Morning Briefing: Li-FT Power Tees Up Pontax for 2025 Drilling
Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Trevor Hall.
It's Thursday, February 27th.
Gold held its position within that range we continue to talk about, as it looked once again to fall through the $2,900 level, but was met with intraday buying in the West and actually had a little bit of a green day as it settled its front month at $2,930, up 4/10ths of a percent. Silver had a much needed bounce yesterday and was up 1.4% settling at $32.27/oz. The Commodity Futures Trading Commission’s disaggregated Commitments of Traders report for the week ending Feb. 18 showed that money managers decreased their speculative gross long positions in Comex gold futures by 6,533 contracts. Speculators have been liquidating their long position over the last four weeks.
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…Integra Resources
Integra is a growing precious metals producer in the Great Basin of the Western United States. Integra is focused on demonstrating profitability and operational excellence at its principal operating asset, the Florida Canyon Mine, located in Nevada. In addition, Integra is committed to advancing its flagship development-stage heap leach projects: the past producing DeLamar Project located in southwestern Idaho, and the Nevada North Project located in western Nevada. Learn more about the business and their high industry standards over at integraresources.com
And here’s what you need to know this morning…..
DLP Resources reported results for its maiden Mineral Resource Estimate for the Aurora Project. The project now sits with a pit-constrained inferred resource of 1,050 Mt grading 0.20% copper, 0.05% molybdenum and 2.4 g/t silver (0.44% CuEq). This contains 4,650 million pounds of copper, 1,110 million pounds of molybdenum and 80 million ounces of silver. The mineralisation remains open in many directions for further expansion of the mineral resources. (TSXV: DLP) (OTCQB: DLPRF) News Release
Li-FT Power provided an update on the exploration work from the Pontax Lithium Project in the James Bay Region of Quebec. During the summers of 2023 and 2024 LIFT collected 336 till samples for indicator mineral analysis in areas with very little outcrop. The goal was to identify spodumene grains in the soil/till that would signal the presence of nearby spodumene pegmatites beneath the soil cover. The programs resulted in the definition of a 25 by 10 km area of high spodumene grain counts in glacial sediments. In 2025, 5,000 m of diamond drilling is planned to cross Corridors A, B and C in five drill fences. (TSXV: LIFT) (OTCQX: LIFFF) News Release
Talon Metals reported new drill results from its Boulderdash discovery in Michigan's Upper Peninsula. Most notably, drill hole 24BD0003 intercepted 110.3 meters of nickel-copper sulphide mineralization beginning at 9.54 meters depth assaying 0.57% Ni and 0.50% Cu (2.24% CuEq). Hole 8 returned 154.25m of 1.93% CuEq and another 2.35m of 10.47% CuEq. Boulderdash is situated just 8 miles northwest of the Eagle Nickel Mine, currently the only operating nickel mine in the U.S. (TSX: TLO) (OTC Pink: TLOFF) News Release
Foran Mining released initial results from its 2025 winter drill program at the Company's 100%-owned McIlvenna Bay Project in east-central Saskatchewan, confirming a significant down plunge expansion of the McIlvenna Bay Deposit at depth. The first drill hole of the winter program had the dual aim of testing the interpreted potential extension of the McIlvenna Bay Deposit and further delineating the Bridge Zone. Hole BZ-25-01 successfully achieved both, including a significant intersection 200m down plunge from the nearest resource drill holes completed at the McIlvenna Bay Deposit. That hole returned 421.8m of 1.89% CuEq, 7.7m of 3% CuEq and another 32.9m of 1.39%. In total, nine exploration drill rigs are currently turning at the Project, including one continuing drilling at the Bridge Zone, one testing high-priority near-mine targets and seven continuing infill drilling at Tesla as we drive progress towards a planned maiden resource estimate. (TSX: FOM) (OTCQX: FMCXF) News Release
Goliath Resources reported their final assay results from the 2024 drill season this morning. The company says all 8 original layers identified through drilling and modelling on Surebet have all been expanded and all remain wide open with strong additional expansion potential. Highlighted results included 10.17 m of 9.39 g/t Aueq which added another 4 stacked gold veins, bringing that total up to 12 and stretching vertically for over 1.2km. Other results this morning included 8m of 4.34 g/t AuEq and 5m of 6.91 g/t AuEq. (TSX-V: GOT) (OTCQB: GOTRF) News Release
Headwater Gold announced final results from its 2024 program on its Spring Peak Project in Nevada. At the Shadow Target, drilling returned 7.6m of 3.55 g/t Au and 4.5m of 3.16 g/t Au. At the Southpaw Target, drilling hit 4.75 g/t Au over 1.5m. Headwater completed a multi-rig drill program totaling 6,205 m of drilling across 18 holes at Spring Peak in 2024. The new Shadow target drilling confirmed the presence of high-grade gold in a new blind target area and initial holes into the Southpaw target, together with previously reported intercepts for the Pioneer target, show the Bear Fault corridor is mineralized over a kilometre-scale strike extent and remains open to the southwest and northeast. (CSE: HWG) (OTCQB: HWAUF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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