Morning Briefing: Kodiak Copper Makes New Gold-Silver Discovery

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

Today is Monday December 5th. 

It looks like the path of least resistance for the precious metals sector may be up. Last week gold jumped $60 per ounce from start to finish, closing above its key 200 day moving average two days in a row. Silver soared $1.84 an ounce, or a stunning 8.6%. The Mining Stock Journal commented that if the S&P 500 rose 8.6% in a week, the anchors on CNBC would be doing naked cartwheels on air. Instead, no mention of silver's incredible performance in the mainstream media. The newsletter added that silver appears to be in break-out mode technically, albeit possibly overbought short-term. 

The mining stocks, taking their cue from the performance of gold and silver, also had a nice weekly gain, with the GDX up 5.1% for the week. The Mining Stock Journal said that several stocks, particularly silver producers and smaller gold producers jumped 10% or more on the week. The Mining Stock Journal said that the factors driving gold and silver higher include a sharp decline in the dollar, negative real interest rates which have become more negative as the yield curve inverts and flight-to-safety.

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….

Solaris Resources reported assay results from a series of holes aimed at growing the Northeast Extension of the ‘Indicative Starter Pit’ at its Warintza Project in southeastern Ecuador. Hole 67 was collared at the north-central limit of Warintza Central and drilled southwest into a partially open volume, returning 108m of 1.20% CuEq¹ within a broader interval of 604m of 0.51% CuEq¹ from near surface. Hole 68 was collared from the same platform as SLS-67 and drilled steeply to the northwest into an open volume, returning 72m of 1.00% CuEq¹ within a broader interval of 616m of 0.44% CuEq. Assays are pending from other holes from this platform aimed at further expanding resource growth in the Northeast Extension zone, with additional extension and step-out drilling underway. Solaris Resources trades on the TSX with SLS and on the OTCQB with SLSSF. News Release

Cordoba Minerals reported additional assays from an in-fill drilling program at its San Matias Copper-Gold-Silver Project in Cordoba, Colombia. Highlights included 150.6m grading 0.72% Copper, 0.27 g/t Gold and 5.27 g/t Silver for 0.86% Copper Equivalent in hole 133 within the Alacran Deposit. The company said drilling confirms a strong correlation with the Pre-Feasibility Study block model. A resource update will follow completion of the current drill program. Work on a Feasibility Study and Environmental Impact Assessment permitting continues. Cordoba Minerals trades on the TSXV under CDB and on the OTCQB under CDBMF. News release

Kodiak Copper reported a new gold-silver discovery from trenching called the “Beyer Zone”. A 2022 surface sample taken prior to trenching the Beyer Zone assayed 14.15 grams per tonne ("g/t") gold and 9.40 g/t silver. Trench sampling expanded this new surface gold-silver discovery to 3.02 g/t gold and 24.18 g/t silver over 12m, including 5.29 g/t gold and 27.70 g/t silver over 2m in north-south Trench. Trench sampling east-west also assayed 9.11 g/t gold and 24.00 g/t silver over 2m, with a parallel zone 8m west assaying 2.60 g/t gold and 10.10 g/t silver over 2m. The Beyer Zone is slated for more trenching and drilling in 2023. Kodiak Copper trades on the TSXV with KDK and on the OTCQB with KDKCF. News Release

Lithium Chile announced an updated resource at the Salar de Arizaro lithium project in Chile following the success of its second production well. This was drilled 3.6km from the initial production test well and encountered increased thickness in the brine reservoir. The second well added 1.2Mt of lithium carbonate equivalent resources in all categories, marking an 81% increase over the first well. The total Indicated resource is now 1.3Mt with 1.3Mt in Inferred resource for a total of 2.6Mt carbonate equivalent. A third production test well is expected to start drilling within a week as part of a 4-well test programme. Lithium Chile trades on the TSX under LITH and on the OTC under LTMCF. News release

Ascendant Resources reported assay results from an additional three holes drilled to support metallurgical variability testing in the North Zone of Venda Nova at the Lagoa Salgada VMS Project, in Portugal. As of November 29, Ascendant has completed 23 holes for 10,453m as part of the program to support the of a Feasibility Study in the March quarter of 2023. Highlights included 58m grading 20.51% Zinc Equivalent. Ascendant Resources trades on the TSX under ASND and on the OTCQB under ASDRF. News release

Endurance Gold also reported assay results from a recently completed diamond drilling program on its Reliance Gold Property in British columbia. Todays results included 7.31 grams per tonne gold over 11.6 m including 11.66 gpt gold over 6.2 metres from the 020 Target of the Eagle South Feeder Zone. The intersection is a 60 m step-out from hole 20 which previously reported 15.7 gpt gold over 24.8 m, and a 45 m step-out from hole RC22-062 which reported 6.64 gpt gold over 30.48 m. In 2022, a total of 38 diamond drill holes and 33 reverse circulation holes were completed with assays pending for 14 diamond drill holes. Endurance Gold trades on the TSXV with EDG and on the OTC with ENDGF. News Release

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