Exploration Results Abound This Morning

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

Today is Tuesday, July 7th.

The gold price - August contract basis - rallied overnight on Monday and then shot up hugely after the a.m. London price fix. At one point gold threatened to go over $1800 again but that price level was repudiated by the price management team. As this is being written, August gold is threatening to pop over $1800 again. The Mining Stock Journal commented that India returned as a buyer with a vengeance on Sunday night into early Monday morning. This is based on rather large ex-duty import price data from several gold trading hubs in India. Silver once again was the Princess Bride, as it outperformed gold on Monday by a 7 to 1 margin on a percentage basis. The gold silver ratio dropped 1.2% and appears to be headed for another date with its 200 day moving average at 94.7 as of Monday's close. Stepping back and looking at the big picture, the Mining Stock Journal said that the charts for gold and silver - along with the charts for the various mining stock indices - reflect the potential for an explosive upside move.

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 robust list of project and company information on their website, rio2.com.

And here’s what you need to know this morning …

Pure Gold Mining says underground exploration drilling, initiated in June, has intersected high-grade gold mineralization from both infill and step-out drill holes. Drilling has extended gold mineralization out from planned stopes, has discovered new gold zones that will be integrated into the mine plan, and has confirmed stopes scheduled for near term production. Drilling results shared today included 46.7 g/t gold over 7 meters, including 193.5 g/t gold over 1 meter. n addition to the ongoing underground program, two surface drills have commenced drilling at the Wedge zone, located three kilometres from the PureGold milling facility.  This is one of the key growth areas outside of the phase 1 mine plan. Exploration drilling is expected to continue into 2021, with over 30,000 metres of drilling planned. Pure Gold trades on the TSX Venture with PGM. News Release

O3 Mining provided new drill results from its East Cadillac property in Val D’Or, Quebec this morning. Drilling highlights included 46.4 g/t gold over 1.3 meters in the Nordeau East zone and 16.6 g/t gold over 1.5 meters in the Nordeau West zone. The Nordeau West zone is located just east of the former Chimo mine and covers the same prospective stratigraphy. O3 trades on the TSX Venture with OIII. News Release

GR Silver shared drill results from its Plomosas Silver Project in Sinaloa, Mexico. The drill holes reported today were generated by a drill campaign completed by First Majestic in 2018 and not previously released. GR Silver says the drilling intercepts confirm prospective, near-surface, multiple vein systems peripheral to other drilled areas. This creates the potential to delineate a much larger epithermal system for future drilling and resource estimation. Results included 1,723 g/t AgEq over 2.7 meters, including 5,055 g/t AgEq over .9 meters. GR Silver trades on the TSX Venture with GRSL and on the OTCQB with GRSLF. News Release

Genesis Metals reported assay results from the remaining five holes completed as part of its 2020 Phase 1 diamond drilling program. Results included 9.71 g/t gold over 3.65 meters, which was within a wider zone of 1.93 g/t gold over 76 meters. And 14.4 g/t gold over 2.2 meters. The objective of the Phase I program was to drill test the down plunge continuity of newly recognized high-grade gold shoots within the Chevrier Main deposit area. Plans for a second phase of drilling will be announced in the near future. The Chevrier Gold Project is located in the eastern Abitibi Greenstone Belt of Central Quebec. Genesis trades on the TSX Venture with GIS. News Release

Erdene Resources announced drilling results from the Midfield Southeast zone of the Company’s 100%-owned Bayan Khundii Gold Project in Mongolia.Highlights shared today included 126 g/t gold over 5.5 meters including 1 meter of 582 g/t gold. The company says they did intersect anomalous gold mineralization in 16 of the 18 holes, all within 25 meters from surface. The target area is classified as a waste or low-grade stockpile material in the current resource, but is now projected to be mine in year-one of the current mining schedule. Erdene Resource Development trades on the TSX with ERD. News Release

EMX Royalty will purchase a portfolio of royalty and property interests from Canadian prospector and entrepreneur Perry English for C$3 million. The Portfolio consists of over 60 properties, including 52 projects optioned to third parties, of which 39 include provisions for NSR royalty interests. The Portfolio will generate cash flow to EMX from option payments of more than C$2.5 million over the next three and a half years, as well as share-based payments valued at ~C$800,000 using current market prices. Based on a current valuation, EMX's investment will pay for itself, with the Company retaining upside from NSR royalty interests that range from 0.75% to 2.5% on the 39 optioned projects. The purchase of this portfolio marks EMX's entry into Canada's Superior Province, which hosts several highly productive mining districts and greenstone belts in Ontario and Quebec. The Portfolio includes properties in the prolific Red Lake district, as well as in the highly prospective districts of the Abitibi, Uchi, Wabigoon and Wawa sub-provinces. EMX trades on the TSX Venture and the NYSE with the symbol EMX. News Release

Integra Resources has applied to list its issued and outstanding common shares on the NYSE American. Integra’s Common Shares would trade on the NYSE American under the ticker symbol “ITGR”. A trading date will be announced once all regulatory requirements are satisfied. In connection with the planned listing on the NYSE American, the Company will consolidate all of its Common Shares on the basis of one new post-consolidation Common Share for every two and a half existing pre-consolidation Common Shares. 

Arizona Mining announced it has commenced a 1,300m drill program at its Sugarloaf Peak Project in La Paz County, Arizona. The company plans on intersecting a large, untested geophysical target identified through induced polarization data. Arizona Metals trades on the TSX Venture with AMC. News Release

That is all from us here at Mining Stock Daily this morning. We’ll be back throughout today and the rest of the week with more news and commentary out of the mining and precious metals sector. Be sure to hit that subscribe button if you have not done so already. And for any follow up questions, please feel free to email me at trevor@clearcreekdigital.com. 

Mining Stock Daily is distributed over a dozen different networks throughout the world and in proud partnership with the Junior Mining Network. It is produced by Clear Creek Digital and Investment Research Dynamic's Mining Stock Journal. 

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

Mining stock daily and its affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein.