Inflation Day News from the Junior Miners
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Tuesday, April 13th.
After an early morning rally on Monday that took gold up $1745, the bullion banks went to work when the Comex floor opened the pushed gold into a waterfall chart formation, taking the gold price as low a $1730 through the Comex close. Silver was slammed even harder, as the price was given a 55 cent haircut during the Comex floor hours and, for now pushed silver back down below $25 to $24.76, where it was trading early Monday evening. The gold/silver ratio has moved back to test 70. The mining stocks were hit hard as well, with GDX down 2.2%, closing on a support level just below 34. Though investor sentiment is quite negative, the Mining Stock Journal noted that the charts for gold, silver and the miners look more positive than they did in early February, when gold began its journey below $1800. Furthermore, the fundamentals that drive the precious metals sector continue get stronger by the day.
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 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.
Newcore Gold shared new assay results from the 58,000 metre drill program underway at the Company’s 100% owned Enchi Gold Project in Ghana. Drilling at the Boin Gold Deposit has intersected 0.85 grams per tonne gold over 67.0 metres from 137 m depth, including 2.95 g/t Au over 9.0 m from 137 m, and 1.14 g/t Au over 36.0 m, including 1.72 g/t Au over 18.0 m from 124 m. These results continue to expand the gold mineralization outside of the current National Instrument 43-101 resource, extending the mineralization down dip and by 400 metres along strike to the north. In total, 16 RC holes were reported this morning, all targeting the northern half of the Boin Gold Deposit. Results extended the drill tested mineralization along strike to the north and to depth in the north and central portion of the deposit. Newcore trades on the TSX Venture with NCAU and on the OTCQX with NCAUF. News Release
HighGold announced the final assay results for nine holes at the company’s Johnson Tract gold project in Southcentral Alaska. Results reported today include intersections from expansion drilling at the JT Deposit and the Northeast Offset Target. Results reported today included 56.1 meters grading 1.9 g/t gold equivalent, 7.9 meters of 4.2 g/t gold equivalent, and .5 meters of 9.6 g/t gold equivalent. Focus for the 2021 Drill Program, in the main JT Deposit area, will include systematic step-outs along strike and down-plunge from the current modeled resource testing the 600-meter long Gap Target, the sparsely-drilled northeast-trending ‘prospective corridor’ between the JT Deposit and the original NEO target. HighGold trades on the TSX Venture with HIGH and on the OTCQX with HGGOF. News Release
Talon Metals provided an update on the Tamarack Nickel-Copper-Cobalt Project, located in Minnesota, USA. New drilling has returned 138.18 meters grading 1.66% nickel, 1.02% copper for a 2.26% nickel equivalent. Within that, 39 meters returned 3.94% nickel equivalent. This drill hole was a 25 meter step out into an undrilled area in the northern portion of the Tamarack Nickel Project's current resource area. The company says this hole returned higher than expected grades and they were not expecting to hit mineralization in the lower portion of the sem-massive sulphide unit starting at about 400 meters. Talon trades on the TSX with TLO. News Release
Osisko Mining provided new drill results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec. Infill drilling did return 2.2 meters of 877 g/t gold. Expansion drilling has was highlighted by a 2 meter interval grading 85 g/t gold. A complete list of results can be found on this morning’s news release. Osisko Mining trades on the TSX with OSK. News Release
Its no secret about the supply and demand fundamentals behind Dr. Copper currently taking place and its projections of future demand. Mining Stock Daily’s Kylie Williams is joining one of the biggest copper conferences held each year. For a glimpse into those discussions taking place, we now turn to Kylie for her report from Day 1.
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Kore Mining says they have discovered gold in several dry stream beds between the Imperial and Picacho deposits in California. In addition, there were also more outcrops discovered with anomalous gold rock chip samples. The company says this is further evidence that the 28-kilometer district from Mesquite-Imperial-Picacho District could host multiple gold discoveries similar in scale to Mesquite and Imperial. The company has also staked additional land, bringing their total position to 31,000 acres in the district. Kore Mining trades on the TSX Venture with KORE and on the OTCQX with KOREF. News Release
And Prosper Gold announced they have received all exploration permits required for the 2021 Phase 1 10,000 metre diamond drilling program at the Golden Sidewalk Project near Red Lake, Ontario. The Company has selected Boart Longyear, the world's leading provider of drilling services, drilling equipment and performance tooling for mining and drilling companies, as the drill contractor for the Project. Prosper Gold trades on the TSX Venture with PGX. News Release
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I’m Trevor Hall. Have a wonderful day. Be well.
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