Morning Briefing: Hercules Metals Returns 300m of .7% CuEq from Hole 20
Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Trevor Hall
Its Wednesday, January 15th.
Precious metals were little changed and slight green on the day yesterday following US data showing December wholesale prices rising 0.2% year over year, which was better than expected. Goods of note which did see rises in the dataset included a 10% rise in gasoline and other increases in fruits, fuels, residential electric power and meats.
Gold closed the day on its front month about exactly where it opened at $2,682, that was up 1/10th of a percent from Monday. Silver also squeeked out a 1/10th gain to close the day at $30.35 per ounce.
All eyes are on CPI this morning, which also came in better than expected. Markets are rising meaningfully, including gold which is currently up over 1% this morning.
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…Calibre Mining.
Calibre is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Newfoundland & Labrador in Canada, Nevada and Washington in the USA, and Nicaragua. With a strong balance sheet, a proven management team, strong operating cash flow, accretive development projects and district-scale exploration opportunities Calibre will unlock significant value. https://www.calibremining.com/
And Here’s what you need to know this morning…..
Hercules Metals announced new step-out drill results from its Hercules Propert in western Idaho. Hole 20 was a 330m step-out and intersected 300m of .7% CuEq beginning at a depth of 70m below surface. This is the shallowest that porphyry mineralization has been drilled on the Property. A separate step-out hole, HER-24-19, was collared 530m southwest of HER-24-20, and intersected 149m of 0.78% CuEq, including 43m of 1.22% CuEq. Hercules management says they are considering the largest geophysical survey ever conducted at the Property. Such a survey could involve working with a co-operative group of neighbouring companies which would increase the overall coverage and depth of penetration. (TSXV: BIG) (OTCQB: BADEF) News Release
Trilogy Metals announced results for its Preliminary Economic Assessment for the Bornite copper project in the Ambler Mining district of Alaska. The project is a joint venture equally owned by Trilogy and South32. The PEA highlights 1.9 billion pounds of copper over a 17-year mine life with potential to extend mine activity for the Upper Kobuk Mineral Projects to over 30 years. It hosts a pre-tax NPV of $552M and an IRR of 23.6%. Initial capital expenditure is $503.8 million and sustaining capital is $363.1 million for total estimated capital expenditures of $866.9 million. The Bornite PEA is based on a 6,000 tonne-per-day underground mining operation with conventional milling and flotation process that results in the production of copper concentrate. (TSX: TMQ) (NYSE American: TMQ) News Release
Prime Mining reported expansion drill results at the new “Tahonitas Footwall” discovery from the Company’s Los Reyes Project in Mexico. The company intersected new continuous veins at Tahonitas in the Z-T Trend with results of 5.67 g/t AuEq over 4.2m and 4.93 g/t AuEq over 3.3m. The southern-most holes are over 650 metres south of the MRE pit crest and approximately 250 metres along strike from the southern-most stope. All intercepts in these highlight drill holes are less than 200 metres from surface and located south along strike and outside the resource pit crest, with potential for either open pit or underground extraction. (TSX: PRYM) (OTCQX: PRMNF) News Release
Vizsla Copper reported results from a completed induced polarization survey across parts of the Poplar South Target at the Poplar project in British Columbia. New chargeability and resistivity data support the strong prospectivity for porphyry-related mineralization at Poplar South. Key chargeability and resistivity anomalies are coincident with other geophysical and geochemical anomalies and represent high-priority drill targets. The Company is currently planning a Phase 1 drill program to commence in the first half of 2025 to systematically evaluate the porphyry potential of the target area. (TSXV: VCU) (OTCQB: VCUFF) News Release
Avino Silver and Gold says underground development at its 100%-owned La Preciosa Property has commenced following receipt of all required permits for mining operations. With many of the necessary outbuildings completed, Avino has proactively prepared its mining fleet and is now advancing the development of a 350-metre mine access and haulage decline. This is designed to intercept the high-grade La Gloria and Abundancia veins, aligning with the Company's mine development plan. (TSX:ASM) (NYSE American:ASM) News Release
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