Morning Briefing: B2Gold Invests into Snowline; Integra Stockpile Drill Results

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

Today is Tuesday March 14th.

Gold on Monday shot up nearly $50 while silver soared $1.40, or nearly 7%, on news that the Fed was implementing a QE-lite facility in order to provide banks with liquidity to meet depositor outflows in an effort to prevent more bank failures beyond the Silicon Valley Bank and Signature Bank failures over the weekend. Gold traded back above its 50 day moving average and silver traded handily over its 200 day moving average. Both metals are technically extremely oversold and, based on the MACD and RSI momentum indicators, appear to be headed much higher. The Mining Stock Journal noted that the move by the Fed to provide liquidity to the banks in the event of a bank run is a pivot of sorts to a more accommodative monetary policy. In light of this, the newsletter expects possibly to see a big move higher in the precious metals sector. The mining stocks also soared on Monday, with GDX jumping 7% on heavy volume. Some individual mining stocks were up over 10%.

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…Fireweed Metals.

Fireweed Metals is advancing 3 different projects within the Yukon and Northwest Territories, including the flagship Macmillan Pass Project, a large zinc-lead-silver deposit and the Mactung Project, one of the largest and highest-grade tungsten deposits in the world. Fireweed plans to advance these projects through exploration, resource definition, metallurgy, engineering, economic studies and collaboration with indigenous people on the path to production. For more information please visit fireweedmetals.com.

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

Integra Resources shared additional drill results of 20 drill holes from the DeLamar Project, specifically the North DeLamar backfill, Stockpile 1, Stockpile 2 and the first assays from Florida Mountain’s Jacobs Gulch and Tip Top backfill. Selected results included .50 g/t AuEq over 111.25m and .53 g/t over 102.11m at the North DeLamar Backfill. At Florida Mountain’s Jacobs Gulch Backfill, drilling returned 1.11 g/t over 10.67m. And at DeLamar’s Stockpile 2, drilling returned .56 g/t AuEq over 42.68m, which also included 5 g/t over 1.53m within that hole. To date, the Company has tested the North DeLamar backfill, Stockpile 1, Stockpile 2, Jacobs Gulch backfill, and Tip Top backfill. In total, the Company has drilled 8,907 m in 222 drill holes as part of this drill program. The Company is on pace to complete the stockpile drill program in April 2023. Integra Resources trades on the TSXV with ITR and on the NYSE American with ITRG. News Release

Faraday Copper shared results from  three drill holes at its Copper Creek Project in Arizona. The holes were drilled to target potential expansion of the open pit mineral resource. Results included 100.12m of .69% copper and 1.15 g/t silver starting at 34.88m depth at the Copper Giant breccia. Mineralization remains open at depth and to the southwest. Other results reported today were 8.32 m at 1.62% copper and 2.54 g/t silver from 5.64 m, and 9.64 m at 0.31% copper and 1.15 g/t silver from 110.55 m. Sixteen drill holes have been completed and the results for nine holes have been released to date. The assay results for additional completed drill holes will be released as they are received. Faraday Copper trades on the TSX with FDY and on the OTCQX with CPPKF. News Release

AbraSilver released assay results  from its latest diamond drill holes from the ongoing Phase III program on the Company’s wholly-owned Diablillos property in Salta Province, Argentina. Hole DDH 23-004 encountered the all-time highest-grade silver intercept recorded on the entire Diablillos project to date with 14m of 3,025 g/t silver and .21 g/t Au. The hole also intersected the all-time highest-grade silver intercept recorded on the Diablillos project, with 32,481 g/t Ag and 0.74 g/t Au over 1.0 metre. This shallow oxide-hosted mineralization is located in a band approximately 50 metres north of the "main trend" of silver mineralisation in the JAC Zone and appears to be in a separate zone of high-grade silver mineralisation. AbraSilver trades on the TSXV with ABRA and on the OTC with ABBRF. News Release

Snowline Gold says B2Gold has agreed to complete a strategic investment into the Company. B2Gold will be the purchaser of common shares of the Company on the back end of an initial non-brokered flow-through private placement arranged by Snowline for just under 4M flow-through common shares at a price of $4.86CAD per flow-through share for aggregate proceeds of $19M. The common shares to be purchased by B2Gold on the back end of the private placement, combined with 3,000,000 common shares of the Company recently acquired by B2Gold on the open market, will represent a total position of approximately 5.0% of the issued and outstanding common shares of the Company upon completion of the Offering. B2Gold will be granted a right to maintain their pro rata ownership of up to 5.0% in connection with future equity financings as well as following the exercise of convertible securities of the Company. Snowline Gold trades on the CSE with SGD. News Release

Fortuna Silver says the Mexican Federal Administrative Court has granted a permanent injunction which allows the San Jose Mine to continue to operate under the terms of the 12-year environmental impact authorization. The company initiated legal proceedings to contest and revoke the annulment of the EIA in response to the resolution issued by SEMARNAT. The grant of the permanent injunction in favor of the San Jose Mine allows it to continue to operate under the terms of the 12-year EIA until the Court has ruled on the revocation of the EIA. Fortuna Silver trades on the NYSE with FSM and on the TSX with FVI. News Release

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