Great Bear Drills .5m of 400 g/t Gold; Minera Alamos Update
Welcome to Mining Stock Daily. This is your host, Trevor Hall.
Today is Monday June 21st.
Gold was monkey-hammered $134 last week from the previous Friday close to settle at $1764. Similarly, silver had $2.40 poached from its price. The Mining Stock Journal is quick to point out that 90% of the price decline action occurred after Asia closed for the day, leaving just the paper derivative unallocated gold sandboxes in London and NYC open for business. Other than paper manipulation shenanigans, the mining stock newsletter is at a loss to explain the irrational price action. It added that it would bet a roll of 1 oz gold eagles that the only physical gold and silver that was sold last week was the metal sold and physically delivered to Asia and Russia plus the gold and silver bullion products sold to retail buyers by coin dealers. The mining stocks were billy-clubbed to near-death last week. But now the momentum-indicators are extraordinarily oversold. The Mining Stock Journal said the RSI on GDX is below 30 and pointed out that every time in the last 12 months that the RSI hit 30, the mining stocks rallied.
We’ll get to the news out of the miners and explorers in a 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.
Great Bear Resources reported results from its ongoing $45 million 2021 exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario. The highlights this morning came from Hole BR-315, which was completed within a 100 metre previously undrilled gap in section 20625 and successfully intersected the three high-grade domains BR7, AURO20 and BR1 which were described in news releases on May 19 and June 3, 2021. It also intersected a fourth recently defined high-grade gold domain, BR4, southwest of the other high-grade domains, including 400 g/t gold over .5 meters. The company also found bulk tonnage style gold mineralization between the high-grade domains, including 42.23 g/t gold over 77.4 meters and 5.14 over 20.7 meters. 11 of the 13 drill holes in the release noted this morning tested the bulk-tonnage style "halo" adjacent to the high-grade domains along more than 2.5 kilometres of strike length. Drilling intersected gold mineralization from bedrock surface to 500 metres vertical depth. Great Bear trades on the TSX Venture with GBR and on the OTCQX with GTBAF. News Release
Maple Gold Mines shared results from four step-out drill holes at the 531 Zone from the recently completed 10,270-metre winter drill campaign at the Douay Gold Project in Quebec, Canada. The results indicate the potential for additional gold resources to be added beyond the current underground mineral resource. Drilling returned 4.3 g/t gold over 3 meters, 43 g/t gold over 1 meter and 21.7 g/t over 1 meter. The four step-out holes were drilled to test the east-southeast continuity of the mineralized system and specifically targeted structurally controlled, high-grade extensions at depth within the 531 Zone. These latest results now support the continuity of the system, providing justification for additional step-out drilling to be undertaken with the aim of expanding the current underground resource. Maple Gold Mines trades on the TSX Venture with MGM and on the OTCQB with MGMLF. News Release
Banyan Gold shared assay results from five diamond drill holes received from the 2021 exploration program at the AurMac Property, Yukon. These holes continue with the systematic testing of the Powerline deposit on 100 metre centered step-out drilling - and continue to validate the geological model and expand the limits of known near-surface gold mineralization. Results included .85 g/t gold over 12.2 meters and .7 g/t gold over 50.3 meters. Drilling is ongoing with two diamond drills now focused on the Aurex Hill Target. Banyan trades on the TSX Venture with BYN. News Release
Minera Alamos provided an update on the start-up of mining operations at the Santana gold mine, Sonora, Mexico. All construction has now been completed with the full leach pad now lined and available for stacking. First loading of mined material from the Nicho Norte pit commenced earlier this month in preparation for the commissioning of leach operations around the end of the June. Initial blasting activities at the Nicho Norte pit have demonstrated the ability to achieve a high level of fragmentation allowing for a majority of mined material to bypass further crushing and be sent directly to the leach pad for gold recovery. It is currently expected that additional crushing requirements will be limited to zones of higher-grade material only. This will be handled by the mining contractor using portable crushing equipment. Minera Alamos trades on the TSX Venture with MAI and on the OTC with MAIFF. News Release
GR Silver says it has initiated a 14,000 m exploration drill program targeting newly identified and untested silver-gold veins on its concessions within the Rosario Mining District, Sinaloa, Mexico. Seven drill rigs are being mobilized to undertake this program at new project sites on the Company's extensive Ag-Au vein systems that extend over structural trends covering a combined 75 km strike length of the Plomosas, San Marcial and La Trinidad Project Areas. GR Silver trades on the TSX Venture with GRSL and on the OTCQB with GRSLF. News Release
That’s it for the news briefing this morning. We’ll be back later today with more news and interviews.
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