Morning Briefing: Dolly Varden Discovers New High-Grade Zone at Homestake Ridge

Welcome to Mining Stock Daily. I’m Trevor Hall. 

Today is Monday February 12th.

Last week gold was down a few dollars for the week, though it may have felt like the yellow dog was getting beaten with a newspaper all week. The Mining Stock Journal noted that gold was pounded hard during London and New York trading hours but managed to rally to close well off the lows each day. The newsletter noted that an examination of a 5-year daily chart shows that gold is actually drifting higher, bouncing between its rising 50 day moving average and the $2100 breakout area. Silver also closed lower, down 21 cents on the week. The Mining Stock Journal commented that silver continues to hold above $22, fighting off an aggressive effort Thursday and Friday to push it below $22. The newsletter noted that China will be closed from February 10th to the 17th in observance of the Chinese New Year. This has nervous gold and silver investors on edge. But the Mining Stock Journal said that the gold price typically rallies during the celebration period as there will be an enormous quantity of gold and silver purchased by the public. The mining stocks continue to get pushed lower, with GDX down a hefty 3.8%. That said, the newsletter noted that many of the risky, junior project development stocks have started to attract buying interest.

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… Victoria Gold. 

Victoria Gold operates the Eagle Gold Mine within the Dublin Gulch Property. Eagle is the largest gold mine in Yukon's long history of gold production. In addition to the long-life Eagle Gold Mine, the Dublin Gulch property has upsized exploration potential including priority targets Raven and Lynx among others. Follow all the gold production and exploration news at ⁠vgcx.com⁠.

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

Perpetua Resources was conditionally awarded up to $34.6 million in additional funding under the existing Technology Investment Agreement ("TIA") through Title III of the Defense Production Act. Full funding of the additional award is conditioned on modifying the existing TIA to expand the in-scope work for advancing permits and construction readiness. The modification is anticipated to be completed in the first quarter of 2024. The Stibnite Gold Project is poised to be the only domestically mined source of the critical mineral antimony, which is essential for national defense. (Nasdaq: PPTA ) (TSX: PPTA) News Release

Vizsla Silver provided an update on its Vizsla Royalties spin-out for the Panuco project in Mexico. It intends to enter into an arrangement agreement with its Royalties subsidiary within 45 days. The Company further announces that holders of its common shares will be entitled to 1/3 of a common share of Spinco and 1/3 of a common share purchase warrant of Spinco for each Vizsla Silver Share held on the share distribution record date. (TSXV: VZLA) (NYSE: VZLA) News Release

TDG Gold Corp reported their first batch of assay results from the historical core relogging and resampling program undertaken at its Shasta gold-silver deposit, located in the Toodoggone, north-central B.C. 26 diamond drillholes were resampled and assayed from the 2007 and 2010 campaigns, and all holes were within the existing Shasta Mineral Resource Estimate. Results from this specific program returned 60.0 m grading 1.04 grams per tonne gold and 57 g/t silver, which also included a sub interval of 43.1 m grading 1.27 g/t Au and 67 g/t Ag. The company says with this data, they can better define controls on mineralization and use that knowledge to extrapolate potential extensions to the current resource. (TSXV:TDG) News Release

Nevada King Gold announced results form seven vertical servers circulation holes completed at the West Atlanta Graben Zone at the Atlanta Gold Mine Project. Hole 62 intercepted 6.05 g/t Au over 41.1m including 19.44 g/t Au over 7.6m and was drilled approximately 300m northwest of the Atlanta Pit approximately 8m west of historical RC hole DHRI-12-MRC1 (1.95g/t Au over 77.8m). The company says this interval may correlate to another sub-vertical high-grade feeder structure. Hole AT23WS-63 at the west end of the section returned 1.18 g/t Au over 27.4m but was lost in an open void before drilling deep enough to intersect the projected higher-grade zone and consequently must be re-drilled. (TSXV: NKG) (OTCQX: NKGFF) News Release

F3 Uranium published final assays from their 2023 drill program from the Patterson Lake North Property. These assays included hole 110, which returned 2.0m of 42.4% U3O8 from 226.0m to 228.0m, including 1.5m averaging 55.4% U3O8 with a highest grade of 66.8% U3O8 in a single 0.5m sample. Patterson Lake North is located just within the south-western edge of the Athabasca Basin in proximity to Fission Uranium's Triple R and NexGen Energy's Arrow Projects. (TSXV: FUU) (OTCQB: FUUFF) News Release

Talisker Resources announced the company has completed the decline at the Mustang Mine to the 3700 level.  The 4 by 4 metre development over a distance of 400 metres will allow for simultaneous access to planned stopes on the 3700, 3800 and 3900 levels. Additional development was completed to prepare for the extension of the decline to access lower stopes from the 3600 and 3500 levels and for a new decline close to the portal to access new material to the east of Mustang. Mustang is part of the Bralorne Gold Project. (TSX:TSK | OTCQX:TSKFF) News Release

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