Morning Briefing: Meridian Mining Results from Santa Helena and Magna Mining Results from McCreedy West
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It's Tuesday, June 10th.
Gold saw a bit of a bounce yesterday in intraday trading and some followup early this morning as the dollar continues to consolidate around the $100 level on the DXY. The yellow metal is currently trading at $3,355 per ounce, about where it closed its day yesterday. Silver was up another 1.8% yesterday to $36.79 per ounce and is up a bit marginally yet again today. Copper was up one and a half percent yesterday closing at $4.93 per pound, where some stiff resistance persists.
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…..
Meridian Mining is back in the news this morning with new drill results from the Santa Helena gold-copper-silver and zinc project in Brazil. Drilling is being conducted to increase confidence in the Au-Cu-Ag & Zn mineralization's geometry and grade continuity characteristics, particularly related to historical datasets where holes were not fully sampled. Results today include 11.6m of 5.9 g/t AuEq, 17.6m of 3.6 g/t AuEq and 7m of 5.2 g/t AuEq. Resource definition will be ongoing through the second half of the year. Meridian also provided an update on exploration work at Santa Fe. The Company has mobilized a rig to start shallow reconnaissance drilling in order to characterize bedrock associated with chargeability anomalies, with results pending. (TSX:MNO)(OTCQX:MRRDF) News Release
Magna Mining announced additional drill results from the McCreedy West mine, including 3.0% Cu, 0.4% Ni, 9.1 g/t Pt + Pd + Au over 10.8 metres and 3.9% Cu, 0.6% Ni, 6.8 g/t Pt + Pd + Au over 2.1 metres in drillhole FNX33368. Other results included 5.1% Cu, 1.0% Ni, 1.8 g/t Pt + Pd + Au over 6.6 m and 2.0% Cu, 0.2% Ni, 2.6 g/t Pt + Pd + Au over 20.0 metres. Production drilling at the McCreedy West Mine is ongoing with two underground diamond drills working in the 700 Cu-PGE Footwall Zone. Drilling is currently focused on supporting the mid-term production planning and better definition and grade confidence for stopes in the 2025 mine plan. (TSXV: NICU) (OTCQX: MGMNF) News Release
Northern Superior Resources announced additional results from its 20,000-metre expansion drilling campaign at the Philibert gold property in Quebec. Results included 4.82 g/t Au over 21.6m located beneath and south of current resource and 200 metres along strike from new discovery in hole PB-25-484. Hole 501 returned just over 2 g/t Au over 22.2m. These results, along with PB-25-484, now define a new high-grade zone over a 200-metre strike length and more than 150 metres of vertical extent. (TSXV:SUP) (OTCQX:NSUPF) News Release
Kodiak Copper reported positive met test results conducted on samples from the Company's 100%-owned MPD copper-gold project in southern British Columbia. Flotation testing confirmed that a high-grade copper concentrate exceeding 26% copper can be produced from the MPD mineralization. General recovered were up to 89.9% copper, 74.1% gold, and 76.0% silver. (TSXV: KDK) (OTCQB: KDKCF) News Release
Collective Mining has appointed Mr. Raphael Maracajá as Vice President Mining, effective immediately. Mr. Maracajá is a senior mining professional with 20 years of international experience in both open pit and underground operations. He has held leadership roles in operations and technical services at companies such as Hudbay Minerals, Equinox Gold, Appian Capital and Yamana Gold. (NYSE: CNL) (TSX: CNL) News Release
Arras Minerals provided a corporate update this morning. The company says they are mobilizing a second drill rig to its Phase 2 drill program at the Elemes Project. The drill rig is expected to arrive and commence activity later this month. This follows the successful completion of both a ground magnetic survey and a vector-induced polarization (IP) survey over the Berezski and Aimandai targets. On another note, Arras has elected not to proceed with the US$15 million option payment to Copperbelt AG for the acquisition of the Beskauga Project and has formally terminated the option agreement. Attempts to secure a partnership agreement with a third party, as well as parallel discussions with Copperbelt AG to explore alternative arrangements, did not result in a viable path forward. (TSXV:ARK) (OTCQB:ARRKF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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