Jordan Roy-Byrne, Founder of The Daily Gold joins me to address the the recent moves in silver just this week. With silver finally outperforming gold and closing in the 52 week highs this is another sign of bull market for the metals. The most important comments deal with how to trade this market if you have some cash ready to deploy.
Crystal Lake Mining Corporation [TSXV: CLM OTC: SIOCF FSE: SOG-FF] is pleased to announce that its ongoing Phase 1 exploration program has greatly expanded the target area at Burgundy Ridge, the newest drilling discovery in Northwest B.C.’s prolific Eskay Camp based on four shallow first-ever drill holes (reverse circulation) during winter conditions last fall (see March 7, 2019 news release).
Crews will be mobilizing for the maiden diamond drilling program at Burgundy Ridge during the week of July 22 to aggressively broaden this discovery (high-grade copper plus gold, silver, cobalt and zinc) laterally and at depth.
- Mapping, prospecting, sampling and hyperspectral analysis have delineated a large 2 km x 2.5 km porphyry and skarn-style system open in multiple directions;
- The Burgundy Ridge system features multiple “hot spots” including a significant new surface discovery 600 metres west-southwest of October’s copper-gold-rich intersections – a k-spar epidote altered and brecciated intrusion containing disseminated copper sulphides in a high temperature alteration zone;
- High-grade mineralization at Burgundy Ridge occurs within breccias and intrusive dykes that are structurally controlled along the margin of a large dolomitic limestone body which has been intruded by a variety of porphyries (a 3-metre chip sample by Romios Gold in 2013, which should not be considered representative of mineralization in the target area, returned 5.1% Cu, 28.5 g/t Au and 89.7 g/t Ag).
Dr. Peter Lightfoot, Crystal Lake Technical Advisor, commented: “The data increasingly suggest that there is large-scale development at Burgundy Ridge of alkaline porphyritic stockwork vein systems with breccias. These are very messy alkalic porphyries – exactly the right type of rocks – and they are associated with carbonate-bearing country rocks.
“Tight correlations between copper and silver, copper and gold, and copper and cobalt are indicative of significant and coherent underlying mineralization processes at Burgundy Ridge, driven in part by an impressive fluid highway,” Dr. Lightfoot concluded.
Newmont Lake Project General Update
Crystal Lake will commence its 2019 drilling at the Burgundy Ridge discovery while highly prospective targets elsewhere throughout the 550 sq. km (55,000 hectare) project, including the newly-defined Chachi Corridor, continue to be systematically explored and advanced with details expected shortly as more data becomes available.
- To date, within the last six weeks, over 4,000 rock and soil samples have been collected throughout the project and have been shipped for assay (includes an intensive chip sampling campaign for hyperspectral vectoring);
- Lithological and alteration mapping on the highest priority prospects has been carried out by 35-year Golden Triangle veteran Marco Vanwermeskerken who mapped the Eskay Creek deposit pre-to-post discovery;
- A broad scale geophysics program, including both ground and airborne methods, will soon be launched by Wolcott & Associates Geophysical Services.
Richard Savage, President and CEO of Crystal Lake, stated: “We are ready to leverage the hard work and expertise of our discovery-driven teams who have done a remarkable job to position shareholders for a summer to remember in the Eskay Camp. We’ve got the right people in the right area at the right time – drilling starts with bullseye targets at Burgundy Ridge to immediately expand the district’s newest discovery.”
The technical information in this news release has been reviewed and approved by Mr. Maurizio Napoli, P. Geo., VP Exploration for Crystal Lake Mining, a Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Crystal Lake Mining
Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through high-grade discovery opportunities in British Columbia and Ontario. The Company has an option to earn a 100% interest in the Newmont Lake Project, one of the largest land packages among juniors in the broader Eskay region in the heart of Northwest B.C.’s Golden Triangle.
On Behalf of the Board of Directors,
CRYSTAL LAKE MINING CORP.
President & CEO
For further information please contact:
Tel: +1 (604) 261-4466
Toll Free: +1 (877) 261-4466
Momentum Public Relations
Tel: +1 (514) 815-7473
This news release may contain certain “forward looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
David Erfle, Founder of The Junior Miner Junky joined me to take a look at the run silver started yesterday. With gold flat to slightly down and the USD up, silver is moving higher – confirming the gold bull market. David also shares some of the silver stocks that he likes best.
Brixton Metals Corp. [BBB-TSXV; BXTMF-OTC] share rallied in heavy trading Monday July 15, 2019, after the company released impressive assay results from its Thorn Project gold-copper-silver project in northwestern British Columbia’s Golden Triangle area.
Investors were reacting to results from drill hole THN19-150, which returned 554.70 metres of 1.97 g/t gold equivalent, including 135.96 met
res of 1.35 g/t gold, 0.31% copper, 133.62 g/t silver or 5.00 g/t gold equivalent, including 6.0 metres of 3.56% copper, 3.37 g/t gold, 257.77 g/t silver.
Among the highlights were high-grade copper dominated intervals of 6.0 metres of 3.56% copper, 3.37 g/t gold, 257.77 g/t silver from 155 metres in depth and 16 metres of 1.38% copper from 414.35 metres depth.
The share price jumped 65.4% or $0.085 to 21 cents on volume of 9,255,200 shares traded, making Brixton the most actively traded stock on the TSX Venture Exchange on Monday.
The shares trade in a 52-week range of 10 cents and 24 cents.
Brixton is a precious metal exploration and development company with a focus on advancing its wholly-owned projects towards mine development. Its shareholder group includes Bay Street financier Rob McEwen, Pan American Silver Corp. [PAAS-TSX, NASDAQ], and Hecla Mining [HL-NYSE].
The company wholly-owns four exploration projects, including Thorn and the Atlin Goldfields projects in northwestern B.C., the Langis-Hudson Bay silver-cobalt project in Ontario and the Hog Heaven silver-gold-copper project in Montana.
The Thorn Project is a 996 km2 claim group located approximately 90 km from Juneau, Alaska, and 65 km from tide water.
It hosts a district scale Triassic to Eocene volcanic-plutonic complex with many styles of mineralization related to porphyry and epithermal environments. The three main targets include the Chivas Zone, which is an important new, large scale, yet to be drilled porphyry target; and the Outlaw Zone, which is a large scale clastic sediment hosted gold-silver target where hole 128 returned 60 metres of 1.15 g/t gold and 5 g/t silver.
The Camp Creek porphyry target includes the Oban, Talisker, and Glenfiddich zones. Brixton said hole THN19-150 was drilled to 829.06 metres depth at the Oban diatreme breccia pipe within the Camp Creek Corridor.
“Structural mapping and soil-rock geochemistry at the Chivas Zone and re-logging of select core from the Glenfiddich Zone were also conducted,” the company said in a press release, Monday.
The objective of the program was to test for porphyry mineralization at depth at the Oban Zone and to refine the two porphyry targets, Chivas and Camp Creek, for the next round of drilling.
Meanwhile, the company said it has extended the Oban Zone polymetallic mineralization to a depth of 651 metres from the previously drilled vertical depth of 370 metres for an increase of 281 metres of new mineralization.
“The mineralized system at Thorne is huge; we need more drilling to prove up these zones,” said Brixton Chairman and CEO Gary Thompson. “Just to put this in perspective, there are three multi-kilometre targets on the property; the Chivas porphyry, the Camp Creek porphyry and the Outlaw sediment-host gold target which are about 4.0 km away from one another.”
All reported assays are uncut weighted averages and represent drilled core lengths.
The Thorn Project is within the traditional territory of the Taku River Tlingit First Nation (TRTFN). The company signed an exploration deal with the TRTFN in 2013.
With silver continuing to lag the move higher in gold there is reason to expect silver to finally start to ride the wave higher. David Erfle joins me to look back to the early 2000s and outline when silver got moving after gold started to run. We also discuss what he is looking for in silver stocks which should provide much more leverage to the price.
Chris Vermeulen, Founder of The Technical Traders joins me to share his thoughts on the US markets, gold and silver. With the S&P around the 3,000 level Chris sees a general pullback coming. As for gold he is optimistic but also outlines some of the recent trading and levels that could hold the next pop back for a short period of time.
Great Panther Mining Ltd. [GPR-TSX; GPL-NYSE American] said Monday July 8 that it has approved a positive production decision for its 100%-owned Coricancha gold-silver-zinc-copper mine in Peru.
The company said the decision was based upon the final results of the trial stope and bulk sample program (BSP) which confirmed the key operating assumptions for Coricancha contained in a Preliminary Economic Assessment that was announced in May 2018.
“We are pleased with the results of the BSP and look forward to advancing Coricancha towards commercial production,” said Great Panther President and CEO James Bannantine. “The actual restart date is expected in the first half of 2020 and will be aligned with our other mining operations to ensure the project has the necessary planning and resources in place to optimize operations and profitability.”
“Coricancha is expected to produce approximately 40,000 ounces of gold equivalent annually and will be an important addition to Great Panther’s production portfolio going forward, Bannantine said.
Great Panther shares advanced on the news, rising 0.97% or $0.01 to $1.04. The shares are trading in a 52-week range of 70 cents and $1.58.
Great Panther is a low-cost producer with a very strong leverage to the price of silver. Already holding two mines in Mexico, the company has successfully expanded into Peru and Brazil.
The company said its primary focus for 2019 will be on the integration and optimization of the recently acquired Tucano Gold Mine in Brazil.
The company plans to produce up to 200,000 ounces of gold equivalent this year.
Coricancha is located 90 km east of Lima, Peru and was acquired by Great Panther in June 2017.
The mine has a 600 tonne-per-day processing plant and is fully permitted for production. However, production was suspended by a previous operator in 2013.
According to the 2018 PEA, the average annual production at Coricancha is estimated at 3.1 million silver-equivalent ounces or 149,000 gold equivalent ounces over the life of the mine. All-in-sustaining cost is estimated to be US$2.20 per payable silver ounce or US$547 per payable gold ounce over the life of the mine.
The PEA contemplates the use of standard cut-and-fill mining techniques, providing ore to support a target annual throughput rate of 550 tonnes per day to the mill. Saleable products include lead, zinc, and copper concentrates, as well as gold-silver doré.
Given that there is a processing plant in place, existing infrastructure, and a history of recent production up to 2013, total capital costs are relatively small. Initial capital expenditures of $8.8 million, consisting of an internal ramp and ore pass system required to upgrade and improve the materials handling.
Life-of-mine sustaining capital is estimated at $23.6 million.
July 3, 2019
By: Jeff Baker
Many investors are asking this question: What the heck is wrong with Silver?
Why is silver not going up with gold, why are my silver shares not increasing in value?
All are good questions and we defer to the views of a few of our colleagues for their advice/opinions on these questions.
The message is to stay positive on silver and make sure you have a basket of silver shares or warrants on those shares in your portfolio.
Brian Lundin, Editor of the Gold Newsletter joins me to share his thoughts on the move in gold. We focus mostly on the sentiment in gold which has reached levels not seen since the peak in 2011.