Regulus Resources and Liberty Gold Drill Results, New Exploration News from Vizsla, and Production Updates from the Sector
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Thursday, January 16th.
Gold rallied sharply Tuesday evening from $1547 to to $1555, February futures basis, as India continued with its voracious appetite. Right after Wednesday's LBMA a.m. price fix, not unpredictably, gold was pounded down $8. Starting early Wednesday afternoon gold soared as much as $9 after the farcical Phase 1 trade deal signing and moved up toward $1560 on Wednesday night. Silver is coiling around the $18 level after trading as low as $17.76 during Wednesday's day session. The mining stocks per the HUI index finished up about 2% on the day. The Mininng Stock Journal commented that the action in the mining stocks along with with the intra-day volality which culminated in higher prices for gold and silver foreshadows the possibility of a big move coming in the sector.
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... Pacific Empire Minerals.
Pacific Empire Minerals Corp. is a junior exploration company focused on the discovery of gold-rich copper deposits in British Columbia, Canada. Pacific Empire trades on the TSX Venture Exchange under the symbol PEMC and on the OTCQB markets under the symbol PEMSF. The Company currently has a very tight share structure. Pacific Empires’ unique approach to the prospect generator business model incorporates the Company’s own reverse circulation drill to advance projects beyond that of typical prospect generators. More information on Pacific Empire can be found at pemcorp.ca.
And here’s what you need to know today from the junior mining sector:
Regulus Resources shares assay results form six drill holes from the Phase II drill program at the AntaKori copper-gold project in northern Peru. The program was designed to expand and infill resources at the project. Highlights included .38% copper, .64 g/t gold and 32.69 g/t silver over 168.75 meters from hole 39. The company said this hole represents discovery of multiple wide zones of base metal carbonate style epithermal mineralization with significant precious metal content and provides new targets to follow up with future drilling. Other results from the drilling included .57% copper over 341 meters. CEO John Black is quoted saying “We have yet to properly test the Anta Norte geophysical targets to the north of the property, however continued success along the margins of those targets encourages us that we’re on the cusp of a large system of mineralization that could add to the already sizable resource on the AntaKori property.” Regulus trades on the TSX Venture with REG and on the OTC markets with RGLSF. News Release
Liberty Gold also shared drilling results this morning. Core drilling from its Carlin-syle Black Pine Property in southern Idaho. Results included 2.92 g/t oxide gold over 55.9 meters and 8.1 g/t gold over 3 meters. Liberty says The core holes encountered thick oxide gold intercepts in all drill holes. The core holes were designed to sample a wide range of grades and rock types, primarily within the Discovery 1 Zone, with one hole in the Discovery 2 Zone and one testing historical drilling in the Rangefront Target, located 3.1 km southeast of the Discovery 1 and 2 zones. You can read the full list of results on this morning’s news release at the Junior Mining Network newsroom. Liberty Gold trades on the TSX with LGD and on the OTC markets with LGDTF. News Release
Vizsla Resources the company’s exploration program has defined a new discovery, the Paloma Vein, at the Panuco precious metals district in Sinaloa, Mexico. Mapping and sampling have revealed outcropping mineralization over the 500 metre long vein. The sample returned 557 g/t silver equivalent over 3.4 metres. The Company is planning to drill the newly found Paloma vein in late January/early February as one of the twenty targets that will be drilled during an exploration program throughout 2020. Vizsla trades on the TSX Venture with VZLA and on the OTC markets with VIZSF. Shares of Viszla has nearly doubled since this past fall. News Room
Gatling Exploration says drilling has extended the Bear deposit by 500 meters up plunge from its main body of mineralization and by nearly one kilometer to the west near surface with its latest drill results which included 11.2 g/t gold over 5 meters. Further assay results are anticipated for drilling completed at near surface targets at Cheminis and Fernland zone extensions. Drilling continues to focus on proving that mineralization between the Fernland, Cheminis and Bear deposits are part of a continuous, multi-lens system with a strike length greater than four kilometers. The Larder Gold Project is located in Northern Ontario’s Abitibi. Gatling trades on with the symbol GTR in Canada and with GATGF on the US OTC market. News Release
In production news, Barrick Gold says it met its full-year guidance targets with preliminary gold production of 5.5 million ounces and 432 million pounds of copper.
IAMGOLD missed its guidance for 2019 by 3,000 ounces while the company expects its all-in sustaining costs to be at the top end of its guidance, approximately $1,100 per ounce. Incoming CEO and current COO Gordon Stothart says the company’s 2020 guidance reflects a year of transition with upper guidance for this year set lower than actual production of 2019.
And Fortuna Silver says their 8.8 million ounces of silver and 50 and a half thousand ounces of gold produced last year was in line with the company’s guidance, whoever both reflected a slight decrease year over year.
That is a wrap from us today here at Mining Stock Daily. Thanks again for tuning in. We will be back tomorrow with an interview with our co-producer Dave Kranzler. Then I’ll be heading up to Vancouver next week and I have a number of great interviews lined up I look forward to sharing with you.
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