Roscan Drills New Discovery at Mankouke
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Monday, March 8th, the official kick off of PDAC 2021.
The sell-off in gold and silver subsided somewhat on Friday, with gold down a little over $2 and silver down 17 cents. Over the course of the beating in the metals last week, the gold/silver ratio bounced up to 67 from 64. The Mining Stock Journal said the sell-off in the metals occurred primarily during the hours when only the paper gold and silver markets in London and NYC are most active. India and China continued gobbling up physical gold last week and the big retail coin dealers are still beset with a shortage of gold and silver bullion products. As is customary when the they manipulate the gold and silver prices lower using paper, the Comex banks took down their short position in paper gold by a considerable amount, covering over 24,000 contracts representing 2.4 million ozs of imaginary gold. In another positive sign for the sector, the mining stocks per GDX recovered from a sell-off in early trading and closed green on the day, with GDX rising 1.3%. The Mining Stock Journal is confident that, at the very least, a short term bounce is underway that could morph into another bull market run.
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 is advancing the past-producing DeLamar Project in southwestern Idaho. The Company has continued to demonstrate resource growth and conversion through greenfield and brownfield exploration and plans on delivering a pre-feasibility study in Q4 2021 to further de-risk and advance the project towards permitting. Integra Resources trades on the TSX-V under ITR and the NYSE American under ITRG.
And here’s what you need to know this morning.
Roscan Gold reported new drill results from the Mankouke Discovery on the company’s Kandiole project in mali this morning. Hole 89 intersected 4.78gpt over 24m from 7.5m including 32.9gpt over 2m which is a New Discovery Zone 150M West of the Main Mankouke South Discovery Area. This hole appears to outline another parallel system to Mankouke South and highlights the potential to expand the resource footprint to the west. The new discovery area lies directly on trend to the strong geomagnetic signature of Mankouke West further to the NE. Other results front he Southern Mankouke Zone included 2.36 g/t gold over 30 meters and 6.01 g/t gold over 7 meters. Roscan plans to move a second diamond drilling rig into this area to further expand upon the new discovery. Roscan trades on the TSX Venture with ROS and on the OTC with RCGCF. News Release
AbraSilver Resources, formally known as AbraPlata, announced results from complete assays received for three drill holes and partial assay results for one hole, on its wholly owned Diablillos property in Salta Province, Argentina. Highlights included 1,508 g/t silver equivalent over 17 meters and another 7 meters of 7.11 g/t gold equivalent. Thus far, the silver mineralization intersected in this hole represents one of the highest-grade silver intercepts encountered at the Diablillos project to date. These results are expected to contribute significantly to the expansion of the existing silver enriched zone, and continue to demonstrate the potential for additional high-grade gold mineralisation in the system at depth. AbraSilver trades on the TSX Venture with ABRA and on the OTC with ABBRF. News Release
Wallbridge Mining announced new results from its definition drill program at the Fenelon Gold Property, with strong gold intersections that continue to confirm the grade and geometry of the central portions of the Tabasco-Cayenne and Area 51 Zones, in support of the maiden mineral resource estimate planned for Q3 2021. Highlights included 3.61 g/t gold over 63.9 meters, 25,66 g/t gold over 3.9 meters and 6.88 g/t gold over 6.75 meters. The results of the definition drilling program presented in this release continue to outline the high metal factor domain of the Tabasco-Cayenne Zones, which forms part of the larger gold mineralized corridor and has thus far been drilled over a strike length of 800 metres to a vertical depth of 1,000 metres. Wallbridge trades on the TSX with WM. News Release
Late last year, Equinox Gold announced the friendly acquisition of Premier Gold, and hence had taken a 50% interest in the Hardrock Project in Ontario. For an update into the latest developments form Hardrock, here’s Kylie Williams.
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Ethos Gold announced it has entered into an earn-in agreement under which Ethos may earn a 100% interest in the 4,400 hectare Heaven Lake claim block located 20 km north of Impala Canada's Lac des Iles platinum group elements mine, Ontario. Following data compilation and creation of a digital database, the Company plans to initiate a tightly spaced VTEM airborne program. Target follow up in the summer of 2021 including intensive prospecting of conductors, trenching/stripping to understand geologic setting, and possible till sampling. Key target areas to develop into drill targets for Q4 2021. Ethos trades on the TSX Venture with ECC and on the OTCQB with ETHOF. News Release
And we have a few notable additions to management and executive board positions to share. Great Bear Resources has added Gilbert Lawson to its Board of Directors. Mr. Lawson was CEO of TMAC Resources. Lisa Ross has been named VP and CFO of Revival Gold. And Radisson Mining has appointed Hubert Parent-Bouchard as CFO, who has had responsibilities with the company for more than 6 years now.
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I’m Trevor Hall. Have a wonderful day. Be well.
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