Integra Resources Intersects New Gold and Silver Mineralization at Florida Mountain
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Wednesday July 29th
In what can only be described as an intentional drive-by hit job, gold and silver as mentioned in yesterday's market update were slammed late in the evening Monday and again in the early Tuesday morning. The Mining Stock Journal said there's likely a connection between a research note published by JP Morgan on Monday that gold would run out of steam near $2,000 and the artificial price-slame as gold approached $2,000 late Monday. Gold and silver bounced with enthusiasm as gold approached $1900 and silver tested $23, with gold up $50 from its low silver trading back up and over $24 as this is being written. The mining stocks vasciallated from positive to negative during the trading day Tuesday, closing marginally to the downside from Monday. A curious article published by CBS Money Watch reported that it's a mystery as to why gold hit an all-time on Monday. The Mining Stock Journal said that the anti-gold propaganda piece was evidence that the political and financial establishment is getting concerned about the potential for a massive gold rush akin to the one that occurred in 1980 and the newsletter expects a steady stream of similar propaganda to flood the mainstream media outlets.
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.
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And here’s what you need to know this morning…
Integra Resources released the first results of its 7,000 meter exploration drill program at Florida Mountain, which the company says intersected significant high-grade gold and silver mineralization both within and outside the existing NI 43-101 resource boundary. Results included 2.3 g/t gold equivalent over 117.04 meters from hole 76, which had a subinterval of 72.37 g/t gold and 82 g/t silver over 1.52 meters. The same hole intersected another mineralized section of 34.4 g/t gold and 4,075.4 g/t silver over .88 meters. Hole 77 intersected 1.85 g/t gold equivalent over 113.69 meters which also included a 1.5 meter section including 72.07 g/t gold. These drill results provide evidence that structurally-controlled high-grade veins exist below the current resource and that further drill definition cold potentially be interpreted and modelled as high-grade mill feed in future economic studies. Drilling in the next several weeks will continue to focus on depth extensions of other plunging shoots that are known to exist on the gold-silver deposit, focusing more on the lower granite units where vein thicknesses are reported to be greater than within the overlying volcanics. Integra Resources trades on the TSX Venture with ITR and on the OTCQX with IRRZD for now, until it begins trading on the NYSE American this Friday. News Release
Galway Metals says hole 65 from the George Murphy Zone at the Clarence Stream Gold Project in New Brunswick contains abundant visible gold in a new massive quartz being that is more than 14 meters in core length. In fact, Galway says there are 29 specific visible gold splashes located on the core starting at a vertical depth of 171 meters below surface. The new vein appears to be associated with a strong magnetic low and with a line of coincident soil anomalies, both located close to the interpreted location of the main structure on the property - the Sawyer Brook Fault. We’ll report those assays once they become available. Galway trades on the TSX Venture with GWM and on the OTC markets with GAYMF. News Release
Roxgold shared new exploration drilling results from the Company’s Boussoura Project, located in southern Burkina Faso. Highlights from reverse circulation drilling included 2.5 g/t gold over 61 meters and 4.4 g/t gold over 20 meters at Fofora. CEO John Dorward says Boussoura is still in its infancy, but this latest round of drill results is building confidence that Boussoura has the potential to become Roxgold’s third project. There are currently two drills at Boussoura conducting target definition/testing within the Fofora corridor. An additional RC/DD rig is expected to be added in September to allow for additional scout drilling and to follow up on higher priority delineated targets. Roxgold trades on the TSX with ROXG and on the OTCQX with ROGFF. News Release
Fosterville South Exploration shared new drill results from the initial phase of core drilling at its Golden Mountain Project in Victoria, Australia. Highlights reported today included 7.25 g/t gold over 39.5 meters and 18.4 g/t gold over 5.8 meters. Drilling is ongoing with two diamond drill operating, targeting mineralization that is open along strike and at depth. Fosterville South trades on the TSX Venture with FSX and on the OTCQX with FSXLF. News Release
American Pacific Mining announced results from the 2019 drilling program conducted by Kennecott Exploration on the recently acquired Madison copper-gold project in Montana. The Madison Project is currently under an earn-in, joint venture agreement, whereby Kennecott Exploration Company, part of the Rio Tinto Group may spend $30 million USD to earn up to 70%. Those results included 1.16 g/t gold over 74 meters and 1.42 g/t gold and 2.41% copper over 2.54 meters. The 2019 drill program consisted of fourteen diamond drill holes totaling just over 4,000 meters. American Pacific Mining trades on the CSE with USGD and on the OTC with USGDF. News Release
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I’m Trevor Hall. Have a wonderful day. Be well.
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