Morning Briefing: Fireweed Assays from Boundary; More Results from Collective's Apollo Target

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

Today is Wednesday February 15th.

Tuesday gold meandered sideways until the CPI report, at which point the price yo-yo'd between $1882 per ounce at the high end and $1854 at low end, calming down into the Comex close and settling the afternoon session at $1864. Silver in contrast to gold was hammered lower early Tuesday from $22.05 per ounce to as low as $21.60 before it did the price yo-yo thing and then rose $21.65 to $21.68 into the Comex close and settled the afternoon Globex session at $21.85. The Mining Stock Journal said that gold held its 50 day moving average for the second day in a row and silver held squarely between its 50 and 200 day moving averages. If the stock market gets hit this week, silver likely will visit its 200 dma at $21.04. Likewise the newsletter is not ruling out a trip to the 200 day moving average for gold, which is currently at $1793. 

The mining stocks were mixed, with the Amex Gold Bugs index down marginally and the GDX up slightly. The Mining Stock Journal noted that, unlike the stock market for which investor sentiment is showing extreme bullishness, the investor sentiment toward mining stocks, per the Hulbert Gold Newsletter Sentiment Index, has become negative.

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….

Collective Mining announced assay results from a further three holes drilled into the Main Breccia system at the Apollo target at its Guayabales project in Caldas, Colombia. Step-out drill hole 28 cut the longest intercept to date of 601.65m grading 1.4g/t Gold Equivalent 259.95m grading 2.15g/t. Hole 28 extends the width and vertical dimensions of the Main Breccia system to 395m and 915m. It also bottomed in mineralization indicating that the Main Breccia system remains open to the west and at depth. Collective Mining Ltd. (TSXV: CNL, OTCQX: CNLMF) News release

Regulus Resources acquired a 70% interest in the Colquirrumi claims near its AntaKori copper exploration project in Cajamarca, Peru. The Colquirrumi claims will be held by a joint-venture with 70% belonging to Regulus and 30% belonging to Peruvian miner Buenaventura. In addition to mineral potential, Regulus said the ground has substantial strategic value as any large mining operation would likely need to incorporate the Colquirrumi claims to expand resources and layback an open pit for a development at AntaKori. Regulus Resources TSX-V: REG, OTCQX: RGLSF) news release

FireFox Gold reported the remaining results of the fall 2022 core drilling campaign at its Mustajärvi Gold Project in Lapland, Finland. Holes 24 and 25 at the East Target both encountered significant near-surface high-grade gold and extended the East Target mineralization to the northwest, southeast, and downdip. Highlights included 13.05m at 15.04 g/t Au in hole 24 and 12.55m at 14.34 g/t Au in hole 25. The company said its structural model strongly suggests that there is more of this style of mineralization to be found along the +2km strike of the system. Drilling is expected to restart by April. FireFox Gold (TSXV:FFOX) (OTCQB:FFOXF) news release

Moneta Gold announced assay results from thirty resource infill and step-out drill holes on the 903 gold deposit at the Tower Gold project in Timmins, Ontario. The drilling was conducted as part of the 76,000 metres of infill and resource upgrade drill program completed in 2022. Highlights included 11.60m @ 4.77g/t Au in hole 26 as drilling confirmed significant gold grades across wide widths within the economic open pit mineral resources at 903, within an area contained during the payback period in the early years of production.  Tower hosts some 12.8Moz of resources. Moneta Gold (TSX: ME) (OTCQX: MEAUF) news release

Amarc Resources says the ongoing drilling program continues to expand the DUKE Deposit in central British Columbia. Results reported today were 309m of .42% CuEq and included 57m of .68% CuEq. This hole continues to extend the deposit to the east and to depth. Boliden is earning up to a 70% interest in the DUKE District by funding CDN$90 million of staged earn-in expenditures. Amarc is the operator of the project. They trade on the TSXV with AHR and on the OTCQB with AXREF. News Release

American Pacific Mining reported its drill plans for the Gooseberry Project in Nevada. The Company has received permits for a 2023 program that is expected to include about 15 drill holes for ~3,000m of drilling along the extension of the Gooseberry Vein and the Elderberry and Strawberry Zones. A 2022 geophysics survey result show several structural features that are not exposed at the surface. The company also noted that trace silver values associated with these anomalies are higher than those found along the trace of the Gooseberry Vein, and a new area called the Elderberry Vein target has emerged as a priority for drilling this year. American Pacific Mining trades on the CSE with USGD and on the OTCQX with USGDF. News Release

Fireweed Metals announced additional results from the 2022 drill program at Boundary West, Macmillan Pass, Yukon. An infill hole intersected 56.5 m of 6.34% zinc, 0.38% lead, and 36.4 g/t silver within the massive sulphide zone at Boundary West. Several step-out holes successfully intersected stratiform mineralization, massive sulphides and Howard Pass style mineralization, extending the mineralization at Boundary West. Assay results from 21 holes from Boundary Main and Tom are pending. Fireweed trades on the TSXV with FWZ and on the OTCQB with FWEDF. News Release

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