Drill Results from SilverCrest Metals and Brixton Metals
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Thursday, April 15th.
After a somewhat small range of yo-yo'ing overnight on Wednesday, the gold price was smashed promptly right after the Comex floor trading opened, taking the paper price from $1746 down to $1736. Paper silver dropped 20 cents but promptly rallied and is trading at its highest price since March 23rd as this commentary is being written. The paper market price hit occured in the absence of any news that might have triggered a sudden drop in the price. The mining stocks initially ignored the paper market price hit but sold off a couple hours after the market opened before bouncing late in the day, with GDX closing down but above the low of the day. The Mining Stock Journal has good reason to believe that March marked a bottom in the sector pullback that began in August. The newsletter will explain why in today's new issue release, as well as provide updated recommendations on several mining stocks including US Gold, Blackrock Silver, Pure Gold Mining and Integra Resources.
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.
SilverCrest Metals were out with more drill results this morning from the Las Chispas Project in Sonora, Mexico. The results come from additional in-fill and expansion drilling around the project. Highlights reported included 2.3 meters of 14,034 silver equivalent and 3.7 meters of 9,602 g/t silver equivalent. 78 holes in total were reported this morning, totally just under 30,000 meters of drilling. Currently, priority drilling is active at the Splay and Granaditas veins which host Inferred Mineral Resources that were not included in the Feasibility Study mine plan. The Feasibility Study outlines planned underground development which terminates within approximately 180 metres of high-grade drilling intercepts in the Splay, making this a priority target area for resource conversion to reserves. SilverCrest trades on the TSX with SIL and on the NYSE American with SILV. News Release
Brixton Metals reported more silver results from its fall and winter exploration program on the Langis Project in Ontario. Results included 5 meters of 642 g/t silver and .03% cobalt, which also included a 1 meter interval grading 1470 g/t silver. There was also a separate hole grading 591 g/t silver over 5 meters reported in this batch of results. The company is still awaiting assays for 14 drill holes from this campaign. Brixton trades on the TSX Venture with BBB and on the OTCQB with BBBXF. News Release
EMX Royalty has options the Copper Warrior copper project in Utah with Warrior Metals, a subsidiary of American West Metals, a privately held Australian corporation. The Agreement provides EMX with cash and share payments, as well as work commitments during Warrior Metals' earn-in period. Upon earn-in, EMX will retain a 2% NSR royalty and receive increasing annual advance royalty payments. EMX recognized Copper Warrior's exploration potential after identifying disseminated sandstone-hosted copper mineralization hosted along normal faults and in receptive stratigraphic units within Lisbon Valley, part of the Paradox Basin of southeastern Utah and southwestern Colorado. EMX trades on the TSX Venture and the NYSE American with EMX. News Release
Now we turn it over to Kai Hoffman for this week’s Oreninc Weekly Update:
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And one notable financing to just hit the tape comes from Aurelius Minerals. They intend to complete a non-brokered private placement offering consisting of common shares of the Company at a price of $0.06 per Common Share on a pre-consolidation basis , and common shares which will qualify as "flow-through shares" at a price of $0.0675 per Flow-Through Share on a pre-consolidation basis. Aurelius also announces that it intends to complete a share consolidation on the basis of 10 existing Common Shares for one new consolidated common share, which the Company anticipates completing on the Closing Date. Aurelius trades on the TSX Venture with AUL. News Release
And a few exploration updates to quickly share, FireFox Gold says they have encountered coarse visible gold in the first drill hole of a newly commenced phase 4 diamond drilling program at its 100%-owned Mustajärvi Gold Project in the Central Lapland Greenstone Belt of northern Finland. The drill core is being logged and prepared for sampling, so no assays are available yet to confirm the quantity or extent of gold in the drill hole.
And Northern Lights Resources says they have egun drilling at the Secret Pass Project in Arizona. The diamond core drill from Altar Drilling was mobilized to the Fiery Squid drill site on Monday.
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I’m Trevor Hall. Have a wonderful day. Be well.
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