Vizsla Resources Drills 1,541 g/t AgEq; First Assays from Aurelius Minerals
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Wednesday August 5th.
Gold soared over $2000 on Tuesday, with December gold trading at $2054 as of this morning. Silver pole vaulted 6.6% over $26 and september silver is trading at $26.96. The Mining Stock Journal said that gold drifted sideways around $1980 overnight on Tuesday but took off like a bat out of Hell as the stock market began trading and traded higher almost continuously leaving market participants with soar necks as they looked skyward to watch the action. The newsletter noted that the move started in the absence of any news or event triggers. In all likelihood, the precious metals market is starting to price in the inevitability that the Fed will have print trillions more and the Government will have to hand out trillions more in order to prevent a total systemic collapse. Given the magnitude of the move since March, especially over the last couple weeks, some type of pullback or period of consolidation would be helpful to set up an even higher move. But the market is going to go where it is going go and if the Nasdaq can go straight up for 3 1/2 months, there's no reason the metals and mining stocks can't do the same.
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…
Vizsla Resources shared additional drilling results from the Napoleon Vein Corridor at the Panuco silver-gold project in Mexico. Today’s results included 1,541 g/t silver equivalent over 2 meters from hole 8, which is the deepest hole drilled to date. Vizsla also reported 1,228 g/t silver equivalent over 1 meter from a separate hole. The mineralization remains open at depth, to the north and to the south. Vizsla has an option to acquire 100% of the newly-consolidated 9,386.5 Ha Panuco district in southern Sinaloa, Mexico, near the city of Mazatlán. The option allows for the acquisition of over 75 km of total vein extent, a 500 tpd mill, 35 kms of underground mines, tailings facilities, roads, power and permits. The company trades on the TSX Venture with VZLA and on the OTCQB with VIZSF. News Release
Aurelius Minerals announced assay results from hole 11, which is the first of 18 previously drilled and unsampled holes, from 2009 and 2010 drilling on the recently acquired Aureus West property. Hole 10-SR-111 was drilled to a depth of 122 metres (m) and represents the first of over 2,700m of recently located unassayed core. The Company became aware of these holes and located the unsampled core stored in a sealed container at an off-site storage facility. Aurelius has located and confirmed the collar locations of these holes and commenced logging, sampling and assaying in early June. The core returned 65.2 g/t gold over 2.1 meters, including 479 g/t gold over .3 meters starting at 55 meter depth. Aurelius Minerals trades on the TSX Venture with AUL and on the OTC markets with AURQF. News Release
Dore Copper Mining shared results from its ongoing 2020 drill program at the Cedar Bay deposit. The Cedar Bay program is focused on testing the lateral extension of the 10-20 and Central veins and the vertical extension of the Main vein. Results today included 14.2% copper, 1.16 g/t gold and 28 g/t silver over 1.2 meters. The company says the results continue to support the eventual hub-and-spoke restart of the camp along with the Corner Bay and Joe Mann deposits using the existing 2,700 tpd mill as the central processing facility. Dore Copper trades on the TSX Venture with DCMC. News Release
Aquila Resources provided results of its Preliminary Economic Assessment for its Back Forty Project located in the Upper Peninsula of Michigan. The study shows a base case of 15.9 million tonnes with a grade of 4.2 g/t gold equivalent for 1.5 million ounces of payable gold equivalent. With a 12 year mine life and initial $250 million capex, Back Forty shows a pre-tax NPV of just under $250 million and an IRR of 31.6%. Aquila trades on the TSX with AQA and on the OTCQB with AQARF. News Release
Amex Exploration reported the head grade from 3 metallurgy holes which were specifically drilled into 3 different Metal Factor isocontour areas of the High Grade Gold Zone of the Eastern Gold Zone (EGZ) at Perron. Results included 27.7 g/t gold over 11.8 meters and 12.7 g/t gold over 16 meters. The metallurgical drill holes were drilled in areas of the upper near-surface portion of the High Grade Zone (HGZ) that were anticipated to provide representative high, medium, and low grade samples. These metallurgy holes were drilled using large diameter PQ size drill holes to provide enough material for proper and representative testing. Of interest is the significant increase of visible gold grains and associated high grade mineralization in holes 001 and 003, which indicates that larger diameter drilling may be related to an increase in grade. Amex trades on the TSX Venture with AMX. News Release
Yesterday, Novo Resources announced it signed an arm’s length agreement to acquire all of the outstanding shares of privately held Millennium Minerals. Millennium’s assets are located approximately 10 km south of Novo’s 100% controlled Beatons Creek conglomerate gold project in the Nullagine region, Shire of East Pilbara, Western Australia and include the requisite processing infrastructure to accelerate Novo’s planned transition to a producing gold company. Novo says this acquisition fast-tracks Novo’s transition to becoming Australia’s next junior gold producer via production at its Beatons Creek Project while significantly reducing the timeline into production. Novo Resources trades on the TSX Venture with NVO and on the OTCQX with NSRPF. News Release
GoldMining Inc. says it has appointed DAvid Garofalo as Chairman, Chief Executive Officer and director of its subsidiary, Gold Royalty Corp. Mr. Garofalo was previously the CEO of Goldcorp before it merged with Newmont last year. He was named Mining Person of the Year by The Northern Miner in 2012 and Canada's CFO of the Year by Financial Executives International Canada in 2009.
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I’m Trevor Hall. Have a wonderful day. Be well.
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