Integra Resource's New COO; Exploration Results from Fireweed, HighGold and Liberty
Financial and production numbers continue to trickle in this week as gold remains resilient in a trading range above the $1500 spot price. We have exploration details to share with you mainly out of the United States and the Yukon. Lets get to it. You are listening to Mining Stock Daily.
Welcome to Mining Stock Daily.
Today is Tuesday, November 5th.
This is Trevor Hall and I welcome you to today’s briefing.
On Monday the price of gold withstood another price attack in the paper gold market which started when the Comex floor trading commenced and took the gold price down $10 to $1507. Gold bounced back up $1514 before settling around $1512 when the Comex electronic trading session went dark for an hour. Similarly, silver withstood an attempt to push the price below $18 (December futures basis). The Mining Stock Journal said that India, based on the ex-duty spot price in various Indian trading centers, was importing gold kilo and dore bars voraciously, which for now is putting a floor under the price of gold.
Mining stocks, however, took a beating with the Amex Gold Bugs index down 2%. The Mining Stock Journal noted that Newmont reported its Q3 this morning and Barrick reports Wednesday. The newsletter said that it expects both companies to post earnings which exceed Street estimates, which should help support the mining stocks generally.
This episode of Mining Stock Dailly is brought to you by Integra Resources.
Integra Resource is advancing its past producing DeLamar (DeL - a - Marr ) Gold-Silver project in SW Idaho through aggressive drilling and exploration. The latest Resources Estimate released earlier this summer showed approximately 4 million Gold equivalent ounces in the measured and indicated category.The maiden PEA for the project established a net present value of C$473-million and an IRR of 43%. The management of Integra successfully sold its previous brownfields project for C$590 million in summer 2017. Read more about the company and its successful management team at integraresources.com.
And Integra was in the news this morning. They announced that Tim Arnold, who was brought on to the DeLamar Project as VP of Project Development has been appointed the company’s new Chief Operating Officer as the company moves towards pre-feasibility studies and permitting. Before coming on toIntegra, Tim was with Pershing Gold and the Relief Canyon project before it was acquired by Americas Gold and Silver. We actually interviewed Tim months back during my site visit to DeLamar. I would highly refer you to that interview as reference. Integra Resources also noted this morning that it has paid the final $4.5 million secured promissory note to Kinross. As a result, Integra now has no debt outstanding and own the DeLamar Project free and clear of encumbrances. Integra Resources trades on the TSX-V under ITR and the OTCQX under IRRZF. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2170-tsx-venture/itr/69241-integra-resources-announces-the-appointment-of-timothy-arnold-as-chief-operating-officer-and-repayment-of-the-kinross-c-4-5-million-promissory-note.html
There is more news to get this morning out of the junior mining sector.
Liberty Gold shared new drill results from its Carlin-style Black Pine Property in Idaho. The company says reverse circulation drilling continues to return thick, high-grade intervals of oxide gold mineralization and new results from the Discovery 2 and 3 Zones expand the footprint of mineralization, linking them together with a combined width of 400 meters and a strike length of approximately 300 meters. Todays results included 3.4 g/t gold over 62.5 meters. You can read the full list of results on this morning’s news release. Liberty Gold trades on the TSX with the symbol LGD on the OTC markets with LGDTF. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/733-tsx/lgd/69239-liberty-gold-continues-to-expand-thick-zone-of-high-grade-carlin-style-gold-mineralization-at-the-black-pine-project-idaho-usa-with-3-40-g-t-oxide-gold-over-62-5-metres-including-6-21-g-t-gold-over-21-3-metres.html
Fireweed Zinc shared new drilling results from the Boundary Zone located 15 kilometers west of the Jason Deposit on Macmillan Pass in the Yukon. The final 2019 drill hole at the Boundary Zone intersected 4.14% Zinc over a true width of 230 metres with a near surface higher grade section of 7.94% Zinc over a true width of 100 metres and high grade subintervals including 42.49% Zinc over 6.4 metres and local very high grade sections including more than 60% Zinc over 0.6 metres. The zone remains open to depth and along strike. Fireweed says Boundary Zone has potential to be mined in a low strip open pit and to be upgraded through low cost ore sorting technology for processing. Fireweed trades on the TSX Venture with FWZ and on the OTC markets with FWEDF. http://www.fireweedzinc.com/news-media/news/release/index.php?content_id=164
HighGold Mining reported assay results for the first two holes of a nine hole drill program completed at the Company’s Johnson Tract Gold property in Southcentral Alaska. The results included 107.8 meters grading 12.42 g/t gold, 8.9 g/t silver, .88% copper and 7.11% zinc for a 19.55 g/t gold equivalent. HighGold CEO Darwin Green said “On a gold equivalent basis, the grade by thickness product for this drill hole equals 2,107 gram-meters making it the industry’s best drill intersections reported this year.” HighGold did mention this hole was designed as a twin of a historic drill hole for validation purposes for future resource estimation. HighGold trades on the Venture Exchange with HIGH and on the OTC markets with HGGOF. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2726-tsx-venture/high/69244-highgold-mining-drills-19-55-g-t-gold-equivalent-over-107-8-meters-at-johnson-tract-alaska-usa.html
And that’s it for today on Mining Stock Daily. Please be sure to take a quick moment to subscribe to this podcast if you have not already. And while doing so, feel free to leave a review. I greatly appreciate your feedback. As we approach the end of the year, I’ll be focusing on new ways to improve the show. So your feedback if very important to us.
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