By: Tomas Ronolski - AllPennyStocks.com News

Friday, November 29, 2013

November has been a tough month for many miners. Gold has lost about 5.5 percent this month, while silver is off nearly 8 percent, dragging big mining players lower. While the majors have languished, some smaller, diversified juniors have been seeing a rise in share value as the mining investing faithful look for undiscovered value plays with substantial holdings. Shares of Joshua Gold Resources Inc. (OTCQB:JSHG) have nearly doubled this month as investors seem to be taking notice of the large land positions of the Oakville, Ontario-based company in some of Canada’s most prolific metal regions. Joshua Gold expanded its presence in Swayze Township in the Swayze Greenstone Belt of northern Ontario to more than 46,000 contiguous acres. Cumulatively, the property is simply known as the “Swayze Property.”

The Swayze Property surrounds the past producing Kenty Gold Mine (1930s) and is west to Imagold Corp.’s (NYSE:IAG) (TSX:IMG) Cote Lake Deposit, which contains 8.7 million ounces of indicated and inferred gold. To the west is Probe Mines Ltd.’s (TSX-Venture:PRB) Borden Lake Deposit, containing 4.3 million ounces of gold in the indicated and inferred categories. Clearly there is reason for sharp optimism about how much gold is contained in Joshua Gold’s property.

Certificates of assay from the Ontario Department of Mines in 1946 on vein material ranged as high at 117.70 g/t gold, with recent sampling and surface mapping confirming historical high grades with gold bearing material in primary and secondary veins as high as 393 g/t gold.

Joshua gold is in the process of a sampling program and expects more results in the near term, which could provide another catalyst for the stock price.

The company’s name may say “gold,” but Joshua Gold in November took a quality position in one of the richest graphite regions in the history of North America. The company acquired the 396-acre Brougham Property in the Renfrew area of Southern Ontario. The property is adjacent to the Black Donald Graphite Mine on Black Donald Lake and is on strike. The past producing mine reported historic ore grades up to 80% graphitic carbon (Cg). 94 percent of the total value of Ontario graphite production came from the Black Donald Mine, with flake, amorphous and crystalline graphite all being produced.

Adding to its graphite holdings, Joshua Gold also acquired the Bigwood Property, canvasing 1304 acres in the Sudbury Mining District in Ontario. Exploratory work unearthed graphite flake aggregates of 1/16” to 1/2” in diameter and flakes up to 3” in diameter have also been noted on the property.

As mentioned, the portfolio growth has not gone unnoticed by investors. At the moment, the company is still being viewed largely as a position play, especially because of the Swayze Property, but as it continues to prove-up the reserves, expect the tiny $16 million market cap to disappear. Proper due diligence is, as always, encouraged.

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