Tajiri Resources's Profile

Tajiri Resources Corp is engaged in the acquisition and exploration of mineral properties in Guyana, South America, and Burkina Faso, West Africa. Its projects include Kaburi Gold Project located in Guyana and Reo Gold Project located in Burkina Faso. Tajiri is currently exploiting the Gargantuan Project in Guyana
Tajiri Resources
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TAJ
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TSX-V
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Tajiri Resources's Bulletin

Tajiri Resources Corp. (the "Company") (TSXV: TAJ) is pleased to announce continued excellence in the results from trench sampling at the Epeius Project Guyana, South America where trenching is investigating an area broadly on strike from ASX listed Troy Resource's Limited's Goldstar Prospect located on the southern boundary of the Project (Figure 1).  The area of investigation is resolving into three zones of mineralization: A high-grade zone: The Magic Crack Zone (or the "MCZ") which is associated with the contact of variably graphitic sediments and mafic volcanics where trenching to date has returned 2m @ 61.8 g/t Au, 1m @ 16.2g/t Au, 2m @ 9.2 Au,  2m @ 9.6g/t Au,  1m @ 4.2g/t Au and 6m @ 3.5g/t including 2m @ 8.0g/t Au over a strike length of 500m A low-grade zone: The Pretty Ordinary Zone (or the "POZ") which is associated with a series of small felsic and microdioritic/doleritic intrusives that presents as zones 2-20m wide variably grading between 0.1 and 0.8g/t Au with rare values >1.0g/t, along with two better intersections near the MCZ of 12m @ 2.8g/t and 9m @ 0.9g/t including 5m @ 1.5g/t.  This mineralization is associated with flat to shallow dipping quartz vein sets or in the better mineralized intervals with stockwork veining in or at the margins of the intrusive.  Thus, the POZ may show considerable vertical grade variation related to density of horizontal vein sets and will require drill testing. The newly discovered on strike extensions of Troy Resources Goldstar Prospect: The Goldstar Extended Zone (or the "GETZ") which was intersected in Trench 13 and returned 12m@ 0.6g/t including 3m @ 1.0g/t and 13m@ 0.5g/t including 6m @ 1.0g/t Au.    These intersections are located 880m to the northwest of and directly on strike from Goldstar where Troy has now commenced trial mining. The two zones are separated by approximately 35m across strike.   Investigation of the strike continuity between Goldstar and the GEEZ will require drilling as the entirety of the strike of the GETZ between Trench 13 and Goldstar is covered by alluvium most of which has been heavily worked by artisanal miners. The high-grade intersections of 2m @ 9.6g/t and 2m @ 9.0g/t extend mineralization as reported March 10th, 2021 of 2m @ 61.8 g/t Au and 1m @ 16.2g/t Au to a strike length of ~ 60m with the two zones situated 11m apart across strike.  These results produce a coherent zone of 3.5m width averaging 25g/t Au contained within an 11m wide interval of at least 60m strike.  Apart from two other trenches TR1G and TR1J additional trenching along strike to the NW was unable to track the zone due to either alluvium in a gully floor where Trenches 1-C &D were located or a lateritic duricrust, which was too deep (>5m) and hard to penetrate by mechanical trenching.    The lateritic duricrust is part of a Permian aged erosion bevel that has been mapped in the region and represents an ancient peneplane which is likely composed of transported material. Of the two trenches which effectively tested the on-strike extensions of the MCZ, Trench 1J intersected 6m @ 3.5g/t including 2m @ 8.0g/t and 1m @ 4.2g/tAu. 500m to the northwest of the Trench 1A intersections of 2m @ 61.8g/t and 1m 16.2g/t Au, and Trench 1G which tested the MCZ ~200m to the NW of the Trench 1 A intersections visually intersected mineralized material which produced considerable fine gold from panning but no significant fire assay values.  The company is currently resampling Trench 1G and re-assaying existing visually mineralized samples and results will be released when available. As reported previously the MCZ contact zone continues to the SE and although only low grade  mineralization has been intersected to date it is nonetheless persistent in the 0.5-2.0g/t range over a width of 2-4 metres. Figure 1 shows the location of the Epieus project and Figure 2 shows all above discussed mineralized zones and trenched intersections. Executive Chairman Dominic O'Sullivan commented:   "I am well pleased with the results generated at Epeius to date and think investors could agree with me that we now have a very good chance of generating at least a modest shallow high-grade resource at the MCZ.  I also have confidence that we will be able to extend the high-grade MCZ further along strike to the NW as Troy Resources recently announced RC drill intersections of 11m @ 1.9g/t and 6m @ 7.2g/tAu from the same sediment/volcanic contact which hosts the MCZ, 1800m to the NW of Trench 1J (see Figure 1).  I look forward to drilling the MCZ and exploring options to bring it into production, if warranted, after completion of the acquisition of the Epeius Project."     Qualified Person The Qualified Person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects for this news release is Dominic O'Sullivan a geologist, member of the AusIMM, Executive Chairman of Tajiri and who has reviewed and approved its contents.   Assays were conducted as 30-gram fire assays on 1 or 2m composite horizontal channel samples of trench walls at ISO 9001 certified Actlabs Guyana, located at 27/28 Industrial Area, Beterverwagting, Georgetown Guyana a subsidiary of Activation laboratories Limited:  https://actlabs.com On Behalf of the Board,Tajiri Resources Corp. Graham Keevil,President & CEO About Tajiri Tajiri Resources Corp. is a junior gold exploration and development Company with exploration assets located in two of the worlds least explored and highly prospective greenstone belts of Burkina Faso, West Africa and Guyana, South America. Lead by a team of industry professionals with a combined 100 plus years' experience the Company continues to generate shareholder value through exploration. This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. For results of GCRC083 see: announcement by Troy Resources Ltd: Further High-Grade Drilling Results at Karouni Gold Project, 18th March 2021.  http://clients2.weblink.com.au/news/pdf_1%5C02355082.pdf. Map of Troy's Goldstar Prospect is sourced from their announcement: Exploration Update, Karouni Project, 4th Jan 2021. http://clients2.weblink.com.au/news/pdf_1%5C02327864.pdf   
After several large gold purchases by Poland and Hungary, the Central and Eastern Europe region now accounts for 17% of total global central bank gold purchases over the last three years, according to the World Gold Council. "Decisions to purchase gold were strategic in nature, taking into account the rapid structural changes in the global economy, such as shifts in the international financial system and global consequences of the pandemic," said Tatiana Fic, director of Central Banks and Public Policy at the World Gold Council. In March, Hungary's central bank tripled its gold reserves to a historic high of 94.5 tonnes. This comes after the country's 10-fold increase in gold holdings in Q4 of 2018. The next on WGC's list is Poland, which also increased its gold holdings dramatically over the last three years. The National Bank of Poland bought 25.7 tonnes in the second half of 2018, and then another 100 tonnes in the second quarter of 2019. The latter purchase is still the largest global single gold purchase of the last decade, noted Fic. "The strategic decision by the NBP to more than double its reserves was driven by the bank's objective to diversify the geopolitical risk and strengthen the buffer protecting the country's financial stability," she wrote on Monday. Serbia has also made headlines with its more gradual gold accumulation, as it added around 0.2 tonnes of gold per quarter since 2011. In 2019, the pace of purchases accelerated with a 9.2 tonnes acquisition in Q3 of 2019 and then another 3.5 tonnes in Q4 of 2020. "The key driver behind these purchases was to shore up the stability of the Serbian financial system during a time of uncertainty and to guard against the heightened risk of a global crisis," Fic said. She added that the increased interest in gold from the Central and Eastern Europe region would not end here. "NBP Governor Glapinski has recently announced that Poland may buy another 100 tonnes of gold over the next couple of years. Serbia, if it continues its policy of gradual acquisition of gold, may also continue adding small amounts of gold to its reserves. Thus, the CEE region may continue to be an important center for central bank gold activity in coming years." The COVID-19 pandemic will continue to be an important trigger for wanting more exposure to gold as the Central and Eastern European central banks look for protection. "The unprecedented response of monetary and fiscal policies to the pandemic has resulted in sharp increases in government debts and rising inflationary pressures, bringing to the fore the role of gold as a safe haven and a long-term store of value," Fic explained. source: https://www.kitco.com/news/2021-04-20/Central-and-Eastern-European-central-banks-are-buying-up-gold-citing-rapid-structural-changes-in-the-global-economy-WGC.html
Recent Corrective Action Ignores the Fundamentals Since gold’s intraday August 7, 2020, high of $2,075 per ounce, the metal has retreated 21.49% to $1,708 as of March 31, 2021. Precious metals mining equities declined 23.56% over the same period. Eight months of corrective action has occurred despite solid and visible strengthening fundamentals for gold, leaving proponents of gold to wonder what they are missing. "Which snowflake triggers an avalanche? What you need to know is that the massive buildup of systemic risk since 2008 is largely underappreciated." Missing, in our opinion, are the yet unseen consequences from extreme financial asset valuations supported by the rapid expansion of new public and private sector debt. Economic nirvana, founded on path-dependent monetary and fiscal policy, is impossible. The punchbowl cannot be taken away without wrecking the economy and the markets. Public servants are unwilling and incapable of doing so. Intoxicants will most likely disappear for unforeseen reasons. We believe that gold senses adverse outcomes long before they have been articulated. Four familiar refrains explain gold’s recent correction: 1. Rising interest rates. Gold has been battered by the gale of microscopic advancements in U.S. 10-year Treasury yields and the expectation of higher yields to come. Rate increases are viewed as a “healthy” sign that all is well with the economic recovery. Scant consideration is given to systemic risks stemming from indigestion of the oversupply of new U.S. Treasuries relative to the lack of buying interest from traditional investors. Little thought seems to be given to the possibility that higher interest rates could short circuit the economic recovery. As noted by MacroMavens (3/22/2021), economic sensitivity to “rate increases move alongside the total level of debt. If debt levels double, for example, the interest rate required to precipitate a crisis should be around half of what it was previously. As it turns out, total non-financial debt in the U.S. today is roughly double what it was at the end of 2006 ($61 trillion vs. $30 trillion when the housing bubble began to deflate). It goes without saying that the reason why financial and economic crises have been occurring at successively lower and lower levels of interest rates is that we, as an economy, have been taking on ever-increasing amounts of debt.“ Rate increases, as minuscule as they may be, may have little room to rise before triggering another financial crisis. 2. Exposure to gold could dilute strong returns achievable in financial assets. Secular bull markets in equities and bonds dull investor interest in risk mitigation. As noted by Simon Mikhailovich of TBR (The Bullion Reserve, 3/1/2021), “gold is behaving exactly like insurance should behave — rising and falling with confidence and catastrophic risk perceptions.” The 2020 peak in gold was driven by acute concern over potential damage from the COVID-19 global pandemic. News of vaccine efficacy opened the door for projections of robust economic growth in 2021. Risk perceptions retreated along with the gold price. However, equity and fixed income valuations stand at all-time highs, with many metrics ranking at 100% of historical experience. As noted by David Rosenberg (Rosenberg Research, 3/29/2021): “proliferation of IPOs [initial public offerings], retail participation, leverage, liquidity and SPACs [special purpose acquisition companies] should be a concern with anyone who has a keen sense of the history of what speculative-driven markets look like.” At moments of maximum valuation, risk is highest and perception of it is lowest. According to the March 18 SentimenTrader (quoted in The Belkin Report, 3/22/2021): “By the end of last week, nearly 100% of traders were in a risk-on mode. A risk-on mentality has been so strong that the 50-day average of the aggregate indicator has climbed to 90.5%....Our backtest engine shows that when the 50-day average has been this high, future returns have been poor.” As famously noted by Bob Farrell,* markets are mean reverting. Upside overshoots in valuation lead to overshoots on the downside. (See Bob Farrell's 10 Rules.) 3. Bitcoin is the new gold. Bitcoin has diverted money flows from gold. Perhaps the 2020 August peak in gold would have been $200-$300 ounces higher without speculation that Bitcoin will displace gold. A persuasive Grant’s Interest Rate Observer essay, "Bitcoin Goes to Wall Street," suggests otherwise: “There will be a crash as Bitcoin is a bubble…Stripped of its monetary pretensions, Bitcoin will revert to its legacy role as a crypto version of a Western Union International wire transfer.”2 Bitcoin is internet dependent. If Australia was able to silence Facebook for incurring government displeasure, what are the implications for digital currency payments that escape the tax collector? Bitcoin price behavior is indicative of epic speculation. Little difference can be seen in Figure 1 which overlays the price patterns of Bitcoin and Tesla. The movement towards digital currencies is inexorable and will tighten the government’s grip on taxpayers. Gold is physical property. It stands alone as an off-the-grid store of value with minimal counterparty risk. Gold's usefulness in transactions was written out of the script for a century. Few proponents would argue that the metal's value depends on utility for routine day-to-day payments. On the other hand, blockchain technology holds favorable implications for gold. Digitization of almost anything is possible. Digital gold tokens for those who wish to transact in the metal already exist and could come into wide use by the end of this decade. More important, blockchain will connect lenders and borrowers, allowing owners to earn interest on their physical holdings. Figure 1. Price Patterns of Bitcoin and Tesla (2018-2021) Source: Bloomberg. Data as of 3/31/2021. 4. Strong economic growth will significantly reduce and possibly negate systemic risk concerns implied by unprecedented public and private sector leverage. Consensus is united on this — typical is the quote from Cornerstone Macro: “The March U.S. Markit Services PMI added 0.2 percentage points to 60.0%, its highest level since July 2014, with the future output index jumping 5.2 percentage points to 72.7%, its highest-ever level. Strength was broad based: employment (+2.0 percentage points), new orders (+0.6 percentage points ). Note: services include travel & tourism, the sectors hardest hit by the outbreak. February’s pullback represents a temporary — likely supply-chain driven — pause in the long-term manufacturing rebound. Manufacturing will continue to be an important driver of activity this cycle. And it’s not just high-profile auto demand — it’s a healthy U.S. domestic CAPEX cycle and an improving trend in exports, supported by China’s ongoing recovery. And tailwinds from the U.S. Manufacturing Renaissance/onshoring theme will continue. They have a long way to run.” Central to this view is faith that monetary and fiscal policy support extends as far as the eye can see. Referring back to Farrell, “When all the experts and forecasts agree, something else is going to happen.” The time to be bullish was exactly one year ago when fear was pervasive. Bullish arguments like the one above are long in the tooth. Data that falls short of consensus is brushed aside, for example, harsh weather, a colossal ship aground in the Suez Canal, seasonality or a shortage of semiconductors leading to disappointing car sales. Surging economic strength is old news, priced into sky-high valuations and in our opinion likely to prove short lived. The Chinese PMI (purchasing managers index) is rolling over, emerging market economies are sputtering, Europe remains in pandemic semi-lockdown and the bloom of the “commodity supercycle” is fading. The Market Bubble Will End Badly Our contrarian view is that the market bubble will end badly. “Exponential rapidly rising or falling markets usually go further than you think, but they do not correct by going sideways (Farrell's Rule #4). Well chronicled are the risks implied by record valuations ("Bubble Deniers Abound to Dismiss Valuation Metrics," Bloomberg, March 27, 2021). In our opinion, a bear market is the single most critical catalyst missing to revive interest in gold. The multi-billion Archegos Capital Management margin call exemplifies the reckless use of leverage likely seen only as markets top. The episode is most likely not an isolated event. There is never just one cockroach. Losses to hedge funds and their prime brokers will get little political sympathy, but a wipeout of small investors will attract close scrutiny from Washington D.C. Bear markets progress in three stages (Farrell's Rule #8) — a sharp drop, an oversold bounce and a protracted grind lower as fundamentals deteriorate. The last grinding bear market took place in the 1970s. Few active investors today recollect the experience of a decade-long march lower in prices that led to a sea of change in attitudes, expectations and psychology. Sharp selloffs since the 1970s have been short circuited by monetary interventions and caused any potential bear market to be still born. The “buy the dip” mentality has been programmed into investor reflexes. Repeated reliance on easy money to quell market selloffs has neutered public policy. The Fed has become “path dependent,” both arsonist and firefighter, as explained from time to time in Grant’s Interest Rate Observer.3 Faith in central banker omnipotence is the cornerstone of the financial asset super bubble. For the time being, the Fed tolerates rising rates on Treasuries because it believes the baton has been passed along to fiscal policy. The Biden administration obliges. Expectations for economic growth based on dramatic increases in government spending seem boundless. As noted by Andy Kessler (The Wall Street Journal, 12/6/2020): “Expect more multiplier mumbo jumbo as the Biden administration begins its tax-and-spend fiesta….Multipliers are a canard, a Keynesian conceit.” The economy is bouncing back from the pandemic-induced recession, as it tends to always bounce back from a downturn. But there is good reason to think that this post-recession bounce is sustainable. The marginal utility of debt stimulus is subject to the law of diminishing returns. Odds are strong that the bounce will fizzle and open the door to even greater debt creation that the market cannot digest at submarket interest rates. Inflation or Deflation? Gold Performs Well Either Way Either inflation or deflation seems possible at this moment. A strong case can be made for both. Gold exposure wins out either way. We are quite confident that if central bankers achieve their desired 2% inflation, it will not be transitory or easily dispatched. “I can tell you that we have the tools to deal with that risk (inflation) if it materializes,” said Janet Yellen, U.S. Secretary of the Treasury. Policymakers are omniscient and all powerful, Yellen would have us believe. Credulous markets swallow this nonsense for now. As noted by Joseph C. Sternberg (The Wall Street Journal, "What Inflation Debates Miss: Inflation," February 11, 2021): “Inflation in the academic and policy jargon has come to mean a specific event: a rapid run-up in consumer prices.” In Sternberg’s view, the too narrow CPI (consumer price index) goalposts do not capture the essence of inflation, including deep social, political, and psychological aspects. “Malfunctioning price signals (read: inflation) make it impossible for a society to allocate its resources with any rationality or fairness.” Tame CPI (consumer price index) readings are blind to the “phenomenal bid-up in prices for financial assets,” which “wreck the value of and income from” the savings of investors. The seeds of inflation have already taken root. Indices designed and maintained by high IQ government bureaucrats (such as CPI, PCE (personal consumption expenditures), Core PCE, WPI (wholesale price index), etc.) will sound the alarm too late for the Federal Reserve to gently tap the brakes. The deflation case rests on the idea that overreliance on debt issuance for economic stimulation causes inescapable economic lassitude. According to Lacy Hunt of Hoisington Investment Management Company, “public and private debt in the United States rose last year to 405.9% of GDP [gross domestic product], up from 365.9% in 2019.” Overuse of debt becomes a “persistent drag” on economic activity because of ever-increasing amounts of resources that must be consumed for debt service. Hunt believes that government stimulus has become counterproductive to economic growth. That view seems to pass the test of common sense and extensive historical data supports Hunt's view. Gold and gold mining shares performed well in the inflationary 1970s and the deflationary 1930s. Monetary disorder leading to capital destruction was the common thread. The Deflationary 1930s The 1930s deflation was characterized by an extended severe economic contraction (The Great Depression). The famous market crash was preceded by the rash speculation, unchecked optimism of the 1920s and excessive leverage. The Fed tightened monetary policy during the downturn to make matters worse. The fall in the general price level does not capture the essence of deflation. The essence was a general collapse in confidence leading to cascading credit defaults. Loss of confidence in financial conventions led to sweeping political change and monetary debasement in the form of dollar devaluation vs. gold. Interest rates crashed while gold appreciated 70% and gold stocks became market favorites. The Inflationary 1970s The inflationary 1970s were set off by the Vietnam War and amped up social spending deficits abetted by easy money policies of a politically pressured Federal Reserve. Monetary debasement took the form of consumer price inflation which destroyed capital, particularly for debt investors. Interest rates soared and gold rose nearly 24 fold4 in nominal terms. Capital losses in real terms were disguised by a rise in the general price level. Gold stocks became market favorites. Prolonged austerity forced a rise in savings and was the cure in both historical cases. World War II imposed a moratorium on consumer spending resulting in the buildup of savings, pent-up consumer demand and a post-war boom. The Volcker prescription of ultra-tight monetary policies triggered a politically unpopular protracted recession during which savings increased and savers were rewarded by high real interest rates. A secular bull market followed. Which Snowflake Triggers an Avalanche? What will trigger the next financial crisis? Which snowflake triggers an avalanche? What you need to know is that the massive buildup of systemic risk since 2008 is largely underappreciated. From "Fixed-Income Powder Keg" (Grant’s Interest Rate Observer, 3/19/2021)5: “When you suppress one market artificially, as they have the rate market, the volatility that is normally expressed there — goes somewhere else.” The origin of the next financial crisis, whatever it turns out to be, will be sourced in financial dementia. As noted by economist John Kenneth Galbraith, “there can be few fields of endeavor where history counts for so little as in the world of finance....The world of finance hails the invention of the wheel over and over again, often in a slightly more unstable version. All financial innovation involves, in one form or another, the creation of debt secured in greater or lesser adequacy, by real assets.” (A Short History of Financial Euphoria, 1994). Gold is the Obvious Answer Defensive investment strategies are few and far between. Fixed income, debased by artificially low rates, no longer passes muster. Selling volatility to generate income seems like a form of insanity. Gold is the obvious answer. Whether in physical form or precious metals mining shares sporting good dividend yields and trading at depressed valuations, we believe this unwanted investment strategy will prove seaworthy for all conditions. Bob Farrell’s 10 Rules for Investing Bob Farrell, the legendary Merrill Lynch market strategist, compiled 10 Rules for Investing which offer timeless and timely advice for today’s markets.1 Markets tend to return to the mean over time. Excesses in one direction will lead to an opposite excess in the other direction. There are no new eras — excesses are never permanent. Exponential rapidly rising or falling markets usually go further than you think, but they do not correct by going sideways. The public buys the most at the top and the least at the bottom. Fear and greed are stronger than long-term resolve. Markets are strongest when they are broad and weakest when they narrow to a handful of blue-chip names. Bear markets have three stages — sharp down, reflexive rebound and a drawn-out fundamental downtrend. When all the experts and forecasts agree — something else is going to happen. Bull markets are more fun than bear markets. Source: Bob Farrell’s 10 Rules. SOURCE: https://sprott.com/insights/sprott-gold-report-the-gold-investment-thesis-revisited/#
The National Bank of Hungary (MNB) on Wednesday said it raised the country's gold reserves from 31.5 tonnes to 94.5 tonnes, according to a report by state news wire MTI. MNB took the decision to raise the gold reserves "taking into account the country's long-term national and economic policy strategy objectives". "Managing new risks arising from the coronavirus pandemic also played a key role in the decision," the central bank said.   "The appearance of global spikes in government debts or inflation concerns further increase the importance of gold in national strategy as a safe-haven asset and as a store of value," it added. Hungary now has the third-largest gold reserves in the CEE region, while its gold reserves per capita - at 0.31 ounce - is the highest in the region. "As it carries no credit or counterparty risks, gold facilitates reinforcing trust in a country in all economic environments, which still renders it one of the most crucial reserve assets worldwide, in addition to government bonds," MNB said. The last big increase in Hungary's gold reserves took place in October 2018, when the MNB raised the level from 3.1 tonnes to 31.5 tonnes. Gold accounted for 4.4% of the NBH's EUR 33.182 billion of international reserves at the end of February, the latest central bank data show. MNB will release end-March data on the international reserves on Thursday. SOURCE: https://bbj.hu/economy/finance/mnb/hungary-triples-gold-reserves