Orezone Pours First Gold; Integra Commences New Drill Program
Welcome to Mining Stock Daily. I’m Trevor Hall.
Today is Thursday, September 12th
Last week gold rose $7 from the prior Friday's close while silver jumped nearly $1. The Mining Stock Journal said that the markets generally reverted back to hope that the Fed would soon loosen its monetary policy to prevent a nasty economic recession and this fueled a rally across all risk-related assets on Thursday and Friday. The newsletter added that it disputes the idea that physical gold and silver are risk assets, though the paper derivatives version of the monetary metals are certainly beset with risks. Demand for physical gold and silver in India and China has started to pick up considerably. As well, gold imports into Turkey jumped in August to the highest level since September 2020. The Mining Stock Journal said that the marked increase in physical metals from the east will make it difficult for the western price management team to keep a lid on gold and silver prices. Also, the cost to borrow SLV shares has soared in the last two weeks, while the lease rate for silver in London has jumped. The Mining Stock Journal believes that a possible short squeeze in silver is percolating. Stay tuned. The mining stocks, though sentiment stinks and the shares generally are in the gutter, are starting to show signs of bottoming. The Mining Stock Journal in the latest issue presented several stocks that it believes should be accumulated based on their valuations relative to their respective fundamentals.
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…Western Copper and Gold.
Western Copper and Gold is focused on developing the world-class Casino project in Canada's Yukon Territory. The Casino project consists of an impressive 11 billion pounds of copper and 21 million ounces of gold in an overall resource. Western Copper and Gold trades on the TSX and the NYSE American with WRN. Be sure to follow the company via their website, www.westerncopperandgold.com.
And here’s what you need to know this morning….
Integra Resources announced they have commenced drilling on an estimated 60 Mt of low-grade, stockpiled gold-silver mineralized material at the DeLamar and Florida Mountain deposits. This material was stockpiled at surface by previous operators and has the potential, pending further drilling, to significantly increase the heap leach mine life and production rates at the Project. This drill program is designed to estimate grade and grade variability within the stockpiles as well as to obtain material for metallurgical testwork to further understand the potential inclusion of this material in future mine plans and heap leach processing. The total drill program will include 11,000 m of shallow, dual rotary reverse circulation drilling and sonic drilling. Based on historic mining, milling and drill data, Integra is confident that the bulk of this material is oxidized or partially oxidized and that the grade of most of this material should be sufficient to warrant processing as part of the heap leach operation. Integra trades on the TSXV with ITR and on the NYSE American with ITRG. News Release
Revival Gold announced initial results from the Company’s 2022 drilling program at the Beartrack-Arnett Gold Project. Three core holes targeting the depth extension of mineralization at Beartrack-Arnett have been completed in the 2022 program; two in the Joss area and one in the South Pit area. At Joss, drilling returned 6.2 g/t gold over 14.2 meters within 3.6 g/t gold over 51.5 meters. Approximately 2,300 meters of this year’s planned 5,000-meter core drilling program have been completed at Beartrack-Arnett since the start of drilling in June. Revival Gold trades on the TSXV with RVG and on the OTCQX with RVLGF. News Release
HighGold shared the first drill results of the 2022 field season from the Difficult Creek Prospect at the Johnson Tract project in Southcentral Alaska. The 2022 drilling here is a follow-up to the exceptionally high grade hit last year which returned 577 g/t gold and over 2000 g/t silver over 6.4m. Results out today included 11.9m @ 21.68 g/t Au and 30 g/t Ag, and 42.8m @ 3.4 g/t Au, 23 g/t Ag. Two (2) drill rigs have been targeting the Ellis Zone at the Difficult Creek prospect since the beginning of July with 3,017 meters completed in 25 drill holes to date. Drill hole lengths typically range from 75 to 150 meters and have been completed as fans of holes in a close-spaced 12.5 to 25-meter grid pattern with the objective of further refining the geometry, geological controls, and grade distribution. HighGold trades on the TSXV with HIGH and on the OTCQX with HGGOF. News Release
New Pacific Metals and its loca Bolivin partner announced assay results thor morning for the first drill hole from the Silverstrike Project, which is located in the Department of La Paz in Bolivia. The drill hole intersected broad gold mineralization starting near-surface with 195m of .96g/t gold and 6 g/t silver with a near-surface sub interval of 36m of 3.97 g/t gold and 20 g/t Ag. Seven holes have been drilled to date since the start of the program in June 2022. Assay results of the remaining six holes are pending. New Pacific Metals trade on the TSX with NUAG and on the NYSE American with NEWP. News Release
C3 Metals also had new assay results out today. The company intersected 309m of .44% copper and .33 g/t gold at the Bellas Gate Project in Jamaica. This assay represent less than half of the first drill hole of a five-hole program actually. There are two additional holes at the Epidote Ridge target which are complete and assays are pending. Bellas Gate, as well as C3 Metals' other projects in Jamaica, sit within the highly prospective Crawle River-Rio Minho Fault Porphyry and Epithermal District. C3 trades on the TSXV with CCCM and on the OTCQB with CUAUF. News Release
Orezone Gold has poured its first gold at the Bomboré Mine in Burkina Faso. The construction of the Bomboré Mine was completed under budget, on time, and with no lost time injuries. Commissioning of the process plant commenced in late July with ore introduced into the circuit near the end of August. The plant continues to operate well with all systems functioning as designed resulting in gold recoveries slightly above expectations. Orezone trades on the TSX with ORE and on the OTCQX with ORZCF. News Release
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