Morning Briefing: Sitka Gold Publishes Maiden Resource Estimate for Rhosgobel
Good morning and welcome back to the Mining Stock Daily morning briefing.
It’s Wednesday, February 25th.
It appears the rebound in the general stock market is keeping most traders distracted from the rebound in precious metals, which has formed over the past two weeks. After a bit of a down day yesterday, gold has breached $5,200 once again today while silver is back over $90/oz. Prior to last night’s state of the union address, the Trump administration announced a plan to use Pentagon-created artificial intelligence to set reference prices for critical minerals as it works to build a global metals trading zone. The prices will be set by the US Department of Defense’s Open Price Exploration for National Security AI metals program, or OPEN. the OPEN program was actually launched under Biden’s administration. The model is aimed at promoting supply deals between miners and manufacturers by giving both sides more pricing certainty.
We will get to the news out of the miners and explorers in a minute, but first a quick word about today’s sponsor.
This episode of Mining Stock Daily is brought to you by…Equinox Gold.
Equinox has recently completed the business combination with Calibre Mining to create an Americas-focused diversified gold producer with a portfolio of mines in five countries, anchored by two high-profile, long-life Canadian gold mines, Greenstone and Valentine. Learn more about the business and its operations at equinoxgold.com.
And here’s what you need to know this morning…..
Sitka Gold has announced their maiden resource estimate for its Rhosgobel gold Deposit on the RC Gold Project in Yukon. Those numbers now sit with a pit-constrained Inferred Mineral Resource of 2,250,000 ounces of gold (100.68 Mt @ 0.70 g/t Au) beginning at surface. This number add to the total RC Gold Project resource, which now sits at 1.28 Moz of indicated and 3.83Moz of inferred. Initial metallurgical testing of two composite samples gave gold recoveries of 89% and 96% indicating that the gold in the Rhosgobel deposit is not refractory. 60,000m of diamond drilling is planned for RC this year to focus on expanding the resources at the Blackjack, Eiger and Rhosgobel deposits and to follow up on other drill targets. (TSXV: SIG)(OTCQB: SITKF) News Release
American Eagle Gold reported what the company is calling a breakthrough drill results from the NAK Project in British Columbia. Hole 70 returned 901m of .43% CuEq from surface and included 521m of .58%. The hole intersected mineralization within rocks of the Babine porphyry stock which was previously interpreted to be barren. But with this hole, the NAK system has effectively quadrupled, according to the company. Confirmed mineralization now spans approximately 1.7 km east-west by 1.5 km north-south. Importantly, drilling has not yet defined a boundary to the mineralization, and the system remains open to the north, east, south, and to depth. American Eagle emphasizes that the South Zone represents the current centre of gravity for higher-grade mineralization, providing a focused and scalable pathway for near-term advancement. (TSXV: AE) (OTCQB: AMEGF) News Release
Omai Gold Mines provided assay results from six additional drill holes from the recent drill program at its 100% owned Omai Gold Project in Guyana, South America. Multiple zones of gold mineralization were intersected in each of these holes, most notably, central Wenot Hole 25ODD-119W intersected 4.18 g/t Au over 14.6m, 2.07 g/t Au over 27.4m, and 3.73 g/t Au over 17.3m. These new results will be included in the upcoming Mineral Resource Estimate. The company also noted that a 50,000m diamond drill program has commenced on the project. (TSXV: OMG) (OTCQB: OMGGF) News Release
Tocvan Ventures provided an update on its active exploration drilling program at the flagship Gran Pilar Gold-Silver Project in Sonora, Mexico. Drilling continues to advance efficiently in the South Block following the restart announced earlier this month. Six exploration holes have now been completed across four new high-priority target areas, testing previously un-drilled structural and geochemical corridors with strong potential for gold-silver mineralization. In parallel, the Company has completed a high-resolution drone magnetic survey over the principal target zones, delivering detailed geophysical data that is already being integrated with surface geochemistry and structural mapping to optimize follow-up drilling and trenching. (CSE:TOC) (OTCQB:TCVNF) News Release
Coppernico Metals has reported initial results from the recently completed gravity magnetic and high-res photogrammetry surveys covered the area between Antapampa and Tipicancha on its Sombrero Project in Peru. The company says the datasets materially enhance targeting confidence by filtering and focusing drill testing within the existing systems, positioning Coppernico to focus its next phase of drilling, planned for 2026 through 2027, and subject to additional financing, on the most prospective portions of multiple major skarn-porphyry areas. (TSX: COPR, OTCQB: CPPMF) News Release
Tudor Gold says it is preparing a preliminary economic assessment of its Treaty Creek Project’s Goldstrom Deposit. Fuse Advisors has been contracted for the development of the report and will initially contemplate an underground mine plan producing up to 10,000 tonnes per day using bulk-tonnage mining techniques with a target of defining mineralized material of approximately 50 million to 100 million tonnes grading in excess of 2.5 grams per tonne gold. Following development of a mine plan, Fuse will utilize the final estimated metallurgical recoveries from the metallurgical program currently under way to develop a flowsheet and economics for the project. The PEA is targeted for completion in the third quarter of this year. (TSXV: TUD) News Release
Mithril Silver and Gold provided an update on exploration activities for the Copalquin and La Dura properties, Durango State, Mexico. A LiDAR survey has been completed over the Company’s full 21km2 of mining concessions that cover the La Dura gold-silver district. The survey showed 18 historic mine shafts, 44 historic adits and 134 historic mine and prospecting pits. The LiDAR survey has provided high-resolution aerial photography and bare-earth digital terrain model (DTM) that virtually ‘strips away’ the vegetation, revealing amazing geology and structural detail beneath. (TSXV: MSG) (ASX: MTH) (OTCQB: MTIRF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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