Morning Briefing: Exploration Results from Newcore, Faraday and Heliostar

Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Trevor Hall

It's Thursday, January 30th.  

The immediate reaction by gold to the federal reserve meeting announcement and Jerome Powell’s subsequent presser was fairly muted. Gold added only a couple dollars to its name on the day, closing at $2,769 per ounce. Silver outpaced the performance and started playing catchup with a 1.6% gain to $31.39. That was yesterday, and then the futures contracts rolled over to April and that futures contract is breaking into new all-time highs for gold and currently trading at $2,822 / oz while spot price continues to push its way higher testing those all-time high limits at $2,800. There has been a surge is gold delivered to the United States lately on speculation of potential import tariffs. CME gold stocks rose by over 12 million ounces over the past two months. 

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 375,000 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….. 

Newcore Gold published additional drill results from the program currently underway at the Enchi Gold project in Ghana. RC drilling at the Sewum deposit interested multiple zones of gold mineralization, including 1.85 g/t Au over 62m, which also included a high-grade intercept 13m from the beginning of the hole which returned 8.36 g/t Au over 10m. Other results included 2.39 g/t au over 13m  and 1.07 g/t over 27m. The drill program underway at Enchi is focused on resource growth and infill drilling designed to convert Inferred Resources to Indicated. (TSX-V: NCAU, OTCQX: NCAUF) News Release

Heliostar Metals announced additional results from a 12,500 metre drilling program at the La Colorada Mine in Sonora, Mexico. Results included 9.69 g/t Au over 5m, 9.87 g/t over 4.3m and 2.54 g/t over 15m. La Colorada restarted production in early January 2025, and the current drill program is intended to expand the mineral reserves ahead of a Feasibility Study and expansion decision planned for mid-2025. Today’s results demonstrate the underground potential beyond that of the current open pit, according to the company. (TSXV: HSTR) (OTCQX: HSTXF) News Release

Kenorland Minerals has commenced its 2025 winter exploration program at the Frotet Project in Quebec. Kenorland is continuing as the operator of the project which is now 100% owned by Sumitomo Metal Mining. The Winter 2025 program includes up to 23,000m of diamond drilling at the Regnault gold system. This program follows the recently completed Summer 2024 exploration program comprised of six drill holes for 3,266m of drilling. The proposed drill plan includes infill targets to reduce drill hole spacing to a maximum of 100m, and step-out targets along known mineralised structures. (TSXV: KLD) (OTCQX: KLDCF) News Release

Snowline Gold published drill results from the Valley Deposit expansionary holes delivered broad intervals above the cut-off grade used in the initial Mineral Resource Estimate (MRE) for Valley, including mineralization outside of the resource-limiting pit shell. Results reported today included 1.12 g/t Au over 466.6m and 1.05 g/t au over 403.6m from surface. The company also tested the Aurelius Target and confirmed the presence of gold mineralization hosted in volcanic units affected by alteration though to be caused by a reduced intrusion-related gold system. Trace visible gold was located 344m downhole. This first-ever drill program at Aurelius tested a relatively small physical footprint within the broader zone of alteration and anomalous geochemistry and mineralization observed on surface. (TSX-V:SGD) (OTCQB:SNWGF) News Release

Faraday Copper announced results from 6 drill holes from its ongoing Phase III drill program at the Copper Creek project in Arizona. Five holes were drilled in the American Eagle area and one at Old Reliable. Results included 304m of .35% copper and .87 g/t silver west of the the Banjo Breccia and 131m of .47% copper and 1.18 g/t silver at the American Eagle Breccia. The first drill hole into the Jailhouse breccia returned 84.8m of .39% copper and .98 g/t silver. Jailhouse breccia drill results begin to fill the gap between Mammoth and the American Eagle area, offering additional open pit resource potential, while maintaining a low strip ratio. The hole was terminated in strongly mineralized breccia due to mechanical issues. Follow-up drilling is underway. (TSX:FDY) (OTCQX:CPPKF) News Release

Integra Resources published a news release this morning offering their strong support for Idaho Governor Brad Little’s Executive Order titled the Strategic Permitting, Efficiency, and Economic Development Act, or SPEED Act. The recently signed executive order creates a SPEED Council, comprised of Idaho state agency directors, to streamline collaboration across state agencies and expedite the review of state permits for development projects across all sectors in a coordinated manner. The SPEED Act emphasizes Idaho's commitment to responsible resource development and demonstrates that efficient permitting can effectively coexist with stringent environmental safeguards. (TSXV: ITR) (NYSE American: ITRG) News Release

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