Morning Briefing: Heliostar Metals announces drill results from the Ana Paula project
Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Ian Wagner
Its Monday, December 2nd.
Gold rose to end the week last week, with a last trade at 2681 after a COMEX close of 2657 earlier in the day. Overall on the week gold was down nearly $40. Silver ended the week higher after settling at 30.68. Silver was down on the week with a last trade at 31.10. In early morning trading today, Gold is steady near 2670 and silver is back up to the $31 level after an overnight dip.
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
Vizsla Silver is focused on becoming one of the world’s largest single-asset silver producers through the exploration and development of the 100% owned Panuco-Copala silver-gold district in Sinaloa, Mexico. The company consolidated this historic district in 2019 and has now completed over 375,000 meters of drilling. The company has the world's largest, undeveloped high-grade silver resource. Learn more at https://vizslasilvercorp.com/
And Here’s what you need to know this morning…..
Heliostar Metals announced drill results from the Ana Paula project in Guerrero, Mexico. Two holes were announced where the focus of the holes reported today was to expand the High Grade Panel.
Hole AP-24-317
87.8 metres @ 16.0 grams per tonne (g/t) gold including
16.1 metres @ 71.8 g/t gold
Hole AP-24-315
125.9 metres @ 4.02 g/t gold including
23.6 metres @ 12.5 g/t gold
The Company is drilling 2,600 metres in phase one of the program and will follow-up the best results with a second phase of 2,400 metres. Heliostar trades on the (TSXV: HSTR) (OTCQX: HSTXF) - News Release
Northern Star Resources has agreed to take over rival De Grey Mining in an all-share deal. The pair of companies, which are two of Australia’s largest gold miners, have agreed on a $3.2bn US deal pitched at a 37% premium to the DeGray’s share price. De Grey shareholders would hold 20 per cent of the combined company. Northern Star currently operates the large Super Pit gold mine near Kalgoorlie in Western Australia and the deal will give Northern Star control over the promising Hemi prospect Pilbara which is expected to generate more than 500,000 ounces of gold a year in its first decade of operation. Northern Star trades on the ASX at NST.
Canterra Minerals announced new assays from the maiden drill program at its Buchans Project in the Central Newfoundland Mining District in Canada. Drill Highlights include:
Hole 3533 returned 1.53% copper equivalent over 105.00 m from 68 m below surface
Hole 3532 returned 2.00% CuEq over 78.00 m from surface
Canterra's Buchans Project hosts the past producing Buchans Mine as well as the undeveloped Lundberg open pit resource. Lundberg is one of seven undeveloped critical mineral deposits held by Canterra within the Central Newfoundland Mining District. Canterra's deposits represent Newfoundland's second-largest undeveloped critical minerals inventory. Canterra trades on the (TSXV: CTM) (OTCQB: CTMCF) News Release
Minera Alamos issued it’s Q3 operations update and select financial highlights. The third quarter of 2024 represented the first full quarter of the restart in mining operations at the Santana gold project's Nicho Main Zone. The focus of the new mine plan was primarily to open up the areas of operation at the new pit so that mining and stacking activities can be increased at the Santana mine. In the Q3 period this led to 3,800 ounces of mined gold being stacked on the leach pad from the new Nicho Main Zone pit, surpassing the total mined and stacked gold for the entire 2023 year. The Company anticipates beginning the Phase 2 leach pad expansion at Santana towards the end of Q4 which will increase the area available for site leaching operations by 40%. In August, the Company made the final payment as part of its Cerro de Oro gold project acquisition. With the US$1,000,000 cash payment and 500,000 share issuance having been made, the Company is now the 100% owner of the royalty-free Cerro de Oro gold project which is currently being permitted for construction. On October 28, 2024, the Company announced that it has entered into a definitive agreement whereby the Company will acquire all the issued and outstanding shares of Sabre Gold Mines Corp. Minera Alamos trades on the (TSXV: MAI) News Release
FPX Nickel has authorized a Normal Course Issuer Bid to purchase for cancellation, up to 5,000,000 common shares of the Company, representing approximately 2% of the current public float of the Common Shares. In a statement, the company said: “With a working capital position of $36.7 million, FPX believes it is in a very strong position to drive continued advancement at our flagship Baptiste Nickel Project and to return capital to shareholders. FPX Nickel trades on the (TSXV: FPX) (OTCQB: FPOCF) News Release
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