Morning Briefing: Onyx Gold Drills 208m of 2.3 g/t Au from the Argus North Zone
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m your host, Trevor Hall
It's Monday, November 17th.
After a pullback to $4,080 on Friday, gold is holding steady this Monday morning as the market awaits more economic data this week. We are finally going to see that September nonfarm payrolls report this week. That is due on Thursday and will have a big implication on the market’s expectations for a December rate cut from the Federal Reserve. Those odds continue to creep lower since the last meeting, now at a 45% chance according to the CME FedWatch. Silver futures retreated as well, on Friday, but is still hovering above the $50 level this morning. Copper is down a few pennies today, at $5.09 a pound.
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…..
Elemental Royalty announced that their wholly owned subsidiary, Bronco Creek Exploration, has executed four separate option agreements with Rocksteady Exploration, which is a subsidiary of Ivanhoe Electric, for the Dragon's Tail, Copper King, Sleeping Beauty-Jasper Canyon, and Lomitas Negras projects in Arizona. Ivanhoe Electric can earn 100% interest in the four Projects over an eight-year option period by providing: a) an execution payment totaling US$240,000, b) option payments totaling up to US$2,325,000, and c) cumulative exploration expenditures of up to US$10,800,000 over the eight-year term of the option agreements. Payments and exploration expenditures are made and required on a per-project basis and can be executed on a per-project basis. Ivanhoe Electric may also drop an option at any time without further payment. (TSXV: ELE) (OTCQX: ELEMF) News Release
Revival Gold reported new drill results from the Mercur Gold Project in Utah. Results included 1.4 g/t Au over 44.2m, 1 g/t Au over 24.4m and 1.7 g/t over 12.9m. The average mineralized intercept begins at 45 meters downhole, continuing to show the shallow nature of the deposit. Revival Gold has completed 100 holes and about 10,000 meters of this year’s planned 13,000-meter drilling program. Drilling continues with three rigs at Mercur and one at Beartrack-Arnett in Idaho. Additional results are pending. (TSXV: RVG, OTCQX: RVLGF) News Release
Onyx Gold reported reported another drill result from the Argus North Zone on the company’s Munro-Croesus Project near Timmins, Ontario. The latest results come from hole MC25-232, which was designed to test a newly defined northeast-trending structural corridor beneath the Argus North outcrop. This target emerged from detailed geological mapping and surface channel sampling that indicated a strong structural control on higher-grade gold distribution. That hole returned 208m of 2.3 g/t Au while extending the southern footprint of the zone by an additional 50m. The Company has completed 81 drill holes to date (assays announced for 37 holes) completing the previously announced 25,000 m Phase II drill program and announcing a fully-funded 50,000 m Phase III drill program utilizing three drill rigs. (TSXV: ONYX) (OTCQX: ONXGF) News Release
Galiano Gold shared new drilling results from the Asanko Gold Mine in Ghana. The drill results today continue to confirm multiple significant high-grade intercepts, demonstrating continuity of mineralization within new ore shoots identified in 2025 that lie below the existing Mineral Reserve and Mineral Resource. At the Main Pit, drilling returned 4.7 g/t Au over 28m. The South Pit returned intercepts of 3.5 g/t Au over 20 me and 3.6 g/t Au over 20m. The Saddle Zone had a returned assay of 2.2 g/t over 28m. Continued drilling success has prompted an expansion of the 2025 Abore drilling program by a further 11,000 meters. (TSX: GAU) (NYSE American: GAU) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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