Morning Briefing: Vizsla Silver and Orezone Hit High-Grade in Infill Drilling Programs
Welcome to Mining Stock Daily. I’m Trevor Hall.
Today is Wednesday, June 12th.
Tuesday gold traded down to $2,315, August basis, one again starting when the Globex trading opened Monday evening. And once again the yellow dog started climbing higher shortly before China's markets closed. And once again gold was punked lower going into the London a.m. fix then headed higher into U.S. trading hours to as high as $2337 before bouncing around and closing in the afternoon at $2333 up 6 bucks from Monday. Silver, on the other hand, went off a cliff about an hour before midnight Monday, getting slammed down to $29.15, July basis. It then bounced around with brief pop up to $29.65 before fading and closing at $28.38, down 46 cents from Monday. The mining stocks decided to trade off the action in silver, with GDX down .8% and the Arca Gold Bugs index down 1.1%. The Mining Stock Journal commented that the metals will be volatile this week because of the Fed and for most of June and July because of seasonality. But it expects the general motion to be higher over the next several weeks.
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….
Vizsla Silver reported results rom 12 new drill holes targeting the Copala resource area at its 100%-owned, flagship Panuco silver-gold project in Mexico. These holes were designed to infill near-surface mineralization and successfully confirmed high-grade continuity throughout Copala. Today’s results included 1,503 g/t AgEq over 13m, 1,363 g/t over 8.7m and 2,872 g/t AgEq over 5m. Resource drilling at Copala has now traced mineralization along ~1,770 metres of strike length and ~400 metres down dip. (TSXV: VZLA) (NYSE: VZLA) News Release
Orezone published new drill results from the Bomboré Gold Mine located in central Burkina Faso. The results are from Orezone’s ongoing infill and advanced grade control program, which is designed to further delineate multiple high-grade structures within the Siga East and Siga South zones. Results included 113.74 g/t Au over 8.00m, 1.43 g/t Au over 38.00m and 4.59 g/t Au over 5.00m. Mining of higher-grade, free-digging oxides has now commenced at Siga East and mining is scheduled to commence at Siga South in Q4-2024. (TSX: ORE, OTCQX: ORZCF) News Release
Amex Exploration announced a new gold discovery in a never-before-seen lithology within the Beaupré Block of the Perron project in the Abitibi region of Quebec. The new zone, named the JT Zone, was found within a felsic to intermediate dike with various levels of sulfide mineralization containing gold grades. The JT Zone is located approximately 750 m to the north-northwest of the High Grade Zone and approximately 600 m to northwest of the Team Zone. The discovery was confirmed with the drilling of .91 g/t Au over 70.5m and .86 g/t over 49.5m. The Amex team believes this mineralized dike could potentially add some significant low-grade, bulk tonnage ounces to the existing resources at Perron. (TSXV: AMX) (OTCQX: AMXEF) News Release
Ero Copper has received the Operational License for the Tucumã Project, which is the last remaining permitting milestone for commercial operation. With physical completion at approximately 99%, commissioning well advanced, and over 90% of the operational staff hired and trained, first concentrate continues to be expected early in the third quarter of 2024. The total direct capital cost estimate for Project completion remains unchanged at approximately $310 million. (TSX: ERO, NYSE: ERO) News Release
Grande Portage Resources have published their updated resource estimate for the Herbert Gold Deposit in Alaska. Using a 2.5 g/t cutoff grade, its indicated resource now sits at just over 1.4M oz of gold at an average grade of 9.47 g/t and an inferred resource of 515K oz at an average grade of 8.85 g/t Au. Mineralization is open on all veins and uncorrelated intercepts located in sparsely drilled areas north and south of the Deep Trench Vein, and north of the Goat Hanging Wall Vein. (TSXV:GPG)(OTCQB:GPTRF) News Release
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