Morning Briefing: Kingfisher Drill Results from Goldrange

Welcome to Mining Stock Daily. I’m Trevor Hall.

Today is Thursday October 13th. 

Yesterday both gold and silver were somewhat volatile, particularly during NYSE trading hours, when the paper gold and silver operators rule the playground. Gold ran up $1681 early in the morning but was smacked down to $1674 as soon as India and Asia closed for the day. The yellow dog received another price-swat right after the slightly worse than expected PPI was released, but managed to bounce back up to as high as $1685 before pulling back to settle at $1680. Silver traded up to $19.30 overnight but started fading right after the London a.m. price fix. Paper silver then was given a 31 cent beat-down after the PPI report was released, falling all the way down to $18.35 before rebounding to $19.10 and settling at $19. The Mining Stock Journal noted that the fact that gold and silver were pushed lower after a somewhat worse than expected PPI report was released illustrates the degree to which the paper markets are manipulated in the derivatives market. The purpose of course is to prevent rising gold and silver prices from signaling to the market that Fed's monetary policies are highly flawed in terms of still being too easy. Despite the volatile action and price decline in the metals, the mining stocks were somewhat perky, as GDX closed up nearly 1%. A handful of silver miners popped 3-4%. The Mining Stock Journal is still of the belief that bull move in the sector is percolating.

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…Western Copper and Gold. 

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….

Kingfisher Metals reported initial drill results from the 100% owned 511 km2 Goldrange Project this morning. Drilling returned 2.86 g/t Au over 40 m including 5.56 g/t Au over 9 m, 5.05 g/t Au over 6 m, and 19.91 g/t Au over 1 m in hole GR22-018 at the Cloud Drifter trend. Other results included 58.88 g/t Au over 1 m in hole GR22-019, 19.54 g/t Au over 2 m in hole GR22-016, 10.39 g/t Au over 1 m in hole GR22-017, and 9.55 g/t Au over 2 m. The 2022 drill program at the Goldrange Project was designed to follow up on the initial 2021 program as well as test a much broader area across the Cloud Drifter Trend. Ongoing drilling is focused on testing structural corridors across the trend. Remaining drill hole results from the Cloud Drifter and Langara zones are pending. Kingfisher Metals trades on the TSXV with KFR and on the OTCQB with KGFMF. News Release

Solaris Resources reported assay results from the first series of holes following up on the discovery of Warintza West within its Warintza Project  in southeastern Ecuador. Warintza West is one of four discoveries made to date within the Warintza porphyry cluster and is located 1km west of the Warintza Central Mineral Resource Estimate. Results reported today included 912m of 0.41% CuEq¹ from near surface, 246m of 0.47% CuEq¹ from near surface, and  732m of 0.32% CuEq¹ from near surface. These results confirm the interpretation of a broad porphyry deposit that remains open in all directions, with assays pending from a series of three additional holes testing the zone further to the west, east and south. More step-out drilling is planned. Solaris Resources trade on the TSX with SLS and on the OTCQB with SLSSF. News Release

Baroyeca Gold and Silver shared the results of the remaining assays from its Phase 2 drilling program in the western extension of La Ye mineralized corridor at its Atocha silver and gold project in Tolima, Colombia. Results included .5m of 210.33 g/t silver equivalent, .4m of 986.58 g/t silver equivalent and 1 m of 316.7 g/t silver equivalent. Overall, the Company drilled approximately 1,400m in 12 holes. Baroyeca Gold and Silver trades on the TSXV with BGS. News Release

Integra Resources provided an update on various permitting activities that have been underway since 2020 in anticipation of the filing of the Mining Plan of Operations in Q4 2023. To date, the Company has completed more than 80% of the required fieldwork for the baseline studies associated with the proposed mine features at DeLamar. These baseline studies have been ongoing since 2020 and the remaining 20% of required study will be finished during the 2023 field season. The Company has also commenced an 11,000 m drill program at DeLamar using a sonic drill rig. The drill program will test approximately 60 million tonnes (“Mt”) of low-grade gold-silver mineralized material that was stockpiled and/or used as backfill by previous mine operators at DeLamar from the 1970s to the late 1990s. The estimated cut-off grade used by previous operators ranged from 0.80 g/t AuEq and 0.90 g/t AuEq, a cut-off significantly above that used in the Company’s Pre-feasibility Study and suggesting that a significant amount of the 60 Mt of stockpiled material could potentially be amenable to heap leaching. Integra Resources trades on the TSXV with ITR and on the NYSE American with ITRG. News Release

Electra Battery Materials announced the start of commissioning of its black mass recycling demonstration plant at its battery materials park located north of Toronto following the successful installation of material feed handling and lime delivery systems. These are two key circuits in Electra's hydrometallurgical process designed to recycle end of life lithium-ion battery materials. Under the parameters of the black mass demonstration, Electra plans to process up to 75 tonnes of material in a batch mode. Using its lab tested process, Electra anticipates the recovery of high value elements found in lithium-ion batteries, including nickel, cobalt, lithium, manganese, copper, and graphite. Electra also anticipates the full commissioning of all equipment and circuits of the black mass recycling demonstration in the fall of 2022 with the full commissioning of the cobalt sulfate refinery expected in the spring of 2023. The Company will provide regular updates on the status of its demonstration plant and commissioning efforts. Electra trades on the Nasdaq and the TSXV with ELBM. News Release

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