Morning Briefing: Kingfisher RAB Results from Goldrange
Welcome to Mining Stock Daily. I’m Trevor Hall. And I’m Paul Harris.
Today is Wednesday November 9th.
The precious metals put in another stellar performance Tuesday. Gold shot up from $1668 to as high as $1720 before fading a bit to settle at $1715. It was the first time gold closed above $1700 since early October. Silver ran from $20.60 to as high as $21.71 before fading to settle at $21.42. It was the highest close for silver since late June. The Mining Stock Journal said that gold started to gain momentum right before the Comex opened but that it could not find any specific news triggers. To be sure the dollar was lower on the day but not enough to explain the entire move higher in both gold and silver. It added that part of the move was probably driven by some hedge fund short-covering. The news letter also pointed out that the carnage in the crypto space, particularly Bitcoin, may have ushered some fresh capital into nature's true wealth preservation safe-haven asset. The mining stocks picked up on the lead set by gold and silver and soared higher, with GDX up 6%. Many individual stocks were up considerably more on a percentage basis. While the Mining Stock Journal continues to regard the recent move higher in the precious metals sector with caution, it suggested that this could be the start of a bona fide gold rush..
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 announced results of rotary air blast drilling and and surface geochemical and ground geophysical surveys at the Goldrange Project in British Columbia. This was the first ever drill program at the Day Trip Zone with the RAB drill rig. The initial 27 holes focused on a ~300 m by 200 m area at shallow depths of less than 78 m. Highlights of the results included 2.7 g/t gold over 4.6m and 2.1 g/t over 4.6m. Shallow gold intercepts are open laterally and at depth, with an overall dip in geometry toward the west where 2022 rock sampling returned grades up to 49.8 g/t Au and extended the geochemical footprint 1 km to the west. The Day Trip Zone covers a rounded mountain top approximately 5 km southeast of the Cloud Drifter Trend. Kingfisher Metals trades on the TSXV with KFR and on the OTCQB with KGFMF. News Release
Reunion Gold announced additional intercepts from its Oko West project, including two holes that significantly expand the high-grade mineralized envelope below known mineralized zones. Results included 1.58 gt gold over 77.2m, 2.23 g/t over 53.4m and 4.58 g/t over 22.45m. In the past few months, the Company has focused on infill drilling to a spacing required for resource estimation, expansion of the known mineralized footprint both at depth and along strike, and continued exploration work to the south of the Kairuni zone on blocks 5 and 6. Two more diamond drill rigs, supplied by Major Drilling, have been added to the resource definition drilling program. Reunion Gold trades on the TSXV with RGD and on the OTCQB with RGDFF. News Release
Mantaro Precious Metals says they have the best diamond drill hole results to date with the intersection of multiple zones in hole 5 at the Golden Hill Property in Bolivia. The hole returned 5m of 7.57 g/t gold, 3.4m of 8.27 g/t and 14m of 3.57 g/t gold. Full assays are pending from 12 of 21 diamond drill holes at the Golden Hill Property across the La Escarcha, Gabby, Westhill and Brownfields targets. Mantaro Precious Metals trades on the TSXV with MNTR and on the OTCQB with MSLVF. News Release
Timberline Resources reported more drill results from the 2022 drilling program at its Eureka Project in Nevada. 5 holes were reported today with highlights of 2.64 g/t gold over 16.8m and 1.83 g/t gold over 6.1m. The company says these holes confirm the Calrin-type gold system continues to the north of a major fault zone bounding the north of the Water Well Zone. This also confirms silver-lead-zinc mineralization related to granitic intrusions (carbonate replacement deposits or "CRD" type) in the north Lookout - Water Well Zone area. Timberline Resources trades on the TSXV with TBR and on the OTCQB with TLRS. News Release
Surge Battery Metals announced drilling has commenced at the Hard Nickel 4 Project in central British Columbia. Three diamond drill holes are planned for a total of 900 meters of coring; at the time of writing hole 1 has been completed to a total depth of 300 meters. The compan says preliminary analysis of core from HN4-22-01 indicates drilling has successfully intersected strongly serpentine altered peridotite exhibiting strong magnetic response and elevated nickel as indicated by portable XRF. Surge Battery Metals trades on the TSXV with NILI and on the OTC with NILIF. News Release
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