Morning Briefing: Alphamin Resumes Mine Operations in DRC
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall
It's Wednesday, April 9th.
It was another very eventful day in market history yesterday. After the massive swing from red to green on Monday, Tuesday was the opposite move, moving from green to red in another massive swing as the Trump Administration remained steadfast on its tariff policy and the 3yr bond auction was ugly. At midnight eastern time last night, tariffs went into effect while the first and second largest economies in the world, the US and China, continue to escalate the rhetoric and tariff policies on each other. The bond market overnight showed signs of worry, as the bellwether 10yr note reached a high of 4.51%, equity futures in the US were down, and remain there this morning, while gold once again found a safe haven bid away from the trade war chaos. Currently, gold’s June contract is up 3.3% to $3,090/oz while the GDX and GDXJ mining ETFs are showing signs of life after the selling precious these past few days. Silver is currently up 3% to $30.57/oz.
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…Vizsla Silver.
Vizsla Silver is focused on becoming one of the world’s largest single-asset silver producers through the exploration and development of the 100% owned Panuco-Copala silver-gold district in Sinaloa, Mexico. The company consolidated this historic district in 2019 and has now completed over 375,000 meters of drilling. The company has the world's largest, undeveloped high-grade silver resource. Learn more at https://vizslasilvercorp.com/
And here’s what you need to know this morning…..
Heliostar shared results of more drilling at the La Colorada Mine in Sonora, Mexico. Mineralization at La Colorada's Creston Pit is predominantly hosted in three veins: the North, Intermediate and South Veins. These veins trend northeast-southwest to east-west, dip northward and are surrounded by halos of smaller mineralized vein zones. Results reported today included 8.85m grading 25.0 g/t gold and 768 g/t silver, 8.55m grading 5.52 g/t gold and 121 g/t silver, 5.5m grading 11.1 g/t gold, and 2.9m grading 10.5 g/t gold. The company says these higher-grade intercepts demonstrate underground potential beyond the current open pit. The company did step-out drilling following these success of these results which will be reported later in Q2. (TSXV: HSTR) (OTCQX: HSTXF) News Release
Talisker Resources says they have begun lateral development on the Alhambra Vein on the 1105 level at the Bralorne Gold Project. To date, a total of 107.1 metres of 3X3 metre development has been completed at the Mustang Mine including 2.2 metres in the mineralized Alhambra Vein. Vein access is currently underway on four levels with 11.4 metres already completed on the 1060 level, 34 metres completed on the 1075 level, 26.4 metres completed on the 1105 level and 9.3 metres completed on the 1120 level. Additional development will begin shortly on the 1090 level to provide a fifth level of access to mineralized material. Talisker expects to be extracting material from its first stope towards the end of May or early June. (TSX: TSK, OTCQX: TSKFF) News Release
Ridgeline Minerals provided budget guidance for a 2025 drill program at the Selena Carbonate Replacement, which is currently being operated by Ridgeline under Phase 1 of an earn-in agreement with a wholly owned subsidiary of South32. South32 has spent a total of $329,842 in qualifying work expenditures through December 31, 2024, and will spend a total of $602,000 through June 30, 2025, constituting Year-1 of the 5-year, Phase 1 earn-in period. South32 has also approved a Year-2 exploration budget of $3,450,000 for the year ending June 30, 2026, to drill up to three deep core holes (4,500 metres total) targeting the high-priority Magnetotellurics ("MT") anomaly that was recently identified at the Chinchilla Sulfide CRD target. All requisite exploration permits are in hand, with drilling anticipated to begin in June 2025. (TSXV: RDG) (OTCQB: RDGMF) News Release
Alphamin Resources says they have initiating a phased resumption of operations at the Company’s Bisie tin mine in Walikale District, North Kivu Province of east-central Democratic Republic of the Congo (DRC). This decision was made after the withdrawal of insurgents eastward from the town of Walikale towards the towns of Nyabiondo and Masisi, more than 130 kms to the east of the Company’s mine site. The Company intends to redeploy employees as part of a plan to restart tin production in phases while it continues to monitor the security situation. (AFM:TSXV) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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