Morning Briefing: Vizsla Silver Drills 2,561 g/t AgEq over 2.4m at Napoleon
Welcome to Mining Stock Daily. I’m Trevor Hall.
Today is Wednesday, May 22nd.
Monday evening gold was hammered down to as low as $2410 but started moving higher in early Tuesday morning with immaterial volatility. The end result was a rally, excluding a short-lived post-a.m. London price fix price-hit, that took gold up to $2437 before it was pushed down into the Comex close to $2427. The price in the afternoon closed at $2425, down just $4 from Monday's afternoon settlement. Silver experienced an even bigger boomerang effect than gold, getting slammed from $32.70 down to $31.79. But poor man's gold shrugged off the paper avalanche and bounced to close at $32.25. The Mining Stock Journal commented that while it's expected that there will be official attacks on the prices of gold and silver in the paper markets, the intense demand in the eastern physical markets is creating a floor, for now,in the prices of gold and silver. That said, the mining stocks have a long way to go to catch up to the current prices of gold and silver.
We’ll get to the news out of the miners and explorers in just a quick 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. The Cactus Mine Project is located less than an hour's drive from the Phoenix International airport. 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….
Vizsla Silver published results from 16 new drill holes targeting the Napoleon Vein at the Panuco project in Mexico. Selected highlights included 2,561 grams per tonne (g/t) silver equivalent (AgEq) over 2.40 metres, 696 g/t AgEq over 6.50 m, and 4,533 g/t AgEq over 1.30 m. These results have expanded known zones of high-grade mineralization, proximal to potential development. Observations based on metal zonation and alteration continue to support the interpretation that the corridor is tilted, where the southern extent of drilling is at the top of the mineralized horizon, near surface. (TSXV: VZLA) (NYSE: VZLA) News Release
Li-FT Power published new drill results this morning from the Shorty, BIG East, Echo, Fi Main, & Ki pegmatites within the Yellowknife Lithium Project. Results included 35 m at 1.32% Li20 at Shorty, 11 m at 1.16% Li2O at Ki and 12 m at 0.82% Li2O at Echo. The Company concluded its winter drill program at the Yellowknife Lithium Project with a combined total of 286 diamond drill holes (49,548 m) completed between the summer and winter programs. (TSXV: LIFT) (OTCQX: LIFFF) News Release
Europacific Metals shared their initial assay results from the first drill hole, and the completion of the fifth drill hole of the 2024 exploration program at the Miguel Vacas mine area located in Portugal. The first hole returned better than expected results including a continuous intercept of 22.8m grading 2.76 % Cu, including 9.0 meters grading 7.49 % Cu. The hole was collared near the southern limit of the old open pit. A total of 5 holes have been completed to date and all intercepted the main cupriferous breccia/shear. The sixth hole is now in progress, and it is the southernmost drilled to date by EuroPacific.n The 2024 drill program is now in the middle of the 1,500 meters campaign with the objective of further defining a shallow open pit resource of oxide Copper mineralization recoverable by hydrometallurgical methods. (TSXV:EUP)(OTCQB:AUCCF) News Release
Altamira Gold published results from 12 drillholes this morning from the Maria Bonita gold discovery and the Cajueiro project in Brazil. MBA029 returned 146m @ 1.0 g/t gold from 23m depth in hydrothermally altered rhyolite intrusive rocks. This interval is part of a wider zone of mineralization with the entire hole returning 213m @ 0.8 g/t gold and terminating in mineralization, indicating the mineralized body remains open at depth. Other results included 90m of .6 g/t Au and 105m of .5 g/t. News Release
Golden Shield Resources also published positive gold exploration drill results this morning. These are the final results from its diamond drilling campaign at the Marudi Mountain Property. At Mazoa Hill, Golden Shield sought to test the deposit in a previously undrilled direction while simultaneously testing its depth extension. Hole MH24-40 intersected 23m grading 4.16g/t gold from 254m and 12m from 287m grading 6.74g/t gold. (CSE: GSRI) (OTCQB: GSRFF) News Release
Faraday Copper is financing with a $20M bought deal. A consortium of underwriters have agreed to purchase 25m shares at a price of C$0.80 per Common Share. The Company intends to use the net proceeds from the Offering for exploration and development of its Copper Creek Project, located in Arizona, U.S., and for general working capital purposes. (TSX:FDY) (OTCQX:CPPKF) News Release
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