Morning Briefing: Collective Mining Returns 106.35 metres at 9.05 g/t AuEq from Apollo
Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Trevor Hall.
It's Tuesday, February 25th.
Gold once again pushed itself into new all-time high territory yesterday before being pushed back down. Resistance for the metal has been set at $2,973/oz. Gold was unable to find the boost to push it much above that yesterday and,instead, settled at $2,963/oz on the April contract, near the upper ranges of its range it has been trading around. There is still some froth to work off in the gold sector as commentary and media continue to focus on the move. High flying sentiment is usually a pretty good indicator of a near-term top in gold. Silver saw another red day yesterday and was down 1.2% at 32.60/oz. Copper was down about 1% yesterday and settled at $4.51/lb. Goldman Sachs analysts say higher price of copper will be needed to curb mine production declines with deficits in the market expected over the next 2 years.
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…Calibre Mining
Calibre is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Newfoundland & Labrador in Canada, Nevada and Washington in the USA, and Nicaragua. The company recently announced its intention to merge with Equinox Gold and create a major Americas-Focused gold Producer with a growing production profile. https://www.calibremining.com/
And here’s what you need to know this morning…..
Once again, Collective Mining has drilled its best intersection to date at Apollo within the larger Guayabales project in Colombia. Drill hole APC104-D5, which was designed to intercept the same high-grade sub-zone discovered in hole APC104-D1 at a deeper elevation, intersected 106.35 metres at 9.05 g/t gold equivalent within 497.35 metres at 3.01 g/t gold equivalent. On a grade accumulation basis (grams x metres), APC104-D5 yielded 1,499 g/t gold equivalent. That intersection lied within the broader interval of 497.35m of 3 g/t AuEq. Other infill holes published this morning from Apollo included 351.35m of 2 g/t AuEq and 176.4m of 3.15 g/t AuEq. The Company currently has six drill rigs operating as part of its fully funded 60,000-metre drill program for 2025. (NYSE: CNL) (TSX: CNL) News Release
Arizona Sonoran announced results from infill drilling at parks/Salyer. Selected highlights included hole 299 returned 391m of .74% Cu, hole 289 returned 465m of .74% Cu while hole 287 returned 480m of .47% Cu. All drilling is expected to be completed by the end of May 2025, and is now ~50% drilled, with assays pending. Three drills are focused on Parks/Salyer targeting the conversion of inferred mineral resources identified in the 2024 Preliminary Economic Assessment, to the measured and indicated classification. An updated Mineral Resource Estimate is expected ahead of the 2025 PFS, in H2 2025. (TSX:ASCU | OTCQX:ASCUF) News Release
Rua Gold provided an update with assay results from its gold-antimony exploration at the Auld Creek project within the Reefton Goldfield on the South Island of New Zealand. Hole 24 returned 12m of 12.2 g/t AuEq and included a 2 m interval in there of 54.8 g/tAuEq. Hole 25 returned 8m of 13.2 g/t AuEq and included 3m of 33.2 g/t. Surface exploration is intensifying to target extensions to the Fraternal and Bonanza north and south, where it remains open over a 2.5km length. (TSXV: RUA) (OTCQB: NZAUF) News Release
Southern Cross Gold announced results from 5 drill holes at the Christina prospect on the Sunday Creek Gold- Antimony project in Victoria. The mineralized trend was expanded from 1.3 km to 1.5 km length at the Christina prospect. Drillhole SDDSC148 intercepted the mineralized zone over 330 m and identified six new vein sets and 12 instances of visible gold - highlighted by intercepts like 1.0 m @ 20.8 g/t AuEq, 0.5 m @ 76.1 g/t AuEq and 0.5 m @ 41.3 g/t AuEq. Fourteen holes are currently being process and analysed while 5 more holes are actively being drilled. (TSXV:SXGC) (ASX:SX2) (OTC PINK:MWSNF) News Release
Ridgeline Minerals published results of an MT geophysical survey conducted at the Selena project in Nevada. The MT survey has identified a strong, kilometer-scale conductive anomaly that suggests the potential for the Chinchilla Sulfide target to host a robust silver ("Ag") - gold ("Au") - lead ("Pb") - zinc ("Zn") CRD system at depth. Geologically constrained 3D inversion modeling of the MT survey has identified a large conductive anomaly with dimensions of approximately 1.5 kilometers ("km") wide by 600 meters ("m") in estimated thickness, and extends for over 2.0 km along strike. Given these results, budgeting and planning in support of an accelerated 2025 Phase I drill campaign is currently in progress. The Project is currently being operated by Ridgeline under Phase 1 of the earn-in agreement with a wholly owned subsidiary of South32 Limited. (TSXV: RDG) (OTCQB: RDGMF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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