Precious Metals Continue to Rise Brining Explorers with Them

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

Today is Wednesday July 22nd

Gold and silver soared on Tuesday as the U.S. dollar expressed its view on the Fed's money printing and currency devaluation policy by plunging 3/4's of a percent, a big one day drop for any currency, according to the Mining Stock Journal. Gold jumped 1.46% while silver sprinted 6.8% higher, once again outperforming gold by a Nebraska farm country mile. The gold silver ratio cliff-dove nearly 5% to 85.5, its lowest close since early January. The mining stocks were up 1.3% using GDX as a proxy, though many individual stocks were up considerably more, especially silver mining stocks. India continues to have a strong appetite for gold imports despite the big move higher starting this past Friday. The Mining Stock Journal said that typically India will pause after $20-30 move higher but right now it seems to be playing catch-up from the strict lock-down imposed on the country from March to late June. On a another note, the Mining Stock Journal will be reviewing Silver Elephant Mining and Bayhorse Silver in addition to updating the stocks it currently recommends in the next issue released Thursday afternoon

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… Integra Resources.

Integra Resources trades on the TSX-V under ITR and the OTCQX under IRRZD. Integra Resource is advancing its past producing DeLamar  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.The maiden PEA for the project established a net present value of C$473-million and an IRR of 43%. 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.

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

Marathon Gold shared drill results this morning from recent exploration drilling at the Valentine Gold Project, central Newfoundland. These latest results represent fire assay data from the initial ten drill holes completed in the new Berry Zone following the restart of drilling operations on June 9, 2020. Included in this morning’s results were 3.33 g/t Au over 120.0 metres, including 11.83 g/t Au over 10.0 metres, 13.03 g/t Au over 2.0 metres and 4.97 g/t Au over 28.0 metres. The ten drill holes released today represent step out drilling to both the southwest and northeast of the new Berry Zone, located within the six-kilometre long Sprite Corridor between the Leprechaun and Marathon Deposits. Marathon Gold trades on the TSX with MOZ and on the OTC markets with MGDPF. News Release

Kootenay Silver announced assay results from 3 new drill holes at the Copalito silver-gold project in Sinaloa State, Mexico. These are the second, third and fourth core holes to be announced since the restart of the 3,000 meter, 2020 drill campaign designed to target high-grade silver and gold showings of the 6 principal veins exposed at surface on the Property. Results included 2,830 gpt silver with 0.145 gpt gold over 1 meter within 3.2 meters of 1,297 gpt silver and 0.285. gpt gold all within 13.1 meters of 347 gpt silver and 0.216. gpt gold. The company says the strategy is to put a few holes into each of the principle outcropping veins to establish which are most promising for hosting high grade deposits and then test those areas with a larger follow up program. Kootenay trades on the TSX Venture with KTN. News Release

Quebec Precious Metals reported additional drill results at the La Pointe Extension discovery following the 7,448 m winter diamond drilling program on the 100% owned Sakami Project in Quebec's Eeyou Istchee James Bay territory. Results recently received from winter drilling program continues to highlight gold mineralized system continuity and significant exploration potential to the SW of the La Pointe deposit. Results included 1.14 g/t Au over 70.30 m and 1.15 g/t Au over 80.10 m. A 7,000 m summer drilling campaign is scheduled to start in early August to better define the exploration potential of this discovery. Assaying is pending from 4 other holes. Quebec Precious Metals trades on the TSX Venture with CJC and on the OTCQB with CJCFF. News Release

Palladium One Mining the first drilling results from the Phase 1 winter 2020 drill program at the Läntinen Koillismaa PGE-Cu-Ni Project, located in north-central Finland. Those results showed 32.55m grading 2.86 g/t palladium equivalent from 33m down hole, in hole 1. Holes 1 through 5 targeted a previously untested up dip portion of the Kaukua deposit with the goal of upgrading current inferred resources to indicated and outlining near surface mineralization which could form part of a future bulk sample. The Kaukua deposit hosts 635,600 Pd_Eq ounces of Indicated Resources grading 1.80 g/t palladium equivalent, and 525,800 palladium equivalent ounces of Inferred Resources grading 1.50 g/t Pd_Eq. Palladium One trades on the TSX Venture with PDM and on the OTC markets with NKORF. News Release

Endeavour Mining says its Houndé mine in Burkina Faso have increased by 554,000 ounces following further resource delineation at the Kari Area. The Kari Area now accounts for 57% of the Houndé M&I resource, with 2.5Moz of Indicated resources discovered over the past three years and hosts high grade deposits with ~84% of Indicated resources grading more than 2.0 g/t Au, amounting to 2.1Moz. The total M&I resources at Houndé now sits at 4 and a half million ounces of gold. Endeavour trades on the TSX with EDV and on the OTCQX with EDVMF. News Release

Cornerstone Capital says they intend to formally requisition a general meeting of shareholders of SolGold to be held on or after October 27, 2020 to replace the entire SolGold board. At the requisitioned General Meeting, Cornerstone intends to propose that all members of the current SolGold board be replaced with five new nominees. 

Thats all from this morning’s news briefing. Its looking to be an exciting day for precious metals and precious metal miners and explorers once again. We’ll be back later with some more market commentary on these latest moves, so stay tuned. 

Mining Stock Daily is distributed over a dozen different networks throughout the world and in proud partnership with the Junior Mining Network. It is produced by Clear Creek Digital and Investment Research Dynamic's Mining Stock Journal. 

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

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