Morning Briefing: Western Alaska Minerals Extends Mineralization at Waterpump Creek

Welcome to Mining Stock Daily. I’m Trevor Hall. 

Today is Thursday July 6th. 

Gold has spent the first couple trading days of July attempting to climb itself up from its oversold condition. The second quarter didn’t fair well for the metal as it touched that $1900 level. But this acted as support and the yellow dog quickly found buyers from there. The first week of July saw gold little changed in price, currently trading around that $1933 per ounce level. Silver on the other hand is outperforming gold has its seeing 4 straight green days in a row after hugging its 200 day moving average late last month. It has added more than a dollar to its price over the past couple of weeks, currently trading at 23.42. 

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…Arizona Sonoran Copper.

ASCU is an early-stage copper developer and explorer of the Cactus Mine and its satellite project, Parks/Salyer, both situated on a 4km mine trend on private land in Arizona’s porphyry copper district. Opportunity for significant growth and scale exist along the mine trend, while future capex requirements outlined in the Cactus PEA benefit from significant onsite and nearby access to infrastructure. The Company is led by an executive management team and Board which have a long-standing track record of successful project delivery in North America. For more information, please visit www.arizonasonoran.com.

And here’s what you need to know this morning….

Western Alaska Minerals says it has extended the known mineralization at Waterpump Creek in Alaska. Step-out drilling has hit thick multi-stage massive sulfides. Hole 30 hit two zones of sulfide and oxides and extends the WPC zone 45m south. Hole 32 has confirmed the location of the Illinois Creek Fault which potentially offsets the southerly continuation of the WPC-Last Hurrah mineralization to the west. The company’s infill drilling program also is continuing to find success. Specifically, hole 29 intersected three zones of mineralization, and is representative to previous hole 18, which intersected 101.7m of 160 g/t silver and 18.5m grading 355m last year. Thus far, five holes have been drilled totalling over 1,700m. Two rigs are currently turning on the "Last Hurrah" target to the south, exploring for the fault offset of the Waterpump system. (TSXV:WAM) News Release

Provenance Gold says first drilling program at its Eldorado gold project in Malheur County, Eastern Oregon has returned significant gold assays within the first three holes drilled. The program is being drilled to confirm historic drilling and to test the open-ended gold system. Highlights came from hole 2 which tested one of several undrilled locations within the historic area of mineralization. This was a vertical hole drilled to 128 meters, where it bottomed in strong mineralization but averaged just over 1 g/t gold throughout the hole with the best assay interval being 20.24 g/t gold over 1.5m. Hole 3 averaged 140m of 1.3 g/t gold within a 23m interval of 4.59 g/t. (CSE: PAU) (OTCQB: PVGDF) News Release

Enduro Metals says field crews have begun geophysical, geochemical, and geological mapping surveys at the Company's Newmont Lake Project, located in the heart of British Columbia's Golden Triangle. Fieldwork during the first phase of the 2023 exploration season continues to build on initial results from a late-season geochemical and geophysical survey at North Toe. North Toe is a copper-gold porphyry target previously covered by a rapidly retreating glacier west of the target. North Toe sits approximately 8km northeast of Burgundy Ridge, and is believed to be part of a recently identified 20km structural corridor controlling copper-gold mineralization known as the Copperline. (TSXV: ENDR) (OTCQB: ENDMF) News Release

Discovery Silver has released its 2022 Environmental, Social and Governance report. A few highlights shared in the report included $25.9 million in goods and services purchased from local Mexican businesses and $3.8 million in salaries and benefits paid to local employees. The company also reported zero environmental incidents and zero fatalities with only 1 reportable incident. The full report can be found on the company’s website at discoverysilver.com. (TSX: DSV, OTCQX: DSVSF) News Release

Meridian Mining has completed the fourth installment payment for the acquisition of 100% interest in the company’s Cabaçal Copper‐Gold Project in Brazil. The Vendors of Cabaçal elected to receive 1,000,000 common shares of the Company in lieu of a cash payment of C$300,000 for the Fourth Payment. In accordance with the applicable securities regulations and policies of the Toronto Stock Exchange, the common shares issued to Vendors pursuant to the Agreement are subject to a statutory four month and a day hold period. (TSX:MNO) (OTCQX:MRRDF) News Release

Bluestone is said to be in the process of exploring and evaluating potential strategic alternatives to further advance the Cerro Blanco gold project and Mita geothermal project. These alternatives could include, among other things, the sale of part or all of the assets of the Company, a sale of the Company, a merger or other business combination with another party, or other strategic transaction. The Company has not set a timetable for this process, nor has it made any decisions related to any strategic alternatives at this time. (TSXV: BSR) (OTCQB: BBSRF) News Release

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