Morning Briefing: Maple Gold Mines reports assay results from the Douay Gold Project in Québec.
Back again, It’s Ian Wagner. Good morning and welcome to the Mining Stock Daily Morning Briefing - tariff edition. Pretty hard to lead off with anything else after a day like yesterday.
It's Thursday, April 3rd.
Gold - and everything else - nosedived after President Trump’s announcement that massive tariffs would be coming to nearly every trading partner the U-S has. After initially spiking as high as 3200, gold futures dropped nearly 90 points overnight. Currently trading around 3115, gold is still higher than a week ago.
Silver’s move was even more dramatic. After an initial jump to 35, silver traded below 33 overnight. It settled yesterday at 34.65, so quite the massive selloff. In early trading this morning, silver is right around 32.
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…Integra Resources
Integra is a growing precious metals producer in the Great Basin of the Western United States. Integra is focused on demonstrating profitability and operational excellence at its principal operating asset, the Florida Canyon Mine, located in Nevada. In addition, Integra is committed to advancing its flagship development-stage heap leach projects: the past producing DeLamar Project located in southwestern Idaho, and the Nevada North Project located in western Nevada. Learn more about the business and their high industry standards over at integraresources.com
And here’s what you need to know this morning…..
Rua Gold announced the commencement of drilling at the Cumberland gold camp drill target. This builds upon the integration of the VRIFY AI targeting and ranking process with RUA's extensive geological database, as well as the consolidation of the Reefton Goldfield - an orogenic gold and antimony belt on the South Island of New Zealand. The geological team have defined an initial drill program for 6 holes of depths ranging from 70m to 150m to be drilled from the first pad to define the structure of the Gallant lode. Targets are following up on high grade historical intercepts that are at very shallow depths ranging from 30m to 60m. Subsequent drilling will then systematically test the remainder of the Cumberland gold camp targeting the 7 historic mines in a 2.2km long north-northwest trending zone of quartz veins and shearing. The company notes that the Cumberland structural zone has emerged as a standout target from the early stages of the Company application of the VRIFY AI tool. Rua trades on the (TSXV: RUA) (OTCQB: NZAUF) (WKN: A40QYC) - News Release
Maple Gold Mines reported initial assay results from the first five drill holes completed during the 10,000-metre winter drill campaign at its 100%-owned Douay Gold Project in Québec. In the Nika Zone, drill hole 25-338 intersected 2.05 grams per tonne gold over 108.6m (from 537.4 m downhole), including 3.05 g/t Au over 55.8 m. In the Porphyry East Zone, drill hole 25-334 intersected 15.50 g/t Au over 1.0 m, drill hole 25-335 intersected 3.15 g/t Au over 9.0 m, and drill hole 25-336 intersected 0.98 g/t Au over 35.0 m.
The company notes that Hole 25-338 is a significant 300m down-plunge step-out from the nearest drilling in the Nika Zone and is located well below the defined mineralization and conceptual pit shell in the current Douay mineral resource estimate). These drill results define a new high-grade, bulk tonnage target that is open at depth and along strike. The Company is planning immediate follow-up drill holes during this Program. Maple Gold trades on the (TSXV: MGM) (OTCQB: MGMLF) - News Release
West Point Gold announced the most recent drill results from its ongoing drill program at the Tyro Main Zone of the Gold Chain Project in Arizona. The company assayed three reverse circulation drill holes, with highlights including:
Hole 37 intersected 41m of 0.8 g/t gold
Hole 41 intersected 10m of 1.86 g/t gold
Hole 41 also intersected mineralization in a separate zone higher in the system, returning 22.8m of 1.4 g/t gold
Results continue to suggest that mineralization is much broader than initially thought. Tyro Main Zone is open at depth, northeast towards Frisco Graben, and southwest.
Assays are pending for an additional 11 completed drill holes and the drill program is ongoing.
West Point trades on the TSXV: WPG & OTCQB: WPGCF - News Release
GFG Resources announced a private placement of premium flow-through units to raise gross proceeds of up to C$2.5 million. As part of the Offering, the Company is pleased to announce that Alamos Gold has committed to purchase securities in the Offering to maintain their position at a 10.8% interest in the Company upon completion of the Offering. GFG TSXV: GFG & OTCQB: GFGSF - News Release
Los Andes Copper is pleased to announce that the Company has expanded its land package by obtaining first-priority exploration claims over new areas within and adjacent to the current property boundaries for Los Andes' Vizcachitas copper project in Chile). The claims cover an 18 square kilometer block within the current property boundary, and another 7km2 block adjacent to the north-east corner of the property boundary. The 18km2 block within the current property boundary covers the higher ground bordering the Vizcachitas deposit to the southeast, near the mineralized extensions identified in the 2023 drill program.
Los Andes trades on the TSXV: LA & OTCQX: LSANF - News Release
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That’s it for today everyone. Have a great day. Stay safe.
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