Minera Alamos Receives Environmental Permit for Santana
Minera Alamos receives a key permit for its Santana gold project in Mexico. This news and more right here today, on Mining Stock Daily.
And good day everybody welcome to Mining Stock Daily. This is Trevor Hall and today is Thursday August 8th. The price of gold continued higher on Wednesday as the Chinese let their currency fall a bit more versus the dollar in what appears to be an elevated level to the trade war between the U.S. and China. The Mining Stock Journal believes that the supply demand price function and the physical gold market has offset and prevented price containment operations in the paper derivative gold market on the Comex. In short, the tail is for now, unable to wag the dog. Silver outperformed gold on Wednesday by a ratio of 2 to 1. The Mining Stock Journal noted that the behavior of silver versus gold is indicative of a groundswell of retail money moving into physical silver bullion coins and silver mining stocks.
Today's briefing is sponsored 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 NYSE American with WRN. Be sure to follow the company via their website at westerncopperandgold.com. And also be sure to tune in tomorrow's show as we discuss Western's latest acquisition of the Canadian Creek Property with CEO Paul West-Sells. And we also chat about the latest developments of Casino Project with the project's head geologists. That's tomorrow here on Mining Stock Daily. Here's what you need to know today out of the Junior Resource Sector.
Minera Alamos announced this morning it has received the Environmental Impact Statement permit approval from the Mexican Federal Agency of Natural Resources for the development of the company's Santana gold project in Sonora Mexico. Together with the previously announced change of land use notification, the receipt of the authorized Minera documentation provides the company with the key approvals necessary for the construction of a commercial scale mine and gold heap leach processing facility at the Santana project's site. The Santana applications were structured to provide the company with flexibility to further optimize the development approach for the project and the ability to expand the project operations organically once resources are increased. Minera Alamos trades on the TSX Venture Exchange with the symbol MAI and on the US OTC markets with MAIFF.
Integra Resources announced that it has increased the size of its previously announced non-brokered offering to approximately $12 million Canadian. The net proceeds from the offering will be used to fund exploration including an additional 15,000 to 20,000m of drilling as well as engineering expenditures and general corporate purposes. The Mining Stock Journal spoke to a company official who said that Integra's largest European investors urged the company to raise the money to fund an accelerated resource and infill drill program on the DeLamar and Florida Mountain Deposits. Integra shares traded under IRRZF in the U.S. and ITR on the TSX Venture Exchange.
This morning Marathon Gold shared assays of the final drill holes of their 2019 infill drilling campaign at the Leprechaun Deposit. The program consisted of 69 drill holes and approximately 20,500m. Highlights reported today included 5.72 g/t gold over 16m and 4 g/t gold over 26m. The company noted they are awaiting the remaining 1300 metallic screen analyses before commencing on the updated mineral resource estimate, which is expected to be completed in Q4 of this year. Three drill rigs are currently operating at the Marathon Deposit now. Marathon Gold trades on the Toronto Stock Exchange with MOZ and on the USO OTC markets with MGDPF.
White Gold provided an update from diamond drilling on its Vertigo discovery which sits on the Golden Saddle deposit. The company says all Vertigo diamond drill holes to date intersected gold mineralization and have identified a minimum of six high grade mineralized structures. These structures display strong continuity from surface to over 250m down-dip and remains open in all directions. Highlights from today include the 3.59 g/t gold over 68m. White Gold trades on the TSX Venture with WGO the OTC markets in the U.S. with WHGOF.
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