Morning Briefing: New Drill Results from Vizsla Silver, Arizona Sonoran and Brixton Metals

Welcome to Mining Stock Daily. I’m Trevor Hall. And I’m Paul Harris.

Today is Monday March 20th.

Gold and silver soared last week on the news that the western Central Banks cranked their printing presses back up in an effort to contain the budding banking crisis. Gold soared $50 per ounce Friday and was up almost $100 for the week. Silver jumped 77 cents per ounce or 3.55% Friday and was up nearly $2 for the week. The Mining Stock Journal said that, effectively, Central Bank QE is back. In fact, yesterday evening the western Central Banks collectively issued a statement announcing coordinated action to flood the banking system with short term liquidity. The Mining Stock Journal commented that the jump-start of the Central Bank printing presses is in response to a banking crisis that is going to get worse. 

The newsletter added that it is as bullish on gold and silver as at any time in the last 22 years. The mining stocks in general soared last week. The GDX jumped 4.8% on Friday and was up 12.3% for the week. The Mining Stock Journal commented that, for as bullish as it is now on the metals, it's bullish x3 on the miners and x5 on the junior micro-cap exploration stocks. The newsletter said that, remarkably, sentiment per the Hulbert Gold Newsletter slid on Friday, though it was higher on the week. The current reading on the contrarian indicator is still reflective of the potential for a huge move.

We will get to the news from the miners and explorers in a moment, but first a word about today’s sponsor.

This episode of Mining Stock Daily is brought to you by…Western Copper and Gold. 

Western Copper and Gold is focused on developing the world-class Casino project in Canada's Yukon Territory. The Casino project consists of an impressive 11 billion pounds of copper and 21 million ounces of gold in an overall resource. Western Copper and Gold trades on the TSX and the NYSE American with WRN. Be sure to follow the company via their website, www.westerncopperandgold.com.

And here’s what you need to know this morning….

Vizsla Silver reported results from seven drillholes targeting the recently discovered La Luisa Vein, which is 700 meters west of the Napoleon Vein at its Panuco silver-gold project. Results included 2.3m of 4,227 g/t silver equivalent, which included .47m of 18,950 g/t. Other results were 5.6m of 1,076 g/t silver equivalent and 2.5m of 1,967 g/t. Today's results expand the high-grade footprint at La Luisa by over ~150 metres down dip. It is one of several prospective targets that does not currently host a mineral resource. Furthermore, the relatively high gold to silver ratios indicates the current drilling horizon may be at the top of the mineralized system, similar to the near surface gold rich zone at the southern extent of the Napoleon vein. This ultimately supports the potential for La Luisa to deliver improved grades and widths at depth. Vizsla Silver trades on the TSXV and the NYSE with VZLA. News Release

Arizona Sonoran Copper said exploration drilling at the NE Extension target returned 302m of continuous mineralization grading 0.42% Cu. The hole was collared 3000 feet northeast of the Cactus East deposit. Both the NE Extension, as well as the Gap Zone, were highlighted as priority targets following a property wide ionic leach program and magnetic imaging program targeting exploration potential along the 4 km Cactus Mine Trend. During 2023, a total of $900,000 is budgeted for additional exploration in the Gap Zone and the NE Extension. Other holes reported this morning from infill drilling at Cactus East returned 149.7m of 1.51% Cu and 114.9m of 1.25% Cu. Arizona Sonoran Copper trades on the TSX with ASCU and on the OTCQX with ASCUF. News Release

Brixton Metals announced their final drill results for the 2022 campaign at its Langis Project, which lies within the Cobalt Camp of Ontario. Hole 265 returned 7m of .37% cobalt while hole 283 returned 9m of 1037 g/t silver, which also included 4m of 2043 g/t. Cobalt and silver mineralization at Langis appear to be derived from separate mineralizing events, although the host veins commonly share structures with one another and the two can occur together frequently. Overall, the company says these results from the 2022 drilling campaign were successful in identifying new zones of cobalt, nickel and silver mineralization at the Langis property and further drilling is required to test the extents and potential of these zones. Brixton Metals trades on the TSXV with BBB and on the OTCQB with BBBXF. News Release

GR Silver Mining announced an updated Resource Estimate for its Plomosas Project in Sinaloa, Mexico, which features a 108% increase in indicated mineral resources from 46Moz silver equivalent to 97Moz including a 72% increase in indicated silver resources from 32 Moz to 55 Moz, a 61% increase in inferred resources from 33 Moz to 53 Moz AgEq including a 20% increase in inferred silver resources from 18 Moz to 22 Moz, all using a $22/oz silver price. The company also reported a 44% increase in average indicated resource grade from 143 to 206 g/t AgEq. At the San Marcial Area, there was an 80% increase in indicated resources to 65 Moz AgEq of which 91% are potentially amenable to open pit extraction. At the Plomosas Area, indicated resources increased 260% to 31 Moz AgEq. GR Silver Mining (TSXV | GRSL) news release

Nevada King Gold announced assays from two vertical, reverse circulation holes at its Atlanta Gold Mine Project in Nevada, in what it calls the West Atlanta Graben Target which ties-into a series of Kinross RC holes, With Thick Oxide Gold Hits Including 181.4m grading 1.03 g/t Au And 163.1m grading 0.98g/t. This opens up a new target envelope running approximately 500m north-south for further discovery and potential resource expansion with relatively low historical hole density along most of its length. Nevada King Gold (TSXV: NKG) (OTCQX: NKGFF) news release

Cordoba Minerals reported assays from ongoing in-fill drilling at its San Matias Copper-Gold-Silver Project in Cordoba, Colombia with highlights of 150.7m grading 0.59% copper, 0.28 g/t gold and 4.19 g/t silver for a 0.74% copper equivalent in hole 162  and 77.48m grading 1.24% Cu, 0.82 g/t Au and 6.78 g/t Ag, or 1.68% CuEq1 in hole 170. The initial in-fill campaign completed 27,726m in 142 drill holes within the core of Alacran which confirmed the strong correlation with the Pre-Feasibility Study block model. The second phase program focuses on peripheral in-fill areas to confirm the life of mine average grade estimate of Alacran. Cordoba also arranged a US$4M bridge loan from majority shareholder, Ivanhoe Electric  bearing interest at 12% per annum. Cordoba Minerals (TSXV: CDB) (OTCQB: CDBMF) news release

Golden Minerals announced a maiden Resource estimate for its Yoquivo silver-gold project in Chihuahua, Mexico. The inferred resource is 937,000t grading 570g/t AgEq for 17.2Moz. The company said the resource covers a small portion of the strike length of the veins included in the estimate and a fraction of the total number of veins at Yoquivo. Golden Minerals (NYSE-A: AUMN and TSX: AUMN) news release

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