Contact Gold Extends Mineralization at Green Springs
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Tuesday, January 12th
On Monday Gold and silver rebounded from Friday's overt manipulative price ambush. After getting pushed down to $1820 early Sunday evening, gold rose $30 during the eastern hemisphere physical feeding frenzy. The Mining Stock Journal commented that the a.m. ex-duty import premium reported in India was as high as it's been in a long time, indicating that the Indians were buying gold full-throttle, treating Friday's sell-off like a Black Friday holiday sale. Silver at one point on Monday was up 2.5%. The Mining stock Journal noted that silver effortlessly popped back up above its 50 day moving average and appears technically to have the potential for an explosive move higher. The mining stocks were mired in the overall weakness of the stock market on Monday, with GDX falling 2%. The Mining Stock Journal suggested that weakness in the mining stocks was eithera head-fake or a possible signal that another attack on the gold price is imminent.
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.
Contact Gold reported results for 5 drill holes from the 2020 drill program at the Green Springs gold property, and included results for the first core hole hole ever drilled on the project. Results from the Echo Zone included 2.24 g/t oxide gold over 35.05 meters from a depth of 35 meters and included 3.14 g/t gold over 22.86 meters. This intercept further extends the footprint of gold mineralization in the northern Echo Zone. Other results included .15 g/t gold over 3 meters, which was intersected below the past-producing Charlie. This confirms Contact Gold’s primary target concept that the unexplored Pilot Shale hosts gold mineralization beneath the Mine Trend at Green Springs. Contact Gold trades on the TSX Venture with C and on the OTCQB with CGOL. News Release
Vizsla Resources provided results from two new holes at the Tajitos vein zone at the Panuco silver-gold project in Mexico. Those results included 910 g/t silver equivalent over 13.5 meters, which also included a 1.5 meter wide interval of 3,157 g/t silver equivalent. This hole expands mineralization by about 50 meters to the southwest. The Tajitos vein zone is located along the Cinco Senores Vein Corridor. The Company is exploring to define the extent of the current zone of mineralization and is also seeking additional bodies of mineralization at vein intersections and dilation zones along the vein trend. Vizsla completed fourteen holes at Tajitos in 2020 and has received results from six holes. Vizsla trades on the TSX Venture with VZLA and on the OTCQB with VIZSF. News Release
Liberty Gold shared results from five large diameter core holes used for metallurgical testing at its Black Pine oxide gold property in southern Idaho. Those results included 3.32 g/t gold over 46.4 meters, 3.62 g/t gold over 8.1 meters and 1.44 g/t gold over 16.5 meters. The core holes will support Phase 3 metallurgical column testing over a larger area, including the CD and E historic pits, and will encompass more potential ore types than Phase 2 testing.The drill core will provide valuable material for metallurgical testing, specific gravity measurements and other testing pursuant to a maiden resource and Preliminary Economic Assessment (“PEA”) later in the year. Liberty Gold trades on the TSX with LGD. News Release
Chakana Copper released assay results from8 drill holes front he eastern portino f the Huancarama Breccia Complex on the Soledad Project in Ancash, Peru. Results included .31g/t gold,.53% copper and 34.6 g/t silver over 126.2 meters. The Huancarama Breccia Complex is located 300m south of and 400m above the deepest breccia intercept at Paloma. Within the complex there are five principal breccia bodies exposed at surface over approximately 200m. Chakana has resulted in 15,000m drill program at the project. The company trades on the TSX Venture with PERU and on the OTCQB with CHKKF. News Release
Palladium One received results from drilling at the Tyko nickel, copper and PGE project, specifically the Smoke Lake target. Results shared today contained several massive magmatic sulphides intercepts. Results delivered 7.5% nickel equivalent over 4.2 meters and 5.9% nickel equivalent over 1.7 meters. Mineralization remains open to the northwest and down dip. Palladium One trades on the TSX Venture with PDM. News Release
Talon Metals also had nickel assays back from drilling at the Tamarack Project in Minnesota. The company reported 8.39 meters of massive sulphide mineralization grading 8.15% Ni, 3.01% Cu, 0.19% Co, 0.54 g/t Pd, 0.62 g/t Pt and 0.17 g/t Au. Of note, this thick intercept of high-grade massive sulphide mineralization was discovered in a zone that historically produced much thinner intercepts. Talon trades on the TSX with TLO. News Release
First Cobalt announced a long-term cobalt hydroxide feed arrangement with Glencore and IXM SA will provide a total of 4,500 tonnes of contained cobalt per year to the First Cobalt Refinery commencing in 2022. The company says once operational, the First Cobalt Refinery will be North America's only producer of cobalt sulfate for the electric vehicle market. First Cobalt trades on the TSX Venture with FCC and on the OTCQX with FTSSF. News Release
In some production notes. Kirkland Lake says its annual production of 1,369K ounces of gold was within its full year guidance and represents a 41% increase from 2019. Roxgold announced its Preliminary 2020 gold production of 133,940 ounces exceeded the Company’s annual consolidated production guidance. Teranga gold reported its highest quarterly production in company history which drove its annual gold production higher by 40%, beating its full year guidance range. And it was a similar story with Calibre Mining. They exceeded expectations of their 2020 production range and have set their 2021 annual guidance to 170K-180K ounces of gold.
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I’m Trevor Hall. Have a wonderful day. Be well.
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