Morning Briefing: Vizsla Silver Reports Results on 27 New Drill Holes at Copala
Welcome to Mining Stock Daily. I’m Kylie Williams, filling in for Trevor Hall this week.
Today is Wednesday March 20, the first day of Spring.
Tuesday gold took a dive for roughly $14 overnight thru the Asian markets close. The Mining Stock Journal believes that it had nothing to do with the trading character of the eastern physical markets and more to do with a knee-jerk reaction by the digital paper gold trading hedge fund algorithms responding to the miniscule hike in the bank lending rate by the Bank of Japan. Make no mistake, Japan's real interest rates are still very negative, which is gold friendly.
After touching $2150 before the London a.m. price fix, gold shot back up to $2162 and settled at $2160 down $3 from Monday. Silver behaved a bit differently, peaking at $25.35 just after midnight and getting jack-hammered down to as low as $24.92 in mid-morning Comex trading. The poor man's gold bounced to settle $25.10. The Mining Stock Journal commented that it's potentially highly bullish that silver managed to fight off the attempt to take it below $25.
The mining stocks continue to discount Armageddon with the prices of gold and silver, as the GDX was down 2.3% Tuesday. The Mining Stock Journal averred that the valuations of good mining stocks relative to the prices of gold and silver is idiotic.
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… 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 from 27 new drill holes targeting the Copala resource area at its 100%-owned, flagship Panuco silver-gold project in Mexico. The reported drilling, designed to both infill and expand mineralization, successfully confirmed high-grade continuity throughout Copala and extended mineralization by ~100m down dip to the southeast. Highlights included hole CS-24-342 which returned 703 grams per tonne (g/t) silver equivalent (AgEq) over 6.00 metres true width - (487 g/t silver and 3.69 g/t gold - and included 1,327 g/t AgEq over 2.26 mTW - 832 g/t silver and 8.09 g/t gold). Vizsla Silver trade as (TSXV: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) News Release
Dakota Gold reported on assays from an additional eleven drill holes from the Maitland Gold Project in South Dakota. The results from these holes demonstrate continuity of the Tertiary epithermal gold mineralization in the Unionville Zone discovered at Maitland in drill hole MA22C-009 (3.57 grams/tonne Gold over 36.48 meters) and announced February 8, 2023. This type of mineralization was never pursued in the historical 40-million-ounce gold-producing Homestake Mine located approximately 3 miles to the south, and it represents an underexplored opportunity for the Company at Maitland and elsewhere on the Company's other project areas in the Homestake District. Dakota Gold trade on the NYSE American as DC. News Release
Talon Metals provided assay results from drillhole 23TK0447 located outside of the Tamarack Resource Area of their majority-owed and operated Tamarack Nickel-Copper-Cobalt Project in central Minnesota. Today's results include a 12.72 meter intercept of high-grade massive nickel and copper mineralization assaying 6.04% Ni and 2.68% Cu (7.5% NiEq) at a depth of 380.7 meters. In addition, drill hole 23TK0447 intercepted an additional 25.26 meters of disseminated sulphides at a depth of 435.6 meters. Talon currently has 4 rigs at the Tamarack Nickel Project, with 2 rigs drilling in the Raptor Zone, and 2 rigs drilling outside of the Tamarack Resource Area with the goal of further increasing the mineable resource tonnage. Talon Metals trade as TSX: TLO and OTC Pink: TLOFF. News Release
Graphano Energy reported initial assay results from the 2023-24 winter drilling program at its 100% owned Lac Aux Bouleaux ("LAB") Graphite Property that is situated adjacent to Canada's only producing graphite mine in Québec, the Lac des Iles Mine. The drilling program consisted of 13 drill holes totaling 1,034 metres. The four holes reported in this update were drilled as infill holes to confirm the historically defined graphite mineralization at the Pit Zone. The remaining drill program focused on graphite zone expansion, following up the new discovery of Zone 3 in early 2023 (see news release dated February 8, 2023). Pit Zone and Zone 3 are two of the eight prospective targets which have been defined on the LAB Property to date. Graphano Energy trade as (TSXV: GEL) (OTCQB: GELEF) (FSE: 97G0) News Release
Amex Exploration announced assay results from a metallurgical hole drilled down dip in the QF Zone that reported 3.43% Copper, 34.00 g/t Silver, 1.80% Zinc and 0.30 g/t Gold over 20.80 m. A secondary mineralized lens also returned 1.19% Copper, 7.44 g/t Silver, 0.15% Zinc and 0.11 g/t Gold over 15.70 m. The QF Zone sits approximately 200 m to the northeast of the Team Gold Zone and is a volcanic massive sulfide (VMS) body, which lies approximately 5 km from the past producing Normétal Mine. The QF Zone is one of Amex's most recent discoveries and was found within the same geological unit that hosted the Normétal Mine. The Perron project is situated approximately 120 km by paved highway from the Glencore Horne Smelter in Rouyn Noranda. Amex Exploration trade as TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) News Release
Champion Electric Metals announced that the drill crews have been mobilized and the Company has commenced its first drill program at its Lithium Property in James Bay, Quebec. The Property covers the northern extension of the Lac Guyer Greenstone Belt which hosts neighbouring Patriot Battery Metals' Corvette and Winsome Resources' Cancet Projects.The Company intends to complete up to 2,500 metres in this initial drill program, focusing on the Western Prospect. The recently completed gravity survey revealed a robust pegmatite target immediately up ice from previously reported spodumene discovery in till sample. The eastern part of the pegmatite target is only ~150m up ice from the spodumene-in-till discovery and extends in a broadly east-west orientation. Champion Electric Metals trade as (CSE: LTHM) (OTCQB: CHELF) (FSE: 1QB0) News Release
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