Morning Briefing: Arizona Sonoran Copper Extends Mineralization Below Cactus West Mineral Resource Shel

Welcome to Mining Stock Daily. I’m Trevor Hall. 


Today is Wednesday, January 10th. 


Tuesday gold trended higher overnight and through the usual early a.m. price containment gauntlet in London and New York. After trading as high as $2048, the yellow dog was beaten down with a rolled up newspaper just before the NYSE opened. After finding a bottom at $2032, the price grinded higher to close the afternoon trading session at $2036. Silver pretty much mirrored the price action in gold, peaking at $23.44 before getting shoved lower to as low as $23.08, March contract basis. Silver grinded higher from there to close out the day at $23.16. The mining stocks were spanked at the NYSE open, with GDX down as much as 2.1% intra-day before closing down 1.8%. The Mining Stock Journal commented that it believes that the pullback in the precious metals sector, with sentiment indicators showing fear and technical indicators registering oversold levels, is nearing the end of the pullback.


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. 

Arizona Sonoran Copper Company (ASCU:TSX) is focused on developing its brownfield copper project on private land in Arizona, a tier 1 location. The Cactus Mine Project is located less than an hour's drive from the Phoenix International airport via highway i-10, and with grid power and the Union Pacific Rail line situated at the base of the Cactus Project main road. With permitted water access, a streamlined permitting framework and infrastructure already in place, ASCU's Cactus Mine Project is a lower risk copper development project in the infrastructure-rich heartland of Arizona.For more information, please visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.arizonasonoran.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.


And here’s what you need to know this morning….


Arizona Sonoran Copper reported additional drill assay results from the Cactus West and Cactus East deposits within the Cactus Project. At Cactus West, infill and geotechnical drilling returned wide intervals of primary copper mineralization both below and at the extents of the Cactus West mineral resource shell with 223 m of 0.92 % CuT, 432 m of 0.45% CuT, and 269 m of 0.52% CuT. ASCU is currently finalizing the 2024 work plan, which will include follow up drilling at Cactus West and MainSpring, and metallurgical test work for the Nuton Case Integrated Pre-feasibility Study. The Nuton case PFS will build upon ASCU’s Standalone PFS expected in Q1 2024. (TSX:ASCU | OTCQX:ASCUF) News Release


Kingfisher Metals provides results of its full 2023 campaign on the HWY37 Project in British Columbia. A ~100 m southern step-out at the Mary porphyry deposit returned 0.43 g/t Au Eq over 438 m. A ~1,000 m southeastern step-out from Mary delineated a large alteration body below the barren cover at the Mary Root Zone target consistent with a flanking zinc-rich ‘pyrite halo' position to a porphyry core including 241.7 m of 0.31 g/t Au Eq. he Mary deposit is one of three advanced targets on the HWY 37 Project in addition to the Williams Cu-Au porphyry deposit and the Hank Au-Ag epithermal deposit. (TSXV:KFR) (OTCQB:KGFMF) News Release


Meridian Mining provided a corporate exploration and advancement strategy for the Cabaçal VMS Belt. There are a few things to take note of. he Cabaçal Project's current engineering and drill programs will be upgraded to complete a Pre-Feasibility Study on an expanded production case, to delineate higher certainty of the core asset value. Due to the continued success of drilling at the Santa Helena mine ("Santa Helena"), the Company has decided to advance the historical mine towards a resource estimate to maximize its optionality within the broader VMS belt. On top of this, Meridian also released new drill results from Santa Helena. The company says they have discovered a rich layer of Au-Cu-Ag and Zn VMS mineralization projecting below the main VMS mine horizon at Santa Helena, grading 11.0m @ 5.2g/t AuEq and 6.8m @ 3.3g/t AuEq. (TSX:MNO) (OTCQX:MRRDF) News Release


American Lithium published results for their updated preliminar economic assessment or the Falchani Lithium project located in Puno, southwestern Peru. The project currently sits with an after-tax NPV of $5.11 billion at a lithium carbonate price of $22,500 per tonne. That is a triple from its 2019 report. Its after-tax IRR currently stands at 32%. This PEA mine and processing plan produced 2.64 Mt of lithium carbonate over its 43 year mine life. Initial capital costs, per this report, sits at $681 million. (TSX-V:LI | NASDAQ:AMLI) News Release


The Mining Stock Daily morning briefing is produced by Clear Commodity Network and Investment Research Dynamic’s Mining Stock Journal. It is distributed throughout the world through your podcast network of choice, and by our friends at the Junior Mining Network. 

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.

Trevor HallGold, Silver, London, New York, NYSE, GDX