Regulus Resources Hits Best Intercept to Date at AntaKori
Regulus Resources hits the best intercept to date at its AntaKori Project in northern Peru. This and more today right here on Mining Stock Daily.
Good day everybody. Welcome to Mining Stock Daily. Today is Thursday July 25th and I'm your host Trevor Hall. Thank you for tuning in today. The price of gold and silver continued to remain resilient to any and all attempts to push the price lower on the paper gold markets of London and New York. Similarly, the mining shares were down early in NYSE trading only to stage a solid rally into the closing of trading. The Mining Stock Journal noted that the investor sentiment measures towards silver and mining stocks continue to remain at low levels. The market vein silver Sentiment Index is at historically low levels. Similarly, the Hulbert Gold Newsletter Sentiment Index continues to drift at a low level of enthusiasm toward the mining shares, even given that the GDX gold stock ETF is up 33% year to date.
Today's briefing is brought to you by Pacific Empire Minerals. Pacific Empire is a junior exploration company focused on the discovery of gold rich copper deposits in British Columbia. Pacific Empire trades on the TSX Venture Exchange under the symbol PEMC and on the OTC markets under the symbol PEMSF. The company currently has a very tight share structure and its 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. The focus for Pacific Empire this year is its Porphyry bell project in central B.C., where it has assembled a 17,000-hectare land position over the past year. During 2019 Pacific Empire is also planning aggressive reverse circulation drill programs at its Sat, Bulkley and Paragon properties. More information on Pacific Empire Minerals can be found at pemcorp.ca.
Here's what you need to know out of this morning's mining sector. Regulus Resources announced results from two additional drill holes from its Phase 2 drill program, the aim of which is to expand infill resources at the company's AntaKori copper-gold-silver project in northern Peru. Highlights included the company's best intercept on the project to date which returned assays showing 610.2m with 0.84% copper, 1.02 g/t gold and 10.28 g/t silver for 1.66% copper equivalent. That's all from a 3.7m depth. This hole intersected both high-sulfidation epithermal and skarn, as well as breccia of mineralization. CEO John Black said while this hole was an infill hole, the high-grade material intersected should upgrade the resource estimate at the end of their Phase 2 program. The Phase 2 program is well underway and Regulus anticipates increasing the number of drill rigs from two to four in the coming weeks. Regulus Resources trades on the TSX Venture with the symbol REG and on the OTC markets with RGLSF.
Marathon Gold says infill drilling at the Leprechaun Deposit along the Main Zone continues to intersect high-grade gold intervals with abundant visible gold and now delineates a high-grade core area of the Main Zone that extends for more than 600m along strike. New drill reports included 4.49 g/t gold over 41m and 6.61 g/t gold over 8m. The high-grade gold core of the Main Zone quarter of the Leprechaun Deposit now extends continuously for more than 600m along strike, extends from surface to a depth of more than 300m and has a true width that ranges from 30m to more than 100m. Additional planned drilling is expected to increase the strike length of the high-grade core of the Main Zone corridor towards both the northeast and southwest. Drilling at Leprechaun is now complete and the three drill rigs have now moved on to the Marathon Deposit. Marathon Gold trades on the TSX with the symbol MOZ and on the US OTC markets with MGDPF.
Continental Gold says 10 diamond drill-holes targeting BMZ4 at the company's Buriticá gold project in Colombia intercepted high-grade gold over a thick continuous intervals. The majority of the holes encountered narrow bands of visible gold and were drilled at or near perpendicular angles to the zone. Highlights from the results included 40.2m of 6.43 g/t gold and 19.3 g/t silver and 23m at 7.27 g/t gold and 53 g/t silver. Ari Sussman, CEO of the company said they anticipate incorporating BMZ4 into the future mine plans. They will be looking to design wider stopes with potential to use bulk-style mining, including transverse extraction using primary and secondary stopes. The BMZ4 mineralization lies either outside the boundary of the current mineral resource estimate block model or is located in areas that were estimated to be below the cutoff grade due to lack of previous information. Continental Gold trades on the TSX with the symbol CNL and on the OTC markets with CGOOF.
One quick note on Mining Stock Daily shows both for tomorrow and Monday. I'll be airing some interviews from my recent trip up to the Yukon, so be sure to look forward to that. It's good timing as I will be out of town away from the desk for a long weekend with the family. Hope you have yourself a great day. Mining Stock Daily is produced by Clear Creek Digital and Investment Research Dynamics' Mining Stock Journal. We'll talk to you again soon. Be well.
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