Liberty Gold Discovers New Zone at Black Pine
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Tuesday June 23rd.
Gold and silver shot up on Monday morning after Trump's economic advisor, Larry Kudlow, announced that the Administration was considering another fiscal stimulus bill. August paper gold traded as high as $1780 before the price management team was able to put a price cap in place. Speaking of which, the Comex paper gold open interest jumped over 23,000 contracts on Friday, with most of the increase in the August front-month contract - indicating an influx of demand from investors that was met with an equal amount of new paper contracts printed up and sold to the buyers. The Mining Stock Journal noted that it's quite possible that investors are now lining up to take delivery in August, as apparently the Comex is flush with physical gold and savvy investors are looking to take delivery of physical gold and silver in an effort to hedge against the extraordinary fiat currency devaluation occurring globally but especially the daily dollar devaluation occurring in the U.S. The mining stock newsletter also noted that, based on reported data from India, it appears the sleeping gold importing giant is waking from a long hibernation and could have a significant impact on the price of gold through the end of the year.
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 is an advanced gold-silver exploration and development company focused on the North Bullfrog and Mother Lode Projects in Nevada. The company has been named a Top Five TSX gold equity performer Four of the last Seven years & a multi time top 50 OTCQX performer. Corvus Gold trades on the Toronto Stock Exchange with the symbol KOR and on the OTCQX with CORVF. Follow all the news form Corvus and its two-mine projects with fast-tracked potential via the company's website, corvusgold.com.
And here’s what you need to know this morning …
Liberty Gold announced the first drill results from the 2020 drill program at its Carlin-style Black Pine property in southern Idaho, USA. The company says a third high grade oxide gold discovery (D-3 Zone) has been discovered in close proximity to the D-1 and D-2 zone discoveries made in 2019. The D-3 zone lies beneath the limit of shallow historical drilling in a stratigraphic unit that is modeled to underlie at least the southern two thirds of the Black Pine gold system. Results released today from D-3 include 1.98 g/t gold over 33.5 meters. The same drill hole was lost in 2.39 g/t gold over 7.6 meters. wo drills are currently focused on and will not wander away from D-3, with a third drill exploring new targets. Liberty Gold trades on the TSX with LGD and on the OTC markets with LGDTF. News Release
Ero Copper shared their second quarter exploration update on the Vale do Curaca Property located in the Bahia State of Brazil and its NX Gold Mine located in Mato Grosso State of Brazil. Drilling during the period continued to focus on priority target areas within the Pilar and Vermelhos Mines, the broader Curaçá Valley, as well as extensions of the Santo Antonio Vein at the NX Gold Mine, all according to the drill program for the second quarter of 2020, which continues to progress according to budget despite the COVID-19 pandemic. Drillresults included 96.4 meters grading 3.97% copper and 29.9 meters grading 5.9% copper. mineralized intercepts within the Deepening Extension continue to demonstrate continuity over approximately 800 meters in strike length and to depth over 500 meters below the current level of the primary ramp. The zone remains open to the north and to depth. You can read a full list of results from this morning’s new release found on the newsroom of the Junior Mining Network. Ero Copper trades on the TSX with ERO and on the OTC with ERRPF. News Release
Nexus Gold provided an exploration update front heir Dakouli II Gold Concession in Burkina Faso. Company geologists have been reviewing the Dakouli concession for potential drill set ups, and during recent site visits noted an increase in artisanal mining activity along strike at the main mineralized zone. The crew collected three rock samples from new areas being exploited by artisanal miners. A result of 10.8 grams-per-tonne gold was returned from sample DK-27. This sample consisted of crushed mined material which had undergone preliminary gold extraction by panning. The remaining two samples were taken from workings proximal to the location of the orpailleurs extraction operations and returned 0.02 g/t au and 1.6 g/t Au respectively. The Company is encouraged by the increased strike activity which now extends the limits of the eastern zone some 200 meters to the east, thus expanding the zone of mineralization to over 400 meters along an east-west trend while also measuring over 200 meters in a north-south direction. Nexus trades on the TSX Venture with NXS and on the OTC with NXXGF. News Release
Great Thunder has acquired 76 additional claims covering 4,200 hectares to expand its 100%-owned Southern Star Property located in the Fenelon Gold camp in Quebec. The Southern Star Property is located 6.5 kilometres south of the Fenelon/Tabasco deposit held by Wallbridge Mining Company ("Wallbridge"). This latest acquisition expands the Southern Star Property by more than 50% to approximately 123 square kilometres and now brings Great Thunder's holdings to more than 148 square kilometres in the prolific Fenelon Gold district. The company trades on the CSE with GTG and on the OTC with MLBVF. News Release
Yesterday, Osino Resources announced it agreed to a bought deal financing totaling $15.4 million Canadian dollars. The deal consists of 14 million units of the company at a price of $1.1 per Unit. Each Unit will consist of one common share (a "Common Share") and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant") of the Company. Each Warrant will be exercisable to acquire one common share of the Company for a period of 12 months following the closing date of the Offering at an exercise price of C$1.50 per common share, subject to adjustment in certain events. The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 2,100,000 Units at the Offering Price. Osino trades on the TSX Venture with OSI and on the OTC markets with OSIIF. News Release
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