Morning Briefing: Vizsla Silver Continues to Drill High-Grade at Copala
Welcome to Mining Stock Daily. I’m Trevor Hall.
Today is Wednesday, August 28th.
Yesterday, after a price beat-down in the paper gold market right after China closed, the yellow dog began a price rally shortly before the NYSE opened that took it from $2538 to afternoon Globex session settlement at $2560, up 7 bucks from Monday. The Mining Stock Journal noted that the rally in gold correlated with a chart cliff-dive in the dollar. Silver managed to shrug off repeated price-smash efforts and closed in the afternoon at $30.42, up 6 cents from Monday. The Mining Stock Journal commented that the 15 minute intraday chart of December silver looks like the EKG chart of a meth addict. The mining stocks were skeptical of the gold and silver rallies, as both GDX and the Arca Gold Bug Index closed down in the red.
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 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….
Vizsla Silver reported results from 22 new drillholes targeting the Copala resource area at the Panuco project in Mexico. The holes were designed to infill near-surface Indicated Mineral Resources. Results included 6,270 g/t AgEq over 6.25m, 1,212 g/t AgEq over 14.2m and 2,554 g/t AgEq over 13.3m. These results confirmed high-grade mineral continuity where initial mining is likely to occur during the first two years of production at Copala central. The company has commenced an additional 5,000m of drilling designed to both extend resources outboard of the current resource estimate and upgrade additional inferred resources at Copala. This additional drilling is expected to be completed by the end of September. (TSXV: VZLA) (NYSE: VZLA) News Release
Mako Mining provided results from additional exploration reverse circulation drilling at the Las Conchitas area on the San Albino gold mine. The main objective of the RC drill program is to test for possible extensions of the high-grade mineralization trends beyond the limits of the Company's most recent mineral resource estimate. Results included 82.55 g/t Au and 76.9 g/t Ag over 2m, 19.31 g/tAu and 43.4 g/t Ag over 4m, and 16.83 g/t Au and 26.4 g/t Ag over 6m. Reconnaissance work with channel and grab samples over the land package also offered positive results. At the El Golfo area, drilling returned 62.2 g/t Au and 71.2 g/t Ag over 1m. Santa Rosa returned 358.6 g/t Au and 87.9 g/t Ag over 1m. (TSX-V:MKO) (OTCQX:MAKOF) News Release
First Mining shared new drill results from its Phase 3 program at the Duparquet Gold Project in Quebec. Results were highlighted with 3.98 g/t Au over 8.7m and 1.82 g/t Au over 14.35m at the Valentre target. Drilling continues on priority targets at the Project where a second drill rig is planned to mobilize in September, allowing First Mining to test regional exploration targets while concurrently advancing recent exploration discoveries at the North Zone, Buzz and Valentre. (TSX:FF) (OTCQX:FFMGF) News Release
Red Pine Exploration published their updated mineral resource estimate for the Wawa Gold Project. This is the first resource since the company withdrew some assay data from the project earlier this year. This is the first resource on Wawa since 2019. The Resources now sits with an indicated resource of 14.7 Mt grading 1.8 g/t Au for 842,000 oz and an inferred mineral resource of 16.2 Mt of 1.6 g/t Au for 843,000 oz. This global resource is combined in both open-pit and underground operations. The updated MRE comprises a small portion of the Company’s land holdings and there remain numerous historic zones and high priority targets elsewhere on the Wawa Gold Project property. (TSXV: RPX, OTCQB: RDEXF) News Release
Rupert Resources announced that Mr. Graham Crew will be the new Chief Executive Officer and Director of the company come mid-October. Mr Crew will succeed James Withall, who joined the company as Chief Executive Officer (“CEO”) in April 2017 and has decided to step down. Mr Withall will continue to act as an advisor to the Company and the Board led Technical Committee ensuring a smooth transition for the incoming CEO, after stepping down from the Board of Directors. News Release
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