Pacific Empire Samples 8.79 g/t Au & 1.75% Cu at Jean Marie
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Tuesday, September 29th.
Gold was pushed lower overnight, with December gold trading as low as $1852 before taking off like a rocket ship in a $31 move to settle at $1882. It's trading up another $7 as this is being written Monday night. Not to be outdone by gold, silver, which was pushed down to $22.60 December basis, settled at $23.81, or $1.21 off the early morning low. The gold/silver ratio dropped over a point to close below 80 at 79.7. The mining stocks generically per GDX closed up a little over 1%, but some of the micro-cap junior explorers posted considerably higher gains. The Mining Stock Journal commented that last week's sell-off in the precious metals sector was nothing more than a healthy pullback with some interventionary assistance from the bullion banks ahead of the next move higher in the sector. Speaking of micro-cap junior exploration companies, the Mining Stock Journal will be taking a look at Silver Viper and its gold-silver project in Sonora, Mexico - as well as offering an investment opinion - in Thursday's issue.
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… 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.
Rio2 says it has taken another key step towards the development of its Fenix Gold Project located in Chile by selecting contractors for the processing plant construction, leach pad and civil earth moving and construction. The Fenix Gold Project continues to advance as scheduled and first gold production is estimated for late H2, 2022. Rio2 trades on the TSX Venture with RIO and on the OTCQX with RIOFF. News Release
Pacific Empire Minerals reported rock sample assays received from its Jean Marie Copper-Gold-Silver-Molybdenum porphyry project in north-central British Columbia, located 50 kilometres west of Centerra Gold's Mt. Milligan copper-gold mine. Returns included 8.79 g/t gold, 86.6 g/t silver and 1.75% copper in rock sample at newly identified Leap Target Area. The company says Bismuth-tellerium association with base metal and precious metal rich veins suggests high-level porphyry type mineralization. Additional rock sampling at the Jean Marie project continues to highlight the potential for a precious-metal-enriched, copper porphyry deposit. Pacific Empire trades on the TSX Venture with PEMC. News Release
Nighthawk Gold reported assay results from 4 drill holes compled on the Zone 3.5 of the Colomac Main Sill, which is part of the Colomac Gold Project in the Northwest Territories of Canada. Results included 2.82 g/t gold over 21 meters, 9 g/t gold over 7.25 meters and 3.88 g/t gold over 4.5 meters. These are the first holes to be reported since the Company resumed drilling in mid-July after a 3-month suspension of activities due to Coronavirus precautions. Nighthawk trades on the TSX with NHK and on the OTCQX with MIMZF. News Release
Sun Metals says it has expanded its copper gold discovery footprint at the Stardust Project in British Columbia with drill results reported upon this morning. Results included 1.57% copper, 1.08 g/t gold and 28.2 g/t silver over 44 meters. The company says this hole established continuity from the 421 zoe to a lens of the overlying Canyon Creek Zone. The 421 zone is now revealed to be a feeder to the overlying Canyon Creek zone mineralization. Sun Metals trades on the TSX Venture with SUNM. News Release
Liberty Gold shared new drill results from its Black Pine oxide gold property in Idaho. Results from the D-1 Zone today included 1.02 g/t gold over 24.4 meters and 1.18 g/t gold over 16.8 meters. The company says they continue to identify additional areas of oxide gold in their regional drilling program with every target. To date in 2020 Liberty Gold has reported 15 RC and one diamond core hole from the D-1 Southeast Extension, a 400-m-long gap in the D-1 zone between the main portion of the zone and the historic Tallman Pit. Liberty Gold trades on the TSX with LGD. News Release
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I’m Trevor Hall. Have a wonderful day. Be well.
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