Integra Resources Drill Results from War Eagle; Ascot Resources Financing for Premier
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Thursday, February 6th. And I’m happy to be back here today after a site visit to Corvus Gold’s Mother Lode and North Bullfrog projects. We’ll have more from Nevada tomorrow in an interview.
The price of gold was trading at $1557 - April futures basis - after a price smash took the price from $1600 late Sunday evening down to as low as $1552 by early Wednesday morning. The culprit was massive Comex futures liquidation triggered by the price management team to enable the big banks to cover a significant portion of their massive short position in Comex paper gold. The Mining Stock Journal said that the price takedown reinvigorated buy interest from India and this stopped the downward momentum early Wednesday morning. Silver is trading at $17.63 futures basis as this commentary is being written. The Mining Stock Journal noted that the large decline in open interest, accompanied by a meaningful liquidation of hedge fund long positions will set the market up for the next move higher, which could take gold over $1600.
On anther note, the Mining Stock Journal will be releasing its next bi-weekly issue this afternoon which will feature the presentation of a highly speculative junior exploration stock getting ready to drill a gold project adjacent to an existing high grade gold mine. If a discovery is made from the current drill program, the Mining Stock Journal believes the stock could double or triple in the near-term and move a lot higher from there longer term. You can find a subscription to the journal by visiting investmentresearchdynamics.com.
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 10 billion pounds of copper and 18 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 out of the junior sector.
Integra Resources shared additional results from the 2019 drill program at War Eagle Mountain, situated in the southeast corner of the DeLamar Project in Idaho. The company said With these latest results from War Eagle, the Company has identified an open-ended gold-silver mineralized zone that is at least 300 m in length, within which at least one or several moderately to steeply plunging high-grade “shoots” exist. These “shoots” are zones of higher-grade mineralization. rill holes released today tested for the extent of the mineralization and intersected gold and silver more than 150 m on either side of the previously reported high-grade shoot. Highlights included 5.99 AuEq over 3 meters and 3.07 AuEq over another 3 meters. In addition, Based on 2019 War Eagle drilling, soil geochemical sampling and historic data compilation, Integra has identified a 1,200 m long north-northwest trending zone of mineralization with several areas having the potential for additional high-grade shoots. In mid-2020, the Company will return to War Eagle for follow-up, close spaced drilling. Integra trades on the TSX Venture with ITR and on the OTCQX with IRRZF. News Release
Yesterday, Ascot Resources announced a non-brokered private placement offering of up to 7.8-million common shares and 5.1-million flow-through shares for an aggregate gross proceeds of $10-million. he net proceeds from the Offering will be primarily used to fund exploration activities, permitting, engineering and economic studies and for general corporate and working capital purposes for its Premier Gold Mine in British Columbia’s Golden Triangle. Ascot trades on the TSX with AOT and on the OTCQX with AOTVF. News Release
White Gold released drill results on multiple newly identified drill targets located across its White Gold property in Yukon. The company said Significant mineralization was encountered on the McKinnon East, Ulli’s Ridge and Minneapolis Creek targets all within a 5km radius of the Golden Saddle deposit to be followed up in 2020. Highlights included 1.34 g/t gold over 4.95 meters and 4.35 g/t gold over 3 meters at McKinnon East and 9.7 g/t gold over 1.5 meters at Ullii’s Ridge. White Gold trades on the TSX Venturewith WGO and on the Nasdaq International with WHGOF. News Release
Amex Exploration reported numerous drill holes on the Perron property in northwestern Quebec. Results included 2.19 g/t gold over 23.6 meters at Grey Cat and 19.63 g/t gold over 2.25 meters at Gratien. You can read the full list of results on this morning’s press release. Amex trades on the TSX Venture with AMX and on the OTCQX with AMXEF. News Release
Radisson Mining shares gold intercepts from the 20,000 m exploration drill program underway at its O’Brien gold project located along the Larder-Lake-Cadillac Break halfway between Rouyn-Noranda and Val-d’Or in Quebec. Results included 23.57 g/t gold over 2.6 meters and 13.67 g/t gold over 2.25 meters. The company says drilling at O’Brien continues to deliver excellent results that continue to demonstrate the continuity of high-grade mineralization within and outside the current resource area. Radisson trades on the Venture exchange with RDS and on the OTC with RMRDF. News Release
That is a wrap from us today here at Mining Stock Daily. Thanks again for tuning in. If you would like to be in touch with me and the show, please feel free to drop an email to trevor@clearcreekdigital.com. Also, if you have not done so already, please hit that subscribe button and also leave a review if you wouldn’t mind.
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Have a wonderful day. Be well.