Morning Briefing: Integra Resources See Highest Production Rate from Florida Canyon Mine Past 21 Years
Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Trevor Hall
Its Thursday, January 23rd.
Gold continued to show strength in its upward move yesterday, adding another 4/10ths of a percent as it approached its recent all-time high once again, closing the day at $2770/oz. It been a strong January for the metal thus far, adding about $150 back to its dollar price value, but also reaching some over-bought territory. The markets are seeing a little pullback this morning in precious metals, including in silver. The silver price underperformed yesterday and was down marginally. This morning, however, it seeing a decline of 2.3% to $30.66 at time of this report.
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.
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…..
Integra Resources published their fourth quarter and full year production results from its recently acquired Florida Canyon Mine in Nevada. Fourth quarter 2024 production from Florida Canyon was 21,278 gold ounces. Full year 2024 production was 72,229 gold ounces, representing the highest production from Florida Canyon in the past 21 years. The Company intends to release 2025 production and cost guidance in late February. The company also noted that by the end of 2024, it had a cash balance of $52M and has decided to implement a gold price protection program for this year, consisting of the purchase of over 37,000 gold ounces of put options at a strike price of $2,400/ounce. Production hedged by put options represents approximately 54% of the contemplated 2025 gold ounces sold at Florida Canyon as set out in the 2024 NI 43-101 technical report. (TSXV: ITR) (NYSE American: ITRG) News Release
ATEX Resources announced partial assay results from hole 23A this morning, which is the first hole from its phase V drill campaign at the VAleriano Copper-Gold project in Chile. Current assays returned 152m of 2.03% CuEq within a broader interval of 342m of 1.48% from a depth of 700m below the valley floor. This hole represents a 130-m extension of the high-grade breccia mineralization intersected in the previous campaign. Five diamond drill rigs are currently operational at Valeriano utilizing directional drilling. Two holes have now been completed totalling 3,922 metres of downhole depth from parent holes with 2,580 metres of navigational and core drilling. (TSXV: ATX) News Release
West Point Gold announced additional drill results from its work on the Tyro Main Zone on the Gold Chain Project in Arizona. Drill results this morning included 42.8m of 2.5 g/t Au, with a subinterval of 11.7m of 5.94 g/t Au. Other results included 6.9m of 4.3 g/t Au and 16m of 1.35 g/t. These holes were drilled to test the intersection of the Main Tyro and White Spar structures where mapping, trenching and drilling reveal a broad zone of quartz veining, silicification and hydrothermal breccia. The Company is preparing for the next phase of drilling at Tyro, expected to start in February 2025. (TSXV: WPG) (OTCQB: WPGCF) News Release
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