Morning Briefing: Osino Drills Best Hole to Date at Twin Hills

Welcome to Mining Stock Daily. I’m Trevor Hall. 

Today is Wednesday November 1st. 

Tuesday gold grinded steadily higher overnight during the physical gold accumulating eastern hemisphere trading hours. The gold price then received its obligatory Comex open paper dumping price hit before spiking up to as high as $2,018 per ounce by mid-morning. But alas, as the Mining Stock Journal points out, there was no way that the price management team would let gold close at $2,000 or higher on a monthly basis for the first time ever. Thus, the price was shoved off the cliff, to ensure that the price was below $2,000. It settled at $1,993 at the Comex close. 

Silver followed the same price path as gold, trading up during the real precious metals market trading hours. But as with gold, silver was hammered down below $23 per ounce to as low as $22.85 before bouncing to settle the afternoon session at $22.96, albeit below $23 for monthly basis purposes. 

Despite a big rally in the stock market, the mining stocks on Tuesday were hammered lower, with the GDX taxed for 2.6%.  The mining stock journal pointed out that, after the 15% run up in the GDX during October, it's natural for the sector to pull back in order to set up the next move higher.

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… 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….

Osino Resources reported results from the recently completed infill drill program at the Twin Hills Gold Project in Namibia including its best hole drilled to date with an intercept of 61m at 3.21g/t in hole 93. The company completed 110 RC holes at a tight spacing of 12.5m x 12.5m over an area representing about 1 year of open pit mining. Assays from 50 of the 110 holes are still to be reported. Similar tightly spaced infill drilling at Clouds and Twin Hills Central pits is ongoing with the objective of converting the first 2 years of mining from Indicated to Measured resources, which is expected to be completed before year-end. Twin Hills is a pre-construction open pit gold project with a M&I resource of 2.94moz at 1.08 g/t. Osino Resources (TSXV:OSI) (OTCQX:OSIIF) news release

Silver Tiger Metals announced a PEA for its El Tigre silver-gold Project in Sonora, Mexico for a 36,000tpd conventional open pit mining development of the Stockwork Mineralization Zone. The project would produce 4.6Mozpa of silver equivalent of 59,000oz of gold equivalent over 13-years. It will yield an after-Tax net present value of US$287 Million at a 5% discount rate and IRR of 55.8% with a 1.7 years payback period following an initial capital investment of $59 million, using a $23.75/oz base case silver price and $1,850/oz gold price. Silver Tiger will now advance towards a PFS and making a construction decision. Silver Tiger Metals (TSXV:SLVR) (OTCQX:SLVTF) news release

Cassiar Gold announced  assay results from an additional eight diamond drill holes from its recently completed 2023 exploration program. Today’s results are from the Main Mine and Bain targets located in the Cassiar South area of the Company's flagship Cassiar Gold Property in northern British Columbia. Drill hole 23MM-004 at the Main Mine area intersected a broad mineralized intercept of 237.6m of .67 g/t Au. This hole extends mineralization to vertical depths 150m beyond the extent of intercepts identified last year. (TSXV: GLDC) (OTCQX: CGLCF) News Release

Newcore Gold has commissioned an updated preliminary economic assessment study for th Enchi Gold Project in Ghana. The PEA will incorporate the Resource Estimate completed in 2023, as well as the significant metallurgical testwork completed since the last study in 2021. The study will be led by Lycopodium, who will conduct a process plant and infrastructure evaluation using their knowledge on operating Ghanaian gold projects. Micon is providing mine design and environmental services with mineral resource assessment supplied by SEMS Exploration. The combined study team has significant experience in development of not only PEA studies, but also subsequent studies and services including construction and operation. (TSX-V: NCAU, OTCQX: NCAUF) News Release

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