Morning Briefing: Collective Mining Continues to Expand Apollo with New Drill Results
Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Trevor Hall
Its Thursday, January 16th.
Gold and silver moved higher yesterday following the US CPI print, which allowed both the move in the dollar and bond yields to relax for the time being. CPI data came in a tad softer than expected, calming inflation pressures. Front month futures for gold closed up 1.3% on the day at $2,717/oz. Silver outperformed with a 3.9% gain, closing at 31.53/oz. Looking at the gold chart, and its early morning move today, the yellow dog is building up to a potential breakout of its bullflag pattern. If the move is real, gold investors will want to see a strong green candle by the end of the day for confirmation.
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…Vizsla Silver.
Vizsla Silver is focused on becoming one of the world’s largest single-asset silver producers through the exploration and development of the 100% owned Panuco-Copala silver-gold district in Sinaloa, Mexico. The company consolidated this historic district in 2019 and has now completed over 375,000 meters of drilling. The company has the world's largest, undeveloped high-grade silver resource. Learn more at https://vizslasilvercorp.com/
And Here’s what you need to know this morning…..
Collective Mining announced assay results for the second of a series of perpendicularly drilled directional holes, designed to test the potential of newly modeled broad and high-grade subzones within the Apollo system, located within the Company's multi-target Guayabales Project in Caldas, Colombia. Hole 104-D2 expanded the newly modeled high-grade subzones within Apollo up to 50 meters to the north of previous drillhole APC104-D1 with a returns of 402.6m of 3.06 g/t AuEq, including 181m of 5.38 g/t AuEq from a depth of 7.85m. The company says visual logging of recently completed drill holes, APC104-D3 and APC104-D4, indicates that the high-grade subzones have been expanded to cover a lateral area of up to 100 meters. Discovery of these high-grade subzones, as predicted by recent geological modelling, has the potential to significantly increase the grade profile of the Apollo system block model. (NYSE: CNL) (TSX: CNL) News Release
Summa Silver reported its inaugural mineral resource estimates for both the Hughes project in Nevada and the Mogollon Project in New Mexico. According to the reports, Hughes currently sits with an estimated 10 and a half million silver equivalent ounces on indicated resource at a grade of 332 g/t AgEq and an inferred resources of 33.42Moz AgEq at grade of 418 g/t. The inferred mineral resource of its tails is estimated to be 2.74 Moz AgEq. At Mogollon, its inferred resources is estimated to include 32 Moz AgEq at a grade of 367 g/t. The mineral resource estimates are comprised exclusively of silver and gold, and do not contain base metals. Summa Silver says there are clear additional upsides for expansion at both projects. (TSXV: SSVR) (OTCQX: SSVRF) News Release
Scottie Resources is back with new drill results from the Blueberry Contact zone. Drilling intersected 59.2 g/t Au over 2.5m at the Fifi vein zone and 35.2 g/t over 2m at the Lemoffe vein zone. The data will be included in the company’s maiden resource estimate for the Scottie Gold Mine Project. Blueberry remains open at depth and to the south. (TSXV: SCOT) (OTCQB: SCTSF) News Release
Skeena Resources announced drill results from the 2024 exploratory drilling program at the KSP Property in the Golden Triangle of British Columbia. The KSP Property is situated 24 kilometers southwest of Eskay Creek and 5 kilometers southeast of the Snip Project. The headlines included 381.5m of .71 g/t Au and 4.5 g/t Au over 11m. Although recognized by previous operators, this large porphyry body was never the focus of historical exploration programs as other areas of the KSP Project took priority at the time. During the 2024 surface mapping program however, a new, widespread gold and copper geochemical anomaly was delineated over this intrusion at surface. This new anomaly, corroborated by a resistivity target defined from the 2024 deep penetrating airborne ZTEM resistivity survey, prompted the Company to test this target with eleven widely spaced exploration drill holes totaling 4,235 metres. (TSX:SKE) (NYSE:SKE) News Release
K2 Gold has agreed to acquire a 100% interest in the Si2 Project in Nevada from Orogen Royalties. Si2 hosts an early-stage epithermal gold system within the Walker Lane Trend which K2 believes represents a strong exploration analogue to the recent 13.3Moz Silicon discovery. The costs comes with a tag of C$250,000 in cash or common shares. Orogen will retain a 2% net smelter return royalty. (TSXV: KTO) (OTCQB: KTGDF) News Release
And an end to a magnificent era. Filo Corp announced the completion of its deal between BHP and Lundin Mining. BHP and Lundin Mining have acquired all of the issued and outstanding common shares of Filo in a C4.5B deal. The Filo Shares are expected to be delisted from the Toronto Stock Exchange and the Nasdaq First North Growth Market at the close of such markets tomorrow. News Release
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That’s it for today everyone. Have a great day. Stay safe.
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