Morning Briefing: New Drill Results from Heliostar, Hercules and Koryx
Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Trevor Hall.
It's Thursday, February 20th.
Gold continued to consolidate just below its recently achieved new all-time high around $2,950/oz yesterday. Yesterday’s move on the April contract was a bit of a roller-coster, moving itself from slightly in the red to slightly in the green and back to slightly in the red. It settled the day at $2,936/oz with more talks and headlines regarding a full audit of the gold vaults at Fort Knox in the US. This morning, gold reached yet another new high at $2,972 but has retreated from there. Silver was down 1% yesterday to $33.04, but it remains in a very healthy upward trend on the chart, with higher lows and higher highs since the beginning of the year.
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…..
Heliostar Metals announced results from additional drill holes at the Ana Paula Project in Mexico. The focus of the holes reported today was to expand the High Grade Panel and test step-out targets at depth beneath this zone. At the High Grade Panel, drilling returned 161m of 4.26 g/t Au, 30m of 10.2 g/t and 15.7m of 10.4 g/t. At the Parallel Panel, drilling returned 3m of 21.4 g/t Au while a Satellite was hit 150m below the High grade panel and returned 24m of 5.1 g/t Au. The company says these results indicate that more infill drilling can add higher grade ounces to the Ana Paula resource model. (TSXV: HSTR) (OTCQX: HSTXF) News Release
Koryx Copper shared assay results from 10 holes received as part of the Phase 2 drill program on its Haib Copper Project in southern Namibia. Results this morning were highlighted with 146m of .53% CuEq, 191m of .47% CuEq and 141m of .45%. These results today have a significantly higher CuEq grade than the average mineral resource estimate grade. 4 drill rigs (2 track-mounted and 2 man portable) are currently drilling on site with a further 4 man-portable rigs expected to be mobilised during Q2. The Phase 2 drill program objective is to investigate the controls and continuity of higher-grade mineralisation within the Haib system and guide the design of the follow-up drill programs. This program will be followed up by Phase 3 and Phase 4 drilling throughout 2025 and will be used to validate, confirm and upgrade the MRE. (TSX-V: KRY) News Release
Hercules Metals published results for drill hole 21 which returned 354m of .47% CuEq and included 171m of .64% CuEq. The hole was designed to test below 2023 drill hole 23-14, interpreted to be drilled along the periphery of the system. 2024 mapping and sampling reveal a transition to iron-rich volcanics and strongly reactive limestones, both of which are capable of generating significantly higher grades than the low-iron felsic volcanics drilled thus far in the northwestern portion of the Property. Drilling will now move southeast into thicker, more strongly reactive host rocks, where modeling shows potential for longer and higher-grade intercepts. (TSXV: BIG) (OTCQB: BADEF) News Release
Calibre Mining published their financial and operating results for the full year and Q4 2024. With a record Q4 gold production of over 76,000 ounces, the company’s full year production was 242,487 ounces, exceeding their updated guidance and generated more than $570M in gold revenue. Its total consolidated cash costs was $1,336 / oz for the year. Calibre is nearing completion of construction at its Valentine Gold Mine in Newfoundland & Labrador, which is set to become Atlantic Canada’s largest gold mine. This milestone marks a significant transformation for the Company from a junior gold miner to a diversified, mid-tier gold producer. As of February 15, 2025, the year is off to a strong start with consolidated production trending 15% higher than budget and cash increased to $161 million, a 23% increase over December 31, 2024. TSX: CXB; OTCQX: CXBMF) News Release
Integra Resources has appointed Dale Kerner to the newly created position of Vice President of Permitting and is expected to formally join the Company in early March 2025. Mr. Kerner is based in Boise, Idaho, and brings over 25 years of experience in environmental permitting and regulatory compliance, with a deep understanding of the permitting landscape in the United States, which included work at the recently permitted Stibnite Gold Project in Idaho. Mr. Kerner will be responsible for leading all aspects of permitting related to the Company's development stage projects, including DeLamar and the Nevada North Project. (TSXV: ITR) (NYSE American: ITRG) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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