Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Decade Resources (TSXV: DEC) announced on Thursday that it has discovered a new zone at its Del Norte property in British Columbia’s Golden Triangle.
The new zone, called Eagles Nest, consists of quartz veining with associated brecciation over widths that are up to 6 metres. A main quartz vein up to 2 metres wide in the middle of the new zone carries minor galena, sphalerite, tetrahedrite, chalcopyrite and pyrite with veinlets in the breccia along the walls carrying strong galena and sphalerite, according to the company. The zone has been traced for a minimum of 400 metres.
Decade has released assay results for hole DDH 04-036, which returned 8.6 metres of 3.02 g/t gold and 270.50 g/t silver, with 6.46 gold equivalent at gold-silver ratio of 78.5 ($1,890.5 an ounce for gold and $24.07 an ounce for silver).
The Del Norte property was optioned from Teuton Resource Corp. in January, with terms allowing the company to earn up to a 55% interest by spending C$4 million over a five year period.
Midday Thursday, Decade’s stock was up 25% on the TSXV. The company has a C$20 million market capitalization.
