Morning Briefing: Minera Alamos to begin Mining Activities at Santana's Nicho Main

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

Today is Tuesday April 16th.

Monday the gold price traded sideways overnight before getting gut-punched when the Comex opened, as customarily occurs, dropping from $2377 to as low as $2340. But 30 minutes after the London p.m. fix, the price took off and traded as high as $2405 before settling the afternoon session a hair below $2400. The Mining Stock Journal said that elevated tension in the Middle East likely caused the move over $2400. Silver staged a steady move higher starting Sunday evening, running from $27.93 to $28.51 by the afternoon Globex close. As this is being written Monday evening, silver is trading over $29. Despite a rally in the metals, the mining stocks traded lower Monday, with GDX down .68% and the Arca Gold Bugs index down 1.37%. The Mining Stock Journal commented that, given the sharp sell-off in the general stock market Monday, it's likely that CTA's were unloading everything across the board in their portfolios. As the mining stock newsletter suggested yesterday, this week will likely be volatile in all of the markets.

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… Victoria Gold. 

Victoria Gold operates the Eagle Gold Mine within the Dublin Gulch Property. Eagle is the largest gold mine in Yukon's long history of gold production. In addition to the long-life Eagle Gold Mine, the Dublin Gulch property has upsized exploration potential including priority targets Raven and Lynx among others. Follow all the gold production and exploration news at ⁠vgcx.com⁠.

And here’s what you need to know this morning…. 

Minera Alamos reported an update on its Santana operations this morning. The company’s contractor will begin mining activities at the Nicho Main zone shortly. The focus of contractor activities since the beginning of the month has been equipment maintenance and the preparation of additional haulage roads to maximize operational flexibility for the current mine plans. While the re-start of mining activities has been aided by the pre-stripping of the new deposit area in the past year, new operations will have a staggered start as access to multiple working areas increases and as the new pit opens up over time. Mining plans at the Nicho Main zone are aided by reduced hauling distances to the Santana leach pad compared to the Nicho Norte pit, and it is expected that this will allow for increases in both mining and stacking activities as the second quarter of 2024 progresses. (TSXV: MAI) News Release

Vizsla Silver has entered into an agreement to acquire two lare claims comprising of 10 and a half thousand hectares south and partially adjacent to the Panuco Project. Titled the El Richard San Enrique claims, the area is situated along the highly prospective Panuco – San Dimas corridor and is covered 100% with LiDAR and partially covered with high-resolution aero-magnetic and radiometric surveys. Preliminary recognizance mapping in the NE has identified favourable andesite lithologies, quartz veining and breccias. The area has never been systematically mapped and prospected. (TSXV: VZLA) (NYSE: VZLA) News Release

Li-FT Power reported assays from 17 drill holes completed at the Echo, Fi Main, & Fi Southwest pegmatites within the Yellowknife Lithium Project located outside the city of Yellowknife, Northwest Territories. Today’s results included 43m of .85% Li2O and 10m of 1.36% at Echo, while drilling at Fi Main returned 16m of 1.31%. This new information confirms for the first time the low-angle nature of mineralization, emphasising the potential for Echo to deliver accessible tonnes and grades close to surface. (TSXV: LIFT) (OTCQX: LIFFF) News Release

Metallic Minerals announced drill results from the La Plata Project in Colorado. The exploration program included 4,530 meters ("m") in four diamond drill holes with the dual objectives of expanding on the 1.21-billion-pound copper and 17.6-million-ounce silver inferred mineral resource, and defining the controls to higher-grade mineralization. Three of four holes intercepted continuous porphyry style Cu-Ag-Au-PGE mineralization over 500 m in width at 0.3% Cu including significant intervals exceeding 0.5% to 0.7% CuEq with associated Ag, Au and PGEs. Drill hole LAP23-05 intersected 909 m of continuous mineralization from surface grading 0.26% CuEq over the entire hole length. The deposit remains open to expansion at depth and along trend. The U.S. Geologic Survey ("USGS") has identified the La Plata mining district as a potential critical minerals resource area under the Earth Mapping Resources Initiative program. (TSXV:MMG) (OTCQB:MMNGF) News Release

Abitibi Metals announced results from the second batch of holes of the maiden drill program currently underway at the B26 Polymetallic Deposit. he Company is currently completing its winter drill program at the Deposit, where 13,500 metres is to be drilled under the first phase of a fully funded 30,000-metre 2024 field season. Today’s results included .70% CuEq over 32.5 metres and 1.47% CuEq over 97.5 metres beginning at 30.5 metres along hole, including 3.9% CuEq over 21.8 metres. (CSE: AMQ) (OTCQB: AMQFF) News Release

Cornish Metals provided an update on current activities at the South Crofty Tin project in Cornwall, UK. They company says the preliminary economic assessment is on track for completion this quarter while refurbishment of the New Cook’s Kitchen shaft is progressing as planned. Mine dewatering continues with the submersible pumps and Water Treatment Plant (“WTP”) operating to specifications. The water level in NCK shaft is being maintained at approximately 280 metres below surface and the treated water being discharged to the Red River continues to exceed the standards permitted by the Environment Agency. Exploration drilling of the Wide Formation target continues with nine holes completed and approximately 7,200 metres drilled to date. Results will be reported when available. (AIM/TSX-V: CUSN) News Release

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