Morning Briefing: Heliostar Provides Production Guidance, FPX Expands their Mich Property
Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Trevor Hall.
Its Thursday, November 14th.
Gold extended its losses for the 4th straight day in a row on Wednesday as the US Dollar and bond yields rose. Investors and the market are also beginning to speculate on few interest rate cuts from the Federal Reserve in 2025. Gold attempted a rally yesterday, and tested $2624, before aggressively getting the ladder pushed over and closing at $2585, down 3-quarters of a percent. Silver also attempted a similar rally but this was also short lived. It closed at 30.62 per ounce. It appears Silver is about to test its 200 day moving average north of $28. Copper’s steep decline is also continuing, as the Doc touched down, tested and bounced off of $4/lb.
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… Arizona Sonoran Copper Company
Arizona Sonoran Copper Company (ASCU:TSX) is focused on developing its brownfield copper project on private land in Arizona. The Cactus Mine Project is located less than an hour's drive from the Phoenix International airport. Grid power and the Union Pacific Rail line situated at the base of the Cactus Project main road. With permitted water access, a streamlined permitting framework and infrastructure already in place, ASCU's Cactus Mine Project is a lower risk copper development project in the infrastructure-rich heartland of Arizona.For more information, please visit www.arizonasonoran.com.
And Here’s what you need to know this morning…..
FPX Nickel shared results of a grid-based rock sampling program at its Mich property in Yukon. Within the Central Zone, results ranged from below detection to 0.16% Davis Tube Recoverable nickel, with 44% of samples greater than 0.10% DTR nickel and 83% of samples greater than 0.06% DTR nickel, and total nickel values range from 0.19 to 0.31%. Rock sampling in previously unexplored areas has returned DTR nickel values of up to 0.11%, leading the Company to expand the Mich claims package from 87 km2 to 105 km2. Based on the expanded database of Mich rock sampling results, the grade profile of surface rock samples at Mich is now considered comparable with similar samples at FPX's flagship Baptiste Nickel Project in British Columbia. (TSXV: FPX) (OTCQB: FPOCF) News Release
Heliostar Metals has provided its gold production guidance for the last half of the 2024 calendar year. The company says they expect to produce 19,350 to 19,750 ounces of gold and up to 20,250 gold equivalent ounces. With completion of the acquisition of the San Agustin and La Colorado Mines, Heliostar expects their all-in sustaining costs to guide up to $1,750 per ounce of gold. The company says their immediate objectives of the operating projects are to expand annual production and expand the resources. (TSXV: HSTR) (OTCQX: HSTXF) News Release
Alpha Exploration published drill results from its program at the Kerkasha Project in Eritrea. Following a period of sample preparation delay, assays from 20 holes completed in July 2024 have now been received. From the Hill 52 Prospect, drilling returned 29m of 2.89 g/t gold and 4m of 7.12 g/t gold. At the Northeast Prospect, drilling hit 8m of 3.77 g/t gold. Initial interpretation by Alpha suggested that Hill 52, Central Area and Northeast Prospects were likely part of the same mineralized system creating an overall target area of at least 2km in cumulative strike and separated by a major N-S regional fault that appears to have laterally offset mineralization. (TSXV: ALEX) News Release
Dakota Gold announced results from fifteen drill holes from the ongoing infill and step-out drill program to expand the maiden resource at the Richmond Hill Gold Project. Today’s results are from the northeast corner of the Richmond Hill resource area known as Chism Gulch, where there has been limited drill testing by the Company. Results to date show areas of mineralization higher in grade or consistent with the results reported in the maiden resource. Assays reported today included 11.7m of 1.33 g/t Au, 33.8m of 1.03 g/t and 38.1m of 1.48 g/t Au. The resource remains open in all directions and has potential for improvement with additional drilling, metallurgical work to improve recoveries, and incorporation of silver in the resource. (NYSE American: DC) News Release
Myriad Uranium published further results of equivalent uranium grades from drilling at th eCopper Mountain Uranium Project in Wyoming. Spectral gamma ray logging continues to confirm high-grade uranium mineralisation at the Canning Deposit area and provides strong validation of the historic work done by Union Pacific at Canning and across the Project. Several intervals reported average grade greater than 1,000 ppm eU3O8 and peak grade reaching up to 3,870 ppm eU3O8 in borehole CAN0021. These results are still to be confirmed by chemical assay of core and reverse circulation samples being collected from the drilling. Copper Mountain Project Area includes the formerly-producing Arrowhead and Bonanza uranium mines, which are understood to have produced 0.50 Mlbs at 0.15% U3O8 and 0.78 Mlbs at 1.3% U3O8 respectively. (CSE: M) (OTCQB: MYRUF) News Release
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