Morning Briefing: Collective Drills 359.15 metres @ 3.32 g/t gold equivalent at Apollo
Welcome to Mining Stock Daily. I’m Trevor Hall. And I’m Paul Harris.
Today is Wednesday March 15th.
Yesterday gold bounced around between $1918 and $1904 and ended up settling in the afternoon at $1908, down $7 from Monday. The Mining Stock Journal said volatility ahead of and after the CPI as well as paper gold market manipulation dictated Tuesday's price action in gold. Silver took an early morning dive and shot higher after the CPI report, running $21.67 to as high as $22.07 after the CPI report before taking an afternoon Nestea plunge and settling at $21.79, 12 cents higher from Monday. The Mining Stock Journal noted that there was likely effort exerted by the price management squad to keep silver below $22. The newsletter noted that silver ran higher with the stock market on the CPI report, which was interpreted by the market to be benign enough to let the Fed pause hiking the Fed funds rate. The market, however, conveniently overlooked the fact that the core CPI was higher than expected which likely will defer the market's wishes when the FOMC meets next week. The mining stocks rose Monday, with GDX up 0.85%. Silver producers were up 2-3% across the board with the move higher in silver. The Mining Stock Journal commented that, regardless of the daily swings in the precious metals sector, the fundamentals and technicals are nearly perfectly aligned for a big move higher in the sector.
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…Arizona Sonoran Copper
ASCU is an early-stage copper developer and explorer of the Cactus Mine and its satellite project, Parks/Salyer, both situated on a 4km mine trend on private land in Arizona’s porphyry copper district. Opportunity for significant growth and scale exist along the mine trend, while future capex requirements outlined in the Cactus PEA benefit from significant onsite and nearby access to infrastructure. The Company is led by an executive management team and Board which have a long-standing track record of successful project delivery in North America. For more information, please visit www.arizonasonoran.com.
And here’s what you need to know this morning….
Collective Mining released assay results from two additional holes competed from its Pad 6 as part of the Phase II program at the Guayabales project located in Caldas, Colombia. The aim of the Phase II program is to test and define through drilling the shallow portion of the Apollo porphyry system as well as continue expanding the system through step-out drilling. Results included 359.15 metres @ 3.32 g/t gold equivalent in drill hole APC-35 including 35.30 metres @ 8.06 g/t gold equivalent from surface in oxides, and 47.85 metres @ 5.58 g/t gold equivalent from 318.30 metres to the end of the hole. Hole 33 returned 374.70 metres @ 2.22 g/t gold equivalent and included 42.85 metres @ 4.50 g/t gold equivalent from surface in oxides. Both holes terminated while still in strong mineralization at over 350 metres vertical depth. Deeper drilling is planned as part of the 2023 Phase II program. Four additional drill holes have been completed from drill Pads 6 and 7 with all four holes appearing to have intersected continuous mineralization from bedrock to downhole lengths of up to 275 metres. Assay results are pending. Collective Mining trades on the TSXV with CNL and on the OTCQX with CNLMF. News Release
TinOne says further rock sampling has confirmed and expanded the previously reported lithium discovery at its 100%-owned, 9,600 hectare Aberfoyle Project located in the tier-one mining jurisdiction of Tasmania, Australia. Sampling at the Dead Pig and Guinea Pig prospects has returned analyses of up to 1.14% Li2O. A total of 43 rock samples were collected in an area of approximately 1 square kilometre where eleven samples returned grades ≥0.5% Li2O. The company says they believe to control a dominant land position over the key prospective granites for lithium mineralization in the state. The discovery of strong lithium mineralization of up to 1.14% Li2O at the Three Pigs prospect represents an important milestone for the Company and complements a portfolio of projects with high tin prospectivity. TinOne trades on the TSXV with TORC and on the OTCQB with TORCF. News Release
Tudor Gold announced results of its updated Mineral Resource Estimate on its flagship Treaty Creek project in the Golden Triangle of British Columbia. The project now sits at an Indicated Mineral Resource of 23.37 million ounces (Moz) of gold equivalent (AuEQ) within 641.93 million tonnes (Mt) at a grade of 1.13 g/t AuEQ; comprised of 18.75 Moz of gold (Au) at 0.91 g/t, 112.44 Moz of silver (Ag) at 5.45 g/t, and 2.18 billion pounds (Blbs) of copper (Cu) at 0.15 %. Its inferred resource consists of 7.35 Moz AuEQ within 233.90 Mt at a grade of 0.98 g/t AuEQ; comprised of 5.54 Moz Au at 0.74 g/t, 45.08 Moz Ag at 5.99 g/t, and 848.00 million pounds (Mlbs) of Cu at 0.16 %. The Goldstorm Deposit remains open to the south, north, northeast and at depth. Tudor Gold trades on the TSXV with TUD. News Release
Calibre Mining says mining at its Pavon Central open pit mine operation commenced in January, ahead of budget, and averaged 1,000 tonnes per day to the Libertad Mill in February. In a brief statement from CEO Darren Hall, he says With 1,000 tonnes per day averaging in excess of 7g/t delivered to Libertad in February, Pavon Central will be a significant contributor to the grade driven production growth during 2023 and beyond. Calibre Mining trades on the TSX with CXB and on the OTCQX with CXBMF. News Release
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