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Targa Exploration Corp. ( (TSE:TEX) ) has issued an announcement.
Targa Exploration Corp. has reported a grassroots gold discovery at its Opinaca Gold Project in Quebec, where its maiden drill program confirmed widespread gold mineralization over a 4-kilometre target area that had never previously been drilled. Gold was intersected in seven of eight drill holes across three drill fences, including high-grade intercepts of up to 166.14 g/t gold over 0.3 metres within a broader interval of 13.88 g/t over 3.65 metres, as well as several broad zones of lower-grade mineralization. The mineralization style, hosted in albite-altered tonalites and associated with quartz–feldspar–biotite–arsenopyrite veining, is analogous to the regionally significant Cheechoo gold deposit, suggesting the potential for a large intrusion-related gold system with as-yet undefined limits. Management highlighted that these results substantially enhance the project’s exploration upside and could reposition Opinaca as a significant emerging gold discovery in the James Bay region, while the company also strengthened its leadership team with the appointment of Alejandro Adams as chief financial officer.
Spark’s Take on TSE:TEX Stock
According to Spark, TipRanks’ AI Analyst, TSE:TEX is a Underperform.
Targa Exploration Corp.’s financial instability, demonstrated by a lack of revenue and negative cash flow, heavily impacts its stock score. Weak technical indicators and an unattractive valuation further depress the score, suggesting significant risk for potential investors.
To see Spark’s full report on TSE:TEX stock, click here.
More about Targa Exploration Corp.
Targa Exploration Corp. is a mineral exploration company focused on gold, with its key asset being the 100%-owned Opinaca Gold Project in Quebec. The project targets intrusion-related gold systems in the James Bay region, an emerging gold camp, and is advanced in partnership with technical operator Kenorland Minerals, which holds a 3% NSR on the property.
Average Trading Volume: 69,918
Technical Sentiment Signal: Buy
Current Market Cap: C$11.43M
Find detailed analytics on TEX stock on TipRanks’ Stock Analysis page.