Morning Briefing: Calibre Plans Massive Exploration Programs in Nicaragua and Nevada

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

Today is Tuesday February 7th.

Gold rallied up to $1894 per ounce yesterday and silver rose to $22.65 per ounce during the eastern hemisphere physical gold trading day. But as soon as Asia shut down, around 3 a.m. NY time, both metals were abruptly slammed lower, with gold falling to as low as $1876 and silver selling off to $22.17. The Mining Stock Journal noted that both metals suffered their final leg lower during the day right after the London p.m price fixings. Both metals actually managed to bounce going into the close of Comex trading. The Mining Stock Journal commented that the overnight price pattern reflects the influence of price influencing via the heavy selling of Comex paper gold and silver. Gold settled the afternoon Globex digital trading session at $1881, with silver settling at $22.31. 

The Mining stocks sold off as well on Monday, though not as much as would have been expected given the decline in the metals. The Amex Gold Bugs index dropped 1.4% after Newmont was hit 4.5% after the news of its takeover bid for Newcrest. Conversely the GDX was down just 0.36%, as Newcrest, which jumped 12%, is one of the GDX's largest weightings. Short term the sector may be volatile while the markets sort out the latest FOMC policy stance and digest Jerome Powell's remarks at a speech he will give today in Washington. Longer term the Mining Stock Journal believes the current sector pullback will set-up a big move this spring.

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….

Calibre Mining plans 60km of drilling this year in Nicaragua with a US$20 million exploration budget focused on resource expansion and discovery  while in Nevada, it plans 40km of drilling with a US$9 million exploration budget focused on new discovery at both Pan and Gold Rock. In Nicaragua, it sees high-grade expansion opportunities at Panteon VTEM Corridor, Talavera extension, Veta Azul and Volcan, which are not yet included in its Resource statement; as well as additional Resource expansion and grade increase opportunities at the Eastern Borosi Project, and first pass drilling at the recently permitted Buena Vista and La Fortuna concessions, near the Limon and Libertad mine complexes. In Nevada, Calibre sees numerous discovery opportunities along a 5km trend south of the Pan resource area and centered on the new Coyote discovery. Calibre Mining (TSX: CXB; OTCQX: CXBMF) News release

Lithium Americas received a favorable ruling from the US District Court, District of Nevada for an appeal filed against the Bureau of Land Management for the issuance of the Record of Decision relating to the Company’s Thacker Pass lithium project. The Federal Court declined to vacate the ROD for the mining Plan of Operations which results in there being no impediment to commencing construction. The Federal Court ordered the BLM to consider one issue law relating to the area designated for waste storage and tailings. The Federal Court rejected arguments that the Project will cause unnecessary and undue degradation to the local sage grouse population and habitat, groundwater aquifers and air quality; or that the BLM failed to adequately assess the Project’s impacts on air quality, wildlife and groundwater, or impacts to culturally or religiously significant areas. Lithium Americas (TSX: LAC) (NYSE: LAC) News release

ATEX Resources announced the results from drill hole 11A from Phase III of its drilling at the Valeriano Copper-Gold Project in the Atacama Region of Chile. The hole returned 1,270m grading 0.43% Cu, 0.21g/t Au and 52ppm Mo for a 0.63% Copper Equivalent, ending in mineralization at 2,130m in mineralized porphyry. The hole extends the mineralized zone 200m to the northeast and confirmed the continuity of the Central High-Grade Porphyry Trend, however the mineralisation starts at almost 1km below surface. ATEX Resources (TSXV: ATX) news release

G2 Goldfields announced additional assay results form the ongoing drill program at the Company’s newly discovered Ghanie Zone at its OKO Project in Guyana. Drill results included 26.6 m of 5.1 g/t gold, and included a 7.6m interval of 15.5 g/t. There was also 32.1m of 2.2 g/t and included a 4.9m interval of 7.5 g/t gold. The Ghanie area is the second significant discovery made by G2 and lies between the OKO Main Zone and Reunion Gold’s Block 4 discovery. G2 will be drilling this discovery with multiple drill rigs whilst continuing to advance additional regional targets to the drill-ready stage. G2 Goldfields trades on the TSXV with GTWO and on the OTCQX with GUYGF. News Release

Royal Road Minerals announced the integration of its Guintär and Niverengo mining concession contract areas into one new concession contract area and the consequent renewal of the relevant exploration term for a further 19-years and 11-months. The newly integrated Concession Contract was issued and signed by the Governor of Antioquia in December and final documentation has been submitted to the Colombian Mining Agency for registration. The newly integrated mining concession contract has an area of 1848 ha, which incorporates the currently known extent of copper and gold mineralization at GNM. Royal Road commenced drilling at Guintär-Niverengo in July 2021 with highlights to-date include 303.7m grading 1 grams per tonne gold equivalent in hole 12. Royal Road Minerals (TSXV: RYR) News release

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