Morning Briefing: Aldabaran Drills 1,167.5m of .48% CuEq

Welcome to Mining Stock Daily. I’m Trevor Hall. And I’m Paul Harris.

Today is Wednesday March 1st.

On Tuesday, after drifting lower overnight to $1815 per ounce, gold suddenly shot up right after the Comex opened, running from $1815 to as high as $1838 before pulling back and settling at $1834, up $9 from Monday's afternoon settlement price. Similarly, silver sold off to as low as $20.50 per ounce overnight but then took off like a scalded cat, running up and over $21 to as high as $21.12 before profit-taking took it back down to $21.02 where it settled. The Mining Stock Journal is not exactly sure why the metals rallied strongly during U.S. market hours, especially given the sell-off in the general stock. The newsletter is watching an interesting development on the Comex. Going into the first notice period for March silver contracts, there were 31Moz worth of silver contracts standing for delivery. It's not a given that all of the contracts will stand open long enough to get noticed, but if they do it will wipe out most of the silver sitting in the registered accounts in Comex vaults. The mining stocks diverged positively from the stock market, with the GDX up 1.14%. The big news in the sector is the merger between Integra Resources and Millennial Precious Metals, which will have a combined resource of 6Moz of gold-equivalent. The Mining Stock Journal will have an analysis of and an opinion on this transaction in the next issue of the newsletter.

We will get to the news from the miners and explorers in a moment, but first a word about today’s sponsor.

This episode of Mining Stock Daily is brought to you by…Arizona Sonoran Copper.

ASCU is an early-stage copper developer and explorer of the Cactus Mine and its satellite project, Parks/Salyer, both situated on a 4km mine trend on private land in Arizona’s porphyry copper district. Opportunity for significant growth and scale exist along the mine trend, while future capex requirements outlined in the Cactus PEA benefit from significant onsite and nearby access to infrastructure. The Company is led by an executive management team and Board which have a long-standing track record of successful project delivery in North America. For more information, please visit www.arizonasonoran.com.

And here’s what you need to know this morning….

Aldabaran Resources reported drill results from two holes at its Altar copper-gold project in San Juan Province of Argentina. Hole ALD-22-222 was drilled in an area with no previous drilling. That hole retuned 25.3m of .4% CuEq, 48m of .27% CuEq, and 378m of .46% CuEq. Hole ALD-22-223 represents a 500 m step out from previously drilled hole ALD-22-221. That hole returned 1,167.5m of .48% CuEq and was terminated at 1,287.5m where it ended in mineralization. The Company is actively drilling with three rigs. Aldebaran Resources trades on the TSXV with ALDE and on the OTCQX with ADBRF. News Release

Vizsla Silver shared drill results from 14 infill holes targeting the Copala resource area at its 100%-owned, flagship Panuco silver-gold project in Mexico. A few highlights included 15m of 1,548 g/t silver equivalent, including 2.31m of 3,356 g/t. There was also 20.6m of 787 g/t and 2.1m of 2,522 g/t AqEq. The recently completed infill-drilling program serves to incrementally de-risk the local resource through tighter spaced drilling and provides representative sample material for metallurgical testing. The company currently has three drill rigs targeting the Copala/Cristiano area where mineralization remains open laterally and at depth. Vizsla Silver trades on the TSXV and the NYSE with VZLA. News Release

Arizona Sonoran has entered into a purchase agreement for additional property. The MainSpring property is 523 acres of private land immediately south of the Parks/Salyer project and east of the mine access road. The total purchase price for the property is US$14 million to be paid upon a collection of payments based on a number of set terms throughout the project timeline. Arizona Sonoran says the MainSpring Property demonstrates exploration upside contiguous to the Parks/Salyer project and may be the subject of future work programs for the Company. However, in the medium term, the Company’s focus remains on mine planning and engineering required for the upcoming PFS incorporating the existing Parks/Salyer and Cactus resource base. Arizona Sonoran trades on the TSX with ASCU and on the OTCQX with ASCUF. News Release

Vista Gold says an internal scoping study for development of the Mt Todd gold project  at a smaller initial scale has delivered promising results. Vista’s work to date indicates that a nominal 5 million tonne per year project could be designed and constructed with an initial capital expenditure of less than US$350 million for scenarios that include contract mining and would achieve annual production in the range of 150,000 – 200,000 ounces of gold per year. Operating cost analyses suggest that all-in sustaining costs would be higher than those estimated in the Company’s 2022 feasibility study on Mt Todd, largely from higher unit costs for the contract mining scenarios and adjustments for inflation. Vista intends to make these results available to potential strategic partners and other parties who have signed confidentiality agreements. Vista Gold trades on the TSX and the NYSE American with VGZ. News Release

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