Morning Briefing: Newcore Gold Drills New Mineralization Outside the Boin Deposit Resource
Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Ian Wagner
Today is Wednesday, October 30th
Tuesday it was another day, another all-time high Comex and Globex close for the price of gold. Price moved higher in early evening trading Monday, sent sideways overnight and then did a rocket launch shortly after the Comex closed. Gold finished the day at $2787, up $22 from Monday. Silver had an even better day on a percentage gain basis. It rallied steadily shortly after midnight to close the afternoon session at $34.63, up 63 cents from Monday. The mining stocks took their cue from the action in the metals, with both the Arca Gold Bugs Index and GLD gaining 1.6%.
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 325,000 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…..
Newcore Gold announced additional drill results from its current drilling campaign at the Enchi Gold Project in Ghana. Highlights included .94 g/t Au over 54m from a depth of 150 m at the Boin deposit, which also included a 7m interval of 2.11 g/t starting at the beginning of the mineralization intercept. The same hole ended in mineralization outside the current limits of the pit constrained Mineral Resource Estimate. Other results included 1.44 g/t over 25m within oxides with another 7m of transitional material grading 2.26 g/t Au. There was also 1.25 g/t Au over 24m. These drill holes confirm continuity along strike and down dip for the two principal structure which comprise the Boin Gold Deposit. (TSX-V: NCAU, OTCQX: NCAUF) News Release
Fireweed Metals reported results of an additional nine drill holes this morning from the Boundary Zone at the Macpass Project in Yukon. Highlights include 106.85 m of 4.61% zinc, 0.52% lead, and 11.88 g/t silver and 54.58 m of 8.68% zinc, 3.68% lead, and 87.4 g/t silver from 311.5m downhole in hole 14. Hole 24 was a step-out and intersected 19.73 m of 9.40% zinc, 1.07% lead, and 49.7g/t silver. The holes reported today were ocated in the central portion of Boundary Zone and were targeting stratiform to massive sulphides, as well as vein and replacement mineralization with a focus on expanding mineralized domains and improving confidence in mineralized bodies. All holes reported this moring were successful in intersecting vein and replacement style mineralization, with NB24-006, NB24-014, NB24-021, and NB24-24 intersecting broad (>10 m true width) zones of massive to stratiform sulphides rich in sphalerite and galena. The Company has currently released 17 of 49 holes drilled in 2024. (TSXV: FWZ; OTCQX: FWEDF) News Release
Brixton Metals released additional drill results from the Trapper gold target on its Thorn Project in British Columbia. Hole 308 returned 77.25m of .9 g/t Au, which included 9.25m of 4.79 g/t and a 2.25m of 18.5 g/t. Hole 309 returned 28m of .7 g/t with a 6m interval of 1.24 g/t Au. The program was designed to test the extents and continuity of the main mineralized corridor along the Lawless Fault zone through a combination of infill and step-out drilling. Additional step-out drilling was completed north of the main zone, following-up on undercover mineralized zones that were identified during the 2023 drill program. (TSX-V: BBB, OTCQB: BBBXF) News Release
Cartier Resources reported new drill results from the new Portal Zone on the East Cadillac property in Quebec. Today’s results included 7.2 g/t Au over 8m which included a half meter of 26.2 g/t Au. Since march, drilling has discovered 5 new high-grade gold Zones on the East Cadillac property. Two drill rigs continue to explore high-grade gold targets along the regional Larder Lake - Cadillac Fault Zone. (TSXV: ECR) News Release
Signal Gold announced final assay results from its 5,179-metre diamond drilling program at the western extension of the Goldboro Deposit at its Goldboro Project in Nova Scotia. Five holes were reported this morning and included 7.56 g/t gold over 1.9 metres, 3.80 g/t gold over 3.0 metres and 2.61 g/t gold over 2.2 metres. (TSX:SGNL) (OTCQB:SGNLF) News Release
Elemental Altus Royalties has completed its acquisition of the additional 50% ownership of AlphaStream royalties, which was announced mid-month, for consideration of $28M paid in newly issued shares. And with that, major shareholders La Mancha have also exercised their anti-dilution rights for another 16 million common shares at a price of C$1.10 for aggregate proceeds of over $17M. Elemental is also welcoming Prashant Francis to its Board of Directors. Prashant is the co-founder and co-Chief Executive Officer of AlphaStream. (TSXV: ELE) (OTCQX: ELEMF) News Release
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