Morning Briefing: Collective Mining Drills Largest Grade Accumulation to Date at Apollo

Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Ian Wagner

Its Tuesday, December 17th.  

The front month for gold tested its 50 day moving average yesterday at the hight of its intraday trading range at $2684, but was pushed lower from there, closing the day at $2670, down 2/10ths of a percent. Traders are toiling with a more cautious Federal Reserve next year while India’s gold imports are set for a sharp slowdown this month following record purchases in November. According to CME's FedWatch tool, the odds of a 25 bps cut this week stand at 97%, but the chances of a reduction in January are just around 17%. Silver saw little change yesterday. It closed at 31.05, up almost 1/10th of a percent. 

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…Minera Alamos.

Minera Alamos is a gold developer and producer with its first low capex mine, Santana, continuing to work through start-up development. The company is also advancing the Cerro de Oro project through the permitting process. Recently, Minera announced the proposed acquisition of Sabre Gold Mines which owns the planned 40,000 oz/y Copperstone gold mine in Arizona. Minera is built around its operating team which brought 4 mines into production in Mexico over the last 13 years. Learn more at mineraalamos.com.

And here’s what you need to know this morning….. 

Collective Mining published results from the first of a planned series of orthogonally drilled holes designed to test the potential of newly modeled broad and high-grade subzones within the Apollo system in Colombia. The first results from Pad 17 and drilled from the northern side of Apollo in a southerly pattern was hole 104-D1 and returned a total of 534.4m of 2.7 g/t AuEq, which included 150.55m of 6.16 g/t AuEq at the start of mineralization. This is the largest grad accumulation intercept to date at Apollo at 1,440 g/t AuEq on a gram x metre basis. The broad mineralized interval of APC104-D1 has also expanded the Apollo system southwestwards by an additional 30 metres. Visual logging of recently completed additional drill holes, APC104-D2 and APC104-D3, indicate that both holes have intersected the same styles of mineralization and sulphide levels as reported in APC104-D1. (NYSE: CNL) (TSX: CNL) News Release

Bonterra Resources announced initial assay results from its campaign on the Desmaraisville South Project. All drill holes are located within 5 kilometers of the Bachelor Mill Complex, ranging from near surface to a depth of less than 300 m. Results included 1.13 g/t Au over 16m, 5.3 g/t Au over 1.4m and 2.58 g/t over 6m. The campaign consisted of 16 diamond drill holes completed between August to November 2024. (TSXV: BTR) (OTCQX: BONXF) News Release

Kenorland Minerals provided a corporate update on its portfolio of assets and its treasury. The Company's current working capital position is approximately $27.2 million as of October 31st. The total updated forecast for exploration expenditures on properties in which Kenorland holds direct or royalty interests is anticipated to be over $27.5 million in 2024, which includes approximately $17.9 million in exploration financed by partners. Forecasted 2024 revenue, including management fees and cash payments is approximately $2.2 million and the Company anticipates receiving a refundable mining tax credit of approximately $1.0 million. In addition, Kenorland holds equity positions of approximately $3.56 million in various private and publicly listed companies.  (TSXV: KLD) (OTCQX: KLDCF) News Release

Bunker Hill Mining reported results from a recently completed underground resource conversion drill program at the Bunker Hill Mine located in Kellogg, Idaho. The aim of this drill program is to inform an ongoing technical and mine planning program in the upper and de-watered part of the mine, close to existing underground infrastructure, thereby potentially increasing the Life of Mine at restart. Results included 14.7% Zn 5.2% Pb and 2.10 Ag Opt over 13.2 ft in hole 7099, which is a down-dip extension of the Quill zone. (TSX-V: BNKR | OTCQB: BHLL) News Release

Cartier Resources reported drill results in the western part of the East Cadillac property. Results included 44.7 g/t Au over .5m and 17 g/t over .5m. These holes extend the strike length of the system to 10 km. The 2024 exploration drilling program consisting of 162 holes for a total of 28,084 m was spread over 49 different drill sites and discovered, over a distance of 10 km within the Larder Lake - Cadillac Fault Zone, 10 high-grade gold areas. (TSXV: ECR) News Release

District Metals has received conditional approval for the listing on the Nasdaq First North Growth Market in Sweden. The Company believes that a secondary listing on the Nasdaq First North will allow Swedish investors easier investment access in District, thereby strengthening the Company's shareholder base and increasing the Company's access to capital. (TSXV: DMX) (OTCQB: DMXCF) News Release

Elemental Altus Royalties published an update from their portfolio, which highlighted the recent US and Canadian government funding for Fireweed’s Mactung Project, in which Elemental hols an uncapped 4% net smelter return royalty on. They also mentioned Rumble Resources in Australia plans to expedite the development of the Western Queen Gold Project, which Elemental holds a A$6 to A$20 per ounce gold production royalty and an uncapped 2% NSR on all other saleable products. (TSXV: ELE) (OTCQX: ELEMF) News Release

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