Morning Briefing: New Drill Results from Lavras, Collective and Heliostar
Good morning and welcome back to the Mining Stock Daily morning briefing.
It’s Tuesday, February 24th.
Gold had a nice day yesterday, trading as high as $5,259/oz on its front month contract. That was a gain of about 3%. Silver outperformed with a gain of over 5% on the day yesterday, as it attempted to make its way to $90/oz before being sold down a bit. President Trump appears to be contemplating new national security tariffs on a half-dozen industries following last week’s Supreme Court decision that invalidated many of his previous policies. Copper continues to consolidate in its range around the $6 per pound mark. Its gaining today as Chinese traders are returning back to the market following the Lunar New year holiday. This is happening as stockpiles in both London and New York have been on the rise.
We will get to the news out of the miners and explorers in a minute, 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…..
Collective Mining announced assay results from a portion of a directional diamond drill hole designed to continue evaluating and expanding the Ramp Zone along strike and a depth within the Apollo system in Colombia. Hole 150-D1 has hit 54.55m of 7.04 g/t Au and 16 g/t Ag from 376.65m down deflection. Within this was 17.85m of 11.37 g/t Au and 22 g/t Ag and bottoming in high-grade with the final assay result received thus far from the lab averaging 1 metre @ 26.70 g/t gold and 67 g/t silver. Multiple instances of visible gold have been logged in select locations across the remaining 370.25 meters of core and await assay results, including near the bottom of the hole. If mineralized, this would position APC150-D1 as the deepest and northeasternmost intercept ever recorded at Ramp. (NYSE: CNL) (TSX: CNL) News Release
Heliostar Metals published additional results from the current drill program at its 100% owned Ana Paula project in Guerrero, Mexico. The program's primary aim is to convert inferred ounces to higher confidence classifications. It will also support the ongoing Feasibility Study and test the next set of exploration targets near the current Ana Paula deposit. Results today included 25.45m of 8.26 g/t Au from 493.8m in the expansion zone. IN the High Grade Panel, drilling returned 55.35m of 9.71 g/t Au, 23.4m of 8.39 g/t Au and 40.85m of 4.73 g/t. Heliostar has completed 72 holes and 23,979 metres drilled to date in the current program. (TSXV: HSTR) (OTCQX: HSTXF) News Release
Lavras Gold reported new drill results from its Caneleira Target, located 2 kilometers north of the flagship Butiá-Fazenda do Posto Gold Project in Brazil. Hole 25CN016 intercepted 21.66 grams per tonne gold over 15 metres from 131m, including 52.73 g/t Au over 6m from 135m and including 132.93 g/t over 2m from 139m. The Company will extend its drilling campaign in this area through step out drilling as structural alteration and grade trends emerge from current drilling; as well as testing coincident soil geochemistry and recessive topography anomalies, which are known to be important mineralization vectors that the Company has applied with success on other targets to date. (TSXV: LGC) (OTCQX: LGCFF) News Release
Q2 Metals has discovered a new high grade zone at the Cicsco Lithium Project. HOle 73 returned five separate intervals of spodemene pegmatite including 170.2m of 1.99% Li2O, 74.2m of .94%, 78.5m of 1.47% and 108.7m of 1.52% Li2O. The ongoing four-rig drill program is primarily focused on infill drilling the main mineralized zone to convert pending inferred resources to indicated in advance of a Preliminary Economic Assessment targeted for late 2026. Exploration and expansion drilling will also be incorporated into the drill program to test areas outside of the Mineralized Zone. (TSX.V: QTWO | OTCQB: QUEXF) News Release
Great Pacific Gold says a second diamond drill rig has arrived on site at its flagship Wild Dog Project in Papua New Guinea and has commenced drilling on the Kasie Ridge epithermal gold-copper target. Kasie Ridge represents the largest preserved advanced argillic alteration system identified to date on the Wild Dog Project. The prospect forms part of the broader Nengmutka hydrothermal system and lies northeast of the central Wild Dog corridor. (TSXV: GPAC) (OTCQX: GPGCF) News Release
Li-FT Power has neutered into a non-binding letter of intent with SOQUEM to acquire an additional 25% interest in the exploration rights on the Galinée property. This would bring Li-FT’s aggregate interest in the Galinée Property to a 75% interest with the remainder of the interest in the Galinée Property to remain held by SOQUEM. Consideration for SOQUEM’s 25% interest in the Galinée Property will consist of 1,000,000 common shares in the capital of the Company. (TSXV: LIFT) (OTCQX: LIFFF) News Release
Scorpio Gold says they have received aggregate proceeds of approximately $ 7,923,500 from the exercise of 39,617,500 common share purchase warrants.The exercised warrants were issued in connection with the Company's February 2024 financing and carried an exercise price of $0.20 per common share. (TSXV: SGN) (OTCQB: SRCRF) News Release
The Mining Stock Daily morning briefing is produced by Clear Commodity Network. It is distributed throughout the world through your podcast network of choice, and by our friends at the Junior Mining Network.
That’s it for today everyone. Have a great day. Stay safe.
The information presented should not be considered investment advice. Mining stock daily and its affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein. Please do your own research or speak with a licensed financial representative before making any investment decisions.