TSX Venture falls during Mar. 7-11 trading week

The S&P/TSX Venture Exchange rose 6.14 points or 0.725% to 846.35. Spot gold fell US$2.25 per oz. or 0.11% to US$1,978.70 per oz. 

Shares of Vizsla Silver rose 34¢ to $2.79. The company released assay results from seven new drill holes targeting the Copala and Christiano veins, located east of the Tajitos resource area, at its 100%-owned Panuco silver-gold project in Mexico. Highlights included 7.81 metres grading 1,559 grams silver per tonne and 7.29 grams gold per tonne starting from 274 metres in drill hole CS-21-116; and 2.1 metres grading 1,237 grams silver and 10.53 grams gold starting from 186.35 metres in drillhole CS-22-123. “Copala continues to grow rapidly with very high grades and impressive widths over a large area,” Michael Konnert, the company’s CEO said in a press release. “This recently discovered near-surface, shallow dipping structure has now been traced over 650 meters in length, 350 meters downdip, and remains open in all directions.” Vizsla describes the geology and mineralization style of the 54.33-sq.-km property near the city of Mazatlan in southern Sinaloa as near identical to First Majestic Silver‘s San Dimas mine, 80 km away in the state of Durango. San Dimas produced 7.6 million oz. of silver and 81,237 oz. of gold in 2021.   

Shares of Prime Mining fell by 43¢ to $3.81. The company announced drill results from drill hole 22GE-33 located on the west side of the Guadalupe East zone at its wholly owned Los Reyes gold-silver project in Sinaloa State, Mexico. Highlights from the results included 1.2 metres grading 11.6 grams gold per tonne and 219 grams silver per tonne starting from 441 metres; and 29.2 metres grading 3.33 grams gold and 115.18 grams silver starting from 447 metres. Prime Mining’s CEO Daniel Kunz said that while the company doesn’t normally release results of a single drill hole, this specific hole provided important information. “Wide mineralized intercepts alongside historic stopes are confirming that underground mining at Guadalupe East did not extract much of the major mineralization,” he said in a press release. Eight drill rigs are currently operating at Los Reyes in the phase 2 program with four drill rigs now at Guadalupe East.  

Shares of Thesis Gold fell by 30¢ to $2.39. The company said that it began drilling at its 100%-owned Ranch Gold project, located in the northeastern region of the Stikine Terrane in British Columbia. It plans to conduct up to 10,000 metres of diamond drilling and focus on the 1.5 km-long Thesis structural corridor that hosts the Thesis II, Thesis III, and Bingo occurrences. Some of its objectives include assessing the exploration potential near the Bingo occurrence, which the company says has not seen contemporary drilling, but includes several promising surface geochemistry and geophysical anomalies nearby historical gold mineralization. It also aims to improve logging protocols to better understand mineralization of the corridor, specifically the lithological controls that it says were “poorly recognized in historical drill targeting work.”