More High-Grade Drill Results from Great Bear
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Tuesday August 4th.
On Monday gold rose once again from Friday's close. The yellow dog, also known as real money, has risen 11 of the last 12 trading days. Also once again, December gold was turned back from $2000 after knocking on its door early Monday morning. Silver also closed to the green side on Monday, slightly outperforming gold. The gold/silver ratio fell to 81.35. After trading below 80 last Monday and bouncing up to 85, the ratio has fallen the last two trading days. The mining shares per GDX, however, declined nearly 1% on Monday, though the Mining Stock Journal said that Canada's closure for holiday may have contributed to the weakness in the shares. The Mining Stock Journal is still looking for some kind of brief pullback in the sector which would technically set up the next move higher this fall. But it added that with the Fed making it apparent that it has set its printing press on auto-pilot, the precious metals sector could continue its trek higher largely uninterrupted except for aggressive bouts of official intervention.
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… Integra Resources.
Integra Resources trades on the TSX-V under ITR and the NYSE with ITRG. Integra Resource is advancing its past producing DeLamar 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 here’s what you need to know this morning…
Great Bear Resources reported drill results this morning from its $21 million exploration program at the Dixie Project in Red Lake district of Ontario. Two new drill sections were completed within a previously undrilled 140 metre long segment of the LP Fault. The company says these sections contained significant thicknesses of very shallow high-grade gold mineralization starting at the bedrock surface including 81.22 g/t gold over 10.50 metres. Other drill results reported this morning included 3.24 g/t gold over 21 meters and 3.73 g/t gold over 65 meters. The company says this drilling has lead to repeated intersections of high-grade gold mineralization and has led the company to prepare a new geological model which should be released when current data collection and modelling work is complete. Great Bear trades on the TSX Venture with GBR and on the OTC markets with GTBAF. News Release
Gold Standard Ventures announced plans for the 2020 Phase 1 development and exploration program on its 100%-owned/controlled Railroad-Pinion Project in Nevada’s Carlin Trend. The program includes an estimated 20,410 m of reverse-circulation (RC) and core drilling in 136 holes. Three drill rigs are currently active on site at Pinion. The Phase 1 2020 program objectives are to convert Pinion Phase 4 to Measured and Indicated confidence level, drill test additional near-surface targets at Dark Star with the goal of expanding the oxide resource, further advance the Feasibility Study for the South Railroad Project, file the south Railroad Plan of Operations; and begin step out exploration drilling at the LT oxide discovery. Gold Standard Ventures trades on the TSX and the NYSE Americans with GSV. News Release
Makara Mining announced it will be conducting a 2,000 meter reverse-circulation drill program on the Rude Creek Gold Project in the White Gold region of Yukon. The focus of the drilling will be to test the northwest trend identified by recent soil sampling. The northern end of this trend was initially drilled in 2019, returning 9.15m of 1.42 g/t gold and 20 g/t silver, however, the rest of the trend remains untested. Rude Creek is situated 12 kms southeast of the large tonnage Casino copper-gold deposit, owned by Western Copper and Gold. Makara trades on the CSE with MAKA and on the OTC markets with MAKAF. News Release
Marimaca Copper shared results from its Preliminary Economic Assessment for the company’s Marimaca Copper Project in northern Chile. The study shows a $524 million post-tax net present value assuming a flat long-term $3.15 copper price. At this price, the IRR is 33.5% with a payback of 2.6 years. The life of mine average all-in sustaining cash costs is $1.29 per pound of copper using conventional open pit mining with the highest grade feed materials available in the first five years of production. The company notes no mineral reserves have been estimated for the project. Marimaca trades on the TSX with MARI. News Release
Anaconda Mining released an open-pit mineral reserve for the Argyle Deposit at the company’s Point Rousse Project. The deposit includes Probable Mineral Reserve of 535,592 tonnes at an average diluted grade of 2.06 grams per tonne gold containing 35,477 ounces, using a base case gold price of $1,450. This can provide Anacaonda a pre-tax NPV at a 5% discount rate of $13.1 million and an internal rate of return of 262%. Anaconda Mining trades on the TSX with ANX. News Release
Kincora Copper announced a non-brokered private placement of units at $.10 per unit to raise up to $5 million. The Units will be comprised of one share and one warrant, each Warrant entitling the holder to acquire a further share at a price of $0.25 for a term of 2 years. At the conclusion of the raise and completion of the ongoing 6-hole program, Kincora will have over C$6 million in cash. Kincora trades on the TSX Venture with KCC. News Release
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I’m Trevor Hall. Have a wonderful day. Be well.
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