Great Bear Encounters More Gold Mineralization
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Tuesday, March 16th.
Monday seemed to be George Costanza's opposite day, as the price of gold dropped during the time period late Sunday night when data shows that India and Viet Nam were vigorously buying physical gold. But then gold shot back up just prior to and during the a.m. London fix, when the gold price is usually taken lower. Gold ended up settling about $10 higher on Monday from Friday's close while silver shot up 40 cents, or close to 3x as much as gold on a percentage basis. The mining stocks generically traded up 1.63% per the GDX ETF, though the large caps outperformed, as evidenced by the 2.1% move higher in the Amex Gold Bugs Index also known as the HUI. That said, select junior small-cap and micro-cap stocks jumped between 10-20% on positive news flow. The Mining Stock Journal commented that the signs are starting to pile up like dogs beneath a cat on a hot tin roof that last week marked a bottom for the precious metals sector correction that began in August. The large caps getting better bid than the mid-cap and small-cap cohorts is another such indicator that an early stage bull move may be starting.
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.
Great Bear Resources today reported results from its ongoing fully funded $45 million 2021 exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario. The company returned to the northwestern kilometer of the LP Fault zone after more than a year of drilling elsewhere along strike and completed seven new drill holes, four of which were located within a 200 meter long previously undrilled segment of the zone. The company encountered new high-grade gold mineralization in addition to the expected bulk tonnage intervals. Results included 25.12 g/t gold over 4.25 meters, which also included a .5 meter interval garding 197 g/t gold. The Company formerly referred to this area as the Bear-Rimini or Discovery zone, prior to determining the LP Fault comprises a multi-kilometre continuously mineralized gold zone. Great Bear trades on the TSX Venture with GBR and on the OTCQX with GTBAF. News Release
Mako Mining reported new drill results this morning from the San Albino gold project in Nicaragua. The objective of this drill program was to target the SW Zone at San Albino, where very limited mineral resources were estimated. Drilling in the area did return 62.04 g/t gold and 28.55 g/t silver over 2 meters and 29.4 g/t gold and 28 g/t silver over .7 meters. These results confirm the existence of near surface high-grade gold, which we expect to convert to mineral resources at San Albino as the drilling program advances. Mako trades on the TSX Venture with MKO and on the OTCQX with MAKOF. News Release
Adventus Mining and Salazar Resources, collectively, announced continued infill drilling results from the El Domo volcanogenic massive sulphide deposit located within the 21,537-hectare Curipamba project in central Ecuador. Results included 5.06% copper equivalent over 44.19 meters and 8.09% copper equivalent over 10.92 meters. Infill drilling for the ongoing feasibility study continues at El Domo with two diamond drill rigs having completed 42 infill definition drill holes totaling 4,725 metres from the planned 4,960 metres, and two drill holes in progress totaling a further 77 metres completed. The Partners anticipate that all infill, geomechanical, geotechnical, and hydrogeological drilling required to support the completion of the El Domo feasibility study and submittal of the environmental and social impact assessment will be completed by the end of March 2021. Adventus trades on the TSX Venture with ADZN. Salazar trades on the TSX Venture with SRL. News Release
Aya Gold and Silver provided their updated mineral resource estimate for its Zgounder Silver Mine in Morocco today. Measured and indicated mineral resources increased to 44.4 millin ounces of silver. Thats a 340% increase compared to FEbruary 2018. The deposit remains open along strike and at depth. A resource model will be further updated at year-end with subsequent drilling data provided at that time. Aya Gold and Silver trades on the TSX with AYA. News Release
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.
The information presented should not be considered investment advice. Mining stock daily and its affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein. Please do your own research or speak with a licensed financial representative before making any investment decisions.