Morning Briefing: Brunswick Exploration Publishes First Drill Results from Mirage

Welcome to Mining Stock Daily. I’m Trevor Hall. 

Today is Tuesday, December 5th

Sunday night the market and social media wires were buzzing furiously after gold gapped up to $2090 when the Globex trading system opened for business Sunday evening and then shot up to an all-time high of $2153. The Mining Stock Journal said the war news from the Middle East was likely the biggest factor but noted driven by fund algos chasing price momentum. After pulling back to $2105 by midnight, the yellow dog was pushed lower in three stages, most notably right after the a.m. London price fix and again when the Comex opened. Gold bottomed $2038 before bouncing to close the afternoon session at $2,048. From high to low, it was the 6th biggest absolute intraday drop in the history of gold trading. The Mining Stock Journal commented that it is 100% certain that official price intervention was the primary factor in the sell-off. Silver followed the same price path as gold, peaking at $26.30, March contract basis, before getting monkey-hammered to as low as $24.80 before settling at $24.89. The mining stocks were punished for the action in the metals, with GDX losing 2.5%. The Mining Stock Journal noted that the precious metals sector has become overbought technically and frothy from a sentiment perspective after the torrid rally in the sector from mid-November. The newsletter added that corrective pullback will set up the next move higher.

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… Western Copper and Gold.

Western Copper and Gold is focused on developing the world-class Casino project in Canada's Yukon Territory. The Casino project consists of an impressive 11 billion pounds of copper and 21 million ounces of gold in an overall resource. Western Copper and Gold trades on the TSX and the NYSE American with WRN. Be sure to follow the company via their website, www.westerncopperandgold.com.

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

Brunswick Exploration announced their inaugural drill results form the Mirage Lithium Project in Quebec.  The initial 5,000 meters drilling campaign outlined four major spodumene-bearing pegmatite dykes where significant intervals of continuous lithium mineralization were drilled. All pegmatite dykes drilled to date start at surface, are open in all directions, and are located within an area of approximately two by two kilometers. Highlights included 25.8m of 2.57% in hole 2, including 14.2m of 3%. Hole 7 returned 50.6m of 1.06% while hole 14 hit 16.2m of 2.75%. Assays are pending for a further 23 drill holes completed during the fall 2023 program. (TSX-V: BRW, OTCQB: BRWXF) News Release

Li-FT Power reported assay results 8 drill holes completed at the Ki, Shorty, and Fi-SW pegmatites within the Yellowknife Lithium Project in Northwest Territories. Highlights from today’s results included 26m of 1.14% Li2), 23m of 1.03%, and 20m of 1.52%. The Company has concluded its 2023 drill program at the Yellowknife Lithium Project with 34,238 m completed. Currently, LIFT has reported results from 100 out of 198 diamond drill holes. (TSXV: LIFT) (OTCQX: LIFFF) News Release

West Red Lake Gold Mines reported new drill results from its Madsen Mine in Ontario. The results reported today came from the South Austin Zone, which currently contains an indicated resources of just under a half million ounces at 8.7 g/t. Drill results highlights included 1m of 296.83 g/t, 3.2m of 47.44 g/t Au and 7m of 21.62 g/t Au. The WRLG team believes that further exploration potential exists down-plunge which could potentially add to the unmined portion of South Austin, which sits adjacent to existing underground infrastructure marking it as a high caliber target that could potentially be developed early during future mine restart and production. This area is a priority expansion target as underground drilling continues. (TSXV: WRLG) (OTCQB: WRLGF) News Release

G2 Goldfields announced additional intercepts from the company’s drilling campaign at the OKO Project. Results reported today included 8.9m of 13 g/t Au in hole 180 which also included a .8m subinterval of 1275.1 g/t Au. Other results were 5.7m of 53.1 g/t and 4m of 36.8 g/t Au. G2 currently has five diamond drill rigs operating on the project. (TSXV: GTWO; OTCQX: GUYGF) News Release

Meridian Mining says that it has generated more exploration targets on the Santa Helena area with a a tonnage range of 3.2 -7.2 Mt grading between 3.0 - 3.2g/t AuEq* , which gives a potential high-grade metal inventory range of between 306,000 to 763,000 AuEq ounces. A robust geological and mineralization model has been achieved by incorporating the results from historical drill campaigns, geology, and mining records, with Merdian's recent results from diamond drilling, trenching, mapping and geophysical surveys. In addition to this news, the company also released new drill results from that Santa Helena area. It returned 36.6m of 1.3 g/t AuEq. (TSX:MNO) (OTCQX:MRRDF) News Release

Heliostar Metals has added Gregg Bush as its Chief Operating Officer. Mr. Bush offers a wealth of experience in mine building. He was previously COO of Capstone Mining. The company says they have a clear vision to grow into a mid-tier gold producer with Ana Paula being their first operating mine. (TSXV: HSTR) (OTCQX: HSTXF) News Release

Western Copper and Gold provided a quick update on the Skagway redevbelopment project which was approved by the Yukon government for $21.4M and will improve the marine Services Platform, which will continue to support ore export for Yukon Mining. The Yukon government is currently working towards finalizing an Export Cooperation Agreement with Skagway. The MSP at Skagway is located in South-east Alaska and is 560 km from, and is the closest tidewater port to, the Casino Project. The Port of Skagway has historically been the preferred port to ship concentrates from the Yukon, and most recently was used to ship copper concentrates from the Minto Mine. News Release

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