Morning Briefing: NGEx Minerals Drills 750.1m of 1.13% CuEq at Lunahuasi
Welcome to Mining Stock Daily. I’m Trevor Hall.
Today is Thursday, June 20th.
With the U.S. markets closed Wednesday, paper gold transactions were still being executed through the CME Globex computer trading system. The gold price traded sideways for most of the day though it rallied up to $2349 August basis before settling at $2342 down slightly from the Tuesday afternoon close. Silver, on the other hand, began a nice rally starting around the time silver trading would commence on the Comex. Poor man's gold ended up settling @9.81, up 22 cents from Tuesday's close. The U.S. stock market was closed and the volume on the TSX was light but it looked like the mining stocks were drifting lower in Canada. That said, the Mining Stock Journal believes the precious metals sector is set-up to move higher this summer
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… Fireweed Metals
Fireweed Metals is advancing 3 different projects within the Yukon and Northwest Territories, including the flagship Macmillan Pass Project, a large zinc-lead-silver deposit and the Mactung Project, one of the largest and highest-grade tungsten deposits in the world. Fireweed plans to advance these projects through exploration, resource definition, metallurgy, engineering, economic studies and collaboration with indigenous people on the path to production. For more information please visit fireweedmetals.com.
And here’s what you need to know this morning….
Dakota Gold says they have drilled through additional Homestake Mine-style gold mineralization within the ledges of the JB Gold Zone at the Maitland Gold Project in South Dakota. Drill hole MA24C-050 returned 9.46 grams/tonne (g/t) gold over 6.4 m. Drilling at Maitland continues to transition from wider spacing of approximately 250 meters, to tighter spacing to further delineate the mineralization within identified ledges, which remain open along strike and to depth. (NYSE American: DC) News Release
NGEx Minerals published new round of results last night after market close. Hole 20 intersected 750.1m at 1.13% CuEq while hole 22 726.5m at 1.66% CuEq. These results conclude the work from the 2023 and 2024 drilling program. The company says drilling this season has vastly improved their understanding of the key features of the Lunahuasi system and has begun to outline a very large volume of altered and mineralized rock which displays two distinct styles of mineralization stockwork and disseminated mineralization overprinted by high-grade structures. (TSX: NGEX) (OTCQX: NGXXF) News Release
Fortuna Silver published new drill results out of the Séguéla Mine in Côte d’Ivoire. At the Kingfisher prospect, drilling returned 23.7 g/t Au over an estimated true width of 17.9m and 6.4 g/t Au over an estimated true width of 19.6m. At Badior, drilling intersected 20.5 g/t Au over an estimated true width of 4.2 meters and 38.3 g/t Au over an estimated true width of 3.5 meters. Drilling at the Ancien deposit returned 27.4 g/t Au over an estimated true width of 5.6 meters. (NYSE: FSM | TSX: FVI) News Release
Abitibi Metals received the final results from their Phase I drill campaign at the B26 deposit. Highlights reported today included 0.75% CuEq over 57.75 metres beginning at 81 m depth and 3.97% CuEq over 9.75 metres beginning at 265.85 m depth. The Company is currently finalizing the Phase 2 drill program which will commence in July and target the expansion of the Deposit at depth and along strike. (CSE: AMQ) (OTCQB: AMQFF) News Release
Orecap Invest Corp says Cuprum drilled 114 metres of 1.1% CuEq and 231 metres of 0.74% CuEq from its Thierry copper project. Cuprum is a private company. Orecap is its largest shareholder. The K1 deposit has a current Inferred Mineral Resource (pit constrained) of 53,614,000 tonnes grading 0.38% Cu, 0.10% Ni, 1.8 g/t Ag, 0.03 g/t Au, 0.05 g/t Pt and 0.14 g/t Pd. News Release
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