Morning Briefing: New Discoveries Made at Ridgeline Mineral's Swift Project and Founders Metal's Lower Antino

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

Its Thursday, November 7th.

Gold and Silver hit the down button yesterday post election. It was a brutal day for gold and silver throughout early morning trading as the trifect of bond yields, stocks and the dollar were all on the rise. Gold finished the day down 2.6%, but was down $90 at one point yesterday. It closed at $2,675 per ounce. Silver traded from just under $33 to a low of just under $31/z, settling at $31.30 a percentage change of 4.4%. If there is something to note, its the supporting moving average where both metals are finding themselves while the Relative Strength from overbought territories are also leveling off.

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…

Ridgeline Minerals announced a new high-grade assay results or core hole drilling at the Swift Project, currently being operated under an exploration earn-in agreement with Nevada Gold Mines. Drillhole SW24-006 is the first of up to three deep core holes planned for the 2024 program and was drilled to a total depth of 918.2 meters.  The hole was designed to test favourable carbonate host rocks along the projection of the Mill Creek thrust fault, a significant structural control and conduit for gold mineralization at Swift. The hole returned a highlight intercept of 1.1m grading 10.4 grams per tonne Au within 2.7m grading 7.0 g/t Au starting at 676.3m. Drillhole SW24-007 is currently in progress and testing the down-dip projection of the Mill Creek thrust approximately 1.0 kilometer to the southwest. (TSXV: RDG) (OTCQB: RDGMF) News Release

Founders Metals have also made a new discovery. This coming from it Antino Gold Project in Suriname. The company announced a hit of 81.9m of 1.01 g/t Au within a broader 200m wide zone of anomalous gold at the Lower Antino area. With the success of these preliminary drilling results, the Company has increased the Phase 1 Lower Antino drill program from 1,500 m to 4,500 m and will release additional results as assays are received. (TSXV: FDR) (OTCQX: FDMIF) News Release

Aldebaran Resources has entered into an option to joint venture the Altar Project with Nuton Holdings, which is a Rio Tinto Venture. Nuton can acquire a 20% indirect interest in the Altar project by making staged payments totaling US$250 Million. The first $20M will happen this quarter after the publication of an updated mineral resource estimate, if Nuton elects to proceed. Another $30M will be paid after the publication of a PEA in Q2 or 3 next year. The final $190M would be made after the publication of a Pre-feasibility study sometime in 2026. Aldebaran is collaborating with Nuton to evaluate a NutonTM Technologies sulphide leaching option in the upcoming PEA and PFS. (TSX-V: ALDE, OTCQX: ADBRF) News Release

Newcore Gold has appointed Mr. Alan Pangbourne as a Strategic Advisor to the Company. Mr. Pangbourne has more than 35 years of experience in the mining sector, and currently serves as Non-Executive Director for OceanaGold Corporation as well as Non-Executive Director for Chesapeake Gold Corp. He was most recently the President and CEO of Guyana Goldfields Inc. from January 2020 through to its sale to Zijin Mining Group Co., Ltd. in August 2020. (TSX-V: NCAU, OTCQX: NCAUF) News Release

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