Morning Briefing: Integra Resources Drills 1.46 g/t AuEq over 134m
Welcome to Mining Stock Daily. I’m Trevor Hall.
Today is Thursday February 15th.
Yesterday gold was drifting sideways around $2,006 - April gold basis - when it was banged hard going into the close of Asian physical market trading briefly dipping below $2,000 and bouncing before enduring another bout of paper market selling that took the April paper gold contract to $1,997. The yellow dog responded by bouncing back over $2,000 to settle in the afternoon at $2,005. Silver had a different journey. Poor man's gold drifted below $22 briefly early in the morning but then started to rocket higher just before the Comex opened, trading as high as $22.50 - March basis - before settling a bit lower at $22.46. The Mining Stock Journal noted that once again gold held $2,000 and silver held $22. It added that silver continues to feel perky relative to gold which could be an indicator that the decline in the precious metals sector is winding down. The mining stocks took their cue off of silver yesterday, with GDX rising nearly 0.50% and some individual stocks up more than 1%. This has been a frustrating period watching tech stocks shoot for the moon for the same reasons that the precious metals sector should be ramping higher. But the Mining Stock Journal believes that a big move is just around the corner.
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… Fireweed Metals.
Fireweed Metals is advancing 3 different projects within the Yukon and Northwest Territories, including the flagship Macmillan Pass Project, a large zinc-lead-silver deposit and the Mactung Project, one of the largest and highest-grade tungsten deposits in the world. Fireweed plans to advance these projects through exploration, resource definition, metallurgy, engineering, economic studies and collaboration with indigenous people on the path to production. For more information please visit fireweedmetals.com.
And here’s what you need to know this morning….
Liberty Gold has updated its Mineral Resource Estimate for the Black Pine gold project in Idaho. The Resource is reported at a cut-off grade of 0.2 grams per tonne gold and consists of Indicated resources of 3,206,000 oz Au at an average grade of 0.49 g/t Au and totalling 203.8 million tonnes and Inferred resources of 325,000 oz Au at an average grade of 0.42 g/t Au and totalling 24.1 Mt. The updated MRE represents an increase of 593,000 Indicated gold ounces from the 2023 estimate. The company is on track to publish its pre-feasibility study for the third quarter of this year. (TSX: LGD; OTCQX: LGDTF) News Release
GFG Resources reported final gold assay results from the recently completed 2023 Phase 2 drill program at its Goldarm Project, located 40 kilometres east of Timmins, Ontario. Today’s results come from the Aljo Mine Target and this is the second drill program completed on the Aljo target. Results today included broad zones of anomalous gold from surface to approximately 265 m downhole in mafic volcanics below the Aljo Mine workings along with high-grade zones with visible gold including 3.65 grams of gold per tonne over 6.3 metres including 18.40 g/t Au over 1.1 m from 125.7 m downhole; and 13.35 grams g/t Au over 3.6 m, including 32.94 g/t Au over 1.4 m from 350.5 m downhole. This section was from a new footwall zone intersected near the bottom of the hole. The company expects drilling to resume this quarter. (TSXV: GFG) (OTCQB: GFGSF) News Release
Integra Resources reported its second set of drill results from the 2023 highwall geotechnical and metallurgical drill program at the DeLamar Project in Idaho. Highlights from today’s batch of results included 1.46 g/t AuEq over 134m with a 1.5m interval of 103.98 g/t AuEq coming from Florida Mountain. Other results included 2.24 g/t AuEq over 50m at DeLamar. The results from this drill program will be used to complete a Feasibility Study at DeLamar in the future and to support on-going permitting work at the Project. (TSXV: ITR) (NYSE American: ITRG) News Release
Relevant Gold announced gold assay results from its first drill program on its Heavy Hand Target within the Lewiston Project in Wyoming. Drilling intersected shear-hosted gold mineralization in 10 of 11 drill holes, cutting multiple near-vertical shears across a 500 m wide corridor, 600 m along strike, and to vertical depths of 225 m. Results included 10m of .35 g/t Au and .5m of 1.9 g/t Au. The company says these results give the company a second district-scale, Abitibi-like discovery opportunity and we have another 10 targets in the pipeline ready to advance across our portfolio. (TSXV:RGC) (OTCQB:RGCCF) News Release
The Mining Stock Daily morning briefing is produced by Clear Commodity Network and Investment Research Dynamic’s Mining Stock Journal. It is distributed throughout the world through your podcast network of choice, and by our friends at the Junior Mining Network.
The information presented should not be considered investment advice. Mining stock daily and its affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein. Please do your own research or speak with a licensed financial representative before making any investment decisions.