Morning Briefing: Magna Mining Publish New Drill Results from Levack
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It's Tuesday August 19
It was a rather quiet day as we the metals and mining markets bask in the summer doldrums. Gold fell $4 on the day to $3,378 as it continues to consolidate just above its 50 day moving average. Silver remained flat on the day as well, just north of the $38 mark. The gold miners remain constructive with both the GDX and the GDXJ outperforming the metal. All eyes remain on the dollar, as we await some sort of dictionary outcome for the global currency. It continues to tetter day over day. In all likelihood, the markets are awaiting Jerome Powell’s comments from Jackson Hole later this week. Until then, we have more fed speak and sprinkles of economic data over the next few days.
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…Revival Gold.
Revival Gold is one of the largest pure gold mine developer operating in the United States. The Company is advancing the Mercur Gold Project in Utah and mine permitting preparations and ongoing exploration at the Beartrack-Arnett Gold Project located in Idaho. Revival Gold is listed on the TSX Venture Exchange under the ticker symbol “RVG” and trades on the OTCQX Market under the ticker symbol “RVLGF”. Learn more about the company at revival-dash-gold.com
And here’s what you need to know this morning…..
Magna Mining reported assay results from ongoing exploration work at the Levack Mine near Sudbury. This included initial assays from the near surface portion of the No. 1 nickel-copper zone which supports the Levack Mine Restart study. Results today were 2.3% Ni, .7% Cu and .3 g/t Pt+Pd+Au over 28m in hole 21. Hole 22 returned 2.4% Ni, .8% Cu and .3 g/t Pt+Pd+Au over 15.5m. There are currently two surface diamond drills operating at the Levack Mine, one completing near surface infill and metallurgical drillholes on the No. 1 and No. 2 and Main zones, and a second drill exploring the footwall environment between the No. 3 Ni-Cu Zone and the Morrison Cu-PGE deposit. (TSXV: NICU) (OTCQX: MGMNF) News Release
Brixton Metals reported further drill results from its near surface program at Camp Creek area. Hole THN25-325 returned 1.40m of 7.11 g/t gold, 262 g/t silver, 0.76% copper and 1840 g/t antimony from 114.10m depth. Hole THN25-325 returned 28.35m of 1.63 g/t gold, 76.79 g/t silver, 0.61% copper and 1002.41 g/t antimony from 158.65m depth. drilling was successful in extending gold-silver-copper-antimony mineralization in the Northside Vein to the northeast for an estimated total strike of 800m where it remains open. These 2 holes are the balance of early 2025 season drilling in the Camp Creek area for a total of 2165m over 12 holes. (TSX-V: BBB, OTCQB: BBBXF) News Release
Intrepid Metals shared results from holes drilled at the Holliday and Earp Zones as part of the ongoing 2025 drill program at the Company's Corral Copper Property in Cochise County, Arizona. Results were 42.50 m of 0.96% Cu, 0.28 gpt Au and 5.10 gpt Ag and 44.55 m of 0.74% Cu, 0.20 gpt Au and 35.00 gpt Ag. These holes fill in key gaps along the 3.5 km trend. The mineralization framework is interpreted as a distal porphyry copper geological environment. Recent geological mapping, sampling, prospecting and new drill hole data indicate that the Holliday, Earp and Ringo CRD/skarn zones are spatially separate expressions of magmatic-hydrothermal systems which each have root porphyry mineralization potential. (TSXV: INTR) (OTCQB: IMTCF) News Release
Orezone provided new drill results from its ongoing multi-year exploration campaign at its flagship Bomboré Gold Mine. The latest results are from the North and P8P9 zones, targeting the down plunge continuity of higher-grade sub-zones beneath the current life of mine pits. Selected highlights included 1.59g/t Au over 48.00m, 2.01g/t Au over 14.00m, and 1.82g/t Au over 6.40m. These latest drill results confirm the down plunge continuity of multiple higher-grade sub-zones, with mineralized traces extending beneath the current resource pits, and remaining open at depth. The targeted drilling at the North and P8P9 zones further underscores the near-term potential at Bomboré to selectively pull higher-grade reserve pits to depth across the greater 14km long reserve defined trend. (TSX: ORE | ASX: ORE | OTCQX: ORZCF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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