Ascot Finds More High-Grade at Premier
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Wednesday August 19th.
Just another day in paradise on Tuesday as the stock levitated higher along with gold and silver on a magic carpet made of printed money from Jay Powell. While the stock market is supported by the invisible hand of the Fed, gold and silver successfully endured a paper attack from the Comex banks about an hour after the Comex opened which gave gold a quick $40 broken elevator cable ride down to $1985 - December gold basis - and spanked silver down roughly 90 cents before both metals rallied back in V-like fashion. Gold settled the day up $14 from Monday and silver closed up 41 cents. The gold/silver ratio closed at 71.70 and appears poised to move lower. The mining stocks closed marginally lower on the day after selling off in tandem with the metals early in the trading day. With the news that GLD continues to borrow gold bars from the Bank of England, the Mining Stock Journal said it is apparent that the western Central Banks
are losing control of their ability to control the price of gold using derivatives. This development was evident in March when the COmex and LBMA jointly invented a new paper gold product for the Comex based on LBMA gold bars stored in London. The newsletter added that it's just a matter of time before the growing shortage of deliverable physical gold and silver forces the prices of each much higher.
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… Integra Resources.
Integra Resources trades on the TSX-V under ITR and the NYSE American with ITRG. Integra Resource is advancing its past producing DeLamar 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.
And here’s what you need to know this morning…
Ascot Resources announced high-grade gold intercepts from the second batch of ten drill holes from Premier West at the Company’s Premier Project in the Golden Triangle of British Columbia. Highlights from today’s results include 13.74 g/t gold over 24.15 meters which included 40.78 g/t gold over 6 meters. Other results included 15.75 g/t gold over 4.5 meters and 9.91 g/t gold over 4.25 meters. In early June, the Company started exploring the area west of the existing Premier deposit and reported initial results on July 29, 2020. The results in this release demonstrate the successful systematic tracing of high-grade mineralization even further to the west. Significant strike length is yet to be explored. Additional drilling has been conducted with assay results pending. These gold grades reported today are close to the proposed mining areas outlined in the feasibility study. Ascot trades on the TSX with AOT and on the OTCQX with AOTVF. News Release
Discovery Metals shared results from four diamond drill holes targeting extensive vein trends at its flagship Cordero project located in Chihuahua State, Mexico. The holes are part of a 55,000-metre Phase 1 diamond core drilling program that commenced in September 2019. From the Todos Santos Vein, drilling returned 2,007 g/t silver equivalent over 1.9 meters and 1,293 g/t silver equivalent over .5 meters. Other highlights included 1,073 g/t silver equivalent over 1.3 meters. The company says with four drill rigs now active on site, they are focused on both expanding the higher-grade bulk-tonnage core of the deposit and systematically assessing the extensive vein trends. Discovery Metals trades on the TSX Venture with DSV and on the OTCQX with DSVMF. News Release
Revival Gold announced it has significantly expanded the planned drilling program this year at the Company’s Beartrack-Arnett Gold Project in Idaho. The initial 5,000-meter core drilling program with Boart Longyear Limited at Beartrack-Arnett has been expanded to 10,000 meters and now includes four target areas. Drilling in the Haidee area at Arnett will include 3,000 meters (10-15 holes) of resource expansion drilling along strike from the existing Arnett Mineral Resource and an additional 2,000 meters (8-10 holes) of infill drilling to expand and upgrade the Inferred resource at Haidee. Drilling in the previously untested Rabbit area will help establish the scale of the mineralized system at Beartrack beyond its current 5.6-kilometer strike with approximately 2,000 meters (2-4 holes) of drilling. Drilling in the Joss area will follow up on prior high-grade gold intercepts. Revival trades on the TSX Venture with RVG and on the OTCQB with RVLGF. News Release
VanGold says it has entered the El Pinguico shaft on the company’s El Pinguico silver and gold project south of Guanajuato, mexico. The company believes this is the first time the shaft has been accessed since the mine was closed in 1913. The goal of this work is to access the 7th adit level, known as Sangria, to sample the bottom of the underground stockpile. VanGold trades on the TSX Venture with VGLD. News Release
Fireweed Zinc says exploration work is ramping up on the Macmillan Pass Zinc Project in Yukon, Canada. The first core drill will arrive on site next week and a second drill will arrive shortly after. Most drilling will be at Boundary Zone, further testing the wide, high-grade mineralization intersected in 2019. New discovery targets will also be drilled, including 240 Mile Target. We will be sure to share results when they are released. Fireweed trades on the TSX Venture with FWZ. News Release
News out of Mali this morning. Given the recent events of a coup taking place, Mali President Ibrahim Boubacar Keita announced last night that he is resigning. B2Gold published a news release this morning saying the company continues to monitor the evolving political situation in Mali. B2Gold's mining operations at its Fekola Mine have not been affected in any way and the Company continues mining and milling operations as normal. No operational days have been lost due to the political situation in the country and all of B2Gold's mine personnel are safe. News Release
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I’m Trevor Hall. Have a wonderful day. Be well.
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