High-Grade Oxidized Gold Drill Results from Chesser
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Tuesday, July 28th.
Gold continued its torrid price ascent to a new record high on Monday settling the day session at $1931. The yellow dog then spiked up to as high as $1974 early on in overnight Globex trading before a sudden $40 price smack took it back down to $1936 as this is being written. Silver jumped 7.2% to $24.50 and another $1.75 to $26.25 before falling back to $24.84. The gold/silver ratio plummeted below 80 to 78.81 and the mining shares per GDX lept another 4.8%. The Mining Stock Journal commented that, while it felt great to see the precious metals soar like it has since mid-June, the sector is getting a bit frothy and would benefit from a brief pullback to consolidate technically the recent move. The newsletter added that it is expecting some type of correction in the near term before pushing higher again this fall, as it becomes apparent that the Fed will continue to print a dizzying amount of money while the Government spends itself into fiscal oblivion.
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 is an advanced gold-silver exploration and development company focused on the North Bullfrog and Mother Lode Projects in Nevada. The company has been named a Top Five TSX gold equity performer Four of the last Seven years & a multi time top 50 OTCQX performer. Corvus Gold trades on the Toronto Stock Exchange with the symbol KOR and on the OTCQX with CORVF. Follow all the news form Corvus and its two-mine projects with fast-tracked potential via the company's website, corvusgold.com.
And here’s what you need to know this morning…
Nighthawk Gold shared their updated mineral resource estimate on the Indin Lake Gold Property in the Northwest Territories of Canada. It includes an updated resource estimate for the Colomac Gold Project, as well as an initial Mineral Resource Estimate on the Damoti Lake Gold Project. The estimate incorporates 924 drill holes totaling 177,598 metres that defines open pit and underground resources and outlines 25.89 million tonnes at an average grade of 2.01 grams per tonne gold for 1.67 million ounces of Indicated Resources and 5.71 Mt at an average grade of 2.03 gpt Au for 0.37 Moz of Inferred Resources. An Exploration Target for Colomac suggests anywhere from 18 Mt to 23 Mt at grades ranging from 1.80 gpt Au to 2.00 gpt Au for a total of between 1.0 Moz upwards to 1.5 Moz Au could be added to the current resource by continuing to drill the projected extensions of currently defined mineralized zones. Nighthawk trades on the TSX with NHK and on the OTCQX with MIMZF. News Release
Liberty Gold shared additional reverse circulation drill results from its Black Pine oxide gold property in Southern Idaho. The company says its third discovery zone, the D-3 Zone, continues to deliver thick intervals of oxide gold mineralization with 1.44 g/t gold over 96 meters reported today. Other results included 3.04 g/t gold over 19.8 meters at the D-1 Zone and 2.21 g/t gold over 22.9 meters at the F-zone. In the short term, the new F Zone drill intercept will be followed up with additional drilling while infill and step out drilling continue on D-3 and D-1. Liberty Gold trades on the TSX with the symbol LGD. News Release
Pure Gold Mining says underground exploration drilling has intersected high-grade gold mineralization from step-out drill holes drilled close to existing underground development. Drilling has extended gold mineralization out from current design stopes, has discovered new gold zones that will be integrated into mine planning, and has confirmed stopes scheduled for near term production. Results included 12.8 g/t gold over 10 meters and 9.3 g/t gold over 2.4 meters. Pure Gold trades on the TSX Venture with PGM. News Release
Palladium One shared their second batch of drilling result from the Phase 1 winter drilling program at the Läntinen Koillismaa project in Finland. Highlights reported today included 2.16 g/t palladium equivalent over 41.6 meters from hole 7 and 1.97 g/t palladium equivalent over 36.8 meters from hole 5. In regards to hole 7, the company says it has confirmed a previously unrecognized higher-grade shoot within the Kaukua Open Pit Deposit, this shoot remain open at depth and further drilling could significantly expand the current resource. Palladium One trades on the TSX Venture with PDM and on the OTC markets with NKORF. News Release
Chesser Resources provided new drilling results from its flagship Diamba Sud Gold Project in Senegal. The company says drilling intersected exceptionally thick, shallow, high-grade oxidized mineralization across a 200 meter wide zone in five adjacent holes. Those results included 6.7 g/t gold over 48 meters and 4.27 g/t gold over 55 meters. Mineralization remains open to the southwest, northeast and to the northwest. The company’s share price on the Australian Stock Exchange jumped more than 150% on the news during its trading session today. Chesser does trades on the ASX with the symbol CHZ. News Release
Integra Resources common shares are approved for listing on the NYSE American. The company’s shares will commence trading on that US market at the market open on July 31st with the symbol ITRG. The Company’s common shares on the OTCQX will continue to be traded until market close on July 30, after which these shares will begin trading under the ticker symbol ITRG on the NYSE American. Integra’s common shares listed on the TSX Venture will continue to trade under the ticker symbol ITR. News Release
EMX Royalty shared information on its equity interest in the Rawhide gold-silver mine in Nevada. RAH advised the Company that for the six months ending on June 30th, 2020 a total of 11,159 ounces of gold and 85,034 ounces of silver have been sold for total revenue of approximately US $17.7 million. This year's production has been sourced from the recently commissioned Regent open pit, which was permitted by RAH in early 2019 and put into production shortly thereafter. EMX holds an equity interest in the private Rawhide company. EMx trades on the NYSE and the TSX Venture with EMX. News Release
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I’m Trevor Hall. Have a wonderful day. Be well.
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