Aurelius Minerals Returns with New Drill Results at Aureus East
Welcome to Mining Stock Daily. I am Trevor Hall.
Today is Tuesday August 10th.
Overnight Monday gold recovered much of the Sunday evening price ambush, trading back up to $1754 after touching as low as $1677 when the price-hit occurred. The Mining Stock Journal said the ex-duty premiums reported in India on Monday showed that the price hit triggered a massive amount of Indian buying, which was likely the catalyst for the price recovery. Of course once the Comex floor hours commenced, the gold price was sent $25 lower but managed to grind a bit higher to settle at $1731, down $33 from Friday. Silver meanwhile had managed to climb back over $24 overnight but then was promptly ripped down in the Comex phony paper silver trading arena to as low as $23.25 before bouncing to settle at $23.44. The mining stocks reacted better than would have been expected after Sunday night's fireworks in gold and silver, with GDX closing down 2.4%. The Mining Stock Journal said that it had expected the miners to fall double that amount on Monday.
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… Corvus Gold.
Corvus Gold Inc. is a North American gold exploration and development company, focused on its near-term gold-silver mining projects in southwestern Nevada. The Company holds a commanding land position within the Bullfrog Mining District. Neighbouring, adjacent projects controlled by AngloGold Ashanti, Kinross Gold and Coeur Mining highlight this active District. The two 100% owned North Bullfrog & Mother Lode projects have a combined nearly 4M oz gold of in-pit resource and continues to grow with an on-going, successful, resource expansion drill program.
And here’s what you need to know this morning.
Aurelius Minerals is back in the news this morning with new drill results from the Aureus East gold project in Nova Scotia. In total, the company released results from 10 new holes this morning, which is part of their 10,000m Phase 2 drilling program. Highlights from the results this morning included 149 g/t gold over .7 meters and 17.72 g/t gold over 1.3 meters. Phase 2 drilling concentrates on discovering new gold horizons and expanding on historically known gold horizons and ones recently identified in Phase 1 drilling. The advanced exploration will focus on a 500m by 500m pocket proximal to the underground openings and utilize two rigs. Aurelius trades on the TSX Venture with AUL and on the OTCQB with AURQF. News Release
Calibre Mining provided new drill results from its Eastern Borosi Project in Nicaragua. Results reported this morning were 25.07 g/t gold over 9.7 meters and 39.21 g/t over 3.1 meters at the Guapinol open pit, 9.38 g/t gold over 2.2 meters at the Vancouver open pit, and 33.64 g/t gold over 3.2 meters at the Riscos de Oro underground. Calibre says with Eastern Borosi located within trucking distance of our Libertad mill, the project is poised to deliver the company’s lowest cost ounces, again demonstrating the ability to efficiently translate satellite deposits into near term, high margin mill feed. The project is advancing ahead of our initial expectations with updated mineral resource estimates expected in Q1 2022 and operating permit submissions within the next six months. Calibre trades on the TSX with CXB and on the OTCQX with CXBMF. News Release
Cabral Gold provided new assay results from elevent recently completed reconnaissance RC holes at the Pau de Merenda target within the Cuiú Cuiú gold district in northern Brazil. Drilling returned numerous mineralized drill intercepts in near surface unconsolidated weathered and oxidized saprolite material, including hole RC-112 which averaged 40m @ 2.2 g/t gold from surface including 7m @ 9.4 g/t gold and terminated in 2m @ 23.8 g/t gold. The company says the results indicate the presence of a second near surface gold-in-oxide blanket at Cuiú Cuiú which is very similar to the recently identified mineralized blanket above the MG gold deposit. Several other high priority targets have also been identified for additional gold-in-oxide blanket deposits at Cuiú Cuiú, with reconnaissance drilling currently in progress at the previously untested Mira Boa target. Cabral Gold trades on the TSX Venture with CBR and on the OTC with CBGZF. News Release
Sabina Gold & Silver shared initial results from the company’s spring drilling program completed at the Hook Target, which has been identified as a key link along a mineralized trend hosting the Goose Main and Nuvuyak gold deposits, on its Back River Gold Project in Nunavut. For the first half of this year, exploration was focused on the southern mineralized trend that hosts Goose Main and Nuvuyak. The Hook target, which was thought to be the link between these deposits received the bulk of the meterage of this spring’s program. Drill testing within the trend is highlighted by hole 21GSE600 which returned 5.42 g/t Au over 28.05 m, including 12.68 g/t Au over 5.30 m, returning the highest gram-meter intercept within the target trend to date. The company says drill advancement at the Hook target area has become an important focus for exploration to establish future resource growth and mining synergies. Sabina trades on the TSX with SBB and on the OTCQX with SGSVF. News Release
SilverCrest Metals provided an update on construction activities at the company’s Las Chispas project in Sonora, Mexico this morning. They note construction is a bit ahead of schedule, with 33% complete. The company originally anticipated to be about 28% complete at this time. Capital costs continue to be in-line with the original budget. Construction has progressed well with the confined COVID-19 camp facility and earthworks completed, concrete foundation work 74% complete, plant tank construction and key infrastructure projects (powerline, road, and bridge) commenced, underground infrastructure ongoing, and plant detailed engineering 90% complete. Construction progress has benefited from no delays due to COVID-19 or any other reason. SilverCrest trades on the TSX with SIL and on the NYSE American with SILV. News Release
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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