Morning Briefing: Exploration News on CPI Day

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

Today is Wednesday April 12th.

Tuesday was an interesting day in the precious metals sector. After shooting up overnight from $2012 to $2023 per ounce - June gold basis - the yellow metal was abusively swatted back down to $2011, before shooting back up to $2022. Real money with a 5,000 year pedigree settled the afternoon digital trading session at $2019. Gold's poor man's sibling, silver, ran up to $25.22 per ounce overnight before an extreme silver paper derivatives effort was undertaken to gut-punch silver back down to $24.96. But it shot back up to $25.28 before settling the Globex session at $25.18. Silver is being referenced via the May front-month price basis. The Mining Stock Journal said that the current zeitgeist is that the Fed is ready to pause hiking rates. This line of thinking seems to be reflating the stock bubble but it's also stimulating a lot more interest in the precious metals sector. 

Gold and silver have handily outperformed the S&P 500 since the bubble reflation mind-set infiltrated the markets in October. The Mining Stock Journal noted that it expects the Fed to disappoint the stock perma-bulls but added that, given the enormous buying of physical gold from eastern hemisphere Central Banks, it expects gold and silver to hold up when the stock market inevitably heads south again. On another note, one of the Mining Stock Journal's core portfolio stocks and the editor's second largest position has released more positive news. The newsletter believes this stock will be a 5-bagger and will discuss why in the next Mining Stock Journal issue.

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…Arizona Sonoran Copper.

ASCU is an early-stage copper developer and explorer of the Cactus Mine and its satellite project, Parks/Salyer, both situated on a 4km mine trend on private land in Arizona’s porphyry copper district. Opportunity for significant growth and scale exist along the mine trend, while future capex requirements outlined in the Cactus PEA benefit from significant onsite and nearby access to infrastructure. The Company is led by an executive management team and Board which have a long-standing track record of successful project delivery in North America. For more information, please visit www.arizonasonoran.com.

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

Calibre Mining announced additional drill results from its second phase diamond drill program at its Golden Eagle Project, in Washington. Drill results from the three holes across the property confirm additional broad intervals of gold mineralization consistent with the previously reported results. Highlights included 87.2m grading 2.98 g/t Au in Hole 2; and 47.6m grading 2.27 g/t in Hole 004. The Company has commenced work on a detailed and modern metallurgical program which will explore for future gold extraction potential and recovery methods and build upon previous metallurgical work. Studies are expected in the second half of 2023. Golden Eagle hosts a Measured and Indicated resource of 2.02 million ounces at 1.4 g/t. Calibre Mining (TSX: CXB; OTCQX: CXBMF) news release

Eloro Resources announced assay results front he last eight drill holes from the definition drill program at Santa Barbara in the Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia. Holes 50, 51 and 52, the southernmost holes that tested the potential south-southeastern extension of the High-Grade Zone at Santa Barbara, each returned mineralized intersections. These results included 86.67g Ag eq/t over 105.42m, 103.03g Ag eq/t over 143.06m, and 123.28g Ag eq/t over 119.77m. These three holes expand the strike extent of the Santa Barbara High-Grade Zone to more than 1,100m. It remains open along strike and to the south-southeast. Eloro Resources trades on the TSX with ELO and on the OTCQX with ELRRF. News Release

G2 Goldfields shared further exploration results from the Company’s ongoing exploration program at the 19,200-acre OKO Project, Guyana. The company says drilling and trenching have expanded the Ghanie Zone to a strike length of 1 km as shallow drilling has consistently intercepted near surface gold mineralization.Drill results reported today included 44.5m of 2.3 g/t Au, 26.5m of 4.1 g/t and 16.5m of 7.3 g/t. To date G2 has completed 55 diamond drill holes totaling 7,867m at the Ghanie Discovery. G2 Goldfields trades on the TSXV with GTWO and on the OTCQX with GUYGF. News Release 

Fathom Nickel announced assay results from a two drillhole program at the Gochager Lake deposit in Saskatchewan with highlights of 58.2m grading 1.49% nickel, 18.1m grading 2.43% nickel, with cobalt. Fathom is the first company to systematically sample the Gochager Lake style of mineralization for Cobalt, Platinum, Palladium and Gold. The Cobalt results are very positive and potentially add a significant credit to the Nickel-Copper mineralization. The company said it successfully employed the BHEM tool for the very first time, which suggests a continuation of mineralization to depth and possibly along a greater strike extent than previously recognized. Fathom Nickel (CSE: FNI) (OTCQB: FNICF) news release

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