Morning Briefing: Meridian Drills New VMS Mineralization at Santa Helena
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall
It's Tuesday, April 15th.
The precious metals took a little bit of a breather yesterday but its equities did not. After retesting the new highs made Friday, Gold’s front month contract pulled back a bit to close yesterday at $3226/oz, down about a half a percent. Silver had a positive day, up 8/10ths of a percent and closing at $32.16/oz. But the equities really were the outperformers. Despite gold cooling off, the miners per the GDX and the GDXJ both hovered around the new recent highs. The GDX was up 6/10ths of a percent while the GDXJ was up 1.5% on the day. Even many of the more notable silver juniors and developers saw positive returns yesterday in the market.
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…Vizsla Silver.
Vizsla Silver is focused on becoming one of the world’s largest single-asset silver producers through the exploration and development of the 100% owned Panuco-Copala silver-gold district in Sinaloa, Mexico. The company consolidated this historic district in 2019 and has now completed over 375,000 meters of drilling. The company has the world's largest, undeveloped high-grade silver resource. Learn more at https://vizslasilvercorp.com/
And here’s what you need to know this morning…..
Meridian Mining says they have drilled laterally into a VMS pile hosting Cu-Au-Zn & Ag massive to semi-massive sulphides on the western limit of the Santa Helena Au-Cu-Ag & Zn deposit "Santa Helena". CD-651 returned 33.4m @ 2.0g/t AuEq including 13.1m @ 4.2g/t AuEq. CD-651's success in intercepting shallow semi-massive to massive high-grade VMS mineralization confirms that this western extension of Santa Helena's system is open, and more continuous than originally modelled. Meridian also reported that its exploration team has defined a new Cu-Au and Zn discovery at Santa Fé, 5km southeast of Santa Helena. Santa Fé hosts an open Cu-Au-Zn soil geochemical anomaly extending over 2,200m with a coincident Induced Polarization anomaly. Further geophysical and surface mapping is ongoing with Santa Fé projected to be drill ready by late in Q2. (TSX:MNO)(OTCQX:MRRDF) News Release
Marimaca Copper reported results from the re-interpretation of data in the Pampa Medina Project Area which incorporates the Pampa Medina and Madrugador deposits and the newly identified Pampa West oxide zone, and is located approximately 25km from the Company’s flagship Marimaca Oxide Deposit. Based on the extensive work completed, including the new drilling results extending Pampa Medina, the Company believes that Pampa Medina may be the central part of a larger manto system, which genetically links the Madrugador, Pampa Medina, Sierra Valenzuela (Antofagasta Minerals) and Pampa Norte deposits. Drill results returned 32m of .81%Cu, 90m of .4%, and 116m of .32%. The company is planning on further drilling this year which will focus on further step-out drilling, as well as infill drilling in the Madrugador, Pampa Medina West and Pampa Medina Main areas to support and validate historical drilling results. (TSX: MARI) News Release
Aldebaran Resources says field activities at the Altar copper-gold project in Argentina are progressing well with with 18,267.5 m of drilling having been completed to date. Those meters included 5,977.5 m of drilling for metallurgical samples required for the Phase 2 Nuton leaching program and 12,310 m of drilling to infill areas of mineralization that are currently classified as inferred resources that will need to be upgraded to measured and indicated. The Company has elected to delay the release of the PEA to Q3-2025 to allow additional time to develop both the Nuton and non-Nuton cases. Aldebaran is working with its consultants and partners to evaluate multiple development scenarios for the Altar project, including scenarios that could potentially allow for a faster permitting process and easier application for benefits under the RIGI tax regime in Argentina. The delay in releasing the PEA should allow the Company the necessary time to refine these plans. (TSX-V: ALDE, OTCQX: ADBRF) News Release
Goldshore Resources provided its latest assay results from its ongoing 20,000-meter drill program and first results from Golden Gate, the gap between the Southwest and Moss Main conceptual open pits, from the ice drilling program of the Moss Gold Project in Northwest Ontario. Results from two drill holes targeting the gap between the Main and Southwest Zones intersected new high-grade mineralization representing a combined true width mineralized corridor of 75m connecting the two zones with best intercepts of 12.9m of 2.64 g/t Au and 2m of 2.81 g/t. (TSXV: GSHR) (OTCQB: GSHRF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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