Morning Briefing: Arras Enters into Strategic Alliance with Teck
Welcome to Mining Stock Daily. I’m Trevor Hall.
Today is Thursday, December 7th
Wednesday gold shot up $16 to as high as $2,053 during Asian physical market trading, evidence according to the Mining Stock Journal that the eastern hemisphere countries continue to aggressively accumulate physical gold. But as soon as China shut down for the day, the price was slammed back down to $2,038 as the London/NY paper traders took control of the price-setting. The price bounced up and down during Comex trading hours and settled in the afternoon at $2,043, up $5 from Tuesday. Silver had a different journey, spiking up to $24.71 before Asia closed but then was guided steadily lower by the paper jockeys, settling at $24.23, down about 30 cents from Tuesday's afternoon close. The mining stocks vacillated from slightly positive to slightly negative, taking their cue from both the general stock market and the volatile trading in gold and silver. GDX ended the day down slightly, though several mining stocks closed green. The Mining Stock Journal recommended exercising caution in trading the precious metals sector ahead of Friday's job report, as 90% of the time the metals get pounded on non-farm payroll Friday.
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.
Arizona Sonoran Copper Company (ASCU:TSX) is focused on developing its brownfield copper project on private land in Arizona, a tier 1 location. The Cactus Mine Project is located less than an hour's drive from the Phoenix International airport via highway i-10, and with grid power and the Union Pacific Rail line situated at the base of the Cactus Project main road. With permitted water access, a streamlined permitting framework and infrastructure already in place, ASCU's Cactus Mine Project is a lower risk copper development project in the infrastructure-rich heartland of Arizona.
And here’s what you need to know this morning….
Arras Minerals announced it entered into a Strategic Alliance Agreement with Teck Resources to focus n exploration for critical minerals on Arras’ strategically located license package in the Bozshakol-Chingiz Magmatic Arc located in Pavlodar, Kazakhstan. Teck will fund generative exploration work through 2025 with initial expenditures of US$5 million before December 31, 2025. Following the initial generative exploration phase, Teck will have the option to select up to four Designated Properties totalling 120 square kilometres each where Teck will fund exploration expenditures of up to US$47.5 million per project to have the right to earn up to a 75% interest in each project. (TSX-V: ARK) News Release
Western Alaska Mineral published a general exploration update for its Illinois Creek CRD project. The 2023 drilling season dedicated 5 holes totaling 1,706 meters to expand the high-grade sulfide mineralization at Waterpump Creek and 3,412 meters in 9 holes to seek mineralization 700 meters to the south across a post-mineral fault into the Last Hurrah target area where geophysics, surface sampling, and historical drilling indicated the mineralized corridor runs. In-fill and additional high-grade intercepts from step-out drilling at Waterpump Creek were completed, adding 45 meters to the mineralization trend. The company says this will allow an initial NI 43-101 compliant resource estimate, which is anticipated in Q1 2024. (TSX-V: WAM) News Release
Founders Metals published new drill results from the Antino Gold Project in Suriname, including the highest grade assays in the property’s history at 434.98 g/t Au over 1m. This is coming from the same hole which hit multiple gold zones. Including that big hit, other zones assayed 9m of 22.84 g/t and 6m of 4.47 g/t. (TSXV: FDR) (OTCQX: FDMIF) News Release
Moneta Gold published new assay results from 46 drill holes on the Jonpol and Garrcon deposits at the Tower Gold project in Ontario. Highlights included 7.46 g/t Au over 31.55m, including 23.67 g/t over 7.9m in hole 158, and 8.87 g/t over 11m in hole 185. Drilling is being conducted on 50 m centres as step-outs and infill of previous drill holes. Additional assays from 2023 drilling are pending and will be released upon receipt of assays. These assays come after the announcement that the company announced an at-market merger with Nighthawk Gold. That was announced at the end of November. (TSX: ME) (OTCQX: MEAUF) News Release
Kodiak Copper published results from their first holes at the South Zone on the MPD copper-gold porphyry project in British Columbia. Hole 14 intersected .32% CuEq over 234m from bedrock surface, which as within a broader zone of .17% CuEq over 1053m. The company says Porphyry mineralization at the South Zone correlates well with a 2.3 kilometre long north-trending copper-in-soil anomaly downslope to the east and chargeability responses from historic 3D Induced Polarization (3D IP) surveying along trend. Kodiak's 2023 exploration program is now complete. 18,562 metres in 33 holes were drilled. (TSXV: KDK) (OTCQB: KDKCF) News Release
The Mining Stock Daily morning briefing is produced by Clear Commodity Network and Investment Research Dynamic’s Mining Stock Journal. It is distributed throughout the world through your podcast network of choice, and by our friends at the Junior Mining Network.
The information presented should not be considered investment advice. Mining stock daily and its affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein. Please do your own research or speak with a licensed financial representative before making any investment decisions.