Morning Briefing: Scorpio Gold Drills 5.22 g/t Au over 36.82m at Manhattan
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It’s Tuesday, February 10th.
Metals are rallying a bit this morning. Gold is up over 1% to $5,100/oz while silver is up over 6% to $85.20/oz. The moves happened after yesterday’s weak US retail sales numbers and a White House which appeared to be on pre-damage control ahead of today’s jobs report. White House Counselor Peter Navarro warned the markets earlier this week to prepare for data showing lower than expected levels of jobs growth. Data from last week’s ETF reports showed $2.4B flowing into the iShares Silver Trust, making it the second-largest inflow winner of the week throughout ETF land. Despite the large number of inflow capital, SLV still has a year-to-date outflow of $1.3B.
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…..
Scorpio Gold announced results from three holes from last year’s Phase Two Manhattan District Project drill program. At the Reliance Trend, drilling returned 5.22 g/t Au over 36.82m, and included 19.86 g/t Au over 4.88m. At the Gape Zone, that hole returned .58 g/t over 16.15m. And at the East Pit Area, drilling hit .36 g/t Au over 32.16m and 9.03 g/t Au over 7m, which included a shorter 1.37m interval of 41.21 g/t Au. These holes were designed to add Inferred category resource blocks in areas where drill density was insufficient to categorize them as Inferred in the June 2025 estimate. The holes tested laterally and below the Inferred Resource Constraining Pit. (TSXV: SGN) (OTCQB: SRCRF) News Release
Snowline Gold reported new drill results this morning from geotechnical drilling. The highlight hole returned 347.6m of 1 g/t Au with the interval ending in mineralization outside of the current mine plan. Open edges of the system point to untested, prospective areas with the host intrusion for future drill testing. The Company also reports results from five regional drill targets on its Rogue Project and the discovery of a new mineralized target - Crossroads - on its Cynthia Project, where selective grab sampling returned values up to 14.1 g/t Au and 3,505 g/t Ag. Regional drilling and surface results are being used to guide targeting for Snowline's upcoming 2026 exploration program. (TSX:SGD) (OTCQB:SNWGF) News Release
G2 Goldfields continues to make new gold discoveries at the Oko Project. At Oko North, drilling hole 30 intercepted 66m of .9 g/t Au from a depth of 25.5m downhole. In addition, discrete higher-grade intercepts at surface have been identified, including 6m @ 4.1 g/t Au from trench ONCH 3 in an exposed quartz vein system at surface. Reconnaissance drilling at the Sand exploration area has also discovered a new, near surface gold occurrence, with results of 5m of 4.8 g/t Au and 24m of 2.5 g/t Au. (TSX: GTWO; OTCQX: GUYGF) News Release
Founders Metals announced drill results from the Upper Antino target at the Antino Gold Project in Suriname. Highlights include 6.0 metres (m) of 21.43 grams per tonne (g/t) gold (Au) from 49.0 m in hole FR183 and 10.0 m of 5.90 g/t Au from 394.0 m in hole FR175. The company says this geometry - multiple parallel, steeply-dipping mineralized structures - is consistent with significant Guiana Shield gold deposits such as Merian in Suriname, and Oko West in Guyana. (TSXV: FDR) (OTCQX: FDMIF) News Release
Alaska Silver is initiating a simplification of the Company's capital structure through the conversion of all issued and outstanding proportionate voting shares ("PV Shares") into subordinate voting shares of the Company ("SV Shares") on the basis of one hundred (100) SV Shares for every one PV Share. Based on this guidance, the Company historically elected to use the latter method to determine U.S. resident ownership of its voting equity securities and the Company's share structure and authorized capital was structured to, among other things, better maintain compliance of its foreign private issuer status. the board of directors has determined that it is no longer in the best interests of the Company to have the PV Shares be maintained as a separate class of shares of the Company, as the dual class structure no longer serves as a benefit to maintain foreign private issuer status. (TSXV: WAM) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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