Morning Briefing: Fortuna Mining Publish Consolidated Resources from their Portfolio of Assets
Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Trevor Hall.
It's Wednesday, March 12th.
Precious metals rebounded yesterday as the financial media now calls reciprocal tariffs between US and Canada a full on trade war. Gold took everything back it lost from Monday and finished yesterday up more than 7/10ths of a percent and closing at $2,920. Silver acted in a similar manner and returned 1.9% for a close of $33.14/oz. The chart of silver remains productive and will need to make a new higher high to regain a healthy upward trend from here. And despite growth concerns and recession fears, copper remains resilient, currently trading at $4.86 per pound with tighter inventories, rampant tariffs and a weaker dollar to help boost the doctor.
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…Calibre Mining
Calibre is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Newfoundland & Labrador in Canada, Nevada and Washington in the USA, and Nicaragua. The company recently announced the merger with Equinox Gold to become one of the world’s leading gold producers in the Americas. Learn more about the company and the merger at https://www.calibremining.com/
And here’s what you need to know this morning…..
Fortuna Mining has updated its mineral reserve and resource estimates for its four operating mines as well as the Arizaro Project located at the Lindero Mine in Salta, Argentina, the Diamba Sud Gold Project in Senegal and the San Jose Mine in Mexico. Its Consolidated Inferred Mineral Resources are reported containing 2.2 M gold equivalent ounces (GEOs) representing a year-over-year increase of 29 percent. Consolidated Measured and Indicated Resources exclusive of Mineral Reserves are reported containing 1.5 M GEOs representing a year-over-year increase of 36 percent. Consolidated Proven and Probable Mineral Reserves are reported containing 2.7 M gold GEOs representing a year-over-year decrease of 11 percent. (NYSE: FSM | TSX: FVI) News Release
Outcrop Silver and Gold says they have made a discovery of high-grade mineralization at its Santa Ana silver project in Colombia after making large step-outs to the south, along the 17 kilometre fully permitted vein system corridor. Hole 444 did intercept 1.92m of 586 g/t AgEq at the Mangos SE vein. Hole 442 returned 2.36 m of 404 g/t AgEq at the Los Mangos vein. The Los Mangos is 8 kilometres south of the resource and 4 kilometres south of the recent La Ye discovery. Los Mangos has emerged as a key target for future resource expansion within the Santa Ana project with strong silver-equivalent grades, strike continuity, and geological evidence of structural complexity. Continued exploration will focus on extending known mineralization along strike and testing depth potential further to define the system's scale. (TSXV: OCG) (OTCQX: OCGSF) News Release
Sticking with Colombia, Libero Copper and Gold says hole 46 is underway and is the third hole of its 14,000-metre resource expansion drilling program at the Mocoa porphyry copper-molybdenum deposit in Putumayo, Colombia. The hole is designed to step-out and test mineralization beyond previously drilled areas. Late last month, the company published the results from hole 45, which returned 350m of .7% CuEq and 101m of .76%. This new hole will evaluate the continuity of copper and molybdenum mineralization within areas previously modeled as "waste" in the current pit-constrained resource. (TSXV: LBC) (OTCQB: LBCMF) News Release
Canada Nickel announced additional exploration drill results from the Reid, Mann West and Midlothian properties. At Mann West, the company drilled their highest grade interval to date with .63% nickel over 4.5m within an entire core length of 452m of .27%. At Midlothian, results included 49m of .32% nickel, while at Reid infill and expansion drilling returned 722.7m of .24% nickel. The company says they will publish resources on the remaining 6 deposits within the Timmins Nickel District, bringing the total to eight regional resources. (TSXV: CNC) (OTCQX: CNIKF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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