Morning Briefing: NGEx Minerals drills 51.10m at 13.84% CuEq at Lunahuasi
Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Ian Wagner
Its Wednesday, January 22nd.
Gold rallied yesterday on President Trump’s first full day in office. After a brief dip to 2730, gold rallied throughout the day to reach a high of 2760 and settling at 2758 February basis. Silver also rallied, closing near the highs of the day at 31.49 march basis. The dollar was down significantly on rumors that President Trump’s tariffs might be pared back. GDX curiously closed lower on very light volume. After opening higher, the ETF couldn’t hang on to its gains and closed down 15 cents from last Friday’s close.
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…..
NGEx Minerals drills 51.10m at 13.84% CuEq at Lunahuasi and adds two Additional Rigs. The company provided a second update on its ongoing Phase 3 drill program at the 100% owned Lunahuasi high-grade copper-gold-silver project in San Juan, Argentina. Drilling started in mid-October 2024, and six diamond drill rigs are currently working on the project. Recent partial drill results from five holes include the following highlights:
Drillhole 024 intersected:
7.40m at 5.8% copper equivalent from 715m
Drillhole 025 intersected:
29.80m at 4.80% CuEq from 369m
Drillhole 026 intersected:
21.50m at 3.07% CuEq from 529.20m, including:
And Drillhole 028 intersected:
205.35m at 5.08% CuEq from 378.50m (3.20 g/t gold), including:
51.10m at 13.84% CuEq from 464.30m (9.70 g/t gold), including
Due to positive initial results from the program, two additional drills are scheduled to be added in February, and the planned program has been expanded from 20,000m to 25,000m. NGEx trades on the TSX: NGEX OTCQX: NGXXF - News Release
Aztec Minerals Discovers Significant Silver-Gold Mineralization in First Pass Drilling of Westside Target Area at Tombstone Property, Arizona USA. The company announces initial results that showed several drillholes confirmed significant Silver-Gold oxide mineralization intersections for the geologically diverse, modeled targets.
Drillhole 13 intersected 33m of 22 gpt AgEq and 85m of 47 gpt AgEq
Drillhole 8 intersected 6 m at 105 gpt AgEq and 21m at 38 gpt AgEq
Drillhole 11 intersected 25m at 32 gpt AgEq
The Westside Target Area demonstrates potential for shallow Silver-Gold oxide mineralization similar to that of the adjacent Contention Target Area. Additional assays are pending. Aztec Minerals trades on the (AZT: TSX-V, OTCQB: AZZTF) - News Release
Allied Gold Announces Preliminary 2024 Fourth Quarter Operating Results Achieving Record Quarterly Production. The Company produced 99,632 ounces of gold in Q4, well in line with previously issued production guidance of 98,000 to 102,000 ounces. Fourth quarter production represents a 16% increase over the average production of the three previous quarters in 2024 and is the highest quarterly production achieved to date by the Company. At its Sadiola mine, increased production of 54,210 ounces was driven by a full quarter of production from Korali oxide ore of approximately 48,000 ounces. The Company has previously indicated that Korali is an interim step pending the completion of the first phase expansion at Sadiola to achieve consistent annual production of 200,000 to 230,000 ounces. The Company's cash balances, including year-end cash and proceeds from Korali gold sales immediately following year-end, are expected to exceed $340 million. While these post-year-end sales increase overall cash, the Company notes that, for accounting purposes, a working capital deficit will have been recorded as of year-end. This is due to certain payables being deferred pending the sale of a significant inventory of Korali gold. Allied Gold trades on the TSX: AAUC & OTCQX: AAUCF - News Release
Artemis Gold Commences Processing of Ore at the Blackwater Mine. The company announced that commissioning of the grinding circuit at the Blackwater Mine has advanced and the Company has commenced milling first ore this week. As announced in December 2024, the Company continues to target first gold pour during January 2025. Artemis trades on the TSXV: ARTG - News Release
Dynacor Group Reports Record Sales of for 2024. The gold ore processing company that services artisanal and small-scale miners, announced unaudited gold sales of $284.4 million for last year. The results compared to $250.2 million of sales for 2023, an increase of +13.7%. The Veta Dorada plant processed 12,200 tonnes of ore in December 2024 and cumulatively in excess of 150,000 tonnes for the new year. The company will release its 2025 financial guidance in February and its 2024 annual financial results at the end of March. Dynacor trades on the TSX-DNG - News Release
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That’s it for today everyone. Have a great day. Stay safe.
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