Morning Briefing: Fission Uranium Drills 34m of 19.12% U3O8

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

Today is Tuesday November 8th. 

Monday gold and silver pulled back early in the morning from Friday's torrid move higher  but, interestingly, bounced once trading in London was underway. Gold traded down to $1670 but then recovered up to as high as $1685 before fading a bit and settling the afternoon session at $1677. Silver pulled back to $20.50 then bounced along with gold in early London trading. Silver made another push higher after the Comex opened, trading briefly over $21 before pulling back and settling at $20.85.

The Mining Stock Journal noted that silver made surges similar to the current move at the beginning of October and the end of July. $21 has proved so far to be stout resistance. If silver can sustain a move over $21, there's potential for an explosive move in the coming weeks. Certainly the fundamentals support much higher prices for both gold and silver. The mining stocks were volatile on Monday and at on point were red on the day. But GDX closed up nearly 1% and the Amex Gold Bugs Index jumped 1.26%. The Mining Stock Journal commented that, as with silver, the mining stocks are set-up for the possibility of a move higher that would take many investors by surprise.

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…Integra Resources.

Integra Resources is advancing the past-producing DeLamar Project in southwestern Idaho. The Company has continued to demonstrate resource growth and conversion through greenfield and brownfield exploration to further de-risk and advance the project towards permitting. Integra Resources trades on the TSX-V under ITR and the NYSE American under ITRG.

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

Fission Uranium announced assay results from the summer 2021 "metallurgical & geotechnical testwork" drilling on the R840W zone at its' PLS project, in the Athabasca Basin region of Saskatchewan, Canada. Four metallurgical holes and three geotechnical holes were completed as part of the Phase 1 feasibility study field work. Assays confirm that all 7 holes intersected wide intervals of mineralization, with 6 holes returning strong, high-grade intervals, including 34m of 19.12% U3O8, which is one of the strongest holes drilled to date at the PLS project. The drilling was part of the technical work required for the feasibility study, which Fission expects to complete by the end of 2022 to early 2023. Fission Uranium trades on the TSX with FCU. News Release

Troilus Gold reported results from the Z87 zone at its Troilus Project in northcentral, Quebec, Canada. The company says these results confirm a high-grade zone of mineralization connecting the gap between the formerly mined Z87 and J open pits , and exhibit potential for significant growth of indicated and inferred resources well above the average grade of the Troilus deposit. Results included 1.75 g/t gold equivalent over 138m, 1.35 g/t AuEq over 98m and 1.1 g/t over 91m. The results are part of a recently completed 11,000-metre drill program designed to expand mineralization to the north and south of Z87 pit, the largest of the two formerly mined open pits. Troilus Gold trades on the TSX with TLG and on the OTCQX with CHXMF. News Release

Liberty Gold reported Reverse Circulation drill results from the M Zone at its Black Pine oxide gold project in southeastern Idaho. Results included 36.6m of 1.53 g/t gold and 57.9m of 1.4 g/t. These results are part of an ongoing 65,000 metre (“m”) drill program at Black Pine designed to Upgrade the current resource and discover new oxide gold mineralization, Add to the endowment of near-surface, higher-grade, oxide gold mineralization potentially accessible in the first one to three years of a future mining operation, and drill out gold mineralization between smaller resource pits, linking larger zones of continuous oxide gold mineralization. Liberty Gold trades on the TSX with LGD and on the OTCQX with LGDTF. News Release

Skeena Resources announced new drill results from the 21A West Zone delineation program as part of the recently completed 2022 regional and near mine exploration campaigns at the Eskay Creek gold-silver Project  in the Golden Triangle of British Columbia. Exploratory drill hole SK-22-1122 intersected high tenor gold and silver mineralization averaging 20.43 g/t gold and  175.2 g/t silver over 24m, which also included .5m interval of 80.2 g/t gold and 2,790 g/t silver. The company says this drill hole has expanded and predictably validated the geometry of the evolving 21A West Zone discovered in late 2021 and is situated 15 metres vertically below previously reported 2022 drill hole SK-22-1093, which intersected 47.50 g/t Au, 73.4 g/t Ag (48.48 g/t AuEq) over 12.12 m. The 21A West Zone remains open for expansion both down-dip and along strike. Occurring within the intended open-pit at a vertical depth of only 60 metres below surface, this area of the resource was never populated by previous drilling and as such was previously modelled as barren waste rock. Skeena Resources trades on the TSX and the NYSE with SKE. News Release

Revival Gold says they have concluded their 2022 drill program at the Beartrack-Arnett project.  Revival Gold completed 22 core holes for a total of about 5,500 meters. Exploration activities will now turn to the review and interpretation of drilling results, updating the Beartrack-Arnett geological and mineral resource models in support of the Company’s planned 2023 first phase heap leach Preliminary Feasibility Study and preparation of plans for future drilling. Revival Gold trades on the TSXV with RVG and on the OTCQX with RVLGF. News Release

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