Vancouver, Kelowna, Delta, BC – October 5, 2022 (Investorideas.com Newswire) Investorideas.com, a global investor news source covering mining and metals stocks releases today’s edition of Exploring Mining Podcast, featuring stock news from TSX, TSXV, CSE, ASX, NASDAQ, NYSE companies plus interviews with CEO’s and leading experts.
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Exploring Mining Podcast 303 – News from (NYSEAmerican: NGD) (NYSEAmerican: EQX) (TSXV: MTU) (TSXV: ORX)
NovaGold Resources Inc. (NYSEAmerican:NGD) has reported the financial results for its third quarter 2022. Highlights include a cash position of $132 million as of August 31, 2022, as well as the wrapping up of a drill program with 141 holes and 42,334 metres at the company’s Donlin Gold Project. An excerpt from the press release reads:
NOVAGOLD’s primary goals in 2022 are to continue to advance the Donlin Gold project toward a construction decision; maintain or increase support for Donlin Gold among the project’s stakeholders; promote a strong safety, sustainability, and environmental culture; maintain a peer-leading reputation for NOVAGOLD, its governance practices and its project among shareholders; and manage the Company treasury effectively and efficiently.
Equinox Gold Corp. (NYSEAmerican:EQX) has achieved commercial production at its Santa Luz Gold Mine in Brazil effective October 1, 2022. According to the press release, the Santa Luz mill is “operating at approximately 90% of design capacity of 7,400 tonnes per day, with recoveries consistently above 70% and ranging up to 85%,” and “approximately 23,000 ounces of gold have been produced to September 30, 2022.” The company’s President and CEO, Greg Smith, said:
“Santa Luz is our fourth operating mine in Brazil and represents 100,000 ounces of average annual production with mine life extension potential from near-mine surface targets, an underground deposit, and additional opportunities in the 70-km-long mineralized greenstone belt that hosts our Santa Luz and Fazenda mines.”
Manitou Gold Inc. (TSXV:MTU) has announced assay results for the final drill hole from its summer diamond drill program at the Goudreau project. According to the press release, all three drill holes of the maiden program “intersected continuously serpentinized and mineralized intervals of ultramafic rocks in excess of 200 metres.” The company also plans to spin out nickel-cobalt-PGE commodities from the aforementioned Goudreau project into a newly incorporated subsidiary called Western Nickel Corp.
Orefinders Resources Inc. (TSXV:ORX) has acquired 100 percent interest in the GSL Zinc Project through staking. GSL comprises 60,000 hectares in Northern Alberta, Canada, within the Great Slave Lake Shear Zone in Western Canada’s Sedimentary Basin. Stephen Stewart, Orefinders CEO, said:
“Orefinders’ focus remains gold. However our group has been evaluating GSL for years, as we believe it presents exposure to a potential new large-scale discovery. GSL offered a risk rewards opportunity that we could not pass up. Our thesis on GSL presents a basic question that can be answered with a relatively low-cost drill program, and whose rewards are well suited to our business model and returns we seek.”
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