Arizona Sonoran Provides Drill Results from Parks/Salyer
Welcome to Mining Stock Daily. I’m Trevor Hall.
Today is Tuesday, April 5th
After selling off late Sunday evening, just after midnight gold shot back up, running from $1918 to $1935. At the same time silver launched from $24.67 up to $25, before being flash-crashed back down to as low at $24.40 then bouncing, down 12 cents from Friday late afternoon close. Gold for some reason seemed to side-step the effort to push it down along with silver, and traded as high as $1938 before settling at $1933, up $9 from Friday. The Mining Stock Journal said it's apparent from the price-action recently, including Monday, that there's an official effort to maintain a ceiling on silver at $25. The mining stocks pulled back on Monday from the big move higher on Friday. GDX was down over 2% at one point, but the miners staged a late day rally, as GDX finished 0.35% lower. The Mining Stock Journal said that it is watching the 2-year chart of XAU, the Philadelphia Gold and Silver mining stock index, which is making its third attempt to breakout. Historically, triple tops in this index usually resolve with a breakout.
We will get to the news from the miners and explorers in a moment, but first a word about today’s sponsor.
This episode of Mining Stock Daily is brought to you by… Western Copper and Gold.
Western Copper and Gold is focused on developing the world-class Casino project in Canada's Yukon Territory. The Casino project consists of an impressive 11 billion pounds of copper and 21 million ounces of gold in an overall resource. Western Copper and Gold trades on the TSX and the NYSE American with WRN. Be sure to follow the company via their website, www.westerncopperandgold.com.
And here’s what you need to know this morning….
Arizona Sonoran Copper released results of 2 additional drill holes from the 12 hole program at the Parks/Salyer Project. Hole 57 hit multiple zones, including 199 ft of .86% copper, 302 ft of 1.23% copper, with a 10 foot interval of 7.95% copper, and 427 ft of .19% copper. Hole 65 returned 439 ft of .92% copper and 687 ft of .23% copper. Notable to both holes, which were drilled on the west side of known mineralization, was the presence of higher-grade molybdenum results in both the oxide and enriched mineralization zones. Both holes support mineralization remaining open in all directions. Parks/Salyer Project is located 1.3 mi (2 km) down trend to the southwest of the Cactus Project on private land. The P/S Project is interpreted to represent a north trending horst block of porphyry copper mineralization similar in characteristics to that of Cactus West. Results to date at Parks/Salyer support that interpretation with mineral zonation also consistent with Cactus containing oxide, chalcocite enrichment, and primary chalcopyrite-molybdenite mineralization. Arizona Sonoran trades on the TSX with ASCU and on the OTCQX with ASCUF. News Release
Labrador Gold shared the latest assay results from diamond drilling from the Big Vein on its Kingsway Project near Gander, Newfoundland. Hole K-21-111 was drilled to target down plunge mineralization in the high-grade HTC zone below the Big Vein Fault Zone. The hole intersected 6.07 g/t Au over 19 metres from 123 metres, the longest interval of gold yet found at Big Vein. The HTC Zone remains open at depth and to the northeast and additional sample assays from 1,286 metres of drilling are pending from this zone. Drilling continues to target this zone at depth and along strike. Labrador Gold trades on the TSX V with LAB and on the OTCQX with NKOSF. News Release
FireFox Gold provided an update on winter drilling at its Mustajärvi and Jeesiö Projects. The three holes reported today include new gold intercepts around the high-grade zone in the Northeast Target and a very shallow new gold intercept in the East Target. At the East Target, a new hybrid drill rig intercepted gold associated with disseminated and vein pyrite in altered tuffites coming quite close to surface. Two new holes offsetting the high-grade zone in the Northeast Target also encountered significant gold mineralization, confirming the northeast strike and southeast dip of the en echelon vein system. Results reported today included 4.4 meters of 6.35 g/t gold and 1.9 meters of 8.96 g/t gold. The company added the early-stage drilling at the Jeesiö Project did not return significant gold intercepts, but the structural zone at the Utsamo Target continues to return encouraging evidence of faulting, alteration, and anomalous geochemistry. FireFox Gold trades on the TSX V with FFOX and on the OTCQB with FFOXF. News Release
Maple Gold Mines reported final assay results from their Fall 2021 drill program on the Douay Gold Project in Quebec, which is a 50/50 joint venture with Agnico Eagle. The JV completed a total of seven (7) holes and roughly 3,420 metres ("m") under the Fall 2021 drill program, with every hole intersecting multiple intervals of >1 gram per tonne gold. Select results included 32.2 meters of 1.54 g/t gold from hole 316 and 8 meters of 3.42 g/t gold from hole 317, which also encountered multiple gold zones. Maple Gold Mines trade on the TSX V with MGM and on the OTCQB with MGMLF. News Release
Kenorland Minerals announced the commencement of drilling at the Chicobi Project located in the Abitibi greenstone belt of Quebec and held under an earn-in option to joint venture agreement with Sumitomo. This maiden diamond drill program will consist of approximately 2,000 meters over 4 holes, testing a coherent gold and multi-element till anomaly (Target B) of approximately 1.5km x 3km in extent. The drill program is scheduled to last approximately three weeks and will be completed near the middle of April. Kenorland trades on the TSX V with KLD and on the OTCQX with NWRCF. News Release
That concludes today’s morning briefing.
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