Morning Briefing: Regulus Resources Show Encouraging Phase Two Nuton Recoveries
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It's Tuesday, May 20th.
Moody’s cut the US rating from AAA to AA1 on Friday, citing rising debt and interest that are significantly higher than similarly rated sovereigns. Gold moved up about 1.5% yesterday after the weekend news and closed at 3,233 per ounce. Silver continues to hand out and consolidate around the $32 and a half range, which could be a beginning of a very powerful move upwards if and when it finally breaks out. Copper also continues to trade in a tight range around $4.60/lb. Several Federal Reserve officials are set to speak later today. Attention now turns to peace talks between Russia and Ukraine. It has been mentioned that those discussions will happen immediately without US involvement.
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…..
Regulus Resources provided an update on its Phase Two met test program with Nuton today. The company says the results are very encouraging, as Nuton was able to achieve attractive copper extractions utilizing its Nuton bio-leaching technology on both styles of mineralization. As well, this test work has refined the understanding of which set of conditions produces attractive copper extractions for enargite-rich high-sulphidation mineralization. To date, the highest copper extraction for enargite-rich high-sulphidation mineralization is 88.3%. To date, the highest copper extraction for porphyry-hosted chalcopyrite mineralization is 87.9%. Four additional columns have since been started to further refine the optimal conditions achieved. (TSX-V: REG, OTCQX: RGLSF) News Release
Newcore Gold released additional drill results from its Boin Gold Deposit at the Enchi Gold project in Ghana. Highlights included hole KBRC357 which intersected 4.41 grams per tonne gold ("g/t Au") over 24.0 metres ("m") from 126 m, including a higher-grade interval of 9.08 g/t Au over 10.0 m from 132 m. Hole KBRC360 intersected 1.58 g/t Au over 52.0 m from 75 m, including a higher-grade interval of 3.04 g/t Au over 16.0 m from 96 m. A 35,000-metre drill program is underway at Enchi, targeting near-surface oxide and shallow sulphide mineralization with a primary goal of infill drilling for resource conversion to improve the confidence level of the existing Mineral Resource Estimate. (TSX-V: NCAU, OTCQX: NCAUF) News Release
Revival Gold announced the start of this year’s field work in both Utah and Idaho. At the Mercur Gold Project, the company will complete a soil sampling program to begin resource conversion and expansion drilling. Revival Gold’s technical team has completed collar design and site scouting for a proposed program encompassing approximately 13,000 meters of RC and core drilling in 2025. Permit applications have been submitted to the Utah Division of Oil, Gas and Mining for the South, Main, and Rover areas. Approvals are expected this summer for an initial phase of drilling designed to support metallurgical testing, resource conversion, and resource expansion drilling. At Beartrack-Arnett, the company is also preparing for a new exploration drill program focused on the Joss area of the project. Additional baseline study work for the first phase heap leach project at Beartrack-Arnett is expected to proceed as funding allows. (TSXV: RVG, OTCQX: RVLGF) News Release
Elemental Altus Royalties provided operating and financial results for the first quarter of the year. The company reported royalty revenue of $11.6M and adjusted revenue of $13.3M, up 179% from Q1 last year. Adjusted EBITDA reached $11.5M, up 259% from same time last year. The company paid down the final $3M on the company’s revolving credit facility. Elemental has have $22M of cash on hand today. (TSXV: ELE) (OTCQX: ELEMF) News Release
Canterra Metals reported the results from its first drill hole out of this year’s 10,000m program at the Buchans Project in Newfoundland. Drill hole H-25-3539 targeting the Two Level Horizon beyond the high-grade mineralization intersected in 2024. The hole returned 6.77% CuEq over 5.35m and included 8.88% over 2m in there. The hole also had another intersection of 1.07% CuEq over 18m. The first mineralized interval expands the High Grade Two Level Horizon which remains open in multiple directions. The second mineralized interval extends stockwork mineralization below the extent of the current pit shell. (TSXV: CTM) (OTCQB: CTMCF) News Release
Perpetua Resources says the United States Army Corps of Engineers has issued Perpetua's Clean Water Act Section 404 permit for the Stibnite Gold Project. This decision comes after eight years of rigorous interagency federal permitting, and was the last federal permit required to progress towards construction. With receipt of this permit, Perpetua Resources is focused on finalizing the remaining state permits and securing project financing needed to begin construction. (Nasdaq: PPTA) (TSX: PPTA) News Release
Snowline Gold says it has commenced its 2025 exploration, drilling and project advancement campaign on its flagship Rogue Project and surrounding exploration projects in Canada's Yukon Territory. The primary objective of the campaign will be efficient, rapid advancement of the Rogue Project's Valley gold deposit to inform potential future technical and economic studies and project permitting. This work includes 5,000 m of geotechnical and condemnation drilling, engineering studies, and expanded environmental monitoring. Complementing this is 25,000+ m exploration drilling at the Valley deposit and on multiple regional gold targets on the Rogue, Cynthia and Einarson gold projects. (TSX-V:SGD) (OTCQB:SNWGF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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