Morning Briefing: Drill Results from Western Alaska Minerals; Heliostar Finance the Acquisition of Ana Paula

Welcome to Mining Stock Daily. I’m Trevor Hall. And I’m Paul Harris.

Today is Tuesday January 17th. 

Last week gold rose another $51, rallying from $1870 to $1921. Silver underperformed gold, but managed to squeak out a 37 cent gain, closing above $24 at $24.37. The Mining Stock Journal said that the market is not convinced that the Fed will remain committed to tightening its monetary policy much longer and that's fueling a rally across the markets, particularly the precious metals. The newsletter added that it's not sure why silver lagged, although silver has soared 34% since the beginning of September and a consolidation of that move would set up the next leg higher for Hi-Ho. While the Mining Stock Journal has been looking for a corrective pullback in the precious metals sector after an outstanding performance in the fourth quarter of 2024, if the Fed does blink the newsletter expects gold to run into the low $2,000's and silver to take a shot at trading up to and testing $30 this year. The mining stocks similarly soared during Q4, with GDX up 21%. GDX is up another 9.7% so far in 2024. Though the U.S. markets were closed yesterday, the precious metals drifted higher Monday in international trading. At this juncture, unless the Fed takes a large hammer to the markets' expectation of Fed pivot at some point this year, the Mining Stock Journal said it expects the precious metals sector to continue the big move higher that began in September 2022.

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…Western Copper and Gold.

Western Copper and Gold is focused on developing the world-class Casino project in Canada's Yukon Territory. The Casino project consists of an impressive 11 billion pounds of copper and 21 million ounces of gold in an overall resource. Western Copper and Gold trades on the TSX and the NYSE American with WRN. Be sure to follow the company via their website, www.westerncopperandgold.com.

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

Western Alaska Minerals announced the results from drill hole 21 this morning, which is also the last hole to be reported front he 2022 exploration season at the Waterpump Creek Carbonate Replacement Deposit. The hole returned 5.1m of 789 g/t silver, 22% lead and 14.9% zinc. Similar mineralization has now been cut at similar elevations in 10 WAM drill holes and 6 historical drill holes, indicating a continuous elongate body 30 to 75 meters wide and 400 meters in length. Mineralization remains open in several directions and tracing this mineralized body will be one of the principal focuses of an expanded 2023 drill program. Western Alaska Minerals trades on the TSXV with WAM. News Release

Arizona Sonoran Copper shared assay results this morning front he Parks/Salyer project, which is part of the company’s Cactus Mine Project in Arizona. Hole 108 returned the best intercept on the property with 265.9m of 1.64% total copper, which also included 189.3m of 2% copper. Other results reported this morning were 362.4m of .68% copper, 232.3m of .9% copper and 135m of .78%. The 32,000m drill program on Parks/Salyer is now complete. The program continues to support the tenor of mineralization while reducing drill spacing from 150 m to 76 m centres, suitable to upgrade the resource from the inferred category to the indicated category. Arizona Sonoran Copper trades on the TSX with ASCU and on the OTCQX with ASCUF. News Release

Heliostar Metals announced a non-brokered private placement for up to 74M units of the company at a price of $.22 CAD for just north of $16M. Each Unit will consist of one common share in the capital of the Company and a half warrant with a strike of $.30. The Company intends to use the net proceeds from the Offering to acquire and advance the Ana Paula development stage, gold project as well as for working capital and general corporate purposes. Ana Paula is permitted for an open pit mine with measured and indicated (M&I) mineral resources of 1.46 Moz gold at 2.17 g/t gold and 3.27 Moz silver at 4.8 g/t silver. Heliostar Metals trades on the TSXV with HSTR and on the OTCQX with HSTXF. News Release

Western Copper and Gold announced results from a metallurgical program executed last year for its Casino Project in Yukon. The Metallurgical and Drill Programs were developed in collaboration with Rio Tinto. Test work consisted of detailed mineralogy, heap leach testing, comminution testing, flotation testing and detailed analysis of flotation concentrates.  Sample selection and composite sample generation followed the expected mining plan, as outlined in the 2022 feasibility study. The company also noted results from drilling last year, which targeted a deep-seated MT geophysical anomaly indicating potential for a conical mineralized zone directly southeast of the Casino deposit core zone. The drill hole intersected 3 deep intervals below 950m, with 3m of 4.85 g/t gold, 10 g/t silver, .85% Cu and 1.1 g/t Mo. Western Copper and Gold trades on the TSX and the NYSE American with WRN. News Release

Collective Mining says they have commenced the phase II diamond drill program at the Main Breccia discovery at the Apollo target, which is part of the Guayabales project located in Caldas, Colombia. The Main Breccia discovery is a high-grade, bulk tonnage copper-silver-gold porphyry-related system. The phase II program will begin with three diamond drill rigs with potential to increase the number of rigs as the program progresses. The program commenced with shallow drilling of near surface mineralization below mineralized breccia outcrops in the southern and central areas of the Main Breccia discovery from newly constructed drill pads, 6 and 7. Collective Mining trades on the TSXV with CNL and on the OTCQX with CNLMF. News Release

Faraday Copper announced results from two drill holes at its Copper Creek Project in Arizona. Hole 13 returned 15m of 10.83% Cu, 1.65 g/t gold and 55.62 g/t silver from a depth of 234m at the Copper Prince breccia and is located approximately 40m below the pit shell used to constraint the mineral resource published last year. The mineralization consists of massive chalcopyrite, bornite and pyrite. Faraday Copper trades on the TSX with FDY and on the OTCQX with CPPKF. News Release

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