Morning Briefing: Bonterra Resources Drills 20.3 g/t Au over 1.5m at the Gladiator SW Target
Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Trevor Hall.
It's Wednesday, March 19th.
The move in precious metals continued yesterday, as the metals complex continued to outperform the general stock market in the United States. The spot price surged to a record high of $3,034 per ounce, reflecting a 1.1% increase from the previous day. Silver also edged higher with a gain of 1.5% and closing at $34.82 per ounce. Jordan Roy-Byrne of the Daily Gold and contributor to the Clear Commodity Network, says the the gold move has achieved the cup and handle breakout target, and given his analysis of historic cup and handle patterns, the percentage target of the next move would take gold to $4000/oz. Copper prices remained elevated yesterday, trading above $5.00 per pound, nearing record highs. However, its effectiveness as an economic indicator has been questioned due to shifting tariff policies,trade uncertainties, and fundamental supply challenges.
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. The company recently announced a merger with Equinox Gold, which would create one of the largest Canadian gold producers, combining global production from both the Greenstone Mine and the Valentine Mine. https://www.calibremining.com/
And here’s what you need to know this morning…..
Bonterra Resources reported first assay results from the Gladiator Southwest target. 13 drill holes were completed at the target along the Barry Shear Zone by the end of the year in 2024. The results were highlighted with a hit of 20.3 g/t Au over 1.5m in hole 119. The company also released more information about the drill program this year with the JV Partner Gold Fields at the Phoenix Project. Gold Fields is currently preparing a potential 15,000 m drill program, with final target selection subject to internal review and prioritization. They intend to deploy three to four drill rigs, primarily focused along the Barry Shear Zone at the Gladiator NE and Titan targets. The program will also explore additional areas such as Duke NE, Chanceux, the Tourmaline Ridge extension, and Rouleau Till. (TSXV: BTR) (OTCQX: BONXF) News Release
Q2 Metals has completed the first four holes of the winter 2025 expansion drill campaign at the Cisco Lithium Project in the James Bay area of Quebec. Multiple wide intercepts of continuous spodumene pegmatite were encountered within a total of 2,570 metres of drilling completed to date, significantly increasing the extent of previously encountered mineralization. Results included 215.6m of 1.69% Li2O, 347.1m of 1.35% Li2O and 188.6m of 1.56%. Assays are pending on the approximately 2,570 m of core drilled in the first four (4) holes completed to date. Drilling continues to step out both to the east and to the south. (TSXV:QTWO) (OTCQB:QUEXF) News Release
Abitibi Metals received the remaining assays from its Phase II drill program from the B26 polymetallic deposit. The drill holes released today were strategically designed to test for high-grade lenses in previously underexplored gaps within the resource model. Notable intercepts include 2.02% CuEq over 16.5 meters in hole #359 and 1.42% CuEq over 33.5 meters in hole #362. Hole 360 also hit a headline 2.9m of just over 8% CuEq. Out of the holes drilled, 5 out of 5 yielded results with copper equivalent grades exceeding 2% over core lengths of 0.5 to 16.5 meters. The company says they are preparing to launch the Phase III program this month. (CSE: AMQ) (OTCQB: AMQFF) News Release
Foran Mining published additional drill results from the ongoing winter drill program at the McIlvenna Bay Project in Saskatchewan. The first infill drill hole of the winter drill program at Tesla has returned robust intervals from the central part of the Tesla Zone, with drill hole TS-25-37 successfully intersecting multiple zones of almost-continuous mineralization over an unprecedented 143m of core length. Intervals within that hole were 52.6m of 2.54% CuEq, 37.5m of 2.93% CuEq and 22.3m of 1.1%. Winter drilling continues with seven drill rigs focused on the Tesla infill program, one drill targeting the Bridge Zone and one additional rig testing high priority regional exploration targets in the vicinity of McIlvenna Bay. (TSX: FOM) (OTCQX: FMCXF) News Release
Aurion Resources has signed a definitive agreement with KoBold Metals, granting the right to earn an undivided 75% interest in the area covering approximately 35 km2 in the eastern portion of Aurion's 100% owned 160 km2 Risti Property. KoBold can earn the interest by incurring USD$12,000,000 in exploration expenditures on or before the fifth anniversary of the date of signing the agreement, and KoBold commits to a USD$1,000,000 minimum exploration expenditure within 18 months. Aurion retains full ownership rights over areas within the Project Area where the predominant mineral in a discovery is gold or silver and has the right to continue exploration activities in the Project Area during the earn-in phase and the joint venture phase as long as it holds an ownership interest. (TSXV: AU) (OTCQX: AIRRF) News Release
Ridgeline Minerals announced a new non-brokered private placement for a half million dollars. The financing comes with the sale of just over 2 million common shares at a price of $.23 and no warrant. The proceeds from the sale of the Private Placement will be used to fund exploration activities at the Company's Nevada projects and for general working capital. (TSXV: RDG) (OTCQB: RDGMF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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