Vizsla Extends Papayo Zone; Amex Makes new Gold Discovery
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Monday, January 25th.
On Friday, after a blatant price ambush that started an hour before the a.m. fix in London took February gold down over $30 to as low as $1836, gold surprisingly spiked up after the Comex open and managed to claw back $24 to close at $1856. Silver was pushed down to its 50 dma at $25.06 and sprung back 50 cents to close comfortably above the 50 dma at $25.56. The Mining Stock Journal said that, per the weekly Commitment of Traders report, it looks as if the bullion banks are using the manipulated price hits to reduce their short position in paper gold. The mining stock newsletter also noted that the latest monthly BIS report for December showed that BIS gold swaps hit a new all time high. No explanation for the continuing high level of swaps has been published by the BIS. It is likely that the BIS is making physical gold available to the bullion banks to cover physical gold delivery liabilities in connection with the banks' short position in the gold derivatives markets. On a final note, the Mining Stock Journal said that, barring a stock market accident, which is a distinct possibility, the precious metals sector is getting ready to make another big move higher.
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.
Vizsla Resources provided results from eight new holes at the Papayo prospect at the Panuco silver-gold project in Mexico. Results included 413 gt silver equivalent over 1.91 meters, and included a .69 meter interval grading 1,009 g/t silver equivalent. Other results included 321 g/t silver equivalent over 2.46 meters. These results extend the Papayo zone over 120 metres to the south where it remains open. Vizsla has commenced a systematic 100m spaced program to test the entire 2.7km length of the corridor to find new zones and define the total endowment of the Napoleon Vein. The company trades on the TSX Venture with VZLa and on the OTCQB with VIZSF. News Release
Revival Gold provided results from the final seven drill holes from the Company’s 2020 drilling program on the Haidee zone at the past-producing Beartrack-Arnett Gold Project located in Idaho, USA. The seven holes released today are core holes drilled in the Haidee zone to upgrade and expand the resource. All holes intersected near surface oxidized gold mineralization. Results included .55 g/t gold over 16.7 meters, .61 g/t gold over 18.6 meters and .56 g/t gold over 22.6 meters. The Haidee zone remains open and now extends over 600 meters of strike and projects across strike and up dip about 400 meters. Revival Gold trades on the TSX Venture with RVG an don the OTCQB with RVLGF. News Release
K2 Gold received assays for the final five reverse circulation holes drilled at the Dragonfly zone, located within its 100% owned Mojave property in Southern California. Results included 7.2 g/t gold over 30.5 meters starting at surface, and inluced 11.1 g/t gold over 15.2 meters. The Dragonfly results confirm the broad intervals of gold mineralization reported from previous drilling by BHP and demonstrates strong continuity at Dragonfly along strike. Assays are pending for nine additional holes from the Newmont zone 3 km to the south of Dragonfly. K2 Gold trades on the TSX Venture with KTO and on the OTCQB with KTGDF. News Release
Turmalina Metals says the final hole from the 2020 drilling program at the San Francisco project has returned multiple intercepts of high-grade copper-gold and silver mineralization below all previous drilling. Results included 86 meters grading .47% copper, 1.8 g/t gold and 67 g/t silver and 72 meters grading 3.47% copper, .71 g/t gold and 100 g/t silver. This hole doubled the known depth of the strong mineralized system. Turmalina trades on the TSX Venture with TBX and on the OTCQX with TBXXF. News Release
Amex Exploration announced the discovery of a new high-grade gold structure by drilling an intersection returning 31.87 g/t Au over 5.10 metres on a new target area on its flagship Perron property. The drill intersection is located approximately 650 metres north-west of the High Grade Zone (HGZ) and 500 metres north-east of the Grey Cat Zone (GCZ) that represents a new gold-bearing area. Amex is currently drilling a fully funded 300,000 m drill program with 10 drill rigs in operation at the Perron Property, with a focus on the Eastern Gold Zone, comprising of the High Grade Zone and the Denise Zone. Of these 10 rigs two drill rigs are now assigned to exploration follow up of this new discovery target. Amex trades on the TSX Venture with AMX and on the OTCQX with AMXEF. News Release
Fury Gold Mined released the results from its first exploration drill hole from the Eau Claire deposit located in the Eeyou Istchee Territory in the James Bay region of Quebec. The drill hole intercepted 3m of 2.59 g/t gold within a broader interval of 8m of 1.21 g/t gold at a drill depth of 643m to 651m. Fury Gold Mines trades on the TSX with FURY and on the NYSE American with FURY. News Release
Mining Stock Daily is distributed over a dozen different networks throughout the world and in proud partnership with the Junior Mining Network. It is produced by Clear Creek Digital and Investment Research Dynamic's Mining Stock Journal.
I’m Trevor Hall. Have a wonderful day. Be well.
The information presented should not be considered investment advice. Mining stock daily and its affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein. Please do your own research or speak with a licensed financial representative before making any investment decisions.