Corvus Gold Drills Mother Lode's Deep CIZ Zone

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

Today is Thursday, March 25th. 

It may be short-lived, but gold rose $9, which spoils the narrative that gold trades inversely with the dollar, as the dollar rose close to a quarter of a percent, which doesn't sound like much, but in currency terms it's a respectable move higher. Silver was flat on Wednesday, which the Mining Stock Journal suggested reflects the industrial usage component of silver's value as the economic reports this week suggest that economic activity is beginning to contract again. The mining stocks continue to their weakness, with GDX falling 1%. The Mining Stock Journal suggested that the sell-off in mining stocks despite the rise in the gold price, was correlated to the drop in the stock market, led by the Nasdaq which fell 2%. Notwithstanding the current technical and manipulated weakness in the precious sector, the Mining Stock Journal believes it's time to start allocating capital first to the acquisition of physical gold and silver and second to your favorite mining stock ideas.

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 has received additional results from the high-grade Central Intrusive Zone (CIZ) in the central feeder zone target of the at the Mother Lode project. Hole ML20-162CT drilled through the Main Zone returning typical width and grade (38.3m @ 2.15 g/t gold) and then went through multiple high-grade zones in the dominantly oxide lower CIZ, returning 34.7m @ 4.24 g/t gold, 35.9m @ 1.77 g/t gold, 24.8m @ 2.47 g/t gold & 8.9 g/t silver, 40.5m @ 1.45 g/t gold.  These multiple high-grade intercepts cover a total of 196.7 metres of down hole length and outline an important gold zone in the central high-grade feeder with increased potential to continue at depth. As with all intercepts in the deep CIZ oxide target these high-grade zones are related to intrusive dikes and show a strong association with a deeper, hotter gold system.  Hole ML20-161CT was lost in the top of the CIZ due to poor drilling conditions but did intersect the Main Zone (11.0m @ 1.15 g/t gold) and the first high-grade zone of the CIZ with 73.2m of 1.58 g/t gold, including 40.7m @ 2.40 g/t gold.  Corvus will look to follow this hole up with another core-tail hole to extend the zone at depth in the future. The company says the more this deeper part of the Mother Lode deposit is explored, the stronger the association there appears to be with a deep, hot, porphyry related mineralizing environment, which could be an important driver of gold systems along the large regional, Mother Lode – Silicon belt (including the Lynnda Strip discovery). Corvus trades on the TSX and the Nasdaq with KOR. News Release

GR Silver Reported results from the Company's current core drilling program, demonstrating wide intercepts of silver mineralization from underground drilling in the Plomosas Mine Area at the Plomosas Silver Project in Sinaloa, Mexico. The wide intervals, including 21 m of drilled silver mineralization, represent un-mined zones extending the mineralization footprint along strike and down-dip. The silver mineralization was intercepted up to 350 m below surface, in areas previously not drilled. An additional surface hole, completed in the vicinity of the Plomosas Mine Area, is also reported in this News Release, delineating a new wide zone of Pb-Zn-Ag-Au mineralization hosted by quartz-sulphide rich, banded epithermal veins. Results included 21 meters of 466 g/t silver equivalent and 7 meters of 726 g/t silver equivalent. The underground drill hole results are part of the drilling program that will be incorporated with existing historic drilling data to support the upcoming resource estimate on the Plomosas Project. GR Silver trades on the TSX Venture with GRSL and on the OTCQB with GRSLF. News Release

Wallbridge says its first deep exploration hole on the Fenelon Gold Property intersected 17.23 g/t Au over 4.00 metres extending the known mineralization by 400 metres to a depth of 1.6 km. Drill hole FA-20-120A was designed to test the Fenelon Gold System at a depth of between 1.5 and 1.8 kilometres, over 500 metres below the deepest extent of past drilling. Additional assay results from this hole are still pending and will be released as soon as they become available. The Company is planning to complete several directional wedges around hole FA-20-120 later this year to assess the significance of the intersected gold mineralization. Wallbridge trades on the TSX with WM. News Release

Wheaton Precious Metals has entered into a definitive Precious Metal Purchase Agreement with Capstone Mining in respect to the Santo Domingo project located in the Atacama Region, Chile. Upon closing, Wheaton International will purchase 100% of the payable gold production until 285 thousand ounces have been delivered, thereafter dropping to 67% of payable gold production for the life of the mine. Wheaton International will pay Capstone a total upfront cash consideration of US$290 million (the "Upfront Payment"), $30 million of which is payable upon closing and the remainder of which is payable during construction of the Santo Domingo project, subject to customary conditions being satisfied, including Capstone attaining sufficient financing to cover total expected capital expenditures. In addition, Wheaton will make ongoing payments for gold ounces delivered equal to 18% of the spot gold price. Capstone will look to use this stream to advance the project to Feasibility for its battery-grade cobalt sulphate. Capstone trades on the TSX with CS. News Release

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

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