Corvus Makes New Oxide Gold Discovery

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

Today is Thursday July 16th.

Both gold and silver experience high turbulence on Wednesday, with gold trading between $1804 and $1820 and silver ranging from $19.53 to $19.87. Gold finished basically flat on the day while silver climbed 1.18% in correlation with the move higher in the stock market. The gold/ silver ratio dropped another 1.2% on Wednesday to 91.7. It was last at this level at the beginning of March before the abrupt but brief cliff-dive in the precious metals sector that accompanied the 34% plunge in the stock market. The Mining Stock Journal said that silver's outperformance of gold likely reflects both silver's industrial and wealth protection attributes, with the hedge fund algos chasing silver higher in sympathy with the economic "V" propaganda that has engulfed the stock market and that is infused in Wall Street's "buy stocks" now propaganda. The mining stock newsletter further noted that it expects that silver will breach $20 well before Labor Day and the gold/silver ratio to continue heading lower.

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 10 billion pounds of copper and 18 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 …

Corvus Gold reported new assay results from drilling at the Lynda Strip target which lies 2.5 KM northeast of the company’s Mother Lode project. The Lynnda Strip mineralization is a combination of structurally and stratigraphically controlled oxide gold below approximately 150 metres of cover.  Drill hole CH20-11 returned an oxide zone totalling 197m @ 0.44 g/t Gold including 44.2m @ 0.90 g/t Gold & 20m @ 0.74 g/t Gold.  Higher-grade intervals are associated with stockwork quartz veining hosted in volcanic rocks which is similar to the historic Bullfrog Mine and Corvus Gold’s YellowJacket gold deposits. Corvus Gold will be conducting a follow-up drill program to test the upper part of the system, which Corvus Gold projects to be higher grade. Corvus Gold trades on the TSX with KOR and on the OTCQX with CORVF. News Release

Talisker Resources also shared new drill results this morning, these coming from the company’s Bralorne project in British Columbia. Hole 6 targeted the 59 Vein, intersecting the structure at 527m returning 11.2 g/t gold over 0.5m within a 3m zone showing up to 2.16 g/t gold in the vein halo. This intercept of the 59 Vein from hole 6 is 100m along strike, and 80m up-dip of the previously reported intercept from hole 5A which yielded 5.81 g/t Au over 0.97m. Hole 7 was targeting the near-surface continuation of high-grade shallow gold results near the top of hole 5A. At 56.4m downhole, a vein structure was intersected which produced two consecutive samples of quartz vein yielding 3.18 g/t and 31.1 g/t gold. Talisker trades on the CSE with TSK and on the OTC markets with TSKFF. News Release

Amex Exploration has new drill results out from its six-drill, 200,000 m drill program on its 100% owned Perron property in northwestern Quebec. Today's results are from the Eastern Gold Zone, which is one of four known zones on the Perron Property. Results included 44.22 g/t Au over 9.10 meters which is located approximately 600 metres vertically below the highest grade interval reported to date of 393.33 g/t Au over 1.70 m in hole PE-19-22. In addition, hole PE-20-173 returned a value of 9.75 g/t Au over 10.45 m. These holes have expanded the known high grade body of the high grade zone. The Company also wishes to report that it continues to intercept visible gold mineralization in all pending drill holes, which have targeted the HGZ, Denise Zone, the westward extension of the Denise Zone and the Grey Cat Zone. Assays will be published as they are received. Amex Exploration trades on the TSX Venture with AMX and on the OTC markets with AMXEF. News Release

IncaOne says it has received $1.8million from the exercise of approximately 4.5 million common share purchase warrants. The Company intends to use the proceeds of the warrant exercise for purchases of gold-bearing material and for general working capital purposes. The warrants were originally issued in connection to a public offering of units completed by Inca One in January 2018 and subsequently repriced by the Company in March 2020. The repriced warrants featured an acceleration clause forcing the exercise of the warrants within a period of 30 days after the Company's shares closed above $0.50 per common share for 10 consecutive trading days. IncaOne trades on the TSX Venture with IO and on the OTC markets with INCAF. News Release

Barrick reported preliminary second quarter sales of 1.22 million ounces of gold and 123 million pounds of copper, as well as preliminary second quarter production of 1.15 million ounces of gold and 120 million pounds of copper. President and chief executive Mark Bristow said these results positioned Barrick well to achieve its guidance for the year, despite the impact of the global Covid-19 pandemic and the resultant lockdowns. 

McEwen Mining reported consolidated production for Q2 2020 was 15,700 gold ounces and 359,400 silver ounces. Production was significantly impacted by temporary mine suspensions at all four of our operations as a result steps taken to stop the spread of COVID-19, along with operational issues at several mines. 

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

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