Fireweed Zinc Reports New Drill Results from Boundary Zone
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Wednesday, February 3rd
Gold and silver took an old fashioned bullion bank price beating, with most of the price decline occurring after the a.m. London price fix at 5 a.m. NY time. The Mining Stock Journal said that the price management teams on the Comex and LBMA wanted to make sure that retail investors new to the precious metals sector understood who controls the market - and it's not retail investors on Reddit chat boards. That said, while gold was slammed back below its 200 day moving average, the chart is still quite bullish. Similarly, silver remained well above its 50 day moving average. The mining stocks per GDX were hit hard, but still remain in an uptrend since the late December low. While the Mining Stock Journal applauds the effort to go after the precious metals manipulators, but it believes that ultimately the effort will fail unless investors buy Comex silver contracts, stand for delivery and then remove the delivered bars from the Comex vaults. But regardless, the precious metals and mining stocks are cheap on their own fundamental merits.
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… Corvus Gold.
Corvus Gold Inc. is a North American gold exploration and development company, focused on its near-term gold-silver mining projects in southwestern Nevada. The Company holds a commanding land position within the Bullfrog Mining District. Neighbouring, adjacent projects controlled by AngloGold Ashanti, Kinross Gold and Coeur Mining highlight this active District. The two 100% owned North Bullfrog & Mother Lode projects have a combined nearly 4M oz gold of in-pit resource and continues to grow with an on-going, successful, resource expansion drill program.
And here’s what you need to know this morning.
Fireweed Zinc shared further results from the 2020 drilling at Boundary Zone, Macmillan Pass Project in Yukon, Canada. These are the first results from Boundary Zone West, discovered in 2020 with a 360 metre step out hole, and located 15 road kilometres west of the Tom-Jason deposits. Results included 76.5 meters grading 4.33% zinc, .34% lead and 25.6 g/t silver. Only the upper sequence of mineralization was intersected in this hole – the lower sequence was not tested. Assays from other holes at the new discovery at Boundary Zone West are pending, including assays from hole NB20-009 that also intersected the lower sequence. Fireweed Zinc trades on the TSX Venture with FWZ. News Release
Genesis Metals reported assay results from the final 5 holes drilled as part of its recently completed 2020 Phase II diamond drilling program. The Chevrier Gold Project is located in the eastern Abitibi Greenstone Belt of Central Quebec and all holes reported this morning were from the Mole zone. Results included 40.89 g/t gold over 3.4 meters within a wider 15.1 meter interval grading 10.03 g/t gold. Another notable results was 114 g/t gold over 1 meter. The objective of the Phase II program was to continue drill testing the extensions and down plunge continuity of newly recognized high-grade gold shoots within and near the Chevrier Main deposit area, and to delineate their boundaries and mineralized volumes within and below the pit shell from the 2019 mineral resource estimate. Genesis Metals trades on the TSX Venture with GIS. News Release
Lion One Metals announced recent shallow and deep drill results from two diamond drill holes, both still in progress, at its 100% controlled Tuvatu alkaline gold project, Fiji. The company says the southeast oriented diamond drill hole still in progress has encountered 12.45 meters grading 21.31 g/t gold, including .35 meters of 544 g/t gold in a show intercept. A north-oriented diamond drill hole encountered .3 meters grading 114.1 g/t gold. Two underground drill rigs purchased by the Company are now expected to arrive in Fiji around February 7. These drill rigs will allow Lion One to accelerate drill testing of the deep high-grade discovery and allow continuous drilling through the wet season. Lion One trades on the TSX Venture with LIO and on the OTCQX with LOMLF. News Release
Benchmark Metals says drilling at the souther portion of the Cliff Creek deposit area has intersected 64 meters of 2.29 g/t gold and 191 g/t silver at depth. Benchmark's flagship Lawyers Gold-Silver Project is located, via road-access, within the Golden Horseshoe area of north-central British Columbia, Canada. Drilling has expanded gold-silver mineralization to over a 1.2 km strike length and at least 550 m vertical depth. Benchmark trades on the TSX Venture with BNCH and on the OTCQX with BNCHF. News Release
Fabled Silver Gold Corp shared results from the second diamond drill hole on its Santa Maria Property in Parral, Mexico. The assay returned 3.3 meters of 561.2 g/t silver and .9 g/t gold within a wider 6 meter interval grading 323.88 g/t silver and .54 g/t gold. Assays from two additional holes are still pending. Fabled trades on the TSX Venture with FCO. News Release
EMX Royalty announced they have executed an option agreement for the Flåt, Bamble and Brattåssen nickel-copper-PGE-cobalt projects in Norway, and for the Mjövattnet and Njuggträskliden nickel-copper-PGE-cobalt projects in Sweden with Martin Laboratories EMG Limited, a private UK based company. MLE was created with the specific intention of advancing this portfolio of "battery metal" projects in Scandinavia and will be initially backed by private sector investment. The Agreement provides EMX with an equity interest in MLE, a 2.5% net smelter return royalty on each project, and other considerations including advanced annual royalties and milestone payments. MLE may also issue up to 9.9% of its issued and outstanding share capital to EMX as certain conditions are satisfied. EMX trades on the TSX Venture and the NYSE American with EMX. News Release
Pan American Silver announced Ross Beaty, Founder and Chair of the Board of Directors, has informed the Board that he will retire as Chair and Director at the Company's Annual General Meeting on May 12, 2021. The Board intends to appoint Ms. Gillian Winckler as Chair of the Board, and to name Mr. Beaty as Chair Emeritus. Mr. Beaty founded Pan American Silver in 1994 and has served as Chair since then; he also was CEO of the Company from its inception until 2004. During the last 27 years, the Company has grown from a start-up to the world's second largest primary silver producer with the world's largest silver reserves and resources.
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I’m Trevor Hall. Have a wonderful day. Be well.
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