Morning Briefing: District Metals Drill Results from the Stollberg Property in Sweden
Good morning and welcome to the Mining Stock Daily Morning Briefing.
It's Wednesday, March 26th.
Gold continued to consolidate yesterday, closing the day in the green, up 3/10ths of a percent at $3,025/oz. Global gold-backed ETF’s saw significant inflows in February totalling $9.4 bn, which as the strongest since March of 2022. The World Gold Council says this is the third consecutive month of inflows, but the February data was the largest single month inflow for North America since July of 2020. And as of Monday, the GLD ETF saw a surge of $2 bn of inflows. Silver had a strong day yesterday, up over 2% as it attempts to play catch up with gold. It closed the day at 34.18/oz. And copper is making new all-time highs. Yesterday, it closed at $5.20/lb and began moving higher overnight, reaching a top of $5.38.
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 in Nicaragua. The company recently announced a deal to merge with Equinox Gold. The transaction will create an Americas-focused diversified gold producer with a portfolio of operating mines in five countries anchored by two high-quality, long-life, low-cost Canadian gold mines, Greenstone and Valentine. You can learn more at https://www.calibremining.com/
And here’s what you need to know this morning…..
District Metals reported drill assay results from 5 holes completed during the Fall 2024 drill program at the base metal polymetallic Stollberg Property located in the Bergslagen Mining District in south-central Sweden. Those results included 28.00 m at 3.68% Zn, 0.70% Pb, 23 g/t Ag, 0.11 g/t Au, and 0.05% Cu in hole 152 and 9.85 m at 4.52% Zn, 2.44% Pb, 21 g/t Ag, 0.1 g/t Au, and 0.01% Cu in hole 154. All drill holes were followed up by Boliden's in-house, state of the art, down-hole, three component electromagnetic (DHEM) survey2, and all holes showed both in-hole and off-hole EM conductors that likely represent sulphide mineralization. This drill program was carried out from mid-October to mid-December 2024 as part of the collaboration with Boliden Mineral AB. (TSXV: DMX) (OTCQB: DMXCF) News Release
Talisker Resources provided an update on mining activities from its Bralorne Gold Project located in British Columbia. Talisker commenced development work as planned at the Mustang Mine on March 19th with blasting of a diamond drill bay on the 1120 ramp followed with the initiation of vein access development the 1075 level. To date, 31.6m of 3x3 metre development has been completed for vein zone access and auxiliary development. Parallel development is soon to begin on the 1105 level providing multiple extraction headings on the Alhambra vein. Talisker expects to reach mineralized vein material by the third week in April. (TSX: TSK, OTCQX: TSKFF) News Release
Independence Gold announced the discovery of high-grade gold and silver mineralization at the Larry Vein System at its 3Ts Project in central British Columbia. Drill hole 3TS-25-07 intersected a system of two veins with mineralized breccia below the microdiorite sill, returning 19.40 m grading 5.58 grams per tonne ("g/t") gold and 73.76 g/t silver, and 15.00 m grading 3.01 g/t gold and 25.20 g/t silver. True widths are estimated to be 11.00 m and 8.5 m respectively with the intercept occurring 210 m east of the Tommy Vein System. Drill hole 3TS-25-09 returned 8.0 m at 5.89 g/t gold and 25.13 g/t silver above the microdiorite sill, with a true width of 4.75 m. This intercept was 145 m east of the Tommy Vein System. The 3Ts Project is located approximately 185 kilometres ("km") southwest of Prince George, British Columbia and is comprised of seventeen mineral claims covering approximately 8,840 hectares in the Nechako Plateau region of central British Columbia. (TSXV: IGO) News Release
Southern Cross Gold published results from two holes drilled at the Golden Dyke prospect on the Sunday Creek Gold-Antimony project in Victoria, Australia. The two drillholes are the deepest east-west oriented holes at Golden Dyke prospect at Sunday Creek. Results were 5.4m of 29.6 g/t Au and 3.2m of 18 g/t in hole 151. That last intercept came from an unrecognized sub-parallel dyke at 382.2 m depth and represents a new structural position within the mineralized system, indicating potential for additional parallel structures that could substantially expand the resource footprint. Exploration drilling is ongoing. Fifteen holes currently being processed and analysed. Six additional holes are being drilled. (TSXV: SXGC) (ASX: SX2) (OTC Pink: MWSNF) News Release
Aya Gold & Silver announced additional silver drill results from its drill exploration program at the Zgounder Silver Mine in the Kingdom of Morocco. Select results included 3,794 g/t Ag over 10 m in the Central Zone, 3,565 g/t Ag over 3m in the open-pit area, and 1,756 g/t Ag over 4.5m at depth near the granite contact. Two underground rigs and one RC rig are active on the property. The company expects a steady flow of results in the coming months. (TSX: AYA; OTCQX: AYASF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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