Morning Briefing: Talisker Secures a Gold Purchase Agreement for Bralorne
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It's Wednesday, July 30th.
Gold saw a little bit of green yesterday as it closed its August contract before flipping over to the December contract. It closed yesterday at $3,324 an ounce, that was a gain of $14. The gold miners are attempting to climb their way out of a hole this week, using a subtle sign of life from the yellow metal yesterday as a reason to buy the GDX dip. Many of the junior explorers and developers on the MSD radar screen saw significant selling yesterday. Silver attempted to hold its ground yesterday, closing at $38.28 an ounce. Trade talks between US and China ended without any real agreement before that infamous tariff deadline this week. Investors now await the tea leaves from the FOMC meeting decision later today. The Federal Reserve is expected to leave interest rates unchanged, but the messaging from the board could provide some clarity for the rest of the year.
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…Vizsla Silver.
Vizsla Silver is focused on becoming one of the world’s largest single-asset silver producers through the exploration and development of the 100% owned Panuco-Copala silver-gold district in Sinaloa, Mexico. The company consolidated this historic district in 2019 and has now completed over 375,000 meters of drilling. The company has the world's largest, undeveloped high-grade silver resource. Learn more at https://vizslasilvercorp.com/
And here’s what you need to know this morning…..
American Pacific Mining reported results from six reverse circulation drill holes completed on its phase 1 drilling campaign at the Madison Project. APMAD25-08 intersected three different mineralized zones, with the upper zone returning 44.1 g/t Au over 1.5 m within a broader interval averaging 10.2 g/t Au over 7.6 m, starting from 189.2 m downhole. The second zone returned 4.5 g/t Au and 0.2%Cu over 3.0 m, starting from 230.1 m downhole. That was a 175m step-out to the northwest of the historical Broadway Mine area. APMMAD25-05 extended the copper mineralized envelope down plunge towards the common vector between the Broadway and Madison mines, with 0.5% Cu over 27.4 m and 0.7 g/t Au. A second phase of drilling is set to commence this year. (CSE: USGD) (OTCQX: USGDF) News Release
NexGold provided additional drill results from a recently-completed 26,854-metre diamond drill program at the Company’s Goldboro Open Pit Gold Project. 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. Highlights from today’s results included 40.09 g/t gold over 17.7m which included 1,010.00 g/t gold over 0.5 metres in hole, and 6.75 g/t gold over 18.0 metres including 94.2 g/t gold over 0.5 metres. Both those intercepts came from the same hole. Throughout the drill program, additional gold mineralization was intersected in areas where mineralization was previously unknown or predicted. (TSXV: NEXG; OTCQX: NXGCF) News Release
ATEX Resources published results for 3 drill holes from its Phase V drill program at the Valeriano Copper-Gold Project in the Atacama Region of Chile. Today results included 138m of .75% CuEq, 458m of .65% CuEq and 516m of .79% CuEq. The company says the strategic goals of this phase of drilling were met, which included delineating the high-grade B2B breccia zone located atop the Valeriano Porphyry, extending the high-grade porphyry trend which remains open; and testing he broader porphyry footprint through infill and step-out drilling with limits still unknown. ATEX plans to begin its Phase VI drill program as early as September with more details to be provided closer to program commencement. (TSXV: ATX) News Release
Talisker Resources has entered into three definitive agreements with Ocean Partners for the purchase of gravity gold and sulphide concentrate from the Mustang Mine, marking a further milestone in the Company’s transition to production at its Bralorne Gold Project in British Columbia. The three agreements include two separate purchase agreements, one for gravity gold concentrate and one for sulphide concentrate, and a logistics agreement appointing Ocean Partners as Bralorne’s exclusive logistics agent to manage the end-to-end transportation of both gravity and sulphide concentrates from the mill site to international buyers. Under the gravity gold and sulphide concentrate purchase agreements, Ocean Partners has agreed to purchase 100% of the gravity gold and sulphide concentrates produced pursuant to Bralorne’s existing milling agreement. (TSX: TSK, OTCQX: TSKFF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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