Morning Briefing: Calibre Hits more High-Grade at Panteon
Welcome to Mining Stock Daily. I’m Trevor Hall.
Today is Tuesday, January 30th
Monday gold rose over $8.00 with the spot price closing at $2,025 and the new front-month April contract closing at $2051. The Mining Stock Journal said that it will be interesting to watch the February gold delivery period because there's a lot more contracts than usual going into the First Notice of delivery tomorrow evening. While gold had a nice rally Monday, silver was quite perky, rising 38 cents or 1.6%. The Mining Stock Journal noted that there was not any specific news that might have pushed silver up like this but the newsletter believes another leg higher in the metals may be starting. The mining stocks also rallied with GDX up 1% and the Arca Gold Bugs Index up 1.5%. Once again the most of the action was confined to the large cap producers. The newsletter also noted that the SILJ ETF has a new owner that is switching benchmark indices. This caused unusual moves up and down in several junior mining stocks, particularly the silver juniors, as there were several additions, reweights and deletions from the ETF.
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… Victoria Gold.
Victoria Gold operates the Eagle Gold Mine within the Dublin Gulch Property. Eagle is the largest gold mine in Yukon's long history of gold production. In addition to the long-life Eagle Gold Mine, the Dublin Gulch property has upsized exploration potential including priority targets Raven and Lynx among others. Follow all the gold production and exploration news at vgcx.com.
And here’s what you need to know this morning….
Arizona Sonoran Copper announced its 2024 work plan related to the continued advancement of the Cactus Property through Feasibility studies while concurrently completing Nuton-related work programs. The internal work of the company this year will include a standalone PFS in the first quarter and an amended PFS which will incorporate Mainspring, which is expected to be published in the fall. The company will also partake in more infill to inferred and indicated drill program of more than 50,000m, and begin evaluating metallurgy at both MainSpring and Parks/Salyer. Nuton will also be testing its capabilities at both of those areas of the project this year. (TSX:ASCU | OTCQX:ASCUF) News Release
Calibre Mining reported new drill results from its 2023 exploration and delineation drilling program at the Panteon VTEM Gold Corridor at the Limon Mine Complex. Selected highlights from today’s collection were 111.92 g/t Au over 4.1m, 36.63 g/t over 2.2m, 3.3 g/t over 11.2m and 15.63 g/t over 5.7m. The company says these results continues to confirm the potential for resource expansion in the region. (TSX: CXB; OTCQX: CXBMF) News Release
Li-FT power reported more assays from 8 drill holes completed at the BIG West, Nite & Ki pegmatites within the Yellowknife Lithium Project. Results included 23m of 1.25% Li2O, 13m of 1.27% and 9.5m of 1.36%. The company says The Ki pegmatite will be one of the focuses for the winter drill program. They plan on systematically step out from current drilling along untested spodumene-bearing outcrops to the northwest of drilling completed to date. (TSXV: LIFT) (OTCQX: LIFFF) News Release
Red Pine Exploration reported assay results from its ongoing exploration program. Today's results come from the the hanging wall of the Jubilee Shear. They included 10.43 g/t gold over 12.95m, including 164.71 g/t over .52m in hole 477 which tested a gap from the 2019 resource. Outside of the resource, drilling returned 209.1 g/t over 1m and 171 g/t over 1.19m. (TSXV: RPX, OTCQB: RDEXF) News Release
Silvercorp published new assay results from its ongoing diamond drilling program at the TLP mine within the Ying Mining District, China. Results were 2,186 g/t silver, 6.8% lead, .35% zinc, .11 g/t gold and .43% copper over 2.29m in hole 102 at the Surface Zone. The Production Zone had an intercept of 5,955 g/t Ag, 1.53% Pb, 0.98% Zn, 0.05 g/t Au, and 0.21% Cu over an 0.60 m interval. From June 16 to December 31, 2023, a total of 23,742 m in 180 diamond drill holes, including 157 underground holes and 23 surface holes, were completed at the TLP mine. Assay results for 158 holes have been received, of which 101 holes intersected mineralized vein structures. (TSX: SVM) (NYSE American: SVM) News Release
Premium Nickel Resources also published new drill results form the past producing Selebi North underground mine in Botswana. Today’s results included 30.45 metres of 2.88% NiEq, 9.55 metres of 3.94% NiEq and 12.95 metres of 2.47% NiEq. To date a total of 26 holes have been released representing an aggregate of approximately 9,093 metres. (TSXV: PNRL) (OTCQX: PNRLF) News Release
Vizsla Silver says Simon Cmrlec will be joining Vizsla Silver as Chief Operating Officer. Mr. Cmrlec is a highly experienced senior engineer with over 30-years of industry experience who has been a director of Vizsla Silver since its formation and has most recently held the position of Chief Operating Officer of Ausenco. News Release
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