Morning Briefing: Collective Mining Expands the Shallow Mineralization at Apollo
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It's Wednesday August 20th
The precious metals showed more weakness yesterday while the dollar was on an upward trajectory. The gold miners, in customary fashion, over exaggerated the move in the metal with the GDX and GDXJ really taking it on the chin. Data from global gold ETFs show that investment momentum is slowing with Asia recording outflows. Potential policy easing for a sniff of it from Jerome Powell this week may renew the positive momentum. We will have to wait and see. Gold was down a half a percent yesterday, closing below that 50 day moving average which had held as support. The GDX was down more than two and a half percent on the day. The silver lining this morning is that the metal is now climbing higher, taking back all that was lost yesterday.
We’ll get to the news from the miners and explorers here in a moment, but first a quick word about today’s sponsor.
This episode of Mining Stock Daily is brought to you by…Vizsla Silver.
Vizsla Silver is focused on becoming one of the world’s largest single-asset silver producers through the exploration and development of the 100% owned Panuco-Copala silver-gold district in Sinaloa, Mexico. The company consolidated this historic district in 2019 and has now completed over 375,000 meters of drilling. The company has the world's largest, undeveloped high-grade silver resource. Learn more at https://vizslasilvercorp.com/
And here’s what you need to know this morning…..
Collective Mining announced new assay results for four diamond drill holes designed to better outline and expand the shallow portion of gold-silver-copper-tungsten mineralization at the Apollo system. Hole 134 returned 183.70 metres @ 3.01 g/t gold equivalent while hole 136 returned 37.15 metres @ 7.05 g/t gold equivalent. Other holes returned 111.05 metres @ 1.79 g/t gold equivalent and 31.40 metres @ 3.55 g/t gold equivalent. Drill intercepts from the shallow program have expanded the volume of the shallow mineralized area by approximately five percent and have filled multiple gaps within the internal block model. Once the shallow drilling program has been completed, the average drill hole spacing will be 35 metres from surface to a vertical depth of 150 metres. (NYSE: CNL) (TSX: CNL) News Release
GoldMining Inc. reported on historic drill intercepts from its Crucero Project in Peru. These results are reported as part of the Company's previously announced ongoing review and validation of historic assay results, which has continued to show significant antimony mineralization, in conjunction with the known gold mineralization. Select intercepts returned 119m of 1.89 g/t AuEq, 60m of 4.34 g/t AuEq and 44m of 6.79 g/t AuEq. The Company is actively advancing work to incorporate antimony into a new gold-antimony mineral resource estimate for the Project. (TSX: GOLD) (NYSE American: GLDG) News Release
Torq Resources announced drill results from the Phase III diamond drilling campaign at its Santa Cecilia gold - copper porphyry project, located in the prolific Maricunga belt, in the Atacama region of Chile. Three drill holes completed at Gemelos Norte target confirmed a new copper gold porphyry discovery within the Santa Cecilia project including 450m of 0.51 g/t gold and 0.155% copper while step-out drilling at Pircas Norte extended mineralization at depth drilling 206m of 0.99 g/t gold and 0.109% Cu within 266m of 0.81 g/t Au and 0.097% Cu.Currently, the known gold-copper mineralization at Santa Cecilia extends in an east-west direction for approximately 3,500m. (TSX-V:TORQ) (OTCQB:TRBMF) News Release
Q2 Metals shared results of the Phase 1 metallurgical test work on core samples collected in last year’s drill program at the Cisco Lithium Project in Quebec. The objective of the preliminary test program was to achieve a spodumene concentrate at ~70% recovery with Heavy Liquid Separation (“HLS”) test work to confirm the potential suitability of a Dense Media Separation (“DMS”) process. The results of this test work confirms that strong recoveries can be achieved with a DMS circuit and as expected, the low iron content of the head samples continues through to the concentrate. The next phase of metallurgy work will include additional HLS test work on other areas of the main mineralized zone at the Cisco Project. (TSX.V: QTWO | OTCQB: QUEXF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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