Morning Briefing: G2 Goldfields Drill Promising Mineralization at New Discovery Area
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It's Tuesday, July 15th
Gold opened Asian trading hours down yesterday evening but has since climbed its way to pretty much flat from where it closed yesterday. $3,362 per ounce is where the yellow metal was at time of recording, but this is before some much anticipated inflation data is to be released. Analysts believe that this CPI print out today will provide some clarity into how tariff policies are affecting consumer prices, despite many trade deals with US trading partners not being complete. Markets remain confident in a fed rate cut later this year. Hot inflation data, however, could derail those expectations. Silver peaked out at $39.60 yesterday before falling while copper continues to find support around $5.50 a pound.
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…Equinox gold
Equinox has recently completed the business combination with Calibre Mining to create an Americas-focused diversified gold producer with a portfolio of mines in five countries, anchored by two high-profile, long-life Canadian gold mines, Greenstone and Valentine. Learn more about the business and its operations at equinoxgold.com
And here’s what you need to know this morning…..
G2 Goldfields announced new assay results from the Company’s ongoing drilling program in the greater OKO-AREMU district, Guyana. Today’s news comes from the new discovery area initially announced in March which lies 10km north of its existing gold resources at the Oko-Ghanie Deposit. Drilling there intersected 5.9 g/t Au over 60m, 2.2 g/t over 99.9m and 3 g/t over 51m. Five drill rigs active in the Discovery Area. A mineral resource estimate is expected in early Q4 as well as a preliminary economic assessment. (TSX: GTWO; OTCQX: GUYGF) News Release
AbraSilver announced new drill results from its ongoing Phase V exploration program at its wholly-owned Diablillos project in Argentina. Step-out hole DDH 25-062, intersected a continuous 42.0 metre (“m”) interval grading 0.68 g/t gold and 15 g/t silver from 248 m down-hole, including a higher-grade core of 7.0 m at 1.67 g/t gold and 17 g/t silver. This hole was drilled at Oculto East, beyond the eastern edge of the current conceptual open pit, confirming the extension of mineralization into a previously underexplored area. Follow-up drilling is underway, with three drill rigs now focused on delineating the size and continuity of this promising zone. (TSX: ABRA; OTCQX: ABBRF) News Release
Gladiator Metals announced results for its three hole drill program at the Best Chance Prospect in Yukon. Results included intercepts of 77.25m of .7% Cu, 13.38m of .85% Cu and 2.59m of 9.95% Cu. Mineralization reported is consistent both with high-grade copper-gold-magnetite skarn mineralization previously mined at the Arctic Chief deposit 1.5km to the south of Best Chance. However, broad widths of high-grade copper-silicate skarns were also encountered as part of Gladiator's first pass drilling. (TSXV: GLAD) (OTCQB: GDTRF) News Release
Maple Gold Mines reported final assay results from 16 holes complete don the winter drill campaign on the Douay Gold Project in Quebec. Step-out drilling in the 531 Zone and the Nika Zone continues to confirm significant extensions of high-grade gold zones well below the current Douay mineral resource estimate conceptual pit shells, demonstrating the potential for bulk tonnage underground gold mineralization at depth. Select highlights reported today included 4.87 g/t Au over 15m, 3.66 g/t Au over 11.4m and 3 g/t over 10.8m. All of these holes come from the 531 Zone. In the Nika Zone, results included 2.1 g/t over 108.6m and 1.26 g/t Au over 60m. (TSXV: MGM) (OTCQB: MGMLF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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