Contact Gold Reports Highest-Grade Intercept at Charlie to Date
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Tuesday, February 23rd.
Gold had a nice bounce of a technical line of support yesterday, adding more than $30 to its price, closing at $1808.Despite the nice gains in yesterday’s market, the yellow metal is still more than $40 away from other key indicators including its 50 and 200 day moving averages, which are both located around the $1850 level on the daily chart. Silver also had a nice day yesterday, up more than 3% on the day at 28.08. Silver continues its upwards trend, perhaps showing a sign that its ready to play catch up after gold’s big move in the summer of 2020. But all economic eyes are on the Fed Chairman Jerome Powell this week as he settles in before congress. With fast rising bond yields and economic stimulus in the driver’s seat, we are only left to speculate to which way Jerome and the Fed crew might direct the big rig.
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.
Contact Gold shared new drill results this morning from the Green Springs Project and its Charlie North Zone. In fact, the company reported the highest-grade drill intercept at Charlie to date, which was 2.34 g/t oxide gold over 33.53 meters. It was the first core hole ever drilled at Charlie. Charlie is at the centre of the Green Springs mine trend, and these results demonstrate that wide intervals of gold mineralization above 2 g/t Au exist at all of the 5 zones drilled to date. The now 3km trend continues to show a clear path to expanding the gold mineralization footprint between zones and to the south and northeast. Results for another 7 drill holes at Green Springs are still pending. Contact Gold trades on the TSX Venture with C and on the OTCQB with CGOL. News Release
Calibre Mining provided an update of the company’s 2020 drilling program, highlighting the new Atravesada underground zones at Limon where no current gold resource is reported. Drill results at Atravesada included 7.98 g/t gold over 6.8 meters and 8.92 g/t gold over 9.8 meters. The company says 2020 resource expansion and infill drilling programs will lead to significant reserve increases at Limon and Libertad when the Company reports at the end of the first quarter of 2021. Calibre’s 2021 exploration program is now well underway and is expected to include approximately 60,000 metres of drilling. The company trades on the TSX with CXB and on the OTCQX with CXBMF. News release
Sokoman Minerals says its ongoing Phase 6 drilling program at the 100%-owned Moosehead Property has intersected near-surface, high-grade gold mineralization in step-out drilling at South Pond. Hole 141, drilled as a step-out 15 meters to the north of a previously important well mineralized hole returned 64 g/t gold over 4.2 meters, including a 1.2 meter interval of 223.63 g/t gold. There is currently one rig on the property with a second rig arriving shortly to focus on high-priority targets outside of the known mineralized trends. Sokoman trades on the TSX Ventue with SIC and on the OTCQB with SICNF. News Release
Silver Sand Resources shard the remaining results from the Phase I drill program. The company says drilling exceeded management's expectations as it has extended known mineralization along strike at Julia South, Martina SE and Ely Central; added new zones of mineralization along known vein structures and identified new zones of mineralization within previously untested veins. The results from Phase I drilling support management's belief that the global silver resource of the Virginia vein field can be increased significantly. Results reported today included 124.43 g/t silver over 85 meters and 70.8 g/t silver over 13 meters. Silver Sands trades on the CSE with SAND and on the OTCQB with SSRSF. News Release
Heliostar Metals announced complete results from the first hole at the Aquila target in the Unga project, in Alaska. The company first reported partial results for this drill hole in its November 23, 2020 news release. The complete assay returned 4.46 g/t gold over 3.6 meters and 2.24 g/t gold over 17.37 meters. The Aquila target is a series of outcropping epithermal quartz veins located along the Shumigan vein trend. Heliostar targeted the area because historic work showed multiple areas of outcropping mineralization whilst limited, widely-spaced drilling did not match surface results. Heliostar trades on the TSX Venture with HSTR. News Release
First Cobalt says a geophysical survey of its Iron Creek cobalt-copper deposit in Idaho, USA has identified several new drill targets. Data provides further support for a resumption of drilling to expand the Iron Creek deposit and test new targets over a 2-kilometer radius within the Property. High chargeability zones were detected along strike of the Iron Creek cobalt-copper deposit, which presents an opportunity to more than double the strike length of the current mineralization. Additional high chargeability anomalies were also detected in the footwall of Iron Creek, highlighting the potential for new mineralization within the resource area. First Cobalt trades on the TSX Venture with FCC and on the OTCQX with FTSSF. News Release
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I’m Trevor Hall. Have a wonderful day. Be well.
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