Co. Confirms Breccia Pipes Contain High-Grade Gold
Source: Michael Fairbairn
April 17, 2023 (Investorideas.com Newswire) New drill data from the South Dakota property also show the explorer hit its highest-grade gold intercept to date, noted a Canaccord Genuity report.
Dakota Gold Corp.'s (DC:NYSE American) newly released data for five holes drilled at its Richmond Hill gold project in South Dakota show all of them "intersected significant mineralization," reported Canaccord Genuity analyst Michael Fairbairn in an April 13 research note.
"Where there's smoke, there may be fire," Fairbairn commented.
The U.S.-based gold explorer is trading at US$3.17 per share, which compares to Canaccord Genuity's US$5 per share price target on it. The financial services firm rates Dakota Gold Speculative Buy.
High-Grade Gold Encountered
Dakota Gold drilled the five holes, just reported, in the Twin Tunnels breccia pipe, one of six on the property and one not previously mined, Fairbairn wrote. The results of these holes confirmed that higher-grade gold mineralization exists in the breccia pipes at Richmond Hill.
Fairbairn presented the highlight intercept of each hole:
RH22C-013: 30 meters (30m) of 5.98 grams per ton gold (5.98 g/t Au), the highest-grade intercept Dakota has encountered so far. This hole was the best of the batch.
RH23C-014: 42m of 1.35 g/t Au
RH22C-009: 5.1m of 1.21 g/t Au
RH22C-011: 15.4m of 1.24 g/t Au
RH22C-010: 5.7m of 0.82 g/t Au. This hole was drilled 762m of the Twin Tunnels West breccia pipe.
"Results to date bode well for the next resource update, with indications that Richmond Hill hosts a substantial high-grade gold ore body," Fairbairn commented.
Dakota Gold continues drilling at Richmond Hill and at Maitland, with two active rigs at each project.
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Disclosures For Canaccord Genuity Corp., Dakota Gold Corp., April 13, 2023
Analyst Certification Each authoring analyst of Canaccord Genuity whose name appears on the front page of this research hereby certifies that (i) the recommendations and opinions expressed in this research accurately reflect the authoring analyst's personal, independent and objective views about any and all of the designated investments or relevant issuers discussed herein that are within such authoring analyst's coverage universe and (ii) no part of the authoring analyst's compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed by the authoring analyst in the research, and (iii) to the best of the authoring analyst's knowledge, she/he is not in receipt of material non-public information about the issuer. Analysts employed outside the US are not registered as research analysts with FINRA. These analysts may not be associated persons of Canaccord Genuity LLC and therefore may not be subject to the FINRA Rule 2241 and NYSE Rule 472 restrictions on communications with a subject company, public appearances and trading securities held by a research analyst account.
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