Exploration Results from U.S. Gold, Gold Standard Ventures, Endeavour Silver & Aurion

Welcome to Mining Stock Daily. 

Today is Tuesday, November 12th. 

This is Trevor Hall and I welcome you to today’s briefing. 

Gold and silver were hit hard on Thursday and Friday last week, with most of the damage occurring after the Indian and Chinese markets had closed for the day. Specifically, most of the price decline over those two days last week occurred during Comex floor trading hours. Similarly on Monday, gold ran up $10 from Friday's close in overnight trading, as Indian imports are running full-tilt and likely pushed the price of gold on the world market higher. Then shortly after the London a.m price fix, the price of gold entered a waterfall formation on the chart, which is indicative of a Comex bank manipulation operation using paper gold futures. 

The Mining Stock Journal also noted that the paper gold open interest on the Comex is 64x the amount of registered gold and 8.5x the amount of total gold reportedly held in Comex vaults. This degree of disconnect between futures open interest and the inventory of the underlying physical commodity is unprecedented in any CME commodity contract in the history of the exchange.

This episode of Mining Stock Daily is brought to you by Pacific Empire Minerals. 

Pacific Empire Minerals Corp. is a junior exploration company focused on the discovery of gold-rich copper deposits in British Columbia, Canada. Pacific Empire trades on the TSX Venture Exchange under the symbol PEMC and on the OTCQB markets under the symbol PEMSF. The Company currently has a very tight share structure. Pacific Empires’ unique approach to the prospect generator business model incorporates the Company’s own reverse circulation drill to advance projects beyond that of typical prospect generators. More information on Pacific Empire can be found at pemcorp.ca.

And here’s what you need to know today out of the junior sector.

U.S. Gold have released their first drill results from the highly anticipated Keystone project located in Nevada’s Cortez Trend. The drilling program comprised of six reverse circulation holes and one core hole. Both comprised of over 13,000 feel testing drill targets within the Sophia, Tip Top, Sophia South and Nina Skarm target areas. Results included 67 meters of .19 g/t gold and 76 meters of .22 g/t gold. U.S. Gold trades on the NASDAQ with the symbol USAU. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2564-nasdaq/usau/69552-u-s-gold-corp-s-2019-drilling-encounters-newly-discovered-gold-system-with-76-2m-of-0-224-gpt-au-including-25-91m-of-0-408-gpt-au-at-the-keystone-project-cortez-trend-nevada.html

In Nevada’s Carlin Trend, Gold Standard Ventures reported a discovery of a new oxide zone at the LT target on its Railroad-Pinion Project. The company says drill results returned 12 meters of 1.58 g/t gold, including 3 meters of 5.16 g/t gold. The company says the drill sits within a sizeable area exhibiting high-grade surface gold in outcrop and is located 3 km north-northwest of their Pinion oxide gold reserve. Gold Standard trades on the NYSE and the Toronto Stock Exchange with the symbol GSV. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/774-tsx/gsv/69557-gold-standard-discovers-high-grade-oxide-gold-mineralization-at-the-lt-target.html

Endeavour Silver reported initial drill results form the El Curso Property which lies adjacent to the company’s Guanacevi mine in Durango, Mexico. The company says the drill results today define a Northwest extension of the Porvenir Cuatro orebody, which remains open along strike and to depth. Highlights from the first ten drill holes included 1,182 g/t silver and 3.07 g/t gold over 5 meters. The company says they plan to drill another ten drill holes before year’s end and then complete the initial resource estimate. Endeavour Silver trades on the NYSE with the symbol EXK and on the TSX with the symbol EDR. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1070-tsx/edr/69559-endeavour-silver-reports-initial-drill-results-for-the-el-curso-property-adjacent-to-the-guanacevi-mine-in-durango-mexico-including-1-182-gpt-silver-and-3-07-gpt-gold-over-5-1-m-true-width.html

Yesterday, Aurion Resources announced assay results from 9 drill holes at the Aamurusko Northwest prospect on its Risti Project in northern Finland. Results included 23.41 g/t gold over 11.1 meters and 6.84 g/t gold over 19 meters. The company says that 24 of the 27 drill holes at Aamurusko have intersected gold mineralization and 12 of the 24 have intersected 15 g/t gold or higher. Aurion trades on the TSX Venture with the symbol AU and on the OTC markets in the US with AIRRF. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2017-tsx-venture/au/69519-aurion-drills-multiple-high-grade-near-surface-intercepts-at-aamurusko-northwest-including-23-41-g-t-au-over-11-10-m.html

Novo Resources said this morning it has completed encouraging gold processing trials at the Steinert Global testing facility in Perth, Australia. The company said the sorting equipment demonstrated recovery of fine gold nuggets as small as .4 mm and is a potentially cost-effective dry and chemical free means of gold recovery. In the news release, Novo shared that typical operatinal cost of mechanical sorters is around $1 - $1.50 US per tonne of feed processed. Novo trades on the TSX Venture with NVO and on the OTC markets with NSRPF. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1226-tsx-venture/nvo/69573-novo-reports-significant-advancements-in-mechanical-sorting-technology.html

And that’s it for today on Mining Stock Daily. Please be sure to take a quick moment to subscribe to this podcast if you have not already. And while doing so, feel free to leave a review. I greatly appreciate your feedback. As we approach the end of the  year, I’ll be focusing on new ways to improve the show. So your feedback if very important to us. 

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