Morning Briefing: Premium Nickel Drills 102m of 2.23% NiEq
Welcome to Mining Stock Daily. I’m Trevor Hall.
Today is Tuesday February 13th.
Monday gold drifted sideways overnight from Friday's close until, of course, the Comex opened and gold was paper-slammed as much as $16. The yellow dog bottomed at $2,025 and rose steadily until the afternoon settlement, closing at $2,032, down $6 from Friday. Silver, on the other hand, rose steadily overnight, rising as much as 47 cents from Friday's close. But silver was not spared when the Comex opened and was monkey-hammered from $23.13 to $22.57 before bouncing to close at $22.77, up 11 cents from Friday. The Mining Stock Journal commented that $23 and $2100 still seem to be a stout line in the sand for the price management team. It added that silver seems perky and feels like it could launch at any time. The mining stocks took their cue from the silver, with the mid and large caps rising somewhat per GDX, which was up 1.3%. However, money seemed to be allergic to the junior project development stocks which were largely red across the board.
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… Arizona Sonoran Copper.
Arizona Sonoran Copper Company (ASCU:TSX) is focused on developing its brownfield copper project on private land in Arizona, a tier 1 location. The Cactus Mine Project is located less than an hour's drive from the Phoenix International airport via highway i-10, and with grid power and the Union Pacific Rail line situated at the base of the Cactus Project main road. With permitted water access, a streamlined permitting framework and infrastructure already in place, ASCU's Cactus Mine Project is a lower risk copper development project in the infrastructure-rich heartland of Arizona.For more information, please visit www.arizonasonoran.com.
And here’s what you need to know this morning….
I-80 Gold published new drill results from the ongoing underground program at the McCoy-Cove Property in Nevada. The new results are from drilling completed in 2023 designed to define the Helen Zone, the first horizon expected to be accessed at the Cove Mine. The program continues to confirm high-grade mineralization over appreciable thickness, with several holes intersecting multiple lenses in the western-most extremity of the deposit. New results reported today included 14.4 g/t Au over 20.2m, 12.7 g/t over 24.4m and 10.2 g/t over 7.9m. The program being completed will consist of approximately 120 holes comprising more than 40,000 m of drilling on approximate 30 metre spacing in advance of an updated resource estimate and economic study. (TSX: IAU) (NYSE: IAUX) News Release
Li-FT Power reported assay results form 8 drill holes from the BIG West, Nite and Ki pegmatites within the Yellowknife Lithium Project this morning. Highlights included 11m of 1.52% Li2O at Nite and 12m of .64% at Ki. All eight holes described in the news release were drilled broadly perpendicular to the dyke orientation so that the true thickness of reported intercepts will range somewhere between 65-100% of the drilled widths. LIFT has reported results from 182 out of 198 diamond drill holes. (TSXV: LIFT) (OTCQX: LIFFF) News Release
Premium Nickel reported additional assay results from drilling at the Selebi North underground mine in Botswana. Highlights include 36.35m of 1.64% NiEq and 102m of 2.23% NiEq. The purpose of this drill program is to define mineralization down plunge of the existing workings that will be used to complete a Mineral Resource Estimation. Three drills are currently active, two on the 810mL Exploration Drift and one on the 935mL Exploration Drift. (TSXV: PNRL) (OTCQX: PNRLF) News Release
Vizsla Silver published new drill results from the La Luisa Vein on the Panuco project in Mexico. These latest results are highlighted with 1.3m of 498 g/t AgEq, 4.6m of 264 g/t AgEq and .85m of 652 g/t AgEq. Surface mapping and sampling along strike to the northwest at La Luisa confirmed a wider vein expression with higher silver and gold anomalies at surface supporting the hypothesis that mineralization is tilted in a similar fashion to Napoleon. (TSXV: VZLA) (NYSE: VZLA) News Release
G2 Goldfields reported new assay results from the company Northwest OKO Propsect in Guyana. Holes drilled late last year on this Prospect returned 47.5m of .6 g/t Au, 10.3m of 3.7 g/t and 15m of 6.3 g/t. NW OKO is the third discovery on G2’s 27,719-acre project and is part of a 17-km-long mineralized corridor that hosts numerous historical gold workings. (TSXV: GTWO; OTCQX: GUYGF) News Release
Bravo Mining published assay results from nine diamond drill holes from the Central Sector of its Luanga palladium, platinum, rhodium, gold and nickel project in Brazil. Highlights today included 42m of 2.97g/t PGM+Au, 0.30% Ni including 26m at 4.31g/t PGM+Au, 0.38% Ni. This extends known mineralization to approximately 400m below surface. A total of 257 drill holes have been completed by Bravo to date, for 55,683.25 metres, including 8 metallurgical holes. 29 completed holes are awaiting results. (TSXV: BRVO) (OTCQX: BRVMF) News Release
Defense Metals provided an update on metallurgical work being done for the Preliminary Feasibility Study in the works. Multiple bench-scale flotation and flotation pilot plant test work resulted in the production of a high-grade mineral concentrate containing 50% Total Rare Earth Oxide (TREO) with an 80% recovery rate, which will be included in the PFS for the first 8 years of mine-life. Bench-scale and hydrometallurgical pilot plant test work shows that the planned acid bake process will deliver approximately 90% TREO extraction from the mineral concentrate to a Mixed Rare Earth Carbonate product. The PFS plant flowsheets are completed, based on the metallurgical test work, and equipment specifications have been issued to vendors for cost quotations. The PFS is expected to be published in the second quarter of this year. (TSXV: DEFN) (OTCQB: DFMTF) News Release
Meridian Mining announced results from its first Bore Hole Electromagnetic surveys ("BHEM") at its Santa Helena high-grade deposit. BHEM has modelled conductive plates as down-dip extensions of high-grade Cu-Au-Ag & Zn mineralization recently reported by the Company. This plate projects past the modelled limits of Santa Helena's Exploration Target, expanding the potential footprint of future drill targets. The BHEM program commenced at the western limit of Santa Helena and is progressing eastwards and will test for further in-hole and off-hole responses to target sulphide extensions. (TSX:MNO)(OTCQB:MRRDF) News Release
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