Vizsla Silver's Maiden Mineral Resource Estimate for Panuco
Welcome to Mining Stock Daily. I’m Trevor Hall. And I’m Paul Harris.
Today is Tuesday, March 1st.
On Monday gold traded in a range between US$1,920 per ounce and $1892, settling the day at $1,911. Similarly, silver traded between $24.65 per ounce and $23.27, settling at $24.50. The Mining Stock Journal said that the trading action in the metals is being dictated by the geopolitical news flow. However, the metals are also starting to price in the anticipation of a continued move higher in inflation. The Mining Stock Journal said it is encouraged that gold seems to be holding the $1,900 level and silver holding $24.
The mining stocks on Monday zig-zagged from positive to negative versus Friday's close and ended slightly red for the day. The newsletter noted that, if gold holds $1,900 and silver can hold $24 and drift higher from there without too much volatility, they have the potential to explode higher given how cheap they are relative to both the underlying metals prices as well as all other financial assets.
We will get to the news from the miners and explorers in a moment, but first a word about today’s sponsor.
This episode of Mining Stock Daily is brought to you by… Arizona Sonoran Copper Company.
Arizona Sonoran Copper Company is a lower-risk copper developer with a significant exploration potential on private land just south of Pheonix, in an infrastructure rich area of Arizona. The Cactus Project PEA illustrates an 18 year mine life, generating US$1 Billion post-tax free cash flow. It is a scalable, low capital intensity project with strong leverage to the copper price. The Company is led by an executive management team and Board which have a long-standing track record of successful project delivery in North America complemented by global capital markets expertise. Read more about the company at arizonasonoran.com.
And here’s what you need to know this morning….
Vizsla Silver announced a maiden mineral resource estimate for its Panuco silver-gold project in Sinaloa, Mexico. The indicated resource is estimated at 6.9 million tonnes grading 150 grams per tonne silver, 1.64g/t gold, 0.27% lead and 0.53% zinc for a 370g/t silver equivalent containing 33.2 million ounces of silver, 362,600oz of gold, 18,000 tonnes of lead and 36,000 of zinc, or 81.6Moz silver equivalent. Panuco also hosts an inferred resources of 5.3Mt grading 334g/t silver equivalent containing 56.9Moz. The resource is based on 445 holes for 124,915m. The company said that every vein included in the resource remains open for expansion. Vizsla plans to update the resource in the second semester on the back of its ongoing 120,000m infill/discovery-based drill program. Vizsla Silver trades on the TSXV and NYSE under VZLA. News release
O3 Mining published an updated mineral resource estimate for its Marban gold project located in Val-d'Or, Québec, Canada which includes 39,208m of infill and expansion drilling around the open pittable areas defined in its 2020 preliminary economic assessment. The measured & indicated open pittable resource is now 2.3 million ounces grading 1.07 grams per tonne, which represents an increase of 520,000oz, or 29%, in the indicated category, while the average grade increased 2%. Measured and indicated resources now represent 91% of the total resource. A pre-feasibility study is due to be completed later this year and the company also plans to commence a 20,000m brownfield exploration program to increase near-surface resources and ounces at Marban. O3 Mining trades on the TSXV under OIII and on the OTCQX under OIIIF. News release
G2 Goldfields announced additional high-grade gold assays from multiple drill holes at its OKO project in Guyana. To date, the company said it has completed 116 holes for 28,808m. Highlight today included 14.3m grading 8.2 grams per tonne in hole 103 and 15.5m grading 8.5g/t in hole 106. The company said the depth of mineralization is enhanced by hole 103 which intercepted Shear Zone 3 at a vertical depth of 396m. A maiden resource estimate is due later in March. G2 Goldfields trades on the TSXV under GTWO and on the OTCQX under GUYGF. News release
Baroyeca Gold & Silver assay results from seven drill holes from its phase 1 program at its Atocha high-grade silver project in Tolima, Colombia. Baroyeca has now drilled thirteen holes at the La Ye target for a total of 1,700m which has covered about 300m of strike length of the vein corridor testing the shallowest part of the vein corridor. Highlights included 80cm grading 2,233 grams per tonne silver equivalent, 50cm grading 1,137g/t and 40cm grading 981g/t. The company has completed phase 1 drilling at La Ye and is now moving to a new target, Veta Grande. Baroyeca Gold & Silver trades on the TSXV under BGS. News release
Ethos Gold announced initial channeling sample results at the Quinlan and Titan showings, from the Company's Toogood property in New World Island, Newfoundland. Stripping and detailed geological mapping and sampling have identified a 40m by 10m wide mineralized zone at Titan. A total of 50 channel samples across five separate channels (total 27.94m) to test the continuity of mineralization within quartz-ankerite veins hosted in altered shale and greywacke. Channel samples returned assays of 37.14 g/t Au over 0.8m. At the Quinlan showing, stripping of the outcrop and subsequent geological mapping, and sampling has identified a 200m by 15m wide mineralized zone, open to depth. A total of 59 channel samples across seven separate channels (total 30.08m) have been collected to test the continuity of mineralization. Channel samples returned assays of 10.98 g/t Au over 3.45m, and 7.64 g/t Au over 4.05m. The summer 2022 field program aims to conduct ground induced polarization and drilling at Quinlan and Titan to test the width and extent of the gold mineralisation along strike and to depth. The maiden drill program is expected to total of 2500m and begin in May 2022. Ethos Gold trades on the TSX Venture with ECC and on the OTCQB with ETHOF. News Release
Victoria Gold published assay results received to date from the 2021 Dublin Gulch exploration program Lynx diamond drillholes. Lynx is a newly developing on/near-surface gold target within the Dublin Gulch Gold Camp. Results included 2.00 g/t Au over 32.3m and 3.42 g/t Au over 18.3m. During the 2021 season, over 20,000 meters (m) of diamond drilling were completed across the claim package; including 11 holes for 2,706 m drilling at Lynx combined with a suite of surface trenches, mapping and soils geochemical surveys. Victoria Gold trades on the TSX with VGCX. News Release
Karora Resources said new nickel exploration results from the 50C nickel trough at Beta Hunt extended the known strike length to over 200m from 150m. It said the company is now working on a new nickel mineralization model for the Gamma Block which will use the new drill results from both 50C and 10C areas to enhance identification of drill-ready targets and support an updated nickel resource during the March quarter. Drilling highlights included 3.8m grading 5.2% nickel in hole 8 at 10C. Karora Resources trades on the TSX under KRR and on the OTCQX under KRRGF. News release
That concludes today’s morning briefing.
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