Ridgeline Expands Mineralization at Selena

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

Today is Wednesday, January 20th

Gold and silver encountered another day of high volatility on Tuesday, as an early morning cliff-dive sell-off that dropped February gold $13 was followed by two more $10 intrad-day yo-yo cycles. Both metals settled up marginally from Monday's non-U.S. trading session. The gold/silver ratio dropped back down to 72.6 after snapping higher to 78 in the sharp sector sell-off earlier this month. The Mining Stock Journal pointed out that once again the charts for both metals look quite bullish. This technical backdrop is supported by the professed willingness of the incoming Presidential administration to accelerate the Government's fiscal deficit spending - something which can only be facilitated by a much larger Fed money printing program than the current $120 billion per month. The mining stock charts also look quite bullish after the sharp decline that began on January 5th. The Mining Stock Journal is particularly bullish on silver stocks and will be including updates on and trading recommendations on a number of primary silver exploration and mining stocks in this Thursday's new 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… Corvus Gold. 

Corvus Gold Inc. is a North American gold exploration and development company, focused on its near-term gold-silver mining projects in southwestern Nevada.  The Company holds a commanding land position within the Bullfrog Mining District.  Neighbouring, adjacent projects controlled by AngloGold Ashanti, Kinross Gold and Coeur Mining highlight this active District.  The two 100% owned North Bullfrog & Mother Lode projects have a combined nearly 4M oz gold of in-pit resource and continues to grow with an on-going, successful, resource expansion drill program. 

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

Ridgeline Minerals says recent drilling at the Selena shallow-oxide silver and gold discovery has expanded mineralization 300 meters to the west and 600 meters to the north. Wide-spaced drilling has now defined an oxide silver-gold footprint that outcrops at surface and exhibits exceptional continuity down-dip and along strike for over one kilometer. Highlights from the Phase III drilling program included 42.6 meters grading 16.78 g/t silver, .04 g/t gold for a 20.3 g/t silver equivalent. Selena is located in White Pine County, Nevada, approximately 64 km north of the town of Ely, NV, and 12 km southeast of the Kinross owned and operated Bald Mountain Gold Mine. Ridgeline trades on the TSX Venture with RDG and on the OTCQB with RDGMF. News Release

Great Bear Resources provided results from 7 additional LP Fault drill holes over 200 meters of strike length from the Diie Project. New shallow high-grade drill results between bedrock surface and approximately 70 vertical metres depth include 10.01 g/t gold over 34.85 metres starting at 50 meter depth and 15.25 g/t gold over 10.40 metres starting at 63 meter depth. Results from over 50 drill holes are expected to be received between now and the end of February 2021, marking this the company’s most active period of incoming results in the Dixie Project's history.  Great Bear trades on the TSX Venture with GBR and on the OTCQX with GTBAF. News Release

Wallbridge Mining announced new assay results from the definition drilling program on the Fenelon Gold Property which continue to confirm the high metal factor continuity of the Tabasco-Cayenne shear system. The results reported today include a wide intersection of 3.48 g/t Au over 54.00 metres. Other results include 3.07 g/t gold over 7 meters and 11.15 g/t gold over 3.6 meters. In 2021, the Company is planning to complete approximately 170,000 metres of drilling with a maiden resource estimate at Fenelon anticipated in the third quarter. Wallbridge trades on the TSX with WM. News Release

Radisson Mining shared significant gold intercepts from the ongoing exploration drill program at its 100% owned O’Brien gold project located along the Larder-Lake-Cadillac Break , halfway between Rouyn-Noranda and Val-d’Or in Quebec, Canada. Drilling has continued to validate the 2019 litho-structural model while demonstrating the potential for resource growth at depth and along strike. Drilling so far has been focused on an approximately 1 km strike length to the east of the old O’Brien Mine, historically considered the highest-grade gold mine in Quebec Results reported today included 14.9 g/t gold over 8 meters and 41.04 g/t gold over 2.3 meters. Radisson trades on the TSX Venture with RDS and on the OTC with RMRDF. News Release

Argonaut Gold also released new drill results out his morning, these coming from the Magino property in Ontario. Results were 19 g/t gold over 10 meters, and included a 6.3 meter interval of 30.2 g/t gold. The South Zone has now been intersected in numerous drill holes extending from the border between the Island Gold mine and the Magino project westward over a strike length of 1.5 kilometres and remains open at depth and to the west. Argonaut trades on the TSX with AR. News Release

Clean Air Meal released an updated Indicated and Inferred mineral resource estimate prepared in accordance with National Instrument 43-101 for the Company's 100%-owned Thunder Bay North Project which includes both the Current Lake and Escape Lake deposits. Indicated mineral resources at Thunder Bay North Project are approximately 1.33 million oz PdEq in the Current Lake Deposit and 0.50 million oz PdEq in the Escape Lake Deposit. Inferred mineral resources at Thunder Bay North Project are approximately 0.41 million oz PdEq in the Current Lake Deposit and 0.25 million oz PdEq in the Escape Lake Deposit. Nickel and Copper contribute significant metal values and will be tested for metallurgical flotation and recovery potential. Gold, Silver, Cobalt and Rhodium are potentially valuable byproducts in the metal mix at Thunder Bay North Project. Clean Air Metals trades on the TSX Venture with AIR and n the OTCQB with CLRMF. News Release

Kincora Copper also shared new drill results, these coming from the Trundle Project located in the Macquarie Arc of the Lachlan Fold Belt in Australia. Results included 42 meters of .64% copper and .58 g/t gold and 2 meters of .87% copper. Two rigs are currently operating at the Trundle Park prospect. Kincora Copper trades on the TSX Venture with KCC. News Release

GoGold Resources shares results of its  initial Preliminary Economic Assessment ("PEA") at its Los Ricos South Project located in Jalisco State, Mexico. The report highlights a base case after-tax NPV of $295 Million with an After-Tax IRR of 46%. The project currently holds an 11-year mine life producing a total of 69.6 million payable silver equivalent ounces ("AgEq"), consisting of 42.9 million silver ounces, 352,000 gold ounces and 4.5 million copper pounds. Initial capital costs sit at $125 million, including $16 million in contingency costs, over an expected 18 month build, and additional sustaining capital costs of $62 million over the life of mine. GoGold trades on the TSX with GGD. News Release

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

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