O3 Mining Releases PEA for Marban

Welcome to Mining Stock Daily. This is your host, Trevor Hall

Today is Tuesday, September 8th.

On Friday December gold was banged down to as low as $1922 after the U.S. Government released it's monthly comedy script also known to some as the non-farm payroll report. The Mining Stock Journal said that it is a monthly ritual for the Comex banks to unload a paper gold bomb when the payroll report hits the tape. Gold quickly rebounded and clawed back most

of the price hit to settle down slightly from Thursday.  Silver followed the same price path as gold on Friday. On Monday, with the U.S. markets closed, both gold and silver finished largely unchanged from Friday. GDX on Friday flash crashed below its 50 day moving average but rebounded smartly to close just above the key moving average but down 1% from Thursday. The Mining Stock Journal said that the precious metals sector, for the most part, has worked off the overbought technical condition that had developed since mid-July. The newsletter added that it expects a big move higher to commence sometime in the next 2-3 weeks.

 

We’ll get to the news out of the miners and explorers here in just a quick moment, but first a quick mention of today’s sponsor. 

This episode of Mining Stock Daily is brought to you by… Corvus Gold.

Corvus is an advanced gold-silver exploration and development company focused on the North Bullfrog and Mother Lode Projects in Nevada. The company has been named a Top Five TSX gold equity performer Four of the last Seven years & a multi time top 50 OTCQX performer. Corvus Gold trades on the Toronto Stock Exchange and now on the Nasdaq with the symbol KOR. Follow all the news from Corvus and its two-mine projects with fast-tracked potential via the company's website, corvusgold.com

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

O3 Mining released their preliminary economic assessment for its Marban project at the Malartic property in Quebec. Highlights from the study include an after-tax net present value of $423  and a 25.2% internal rate of return million using a $1,450 gold price. Initial capex for the project sits at $256 million. With a life of mine estimated to be at just over 15 years, the strip ration sits close to 6 to 1, yielding just under 2 million ounces of gold with all-in sustaining costs of $822/oz. With the PEA now complete, O3 Mining will begin working on a pre-feasibility study to advance the Marban project towards production as part of a staged development strategy while continuing its drilling programs. O3 trades on the TSX Venture with OIII. News Release

Wallbridge Mining Says initial drilling on the new ground acquired through its recent acquisition of Balmoral Resources has greatly expanded the ultimate size potential of the Fenelon Gold System. Initial results from drilling west of Area 51 reported today included 106 g/t gold over .6 meters and 6.76 g/t gold over 5.65 meters. South of Area 51, on the newly acquired ground, the company says they intersected gold mineralization in four of the six holes drilled to date, however, assays are pending. Currently, five of six drill rigs are focusing on expanding the Tabasco-Cayenne-Area 51 mineralization on the original Fenelon Gold Property, carrying out a combination of 50-100-metre step-outs and tighter-spaced in-fill drilling. Wallbridge Mining trades on the TSX with the symbol WM. News Release

Talisker Resources announced results today from their 17,000 meter drill program at the Bralorne Gold Project in British Columbia. Those results included 102 g/t gold over a half meter, 12.7 g/t gold over 1.3 meters and 8.64 g/t gold over 1.8 meters, all coming from hole 15. Other results included 6.83 g/t gold over 1.5 meters and 4.52 g/t gold over 6.15 meters. The company says with the installation of an automated core saw at site the company will have increased their sample production rate and will be releasing the remaining results of these holes and the newly completed holes shortly. Talisker trades on the CSE with TSK and on the OTCQB with TSKFF. News Release

Roxgold says it has mad a third new discovery at the Séguéla Gold Project located in Côte d’Ivoire. This new discovery is called Koula and was discovered with assay returns of 26.1 g/t gold over 19 meters. Located approximately 1km to the east of Antenna, Koula was discovered through field reconnaissance and mapping in an area previously considered to be a lower exploration priority. Roxgold trades on the TSX with ROXG and on the OTCQX with ROGFF. News Release

Wolfden Resources reported drill results from the 5,000 meter drill program on their Pickett Mountain Project in the state of Maine. Seven holes have been drilled to date (see Figure 1), to test for potential extensions of the two main lenses of massive sulphide mineralization that host the mineral resource. Three of the seven holes have intersected massive sulphide mineralization, including a record high-grade intercept of 44.05% zinc equivalent over 3.1 meters. Two holes still have assays pending. Later this month, the company will move to test further step-out targets. Wolfden Resources trades on the TSX Venture with WLF. News Release

EMX Royalty has options off its Queensland Gold project in northeastern Australia to Many Peaks Gold, a private Australian company. The Agreement provides EMX with $65,000 cash upon signing. , work commitments, annual advance royalty payments, and a 2.5% Net Smelter Returns ("NSR") royalty interest in the Project, as well as other considerations. The Queensland Gold Project is host to multiple styles of gold and copper mineralization, including key intrusion related gold targets that were only partly explored in the mid-1990’s. EMX trades on the TSX Venture and the NYSE American with EMX. News Release

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I’m Trevor Hall. Have a wonderful day. Be well. 

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