Morning Briefing: GFG Resources Hits High-Grade at the Aljo Mine Target
Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Trevor Hall.
It's Monday, March 17th.
Happy St. Patricks day everyone and thanks for joining us. It was a momentous week for gold last week as both spot price and the front month reached the $3000 /oz mark, with continued concern and uncertainty in the shakeup of global trade deals. US Treasury Secretary Scott Bessent was on a media tour this weekend and said there would be no guarantees about the country foregoing a recession. Silver made a move towards the $35 mark but was rejected at resistance where it settled just over $34/oz. However, the silver trend remains a traders friend, as it continues to make higher highs on the chart. A similar constructive chart pattern also remains in tact for copper as it made a high of $4.94 / lb on Friday.
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.
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And here’s what you need to know this morning…..
GFG Resources reported assay results from the Aljo Mine Target on the Goldarm Property in the Timmins gold district of Ontario. In late 2024 and early 2025, the Company completed a total of 12 holes (2,600 m) focused on testing the downdip and lateral extensions at Aljo and completed step-out holes that tested the North West target. Drilling was successful in expanding known mineralized zones and identifying new zones of gold mineralization which host significant visible gold. Results reported today included 32.7 g/t Au over .5m and 6.62 g/t over 11.2m in hole 20, 24.2 g/t over .5m in hole 17, and 4.13 g/t over 5.2m in hole 18. The company is awaiting results from an additional 9 holes. (TSXV: GFG) (OTCQB: GFGSF) News Release
Founders Metals announce more assay results this morning, these coming from Van Gogh, which is the most recent discovery made at the Antino Gold Project in Suriname. The highlight hole returned 72m of 2.29 g/t Au and extend gold mineralization to approximately 200m of vertical depth from surface. Van Gogh is 2.0 km from Lawa and 3.8 km from Da Vinci, and forms part of an emerging multi-kilometre northwest oriented gold trend extending through the Maria Geralda target to Lower Antino, and sub-parallel to the main Antino Shear Zone spanning 15+ km from Upper Antino to Da Vinci. The company also noted that a 5th diamond drill rig will be operational on the project by mid-year. (TSXV: FDR) (OTCQX: FDMIF) News Release
Kenorland Minerals has commenced a maiden diamond drill program at the Hunter Project in the southern Abitibi greenstone belt of Quebec. The project is held under an option agreement with Centerra Gold. The program will include up to 4,300m of diamond drilling as an initial test of the targets identified through systematic exploration carried out since 2021. Two phases of drill-for-till sonic drilling in 2022 and 2024 identified a large multi-element geochemical anomaly, both in glacial till and bedrock sampling over a 3.5 by 2.0 kilometre footprint, where bedrock alteration remains fully concealed beneath thick overburden. Kenorland remains operator of the Project, with drilling activities expected to conclude in early April. (TSXV: KLD) (OTCQX: KLDCF) News Release
Orezone Gold says Nioko Resources has subscribed to an $8.8 million dollar private placement to maintain its 19.9% interest in the company. The Placement is being made on a non-brokered private placement basis with the Offering Price based on the Share price of C$0.82 from the Company’s recently completed bought deal offering. The Company intends to use the proceeds from the Placement to accelerate both the Stage II hard rock expansion and additional exploration at its Bomboré Gold Mine, as well as for working capital and general corporate purposes. (TSX: ORE, OTCQX: ORZCF) News Release
Snowline Gold has agreed to a bought deal financing of 1.8m flow-through shares of the company for gross proceeds of $20M. Snowline says the financing will free up existing capital for the rapid, efficient advancement of important work on the Valley deposit, including engineering and environmental studies. (TSXV: SGD) (OTC: SNWGF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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