Morning Briefing: Fireweed's Final 2022 Drill Results from Boundary; Lithium Americas Commences Construction

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

Today is Thursday March 2nd.

Wednesday gold generally rose overnight, with a brief customary price hit going into the London a.m. fix, rising from $1836 to as high as $1852. For some reason at 10 a.m. NY time both gold and silver were abruptly hit, possibly in response to some supposedly hawkish rate comments from a couple of Fed officials. After bouncing around for the rest of the day, gold settled at $1843. Silver traded somewhat differently and with more volatility but managed to close slightly higher than the previous day. Overall the Mining Stock Journal said that the metals put in a strong performance given the sell-off in the stock market. The newsletter also commented that the violent intraday move Wednesday of paper silver after the physical markets closed suggests that the banks - which are short paper silver - appears to be directed at the March silver longs still standing for delivery. The Mining Stock Journal said that a large number of contracts relative to the registered inventory of silver - which is the silver that has been made available for delivery - may have the Comex banks concerned. Underscoring this is the sudden movement, mostly from JP Morgan, of  a large quantity of silver into the registered vault account. This could get interesting as the March delivery period unfolds. The mining stocks turned in a strong performance, especially given the sell-off in the general stock market, with GDX up over 2% and the Amex Gold Bugs Index up over 2.5%. The newsletter opined that the mining stocks are feeling perky.

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….

Magna Mining reported additional assay results from the remaining November 2022 diamond drilling program at the Crean Hill Mine in Sudbury, Ontario. Results were received for five holes drilled into a near-surface area of the Intermediate Zone and two holes from the 101 Footwall Zone. At the intermediate zone, results included 1.1% Ni, 0.7 %Cu, 1.2 g/t Pt+Pd+Au over 27.0 metres and 3.1% Ni, 0.6% Cu, 0.6 g/t Pt+Pd+Au over 3.7 metres. At the 101 Footwall Zone, drilling returned 2.5% Ni, 1.2 %Cu, 0.7 g/t Pt+Pd+Au over 8.1 metres and 2.4% Ni, 2.7% Cu, 2.8 g/t Pt+Pd+Au over 4.7 metres. The company says that these drill results will inform the preliminary economic assessment for the project which is currently underway and that the close proximity of these zones to surface could make them amenable to both open pit mining and more selective, ramp accessible underground mining methods. Magna Mining trades on the TSXV with NICU. News Release

Cartier Resources has new drill results out of the East Chimo Mine Sector, which is the midpoint of 450m between the Chio Mine and West Nordeau sectors of the Chimo mine property. In the 5NE Gold Zone, drilling intersected 4.0 g/t Au over 6.8 m including 24.8 g/t Au over 0.5 m; all of which is included within a 13.5 m interval grading 2.6 g/t Au. In the 5B4 Gold Zone, drilling intersected 2.0 g/t Au over 15.6 m including 5.8 g/t Au over 1.5 m. In the 2 Gold Structure, drilling intersected 17.4 g/t Au over 1.0 m. The results continue to confirm the continuity of the mineralization system and continues to assist the company in increasing the resource of the project. Cartier Resources trades on the TSX with ECR. News Release

Moneta Gold shared assay results from 43 resource infill and step-out drill holes on the 903 gold deposit at the Tower Gold project located in the Timmins Gold Camp, Ontario. The latest drilling results are part of the 76,000 metres ("m") of infill and resource upgrade drill program completed in 2022 on the 4.5 million ("M") ounces ("oz") indicated gold ("Au") and 8.3 Moz inferred Au mineral resource estimate, which was released back in September. Highlights of the 43 drill results included 24.75 m @ 4.60 grams per tonne Au, 10.05 m @ 6.02 g/t Au and 20.00 m @ 2.90 g/t Au. Moneta trades on the TSX with ME and on the OTCQX with MEAUF. News Release

Amarc Resources announced results of 2022 drilling at the PINE Deposit, and from scout drilling at prioritized porphyry copper-gold ("Cu-Au") deposit targets clustered across its 482 km2 JOY District, in north-central British Columbia. Highlights shared today included 204 m of 0.42% CuEQ and 105 m of 0.40% CuEQ. At the porphyry discovery at the Canyon Deposit target, drilling returned 96 m of 0.51% CuEQ and 296 m of 0.39% CuEQ. Over the past two years, Freeport-McMoRan, which is earning-in at JOY, has invested approximately $20 million advancing exploration. Amarc Resources trades on the TSXV with AHR. News Release

Radisson Mining Resources says they have doubled their resource estimate at the O’Brien gold project in Quebec. Indicated resources increased 58% to 1,517,000 tonnes grading 10.26 g/t Au for 501,000 ounces using a 4.5 g/t gold cut off grade. Inferred resources increased 167% to 1,616,000 tonnes grading 8.64 g/t Au for 449,000 ounces using a 4.5 g/t gold cut off grade. The company estimates there is strong potential for additional gold trends to be discovered along the 5.2 km prospective land package on the prolific Larder-Lake Cadillac Break. Mineral resources are open for an additional 750 m to the East and underexplored for 2.5 km to the West of the former O’Brien mine. Radisson Mining trades on the TSXV with RDS. News Release

Lithiu mAmericas says they have commenced construction of its Thacker Pass lithium project in Nevada following the receipt of notice to proceed from the Bureau of Land Management. Thacker Pass is targeting 80,000 tonnes per annum of battery-quality lithium carbonate production capacity in two phases of 40,000 tpa, respectively. Phase 1 production is expected to commence in the second half of 2026. The Project is expected to create 1,000 jobs during construction and 500 jobs during operations. Lithium Americas trades on the TSX and the NYSE with LAC. News Release

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