Morning Briefing: More M&A with Doré Copper Mining Merging with Australia's Cygnus Metals

Good morning and welcome to the Mining Stock Daily Morning Briefing. 

It’s Tuesday, October 15th

Yesterday gold rallied overnight to as high as $2684 before getting pile-driven back down to $2660 just in time for the Comex close. The yellow dog bounced to close out the afternoon at $2665, down $8 from Friday. Silver also rallied into the early a.m., rising to $31.75 but was pushed back to $31.22 into the Comex close. Poor man's gold bounced to close the afternoon at $31.39, down 35 cents from Friday. The Mining Stock Journal noted that both metals gapped lower at Sunday evening re-commencement of trading via the Comex Globex trading system. The point here is that heavy price-management is in effect for now. The mining stocks saw through the Fed-curated trading action and traded higher Monday. GDX closed up 0.27% from Friday.

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…..

Australian Junior, Cygnus Metals, announced plans to merge with Doré Copper Mining. The merger of equals will create a Canadian-focused copper and lithium companywith two core assets, The Chibougamau copper gold project and the Pontax lithium project near James Bay. Upon completion of the Transaction (excluding the Placement), Cygnus shareholders will own 55% of the Merged Group and former Doré shareholders will own 45%. Cygnus intends to raise up to A$11m (before costs) at A$0.072 per share via a two-tranche placement to fund resource growth and advance the pathway to production at Chibougamau whilst also advancing the lithium exploration pipeline in James Bay. (Cygnus, ASX:CY5) (Dore, TSXV:DCMC; OTCQB:DRCMF).

Collective Mining announced assay results for the initial four reconnaissance drill hotels designed to outline the mineralized early porphyry phase unit in the southern portion of the Plutus Target. Plutus is located approximately one kilometer east of the Company's flagship Apollo system. Radial shallow drilling into the gold-copper soil anomaly in the southern portion of the Plutus target intersected 328m of .31 g/t AuEq and 131.55m of .67 g/t AuEq. Logging indicates a porphyry vein stockwork with quartz, magnetite and chalcopyrite veins associated with potassic alteration and overprinted by sporadic late-stage carbonate base metal veins. Early modelling of geology and downhole geochemistry received to date indicates that drilling has intersected the upper part of a porphyry system with data suggesting that better mineralization will vector at depth to the northwest. Upon receipt and compilation of assay results for the final two holes, deeper drilling to the northwest will ensue. (NYSE: CNL) (TSX: CNL) News Release

Kodiak Copper reported drill results from drilling at the MPD copper-gold porphyry project in southern British Columbia. Additional drilling at the Adit Zone returned .31% CuEq over 327m, which included a 15m interval of 1.15% CuEq in hole 9. Hole 11 returned .2% CuEq over 450m. Both holes extended mineralization an additional 200 metres below shallow historic drilling in the north and south, and to over 400 metres of strike length. The Adit Zone remains open in several directions. (TSXV: KDK) (OTCQB: KDKCF) News Release

Blackrock Silver reported assay results from its Tonopah West Project in Nevada. These results come from measured and indicated conversion drilling with the southern end of the DPB area. Highlights included 2.59m of 3,744 g/t AgEq and 1.28m of 1,286 g/t AgEq. The drill program is completing 2 to 3 core tails per week with lab turn around at roughly 6 to 8 weeks, with 30 drillholes completed to date. Many drillholes have pending assays which will be released as batches through the fall and winter months. (TSXV: BRC) (OTCQX: BKRRF) News Release

FPX Nickel has successfully completed pilot-scale hydrometallurgy refinery testwork and produced battery-grade nickel sulphate from its Baptiste Nickel Project. Continuous pilot-scale testing of all leaching unit operations confirmed the refinery flowsheet and generated the expected low-impurity leach solution for downstream purification and crystallization testwork. The testwork has led to flowsheet improvement through the removal of unit operations in the leaching area that proved redundant during continuous, steady-state piloting. FPX says bench-scale testing of solution purification and crystallization unit operations further demonstrate FPX Nickel's ability to produce battery-grade nickel sulphate crystals from Baptiste's awaruite concentrate. (TSXV: FPX) (OTCQB: FPOCF) News Release

Arizona Sonoran Copper has appointed M3 Engineering from Tucson to lead the Pre-Feasibility Study for the Cactus Project. The focus of the coming months will be upgrading the entirety of the Parks/Salyer deposit to the PFS level. Upcoming workstreams in preparation of the PFS, include exploration and infill drilling, mine design and other technical studies supporting geotechnical and hydrological drilling and metallurgical test work. (TSX:ASCU | OTCQX:ASCUF) News Release

Newmont, along with their partner MKS PAMP in Switzerland, are offering a mine-to-market traceable PAMP 1oz Lady of Liberty Gold Bar. The bar leverages the established Provenance™ solution to give consumers greater assurance into the origin of their gold. The solution is pioneered by MKS PAMP and independently audited and certified, assuring complete segregation of the gold throughout the refining and minting process, guaranteeing transparency and full traceability of the gold.

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