Morning Briefing - Snowline Gold PEA Results and Mexico Mining Update
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It's Tuesday, June 24th.
There is Peace in the Middle East, according to statements out of President Trump and the White House yesterday, despite recurring reports of more explosions in Iran overnight. The safe-haven allure of gold wore off quickly after the news. Gold now is down over 2% to $3,315/oz. Silver is down about two and a half percent to $35.34/oz. And in important mining news, Mexican President Claudia Sheinbaum is reported to say that Mexico will not grant new mining concessions. According to an S&P Global article, the government will review existing concessions for environmental impact to determine how much exploration can continue. Many equities operating in Mexico are also seeing noticeable declines this morning.
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…Integra Resources.
Integra is a growing precious metals producer in the Great Basin of the Western United States. Integra is focused on demonstrating profitability and operational excellence at its principal operating asset, the Florida Canyon Mine, located in Nevada. In addition, Integra is committed to advancing its flagship development-stage heap leach projects: the past producing DeLamar Project located in southwestern Idaho, and the Nevada North Project located in western Nevada. Learn more about the business and their high industry standards over at integraresources.com
And here’s what you need to know this morning…..
Snowline Gold shared results of their Preliminary Economic Assessment last night after market close. The PEA envisions a conventional open pit mining and milling operation for Valley with a projected 20-year LOM producing 6.8 million ounces (Moz) of payable gold with a front-weighted production profile and attractive economic parameters. The economics of the Valley Deposit now sit at a C$3.37 billion post-tax net present value at a 5% discount rate ("NPV5%") at US$2,150/oz Au, increasing to C$6.80 billion at US$3,150/oz Au. The IRR of Valley is 25% at the base case and 37% using the higher gold price. Capex is estimated to be C$1.7B with a 2.7 year payback period. Fieldwork and engineering studies are underway on site to inform future technical studies, alongside extensive regional exploration and drilling aimed at complementary, district-scale discovery. (TSXV:SGD) (OTCQB:SNWGF) News Release
Heliostar Metals announced results from the Truckshop stockpile at its operating La Colorada Mine in Sonora, Mexico. This is part of an ongoing drilling program across multiple targets at the mine. Drill results included 10.7m of 1.81 g/t gold from surface, 13.7m of .61 g/t from surface, and 9.1m of .87 g/t Au from surface. The Truckshop stockpile was deposited as a waste dump in the 1990s when La Colorada was operated by Eldorado Gold Corporation. It is located only 400 metres from the mine's crushing circuit. Production records suggested that some of this material could be at a grade that is potentially economic in the current gold price environment. This provides a production bridge prior to higher-grade production from the Veta Madre and Creston pits. (TSXV: HSTR) (OTCQX: HSTXF) News Release
Founders Metals announced a new gold discovery at its Antino Gold Project in Suriname. Drilling returned 22.5m of 11.88 g/t Au at Maria Geralda, a new target about 5 km SE of Lower Antino. The company is planning follow up drilling this year and says the discovery validates their systematic exploration approach with auger sampling identifying a 500 m by 400 m gold anomaly at surface where 54% of samples returned assays above 0.1 g/t Au. (TSXV: FDR) (OTCQX: FDMIF) News Release
Dryden Gold says they have made another new hanging wall discovery at the Gold Rock Target area in the Jubilee zone. Two drill holes intercepted visible gold in a second hanging wall structure, parallel to the hanging wall discovery in hole 3 this year, which assayed over 300 g/t Au over 3.9m. Assays are pending for these new holes. (TSXV: DRY) (OTCQB: DRYGF) News Release
Alamos Gold reported new results from underground and surface drilling at the Island Gold Mine. Exploration drilling continues to extend high-grade gold mineralization across the Island Gold Deposit, as well as within several hanging wall and footwall structures. Results included 21.58 g/t Au over 5.07m at Island West, 37.26 g/t Au over 2.86m in the Island West B zone, and 86.36 g/t Au over 2m at the E1D1 Zone. And there are more results from undefined zones as well. Drilling continues to intersect high-grade mineralization beyond currently defined zones and in proximity to existing underground infrastructure. This includes drill hole 1025-503-12 (86.23 g/t Au over 2.15 m), located 45 m south of the main C-Zone in Island West. These are part of more than 1,500 intersections above 3 g/t Au outside of existing Mineral Reserves and Resources in the hanging wall and footwall. Through additional drilling, there is excellent potential to define additional new zones supporting significant growth in near-mine Mineral Reserves and Resources. (TSX:AGI; NYSE:AGI) News Release
District Metals says the helicopter-borne mobileMT survey on the Viken deposit is complete and has been moved to the alum shale properties in Jämtland and Västerbottens Counties, north-central Sweden. Preliminary interpretations indicate that the MobileMT survey has successfully mapped out the mineralized Alum Shale host rock of the Viken Energy Metals Deposit, which has validated this geophysical survey for further use at the Company's Alum Shale Properties. The final results and interpretations of the MobileMT survey on the Viken Property will likely be released in Q3 2025. (TSXV: DMX) (Nasdaq First North: DMXSE SDB) (OTCQB: DMXCF) News Release
Vizsla Copper has commenced drilling at the Poplar Project in central British Columbia. Drilling will target the highly prospective Thira porphyry-related copper-molybdenum target. The planned program consists of up to 2,400 meters of diamond drilling across 5 to 6 holes covering a potential footprint of ~500 by 600 meters. The drill rig is currently advancing the first hole. (TSXV: VCU) (OTCQB: VCUFF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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