Morning Briefing: Vizsla Silver Makes New Discovery, Revival Publishes the Mercur PEA
Good morning and welcome to the Mining Stock Daily Morning Briefing.
It's Monday, March 31st.
On Friday, the front month futures contract jumped to June and gold opened its trading with a gap up over 3,100 per oz and didn’t let up. The day closed up 1.7% where is ended its week at 3,114 per oz. Silver remains in the backseat of gold’s impressive run. It was down on Friday 7/10ths of a percent closing the week at 34.81 per oz. But once again the chart trend on Silver is a traders friend, as it continues to make higher highs and higher lows. The gold miners continue to find stiff resistance at the $45 area on the GDX chart while most of the major markets on Thursday and Friday ran for the hills in anticipation of more volatility and economic concerns as American steps towards a regime of tariffs this week. Gold continues to outperform pre-market this morning as it continues to climb a wall of worry with another 1.3% gain.
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…Calibre Mining.
Calibre is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Newfoundland & Labrador in Canada, Nevada and Washington in the USA, and in Nicaragua. The company recently announced a deal to merge with Equinox Gold. The transaction will create an Americas-focused diversified gold producer with a portfolio of operating mines in five countries anchored by two high-quality, long-life, low-cost Canadian gold mines, Greenstone and Valentine. You can learn more at https://www.calibremining.com/
And here’s what you need to know this morning…..
Vizsla Silver announced a new discovery from its ongoing exploration drill program on the flagship Pauco silver-gold project in Mexico. The discovery comes from the La Pipa target along the Animas vein system. The discovery was made in hole AM-25-90, marked by several high-grade intervals contained within a broader envelope of precious metals mineralization. Those interval included 5.85m of 897 g/t AgEq and 2.6m of 568 g/t AgEq. The discovery is located approximately six kilometers to the northeast of the Copala resource area, situated along the Animas Vein system below known historic mine workings. The team is evaluating plans to follow up with further drilling. (TSX: VZLA) (NYSE: VZLA) News Release
Revival Gold published the results from a preliminary economic assessment on the company’s Mercur Gold Project in Utah. The economics of Mercur are estimated to have an NPV of $294M and an after-tax IRR of 27% using a base-case $2,175/oz gold. The report highlights a life-of-mine production of 65.6Mt of mineralized material at .6 g/t Au with a 75% recovery generating just over 95,000 ounces of gold per year for a 10-yer mine life. All-in sustaining costs of Mercur are estimated to be $1,363 per oz for life of mine. Given its position on private land, the company expects a two year runway to complete applicable baseline studies and mine permitting. (TSXV: RVG, OTCQX: RVLGF) News Release
Magna Mining published new assay results from the producing McCreedy West Mine and the adjacent Levack Mine. Drilling at McCreedy West was focused on the 700 Footwall Cu-PGE zone resource expansion and definition in support of mid-term production planning, and targeted areas near historical mining. Highlights there included 4.4% Cu, 0.6% Ni, 13.8 g/t Pt + Pd + Au over 18.0 metres and 8.7% Cu, 0.3% Ni, 32.8 g/t Pt + Pd + Au over 3.2 metres. Drilling at Levack was targeting the near surface Keel Footwall Cu zone and returned 12.2 % Cu, 0.5% Ni, 2.8 g/t Pt + Pd + Au over 3.4 metres. (TSXV: NICU) (OTCQB: MGMNF) News Release
American Pacific says they have updated permit approval corresponding to a focused 3,000 metre drill program at its Madison Copper-Gold project located in Silver Star, Montana, which is expected to commence in early Q2/2025. The drill program will test two porphyry targets, multiple skarn extensions and high-grade fault systems. Central to the Company's exploration strategy is the Silverstar Fault Complex, a significant structural feature that underpins the district-wide drilling program. This fault complex has emerged as a critical control on mineralization, offering insights into the architecture of the Madison Project. Induced Polarization (IP) surveys have revealed compelling geophysical anomalies along the fault system, identifying highly prospective zones of chargeability and resistivity. (CSE: USGD) (OTCQX: USGDF) News Release
And after closing its $19.5M bought deal, Heliostar has announced an aggressive drill program for the Ana Paula deposit. The 15,000m program will infill the current resource, step out to expand its boundaries and explore untested areas on the property. The 2023 resource estimate highlights a number of poorly defined high-grade gold intercepts. These intercepts model as discrete zones of high-grade mineralization but remain poorly defined due to a lack of drilling. Heliostar believes these may be repetitions to the north of the interpreted east-west fault controls that host the High Grade Panel and Parallel Panels. They represent excellent exploration targets for the growth of the Ana Paula deposit. (TSXV: HSTR) (OTCQX: HSTXF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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