Commercial Production to Begin at Timok in Q2

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

Today is Tuesday, March 2nd. 

Once again, after big overnight rallies in gold and silver, driven by copious buying from India and rising premiums and volume on the Shanghai Gold Exchange, the prices of gold and silver were taken down during Comex paper derivative trading, completely erasing the gains that occurred while India and China were buying. The Mining Stock Journal emphatically points out that the entire price hit on Monday occurred AFTER India and China closed for the day, leaving only the paper derivatives in London and NY open. It's crucial to understand that the price-action on the Comex is completely disconnected from the underlying physical market for the metals, where signs suggest that a shortage in both metals is becoming more severe.

The mining stocks closed down slightly after jumping at the open. Using the RSI and MACD as technical benchmarks, the mining stocks are technically oversold and due for a bounce at the very least. YTD per GDX the mining stocks are down 13.4%, gold is down 9% and silver flat. The Mining Stock believes the aggressive manipulative effort to push gold down in place is, once again, part of the Fed's preparation for increasing the amount of money being printed in order to help fund the coming massive supply of new Treasury issuance to fund the new Administrations spending plans.

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… Western Copper and Gold.

Western Copper and Gold is focused on developing the world-class Casino project in Canada's Yukon Territory. The Casino project consists of an impressive 11 billion pounds of copper and 21 million ounces of gold in an overall resource. Western Copper and Gold trades on the TSX and the NYSE American with WRN. Be sure to follow the company via their website, www.westerncopperandgold.com.

And here’s what you need to know this morning.

EMX Royalty Corp provided an update on the Timok Project in Serbia, controlled and being developed by Zijin Mining Group. According to Zijin's latest public disclosures on the "Timok Copper and Gold Mine", commercial production is expected to commence in the second quarter of 20211. This is consistent with previous Zijin disclosures, and the project appears to be advancing on schedule. Zijin has projected that over 79,000 tonnes of copper will be produced per annum from the Upper Zone project once it reaches its full capacity, "with a designed throughput of 3.3 million tonnes per annum" for the milling facility. EMX holds an uncapped 0.5% net smelter return royalty on Timok's Brestovac license, which covers the Cukaru Peki copper-gold development project. EMX Royalty trades on the NYSE and the TSX Venture with EMX. News Release

Osino Resources provided an update on the resource and exploration drilling at Osino’s Twin Hills gold project including shallow high-grade intercepts at Clouds and further shallow, wide and consistently mineralized intercepts over 1 g/t from infill drilling at Twin Hills Central. Infill drilling at Twin Hills recorded 114 meters of 1.09 g/t gold. Two new holes at Clouds East intersected 8 meters of 12.7 g/t gold and 12 meters of 5.24 g/t gold. At Clouds Central, a second high-grade shoot intersected 4 meters of 13.71 g/t gold along with 4 meters of 11.15 g/t gold. An NI 43-101 compliant maiden resource estimate is now expected by early Q2 of this year with the Preliminary Economic Assessment expected in the alter part of the quarter a well. Osino trades on the TSX Venture with OSI and on the OTCQB with OSIIF. News Release

Unigold reported recent drill results from its 100% owned Neita concession in the Dominican Republic. Results included 7 meters of 21.9 g/t gold and 2.7% copper at Target B. The same drill hole passed through Target A and intersected 17 meters of 6.7 g/t gold and .1% copper. Four drills are currently active: two drills are testing the depth extensions at Target B and C, one drill is testing Target D, and one drill is exploring 4 kilometres to the west at the Montazo geochemical-IP anomaly. Unigold trades on the TSX Venture withUGD and on the OTCQX with UGDIF. News Release

Altus Strategies announced broad and high-grade intersections from reverse circulation drilling at the Tabakorole gold project located in southern Mali. Altus holds a 49% equity interest and 2.5% Net Smelter Return royalty on the Project. Exploration activities at Tabakorole are being funded by Marvel Gold Limited under its joint venture with Altus. Results included .94 g/t gold over 89 meters and .65 g/t gold over 96 meters. Results from the remaining 28 holes of the 6,300 meter RC program are expected shortly. Altus Strategies trades on the TSX Venture with ALTS and on the OTCQX with ALTUF. News Release

Outback Goldfields announced he start of a large airborne geophysical survey over the prospective Yeungroon project, central Victoria, Australia. The high-resolution, 8,000 line kilometre magnetic and radiometric survey marks an important step in Outback's plans to systematically advance the Yeungroon project and refine exploration targets. The Yeungroon geophysical survey is running concurrently with Outback's previously announced 4,000 metre drill program at the Glenfine Project, 160 kilometers south of Yeungroon. Outback Goldfields trades on the CSE with OZ and on the OTC with OZBKF. News Release

Ethos Gold announced its Board of Directors has approved a drill program on its fully permitted Perk-Rocky Copper-Gold Porphyry Project ("Perk-Rocky") located ~ 200 kilometers west of Williams Lake at the western end of a northwest trending linear array of porphyry copper mines and development projects including Highland Valley (Teck), New Afton (New Gold Inc.), Yalakom (Barrick) and New Prosperity (Taseko Mines Ltd.). The Perk-Rocky project contains a highly prospective, extensive 8 by 5-kilometer porphyry-style alteration footprint that may be related to one or more porphyry centers and contains copper sulphides at surface. Perk-Rocky is one of few road accessible, metal endowed magmatic-hydrothermal systems in British Columbia that has never been drill tested. The Company intends to carry out non-brokered private placements of flow-through units to raise gross proceeds of up to C$1,200,000 to fund its planned exploration activities. Ethos Gold trades on the TSX Ventue with ECC and on the OTCQB with ETHOF. News Release

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

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