PALM BEACH, Fla., April 7, 2021 /PRESSDAILY.COM/ — U.S. President’s from Eisenhower to Biden may not always agree on much, but one thing they all say is important is a need for infrastructure repair and new developments. Highways, airports and a plethora of other projects are always said to be at the front of whatever administration is in power. Even today, shortly after the recent Presidential elections we heard from President Biden that he too shares this desire and vision… that the US’s infrastructure is in dire need of repair and fixing it is perhaps the most prominent policy issue that both Republicans and Democrats agree upon. Many believe that repaving roads, expanding highways, improving railways and ports, and building out digital superhighways should make conducting business easier and faster and, in turn, stimulate the country’s GDP growth. Since the election, the markets have rewarded investments that are expected to benefit from the rebuilding and expanding the US’s aging infrastructure. The copper industry would be one sector that could flourish as a response. Industry insiders, GLOBAL V, discussed base metals, such as copper and said that: “Base metals have been one such beneficiary, with five of the six major base metals registering positive returns… Some may be surprised to see that copper has been the best performer among the base metals. Active mining stocks mentioned in today’s commentary include: Ridgestone Mining Inc. (OTCQB: RIGMF) (TSX-V: RMI), Vista Gold Corp. (NYSE: VGZ) (TSX: VGZ), Kinross Gold Corporation (NYSE: KGC) (TSX: K), Sandstorm Gold Ltd. (NYSE: SAND) (TSX: SSL), Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI).
GLOBAL V continued speaking about what role copper will have. They said: “Copper is most widely used in electrical wiring given its properties as an excellent electrical conductor. Therefore, demand for the metal is most closely linked with growth in heavy machinery, consumer durables, electrical grids, and telecommunications. It is not known exactly what government support for new infrastructure will look like, but copper indirectly touches many of these improvements: Erecting new bridges, highways, and ports requires goliath machines to do the job; Once completed, these new projects are likely to attract investments in new cars, trucks, trains, cargo ships, and airplanes, all of which use copper extensively; and Should new infrastructure policies also focus on improving digital communications, copper is likely to see significant increases due to its prevalent use in wiring.”
Ridgestone Mining Inc. (TSX-V: RMI) (OTCQB: RIGMF) (FSE: 4U5) BREAKING NEWS – RIDGESTONE HIGHLIGHTS IP ANOMALY AND HIGH-GRADE COPPER AT REBEICO – Ridgestone Mining (“Ridgestone”) is pleased to announce encouraging results from geophysical surveys and follow-up exploration on its wholly-owned Rebeico project in Sonora, Mexico.
- Induced polarization (IP) and resistivity surveys totaling 31.4 line-kilometres (~6.0 sq. km) were previously completed by Zonge International of Tucson, Arizona.
- A strong IP high (chargeability anomaly) with an extent of 1,400 metres north-south and 800 metres east-west was identified south of the Alaska vein. This anomaly is most pronounced beneath the Company’s Elena concession where surface sampling has returned up to 3.77% copper and 0.741 ppm gold.
- High-grade copper ± gold is pervasive throughout the property with 1.56% copper plus 1.80 g/t gold intersected over 19.3 metres from surface at the New Year Zone and 2.78% copper plus 8.69 g/t gold over 2.0 metres from the Alaska Vein.
Jonathan George, Ridgestone’s CEO and Director, commented “The IP and resistivity survey has outlined a strong anomaly which is very pronounced at the Elena concession. Given the significant copper intersected from drilling on the New Year Zone and Alaska Vein, in addition to the high-grade surface samples from the Elena concession, we are highly encouraged about the potential for a significant copper system at Rebeico.”
The Induced Polarization (IP) and Resistivity surveys were carried out by Zonge International (“Zonge”) of Tucson, Arizona and consisted of 15 east-west lines spaced 200 metres apart, comprising coverage of 31.4-line kilometers of dipole-dipole measurements over an area of approximately 6.0 square kilometers.
The survey originated over the key Alaska vein, and provided coverage south through the New Year Zone and Elena concession. A summary report of the data provided by Zonge included 15 sets of IP and resistivity cross sections and horizontal slices at various elevations.
The Zonge report identified a pronounced high-chargeability feature which was encountered to the south and east of the Alaska vein at depths of 250 to 300 metres below surface, progressively increasing in width and intensity toward the south. This high-chargeability anomaly was identified over a total extent of 1,400 metres north-south and 800 metres east-west. The upper portion of the anomaly becomes progressively closer to the surface toward the south and is strongest beneath the Company’s Elena concession (Figure 1). Samples from copper mineralized outcrops at the Elena concession such as those in Figure 2 have assayed up to 3.77% Cu over 1.5 metres and 3.42% Cu over 1.5 metres; other samples assayed up to 0.741 ppm gold. Read this full release more news for Ridgestone Mining by visiting: https://www.ridgestonemining.com/news-releases/2021/
In other mining news of note:
Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) recently announced that step-out and infill drilling at the San Jose Mine has established continuity of high-grade mineralization in the upper levels of the Trinidad Footwall structures. The successful drill program was conducted from the second half of 2020 to date, representing 4,670 meters of step-out and infill drilling in 22 drill holes and targeted both resource upgrades and the potential to expand the resource outside of the current area of Mineral Reserves. Mineralization remains open in at least two directions, is adjacent to existing mine infrastructure, and as a result there is potential for inclusion of this material in near-term production.
David F. Volkert, Vice President of Exploration, commented, “In 2020, our exploration team at San Jose focused on re-evaluating their understanding of the structural and geological controls on mineralization at the Trinidad Deposit with the goal of identifying new near-mine exploration targets.” Mr. Volkert continued, “The interception of wide and high-grade mineralization in close proximity to current production areas at the mine reflects the structural complexity of the deposit and unveils discovery potential remaining at the San Jose Mine.”
Vista Gold Corp. (NYSE American: VGZ) (TSX: VGZ) recently announced the positive results of hole VB21-002 at its Mt Todd Gold Project (“Mt Todd” or the “Project”) in the Northern Territory, Australia. This 459-meter drill hole intersected mineralization on-trend with the Batman deposit, 500 meters north-northeast in an area with no deep drilling and encountered a 30-meter intercept grading 1.23 g/t Au. The results of this hole demonstrate the strong potential for continuity of gold mineralization along the 5.4 km strike length of the Batman-Driffield Structural Trend located on Vista’s mineral licenses (“MLs”). As a result, the Company today announced that it is expanding its drilling program to include an additional 10 holes to focus deep drilling along the 1.0 km strike area from the Batman deposit north to the Golf–Tollis/Penguin targets.
Frederick H. Earnest, President and Chief Executive Officer of Vista, stated, “Hole VB21-002 validated our belief that mineralization along the structurally-controlled Batman-Driffield Trend is more continuous and widely occurring than previously thought. This hole also provided important initial geology and mineralization information in an area previously undrilled at depth.
Sandstorm Gold Ltd. (NYSE: SAND) (TSX: SSL) recently announced that the Company sold approximately 17,400 attributable gold equivalent ounces and realized preliminary revenue of $31.0 million during the three months ended March 31, 2021, both representing a record for the Company. Preliminary cost of sales, excluding depletion for the three month period was $5.4 million resulting in cash operating margins1 of approximately $1,470 per attributable gold equivalent ounce.
Kinross Gold Corporation (TSX:K) (NYSE:KGC) will release its financial statements and operating results for the first quarter of 2021 on Tuesday, May 11, 2021, after market close. On Wednesday, May 12, 2021 at 7:45 a.m. EDT Kinross will hold a conference call and audio webcast to discuss the results, followed by a question-and-answer session.
Kinross’ Annual Meeting of Shareholders will be held on Wednesday, May 12, 2021 at 10:00 a.m. EDT. The Company has elected to hold a virtual meeting via a live audio webcast given the continued impact of the COVID-19 pandemic. Kinross believes this is a prudent approach that prioritizes the health and safety of shareholders and employees, while still providing the same level of disclosure, transparency and participation as previous meetings.
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