Morning Briefing: Sitka Gold to Spin-out Nevada and Arizona Assets
Good morning and welcome back to the Mining Stock Daily morning briefing.
It’s Thursday, March 12th
Yesterday, the International Energy Agency said it would release an unprecedented 400M barrels from emergency reserves to help calm the markets. US President Trump also said yesterday tha the US would release an additional 172M barrels from its Strategic Petroleum Reserve. Energy Secretary Chris Wright said those shipments could begin next week. Oil prices pared gains overnight after Brent crude briefly touched US$100 a barrel, as attacks were reported on three more cargo ships in the Persian Gulf and traders reacted to the IEA’s move to release government stockpiles. Three foreign ships were struck off the coast of Iraq and the United Arab Emirates overnight. Gold remains steady throughout the conflict, currently trading at $5,169/oz on the spot price. Silver is up just under 2% to 87.18/oz. Copper is somewhat glued to $5.80/lb range.
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…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…..
Sitka Gold announced it has initiated plans to spin-out its Alpha Gold Property in Nevada and it Burro Creek gold-silver property in Arizona into a new discovery-focused exploration company. The primary objective of the proposed Spin-Out is to allow Sitka Gold's management team to maintain a clear and singular focus on advancing its flagship RC Gold Project ("RC Gold") in Yukon, while establishing a separate, dedicated management team to unlock the value of the Company's Nevada and Arizona gold and silver assets. The Board believes that each asset group requires distinct technical, operational and strategic focus, and that separating them into two independent companies will enhance execution and allow for rapid advancement and value creation for shareholders by enabling each company to pursue its respective strategy with dedicated leadership, capital allocation and technical focus. (TSXV: SIG) (OTCQB: SITKF) News Release
Newcore Gold is expanding its drill program at the Enchi Gold Project to 60,000m with three active drill rigs on site. Approximately $10M have come into the company through the exercise of warrants recently, so the company has decided to put it towards the expanded program. In addition to drilling, development work in support of advancing the Enchi Gold Project continues with a Pre-Feasibility Study targeted for completion by the end of June 2026. Further work is underway to advance the technical merits of the Project, including metallurgical testwork, hydrogeological testing, geotechnical work, and environmental work. (TSX-V: NCAU, OTCQX: NCAUF) News Release
Alaska Silver will undergo a fully-funded intensive summer 2026 exploration program - including a minimum of 6000 m of diamond drill program for its Illinois Creek Silver-Gold-Lead-Zinc and Gallium project in Alaska. The Company will utilize two company-owned drill rigs, with simultaneous surface exploration and trenching. Activity should begin in early June. The 2026 drilling program will focus on multiple priority targets at the high-grade Waterpump Creek deposit and the newly discovered Silver Sage Zone, along with scout drilling of other high priority targets. (TSXV: WAM) (OTCQX: WAMFF) News Release
Summit Royalties has entered into an agreement to acquire a 1% net smelter return royalty on the Saddle North deposit owned by Newmont or consideration of C$5 million paid in shares of Summit. Newmont acquired Saddle North in 2021, prior to which Saddle North was owned by GT Gold Corp. The Saddle North Technical Report reported indicated resources containing approximately 3.47 Moz Au and 1.81 Blbs Cu and inferred resources containing approximately 5.46 Moz Au and 2.98 Blbs Copper. (TSXV: SUM, OTCQB: SUMMF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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