Morning Briefing: Western Alaska Minerals Reports Promising Gallium Grade from Zinc Concentrate
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall
It's Thursday, April 10th.
Another historic day in market history yesterday as the S&P 500 Index experienced a historic surge, closing up 9.52% at 5,456.90, marking its largest single-day gain since October 28, 2008. This rally was driven by President Trump's announcement of a 90-day pause on new tariffs for most countries, coupled with a temporary reduction to 10%, while simultaneously increasing tariffs on China to 125%. The Dow Jones Industrial Average also saw a record-setting increase, jumping nearly 3,000 points, while the Nasdaq Composite rose 12%, its best performance since 2001. It was obvious the administration needed to pivot or face the consequences of losing the bond market given its reactions since Sunday evening. Gold rallied on the day and closed below its highs on the day at $3,079/oz, that was a gain of 3%.
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…Integra Resources.
Integra is a growing precious metals producer in the Great Basin of the Western United States. Integra is focused on demonstrating profitability and operational excellence at its principal operating asset, the Florida Canyon Mine, located in Nevada. In addition, Integra is committed to advancing its flagship development-stage heap leach projects: the past producing DeLamar Project located in southwestern Idaho, and the Nevada North Project located in western Nevada. Learn more about the business and their high industry standards over at integraresources.com
And here’s what you need to know this morning…..
XXIX Metal Corp announced results of two drill holes form its 15-hole, 2,100 metre drill program on the Saddle Zone with in the Openiska Project, including 57.3 metres of 0.99% Cu and 0.308 g/t Au from 23.7 metres in hole OPM-25-294, and 0.87% Cu, 0.139 g/t Au over 45.0 metres from 19.5 meters in hole OPM-25-293. The Saddle Zone remains the most underexplored area within Opemiska's current open-pit model, as outlined in the January 2024 mineral resource estimate. Due to the complex vein orientations, targeting has been challenging, and much of the zone was previously classified as waste. However, recent results are beginning to demonstrate that this area could, in fact, be materially significant. (TSXV: XXIX) (OTCQB: QCCUF) News Release
Western Alaska Minerals says significant gallium values were identified in their high-grade zinc concentrates generated through recent first-pass metallurgical test work on mineralized materials from the Waterpump Creek Inferred Resource at its 100% owned Illinois Creek Project in western Alaska. This marks the Company's first report of gallium - which has been designated the United States' #1 critical mineral¹ due to its high risk of supply disruption. Gallium values ranging from 63.8 to 116 ppm were reported in assays of zinc concentrates grading 53 to 58% zinc, generated from sulfide-rich drill core composites ranging from 14.5 to 23.7 ppm gallium head grade. Individual assay results outside of these composites range from 41.1 to 63.9 ppm gallium. Analyses confirm that gallium resides within the zinc mineral sphalerite. (TSXV:WAM) News Release
Onyx Gold announced new drill results form hole 163 at the Argus North Zone on the Munro-Croesus Project east of Timmins, Ontario. The hole returned 3.4 g/t Au over 69.6 m, including a high-grade subzone of 13.9 g/t Au over 9.5 m. Available data suggests the new zone is near-vertical and sub-parallel to the east-west trending main Argus Zone, which is a separate 750 m x 200 m near-surface bulk tonnage target situated along the Pipestone Fault. Immediate follow-up plans include step-out drilling along strike, and up-dip to extend the new zone to surface, and down-dip to trace high-grade zones to depth. Plans also include re-entering and extending drill holes MC23-140 and MC24-164, both of which stopped short of the down-dip projection of the zone. (TSXV: ONYX) (OTCQX: ONXGF) News Release
Headwater Gold announced the acquisition of the Whiskey gold project located in Mineral County, Nevada. Whiskey is an epithermal gold project situated in the highly endowed Walker Lane belt near Headwater’s Spring Peak and Lodestar projects, which are being advanced through earn-in agreements with Newmont. Recent rock chip sampling by Headwater returned gold grades of 19.2 g/t Au, 18.5 g/t Au and 14.6 g/t Au from the High Proof target with no known drilling ever completed in the area. Historical shallow drilling at the East Rye and West Rye targets intercepted broad zones of epithermal gold mineralization, including 59.7 metres grading 0.85 g/t Au and 10.7 metres grading 0.52 g/t Au. (CSE: HWG) (OTCQB: HWAUF) News Release
Fortuna Mining published their production numbers for Q1 this morning. Gold equivalent production reached 103,459 ounces. Although the numbers are less than both Q1 and Q4 numbers from 2024, the company has reiterated 380,000 and 422,000 GEOs, including lead and zinc by-products. News Release
Wesdome says they produced 45,692 ounces of gold in Q1, that is a 37% increase over Q1 in 2024. The company expected a second-half weighted production profile with the fourth quarter project to account for about 30% of its guidance. News Release
The Mining Stock Daily morning briefing is produced by Clear Commodity Network. It is distributed throughout the world through your podcast network of choice, and by our friends at the Junior Mining Network.
That’s it for today everyone. Have a great day. Stay safe.
The information presented should not be considered investment advice. Mining stock daily and its affiliates are not responsible for any loss arising from any investment