Exploration News after a $57 Price Swing in Gold Futures
December contract gold futures traded in an expanded $57 price range yesterday as many of the miners saw sell offs and profit taking throughout the markets. You are listening to Mining Stock Daily.
And a good day to you. Welcome to Mining Stock Daily. This is your host Trevor Hall and today is Wednesday August 14th. Thank you so much for tuning in. Remember if you have any ideas or thoughts or just want to reach out and chat, feel free to do so by shooting me an email: Trevor@clearcreekdigital.com.
Well let's get underway. Today's briefing 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 at westerncopperandgold.com.
Here's what you need to know out of today's Junior Mining Sector. Endeavour Silver shared results from its ongoing 2019 exploration program on the Parral project in Chihuahua Mexico. The company says it has completed 15 surface and underground drill holes totaling over 3000m and 462 underground channels samples in 3 blocks in the Sierra Plata mine on the Veta Colorado vein system. The Veta Colorado was a past producing mining operation owned by Grupo Mexico that closed in 1991 due to the low silver price. Endeavour acquired the Veta Colorado properties in 2016 along with the past producing San Patricio and Palmilla mines and related silver veins in the Parral district. The Veta Colorado is a major silver vein structure that ranges from 1-30m thick. It was mined on 7 levels down to 300m depths below surface in places and has been traced to 7km. Surface drilling highlights today included 346 g/t silver over 9.6m true width. Underground drilling highlights included 332 g/t silver over 13.1m true width. Endeavour Silver trades on the NYSE with the symbol EXK and on the TSX with EDR.
Xanadu Mines showed the results of its first batch of assays from its oxide gold drilling program at the flagship Kharmagtai Project in southern Mongolia. Highlights included 40m at 2.3 g/t gold from surface and 40m of 0.81 g/t gold. Follow-up drilling is underway and as the results from six diamond holes drilled as part of the program are still pending. Previous drilling on the area had focused on the sulfide copper and gold mineralization. The initial development of an oxide gold operation would be focused exclusively on mining and processing near-surface resources. Xanadu trades on the TSX and on the ASX with the symbol XAM.
Regulus Resources says it has mobilized an additional two drill rigs for a total of four at the AntaKori copper-gold project located in Peru. The additional drill rigs will allow the company to advance its 25,000m Phase 2 drill program and continue to expand the mineralization footprints at AntaKori. The current four holes in progress are 33A, 34, 35 and 36. Hole 33 was lost at 340m and had to be restarted. The company also shared that Hole 34, which is targeted to reach 1400m deep is progressing well. The company expects more news flow in the coming months. Regulus trades on the TSX Venture with the symbol REG and on the OTC markets with RGLSF.
There are lots of financials out late last night and today. Reporting companies included Superior Gold, EMX Royalty Corp, Maverix Metals, Alexco Resources, Seabridge Gold and Largo Resources.
That's going to conclude 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 your user app or within the Amazon website.
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