Great Bear Expands 2021 Drilling; Aurelius Continues to Hit High-Grade

Welcome to Mining Stock Daily. This is your host, Trevor Hall

Today is Monday, March 1st. 

Gold and silver were pile-driven into the ground on Friday, with the majority of the move, especially with respect to gold, occurring after the Comex floor opened for trading. The manipulative effort is made easier when it is implemented after the physical buying marketsin the eastern hemisphere have closed down for the weekend. The Mining Stock Journal said that it's common practice for the most aggressive interventionary efforts to occur on Friday morning when most of the rest of the world is in bed or enjoying a late Friday night dinner. Silver continues to outperform gold as the gold/silver ratio has been trading in the mid-60's since mid-February and closed near the low of the day Friday after spiking off the lows of the day. The Mining Stock Journal attributes the stickiness of silver relative to gold to the flood of retail investors moving into physical silver bullion, which is now in very short supply at the nation's coin dealers. GDX was hammered for 3.7% and appears to be in free-fall. But the Mining Stock Journal said that it looks like the mining stocks have hit a short-term tradeable bottom. Whether or not Friday was capitulative bottom remains to be seen.

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… Rio2.

Rio2 is advancing the Fenix Gold Project in Chile, the largest undeveloped gold heap leach project in the Americas. Fenix consists of 5 million ounces in the measured and indicated resource category and 1.4 million ounces in the inferred resource category. With a robust PFS in place, Fenix is set up for fast-tracked construction and production. You can find a list of project and company information on their website, rio2.com.

And here’s what you need to know this morning.

Aurelius Minerals reported additional assay results for the fourth and fifth underground drill holes from its Aureus East Gold Project located in Nova Scotia, Canada. Holes 004 and 005 were drilled from the second underground drill pad and the new high grade gold zone is located 65 metres below the existing underground infrastructure. Hole 4 intersected 10.5 meters of 11.7 g/t gold, and included a 1 meter interval of 118.2 g/t gold. It also hit 16.5 meters of 5.8 g/t gold and included a .5 meter interval of 127.5 g/t gold. Hole 5 intersected 9.6 meters of 14 g/t gold and included a .7 meter interval of 182.4 g/t gold. Four additional holes have intersected this zone and assays are pending. The Company added an additional surface drill in late January and has completed a total of 13 holes from surface and underground, with two in progress. Aurelius trades on the TSX Venture with AUL. News Release

Great Bear Resources today announced the expansion of its 2021 exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario. With the closing of the recent financing, Great Bear has increased its planned exploration budget from $25 million to $45 million which will lead the company to drill approximately 400,000 meters by year end.  The primary program objective is maiden resource delineation at the LP Fault, Dixie Limb and Hinge zones from 0 to 400 metres depth. Additional drilling will also include testing zone extensions to depths greater than 750 metres  from surface, as has recently been accomplished at the Dixie Limb and Hinge zones. Great Bear trades on the TSX Venture with GBR and on the OTCQX with GTBAF. News Release

Osisko Mining provided new results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt. Intercepts included 2.5 meters of 342 g/t gold , 4 meters of 56.4 g/t gold and 2.4 meters of 79.8 g/t gold. Infill drilling is currently focused on the Lynx deposit. Osisko Mining trades on the TSX with OSK. News Release

Revival Gold announced results of a new appraisal of drill results and the recognition of a high-grade core of gold mineralization that is being evaluated for its underground potential at the past-producing Beartrack-Arnett Gold Project located in Idaho. Based on wide-spaced drilling, there appears to be a core of consistent high-grade sulphide gold mineralization that extends over one kilometer from the south end of the South Pit area through to the south end of the Joss area. he high-grade mineralization is situated within the near-vertical Panther Creek Shear Zone. Intersections run from 4 - 9 g/t gold and are estimated to range between 1 - 5 meters in true width. You can see a full rundown of the results on this morning’s news release. Revival Gold trades on the TSX Venture with RVG and on the OTCQB with RVLGF. News Release

You may have heard about some regulatory changes when it comes to press releases in the exploration sector. For more about these changes, here’s new Mining Stock Daily contributor, Kylie Williams ….

Bluestone Resources shared the results of a preliminary economic assessment which highlights an optimized project which doubles the gold resource ounces and production profile which effectively triples the NPV5% of the project to $907 million. The study used a base case of $1,500/oz gold and $20/oz silver. The study shows Peak production of 334,000 ounces and average annual production of 231,000 ounces gold over the 11-year life of mine. At $1,800/oz gold, the NPV5% increases to $1.3 billion and the IRR to 36% with a payback of 2.2 years. Bluestone Resources trades on the TSX Venture with BSR. News Release

And Nighthawk Gold published their updated mineral resource estimate for the Indin Lake Gold Property in Northwest Territories of Canada. Indicated resources now sit at 38.7 Mt at 1.81 g/t gold over 2.25 million ounces. Thats a 35% increase from last years estimate. Inferred resources now sit at 11.5 Mt at 2.13 g/t gold for .79 million ounces. Thats a 60% increase from last year’s report. Nighthawk trades on the TSX with  NHK and on the OTCQX with MIMZF. 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.