Morning Briefing: New Drill Results from Marimaca and Talon

Good morning and welcome back to the Mining Stock Daily morning briefing.

It’s Wednesday, March 11th

The International Energy Agency is considering a release of emergency oil reserves that would be the largest-ever in its history, with a decision possible later on Wednesday, according to a person familiar with the matter. The proposal is in the range of about 300M to 400M barrels, the person said, dwarfing the 182M barrels member countries released in 2022, after Russia invaded Ukraine. The deliberations come as the UK Navy said three vessels were hit with suspected projectiles in the Strait of Hormuz and the Persian Gulf, underlining the ongoing threat to shipping from the conflict. Prices slid yesterday after Energy Secretary Chris Wright said in a since-deleted social media post that the US Navy was able to escort a tanker through the Strait of Hormuz. After the post appeared to be deleted, oil bounced back slightly off its lows, while stocks moved off their highs of the day. This morning, gold is down about 9/10ths while copper is down a full percentage point. 

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 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….. 

Marimaca Copper reported new drill results from the Pampa Medina deposit, located 28km east of the company’s Marimaca oxide deposit. Drilling intersected high-grade manto-type copper-silver mineralization in significant step-outs west from previous step-out drilling and demonstrates the western continuity of the favourable, mineralized sediment horizons. Results included 38m of 1.43% Cu and 11.8 g/t Ag in hole 1,  74m of 1.21% Cu and 7.9 g/t Ag  in hole 2 and 26m of 1.08% Cu and 13.8 g/t Ag in hole 34. The Company has not yet completed initial metallurgical programs at Pampa Medina and is therefore not reporting copper equivalent grades at this time. (TSX:MARI) News Release

Talon Metals reported new assay results and step-out drilling from the Vault Zone at the Tamarack Nickel-Copper-Cobalt Project in Minnesota. Step-out drilling continues to intercept massive and mixed massive sulphides, indicating that the system remains open and expandable. Results reported today included 15.23m of 14.11% NiEq starting at 773m, and 18.91m of 6.39% NiEq starting at 640m. Since the discovery of Vault, Talon has been stepping out around the system using BHEM to generate targets and precision drilling to test continuity and extensions. Talon's three in-house drill rigs are actively drilling the Vault Zone with the goal of continuing to expand mineralization. (TSX: TLO) (OTCID: TLOFF) News Release

Collective Mining announced the execution of a binding purchase agreement with several arms-length vendors for the Company to acquire the remaining surface rights needed for a future mining operation at the Guayabales Project in Colombia. Under the terms of the recently executed binding purchase agreements, Collective Mining will acquire land for a total purchase price of US$44.0 million, to be paid in installments over a 5-year period. With all the surface titles required for a future mine now either owned or under the purchase agreement, the Company plans to commence construction of an exploration adit in Q4 2026. The exploration adit, which will be used to support the Company's geological understanding of the Guayabales Project from underground, will initially be used to construct underground drill chambers to test the Trap System. (NYSE: CNL) (TSX: CNL) News Release

Great Pacific Gold provided a drilling update from the Kavasuki gold vein system on the Wild Dog Project in Papua New Guinea.  Two drill rigs are currently active at Wild Dog. Drilling continues at the Kavasuki epithermal gold vein system, while a second rig is conducting the first-ever drill test of the Kasie Ridge copper-gold target along the 15 km Wild Dog Structural Corridor. The company did published the first hole results of 58.9m of 2.5 g/t auEq last week. They say hole 3 was completed as well and intersected strong silica flooding and multi-phase quartz veining from approximately 5 m to 51 m downhole. Drilling has now progressed to KVH-04, which is being drilled from the same pad and designed to test beneath the KVH-03 intercept. (TSXV: GPAC) (OTCQX: GPGCF) News Release

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That’s it for today everyone. Have a great day. Stay safe. 

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