Drill Results from Gatling Exploration and Great Bear Resources
[00:00:00] We have a round of impressive exploration drill results to cover this morning from the Junior Resource Sector. We'll run down the numbers with you today here on Mining Stock Daily.
[00:00:16] And good day to you everybody, welcome to Mining Stock Daily. Today is Wednesday August 21st and this is your host Trevor Hall. Thank you for tuning in. The price of gold continued to defy all attempts by the price containment teams in New York and London to implement a successful attack as a yellow dog and that bounce back from yesterday's price plunge to close at $15.17, futures basis at $12.00 above the overnight low. But the real star of the day was silver which soared 1.2% on Tuesday to close comfortably above $17.00, at $17.14 on a front month futures basis. The Mining Stock Journal has waved the white flag. I'm looking for a substantive correction for now, commenting that it feels like the presence of a buyer with an enormous appetite for physical gold and silver is supporting the bullish energy behind the market.
[00:01:07] Today's briefing is sponsored by Minera Alamos. Minera Alamos is an advanced stage exploration and development company with multiple low CapEx projects in Mexico. Monaro is traded with the symbol MAI on the TSX Venture and with MAIFF in the US OTC markets. Read more about their development strategies at mineraalamos.com. Here's what you need to know today out of the Junior Resource Sector.
[00:01:34] Gatling Exploration reported new drill results from its initial program at the Cheminis Deposit. The second drill rig has intersected high-grade, near-surface gold assays containing intervals of 12.3 g/t gold over 5m, including 18.1 g/t over 3m. The drill results are 2km to the west of the Bear Deposit, where drilling continues to probe down plunge and strike extensions. All three holes drilled at the Cheminis Deposit to date, have intersected gold mineralization within the upper 50m. The gold bearing units can't be traced on surface for over 400m along strike within the historical Cheminis mine site. The mine has over 3000m of development with six main levels, multiple stopes and shaft. The mine is a central project to the Larder-Lake gold property and Gatling Resources. Gatling trades on the TSX with the symbol GTR and on the OTC markets with GATGF.
[00:02:36] Great Bear Resources shared new drill results from its Hinge and Dixie Limb Zones at the Dixie Project in Ontario. A new steeply plunging sub-zone was discovered to the west of, and above, most previous drilling in the Hinge Zone. Results include 30.81 g/t gold over 2.1m within a broader zone of 7.4 g/t gold over 13.2m at only 68m vertical depth. The new Hinge Zone sub-zone was also tested to approximately 140m vertical depth where assays returned 20.41 g/t gold over 2.2m. Within a wide interval of 2.07 g/t gold over 29.8m Great Bear trades on the TSX Venture with the symbol GBR and on the US OTC markets with GTBDF.
[00:03:31] Bluestone Resources also shared drill assays this morning. The focus of their current drill program is the conversion of Inferred Resources within key veins in the upper part of the Cerro Blanco ore body and vein extensions outside of the current resource. The recent Cerro Blanco feasibility study from January showed 357,000oz of Inferred Resources that could be potentially converted to measured and indicated resources through infill drilling. Highlights from today's results included 11.2 g/t gold and 78 g/t silver over 13.7m. The company trades under the symbol BSR on the TSX Venture and with BBSRF on the OTC markets in the US.
[00:04:18] Treasury Metals announced that Canadian government has granted environmental approval for the company's Goliath Gold Project in northwestern Ontario, thereby authorizing the company to proceed with the construction of a mining operation. The project is slated to become one of Canada's next producing gold mines. The Mining Stock Journal believes that on a risk adjusted basis, Treasury Metals shares on them considerably undervalued. The shares trade in the US under TSRMF and under TML on the Toronto Stock Exchange.
[00:04:51] That concludes today's briefing. We'll connect again tomorrow. Remember you can find Mining Stock Daily on a dozen different networks including iTunes, Spotify and Google Play. For Amazon Alexa users be sure to enable the Mining Stock Daily flash briefing on the user app or within the Amazon Web site. We've also been recording live on Instagram with the Instagram live stories, so you can find me on Instagram as well if you'd like to tune in there early every morning. That's it for me today. Have a wonderful day, I'll be back again tomorrow. Be well.
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