Ridgeline Make New Discovery; Integra Extends Mineralization

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

Today is Wednesday, December 9th. 

Consistent with the recent pattern of gold price management, the gold price was pushed down early Tuesday morning despite the fact that India's gold import machine was running full-steam. Then with no news or even triggers, gold shot up from $1864, December basis, to as high as $1880. Gold settled up about $9. Silveron the other hand was down slightly after spiking up over $25 and then cliff-diving back down to the $24.70 area. The mining stocks were down marginally, which was to be expected after the big move they made on Monday. The Mining Stock Journal insists that an enormous effort is being made to hold gold and silver in check in advance of the roll-out of a monumental money printing and fiscal helicopter money drop in January after the Presidential inauguration. The only alternative would be to let the Government go unfunded and let the economy collapse. As such, every sell-off in gold, silver and the mining stocks should be bought.

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.

Integra Resources is out with new drill results this morning from Florida Mountain at the DeLamar Project in Idaho. Results included 4.53 g/t gold and 262.67 g/t silver over 85.35 meters which was within and below the existing resource estimate, 13.36 g/t gold over 2.44 meters beneath the existing resource estimate and 8.61 g/t gold and 479 g/t silver over 1.61 meters, just south of the existing resource estimate. To date Integra has drilled 20 drill holes at Florida Mountain specifically targeting high-grade shoots. Of these 20 drill holes, 13 have intersected significant high-grade gold-silver mineralization. Three exploration drill rigs are currently in operation at DeLamar, with one rig at each of Florida Mountain, Milestone and Blacksheep/Georgianna. Integra trades on the TSX Venture with ITR and on the NYSE American with ITRG. News Release

Ridgeline Minerals announced they have discovered a shallow oxide silver-gold discovery at its Selena project in Nevada. Drilling returned 36.6 meters grading 67.08 g/t silver and .26 g/t gold. Drill assays received to-date, suggest the Selena project is host to a silver enriched, Carlin-Type gold system with silver to gold ratio's typically exceeding 100 to 1. As a result, future exploration and reporting at Selena will focus on both silver and gold with composites reported in silver equivalent. The Company has now completed twenty-two reverse circulation drill holes in 2020 totaling 3,223m with wide-spaced drilling defining an oxide, silver-gold footprint that outcrops at surface and extends for over 1 kilometer down-dip and along strike. Ridgeline trades on the TSX Venture with RGD. News Release

GoGold released additional assay results from the Company's La Trini deposit  on  the Los Ricos North property. Results included 3.4m of 2,765 g/t silver equivalent within a wider 61.4 meter interval of 204 g/t silver equivalent. Currently the Company has 6 drill rigs operating at Los Ricos North, with 2 operating at the La Trini deposit, 3 drilling at the El Favor zone, and 1 drilling at El Orito. GoGold trades on the TSX with GGD and on the OTCQX with GLGDF. News Release

Sun Metals shared additional drill results from the Stardust project that extend the known plunge length of the 421 zone to 425 metres. The 100% owned Stardust project is located in northcentral British Columbia, 250 kilometers northwest of the city of Prince George. The company highlighted a 4.45 meter drill intercept returning 12.14% copper equivalent. They company says the drill hole demonstrates that mineralization continues up plunge to the south from prior drilling, opening up room for ongoing resource growth.  This intersection now extends the plunge length of the 421 zone and indicates that the system is open for further expansion. Sun Metals trades on the TSX Venture with SUNM. News Release

O3 Mining provided initial drilling results from the Simkar zone, located 400 metres west of the historic deposit, within the Sector 3 of its Alpha property in Val-d'Or, Québec, as part of a fully-funded 150,000 metre drilling program. Highlights include 10.4 g/t gold over 3 meters, 14 g/t gold over .8 meters and 32.4 g/t gold over .5 meters. The Simkar deposit hosts 43,000 oz Au at 5.52 g/t in Measured and Indicated resources and 20,000 oz Au at 6.36 g/t in Inferred category. O3 trades on the TSX Venture with OIII. News Release

And in some quick bulletins this mornings: Banyan Gold has completed it initial 51% earn-in commitments on the AurMac Property in the Yukon. Skyharbour Resources has signed a definitive Agreement with Pitchblende Energy and Valor Resources to Option 80% of the North Falcon Point Uranium Property. Marathon Gold has signed a cooperation agreement with 6 communities for the Valentine Gold Project. And both Rena Silver and Defiance Silver announced they have begun drilling at their properties in Mexico. 

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

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