Minera Alamos Resource Estimate for Cerro de Oro
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Monday, November 16th.
On Friday gold rose $13 while silver jumped 47 cents, or nearly 2%, and the mining stocks per GDX were up 1.4%. While December gold is still below its 50 day moving average, silver closed right on its 50 day moving average at $24.77. The gold/silver ratio dropped nearly a point to 76.13 and appears poised to head lower and close the break-away gap at 72.5 from September 21st. The Mining Stock Journal said that, based on the ex-duty import premium data from India, the Indians were importing a massive amount of kilo and dore bars all last week. The newsletter expects this Indian import activity to continue this week. In addition the Hulbert Gold Newsletter Sentiment Index went negative at the end of last week. This sentiment index tends to be an extremely reliable contrarian indicator which means a negative reading is potentially a bullish signal that the precious metals sector may be poised for a big move higher.
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… 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 11 billion pounds of copper and 21 million ounces of gold in an overall resource. Western Copper and Gold trades on the TSX and the NYSE American with WRN. Be sure to follow the company via their website, www.westerncopperandgold.com.
And here’s what you need to know this morning.
Minera Alamos announced results of the mineral resource at the Cerro de Oro project in Zacatecas, Mexico this morning. The report shows an inferred mineral resource estimate containing 630,000 ounces of oxide gold mineralization. The resource estimate was prepared using an economic pit shell at a gold price of $1450 per ounce resulting in a total enclosed pit volume containing 59 million tonnes. A limited number of diamond drill holes have demonstrated the potential for sulphide mineralization to extend to depth below the current estimate area. The Company has identified a number of high priority target areas for future drill programs aimed at expanding the known mineralized areas. Minera Alamos trades on the TSX Venture with MAI and on the OTC with MAIFF. News Release
Contact Gold reported the results of 3 drill holes from the ongoing 2020 drill program at the Green Springs gold property. Results from the Echo Zone included 2.18 g/t gold over 28.9 meters, including a 15 meter interval of 3.7 g/t gold. Other results included .44 g/t gold over 28.9 meters. The company noted that they now expect a steady flow of assay results from Green Springs through the end of the year and into Q1 of 2021. Contact Gold trades on the TSX Venture with C and on the OTCQB with CGOL. News Release
SilverCrest Metals announced drill results for its newest discovery, the Babi vista Splay Vein at its Las Chispas Property in Sonora, Mexico. Results shared included the company’s new record intercept of 61,105 g/t silver equivalent over 2.4 meters. This discovery is near the Company's ongoing underground work and is readily accessible for potential early mining. These results will be included as Inferred Resources for the upcoming resource estimation in the ongoing feasibility study. SilverCrest trades on the TSX with SIL and on the NYSE American with SILV. News Release
Banyan Gold shared results form the first five diamond drillholes received from the 2020 exploration program at the Powerline Zone, AurMac Property, Yukon. Results included .72 g/t gold over 128.5 meters and .8 g/t gold over 29.8 meters. These holes demonstrate the Powerline Mineralization Model applies beyond the 2020 Powerline Resource extent and importantly, the expansion potential of Powerline in all directions and at depth. Banyan Gold trades on the TSX Venture with BYN. News Release
Victoria Gold provided results from the final set of drill holes at its Raven target. Results included 3.95 g/t goldover 19 meters and 4.48 g/t gold over 13.7 meters. The 2020 Raven exploration campaign increased the mineralized strike length of the Raven target by more than 750 meters, tripling the previously known strike length. Victoria Gold trades on the TSX with VGCX. News Release
Outcrop Gold announced assay results from drilling on its 100% owned Santa Ana project in north Tolima, Colombia. Highlights included 785 g/t silver equivalent over 3.52 meters and 1,408 g/t silver equivalent over 1.53 meters. These are the deepest drill holes to date on Roberto Tovar and show mineralization extends at least to 300 metres down-dip. Drilling continues at these targets 1.5 kilometers apart in different sub-parallel vein systems. Outcrop trades on the TSX Venture with OCG and on the OTCPK with MRDDF. News Release
K2 Gold says they have completed the Phase 1 drill program at the Mojave project in Inyo County, California. The program consisted of 17 RC drill holes for a total of just over 2,500 meters. It was the first drill program on the property since BHP drill in 1997. Initial assay results are expected within the next month and it will lay the groundwork for a larger exploration drill program. K2 trades on the TSX Venture with KTO and on the OTCQB with KTGDF. News Release
Brixton Metals says they found high-grade gold, silver and copper content in 17 in place outcrop rock samples collected at and west of the recently acquired Trapper Target on its vast 2,594 square kilometer Thorn Cu-Au-Ag Project. Five rocks amples returned more than 20 g/t gold, including one which returned 31.9 g/t gold, 1490 g/t silver, 5.6 % lead, 3.7% zinc and .1% copper. Three samples returned greater than 1% copper,including one which was higher than 5% copper. Brixton trades on the TSX Venture with BBB and on the OTCQB with BBBXF. News Release
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I’m Trevor Hall. Have a wonderful day. Be well.
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