Corvus Extends Mother Lode Mineralization in the North

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

Today is Tuesday, February 9th

Gold jumped another $21 on Monday. April gold traded as high as $1840 before settling at $1832. Gold has risen nearly $50 from last Thursday's blatant price ambush. Silver rose another 56 cents, or 2%, with March silver trading as high as $27.70 before settling at $27.36. Silver has reclaimed $1.41 from said price attack on Thursday. The  gold/silver ratio dropped to 66.51, it's lowest level since early July 2017. The Mining Stock Journal said that it's becoming more apparent to the market in general, especially participants who are keen on protecting their wealth, that the Biden Government, along with the Federal Reserve, is taking the U.S. monetary policy into a full-blown era of Modern Monetary Theory and the accompanying devaluative effect on the dollar. GDX rose 1.76% on Monday and is starting to make an assault on its 50 day moving average. The Mining Stock Journal said the Hulbert Gold Newsletter Sentiment Index rose to minus 16.67%.  The HGNSI has now been negative for 6 of the last 8 days. This is shaping up to be one of the most important negative phases for the HGNSI in recent history, and is very bullish for the precious metals sector.

 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… Rio2.

Rio2 is advancing the Fenix Gold Project in Chile, the largest undeveloped gold heap leach project in the Americas. Fenix consists of 5 million ounces in the measured and indicated resource category and 1.4 million ounces in the inferred resource category. With a robust PFS in place, Fenix is set up for fast-tracked construction and production. You can find a list of project and company information on their website, rio2.com.

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

Contact Gold released the latest round of drill results from the Green Springs oxide gold project in Nevada. Today’s results come from the Alpha Zone and contain a some of the thickest intervals, including 48.77 meters of .69 g/t gold and 39.63 meters of 1.45 g/t gold. Alpha remains open for expansion in all directions and sits on the same northeast structure linking Bravo to Alpha and Tango. There are still 14 holes with pending assays from Green Springs. Contact Gold trades on the Venture Exchange with C and on the OTCQB with CGOL. News Release

Corvus Gold announced they have received results from the new Northern, High-Grade Feeder Zone target of the Central Intrusive Zone (CIZ) at the Mother Lode project. One hole of note drilled through the Main Zone returning 30.2m @ 1.42 g/t gold and then through the second intrusive dike of the CIZ below returning 86.9m @ 1.65 g/t gold, including 56.4m @ 2.34 g/t gold. Another hole drilled 50 metres to the east intersected 110.8m @ 1.68 g/t gold, including 58.7m @ 2.47 g/t gold where the Main and CIZ come together. These new, Northern Feeder Zone holes continue to enlarge the high-grade zone of mineralization in this part of the Mother Lode deposit and appear to further expand the deposit. The new Mother Lode mineral resource estimation will utilize the entire project drilling between August of last year through June of this year with an expected release planned for fall of this year. Corvus Gold trades on the TSX and the Nasdaq with KOR. News Release

AUX Resources reported assay results for the 2020 drill program at the Georgia Project, which hosts the past-producing Georgia River Mine. Georgia is located on the Portland Canal tidewater, 16 kilometres south of the town of Stewart, BC. Those results included 103 g/t gold and 53 g/t silver over 2.74 meters and 126 g/t gold and 74 g/t silver over 1.1 meters. This drill program extended mineralization at Georgia along strike and at depth. There remain assays pending on the 5,000 meters of recovered historic diamond drill core along with channel samples from outcropping silver mineralization at the Silver Crown property. AUX trades on the TSX Venture with AUX andon the OTC with AUXRF. News Release

Omai Gold Mines announced results from a program of logging and sampling of 6,000 meters of unassayed core from a 2012 drilling program that had been preserved by the Guyana Geology & Mines Commission (GGMC). As announced on December 15, 2020, assays from the first two of these holes indicate high-grade mineralization extends below the Wenot Pit with additional expansion potential of gold mineralization into the sedimentary units to the south. The new results from other holes confirm these conclusions. Results included 9.1 g/t gold over 14 meters and 6.9 g/t gold over 1.5 meters. Omai Gold trades on the Toronto Venture with OMG. News Release

Denison Mines reported results from the 2020 exploration and expansion drilling program focused on the area proximal to the high-grade Phoenix uranium deposit at the Company's 90% owned Wheeler River Uranium Project. During the program, 19 drill holes were completed for a total of approximately 7,400 metres – all of which were located outside of the extents of the mineral resources currently defined at Phoenix. Results included 5 meters of 5.69% U3O8 and 2.5 meters of 8.84% U3O8. Denison trades on the TSX with DML and on the NYSE with DNN. News Release

This morning Equinox Gold released their 2021 production guidance. The guidance set is fairly progressive at 600,000 to 665,000 ounces of gold, which is a 33% increaser over 2020. Cost guidance includes cash costs1 of $940 to $1,000 per ounce of gold sold and all-in-sustaining costs1 of $1,190 to $1,275 per ounce of gold sold. Guidance will be updated to include the Mercedes mine and Hardrock project following completion of the proposed acquisition of Premier Gold Mines, which is expected to close in March subject to all necessary securityholder and regulatory approvals. The Company may revise guidance during the year to reflect changes to expected results. Equinox trades on the TSX and the NYSE American with EQX. News Release

Elemental Royalties says they have completed the acquisition of the portfolio of precious metal royalties from South32. As consideration for the transaction, Elemental made a cash payment of US$40 million and issued 13,065,100 common shares to South32, representing approximately 19% of the issued and outstanding common shares of the Company. Elemental trades on the TSX Venture with ELE and on the OTCQX with ELEMF. News Release

Mining Stock Daily is distributed over a dozen different networks throughout the world and in proud partnership with the Junior Mining Network. It is produced by Clear Creek Digital and Investment Research Dynamic's Mining Stock Journal.

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

The information presented should not be considered investment advice. Mining stock daily and its affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein. Please do your own research or speak with a licensed financial representative before making any investment decisions.