US Election Day Drill Results
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Tuesday, November 3rd.
Gold rose $13 on Monday, as it would appear that the Fed provided support to markets ahead of Tuesday's Presidential election, as the Dow rose over 400 points in the absence of any material fundamental news. The Mining Stock Journal said that, for now, gold and silver are confirming a bullish chart formation as well as discounting the probability that the Fed will pump more money into the financial system after the election. Speaking of silver, poor man's gold streaked back over $24, outperforming gold by a considerable margin, as the gold/silver ratio declined nearly 1%. The mining stocks were up generically per GDX 3%. The Mining Stock Journal said that India continues to hoover physical gold. The newsletter added that it expects Yamana's acquisition of Monarch Gold's Abitibi gold camp Wasamac project will put investor focus on several junior mining companies with Abitibi gold belt projects.
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… Western Copper and Gold.
Western Copper and Gold is focused on developing the world-class Casino project in Canada's Yukon Territory. The Casino project consists of an impressive 11 billion pounds of copper and 21 million ounces of gold in an overall resource. Western Copper and Gold trades on the TSX and the NYSE American with WRN. Be sure to follow the company via their website, www.westerncopperandgold.com.
And here’s what you need to know this morning.
Maritime Resources shared assay results from its ongoing exploration program at the Hammerdown Gold Project located near the towns of King's Point and Springdale, Newfoundland and Labrador. Highlights included 59.43 g/t gold and 45.9 g/t silver over .5 meters at the Hammerdown Gold Deposit, and 26.2 g/t gold over 4 meters at the Orion Deposit. Two diamond drill rigs are currently active at the Project completing infill and step out exploration on key targets at all deposits including Hammerdown, Orion and the Lochinvar VMS zone. Maritime trades on the TSX Venture with MAE. News Release
Winston Gold says its ongoing underground drilling program continues to intersect high-grade gold on the western extension of the Parallel vein system at its Winston Gold Project near Helena, Montana. Results announced this morning included 1.4 oz/ton gold over 5 feet and 3.9 oz/ to gold over a half a foot. The compan says they are still not clear of the full extent of the Custer or Parallel veins as we step out to the West, but these vein systems keep surprising them and surpassing expectations. Winston Gold trades on the CSE with WGC and on the OTCQB with WGMCF. News Release
Velocity Minerals announced results of additional drill holes at the Obichnik gold project in Bulgaria. Results have been received for 16 drill holes, including two drill holes at the new high-grade Premka discovery. That new Premka discovery returned 15.8 g/t gold and 76.72 g/t silver over 6 meters. Mineralization is open and drilling is ongoing. The company also announced it has decided not to exercise its option to acquire a 70% in the Sedefche project after a 5,500 meter exploration drilling program. Velocity trades on the TSX Venture with VLC. News Release
O3 Mining reported drilling results from the Malartic Property in Val D’Or, Quebec. Results included 2.9 g/t gold over 14.2 meters and 2.1 g/t gold over 10.5 meters. Current drilling on the Malartic property is focused on expanding mineralization outside of the proposed pit areas outlined in the Preliminary Economic Assessment (PEA) released in September. O3 trades on the TSX Venture with OIII. News Release
FireFox Gold has started drilling at its Mustajärvi Gold Project ("Mustajärvi") in the Central Lapland Greenstone Belt (CLGB) in Northern Finland. This drill program is part of the 2020 fall-winter drill campaign that is expected to include up to 1,400 metres of drilling to test new targets at Mustajärvi followed by approximately 400 metres of reconnaissance drilling at the Jeesiö Gold Project ("Jeesiö"), located approximately 40 kilometres to the southeast. FireFox trades on the TSX Venture with FFOX. News Release
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I’m Trevor Hall. Have a wonderful day. Be well.
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