Morning Briefing: Heliostar Metals Drills 63m Grading 10.4 g/t Gold and 14.6m Grading 33.0 g/t Gold at Ana Paula
Welcome to Mining Stock Daily. I’m Trevor Hall.
Today is Monday September 25th.
Last week gold was more or less flat versus and traded between $1935 per ounce and $1968, closing at $1945. The Mining Stock Journal noted that the uptrend in the price that began in mid-August continues to hold, as does the 200 day moving average. Silver diverged positively from gold and rose a little over 44 cents for the week. It was never in danger of getting pushed below $23 per ounce, which may be the new lower bound for poor man's gold. The Mining Stock Journal said that the gold silver ratio is in a downtrend that began in March and has turned lower again after bouncing for most of this month. The newsletter added that silver's trading action looks potentially explosive to the upside. The mining stocks were lower last week, with the GDX losing 3% for the week. However, the miners for the most part continue to trend higher in a choppy uptrend that began in late September 2022. It added that the sentiment has sunk near the bottom of the Mariana Trench, particularly for the junior micro-cap development stocks, which suggests that the sector could be poised for a nice move higher at any time.
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… Arizona Sonoran Copper.
Western Copper and Gold is focused on developing the world-class Casino project in Canada's Yukon Territory. The Casino project consists of an impressive 11 billion pounds of copper and 21 million ounces of gold in an overall resource. Western Copper and Gold trades on the TSX and the NYSE American with WRN. Be sure to follow the company via their website, www.westerncopperandgold.com.
And here’s what you need to know this morning….
Patriot Battery Metals extended the spodumene CV5 pegmatite an additional 650m along strike to the west at its Corvette Property in Quebec. It has now been traced continuously by drilling over a lateral distance of at least 4.35km. 53 holes for 15,614m, have been completed through September 18 at Corvette and seven drill rigs are active at CV5, CV13, and CV9. CV5 hosts an inferred resource of 109.2 Mt at 1.42% Li2O inferred. Patriot Battery Metals (TSXV: PMET) (ASX: PMT) (OTCQX: PMETF) news release
Heliostar Metals reported additional drill results from the Ana Paula Project in Mexico , with two infill holes that complete the drilling for inclusion in the resource update planned for November. Highlight included 35.9m @ 8.17 (g/t) gold and 83.6m @ 8.57 g/t in hole 306. The company said twelve of the thirteen holes targeting the High Grade Panel delivered intercepts with better grades or widths than the existing resource model, which is encouraging for the coming resource update. Heliostar Metals (TSXV: HSTR) (OTCQX: HSTXF) news release
C3 Metals received assays for the final 130.7m of drill hole 2 at Bellas Gate in Jamaica. It intersected 390.7m at 0.37% copper and 0.19 g/t gold for 0.50% CuEq from 64.1m, including 279.5m at 0.60% CuEq. Ongoing drilling will continue evaluating a cluster of discrete porphyry copper-gold targets. C3 Metals (TSXV: CCCM) (OTCQB: CUAUF) news release news release
Asante Gold announced results from its ongoing exploration drilling at the Aboduabo prospect at the Bibiani – Chirano mines corridor in Ghana. The latest results intersected high-grade shoot extensions in multiple zones down-plunge of the defined +1km strike length of Aboduabo mineralization. Asante believes the deposit has potential to develop into long life open pit mine and future underground mine. To date, 88 holes for 21,000m have been completed. Highlights included 20.5m @ 8.73 g/t Au in hole 3406D. Asante Gold (CSE:ASE U.S.OTC:ASGOF) news release
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