Morning Briefing: Treasury Metals + Blackwolf Copper and Gold Combine Forces, Li-FT Power Report 2023 Results

Welcome to Mining Stock Daily. I’m Kylie Williams

Today is Thursday, May 2nd. 

Ahead of the Fed policy statement announcement yesterday gold drifted lower overnight, dipping below $2300 briefly to $2292. However after midnight gold started grinding steadily higher back over $2300. As soon as the rather dovish FOMC policy statement hit the tape, gold shot up to as high as $2340 and it settled in the afternoon at $2340, June contract basis. Silver started grinding higher as soon as the Globex system re-opened Tuesday evening. It oscillated in an upward trend until the Fed rate decision was announced and then launched to as high as $27.25. It was bombed lower and settled at $26.95. The mining stocks were all over the map Wednesday. GDX traded as high as $34.20 and as low as $22.10. It closed at $33.3, up half a percent. This afternoon the Mining Stock Journal releases its newest issue with commentary on why the banks who are quite short gold may have a problem with those shorts. It also discusses one of its top junior project development picks, which just released eye-popping drill assays on its open-pit gold project.

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… 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 325,000 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…. Starting with lithium…

Li-FT Power report results from its summer 2023 exploration program at the Pontax Project and the Rupert Project, both in the James Bay region of Quebec. Pontax is comprised of 100%-owned ground and ground under option agreement with Harfang Exploration Inc. (“Harfang”). The summer 2023 surface exploration program was comprised of geologic mapping, prospecting, and glacial-sediment (till) sampling. Till samples were processed to look for spodumene grains within the till. The results at Pontax revealed a 13 km by 6 km anomaly that has spodumene grain counts similar to till down-ice of the Whabouchi lithium deposit, located approximately 2 km northeast of LIFT’s sampling. Additional spodumene anomalies were defined on the Rupert property where, importantly, background values have been well-defined. Lift trade (TSXV: LIFT)  (OTCQX: LIFFF) (Frankfurt: WS0) News Release

More news today from Patriot Battery Metals who announced that it has entered into a definitive agreement to increase its land position at its Corvette Property through the acquisition from Azimut Exploration of a 100% interest in a proximal claim block termed JBN-57, which is comprised of 39 claims (1,995.0 ha) located on trend with the Corvette Property. The Corvette Property, which is wholly owned by the Company, is located in the Eeyou Istchee James Bay region of Quebec. The CV5 Spodumene Pegmatite, with a maiden mineral resource estimate ("MRE") of 109.2 Mt at 1.42% Li2O inferred1, is situated approximately 13.5 km south of the regional and all‑weather Trans-Taiga Road and powerline infrastructure. Patriot trade (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA). News Release

Onto gold news, 

Snowline Gold announce the discovery of three new reduced intrusion related gold system (or RIRGS) targets at its Rogue Project and an additional new RIRGS target at its adjacent Cynthia Project in the Yukon Territory, Canada. Analytical results from the Company's 2023 surface exploration program demonstrate widespread gold mineralization and RIRGS pathfinder elements associated with intrusions of the Rogue Plutonic Complex, a 60 x 30 km geological feature which also hosts the Company's flagship Valley target. Results include outcrop chip sampling to 5.12 g/t Au over 3.3 m at the Livia target, and selective outcrop grab samples to 86.5 g/t Au at the Ramsey target. Snowline trade (TSX-V:SGD) (OTCQB:SNWGF) News Release

Switching to nickel now,

Talon Metals, the majority owner and operator of the Tamarack Nickel-Copper-Cobalt Project in central Minnesota, announced significant progress in its 2024 exploration plan, particularly focusing on an update to the drilling program in the "Raptor Zone". Highlights include 14 New Drill Holes that Intersect Nickel-Copper Mineralization, identification of one of the strongest borehole electromagnetic anomalies within the Raptor Zone to date and identification of Thick Nickel Mineralization Accumulation associated with a channel in the basal contact. Talon trade (TSX: TLO) (OTC Pink: TLOFF) News Release

And finally,

Treasury Metals and Blackwolf Copper and Gold announce that they have entered into a definitive arrangement agreement dated May 1, 2024 to combine the two companies to advance the Goliath Gold Complex Project in Ontario towards production with a strengthened leadership, balance sheet and capital markets team. The combined company’s Niblack Copper-Gold development project in Alaska and other exploration properties also represent promising upside projects for future growth. We’ll have more on this story later today. Treasury trade (TSX: TML; OTCQX: TSRMF) and Blackwolf trade (TSXV:BWCG; OTCQB: BWCGF) News Release

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