Morning Briefing: New Drill Results from Tudor Gold, Exploits Discovery and Kobo Resources
Welcome to Mining Stock Daily. I’m Trevor Hall.
Today is Tuesday, August 13th.
Gold began rising late Sunday night and continued a stunning price rally that took the price of December gold from the Sunday evening low of $2460 to $2513 by the close of the afternoon Globex session. Along the way gold closed at an all-time high on the Comex before the all-time high Globex close. Silver also ran higher, with September silver finishing the afternoon at $2804, up 45 cents and up just a bit more than gold on a percentage basis. The Mining Stock Journal said that the likely catalysts driving the metal include the expectation that the Fed will have to cut rates and open the money spigots before year-end, a massive monthly U.S. Govt spending deficit in July and escalating geopolitical conflicts. The mining stocks soared in response to the metals, with the Arca Gold Bugs index up 3.7% and GDX up 3%. Some junior project development stocks were up doubt-digits percentage-wise.
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… Arizona Sonoran Copper.
Arizona Sonoran Copper Company (ASCU:TSX) is focused on developing its brownfield copper project on private land in Arizona. The Cactus Mine Project is located less than an hour's drive from the Phoenix International airport. Grid power and the Union Pacific Rail line situated at the base of the Cactus Project main road. With permitted water access, a streamlined permitting framework and infrastructure already in place, ASCU's Cactus Mine Project is a lower risk copper development project in the infrastructure-rich heartland of Arizona.For more information, please visit www.arizonasonoran.com.
And here’s what you need to know this morning….
Exploits Discovery Corp reported new gold assays results from its diamond drilling campaign at the Saddle Zone situated within the Company's Bullseye property. The latest assay data, received and verified from six additional drill holes, confirms multiple gold intercepts exceeding 10 g/t Au, correlating with the presence of visible gold ("VG") observed in the drill core. Results included 20.92 g/t Au over 0.60 m in hole 21 and 20.67 g/t Au contribution from a 0.55 m in hole 20. There are 3 drill holes left to be reported from this Phase 3 targeted drill program. The company says to date results suggest that the Saddle zone remains open in all directions. (CSE: NFLD) (OTCQB: NFLDF) News Release
Kobo Resources announced final assay results from the remaining seven drill holes as part of the Company’s diamond drilling program at its 100% owned Kossou Gold Project located in Côte d'Ivoire. Results reported today include 3m of 3.91 g/t Au and 14m of 2.91 g/t Au in hole 21, 6m of 5.47 g/t Au in hole 22 and2m of 3.95 g/t in hole 24. With the completion of its initial diamond drill program, the Company is currently evaluating all exploration results. It is planning to restart drilling on or around September 5th. Additional road access and drill pads have been planned and equipment is being re-mobilised to create the access. (TSX.V: KRI) News Release
Tudor Gold announced results of the first four holes totaling over 6,174 meters (m) of the planned 10,000-meter 2024 exploration program at their flagship property, Treaty Creek in the Golden Triangle. The first four drill-holes reported this morning target the Supercell-One Zone, or SC-1, which was identified earlier this year as representing a significant potential economic target within and expanding beyond the CS-600 Domain. Drill there has confirmed the 2022 and 2023 discovery with today’s results of 9 g/t AuEq over 2m, 6.76 g/t AuEq over 6m and 3.54 g/tAuEq over 19.65m. (TSXV: TUD) News Release
SPC Nickel announced additional diamond drill results from the ongoing 2024 Drill Program at SPC Nickel's West Graham Project in Ontario. The company says drilling continues to confirm and upgrade near-surface mineralization with all mineralized intervals exceeding the average grade of the in-pit resource published in our maiden Mineral Resource Estimate in January. Today’s results included 0.75% Ni and 0.24% Cu over 34.85 metres with a shorter 12m interval grading 1.15% Ni and .29% Cu. (TSXV: SPC) News Release
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