Arizona Metals Drill Wide Intervals of Copper and Gold
Welcome to Mining Stock Daily. I am Trevor Hall.
Today is Monday July 26th.
The precious metals sector has been extremely irritating, if not outright agitating since May. Compounding the frustration is the fact that the fundamentals supporting the sector have never been stronger. These factors include negative real interest rates, the Fed's non-stop money printing and the parabolic debt issuance at every level of the economy. For as bad as the sector feels, gold and silver remain in a powerful uptrend per a five-year weekly chart. August closed last week above $1800. This is down from the previous Friday but it withstood several attempts every day last week to push it back below $1800. The Mining Stock Journal believes there's a good chance that gold will be pushing $1900 and silver will be testing at least $28 by Labor Day weekend. Similarly, the mining stocks represent the only true value sector of the stock market. Using GDX as a proxy, the miners are oversold and extraordinarily undervalue in relation to gold, silver and the general stock market. Once gold and silver confirm their bull trend, the mining stocks should explode higher.
We’ll get to the news out of the miners and explorers in a moment, but first a quick mention of today’s sponsor.
This episode of Mining Stock Daily is brought to you by… Rio2.
Rio2 is advancing the Fenix Gold Project in Chile, the largest undeveloped gold heap leach project in the Americas. Fenix consists of 5 million ounces in the measured and indicated resource category and 1.4 million ounces in the inferred resource category. With a robust PFS in place, Fenix is set up for fast-tracked construction and production. You can find a list of project and company information on their website, rio2.com.
And here’s what you need to know this morning.
Arizona Metals announced results of four drill holes at the recently discovered gold-rich zone of open-ended mineralization at the Kay Mine, in an area previously untested by historic drilling or exploration. Those results included 97 meters of 1.3% copper, 1.6 g/t gold, 3.2% zinc and 32 g/t silver. 103 meters of .8% copper, 1.1 g/t gold and 1.9% zinc. And 54 meters of 1.9% copper, 2.9 g/t gold, 5% zinc and 29 g/t silver. The company says these newly defined, wide intervals demonstrate the potential to add a significant tonnage of gold-zinc mineralization outside of the historic resource. Arizona Metals trades on the TSX Venture with AMC and on the OTCQX with AZMCF. News Release
Pancontinental Resources reported multielement geochem results from the first three diamond drill holes in the Phase 2 drill program at the Brewer Gold and Copper Project in the State of South Carolina. Results shared today included 106.5 meters of 1.07 g/t gold and .26% copper and 15.95 meters of 1.09 g/t gold and .22% copper. The company did mention they are testing zones outside of the former mine by drilling step-out holes to the north, east, south and west as well. The company trades on the TSX Venture with PUC and on the OTCQB with PUCCF. News Release
Lion One Metals provided assay results from ongoing deep step-out drilling at the Company's 100% owned Tuvatu gold project in Fiji. Results reported this morning included 55.44 g/t gold over 2.3 meters, which also included a .4 meter interval of 221.6 g/t, was reached at a depth of 575 meters. Other results from the same drill hole included 437.13 g/t gold over .6 meters. The company says the evidence is growing that this deep NE-oriented structure is nearly vertical, with a strike length of at least 360m, and vertical extent of at least 720m from surface. It is believed to be an extension of the UR4 lode, open both at depth and along strike where it projects from the Tuvatu resource area to the Banana Creek target 3.5km to the NE. Lion One trades on the TSX Venture with LIO and on the OTCQX with LOMLF. News Release
QC Copper reported results of another drill hole in the Saddle Zone, which is a previously unmined structural corridor located between the Springer and Perry conceptual pits of the Opemiska Copper Complex in Quebec. Hole 98 returned 100 metres grading 0.5% Copper Eq starting 7 metres downhole. Additionally, the same hole intersected a separate 9.0 metre interval of 18.3 gpt gold and 1.7% zinc, all within the Saddle Zone of its Opemiska Copper-Gold project. In the news release, the company says the Saddle Zone represents a substantive resource expansion opportunity given no historical mining occurred in the area between the Springer and Perry Mines. QC Copper trades on the TSX Venture with QCCU. News Release
Brixton Metals announced the discovery of visible gold in outcrop at the Trapper Gold Target on its Thorn Project in the Golden Triangle of British Columbia. And because of the discovery, Brixton also re-logged and re-analyzed select mineralized intervals within six drill holes ofthe forty-two holes which were drilled in 2011. From this work, the company identified several holes that were not noted in the original logs. Brixton is preparing for its maiden drill program on the Trapper target in the coming days. The company trades on the TSX Venture with BBB and on the OTCQB with BBBXF. News Release
Equinox Gold says despite a few members of the local community remaining camped near the Guadalupe and Bermejal open pits, the Los Filos Mine blockade has been removed, access to the mine has been restored and the mine has resumed operations. Los Filos representatives continue to engage with government and community representatives to achieve resolution.
That’s it for the news briefing this morning. We have a couple of great interviews coming your way later today.
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