Morning Briefing: Collective Mining Drilling Results Expand Apollo Mineralization into Olympus
Welcome to Mining Stock Daily. I’m Trevor Hall.
Today is Monday, August 19th.
Last week gold rose $33 for the week and hit a new all-time high close on the Comex and in the afternoon Globex session, closing out the week at $2537, December gold basis. On percentage basis, silver outperformed gold, running up $1.16 for the week, closing at $28.85, September basis. After hitting 92 mid-week, the gold:silver ratio closed the week 87.9, 1.80 points lower for the week. The Mining Stock Journal said the move in the precious metals last week reflects the ongoing devaluation of fiat currencies, particularly the US dollar. It noted that it believes there's a big move coming this fall which will take the gold:silver ratio quite a bit lower and which, if that bull move comes to fruition, silver could shoot into the high-$30's or low-$40's before year-end. The mining stocks keyed off the metals and outperformed gold and silver, as GDX rose 6.8% for the week. The Mining Stock Journal noted that most of the move was concentrated in the larger cap producers but that it expects the junior micro-cap stocks to start moving sharply higher if the bull move in the sector sustains.
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 325,000 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 reported assay results from eight holes from the Guayabales Project in Colombia. Results this morning included 220.6m of 1.07 g/t AuEq, 256.35m of 1.23 g/t AuEq and 50.1m of 1.2 g/t AuEq. These holes discovered mineralization is connected between Olympus and Apollo, the area covering both systems has now been integrated into a single large and expanded Apollo system measuring approximately 1,000 metres by 800 metres and open for further growth. This is the first time that shallow brecciated porphyry mineralization has been discovered outside of the outcropping portion of the Apollo model some 400 metres to the southwest. (NYSE: CNL) (TSX: CNL) News Release
Dolly Varden Silver announced additional results from the Wolf Vein step-out directional drilling. Drill hole DV24-412 averaged 606 g/t Ag over 16.20 meters on a 45m step-out from 2023 drilling and 31m below DV24-404 (previously released August 12, 2024).Hole 414 returned 771 g/t Ag, 2.93% Pb and 2.29% Zinc over 3.77m and included a 2.26m interval of 1,065 g/t Ag. A total of four southwest step-out holes have been completed from one drill pad using directional drilling technology to precisely target areas for step-out and infill work. Approximately 8,000 meters of an ongoing 25,000m drill program at the Company's 100% owned Kitsault Valley Silver and Gold Project is being drilled at the Wolf Vein to expand and infill the plunge of high-grade silver mineralization. (TSXV: DV) (OTCQX: DOLLF) News Release
Nevada King Gold announced results from 12 vertical reverse circulation holes out of the Atlanta Gold Mine Project. Eight of these holes were drilled in a new discovery area called the Wild West Zone. Selected results included 42.7m of 4.67 g/t Au, 35.1m of 2.66 g/t Au and 73.2m of 1.48 g/t Au. The results define mineralization beyond the boundaries of the resource zone and remains open to the west and south. (TSXV: NKG) (OTCQX: NKGFF) News Release
Mawson Gold reported drill results from partners Southern Cross Gold on their Rising Sun prospect on the Sunday Creek Project in Victoria, Australia. Two high-grade vein sets in a 150m down-dip step out which returned ten assays intervals of greater than 10 g/t Au and more than 5% antimony. Results included 2.4m of 9.7 g/t AuEq and 7m of 20 g/t AuEq in one hole. Another returned 1m of 10.1 g/t AuEq and .1m of 356.4 g/t AuEq. Cumulatively, 128 drill holes for 56,388 m have been reported by SXG (and Mawson). Twenty-one drill holes on the project are currently being processed and analysed, with five holes in progress. (TSXV:MAW)(OTC PINK:MWSNF) News Release
Q2 Metals reported first core assay results from drill holes CS-24-007 to CS-24-010 from the Spring 2024 Drill Campaign at the Cisco Lithium Property ocated within the greater Nemaska traditional territory of the Eeyou Istchee James Bay region of Quebec, Canada. Results included 181.1m of 1.67% Li2O, 94.6m of 1.52% and 115.9m of 1.48% Li2O. The analytical results reported herein represent the first 1,017 m of drilling over four (4) holes of the 3,753 m that were drilled over 12 holes at the Cisco Property. The Spring 2024 Drill Campaign was designed to expand upon the 2023 drilling by the Property vendors. (TSX.V:QTWO) (OTCQB:QUEXF) News Release
Contango ORE shared results on gold production from the First Batch of Manh Choh ore processed at the Fort Knox mill located near Fairbanks, Alaska and operated by Kinross Alaska. Fort Knox processed approximately 210,000 tons (190,500 tonnes) of Manh Choh ore with an average grade of approximately 0.276 ounce/ton (9.46 grams/tonne (“g/t”)), with an average recovery of 95%. Attributable to the Peak Gold JV, approximately 55,000 ounces of gold and 11,000 ounces of silver contained in doré bars were poured at Fort Knox and sent to a third-party refinery for further refining. (NYSE American: CTGO) News Release
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