An Inflow of Investors into Gold & Silver; Exploration News throughout North America
We have lots of exploration news to get to today as precious metals seem poised to rebound after recent announcements from the FED and other central banks. You are listening to Mining Stock Daily.
Welcome to Mining Stock Daily.
Today is Wednesday, October 9th.
This is Trevor Hall and I welcome you to today’s briefing.
The gold price weathered an attempt to take the price lower, bottoming at $1494 on a December contract futures basis before shooting higher after the London a.m. price fix and closing the day trading on Tuesday at $1510. The Mining Stock Journal commented that gold and silver are experiencing an inflow of investing from investors seeking shelter from the next wave of fiat currency devaluation that will result as the Central Banks globally crank up the money printing press. The newsletter also noted that a technical set-up of for a big move higher in gold and silver has developed, which includes the fact that the gold/silver ratio has dropped abruptly lower from both the 200 and 50 day moving averages.
Today’s briefing is brought to you by Integra Resources.
Integra Resources trades on the TSX-V under ITR and the OTCQX under IRRZF. Integra Resource is advancing its past producing DeLamar (DeL - a - Marr ) Gold-Silver project in SW Idaho through aggressive drilling and exploration. The latest Resources Estimate released earlier this summer showed approximately 4 million Gold equivalent ounces in the measured and indicated category.The maiden PEA for the project established a net present value of C$473-million and an IRR of 43%. The management of Integra successfully sold its previous brownfields project for C$590 million in summer 2017. Read more about the company and its successful management team at integraresources.com.
Here’s what you need to know today out of the junior resource sector.
Gold Standard Ventures reported more oxide gold results today. These were from 15 reverse-circulation and core holes at the Dark Star deposit on its 100%-owned and controlled Railroad-Pinion Project in Nevada’s Carlin Trend. In the northern part of Dark Star, drilling intersected 1.8 g/t gold over 160 meters, which also included an interval of 2.55 g/t gold over 44.3 meters. You can see the full list of results on this morning’s news release. The company is focused on converting inferred resources at the project into reserves and optimize the first pass Preliminary Feasibility Study. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/774-tsx/gsv/68090-gold-standard-reports-oxide-infill-and-stepout-drill-results-at-the-dark-star-deposit.html
Crystal Lake Mining says it has discovered an entirely new copper-gold porphyry mineral zone northeast of the Burgundy Ridge mineralization and within the Newmont Lake Project in the Golden Triangle of British Columbia. Diamond drilling returned of 0.45% Cu, 0.33 g/t Au, and 3.44 g/t Agover 56.35 meters. Crystal Lake says all of the holes intercepted widespread sulphide mineralization and alteration styles characteristic of large porphyry Cu-Au systems. Crystal Lake Mining trades on the TSX Venture with the symbol CLM and on the OTC markets in the US with SIOCF.
SilverCrest shared expansion drill results from three veins and the discovery of a new vein called La Blanquita Dos in the Las Chispas Area of the Las Chispas Project in Sonora, Mexico. Todays results included 2,098 g/t silver equivalent over 1.6 meters and 1,584 g/t silver equivalent over 1.2 meters. The results of 31 drill holes were released this morning. SilverCrest says these multi-vein results show deeper mineralization which could expand the current resource estimate. The company trades on the TSX with the symbol SIL and on the NYSE American with SILV. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1776-tsx/sil/68104-silvercrest-metals-announces-las-chispas-vein-extensions-to-depth-and-new-vein-discovery.html
Pure Gold Mining says it has intersected gold mineralization in a widespread gap midway between the Company’s high grade 8 Zone at depth and near surface Russet South mineral resources, potentially establishing the prospectivity of this setting and opening up a brand new target area for discovery. Drilling returned 4.9 g/t gold over 2.1 meters. The Company has expanded the 2019 drill program to 20,000 metres, with two surface rigs currently active. A third rig will commence in late November to begin production level underground drilling in long hole stopes scheduled for development early in the mine life. Pure Gold trades on the TSX Venture with PGM and on the US OTC markets with LRTNF. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/776-tsx-venture/pgm/68095-new-gold-bearing-intercepts-open-up-exciting-target-area-at-pure-gold-s-madsen-complex-drilling-program-expanded-to-20-000-metres.html
Wallbridge Mining provided assay results from its 80,000 meter drill program taking place this year on its Fenelon Gold Property. Results from Area 51 returned 3.08 g/t gold over 5.81 meters and 1.05 g/t gold over 35.39 meters. In this morning’s press release, the company says two significant core length intersections at the Tabasco zone showed abundant sulfide mineralization and visible gold, however assays are pending. Wallbridge trades on the TSX with the symbol WM and on the OTC markets with WLBMF. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1134-tsx/wm/68106-wallbridge-drills-significant-wide-intersections-of-the-tabasco-zone-at-depth-and-continues-to-successfully-delineate-gold-zones-in-area-51.html
That is a wrap for me today. Thank you again for tuning into Mining Stock Daily. Please take a moment to visit miningstockdaily.com where you will find a full list of our sponsors including past interviews and transcripts. For any inquiries regarding the show, you are always welcome to drop me an email at trevor@clearcreekdigital.com.
Have a great day! Be well.
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