Aurelius Minerals Results from Previously Unassayed Core

Welcome to Mining Stock Daily. This is your host, Trevor Hall

Today is Thursday August 31st.

Gold on Friday shot up $42 - or over 2% - more than reclaiming the manipulated price takedown on Thursday after the Fed's Chairman Jay Powell speech at Jackson Hole, which was nothing more than a redecorated regurgitation of the same money printing policy the Fed has used to keep inflating financial assets and attempt to prop up the economy since Greenspan became the Chairman of the Fed. As this is being written Sunday evening, gold is up another $8 in early eastern hemisphere trading. Silver outperformed gold on Friday, surging toward $28 to close at $27.79. It's  trading up another 48 cents on Sunday evening. The mining stocks on Friday per GDX closed up 3.2% but many of the more speculative micro-cap juniors were up double-digits percentage-wise. The mining stock journal noted that a lot more mainstream investment funds are starting to allocate significant quantities of investment capital to the precious metals sector. The Ohio Police & Fire Pension fund approved a 5% allocation to the precious metals sector. If institutional investors generically allocate just 2-3% to the sector, the likely move higher made by the mining stocks will dwarf the tech stock move of 2020.

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…

Aurelius Minerals reported assay results from unsampled and unassayed core from 2010 drilling located on the Aureus Gold Project in Nova Scotia. Results included 2.31 g/t gold over 21.5 meters and included a smaller section of .82 meters grading 42.4 g/t gold. The company says Mineralization has been confirmed to nearly 2 km of strike and extends to a depth of 300m. Lidar surveys in the area show the presence of parallel systems further highlighting the potential opportunity of additional saddles and mineralization. Approximately 2,000 metres (m) of the remaining unreleased core has now been sampled and shipped to the assay lab; these results will be released as they become available. To date four of eighteen holes from the previously unsampled core have been reported. Aurelius Minerals trades on the TSX Venture with AUL and on the OTC with AURQF. News Release

Turmalina Metals announced the results of the first three holes of their phase 2 drilling program at the San Francisco project in Argentina. Results included 4.4 g/t gold, 82 g/t silver and .43% copper over 83 meters from hole 11. Hole 12 results included 4.94 g/t gold, 109 g/t silver and 1.1% copper over 109 meters. The company says the breccia textures observed in the drill core confirm that the current intercepts are related to the very top of the breccia system. Mineralisation in the top of tourmaline breccias may have a different orientation to the orientation of the breccia pipe. Turmalina trades on the TSX Venture with TBX and on the OTCQX with TBXXF. News Release

GFG Resources says it has started its Phase 2 8,500 meter drill program testing high-grade gold targets at its 100% owned, district-scale, Pen Gold Project. The Phase II drill program is designed to follow-up on the recent high-grade gold discovery at the Nib Prospect which intersected 71.27 grams of gold per tonne (“g/t Au”) over 8.5 m from 50 m below surface and test earlier stage targets such as Broadway and Boundary that have been identified. GFG trades on the TSX Venture with GFG and on the OTCQB with GFGSF. News Release

Auryn Resources and Eastmain Resources jointly announced Auryn has entered into an agreement with a syndicate of underwriters co-led by Canaccord Genuity Corp. and Beacon Securities Limited in connection with a bought deal private placement financing of an aggregate of 7,500,000 subscription receipts of the Company to raise gross proceeds of C$22,500,000. The Subscription Receipts will be exchanged for common shares of Auryn concurrently with completion of the recently announced transaction whereby Auryn will acquire Eastmain after spinning-out Auryn's Peruvian operations to Auryn shareholders. The Eastmain Transaction will create Fury Gold Mines Limited, a leading developer of Canadian gold projects. It will also result in two additional new independent companies holding Auryn's Peruvian projects. The sale of Subscription Receipts will fulfill a principal condition of the Eastmain Transaction. Auryn trades on the TSX and the NYSE American with the symbol AUG. Eastmain trades on the TSX with ER. News Release

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I’m Trevor Hall. Have a wonderful day. Be well.

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