Morning Briefing: Goldshore Resources Intersects Shallow Mineralization at Moss
Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Ian Wagner and I am very happy to be back with you this morning.
It's Thursday, March 20th.
Another day, another all-time high for gold. The yellow metal was steady yesterday until the Federal Reserve announced that they would hold interest rates steady amid ongoing economic uncertainty. After the announcement, precious metals rose, with April gold reaching a high of $3060, up $20 from Tuesday’s settlement of 3040. Silver had a volatile day, trading as high as 34.77 and as low as 34.11 before settling at $34.2
In early trading this morning, silver is down below the 34-handle and gold is steady in the 30s.
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…Integra Resources
Integra is a growing precious metals producer in the Great Basin of the Western United States. Integra is focused on demonstrating profitability and operational excellence at its principal operating asset, the Florida Canyon Mine, located in Nevada. In addition, Integra is committed to advancing its flagship development-stage heap leach projects: the past producing DeLamar Project located in southwestern Idaho, and the Nevada North Project located in western Nevada. Learn more about the business and their high industry standards over at integraresources.com
And here’s what you need to know this morning…..
Goldshore Resources Intersects Shallow Mineralization at Moss with nearly 26m of 1.15 g/t Au Including 3m of 6.8 g/t Au at 85m Depth Below Surface. The company announced its latest assay results from its ongoing 15,000-meter drill program and results from the Southwest Zone of the Moss Gold Project in Northwest Ontario, Canada.
Results from five drill holes continued to extend mineralized shears toward surface at the Southwest Zone with best intercepts of:
25.0m of 0.68 g/t Au from 133m in hole 25-140
25.5m of 0.71 g/t Au from 270.5m in hole 25-142
5.15m of 2.68g/t Au from 135.65m in hole 25-147
Additionally, two holes drilled through previously defined lower grade material of the Southwest Zone have intercepted higher than anticipated grades in comparison to the current resource estiamte with intercepts of:
8.0m of 2.53 g/t Au from 125m in hole 25-142 and 33.9m of 0.83 g/t Au from 192m
Goldshore trades on the TSXV: GSHR & OTCQB: GSHRF - News Release
Independence Gold Intersects Significant Gold and Silver Mineralization in the Johnny Vein System at the 3Ts Project, BC. The company reported significant drill results from the Johnny and Ted-Mint Vein Systems, further defining a robust system of gold-silver-bearing veins. Recent drilling has intersected some of the best mineralized zones to date within the Johnny Vein System, highlighting the potential to contribute to the upcoming resource update expected in the second quarter of 2025. Highlights include:
Johnny Vein: Drill hole 25-05 returned 77 metres grading 4 g/t gold and 40 g/t silver, with an estimated true width of approximately 32 m.
Ted-Mint Vein: Drill hole 24-28 returned 29m grading 5.5g/t gold and 86g/t silver, with an estimated true width of 15.00 metres.
Both vein systems remain open along strike and at depth and ongoing drilling continues to test these veins and other mineralized structures, with assay results pending.
Independence Gold trades on the TSXV: IGO & OTCQB: IEGCF - News Release
Several financing deals were announced. Arras Minerals announced that it has entered into an agreement to sell, up to 15m common shares at a price of C$0.85 per Share for aggregate gross proceeds of up to C$13m (the “Brokered Offering”). In addition, the Company intends to complete a concurrent non-brokered private placement of up to 2.3M Shares for additional gross proceeds of up to C$2M. TSX-V: ARK, OTCQB: ARRKF - News Release
GoviEx Uranium announced that it is conducting a private placement financing of up to 150m units of the Company at a price of $0.05 per Unit for aggregate gross proceeds of up to $7.5 million. Each Unit will be comprised of one Class A common share and one Common Share purchase warrant. The warrant entitles the holder to purchase one additional Common Share at the price of $0.07 for a period of 24 months following the closing date of the Offering. GoviEx trades on the (TSXV: GXU) (OTCQB: GVXXF). News Release
And Cartier Resources announced it has initiated a private placement offering for up to 21m units issued on a charitable flow-through basis at $0.23 per unit alongside issuance of 17.6m “Hard Dollar” units at a price of $0.13, with each unit consisting of one common share and one purchase warrant. The company expects aggregate gross proceeds of up to $7.3m. Cartier trades on the TSX-V: ECR - News Release
Carolina Rush announced the results of its maiden Mineral Resource Estimate for the Brewer Gold-Copper Project in Chesterfield County, South Carolina. The Brewer In Situ Mineral Resource hosts an indicated: 202,000 oz Au and 16.8Mlbs Cu @ 1.04 g/t Au and 0.13% Cu. In the Inferred category, the resource hosts 210,000 oz Au and 7.9Mlbs Cu @ 0.84 g/t Au and 0.06% Cu. Brewer Backfill Mineral Resource hosts an Inferred: 139,000 oz Au and 9.7Mlbs Cu within 11.9Million tons @ 0.36 g/t Au and 0.03% Cu. The company notes that the Brewer mineral resource remains open for potential expansion in several directions. Carolina Rush trades on the TSXV: RUSH & OTCQB: PUCCF - News Release
Orezone announced operational and financial results for the fourth quarter and full year ended December 31, 2024, along with its 2025 guidance. Highlights include:
Q4-2024 gold production of 36,502 oz, a 37% increase from the previous quarter. Total year gold production of nearly 120-thousand oz, exceeding the mid-point of guidance.
AISC per oz sold of $1,273 for Q4-2024 and $1,447 for 2024.
Record revenue of $283.5M and an average realized price of $2,384 per oz in 2024.
For 2025, Stage 1 of hard rock expansion progress continues with first gold on track for Q4-2025.
Orezone trades on the TSX: ORE and OTCQX: ORZCF News Release
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That’s it for today everyone. Have a great day. Stay safe.
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