Morning Briefing: Scorpio Gold Sells Mineral Ridge for US$7.5M
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It's Thursday, July 24th.
Gold is getting monkey hammered lower this morning, down over $30 and currently trading at $3,366 an ounce. Silver is off its bottom this morning, now trading at $39.55/oz. Copper made a run at $6 a pound overnight but was denied entry. It is currently trading at $5.90 per pound in the US. There appears to be optimism for new trade deals before that August 1st deadline. The EU says they are moving toward an agreement with US President Trump which would impose a 15% tariff on EU goods entering the US, which would avoid the currently planned 30% tariff. Treasury Secretary Scott Bessent is scheduled to meet with Chinese officials later next week.
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…..
Talisker Resources has received assay results from underground face sampling of lateral development from the 1105 level at the Mustang Mine.Results included 551 g/t Au over .63m, 196 g/t over .44m and 92.7 g/t over .47m. Lateral development is mining conducted along the vein to allow for equipment access required for later stope extraction between levels. This development is conducted at approximately 3 X 3 metre dimensions, larger than the 1.8 metre width of the actual mining stopes. The 1105 level is located 1,105 metres above mean sea level and represents one of the upper most levels of the Mustang Mine. Talisker is actively milling run of mine gold bearing development material at Nicola Mining’s Merrit mill facility. (TSX: TSK, OTCQX: TSKFF) News Release
GFG Resources reported final assay results from the 12-hole Phase 1 program at the Aljo Gold Project located on the company’s Goldarm Property near Timmins, Ontario. Drilling successfully extended high-grade gold mineralization in the Hangingwall and Main Zones, confirmed broad mineralized envelopes in the Aljo West Zone, and led to the discovery of a new Footwall gold zone characterized by strong alteration, veining and visible gold. Results included 6.62 g/t Au over 11.2m. The new Footwall discovery hole assayed 7.26 g/t Au over .6m and 4.2 g/t over .7m. The strike length of Aljo now exceed 600m with continuity confirmed from surface to over 300m vertical depth across multiple zones. (TSXV: GFG | OTCQB: GFGSF) News Release
NexGold reported additional drill results from a recently-completed 26,854-metre diamond drill program at the Company’s Goldboro Open Pit Gold Project in Nova Scotia. The drill program is primarily designed to infill specific areas of the open pit Mineral Resource identified to improve geological and grade continuity and potentially upgrade certain areas of Inferred and Indicated Mineral Resources. Results reported today included 108.76 g/t Au over 1.4m, 67.23 g/t over 2.2m and 29 g/t over .5m. The Company has now released assay results for 111 drill holes (approximately 79%) from the infill program. Results from the drill program, to date, continue to demonstrate the presence of mineralization that is consistent with previous drill results in the proposed west and east pits. (TSXV: NEXG; OTCQX: NXGCF) News Release
Awalé Resources shared results from its 2,600-metre drill program at the Lando target, part of the broader Odienné copper-gold Project in Côte d'Ivoire. Diamond and initial RC drilling at Lando have confirmed continuous gold and copper mineralization across 2 km of strike, within a 4-km trend. Results included 10m of 1.3 g/t Au, 8m of 1.1 g/t, 29m of .4 g/t and 1m of 20.1 g/t Au. Follow-up diamond drilling is currently planned to commence in Q4 2025. (TSXV: ARIC) News Release
Brixton Metals says they have begun drilling at the newly identified Catalyst Copper-Gold Porphyry Target at its wholly owned Thorn Project located in NW British Columbia, Canada. The Catalyst Porphyry Target is located approximately 6 km northeast from the Camp Creek Porphyry system, within a NE-SW corridor hosting several underexplored porphyry-style prospects. A 2 km by up to 1 km copper-in-soil anomaly has been confirmed and refined. IP geophysical survey results reveal strong shallow conductivity and intense chargeability features at depth, closely aligning with expected porphyry-style alteration zones. Initial drilling will test depths to 500 meters. (TSX-V: BBB, OTCQB: BBBXF) News Release
Scorpio Gold has entered into a definitive agreement with an arm-length party for the sale of Mineral Ridge Gold, a wholly owned subsidiary of the company. The purchaser will acquire all membership interests in MRG, along with the related unpatented mining claims comprising MRG's Mineral Ridge project located in Esmeralda County, Nevada for a total of US$7.5M. The deal allows Scorpio to focus on its Manhattan District in Nevada. (TSXV: SGN) (OTCQB: SRCRF) News Release
Meridian Mining has entered into an agreement with Stifel, BMO and Beacon Securities to undergo a "best-efforts" private placement of up to 64,102,564 common shares of the Company for gross proceeds of up to C$50M. The Common Shares to be issued will be under the Listed Issuer Financing Exemption. The Company intends to use the net proceeds of the Offering to advance the definitive feasibility study for its Cabaçal Au-Cu project ("Cabaçal"), to continue to advance Santa Helena to an initial resource, to expand regional exploration programs on the wider Cabaçal VMS Belt and for general corporate and administration costs and general working capital. (TSX: MNO) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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