Morning Briefing: Exploration News on US Election Day
Good morning and welcome to the Mining Stock Daily Morning Briefing.
Its Tuesday, November 5.
On Monday gold and silver were mostly muted with gold flat on the day, closing at $2,736 per ounce. Silver futures losses 2-10ths of a percent, reaching approximately $32.68 per ounce. Meanwhile, copper futures rose by 1.3%% to about $4.44 per pound, with some positive sentiment linked to industrial demand, even as concerns around China’s growth persisted. Dr. Copper remains optimistic again this morning as it is testing more of the upper limits of its recent trading range. Gold Miners, per the GDX were also fairly muted around 39.90 per share, hovering around support at its 50 day moving average. nvestors are likely to monitor election outcomes closely, as shifts in economic and foreign policies may impact metals demand and currency movements.
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… Vizsla Silver
Vizsla Silver is focused on becoming one of the world’s largest single-asset silver producers through the exploration and development of the 100% owned Panuco-Copala silver-gold district in Sinaloa, Mexico. The company consolidated this historic district in 2019 and has now completed over 325,000 meters of drilling. The company has the world's largest, undeveloped high-grade silver resource. Learn more at https://vizslasilvercorp.com/
And Here’s what you need to know this morning…..
Western Alaska Minerals reported drilling and trenching results that show continuity of mineralization across its Illinois Creek CRD project. Additional assay results from the Warm Springs zone strengthens evidence of a critical link between the Waterpump Creek silver deposit and the Illinois Creek gold deposit. Select highlights of results reported this morning included 2.31 g/t Au and 73 g/t Ag over 2.5m, 10.4m of 1.02 g/t au and 3.2m of 88.5 g/t Ag, 2.4% Pb and 4% Zn. Results suggest Warm Springs could be a new spoke of CRD mineralization analogous to both the IC and WPC resources. Importantly, the 2024 exploration drill results and the new SkyTEM survey emphasize the continued westward potential for the gold-copper-rich proximal part of the CRD system. (TSXV:WAM) News Release
Probe Gold published the latest results from the 2024 Courvan Gold Trend drill program on its Novador property in Quebec. Near-surface, Gold Zone was discovered along the eastern area of the Courvan Southeast Deposit with significant gold intersections grading up to 4.2 g/t Au over 12.8 metres , including 224 g/t Au over 0.8 metres. Drilling just east of the Southeast Deposit also yielded up to 14.4 g/t Au over 3.5 metres, with notable intersections of 56.5 g/t Au over 1.0 meter. The 2024 summer-fall drill program at Courvan targeted both resource expansion and condemnation drilling. The condemnation drilling program, which was focussed east of the former Bussiere mine, revealed unexpected and significant gold-rich intercepts with 17.8 g/t Au over 3m. In advance of follow-up drilling on the new discovery, the Company will re-evaluate the Courvan 3D model to refine its regional exploration model for the area. (TSX: PRB) (OTCQB: PROBF) News Release
Northisle Copper and Gold announced assays from the first five drill holes of the Company’s 2024 drill program at Northwest Expo. Hole 27 returned 120m of .57 g/t AuEq with an additional 48m of .35 g/t AuEq. Hole 28 returned 81m of 1.26 g/t AuEq while hole 29 intercepted 132.8m of 1.49 g/t AuEq and included 33m of 2.66 g/t. Many of these results will improve the resource estimate of the deposi while grade reported were above the blok grades in the most recently issued estimate. Assays from the remainder of the Northwest Expo drill program are anticipated by the end of 2024. (TSX-V: NCX) News Release
Bravo Mining published assay results from 25 diamond drill holes from its Luanga palladium + platinum + rhodium + gold + nickel deposit in Brazil. The company says infill and extensional drilling in the Central Sector continue to reveal improved mineralized grades and thicknesses as compared to previous 100m spaced sections. Drilling in the North Sector of the Luanga deposit continues to demonstrate high-grade supergene mineralization in the oxide zone with 21m at 9.34g/t PGM+Au in DDH24LU264 and wide zones of mineralization in the fresh rock such as 116m at 1.59g/t PGM+Au in DDH24LU266. (TSXV: BRVO) (OTCQX: BRVMF) News Release
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