Junior Miners Soar Alongside Rising Precious Metals

Welcome to Mining Stock Daily. This is your host, Trevor Hall

Today is Tuesday, May 18th. 

After trading up to $1856 early Monday morning with China actively buying physical gold, then selling off to $1844 where it settled this past Friday, gold shot up like a rocket at 9 a.m. to $1869, where it spent most of the rest of the day and into the afternoon settlement. The Mining Stock Journal said it is still looking for specific news or related market events that would explain the move. It might have been a delayed reaction to President Biden's tax credit proposal for families with children that qualify, which would mean $100's of billions more in deficit spending and money printing. While gold jumped 1.60%, silver soared 3.3% and the mining stocks roared, with GDX making a 4.9% move, with some silver stocks up 10-15%. The gold/silver dropped to 66 and appears to be headed lower. Gold also broke out above its 200 day moving average. The Mining Stock Journal said it would like to see this key moving average hold for at least a few days before declaring that a durable bull move higher is definitively underway.

We’ll get to the news out of the miners and explorers here in just a moment, but first a quick mention of today’s sponsor. 

This episode of Mining Stock Daily is brought to you by… Integra Resources.

Integra Resources is advancing the past-producing DeLamar Project in southwestern Idaho. The Company has continued to demonstrate resource growth and conversion through greenfield and brownfield exploration and plans on delivering a pre-feasibility study in Q4 2021 to further de-risk and advance the project towards permitting. Integra Resources trades on the TSX-V under ITR and the NYSE American under ITRG.

And here’s what you need to know this morning.

Corvus Gold has received additional drill holes results from the Mother Lode and Lynnda Strip oxide gold discoveries. At Lynnda Strip, Corvus drilled 180 meters of .79 g/t gold and 185.4 meters of .82 g/t gold. The currently defined vein systems that Corvus has identified at Lynnda Strip appear to be coalescing toward a large new structure target at depth, which is feeding the overall Lynnda Strip deposit. At Mother Lode, the company returned 26.7 meters of 2.57 g/t gold and 6 g/t silver and 14.5 meters of 6.48 g/t gold and 25.9 g/t silver. These holes expand the North Feeder Zone, which appears to thn out but increase in grade. Corvus believes that these results will be an important addition to a maiden mineral resource estimate for Lynnda Strip and an updated Mother Lode mineral resource estimate scheduled for later in the year. Corvus trades on the TSX and the Nasdaq with KOR. News Release

Newcore Gold shared additional drill results from the 66,000 metre drill program underway at the Company’s 100% owned Enchi Gold Project in Ghana. Drilling at the Kwakyekrom Gold Target has intersected 0.61 grams per tonne gold over 50.0 metres from 148 m, including 1.36 g/t Au over 9.0 m from 164 m, and 1.19 g/t Au over 20.0 m from 112 m, including 2.75 g/t Au over 5.0 m from 113 m. These results continue to expand the gold mineralization outside of the previously tested area, including down dip and along strike to the south by 500 metres. These results have now expanded the drill tested strike extent to 1.3 kilometres at Kwakyekrom, a target which is outlined on surface by a four-kilometre-long by one-to-two-kilometre-wide gold-in-soil anomaly. In addition to the drill results, the company noted positive metallurgical results from bottle roll tests completed on the Kwakyekrom Gold Target, with samples achieving an average gold recovery of 79.8%. Newcore trades on the TSX Venture with NCAU and on the OTCQX with NCAUF. News Release

Northern Vertex published new drill results frominfill and resource expansion drilling at the Moss Mine in Arizona. This morning’s results come from the Ruth and Moss veins immediately south and down dip of the Moss Mine Center pit. Results included 9.15 meters of 4.9 g/t gold and 57.18 g/t silver from the Moss Vein. At the Ruth Vein, results returned 4.6 meters of 4.01 g/t gold and 27.97 g/t silver. The distance between the Ruth and Moss veins is approximately 175 meters on surface, diminishing with depth as the two veins dip towards each other, intersecting at a depth of approximately 100 meters below the south wall of the Center pit. A full list of drill results can be found on this morning’s press release. Northern Vertex trades on the TSX Venture with NEE and on the OTC with NHVCF. News Release

Contact Gold released new drill results front he first 6 holes of the 2021 drill program at its Green Springs gold project in White Pine County, Nevada. The 2021 program started in late February, focused on the northern end of the 3 km long Mine Trend at Green Springs. Results include 1.45 g/t gold over 47.24 meters and .89 g/t gold over 12.19 meters. 47 drill holes have been completed in the 2021 program to date for a total of 5,856 metres. Drill results are expected to continue to be received throughout the summer from Green Springs. Contact Gold trades on the TSX Venture with C and on the OTCQB with CGOL. News Release

Marathon Gold reported results from the latest batch of exploration drill holes completed at the Valentine Gold Project, central Newfoundland. Highlights released this morning included 1.96 g/t gold over 101 meters and 5.19 g/t gold over 21 meters. Today’s assay results represent the last batch of drill holes completed prior to the company’s annual spring shutdown in late March. These are infill holes in the western and central areas of the Berry Deposit, and confirm again long intersections of resource grade mineralization. Marathon trades on the TSX with MOZ. News Release

Fury Gold Mines shared results from four drill holes into the Snake Lake structure one kilometer east of the known resource at the Eau Claire deposit located int he Eeyou Istchee territory of the James Bay region of Quebec. Results included 94.1 g/t gold over a half meter. Extending mineralization 840 meters down dip. Other results included 7.51 g/t gold over 2 meters, representing a 150 meter step-out from historical drill holes. Three of the four reported drill holes and a pending drill hole from the Snake Lake structure have observed coarse grained visible gold associated with veining and alteration. In addition, recent resource expansion drilling at the Eau Claire deposit has intersected visible gold. Given the consistent presence of visible gold in core drilled this year, Fury has made the decision to switch to a larger diameter drill core that will result in a 25% larger sample size. Fury Gold Mines trades on the TSX and the NYSE with FURY. News Release

Anaconda Mining announced initial results of an ongoing, previously announced 3,000 metre diamond drill program at its Point Rousse operation in Newfoundland, designed to test several priority targets within several kilometres of the Pine Cove Mill and in-pit tailings facility. These targets were identified following a re-evaluation of the near-mill opportunities following a reinterpretation of area geology in light of recent success at the Stog'er Tight Deposit. Highlights included 1.89 g/t gold over 7.8 meters and 1.42 g/t gold over 4 meters. A further 700 metres of anomalous gold-in-soil and rocks, mapped alteration, and coincident IP chargeability anomalies remaining to be tested. Anaconda trades on the TSX with ANX and on the OTCQX with ANXGF. News Release

That’s it for the news briefing this morning. We’ll be back later today with more news and interviews. 

The Mining Stock Daily morning briefing is produced by Clear Creek Digital and Investment Research Dynamic’s Mining Stock Journal. It is distributed throughout the world through your podcast network of choice, and by our friends at the Junior Mining Network. 

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