Corvus Gold & Osino Resources Highlight Today's Drill Updates

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

Today is Tuesday, November 17th.

Monday was somewhat of an uneventful day for gold and silver, as gold settled up $1.60 from Friday's close while silver finished the day up a few cents. The mining shares were largely flat. Paper gold was given a $30 ride lower early Monday morning when news of Moderna's potential virus vaccine hit the tape, with December gold cliff-diving from $1892 to $1862. However, gold investors were treated with a sharp V recovery, as December paper gold traded as high as $1894 by noon NY Time. Given that the U.S. Government spending deficit hit an all-time of $284 billion to start off the Government's fiscal year in October, it's only a matter of time before the Fed is forced to announce another massive round of money printing. Interestingly Citigroup is forecasting a 20% decline for the U.S. dollar in 2021, which would be on top of the 11% drop in the dollar since mid-March. The Mining Stock Journal commented that accelerating Government deficits combined with a declining dollar is like rocket fuel for gold and silver. The newsletter added that it expects the gold price to be comfortably over $1900 before Christmas. 

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.

Corvus Gold received additional results from its new Lynnda Strip discovery east and west of the previously announced discovery hole. Results there included 2.06 g/t gold over 42.7 meters, which also included a subinterval of 4.88 g/t gold over 12.2 meters. Another hole returned 1.63 g/t gold over 33.5 meters and included a 7.6 eter interval of 3.96 g/t gold. Corvus believes that ongoing core drilling at Lynnda Strip has shown the system could extend an addition 100 metres below the initial RC drill holes announced to date with oxidation that could be excess of 500 metres deep. The company trades on the TSX and the NASDAQ with KOR. News Release

Osino Resources provided updates and drill results on the work being done at the Clouds, Twin Hills West and Barking Dog targets adjacent to and along trend from Osino’s Twin Hills Central gold project in north-central Namibia. Significant assays received at Clouds West and East confirm the discovery of two new zones of gold mineralization, including higher grade shoots up to 1500m from the eastern edge of THC. The Clouds mineralization occurs along a strong IP anomaly, which appears continuous along the entire combined 3100m strike length. Results from Clouds West included 1.22 g/t gold over 27 meters. Clouds East returned .75 g/t gold over 76 meters. These new discoveries indicate the potential to double the mineralized strike at THC, thereby also significantly growing THC’s contiguous resource potential. A high intensity drill program has been put in place to drill out the Clouds targets and the gap between THC and Clouds before the end of Q1 2021. Osino trades on the TSX Ventue with OSI and on the OTCQB with OSIIF. News Release

Premier Gold Mines shared exploration results which expand the footprint of the Epp-C and Epp-D zones on the Hasaga Project in Red Lake, Ontario. Results included 4.93 g/t gold over 17 meters and 76.12 g/t gold over 3.5 meters. The Hasaga Property is located contiguous with Pure Gold Mining's Madsen Project and is host to the past producing Hasaga, Buffalo and Goldshore mines. Premier Gold trades on the TSX with PG and on the OTCPK with PIRGF. News Release

And in the uranium sector, IsoEnergy also had additional chemical assay results from the summer drilling program. Today’s results included 11 meters averages 6.9% U3O8, including 1.5m of intense mineralization that averages 49.3% U3O8. Assays are pending for four mineralized drill holes, including drill hole LE20-76, which intersected 7.5m of uranium mineralization including 3.5m of continuous off-scale radioactivity. IsoEnergy trades on the TSX Venture with ISO and on the OTCQX with ISENF. News Release

Revival Gold shared results from a Preliminary Economic Assessment on the company’s Beartrack-Arnett project in Idaho. The PEA highlights a 72,000 oz annual production totally 506,000 ounces over a 7 year mine life with pre-production capital of $100 million needed to get the heap leach operation going. With an all-in sustaining cost of just over $1,000 per ounce of gold, the project shows an after-tax NPV of $88 million and an IRR of 25% using a $1,550 per ounce gold price. Revival Gold trades on the TSX Venture with RVG and on the OTCQB with RVLGF. News Release

Skarb Exploration reported this morning it has closed the non-brokered private placement. Originally planned for a $6 million financing, the deal was upsized to over $11 million dollars. The company will soon be renamed Outback Goldfields and will soon begin exploration work on a project located near the Fosterville Gold Mine in Victoria, Australia. Currently, Skarb trades on the CSE with SKRB. News Release

Golden Minerals announced it received final environmental permits for its Rodeo gold-silver project located in Durango State, Mexico. The Company is presently on track to begin gold production in January 2021, which will mark the transition of Golden Minerals to gold producer from precious metals exploration company. The company trades on the TSX and the NYSE with AUMN. 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.

Mining stock daily and its affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein.