Morning Briefing: Generation Mining Received Final Permit Required for Marathon Project
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It's Thursday, May 22nd.
Gold continued its streak yesterday as the dollar dropped and bond yields continued to rise. Chinese customs data showed a big rise in gold imports in April, reaching an 11-month high of 127.5 metric tonnes. But the immediate news which moved gold higher was the poor auction on 20-year treasury note was weak, and caused the entire bond market to react, rising meaningfully across the board. Debt markets are wary of the potential for even greater deficits if President Trump’s proposed tax-cut bill is passed. That bill was based in congress this morning by a slim margin. Silver reached the top of its tight trading range once again yesterday, closing at 33.64/oz.
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…..
Troilus Gold reported new drill results from the Southwest Zone at the company's Troilus Project in Quebec. The results reported today continue to demonstrate strong continuity of mineralization at surface and reinforce the potential to optimize and de-risk the Southwest Zone block model, which currently covers years 1 to 5 of the mine plan. Hole 681 returned 1.79 g/ tAuEq over 36m while hole 709 returned 1.52 g/t AuEq over 21m. Drilling in the Southwest Zone is now complete, with assays pending for several holes including those testing near-site conceptual targets. As results continue to be received and interpreted, the exploration team will shift focus, advancing near-site and regional field targets. The next phase of drilling is planned for the third quarter of 2025. (TSX: TLG; OTCQX: CHXMF) News Release
Azimut Exploration reported drill results from its program on the antimony-gold Fortin Zone at its Wabamisk Property in the Eeyou Istchee James Bay Region of Quebec. Results included 1.1% Sb and .38 g/t Au over 51.5m and 1.08% SB and .53 g/t Au over 22.7m. The initial plan for 5,000 metres was expanded in January, and the program concluded in late March with a total of 51 diamond drill holes for 6,396 metres. The results of this program support the preparation of the summer drilling campaign, which will include 10,000 metres of infill and expansion drilling. (TSXV: AZM) (OTCQX: AZMTF) News Release
American Eagle Gold announced their plans for a fully funded 30,000m drill program at NAK in British Columbia. This season's objectives are to expand the high-grade, near-surface copper-gold zone in the south section of the Main Zone, identify new high-grade zones north and at depth of the north section of the Main Zone, and drill newly identified targets in untested areas on the property through strategic step-outs defined through integrated geophysical, geological, and geochemical data. (TSXV: AE) (OTCQB: AMEGF) News Release
Generation Mining has received the final key permit required for the construction of the Marathon Copper-Palladium Project (“Marathon Project”) in Northwestern Ontario. The Environmental Compliance Approval – Industrial Sewage Works (ECA-ISW) has been received from the Ontario Ministry of Environment, Conservation and Parks for the management and discharge of water for the construction phase of the Marathon Project. (TSX:GENM, OTCQB: GENMF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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