Morning Briefing: Minera Alamos Commences Mining and Stacking from Nicho Main
Welcome to Mining Stock Daily. I’m Trevor Hall.
Today is Thursday, July 18th.
The price of gold continued higher when the Globex system opened on Tuesday evening. After hitting a high of $2488 shortly after the U.S. stock market opened, gold was pushed lower into the p.m. London fix. It traded as low as $2456 before bouncing a bit to close in the afternoon at $2463, down $4.80 from Tuesday. Silver was hit hard late Tuesday evening and then again when the attack on gold occurred. It was pummelled for 94 cents and was down over $1 at one point. After bottoming out at $30.20, it bounced a bit to close at $30.51. The Mining Stock Journal noted that the charts for gold and silver still look bullish so perhaps yesterday was a one-day issue with the stock market getting hit hard. The mining stocks were hit along the metals and the stock market. GDX closed down 2.1%.
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 325,000 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….
Minera Alamos provided an operations update for the Santana Gold Mine in Sonora, Mexico this morning. The company says mining and stacking operations commenced last month with approximately 900 ounces of newly mined gold stacked on the leach pad (through the end of June) during the initiation of mining operations at the new Nicho Main zone deposit. additional optimization work is underway in the new open pit to reduce the quantity of explosives used in the mine blasting operations. Combined with changes in the site crushing arrangements, these initiatives should result in more optimal operating (leaching) conditions that will continue to be monitored and adjusted as mining activities progress deeper into the resource. (TSXV: MAI) News Release
Canada Nickel Company announced an initial mineral resource for its Deloro Nickel Sulphide Project near Timmins, Ontario. The project currently sits with an indicated resource of 81 million tonnes grading 0.25% nickel containing 202kt of nickel plus a further Inferred Resource of 357 million tonnes grading 0.25% nickel containing 885kt of nickel. There are currently seven rigs drilling across the Timmins Nickel District and this resource for Deloro is the first of seven resources expected to be published throughout this year and into 2025. (TSXV: CNC) (OTCQB: CNIKF) News Release
Li-FT Power has entered into a property purchase agreement with Infinity Stone Ventures to acquire the Shorty West Lithium mineral claim, which is adjacent to the company’s Yellowknife Lithium Project. The company will issue 12,000 common shares to Infinity Stone for the claim. (TSXV: LIFT) (OTCQX: LIFFF) News Release
Orezone Gold announced its second quarter 2024 gold production results from its Bomboré Gold Mine. The company produced 25 and a half thousand ounces of gold and sold just under 25,000 ounces at an average realized price of US$2,334/oz, resulting in sales of US$58.2 million. Q2 was scheduled to be the lowest grade quarter in 2024 as the result of mine sequencing. The company reiterated its production guidance of 110,000 to 125,000oz for the year. (TSX: ORE, OTCQX: ORZCF) News Release
O3 Mining received the second set of assay results from its drilling campaign completed between January and March on the Malartic H deposit within the Marban Alliance project in Québec. Highlights from this batch returned 35.1 g/t Au over 4.5m, which included a 1.5m interval of 102 g/t Au. there was also 3 g/t Au over 15.4m and 2.1 g/t over 19.3m. The objective of the 2024 drilling campaign on the Malartic H deposit is the conversion of mineral resources that are currently classified as inferred mineral resources in the Corporation's current mineral resource estimate to the indicated mineral resource category. (TSXV: OIII) (OTCQX: OIIIF) News Release
Red Pine Exploration announced assays from 5 additional drill holes from its resource expansion drill program at the Wawa Gold Project in Ontario. Today’s results included 2.39 g/t gold over 39.07 m, including 7.99 g/t gold over 6.99 m in SD-24-497 in the Jubilee Shear System. Gold mineralization remains open at depth in the Jubilee Shear down-dip and down-plunge of the existing mineral resource and to a lesser extent within areas of the former mineral resource where gaps in drilling remain. An independent resource estimate for Wawa is expected to be completed next month. These holes reported today wil not be included in the upcoming report. (TSXV: RPX, OTCQB: RDEXF) News Release
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