Morning Briefing: Review of the Eagle Mine Heap Leach Failure is Released
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It's Thursday, July 3rd
Yesterday’s ADP jobs report shows private-sector payrolls decreased by 33,000 last month after a gain of 29,000 the month prior. This morning’s non-farm payrolls came in better than expected. Gold is showing some weakness following the report, down $20 at time of recording, that about half a percent to $3,338/oz. Silver was having a strong morning prior to the report, but it is now off its highs and flat on the morning at $36.80/oz. After yesterday’s almost 2% move on copper, it is giving back some of its gains this morning, currently at $5.16 per 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…Revival Gold
Revival Gold is one of the largest pure gold mine developer operating in the United States. The Company is advancing the Mercur Gold Project in Utah and mine permitting preparations and ongoing exploration at the Beartrack-Arnett Gold Project located in Idaho. Revival Gold is listed on the TSX Venture Exchange under the ticker symbol “RVG” and trades on the OTCQX Market under the ticker symbol “RVLGF”. Learn more about the company at revival-gold.com
And here’s what you need to know this morning…..
Marimaca Copper says new drill results have extended the Pampa Medina Deposit in all directions. Drilling targeted extensions of the shallow oxide-chalcocite mineralization at Pampa Medina and intersected ultra high-grade, bornite-chalcopyrite, disseminated chalcopyrite and high-grade oxide mineralization, which is hosted in a regionally extensive system of interbedded sedimentary rocks hosting the Pampa Medina deposit. Results included 6m of 12% Cu within 26m of 4.1%, 40m of 2.1% Cu and 68m of 1.2% Cu. Pampa Medina’s location is expected to drive significant infrastructure and permitting benefits, including proximity to other mines and associated infrastructure. Pampa Medina is located at low altitude approximately 28km east of the Company’s Marimaca Oxide Deposit. (TSX:MARI, ASX:MC2) News Release
Ridgeline Minerals provided assay results and drilling updates for the maiden drill program on the Big Blue and Atlas projects. At Big Blue, the company completed three core holes for just over 2,000m. Hole 3 returned a half meter of .7% Cu, 3,194 g/t Ag and 2.6% W starting at 675m downhole. Mineralization was hosted at the strongly altered fault contact between the Ely formation carbonates and the Delker granodiorite. The results indicate a potential vector to the south towards the Skarn Hill mine. Over at Atlas, the company has completed two wide spaced core holes. The team intersected the anticipated section of Pennsylvania/Permian host rocks in both holes with the Ridgeline team observing weak to strong intervals of Carlin-Type alteration and oxide mineralization throughout the entire column of target host rock units down to depths of approximately 200m vertical. All samples have been submitted for assays with results pending. (TSXV: RDG) (OTCQB: RDGMF) News Release
Goldshore Resources announced the latest assay results from its 20,000m program and the final results from the QES Up Zone targeting the near surface extensions of the most northern QES shears at the Moss Gold Project in Ontario. Results from two drill holes, which infilled significant drilling gaps in the QES Zone, intersected multiple wide intervals of gold-mineralized shear zones. Results were 42.7m of 1.09 g/t Au and 46m of .6 g/t, both coming from hole 155. Hole 157 returned 31.9m of .95 g/t Au and 47.4m of .58 g/t Au. (TSXV: GSHR) (OTCQB: GSHRF) News Release
Ero Copper announced that the Tucumã Operation, located in Pará State, Brazil, achieved commercial production, effective July 1, 2025. During the month of June, following the completion of commissioning of the third filter press as well as modifications to the process plant, the operation achieved sustained throughput levels exceeding 75% of design capacity. Copper production at Tucumã totaled approximately 6,400 tonnes during the second quarter, including approximately 2,000 tonnes of copper produced during the second half of June. (TSX: ERO, NYSE: ERO) News Release
Pricewaterhouse Cooper has released the independent review board’s report on the heap leach failure at the Eagle Gold Mine in Yukon last summer. The report shows that variability of ore quality was mismanaged, leading to lower integrity of the pregnant leach solution system. The report also highlighted “adverse conditions” of the heap, which included low-permeability ore stacked in the 975 lift, a rising perched water table and increased irrigation of the benches on the south slope. So as the water table rose, the safety factor went down. Mines Minister John Streicker did say they are seeing encouraging signs of cyanide, mercury and other contaminant levels decreasing.
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That’s it for today everyone. Have a great day. Stay safe.
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