Friedland Discusses Changes Coming to Explorers and Miners
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Wednesday, April 14th.
After hitting an early Tuesday morning low of $1723, the gold price shot up $27 after the CPI report showed price inflation running hotter than expected. The Mining Stock Journal suggested that it seems pretty obvious gold and silver were smashed on Monday, ahead of a knowingly bad CPI report, in order to avoid scrutiny of a counter-intuitive price ambush after a highly negative inflation headline. Speaking of silver, poor man's gold soared 85 cents from its overnight low to the post CPI report high, pole-vaulting back over $25 and its 200 day moving average, eventually settling around $25.40. The broad mining stock indices outperformed the entire stock market Tuesday. The Mining Stock Journal said that, with both sentiment toward the precious metals sector highly negative and increasingly bullish charts, the sector is poised for a big move both technically and fundamentally.
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… 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 11 billion pounds of copper and 21 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, www.westerncopperandgold.com.
And here’s what you need to know this morning.
Contact Gold reported esults for the final 4 drill holes completed during the 2020 drill program at the Green Springs gold property, Nevada. Results are from the Alpha Zone; the northernmost zone of gold mineralization identified at Green Springs to date. Highlights did include 42.6 meters grading 1.4 g/t gold, and included a 23.77 meter interval grading 1.91 g/t gold. The Alpha Zone is located 1.5km northeast of the Mine Trend, and remains open for expansion in all directions and sits on the same northeast structure linking Bravo to Alpha and Tango. Drilling the first ever holes at the Tango Target is underway. Contact Gold trades on the TSX Venture with C andon the OTCQB with CGOL. News Release
Denison Mines says they have discovered a new high-grade unconformity-hosted uranium mineralization from the winter 2021 exploration program completed at the Company's McClean Lake Joint Venture. Three of the final four drill holes completed by Orano Canada, owner and operator of the MLJV, returned uranium mineralization at the McClean South target area, with the results highlighted by drill hole MCS-34, which returned 5.04% eU3O8 over 14.0 metres. McClean Lake is partially owned by Denison Mines. Just over three quarters of it is owned and operated by Orano Canada. Denison trades on the TSX with DML and on the NYSE with DNN. News Release
Galleon Gold was out with additional Zone #9 intercepts from its West Cache Gold Project in Ontario. Results included 8.28 g/t gold over 13 meters and 7.93 g/t gold over 2 meters. Assays and geologic data will provide additional support for the modeling and resource work now underway as part of the Company's upcoming Preliminary Economic Assessment. Galleon Gold trades on the TSX Venture with GGO. News Release
Vizsla Silver provided results from step out drilling at the southern extension of the Napoleon prospect. These holes extend the mineralization by over 300 metres to the south of the previously reported results to double the drilled strike length of the Napoleon prospect at the Panuco silver-gold project in Mexico. Results reported today included 4.46 meters of 2,758 g/t silver equivalent, including a .92 meter interval grading 12,262 g/t silver equivalent. Napoleon has been mapped for over two and half kilometres of strike and has four drill rigs turning on the vein. Vizsla trades on the TSX Venture with VZLA and on the OTCQB with VIZSF. News Release
GoGold Resources provided results of 6 diamond drill holes from the El Favor area on its Los Ricos North Project. The results were highlighted by 3.4 meters grading 1,676 g/t silver equivalent, which was contained within a 15.3 meter interval of 524 g/t silver equivalent. The company says three of the four major veins (Salomon, Guitarrillas and Los Chivos) appear to converge into a 100m wide zone at the western end of the El Favor deposit in the vicinity of the Hundido Pit at an elevation of 1300m. GoGold trades on the TSX with GGD and on the OTCQX with GLGDF. News Release
A household name in junior exploration provided a keynote address yesterday at the World Copper Conference. Here’s Kylie Williams for a rundown of that speech.
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Northern Vertex shared their financial results for its fiscal year ending in December. Results included revenue of $52.7 million and a positive working capital position of $10.9m. Gold production reached just over 11,000 ounces with an all in sustaining cost at the Moss mine of $1,088 per ounce. News Release
In other production and financial news, Calibre Mining says gold production for the first quarter reached 45,452 ounces, it's highest quarterly production since Q3 of 2016.
First Majestic reported silver production of 2.9 million ounces of silver and 23,873 ounces of gold for the first quarter.
And Fiore Gold improved their quarterly production numbers by 19%, to 10,915 ounces. The company says improved pH levels on the heap leach lead to the higher numbers.
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