Morning Briefing: Calibre Mining Expands Mineralization at Valentine's Frank Zone
Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Trevor Hall.
It's Tuesday, February 11th.
Gold continued its record move yesterday and into the evening yesterday, with spot gold soaring past $2,900 per ounce on the back of new and continued tariff threats from US President Donald Trump. Market participants continue to search for safe-haven allocations such as gold and amplified concerns of potential trade wars and inflation concerns. Spot silver rose almost 1% yesterday for 32.05 per ounce after hitting a three-month high on Friday. Copper also continued its rally yesterday, gaining more than 2 and a half percent on closing its front month futures contract at $4.70 per pound.
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…..
Calibre Mining announced additional discovery diamond drill results from its expanded 100,000 metre drill program at the Valentine Gold Mine in Newfoundland and Labrador, Canada. Drill results today come from the Frank Zone 1 km southwest of the Leprechaun Pit with results of 3.08 g/t Au over 48.2m i hole 62, 97.87 g/t Au over 3.9 from surface in hole 64, and 1 g/t over 56m in hole 50. The company says the near surface mineralization highlights the potential for another open pit on the project. The Frank Zone remains open to the southwest and to the north. The Valentine Project remains on track to achieve first gold in Q2 of this year. (TSX: CXB; OTCQX: CXBMF) News Release
Revival Gold provided an update on the progress with their Mercur gold project in Utah. The company says they have completed a draft geological model, grade domains and a preliminary update grade and metallurgical block model to support the upcoming PEA. The objective with updating models is to prepare a more robust Mineral Resource estimate for optimal PEA mine planning purposes. The updated Mineral Resource will reflect additional historical drill logs and metallurgical data as well as Revival Gold’s fall 2024 column leach metallurgical test results. The PEA is expected within the next two months. Revival says they are targeting approximately 80,000-100,000 ounces per year of gold production over a 10 year mine life. (TSXV: RVG, OTCQX: RVLGF) News Release
U.S. Gold Corp published results of its updated pre-feasibility study for the CK Gold Project in Wyoming. The project’s base case NPV pre-tax now sits at $459M with an IRR of 36%. Those calculations are using $2,100 gold, $4.10 copper and $27 silver. Its life of mine all-in sustaining costs according to the report is $937 per AuEq ounce with a production profile of 1.1 million AuEq ounces over the 10-year mine life. The PFS outlines a 30-month construction period, potentially beginning in late 2025, with initial gold concentrate production targeted for 2028. However, with sufficient financing and detailed project engineering, the construction timeline could be shortened, the company says. (NASDAQ: USAU) News Release
Hot Chili reported their second round of assay results from its La Verde copper-gold discovery 30km south of the company’s Costa Fuego Project. Results reported today included 320m of .3% Cu, 78m of .5% Cu and 200m of .4% Cu. La Verde remains open at depth and laterally. The company says 8 of the 12 drill RC holes to date ended in mineralization at the end of the holes and assays remain pending for seven additional holes. Deeper diamond drilling is planned. (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) News Release
Amarc Resources has signed a mineral property option agreement to acquire a 100% interest in 22 mineral claims located adjacent to its JOY tenure and immediately to the east of the AuRORA copper-gold-silver discovery. The terms of the 5-year option to acquire 100% of the Brenda Property require annual payments of $400,000 with the option to purchase exercise price starting at $8 million if exercised in the first year, and increasing on an annual basis to $12 million in year five. The claims are subject to a 2% net smelter returns royalty of which 1% (or one-half) can be acquired for $5 million before commencement of commercial mining operations and $10 million after commencement of mining. (TSXV:AHR) (OTCQB:AXREF) News Release
The Mining Stock Daily morning briefing is produced by Clear Commodity Network. It is distributed throughout the world through your podcast network of choice, and by our friends at the Junior Mining Network.
That’s it for today everyone. Have a great day. Stay safe.
The information presented should not be considered investment advice. Mining stock daily and its affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein. Please do your own research or speak with a licensed financial representative before making any investment decisions.