China Actively Importing Gold
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Wednesday, January 27th.
Feb gold experienced quite a bit of volatility overnight and during the Comex day session on Tuesday, which is typical of when the futures options expire on the active front-month contract, as they did on Tuesday. The Mining Stock Journal said that the paper gold price, although it closed down from Monday and down $8 from the highs of the day-session, weathered options-expiry better than usual. Feb gold closed right on top of its 200 day moving average. Silver closed up slightly from Monday and continues to grind in an uptrend above its 50 day moving average. The mining stocks were slightly lower after spending most of the trading session in positive territory. The Mining Stock Journal said that the entire precious metals complex continues to trend upward with bullish chart formations. In addition, select high-risk junior exploration stocks are trading up on positive exploration news, which is a bullish sign. On another note, India was closed Tuesday but China was actively importing gold on Tuesday and India will back at the feeding trough on Wednesday.
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… 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.
Newcore Gold shared additional drill results from the 58,000 metre drill program underway at the Company’s 100% owned Enchi Gold Project in Ghana. Drilling has intersected 2.02 grams per tonne gold over 24.0 metres from 36 m at the Sewum Gold Deposit , with results continuing to intersect wide-spread gold mineralization outside of current resources. Newcore is also pleased to announce additional drill results from the Kwakyekrom Gold Target located 8 km north-east of the Sewum deposit, with hole KKRC028 intersecting 1.43 g/t Au over 26.0 m from 111 m, including 3.31 g/t Au over 9.0 m from 115 m. Kwakyekrom is one of the most advanced exploration targets at Enchi with no currently defined gold resources. 3 drill rigs are currently on site with two additional rigs anticipated to be on-site by end of this month. Newcore trades on the TSX Venture with NCAU and on the OTCQX with NCAUF. News Release
Fiore Gold shared drilling results from the ongoing drilling program at its Gold Rock project in Nevada. These latest results continue to demonstrate strong intervals of oxide gold mineralization both within and outside of the current resource pit shells. We view this as encouraging in our efforts to upgrade Inferred resources and expand the overall resource envelope as part of the ongoing Feasibility Study of the federally permitted Gold Rock project. Results included 1.14 g/t gold over 15.2 meters and 1.33 g/t gold over 19.8 meters. The federally permitted Gold Rock gold project is located approximately 8 miles southeast of the Pan Mine in White Pine County, Nevada. Fiore trades on the TSX Venture with F and on the OTCQB with FIOGF. News Release
GoGold Resources announced a new discovery at El Orito in its Los Ricos North Project. The company says All 6 holes have intersected significant zones of epithermal silver, gold, and base metal sulfide mineralization. Results included 322.7 g/t silver equivalent over 43 meters and 171 g/t silver equivalent over 63.4 meters. The known strike length of the El Orito – El Favor structure is now approaching 2,500 meters and is still open in both directions. GoGold trades on the TSX with GGD and on the OTCQX with GLGDF. News Release
FireFox Gold reported the results of its nine-hole phase 3 core drilling on the company’s Mustajärvi Gold Project in the Central Lapland Greenstone Belt, Finland. Results continued to show shallow narrow high-grade intercepts, including 33.25 g/t gold over 2 meters and 11.2 g/t gold over .5 meter. New intercepts extend the strike of known high-grade gold along the shear zone to more than 1.5 kilometres. FireFox Gold trades on the TSX Venture with FFOX. News Release
Great Bear Resources reported gold recovery test results from the Dixie Project this morning. The company says their first metallurgical tests front the Dixie Limb zone have recovered 88-97.5% of head grade gold values from convention cyanidation bottle roll elach tests. These results confirm gold mineralization at the Dixie Limb yields similar very high gold recoveries to those previously reported from the Hinge zone. Great Bear trades on the TSX Venture with GBR. News Release
Clarity Gold says it has made its first payment of $450,000 and issued over 685-thousand common shares to Big Ridge Gold in accordance with the agreement for the purchase of the Destiny Project. The Shares issued to Big Ridge are subject to a hold period expiring four months and one day from the date of issuance of the shares. Clarity says it plans to begin drilling at the project as soon as possible. Clarity Gold trades on the CSE with CLAR. News Release
Defiance Silver announced it has entered into an option to acquire 1,915 Ha surrounding the Tepal Gold-Copper Project in Michoacán, Mexico. Defiance has agreed to pay the annual concession fees until a production decision has been made, upon which Defiance will pay the vendor USD $2 million for 100% ownership of the mining concessions. Defiance has undergone a substantial desktop review of the Tepal asset and looks forward to following up on key targets generated during this review. Defiance trades on the TSX Venture with DEF. News Release
And Minera Alamos provided a construction update detailing progress at the Santana gold project, Sonora, Mexico, as the Company advances towards the commencement of mining. Leach solution ponds are fully lined and ready for operations. The plant foundations have been completed and all previously fabricated plant structures have been delivered to site for final installation. The crushing system previously acquired for potential future expansions at Santana or at the Company's Cerro de Oro project is in transit from the U.S. to the Company's staging facilities. Minera trades on the TSX Venture with MAI. News Release
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I’m Trevor Hall. Have a wonderful day. Be well.
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