Morning Briefing: Nevada Lithium Significantly Increases the Size and Grade of it’s Mineral Resources at Bonnie Claire
Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Ian Wagner.
It’s Tuesday, November 12th.
Gold was sharply down Monday, getting hammered by another day of a strong dollar. December Gold settled at 2617, down $77 from Friday’s close. Silver was down nearly a dollar to close at $30.61 on a December basis, off 83 cents from Friday’s close. The miners were taken to the woodshed, with the GDX down 5% in Monday trading, closing at 36.73, down more than two dollars from Friday’s close. Selling momentum in the precious metals since last week’s election has continued while money is flowing towards the cryptocurrencies.
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…..
Dryden Gold Corp announced results on the Elora Gold System in the Gold Rock Camp. The Phase Five drill program completed late this summer, was designed to follow up on the high-grade shoot discovered on the Elora Target. Hole 024 returned 8.93 g/t gold over 12.45 meters, including 32.96 g/t gold over 2.73 meters. This is Dryden Gold's deepest hole to date and is Dryden's widest and most consistently disseminated high-grade intercept at Elora. The company noted that a follow up drill campaign on the Elora Gold System is underway. This program will focus on expanding the down-plunge potential and strike expansion at Elora. Dryden Gold trades on the (TSXV: DRY) (OTCQB: DRYGF) News Release
Nevada Lithium Significantly Increases the Size and Grade of its Mineral Resources at Bonnie Claire. The company released an updated mineral resource estimate for the Lithium Project in Nye County, Nevada. Most notably, the Lower Zone gives an indicated resource of 275 million tonnes at 3,519 parts per million lithium and 275 Mt at 8,400 ppm boron. Compared to Bonnie Claire’s previous resource report, the new drilling in the Lower Zone has led to a 68% increase in LCE tonnage, at an average grade that has tripled from 1,000 ppm to over 3,000 ppm. It includes intervals where grades exceed 6,000ppm. The company noted that with the significantly increased tonnage and higher grades, Bonnie Claire is potentially unrivaled by other sediment hosted lithium projects in Nevada and is now amongst the largest lithium resources in the world and amongst the highest-grade in Nevada. Nevada Lithium trades on the CSE: NVLH; OTCQB - News Release
Snowline Gold returns big drill results from it’s Valley deposit at its Rogue Project. Snowline announce additional analytical results from its 2024 Valley deposit drilling campaign on the Rogue Project in Canada's Yukon Territory. Highlights include:
Hole 091 returned 1.06 g/t Au over 380.4 m from surface, including 2.00 g/t Au over 51.0 m, pushing known mineralization past the resource boundary
Hole 088 returned 1.40 g/t Au over 219.1 m from surface
At the company’s nearby Cynthia project , geochemical samples delineate a 500 x 200 m gold and silver anomaly in talus fines immediately north of an area with limited historical drilling. A continuous chip sample across a mineralized dike yielded 0.58 g/t Au and 45.0 g/t Ag over 8.0 m. The Company awaits analytical results from the majority of its 2024 exploration campaign, including >21,400 m of drilling in 37 holes across five different targets.Snowline Gold trades on the TSXV:SGD and on the OTCQB:SNWGF - News Release
NexGen Energy Announced their Best Hole to Date and High-Grade Expansion at Patterson Corridor East project. The company recently concluded their 2024 Drilling Program at Patterson Corridor East that included more than 34,000 m across a total of 46 drillholes. At Paterson Corridor East, 19 of 30 holes intersected mineralization. Drilling has materially expanded the mineralized zone to 600 m strike length and 600 m vertical including 10 holes with multiple intervals >10,000 cps. The company’s best hole to date at Rook 1, 24-222 returned a 17.0 m wide vein with multiple high intensity occurrences greater than 61,000 cps. In addition, RK-24-220 and -223 intersected strong mineralization up to 41,000 cps and 40,000 cps, respectively including multiple intercepts of >10,000 cps. The company noted that In 2024, PCE is the largest drill program in the Athabasca Basin by any Company at 34,000 meters. NexGen trades on the TSX: NXE & NYSE: NXE - News Release
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That’s it for today everyone. Have a great day. Stay safe.
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