Roscan Gold Continues to Increase Land Position
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Monday, January 11th
Gold and silver were monkey-hammered relentlessly on Friday despite a proliferation of news that, in the absence of the official gold price intervention efforts, should have sent gold and silver soaring. Gold had as much as $82 removed from its price and silver was hammered as much as 10%. However, the Mining Stock Journal said that the sell-off occurred in the paper derivative markets of London and NYC, as the metals did not commence a waterfall decline until after the physical buying markets in Asia and India were closed for the weekend. The bulk of the sell-off occurred in the paper derivative markets of London and NYC. The Mining Stock Journal said that at least 90% of the time gold is price-ambushed like this ahead of and concurrently with the release of the Government’s monthly non-farm payroll report. Friday’s report was far worse than expected and this should have been a bullish catalyst for the gold and silver. The Mining Stock Journal has been suggesting that gold and silver would encounter a high degree of volatility as they move higher in prices, as intense price control efforts will be offset by increased demand for physical gold and silver globally
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 has strategically expanded its land package by acquiring the property to the immediate West of the Mankouke Permit (Figure 1), which is a crucial additional 16km^2 to the Kandiole Project. The company says it is clearly apparent that the magnetic signature of the Siribaya-Mankouke-Seko Structure and the mineralization outlined in the Mankouke Trend extends over the newly acquired Mankouke Prospecting License. Additionally, Roscan has completed a "Hi-Resolution Airborne Geophysical Survey", which consists of approximately 3,900 kilometers of flight lines at approximately 30m above ground over the Company's entire Kandiole Project. Data processing and interpretation will now be undertaken, followed by development of magnetic inversion and electromagnetic models. This digital information will then be integrated with all drilling data, surface geochemistry, geology and regolith maps in a generative study designed to develop targets for follow up exploration in 2021. Roscan Gold trades on the TSX Venture with ROS and on the OTC with RCGCF. News Release
Clarity Gold announced that all of the conditions set forth in the previously announced option agreement with Big Ridge Gold Crop has been satisfied which will enable the parties to move forward with their obligations. Under the Option Agreement, Clarity has the option to acquire up to 100% of Big Ridge’s right, title and interest of the Destiny Project located in the prolific Abitibi Region in Quebec. In order to maintain the Option in good standing, Clarity must next make a cash payment of $450,000 and issue common shares in the capital of the Company having a value equivalent to $1,000,000 to Big Ridge on or before January 26, 2021. Destiny currently has a indicated resources of 360,000 ounces and an inferred resource of 247,000 ounces. Mineralization is open to depth and along strike. Clarity Gold trades on the CSE with CLAR and on the OTC CLGCF. News Release
New Placer Dome reported assay results for the initial nine reverse circulation drill holes completed during 2020 at its flagship Kinsley Mountain Gold Project in Nevada. The company says eight of the nine drill holes had significant gold intercepts and have the potential to increase mineral resources in several different zones. Highlights included 10.2 g/t gold over 6.1 meters, 3.38 g/t gold over 21.34 meters and 5.15 g/t gold over 10.67 meters. The recently completed 2020 Kinsley Mountain RC and diamond drill campaign comprised 49 drill holes totaling 17,970 metres. Assay results from the remaining 40 holes are still pending. New Placer Dome trades on the TSX Venture with NGLD ando n the OTCQB with NPDCF. News Release
Wolfden Resources announced additional positive step-out drill results proximal to the known polymetallic mineral resource of the Company's wholly owned Pickett Mountain deposit in Northeastern Maine. Hole PM20-07 intersected 52.9% ZnEq over 0.75 metres that is comprised of 24.2% Zn, 11.2% Pb, 3.1% Cu, 514 g/t Ag and 2.1 g/t Au. The intersection occurs in a footwall lens that roughly parallels the East and West Lenses, 150 metres to the north. Assays are pending for additional narrow intervals of footwall massive sulphide mineralization, that appear to correlate with this intercept. Further drill testing of this narrow and higher-grade massive sulphide lens, is expected to occur this winter, once all assays have been received and evaluated. Wolfden trades on the TSX Venture with WLF. News Release
Banyan Gold was also out this morning with new drill results from the AurMac Property in Yukon. Results announced today included .69 g/t gold over 38.3 meters, 1.09 g/t gold over 40 meters and .91 g/t gold over 20.5 meters. The company says these results demonstrate the AurMac mineralized system extends over 2.5 kilometers. Banyan trades on the TSX Venture with BYN. News Release
Wallbridge Mining says due to the large increase in size potential of its Fenelon Gold Property, demonstrated by the exploration success in 2020, the Company’s Board of Directors has approved a 2021 program of approximately 170,000 metres of drilling and 4,800 metres of underground exploration development. The program involves spending of approximately $79 million for 2021, which includes approximately $75 million on exploration and underground exploration development. The Company is fully-funded to carry out the planned program. Wallbridge trades on the TSX with WM. News Release
Equinox Gold announced it exceeded 2020 revised guidance, producing 477,200 ounces ("oz") of gold for the year. Production for Q4 2020 totalled 136,400 oz of gold, including gold poured during commissioning and ramp-up at Castle Mountain. Full financial and operating results will be reported in early March.
Dundee Precious Metals says it has achieved record gold production in 2020 from their mines in Bulgaria and the Tsumeb smelter in Namibia. The Company plans to release its fourth quarter and full-year 2020 operating and financial results after market close on Thursday, February 11, 2021.
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I’m Trevor Hall. Have a wonderful day. Be well.
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