Post Holiday Exploration Results Hit the Wire: News from Newfoundland to Namibia
Exploration and In-fill drilling results have hit the wire this morning from a handful of junior precious metal companies. We’ll share share with you some of those results this morning, here on Mining Stock Daily.
Welcome to Mining Stock Daily.
Today is Tuesday, September 3rd.
With markets closed in the U.S. for the Labor Day holiday on Monday, the price of gold jumped $9 from Friday's close while the price of silver jumped 20 cents from Friday's close. The Mining Stock Journal noted that the gold silver ratio crashed below its 200 day moving average last week and continued to move lower on Monday with the U.S. closed. The newsletter also commented that there should be an interesting tug-of-war on gold and silver that develops between the western bullion bank price management efforts using derivatives and the onset of India's biggest seasonal period of the year for gold and silver buying.
Today’s briefing is brought to you by Integra Resources.
Integra Resources trades on the TSX-V under ITR and the OTCQX under IRRZF. Integra Resource is advancing its past producing DeLamar (DeL - a - Marr ) Gold-Silver project in SW Idaho through aggressive drilling and exploration. The latest Resources Estimate released earlier this summer showed approximately 4 million Gold equivalent ounces in the measured and indicated category. A maiden PEA is expected this quarter. The management of Integra successfully sold its previous brownfields project for C$590 million in summer 2017. Read more about the company and its successful management team at integraresources.com.
Here’s what you need to know today out of the junior resource sector.
Osisko Mining provided new results from infill drilling at the Osborne-Bell gold deposits in Quebec. The 50,000-metre program focused on infill drilling at the Osborne-Bell deposit as part of the overall Windfall definition drilling program. Today’s results included 114 g/t gold over 2.8 meters and 51.5 grams per ton gold over 2.8 meters. Osborne-Bell remains open at depth with good potential for further expansion, and additional exploration drilling is being planned for 2020. You can read the full list of results from the 47 infill drill holes in today’s press release. Osisko Mining trades on the TSX with OSK and on the OTC markets with OBNNF. NEWS RELEASE
Marathon Gold announced results from the start of the infill drilling campaign at the Marathon Deposit, which is part of the overall Valentine Gold Project there in Newfoundland. The latest drilling is part of a series of planned infill and exploration drill holes designed to expand the estimate of Mineral Resources at the Marathon Deposit over the more than 1,500-meter strike length of the deposit’s “Main Zone” corridor. A few highlights released this morning included results of 3.87 g/t Au over 11.0 meters and 1.44 g/t Au over 62.0 meters. Marathon Gold says these drill results continue to successfully demonstrate the continuity of gold mineralization both along and across strike of the Main Zone as well as from surface to the base of the currently planned open pit, where mineralization remains open to depth. Three drill rigs are currently operating at the Marathon Deposit, where a more than 20,000-meter infill and step out drilling program will be completed in this month. Thereafter, two drill rigs will move on to complete a planned 7,000-meter exploration drilling campaign at the Sprite Zone. Marathon Gold trades on the TSX with the symbol MOZ and on the OTC markets with MGDPF. NEWS RELEASE
Victoria Gold shared exploration drill results this morning from its Raven Target within the Nugget Zone within their Eagle Gold Mine project in the Yukon. Gold intersections included 2.05 grams per ton gold over 14.8 meters and 4.48 grams per ton gold over 5.9 meters. The goal of the 2019 Raven drill program was to follow up on the high-grade, on surface, gold mineralization discovered in late 2018 by surface trenches and limited diamond drilling. Victoria Gold trades on the Toronto Venture exchange with VIT and on the otc markets with VITFF. NEWS RELEASE
Osino Resources says it has intersected a high grade gold zone in the 4 th hole of the 7 hole diamond drill program at its Twin Hills Gold Project, located in the Karibib Gold District in Namibia. This news follows the announcement of the Twin Hills Central discovery last week. The 4th diamond drill hole included 1.37 grams per ton gold over 65 meters. The company is still awaiting assays from a 3 diamond holes at Twin Hills Central, as well as the assays results from the deepening of holes OKD001 and OKD002 which ended in mineralisation. Osino is currently planning the next phase of drilling to start as soon possible, focusing on in-fill and step out drilling at Twin Hills Central, as well as fence lines over other identified prospects within the 11km Twin Hills gold system. News Release
Revival Gold shared a second batch of drill results from its summer 2019 core drilling program at the former producing Beartrack Gold Project and the adjacent Arnett Gold Project located in Lemhi County, Idaho. The company says all seven holes intersected near-surface oxide mineralization along the southern flank of the gold system, first drilled by Revival Gold in late 2018. Highlights from the results included .99 g/t gold over 60.5 meters and .88 g/t gold over 66.3 meters. All planned drill holes in the current program at both Beartrack and Arnett are now complete. A total of approximately 5,100 meters were drilled in 25 holes on budget and ahead of schedule. Revival Gold trades on the TSX Venture with RVG and on the OTCQB market with RVLGF. News Release
Banyan Gold says it has made a new discovery on the Aurex-McQuesten gold property in Yukon. The first four holes of the eight-hole, two trench program across the Aurex-McQuesten property targeted the Powerline Zone, an undrilled area one kilometer south of the main McQuesten Gold Zone. Highlights from the Powerline discovery included 2.89 g/t gold over 4.6 meters and 1.42 grams per ton gold over 4.6 meters. Banyan says the results from the four Powerline drill holes demonstrate the geological model developed by Banyan can be used to identify new targets that have the potential to host near-surface gold mineralization with economic potential. Banyan trades on the TSX Venture with the symbol BYN. News Release
Mineral Mountain Resources Mineral Mountain raised US$2.25 million (C$3 million) via a non-brokered private placement of 20 million units at US$0.113 cents (C$0.15) per unit. The warrant can be exercised at approximately US$0.18 or C$0.25. The proceeds will be used to fund a 4,000 meter Phase 2 drill program. The Company's shares trade under MNRLF in the U.S. and MMV on the TSX Venture exchange. The Mining Stock Journal said that if the Company can make a significant discovery with this drill program, the stock should double very quickly. If not, the stock will likely trade below 5 cents immediately. It's a high risk, high return proposition.
Probe Metals released an updated resource estimate for its Val-d’Or East Project. The estimate includes resources from the Company’s 100%-owned Pascalis, Courvan and Lapaska properties as well as its two option properties, Monique and Cadillac Break East. Today’s resource estimate puts the total resource numbers at just over 866,000 Measured & Indicated Ounces and shy of 2.3 million Inferred Ounces at the Val-d’Or East Project With the discovery of a new parallel gold trend, the Courvan Trend, the mineral resources have shown improvement over the previous resource estimate from last year and remain open in all directions for future expansion. Probe Metals trades on the Toronto Venture exchange with PRB and on the OTC markets with PROBF. News Release
That concludes today’s briefing.
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