Morning Briefing: Alamos Gold Received Important Permit Amendment Approvals in Mexico
Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Trevor Hall
It's Wednesday, January 29th.
Precious metals rebounded yesterday, as with the major market indices in the United States following Monday’s selling. Gold’s front month contract settled at $2,767 per ounce, up just over 1% on the day. Silver once again bounced off its 200 day moving average and added 1.5% to 30.88 per ounce. Focus will be on the first Federal Reserve meeting of the year, happening today while the market continues to speculate on President Trump’s tariff and economic policies. We’ll get the first glimpse of the dynamic between the new Administration and Fed Chairman Jerome Powell.
We’ll get to the news from the miners and explorers here in a moment, but first a quick word about today’s sponsor.
This episode of Mining Stock Daily is brought to you by…Arizona Sonoran Copper.
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And here’s what you need to know this morning…..
Midnight Sun Mining published results of the 2024 oxide copper drilling program, carried out on the Kazhiba Target on the Solwezi Project in Zambia. Results included 10.69% Cu over 21m, 5.6% Cu over 26m and 3% over 15m. This drill program was designed to validate and confirm the potential oxide copper resource at the Kazhiba Target and is the first major step under the previously announced Cooperative Exploration Plan with First Quantum Minerals. Mineralization appears to extend north-northeast and remains open. 13 additional RC holes are planned to test this extension, as an initial part of a broader follow up program, currently being designed and anticipated to start April 2025. (TSXV: MMA) (OTC Pink: MDNGF) News Release
Banyan Gold published results form 9 diamond drill holes collared within the Airstrip deposit on the AurMac Project in Yukon. Highlights included 36.2m of 1.14 g/t Au, 23.4m of 1.35 g/t Au and 46.4m of 1.31 g/t. These are the first dirll holes into Airstrip since 2021. (TSXV:BYN) (OTCQB:BYAGF) News Release
Awalé Resources reported results from the first two diamond drill holes completed as part of an expanded drill campaign targeting the BBM zone at the Odienné Project in Côte d'Ivoire. The drill program, which began in November 2024, is ongoing, with five holes remaining in the extended campaign. These initial holes were drilled within the previously reported central mineralized zone, where the Company is tightening drill spacing to a 100m grid. Results today were 34m of 2.5 g/t AuEq and 29m of 1.2 g/t AuEq. The company has increased the drill program at BBM from 3000m to 7000m. (TSXV: ARIC) News Release
Calibre Mining has published its maiden mineral resource estimate for the Talavera Gold Deposit located 3 km from the Limon mill in Nicaragua. The Mineral Resource, which will be included in the Company’s 2024 year-end Mineral Resource statement, includes 3,847,000 tonnes of Inferred Mineral Resource averaging 5.09 g/t gold, yielding 630,000 ounces of gold. The extension of the historical mine, and discovery of several parallel sub vertically dipping veins has led to the delineation of this new resource. This year, Calibre’s focus at Talavera will include expansion and delineation drilling while advancing environmental permits. (TSX: CXB; OTCQX: CXBMF) News Release
Alamos Gold has been granted approval of an amendment to its existing environmental impact assessment by Mexico’s Secretariat of Environment and Natural Resources, allowing for the start of construction on the Puerto Del Aire project located within the Mulatos District. construction activities on PDA are expected to begin ramping up toward the middle of 2025. Capital spending on PDA is expected to total $37 to $40 million in 2025 to advance underground development and procurement of mill long lead time items. The remainder of the total initial capital estimate of $165 million will be spent in 2026 and 2027 with first production anticipated mid-2027. (TSX:AGI; NYSE:AGI) News Release
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