Morning Briefing: SSR Acquires Cripple Creek & Victor; Southern Cross Hits Jaw-Dropping Gold Intercept

Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Trevor Hall

Gold closed the week down 8/10ths of a percept, closing Friday’s front month contract at $2659 per ounce. It did bounce of the weeks lows however as it continues to consolidate well above its lows from the previous month. On the other hand, silver closed the week up at $31.59 per ounce, that was a gain 1.5%, and that momentum is continuing this morning as it is up another 2.7% to 32.44 per ounce. Copper is also on the move this morning, up over 2% to 4.28 per lb. There was news out of the copper market last week, triggering some speculation on the demand for copper concentrate, as Antofagasta agreed to 2025  treatment charge of $21.25 and refinement charge of 2.125 cents with Jiangxi Copper, well below 2024’s benchmark of $80 per tonne/8.0 cents per lb.

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….. 

Lundin  Mining has signed a definitive agreement to sell its Neves-Corvo operation in Portugal and Zinkgruvan operation in Sweden to Boliden for up to $1.52 billion in total consideration.  Lundin Mining will receive upfront cash consideration of $1.37 billion upon closing and up to $150 million in contingent cash considerations. Those considerations include up to $100 million in contingent payments at Neves-Corvo is tied to underlying copper and zinc prices and up to $50 million in contingent payments at Zinkgruvan is tied to underlying zinc prices. The Transaction is anticipated to close in mid-2025. (TSX: LUN) News Release

Newmont has sold the Cripple Creek and Victor Gold Mine in Colorado to SSR Mining in an all-cash deal for $100 million in upfront consideration and up to $175 million in additional milestone-based payments. CC&V is expected to add approximately 170,000 ounces in annual gold production to SSR Mining’s platform and, combined with Marigold, the Company’s total U.S. gold production is expected to average between 300,000 - 400,000 ounces annually. The Transaction is expected to close in the first quarter of 2025. (Nasdaq/TSX: SSRM; ASX: SSR) News Release

Brixton Metals published new drill results from the Thorn Project and included 647.83m of .49% CuEq in hole 307. In addition to broad intervals of porphyry-style mineralization, a shallow gold dominant zone hosting high-sulphidation style mineralization was observed from 83.50m to 198.00m depth returning 4.52 g/t Au over 8.00m within 26.00m of 1.89 g/t Au, all within a broader 114.50m interval of 0.53 g/t Au. Future exploration efforts will aim to further define high-grade zones within the Camp Creek porphyry as well as determine the potential for significant high-sulphidation gold mineralization. (TSX-V: BBB, OTCQB: BBBXF) News Release

Q2 Metals published assay results from its 2024 drill campaign at the Cisco Lithium Property  in the eyou Istchee James Bay region of Quebec. Hole 22 linked the downdip continuity of the deposit with multiple intervals of mineralization, including 55.8m of 1.6% Li2O, 52.3m of 1.78% Li2) and 47.2m of 1.55%. Hole 23’s widest interval returned 188.6m of 1.56% and included 26m of 2.03% Li2O. A total of 6,359.7 metres ("m") was drilled over 17 drill holes during the 2024 drill campaign at the Cisco Property. Results for drill hole CS-24-020 remain pending. (TSX.V:QTWO) (OTCQB:QUEXF) News Release

Mawson Gold announced Southern Cross Gold published new drill results from the Apollo Prospect on the Sunday Creek Gold-Antimony Project in Victoria, Australia and delivered another significant discovery of 186m of 8.8 g/t Au which included a half meter of 2,541 g/t. These intersections rank among the most impressive gold intercepts reported globally. 14 holes from the current campaign remain pending. Mawson owns just less than half of Southern Cross Gold, valuing its position at over CAD$300M. (TSXV:MAW)(OTC PINK:MWSNF) News Release

Kenorland Minerals announced results form its regional exploration campaigns which covered the Flora, Western Wabigoon, Algoman, and Stormy Lake Projects in Northwestern Ontario. Kenorland completed first pass property-wide till geochemical surveys, with the collection of approximately 12,200 till samples systematically screening roughly 263,500 hectares of land across the four projects. Multiple priority target areas have been identified, demonstrating the effectiveness of the Company's exploration strategy to generate new targets in underexplored areas within the greenstone belts of the Western Wabigoon and Marmion geological subprovinces. A 2% net smelter return royalty on the Flora, Algoman and Western Wabigoon Projects have been granted to a Kenorland subsidiary. (TSXV: KLD) (OTCQX: KLDCF) News Release

Elemental Altus Royalties have published its Annual Asset Handbook, which features the newly acquired assets from AlphaStream and provides projects updates from the past 12 months. The handbook can be found at elementalaltus.com. 

The Mining Stock Daily morning briefing is produced by Clear Commodity Network. It is distributed throughout the world through your podcast network of choice, and by our friends at the Junior Mining Network. 
The information presented should not be considered investment advice. Mining stock daily and its affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein. Please do your own research or speak with a licensed financial representative before making any investment decisions.