Welcome to Mining Stock Daily. This is your host, Trevor Hall

Today is Wednesday July 8th.

August gold soared over $1800 on Tuesday from an overnight price attack. The price take-down once again started after India was largely closed and into the a.m. London price fix. After the customary price-hit when Comex floor hours commence, gold promptly shot up to as high as $1810 before settling around $1805. Silver followed gold, with September silver shooting up to as high as $18.71 from $18.25. Silver outperformed gold by a considerable amount percent-wise during the price spike in both. The mining stocks per GDX rose 2.4% and the more concentrated, large-cap producer HUI index jumped 2.9%. The Mining Stock Journal said that, not surprisingly, the precious metals sector has been outperforming the general stock market by a considerable amount and yet has received almost no attention from the mainstream financial media beyond the typical anti-gold propagandist drivel. That said, the newsletter is expecting a short, if not abrupt, pullback based on an inordinately high sentiment reading from the Hulbert Gold Newsletter Sentiment Index, which is a surprisingly accurate contrarian indicator. Readings over 60% are almost invariably followed by a pullback. The newsletter added that it would be wise to buy any pullback with both hands.

We’ll get to the news out of the miners and explorers here in just a quick moment, but first a quick mention of today’s sponsor. 

This episode of Mining Stock Daily is brought to you by… Corvus Gold.

Corvus is an advanced gold-silver exploration and development company focused on the North Bullfrog and Mother Lode Projects in Nevada. The company has been named a Top Five TSX gold equity performer Four of the last Seven years & a multi time top 50 OTCQX performer. Corvus Gold trades on the Toronto Stock Exchange with the symbol KOR and on the OTCQX with CORVF. Follow all the news form Corvus and its two-mine projects with fast-tracked potential via the company's website, corvusgold.com. 

And here’s what you need to know this morning …

Wesdome Gold Mines announced results from the ongoing underground exploration drilling program at the Company’s wholly-owned Eagle River Mine in Wawa, Ontario.Although surface and exploration drilling is currently operating at a reduced capacity due to COVID-19 restrictions, recent underground drilling from the 772 m elevation was completed to test the down plunge extension of the Falcon Zone.  Initial drilling from underground has intersected visible gold mineralization in quartz veining and defines a steep easterly plunge. Results reported today included 314.4 g/t gold over 6 meters, 49.9 g/t gold over 4.9 meters and 68.4 g/t gold over 2.3 meters. It is interpreted that the Falcon 7 Zone now extends from surface approximately 1,000 m down plunge and is part of the up plunge extension of the 7 Zone currently being mined near the 1,000 m elevation. Wesdome trades on the TSX with WDO and on the OTC markets in the US with WDOFF. News Release

Yesterday, Rio2 Limited announced it took another key step towards the development of its Fenix Gold Project located in Chile by selecting STRACON as the lead mining services contractor for the Fenix Gold Project. The scope of the mining services contract will include mining of ore at the rate of 7.3M tonnes per annum (20,000 tonnes per day), waste mining, drilling, blasting, hauling, supply of operating personnel and mining equipment, supervision and management, dust suppression and road maintenance. The scope also includes water transportation from Copiapó to the mine site and maintenance of the entire mobile fleet of equipment plus all pre-mining and civil construction activities including the construction of platforms, leach pad, ponds, access roads and waste material deposits. Rio2 trades on the TSX Venture with RIO and on the OTCQX with RIOFF. News Release

Contact Gold has outlines its proposed 2020 drill and exploration program for the Green Springs gold project located on the southern end of the Cortez Trend in Nevada. The company is planning for a 9,000 meter reverse circulation and diamond drill program with Echo Zone being the company’s priority target which previous drill assays returned 2.36 g/t gold over 70.1 meters. Contact will also look to the Tango Target where gold-in-rock and gold-in-soil sampling identified a new 500 meter by 200 meter target. There is a great video of CEO Matthew Lennox-King walking you through the project which can be found on today’s news release. Contact Gold trades on the TSX Venture with C and on the OTCQB with CGOL. News Release

Golden Minerals says it has commenced drilling at its Rodeo gold and silver property in Durango, Mexico. Golden Minerals plans to drill approximately 20 holes to better define the high-grade core of the Rodeo deposit. The upcoming drill program will expand on the historic drilling campaigns that successfully tested multiple gold-quartz veins and breccias of the Rodeo low sulfidation vein system The objectives of the drilling program are to provide greater detail on the gold mineralization at Rodeo and to provide sample material for metallurgical and geotechnical testing following is previously released Preliminary Economic Assessment. Golden Minerals trades on the NYSE and the TSX with AUMN. News Release

Talisker Resources says it is divesting from its Non-core Toodoggone Properties in British Columbia with an agreement between the company and TDG Gold Corp for a total of $5 million. The Properties being acquired by TDG Gold consist of: the Baker Project, which includes the past producing Baker and Multinational Mines; the Shasta Mine and the Baker mill infrastructure and equipment; the Chappelle property, which covers the ground from the past producing Baker and Multinational Mines; the Mets lease, which is a mining lease located approximately 20 kms north of the historic Baker and Multinational Mines; and the Bot property, which is a mineral tenure located approximately 35 kms north of the Baker milling facilities.Talisker will continue its focus on the Bralorne and Spences Bridge assets. The company trades on the CSE with TSK and on the OTCQB with TSKFF. News Release

Fiore Gold shared their preliminary production results for Q3 2020 from the Pan open pit mine in White Pine county, Nevada. The company says production reached 12,792 ounces, which is a second successive quarter of record gold production. Average realized price of gold sales was $1,720 per ounce. Important to note, the company also says its stripping ration was reduced as guided to 1.3 to 1 and Fiore increased its cash balance by over $8 million over the quarter. I’ll be speaking with CEO Tim Warman more about these results later today here in Mining Stock Daily, so keep a look out for that interview later today. Fiore trades on the TSX Venture withF and ont he OTCQB with FIOGF. News Release

That is all from us here at Mining Stock Daily this morning. We’ll be back throughout today and the rest of the week with more news and commentary out of the mining and precious metals sector. Be sure to hit that subscribe button if you have not done so already. And for any follow up questions, please feel free to email me at trevor@clearcreekdigital.com. 

Mining Stock Daily is distributed over a dozen different networks throughout the world and in proud partnership with the Junior Mining Network. It is produced by Clear Creek Digital and Investment Research Dynamic's Mining Stock Journal. 

I’m Trevor Hall. Have a wonderful day. Be well.

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