Aurelius Returns Assays Above Grade Thresholds
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Wednesday, September 9th.
The gold price was hit hard overnight Tuesday in correlation with a big sell-off in US stock futures, as hedge funds started tossing out the baby with the bath water to avoid big margin calls. Silver was slammed in sympathy with gold, with December silver trading as low as $26 before both metals rebounded sharply right after the NYSE opened despite a sharp drop in the stock market and, oddly, a sharp move higher in the US dollar. The mining stocks per GDX were also slammed at the NYSE open but then followed gold and silver higher. GDX was up as much as 1.2% at one point but traded down slightly on the day, as the stock market sold off hard in the last hour of trading. The Mining Stock Journal said that two factors came into play to support gold on Tuesday. First, based on data from India, the Indians were importing gold dore bars for the first time in over three weeks. Second, gold and silver benefited a flight to quality flow from capital that started to flee the stock market.
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… we have lots of exploration drill results to share today.
Aurelius Minerals reported assay results from more unsampled and unassayed core from 2010 drilling which were found following the acquisition of the Aureus Gold Project. Several samples returned values above grade thresholds and are being subjected to additional metallic screening for more extensive analysis. Results today included 20.52 g/t gold over 3 meters, which also included a half meter interval grading 47.95 g/t gold and another .77 meters of 37.1 g/t gold. The Company has now released 6 of 18 holes from the Aureus West Gold Project. All of the located core, from programs in 2009 and 2010, has now been sampled and shipped to the assay lab; these results will be released as they become available. Aurelius trades on the TSX Ventue with AUL and on the OTC with AURQF. News Release
HighGold Mining reported assay results for the first two holes of a 15,000 meter drill program currently underway at its flagship Johnson Tract Gold Project in Alaska. Results are reported for drill holes that targeted the lower and northeast side of the JT Deposit. Wide intervals of high-grade mineralization were intersected in both holes, including 17.9 g/t gold, .5% copper and 7.3% zinc over 74.1 meters. The company says these intersections continue to confirm and expand the mineralized zone and, more importantly, include higher-grade mineralization than the closest neighboring drill holes. The results also support their exploration model which suggests that the lower part of the known JT Deposit, the thickest and highest-grade portion, is open to expansion. HighGold trades on the TSX Venture with HIGH and on the OTCQX with HGGOF. News Release
Great Bear Resources also shared more drill results this morning from its Dixie Project in the Red Lake district of Ontario. The news release this morning offered many results, but a few highlights reported included 32.3 g/t gold over 8.2 meters and 68.36 g/t gold over 3.25 meters. The Company continues to advance its geological model of the LP Fault zone as it defines and refines controls to high-grade gold domains. Higher grade gold domains are localized within high strain and higher vein density corridors. Both of these styles of high-grade gold occur within the larger envelope of gold mineralization in felsic and metasedimentary host rocks. An updated geological model will be provided as this work progresses. Great Bear trades on the TSX Venture with GBR and on the OTCQX with GTBAF. News Release
Kirkland Lake says drilling at the central portion of the Saddle Zone at Detour Lake intersected a broad zone of high-grade mineralization, including 1.1 g/t gold over 142 meters. This result confirms continuity of mineralized structure between the mail and west pits. Other results reported this morning included 1.8 g/t gold over 58.5 meters and 1.42 g/t gold over 78 meters. The new holes being reported are the second batch of results from the recently announced 250,000 m exploration program. The Company is targeting completion of the program by the end of 2021 in order to collect information for updated, and potentially expanded, Mineral Resource and Mineral Reserve estimates. News Release
Tudor Gold says they have expanded the 300 Horizon with a 229 meter intercept veraging 1.5 g/t gold equivalent at their flagship Treaty Creek property in the Golden Triangle of British Columbia. Three drill holes have intersected the newly discovered gold-dominant PSZ System located approximately 2 kilometers southwest of the Goldstorm Zone. These diamond drill holes targeted a 1.5 kilometer-wide geophysical anomaly. Tudor Gold has discovered this new thrust-hosted porphyry-style gold-copper-silver bearing system on trend, and approximately 4 km northeast from Seabridges' Iron Cap Deposit, which is located at the southwestern boundary of the Tudor Claim block. Tudor Gold trades on the TSX Venture with TUD. News Release
Northern Vertex also had drill results out, which says confirms continuity of Ruth Vein mineralization with the potential for high-grade ore shoots running parallel for more than 500 meters alongside their current producing Moss Mine Central Pit. Results today included 9.77 g/t gold over 6.1 meters. 2 drill rigs are currently in operation for the exploration and resource expansion program. Northern Vertex trades on the TSX Venture with NEE and on the OTC with NHVCF. News Release
Winston Gold says it received a drill interval of 78.65 g/t gold over .76 meters at its Winston Gold Property near Helena, Montana. This was hosted within a wider interval of 1.14 g/t gold over 2.13 meters. The company trades on the CSE with WGC and on the OTCQB with WGMCF. News Release
Mining Stock Daily is distributed over a dozen different networks throughout the world and in proud partnership with the Junior Mining Network. It is produced by Clear Creek Digital and Investment Research Dynamic's Mining Stock Journal.
I’m Trevor Hall. Have a wonderful day. Be well.
Mining stock daily and its affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein.