Aurelius Minerals Discovers New Mineralized Zones at Aureus East Project
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Tuesday, November 10th.
Gold was given a $100 ride lower on Monday. At one point it was down $115 from the early Sunday highs. It settled Monday afternoon at $1,862. Silver similarly was taken out back to the woodshed, getting pounded $2.40 at one point from its high on Sunday night of $26. While the mainstream media attributes the price hit in paper gold and silver to the news that Pfizer has a Covid vaccine that presumably works, the Mining Stock Journal said that the vaccine news hit the tapetwo hours before gold and silver experienced a sudden price ambush. The newsletter noted that when the vaccine news hit the tape the S&P 500 futures did a moon-shot two hours prior to the waterfall sell-off in the metals. The mining stock letter makes a point of explaining that very little physical gold selling was involved in the metals sell-off. In fact, India imported an extraordinary amount of physical gold on Monday. Thus, demand far outweighed the offered supply of physical metal in London. The mining stocks weathered the metals hit fairly well, especially the junior micro-cap exploration stocks, many of which were greenon Monday.
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… Minera Alamos.
Minera Alamos is a Mexico focused gold development company which is on the cusp of graduating to the ranks of gold producers in early 2021. Minera Alamos is traded with the symbol MAI on the TSX-V and with MAIFF in the US OTC Markets. Read more about their development strategies at mineraalamos.com.
And here’s what you need to know this morning.
Aurelius Minerals reported assay results for a portion of the first three drill holes from its Aureus East Project located in Nova Scotia, Canada. These are partial assay results for the first elements of the 6,000m underground program at the Aureus East Project. The initial assays confirm the presence of multiple gold bearing saddles to a depth of 560m below surface, and we await assays on the balance of the hole which identified additional mineralized saddles to a depth of 900m where the hole was stopped due to equipment limitations. With hole 3, results included 6.8 g/t gold over 4.5 meters, and 7.4 g/t gold over 5.8 meters which also included a .3 meter interval grading 113.5 g/t gold. Hole 2 returned 4.5 g/t gold over 4.8 meters and 58.3 g/t gold over .35 meters. The goal of the program is to extend mineralization at depth and along strike as the company looks to define mineral resources. This drilling is the deepest to date at the Aureus Gold Project. Aurelius Minerals trades on the TSX Venture with AUL and on the OTC with AURQF. News Release
Bluestone Resources reported additional drill assays received from the drilling program currently underway in the South Zone of the Cerro Blanco gold project, where five drill rigs are operational both in the underground workings and on surface. Results continue to confirm the continuity and high grade of the vein style mineralization within and outside of the current reserve envelope, including bonanza grades recently intersected of 674.8 g/t Au and 2,863 g/t Ag over 1.1 meter. Other results reported today included 24.9 g/t gold and 38.6 g/t silver over 13.3 meters. The focus of the drill program is to improve the definition of key veins in parallel to expanding the high-grade mineralization for known veins outside of the current resource envelope. The work is expected to build on the infill drill program completed in the North Zone of the deposit in 2019, which resulted in an updated resource estimate of 1.41 million ounces of gold averaging 10.3 g/t in Measured and Indicated categories. Bluestone trades on the TSX Venture with BSR and on the OTCQB with BBSRF. News Release
Liberty Gold says they have extended their D-3 Zone to the southeast with their latest drill results shared this morning from the Black Pine property in Idaho. Highlights included 1.01 g/t gold over 62.5 meters and 1.5 g/t gold over 27.4 meters. D-3 drill holes in this release are located in the southeastern portion of the Zone, extending mineralization from original drilling along a 150 m-wide, moderately east-dipping fault, eastward an additional 100 m along a stratigraphic horizon that extends under the historic B pit. RC drilling is ongoing at Black Pine, with three RC drill rigs testing new targets, extending newly identified targets, and expanding on the focused drilling carried out in 2019. Liberty Gold trades on the TSX with LGD. News Release
Chakana Copper reported a new discovery at the Paloma West target at the expanded Soledad Project in Ancash, Peru. Results from the first three holes at Paloma West are part of the ongoing Phase 3 drill program, a fully funded 15,000 metre drill program that started August 15, 2020. Phase 3 is testing a tight cluster of high-grade, gold-enriched tourmaline breccia pipe targets within the Paloma and Huancarama breccia complexes. Today’s highlights included 2.81 g/t gold,, 3.8% copper and 56.2 g/t silver over 22.65 meters. Chakana trades on the TSX Venture with PERU and on the OTCQB with CHKKF. News Release
Royal Road Minerals announced initial drilling results from its follow-up diamond drilling program at the Caribe gold discovery in northeastern Nicaragua. Results reported on today included .9 g/t gold over 74 meters and 1 g/t gold over 45 meters. Some drill holes became bogged in clay material and failed to meet planned drilling objective. The Company's drilling contractor has undertaken to address this issue and ensure that subsequent drill holes attain the depths required to fully test the breccia body and porphyry mineralization model. Royal Road trades on the TSX Venture with RYR. News Release
Newcore Gold announced additional results from the drill program underway on the Company’s 100% owned Enchi Gold Project in Ghana. Drilling has intersected 1.52 grams per tonne gold over 28.0 metres from surface, including 3.58 g/t Au over 10.0 m, with drilling successfully intersecting shallow oxide and deeper sulphide gold mineralization at the Sewum Gold Deposit. Other results included .91 g/t gold over 49 meters. Newcore trades on the TSX Venture with NCAU. News Release
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I’m Trevor Hall. Have a wonderful day. Be well.
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