Morning Briefing: Collective Mining Discovers Tungsten Mineralization at Apollo
Welcome to Mining Stock Daily. I’m Trevor Hall.
Today is Tuesday November 7th.
Gold actually traded lower during eastern hemisphere trading hours. It started to head higher as London assumed the lead in precious metals trading but of course was jack-hammered lower as soon as the Comex opened for business. When the price settled in the afternoon Globex session, gold was $15 lower than Friday's last trade before the weekend. The Mining Stock Journal believes that the gold price will be managed lower ahead of and during the Treasury's 3-part Treasury bond auction which starts today with the 3-year note auction. But more critical are the 10yr and 30yr auctions on Wednesday and Thursday. The previous 30yr auction a couple weeks ago was a disaster and triggered a sharp sell-off in the stock market. Keeping the gold price contained prevents any negative signals about the financial system that might hinder potential investors in the massive new supply of Treasuries. Silver similarly was pounded lower from an overnight high of $23.36 to the afternoon settlement of $23.12. With the metals lower, naturally the mining stocks sold off, with GDX down a little over 1%. With the Treasury auction and numerous speeches from Fed mouthpieces, the Mining Stock Journal expects a volatile week in the precious metals 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.
Arizona Sonoran Copper Company (ASCU:TSX) is focused on developing its brownfield copper project on private land in Arizona, a tier 1 location. The Cactus Mine Project is located less than an hour's drive from the Phoenix International airport via highway i-10, and with grid power and the Union Pacific Rail line situated at the base of the Cactus Project main road. With permitted water access, a streamlined permitting framework and infrastructure already in place, ASCU's Cactus Mine Project is a lower risk copper development project in the infrastructure-rich heartland of Arizona.
And here’s what you need to know this morning….
Collective Mining says that upon receipt and review of recently received detailed assay results on previously completed drill hole core, a high-grade zone of tungsten mineralization has been outlined in the shallow portion of the Guayabales project's Apollo porphyry system. Tungsten Tri-Oxide ("WO3") grades in the shallow portion of the Apollo system range between approximately 0.06% and 0.59% with the weighted average grade running 0.25%. Assuming a conservative 50% recovery rate for WO3 and currently quoted metal pricing, the weighted average gold equivalent ("AuEq") grade of the drill holes within the tungsten rich area at Apollo has increased from 2.87 g/t AuEq to 3.67 g/t AuEq (28% increase in grade). (TSXV: CNL) (OTCQX: CNLMF) News Release
Aton Resources published the latest results from reverse circulation drilling at the Semna prospect within its Abu Marawat Concession in the Eastern Desert of Egypt. 21 holes were drilled at the Semna prospect, for a total of 3,662m, during the recently completed RC drilling programme. 3 of the final 4 holes, targeting a potential eastern extension of the Semna Main Vein zone ("MVZ"), intersected significant zones of gold mineralisation, assaying >5 g/t Au, including 12.5 g/t over 6m, 5.19 g/t over 16m and 6.3 g/t over 16m. These holes have doubled the strike length of the mineralisation on the Semna MVZ, which remains open at depth and along strike. (TSXV:AAN) News Release
Pan Resources published new drill results this morning from the near-surface copper mineralization at the company’s Escacena Project in Spain. Assay results for five new drill holes from the western extension of the La Romana copper-tin-silver discovery confirm the mineralization extends over more than 1.35 kilometers of strike and remains open. These drill results include the highest grades intersected to-date in the current 25-hole drill program aimed at testing the western extension of the La Romana mineralization. Those included 15.9m of 1.15% CuEq and 12m of 1.04% CuEq. The company says a down-hole electromagnetic (DHEM) conductor anomaly from LRD171 provides a strong indication the higher-grade mineralization continues down-dip and will be targeted for future drilling. (TSXV: PGZ) (OTCQX: PGZFF) News Release
Regulus Resources has delivered samples to Rio Tinto’s Nuton to begin the phase two metallurgical program utilizing Nuton's proprietary primary sulphide leaching technologies. Samples were selected and composited from each of the main mineralization styles at the AntaKori project: high sulphidation, skarn and porphyry. A total of eight composite samples were taken from the company’s core stored in the warehouse. After determining that mineralization from AntaKori was amenable to Nuton’s sulphide leaching technologies in Phase I, Phase II is designed to expand on those results. (TSXV:REG) (OTCQX:RGLSF) News Release
The Mining Stock Daily morning briefing is produced by Clear Commodity Network and Investment Research Dynamic’s Mining Stock Journal. It is distributed throughout the world through your podcast network of choice, and by our friends at the Junior Mining Network.
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.