Issued on behalf of Yukon Metals Corp.
VANCOUVER – USA News Group – According to former Wall Street financial analyst John Rubino, the performance of gold and silver mining stocks are finally outperforming the metals themselves. This makes for an interesting market, as gold has steadied to near an all-time high, and silver closed last week at an 11-year high. As the two precious metals duke it out, miners and explorers are reaping the benefits, including new developments from Yukon Metals Corp. (CSE: YMC), Jaguar Mining Inc. (TSX: JAG) (OTCQX: JAGGF), Mawson Gold Limited (TSXV: MAW) (OTCPK: MWSNF), Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF), and Perpetua Resources Corp. (NASDAQ: PPTA) (TSX: PPTA).
The article continued: Economic analyst Jesse Colombo has stated he expects a further breakout in silver prices to reverse the trend of gold outperforming over the past three months, calling for a $50/oz intermediate-term target for silver. As well, the CEO of B2Gold has recently stated that he expects to see an increase in gold mining M&A as gold prices continue to rise.
Yukon Metals Samples Bonanza Grade Gold, up to 3 oz/ton, and up to 52 oz/ton Silver from Multiple Areas at Star River
Continuing upon the momentum it’s established since acquiring a premium copper-gold-silver property portfolio in June, well-financed mining exploration company Yukon Metals Corp. (CSE: YMC) just released another update of sample results ongoing reconnaissance fieldwork on its from its 715-hectare Star River Project. In terms of gold, this second batch of results were even better than the last, showcasing bonanza grade gold, of up to 3 ounces per ton gold (or 101g/t Au) and 52 ounces per ton silver (or 1,474 g/t Ag) from multiple areas on the project.
Among the significant gold and silver values that were uncovered, there were other multiple impressive gold samples of between 1.62-9.35 g/t Au and 9.74 g/t Au, and elevated silver was also found in several samples, including 1,285 g/t and 1,450 g/t Ag, two samples over 1,500 g/t Ag (pending overlimit assay), and 1,790 g/t Ag. In addition, overlimit assay of sample K140057, described in the news release dated September 10, 2024, contains 10,936 g/t Ag (319 ounces per ton silver) from a new mineralization occurrence on the property also located in the Yukon.
“Yukon Metals has now sampled bonanza grade silver and bonanza grade gold on the same property, at Star River!,” said Rory Quinn, President & CEO of Yukon Metals. “Not only have we
sampled 319 ounces per ton silver (~4oz/t gold equivalent), we have now sampled 3 oz/ton gold! As shown in Figures 7-8, high grade samples of both silver and gold have been collected from multiple areas across this 715-hectare property, in most cases, areas many hundreds of meters apart. These ongoing results are a culmination of the fantastic work done by our technical team this field season, and there is more to come!”
The field portion of the exploration program has now been completed, including mapping, prospecting, and ground geophysics including TDEM and gravity surveys. Data processing and map compilation is ongoing with further rock samples from the prospecting survey still pending analysis. Upcoming samples are expected in several areas on the northern portion of the claim block.
Yukon Metals holds full ownership of the Star River base and precious metals project, which is easily accessible via the Robert Campbell Highway and the former Ketza Mine haul road. The project features several occurrences of polymetallic carbonate replacement mineralization and quartz-sulphide veins, initially discovered in the 1950s. Evidence of past underground and surface workings, conducted using historical exploration methods, can still be seen across the property, all connected through previously established access routes from the Ketza Mine road.
The Star River results followed on the heels of Yukon Metals announcing positive results at its copper-gold Birch Property, which included a rock-chip sample containing 14.1 g/t gold and 4,260 ppm copper, and up to 0.99 g/t gold and over 0.2% copper in soils, across 1,400 meters.
Jaguar Mining Inc. (TSX: JAG) (OTCQX: JAGGF), a junior gold mining, development and exploration company operating in Brazil, recently provided an update on its newly defined high-grade BA zone at the Pilar mine in Brazil. Included in the results were 9.35 g/t Au over an estimated true width of 7.5m (including 33.1 g/t over an estimated true width of 1.25m). To date in 2024, cumulative access development of approximately 374 m has been completed on five sub-levels. This development has generated 30,547 tonnes of run-of-mine ore feed at an average grade of 4.64 g/t producing 4,032 ounces of Au in the first half of 2024.
“We have continued to make good progress accessing the BA zone with lateral development on five separate sub-levels since March,” said Vern Baker, President and CEO of Jaguar Mining. “The higher grades seen from BA development ore, along with positive step-out diamond drilling results and geological mapping are confirming structural continuity. The headline drill intercept on level 18 indicates the potential for a vertical panel of mineralization down to level 18, all of which supports our goal of achieving consistent production from this area going forward. We expect the overall contribution from the BA zone to increase over the next few quarters to a point where approximately 50% of mined production at Pilar in the second half of 2025 will be sourced from this new zone once fully accessed and developed.”
Mawson Gold Limited (TSXV: MAW) (OTCPK: MWSNF), a leading Nordic exploration company, through its 49%-owned subsidiary Southern Cross Gold (SXG), recently announced SXG’s successful extension of high-grade mineralization 100m down-dip from the Apollo prospect at the 100%-owned Sunday Creek Gold-Antimony Project in Victoria, Australia. Perhaps even more interesting was the confirmation of all holes successfully having intersected mineralization in targets generated by VRIFY’s AI-assisted mineral discovery platform, VRIFY AI. With these new holes, the zone has become a priority for SXG due to AI generated targets that show the possible extension of this zone approximately 400 m to the east.
“The common thread linking all drill holes at Apollo East is the confirmation of the geological target by VRIFY AI,” said Michael Hudson, Interim CEO and Executive Chairman of Mawson. “Using an unbiased approach to mineral exploration, VRIFY AI identified mineralisation patterns within multiple layers of data from Sunday Creek to successfully delineate the potential for additional mineralisation at the Apollo East target. Working alongside the SXG exploration team, Apollo East has demonstrated the effectiveness of VRIFY AI in confirming new targets at Sunday Creek while enhancing the precision and execution of geological targeting by the team.”
Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF), an exploration stage company focused in Alaska, recently expanded and upgraded its resource at its Golden Summit project, increasing its base case resource ounces and grades from its previous February 2023 estimates. The new resource calculations include 12.1 million ounces at 1.08 g/t Au Indicated, and 10.3 million ounces at 1.04 g/t Au Inferred. In addition, a significant oxide resource exists of 0.9 million ounces at 0.49 g/t Au (indicated).
The current estimate is based on a gold price of $1,973, which reflects the three-year trailing average. Even though the 2024 resource estimate uses a higher gold price than the $1,792 in 2023, this is balanced by a lower recovery rate (72% vs. 90%). Previously, the 2023 resource plan considered using CIL (carbon-in-leach) and oxidation to process the sulphide flotation concentrate for higher recoveries.
Perpetua Resources Corp. (NASDAQ: PPTA) (TSX: PPTA), a US-based mineral exploration and development company primarily focused on gold, silver, and antimony, recently announced a key federal decision to authorize its Stibnite Gold Project, which is poised to become the next world class gold mine, and the only US mined source of the critical mineral antimony. As per the announcement, the United States Forest Service (USFS) completed the Final Environmental Impact Statement (FEIS), and is issuing a Draft Record of Decision, authorizing the Stibnite Gold Project, with the Final Record of Decision (ROD) anticipated by the end of 2024.
“We believe that the Stibnite Gold Project is a win-win-win,” said Jon Cherry, President and CEO of Perpetua Resources. “It’s a win for Idaho, it’s a win for the environment, and it’s a win for America’s national security. Our independence from Chinese control over antimony is right here in our backyard, and Perpetua Resources is honored to provide a critical part of the solution to the United States’ strategic need for antimony, while also delivering an economically robust gold mine that will create new jobs in Idaho. It’s time for the Stibnite Gold Project to help secure our future.”
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