Morning Briefing: NexMetals Release Assay Results from Expansion Holes
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It's Monday, June 30th.
Gold remains in correction territory as the price attempts to stabilize this morning after another day down on Friday. The yellow metal was down 1.8% on Friday to close the week at $3,287 an ounce. Overnight, gold headed lower but was quickly bought up and is currently finding itself up marginally at time of recording. Silver opened its Friday but found itself with a $.50 haircut, closing at $36.37 an ounce. Silver continues to trade mostly in a sideways range north of $36 an ounce. President Trump’s tax bill passed important approvals over the weekend as the Senate narrowly voted in favor of an open debate on the bill, but the Senates version of the bill has a few differences than the congressional version originally sent their way. For instance, the Senate’s version of the bill would raise the US debt limit by $5T, 20% higher than the House proposal.
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…..
Arizona Metals announced the initial mineral resource for the Kay Mine in Arizona. The underground MRE includes 9.28 million tonnes grading 1.39 g/t Au, 27.6 g/t Ag, 0.97% Cu, 0.33% Pb, and 2.39% Zn in the Indicated category, and 0.86 million tonnes grading 1.06 g/t Au, 15.4 g/t Ag, 0.87% Cu, 0.20% Pb, and 1.68% Zn in the Inferred category, at a base-case cut-off grade of 1.00 % CuEq. The deposit remains open for expansion beyond this initial MRE both along strike and at depth. Following the completion of additional metallurgical testwork, a preliminary economic assessment ("PEA") is planned for release in the second half of 2025. (TSX: AMC) (OTCQX: AZMCF) News Release
Signature Resources published its initial mineral resource estimate for the Lingman Lake gold Deposit in Ontario. The MRE consists of an Indicated resource of 2.15 million tonnes with an average grade of 1.38 grams-per-tonne gold ("g/t Au") for an estimated 95,200 ounce of gold ("oz Au"), plus an inferred resource of 18.4 million tonnes with an average grade of 1.14 g/t Au totaling 674,320 oz Au. Structures hosting the mineralization remain open to further drilling both east, west and at depth. Modeling indicated the potential for a further mineralization outside the pit shell that could be brought in with additional drilling and an extension of the conceptual pit shell during a future mineral resource update. (TSXV: SGU) (OTCQB: SGGTF) News Release
NexMetals reported assay results from its first two resource expansion holes of the year this morning out of the Selebi North Underground. Results included 13.5m of 3.68% CuEq 183m down plunge of the 2024 resource estimate on the South Limb and 5.95m of 4.14% CuEq on theN2 limb and 65m down dip of the resource estimate. A Borehole Electromagnetic survey completed in SNUG-25-184 revealed strong off-hole conductors, confirming the South Limb and N2 zones remain open down-plunge. A new drill hole is currently in progress to step out and test the strike extent of the mineralization. (TSXV: NEXM) (OTC Pink: PRMLD) News Release
Zodiac Gold shared additional results from its ongoing Phase Three drilling program at the Arthington target, part of its flagship Todi Gold Project in Liberia. Results today included 12m of 3.31 g/t Au, 20.55m of 1.17 gT Au and 17.5m of .97 g/t Au. The latest results continue to support the presence of a mineralized system at Arthington, including within a +300-meter-long corridor between artisanal workings, an area that had seen limited drilling in Phase One and Two. (TSXV: ZAU) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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