Morning Briefing: Aztec Minerals Hits High-Grade in Arizona; Cornish Metals Announce Large Financing

Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Trevor Hall

Its Tuesday, January 28th.  

Red charts abound yesterday after the DeepSeek AI model triggered a stock market sell-off, while also influencing price action down for the precious metals complex. Gold lost about a 1 and a half percent yesterday during the volatile day, closing at $2,738/oz on the front month contract. Silver was down two and a half percent to $30.41/oz, still being supported by a key 200 day moving average. Markets appear to have stabalized this morning after yesterday’s selling action. Now markets will focus on the US Federal Reserve meeting which begins later today. Also important to note, China’s Lunar New Year holiday begins this week, which will also have an impact on trading volumes. 

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…Calibre Mining

Calibre is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Newfoundland & Labrador in Canada, Nevada and Washington in the USA, and Nicaragua. With a strong balance sheet, a proven management team, strong operating cash flow, accretive development projects and district-scale exploration opportunities Calibre will unlock significant value. ⁠https://www.calibremining.com/

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

Aztec Minerals published new silver results from step out drilling in the Southern Extension of the Tombstone Property in Arizona. The company intersected 7,269 g/t AgEq over 1.5m within a wider zone of 569 g/t over 25.8m. The intercept was in TR24-16 in the South Extension of the Contention pit and intersected multiple zones of oxide Ag-Au mineralization including 106.4m of 147.9 gpt AgEq. The deep oxidation, alteration and mineralization of TR24-16 supports the concept that the large AMT anomaly further down may be mineralized. The 2024 RC drilling program has concluded, and the oxide Ag-Au mineralization remains open on all sides. (AZT: TSX-V, OTCQB: AZZTF) News Release

Angus Gold published results from 11 exploration holes completed on the Dorset Zone as part of its 2024 Fall drilling program at the Golden Sky Project in Wawa, Ontario. Results published this morning included 3.2 g/tAu over 13.7m, 5.3 g/t Au over 2.1m and 4.3 g/t over 9.1m. The Dorset Gold Trend now defined for 2 kilometres of strike length of continuous mineralization. A fully funded 15,000m drill program is planned for the Golden Sky Project this year. (TSX-V: GUS | OTC: ANGVF) News Release

Mandalay Resources announced new drill results from its True Blue prospect adjacent to the operating Costerfield mine in Victoria, Australia. Results today included 578 g/t gold and 20.5% antimony over a half meter and 16.8 g/t gold and 2.4% antimony over 3.9m. The company says drill testing and soil geochemistry indicate an extensive system with the potential to replicate Costerfield's Central Corridor which has sustained mining the past 15 years. Follow-up drilling at True Blue has commenced with now two rigs mobilizing to further define mineralization and increase deposit confidence. (TSX: MND, OTCQB: MNDJF) News Release

Vizsla Silver published a year-end summary of its activities at its Panuco silver-gold property in Mexico. The company called 2024 a transformative year with the updated resource serving as the backbone for the first ever PEA published in July. The company has broken ground on a fully permitted and funded Copala test mine, which they say is the most valuable derisking initiative for the project. This will support feasibility study mine planning and development. The company reiterates their long-term view of first silver by 2027. (TSXV: VZLA) (NYSE: VZLA) News Release

Cornish Metals announced that it is undertaking a proposed fundraising of a minimum of 56 million British pounds. As part of the Fundraising, the Company today announces that it has conditionally raised up to £28.75 million by way of a strategic investment by the National Wealth Fund Limited. Vision Blue Resources, which currently holds just over 25% of Cornish metals, has also agreed to subscribe to the financing to retain its current percentage ownership. Cornish Metals currently has a market cap of 43M GBP. (AIM/TSX-V: CUSN) News Release

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