Morning Briefing: More High-Grade Drill Results from both Collective Mining and NGEx Minerals
Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Trevor Hall.
It's Thursday, March 13th.
While the stock markets rebounded yesterday in a relief rally after a softer than anticipated CPI print, precious metals regained traction with gold up 9/10ths of a percent, closing at $2,928 per ounce and within striking distance of its All-time high. In gold news, Bolivia’s state gold trader outlines plans to quadruple its purchases this year to boost its central banks’ foreign reserves while Macquarie raised its gold forecast to hie $3,500/oz by Q3. Silver followed suit yesterday with a gain of 1.8% and closing at $33.74 an ounce, testing resistance. If able to bust through these levels, the move in silver could be explosive.
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…..
Collective Mining announced new assay results from two holes designed to expand the dimensions of the new Ramp Zone discovery, which lights in the deeper portion of the Apollo system within the company’s Guayabales Project. Drill hole APC105-D1 cut 75.80 metres at 8.01 g/t gold equivalent and represents the longest and best intercept on a grade accumulation basis (grams x metres) encountered to date in the new Ramp Zone discovery. Drill hole APC103-D3 intersected 20.30 metres @ 6.68 g/t gold equivalent before entering a post mineral dyke at an oblique angle and being terminated. The two holes expand Ramp to the west and southwest while the zone remains open in all directions. The company says they have an internal 3D model for Ramp and a working hypothesis of why the zone formed. The Company currently has six drill rigs operating as part of its fully funded 60,000 metre drill program for 2025 with four rigs drilling at Apollo, one drilling at the Tower Target and a final rig testing the San Antonio Project. Two additional rigs are expected to begin operating in late Q1 and early Q2. (NYSE: CNL) (TSX: CNL) News Release
NGEx Minerals also published new drill results out of the Lunahuasi copper-gold-silver project in San Juan, Argentina. Results included 31.65m of 8.14% CuEq in hole 31, 27.4m of 25.19% CuEq in hole 32 and 51.5m of 12.26% CuEq in hole 35. The company says they have been successful with test testing of medium and long range holes, discovering additional high-grade in large gaps in the drill pattern and expanding the boundaries of the deposits out to a minimum of 1000m in most directions. The company also wants to test the concept of a porphyry lying to the west of the Lunahuasi deposit and currently have one hole underway for this with another hole just beginning. (TSX: NGEX) (OTCQX: NGXXF) News Release
American Eagle Gold says they have fulfilled all obligations under its options agreement to acquire a 100% interest and ownership in the NAK porphyry project in BC. As part of the final option payment, American Eagle has issued 1,000,000 common shares to Bernie Kreft and completed all required cash and work commitments to secure full title to the project. The company says a primary objective for 2025 is to further define and expand near-surface mineralization further, enhancing the project's economic potential. The Northeast Expansion Zone will be an immediate and large focus to expand the North Zone, which remains open to the north, east and at depth, with step-out drilling planned to refine its orientation and extent. (TSXV: AE) (OTCQB: AMEGF) News Release
Fortuna Mining provided an update on its exploration program at the Séguéla Mine in Côte d’Ivoire. Exploration drilling at Kingfisher has moved to infilling and improving the resource confidence along the 1-kilometer strike length of the current resource pit. Results reported today included 10.6 g/t Au over 9.4m, 8.4 g/t Au over 14.5m and 7.2 g/t over 31.5m. Drilling remains ongoing across the current pit-constrained Inferred Resource and will also extend to test the immediate margins, both at depth and along strike, where late 2024 drilling identified several promising intervals intersected after the initial resource estimate was completed. (NYSE: FSM | TSX: FVI) News Release
Ridgeline Minerals announced final assay results at the Swift gold project which is currently being operated under an exploration earn-in agreement with Nevada Gold Mines. Drillhole SW24-007 was the second of two deep core holes completed in the 2024 program and was drilled to a total depth of 1,071.1 meters. It intersected several thick, continuous intercepts of low-grade gold including a highlight intercept of 2.9m grading 1.9 g/t Au within 24.7m grading 0.5 g/t Au starting at 963.0m downhole. NGM has spent a total of US $10,078,008 in qualifying work expenditures through December 31, 2024, and has approved a 2025 exploration budget of US $5,000,000. (TSXV: RDG) (OTCQB: RDGMF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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