Roscan Expands Mineralization; Great Bear Discovers New Vein Zone
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Thursday, March 11th.
After testing $1706 early Wednesday morning, gold ran over $20 to as high as $1724 April basis, where it settled Wednesday afternoon. Silver shadowed gold, trading down to $25.70 March basis Wednesday morning and then subsequently shot up to $26.30 where it settled. The Mining Stock Journal said that all of the markets were jiggy on Wednesday as the House passed the stimulus Bill and sent it to the White House for Biden's signature. The tmining stock newsletter added that the US Dollar was spanked for close to 1% on Wednesday from its overnight high, which helped fuel the precious metals' rally. Now the Treasury will have to fund the $1.9 trillion stimulus legislation, which will likely require another big slug of money printing from the Fed, which should further fuel a move higher in the precious metals sector. The mining stocks rose generically around 0.4%, with GDX tagging its 21 day moving average before closing slightly below this key moving average. The Mining Stock Journal believes the sector may have bottomed this week but would like to see further confirmation.
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… Rio2.
Rio2 is advancing the Fenix Gold Project in Chile, the largest undeveloped gold heap leach project in the Americas. Fenix consists of 5 million ounces in the measured and indicated resource category and 1.4 million ounces in the inferred resource category. With a robust PFS in place, Fenix is set up for fast-tracked construction and production. You can find a list of project and company information on their website, rio2.com.
And here’s what you need to know this morning.
Roscan Gold provided more drill results from the Kandiole North discovery where the mineralized zone is expanding in size. The latest drilling results include 6.67 g/t gold over 4 meters, 5.43 g/t gold over 7 meters, 9.3 g/t gold over 4 metes and 9.79 g/t gold over 2 meters. The full list of results will be found on today’s news release. Many of these holes ended in mineralization. Kandiole North has been returning some great results and shaping up to be a key deposit for resource definition with 2km strike length and 92m depth and remains open for further expansion along strike and at depth. Roscan trades on the TSX Venture with ROS and on the OTC with RCGCF. News Release
Great Bear also reported new drill results this morning. This morning’s news release provides results from 10 new LP fault drill holes along 225 meters of strike length. Additional drill results provided in this release included Discovery of a new high-grade vein zone beside the Hinge zone and preparation for directional drilling of the Dixie Limb and Hinge zones. Highlights include 29.17 g/t gold over 15.5 meters, 18.08 g/t gold over 15.8 meters and 62.13 g/t gold over 1.6 meters. Strong continuity of gold mineralization continues to be observed on a section-by-section basis, and vertically within drill sections. Great Bear trades on the TSX Venture with GBR and on the OTCQX with GTBAF. News Release
Marathon Gold reported the first drill holes completed under the 2021 exploration program at the Valentine Gold Project, central Newfoundland (the “Project”). These latest results represent fire assay data from seven drill holes located within the 1.5 kilometre long Berry Zone. Highlights include 6.57 g/t gold over 22 meters, 37.9 g/t gold over 1 meters and 43.7 g/t gold over 1 meters. Since beginning the drill program in January, the company has completed 37 holes with three rigs operating for a total of just over 10,000 meters drilled. Marathon Gold trades on the TSX with MOZ. News Release
Amex Exploration reported a number of high grade drill results focused on expansion and definition of the High Grade Zone ("HGZ") of the Eastern Gold Zone ("EGZ") of the Perron Gold Project, Quebec. Today's results significantly confirm expectations of the continuity of the HGZ as Amex works to drill off its maiden resource on the PerronProject. Highlights include 49.04 g/t gold over 2.2 meters, 13.94 g/t gold over 3.25 meters and 17.89 g/t gold over 8.4 meters. In addition to these results, Amex is waiting on over 15,000 samples at the lab from holes targeting the HGZ, Denise, and Grey Cat Zone, as well as regional exploration drilling. Amex trades on the TSX Venture with AMX and on the OTCQX with AMXEF. News Release
And now its that time, when we turn it over to our friend Kai Hoffman for the Oreninc weekly update.
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Gatos Silver announced this morning it has commenced drilling at the Santa Valeria project, which is located in southern Chihuahua, Mexico. It is 5 kilometers east of the Los Gatos Joint Venture’s 103,000-hectare Los Gatos District mineral concession block. Gatos Silver owns 100% of Santa Valeria, which appears to have similar geologic setting to the Cerro Los Gatos deposit on the eastern flank of the same sedimentary basin. An eighteen-hole, 5,400-meter drill campaign is planned for the initial test of the principal targets. Gato Silver trades on the TSX and the NYSE with GATO. News Release
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I’m Trevor Hall. Have a wonderful day. Be well.
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