Barrick Sells Australian Asset, Integra Resources Financing, and Ascot Drill Results from Premier

A few weeks ago we mentioned Barrick’s statement about removing a great deal of the company’s non-core assets from its books. Well that strategy was put into motion over the weekend. We’ll update you on the news along with important developments from the juniors. Its Monday and you are listening to Mining Stock Daily. 

Welcome to Mining Stock Daily. 

Today is Monday, November 18 th. 

This is Trevor Hall and I welcome you to today’s briefing. 

Gold and silver were volatile at the end of last week, with gold trading as low as $1463 before grinding higher during the day Friday to close for the weekend at $1468 while silver traded as low as $16.79 beofre settling the day at 16.91. The Mining Stock Journal commented that weaker than expected economic numbers and increased stress in the banking system will force the Fed to print a lot more money. That plus enormous Indian import appetite will likely drive the price of gold and silver higher into year-end. 

Today’s episode of Mining Stock Daily is brought you by Integra Resources.

Integra Resources trades on the TSX-V under ITR and the OTCQX under IRRZF. Integra Resource is advancing its past producing DeLamar (DeL - a - Marr ) 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.

Earlier last week the company did announce a $6.6 million strategic placement with Coeur Mining and a $15-million bought deal financing. Concurrently, that bought deal public offering was increased to $22-million. The financing will be used to fund exploration and a pre-feasibility level study at DeLamar. 

And here’s what you need to know today out of the junior sector.

Ascot Resources shared results from 19 drill holes completed at the Prew zone of the company’s Premier Gold Project near Stewart, British Columbia. Today’s results did include 37.95 g/t gold over 5.03 meters and 8.14 g/t gold over 13.03 meters. Ascot says these new intercepts will contribute to the process of upgrading resources from the inferred category in the upcoming resource update for the project. Just more than half of the drill holes of the campaign have been reported to date. Ascot trades on the TSX with the symbol AOT and on the OTC markets with AOTVF. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/667-tsx/aot/69798-ascot-intercepts-high-grade-gold-at-premier-including-37-95g-t-au-over-5-03-metres.html

Marathon Gold shared their final infill drilling results of the year from the Marathon Deposit at the Valentine Gold Project in Newfoundland. Today’s results come from 37 drill holes clustered in the SW Main Zone extension area of the deposit. Results included 5.08 g/t gold over 18 meters and 4.24 g/t gold over 21 meters. You can read the full list of drill results on this morning’s press release, which can also be found on the Junior Mining Network newsroom site. Marathon Gold trades on the TSX with the symbol MOZ and on the OTC markets in the US with the symbol MGDPF. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/620-tsx/moz/69804-marathon-gold-reports-final-2019-infill-drilling-results-for-the-marathon-deposit-valentine-gold-project.html

Banyan Gold shared results from both diamond drilling and reverse circulation drilling at the company’s Aurex-McQuesten Gold Project near Mayo, Yukon. The full list of results and sub-intervals of the holes can be found on the news release, but highlights did include .48 g/t gold over 74.2 meters and .43 g/t gold over 89.4 meters. The project is located 40 km from Victoria Gold’s Eagle Gold Mine and adjacent to Alexco’s Keno Hill Silver project. Banyan trades on the TSX Venture with the symbol BYN. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1346-tsx-venture/byn/69802-banyan-gold-expands-airstrip-zone-mineralization-drills-91-4-m-of-0-44-g-t-in-phase-2-drill-program-aurex-mcquesten-gold-project-yukon.html

Barrick Gold Corporation announced it has reached an agreement to sell its 50 percent interest in Kalgoorlie Consolidated Gold Mines in Western Australia to Saracen Mineral Holdings Limited for a total consideration of $750 million in cash. The sale of Barrick's non-operating interest in KCGM represents the first step in a plan to realize in excess of $1.5 billion from the disposal of non-core assets by the end of next year. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/315-nyse/gold/69796-barrick-reaches-agreement-to-sell-its-share-of-australian-super-pit-for-750m.html

Cordoba Minerals announced that China’s JCHX Mining Management has agreed to make a strategic investment of $11-million Canadian into the company through the issue of over 91-million shares in a private-placement deal. JCHX is one of the China’s top mining construction companies and is currently completing the underground development at Kamoa-Kakula copper project in the DRC. Cordoba is exploring the San Matias copper-gold-silver project in Colombia. The company trades on the TSX Venture with CDB and on the OTC markets with CDBMF. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/519-tsx-venture/cdb/69813-cordoba-minerals-announces-strategic-cooperation-and-investment-agreement-with-jchx.html

And Paramount Gold announced today that they have officially submitted it Consolidated Permit Application to the Oregon Departmentof Geology and Mineral Industries to enable the company to build and operate its proposed underground Grassy Mountain gold project in eastern Oregon. This past June, Paramount initiated a NI 43-101 Feasibility Study for the Grassy Mountain project which is expected to be completed mid-next year. Paramount Gold trades on the NYSE with the symbol PZG. http://www.paramountnevada.com/paramount-gold-submits-permit-application-oregon-state-agencies-proposed-grassy-mountain-gold-project/

And that’s it for today on Mining Stock Daily. Please be sure to take a quick moment to subscribe to this podcast if you have not already. And while doing so, feel free to leave a review. I greatly appreciate your feedback. As we approach the end of the  year, I’ll be focusing on new ways to improve the show. So your feedback if very important to us. 

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