High-Grade Copper Zone Confirmed in Nevada's Majuba Hill Drilling Results
Giant Mining Corp. (CSE: BFG; OTC:BFGFF; FWB:YW5) has confirmed the presence of a copper-bearing breccia zone in the Majuba Hill copper-silver porphyry deposit in Pershing County, Nevada. Read more on the latest drill results and what they reveal about Majuba Hills' high-grade copper potential.
Giant Mining Corp. (CSE: BFG; OTC:BFGFF; FWB:YW5) has confirmed the presence of a copper-bearing breccia zone in the Majuba Hill copper-silver porphyry deposit in Pershing County, Nevada. This comes on the heels of its recent assay results for drill hole MHB-31. This hole, situated over 600 feet (185 meters) east of the high-grade MHB-30, successfully intersected the breccia marginal zone, providing valuable data on the extent and mineralization of this high-grade copper-bearing breccia.
Consulting geologist Buster Hunsaker stated in the press release, "This confirms breccia controls for the location and wide zones of copper and silver mineralization that was highlighted by the technical review completed before the 2024 drilling." The results of MHB-31 align with previous exploration targets outlined in the 2023 NI 43-101 report by Respec, suggesting the copper grade-domains identified in earlier models are accurate.
Also in the release, David Greenway, Giant Mining's CEO, emphasized the significance of these findings, noting, "With the validation of the Majuba Hill high-grade, copper-bearing breccia, we are looking forward to the next phase of the 2024 drilling program." This phase aims to develop Majuba Hill's potential as a significant domestic copper supply for the United States.
Copper mineralization was found in limonitic-matrix breccias, tourmaline-bearing stockwork, and tourmaline fracture zones, with copper appearing as azurite, malachite, cuprite, and chalcocite. The company maintains robust QA/QC standards, employing a program that ensures sample integrity from the Majuba Hill project site to ALS Labs' facilities in Elko, Nevada, and North Vancouver, B.C.
Why Copper?
In an October 18 video presentation posted to Kitco, Jeffrey Christian from CPM Group detailed the projected outlook for copper prices. He highlighted a "bright future" for copper. This outlook was driven by stronger economic activity than anticipated, with demand for copper growing as manufacturers rebuilt inventories and investors took long positions.
Christian noted a shift away from recession fears, stating, "The economies in the United States, Canada, parts of Europe, and other parts of the world are much stronger than we had anticipated," which fueled demand for copper products. He projected a longer-term upward trend in copper prices, bolstered by the global transition to renewable energy, as copper is essential for electrification and energy infrastructure.
Then, on October 25, Mining Weekly reported that Goldman Sachs raised its 2025 forecast for copper prices. The article cited China's stimulus measures as a key demand driver. Goldman noted that demand for copper would increase with China's equipment upgrade and consumer trade-in programs, adding, "The estimated China GDP boost to prices is significantly larger for metals than for oil and coal." The bank also observed risks tied to US-China trade tensions but remained optimistic about copper's demand growth potential.
On October 28, USA Today reported that copper traded at US$4.36 per pound, marking a 12.03% year-to-date increase. The publication linked copper's rising value to its essential role in various industries, particularly in electric vehicles, renewable energy systems, and infrastructure.
Some Giant Catalysts
Giant Mining's strategy for Majuba Hill aligns with the projected increase in copper demand due to the growing electric vehicle (EV) market and renewable energy sector. As outlined in the company's October 2024 investor presentation, copper's role in EV production is critical, with each EV requiring approximately 183 pounds of copper. With global demand for copper in EVs expected to surpass 1.7 million tonnes by 2027, the Majuba Hill project is positioned to meet part of this need.
The company's management believes Majuba Hill's location in a mining-friendly region with established infrastructure in Nevada is a considerable advantage. The October presentation highlights the completion of a multi-phase drill program and 2024 exploration efforts, including both reverse circulation (RC) and core drilling, to assess and expand mineral resources within the property.
Analysis of Giant Mining
*Ron Struthers, writing on his Substack on October 31, 2024, provided an optimistic view of Giant Mining Corp., underscoring its undervaluation and potential for growth.
Streetwise Ownership Overview*
Giant Mining Corp. (BFG:CSE; BFGFF:OTC; YW5:FWB)
*Share Structureas of 5/23/2024Source: Giant Mining Corp.Struthers noted, "There are only 23.5 million shares outstanding, and at 18 cents, the valuation is only $4.2 million. Ridiculously cheap for the property BFG has." He highlighted positive exploration results at Giant's Majuba Hill copper-silver deposit in Nevada, describing it as a "strong mineralized system" with high-grade copper indications and anticipating more favorable drill outcomes. Struthers issued a "Buy" recommendation, suggesting that "In a year from now, we are going to look back and wish we bought more."
Ownership and Share Structure
According to Giant Mining Corp., approximately 18.6% of its shares are held by insiders. The remaining shares are held by retail investors.
Giant Mining Corp. has a market capitalization of approximately CA$4.7 million.
The company's shares are traded on the Canadian Securities Exchange (CSE) under the ticker BFG, on the Deutsche Boerse AG (DB) under the ticker YW5, and on the OTC Pink Sheets in the U.S. under the ticker BFGFF, with these listings active since December 2017.
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Important Disclosures:
Giant Mining Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000. In addition, Giant Mining Corp. has a consulting relationship with Street Smart an affiliate of Streetwise Reports. Street Smart Clients pay a monthly consulting fee between US$8,000 and US$20,000.As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Giant Mining Corp.James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.For additional disclosures, please click here.
Disclosures for the quotes from the Ron Struthers newsletter published on October 31, 2024
Giant Mining Corp. is a paid advertiser at Playstocks.netAll forecasts and recommendations are based on opinion. Markets change direction with consensus beliefs, which may change at any time and without notice. The author/publisher of this publication has taken every precaution to provide the most accurate information possible. The information & data were obtained from sources believed to be reliable, but because the information & data source are beyond the author's control, no representation or guarantee is made that it is complete or accurate. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Because of the ever-changing nature of information & statistics the author/publisher strongly encourages the reader to communicate directly with the company and/or with their personal investment adviser to obtain up to date information. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. The author/publisher may or may not have a position in the securities and/or options relating thereto, & may make purchases and/or sales of these securities relating thereto from time to time in the open market or otherwise. Neither the information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein. The author/publisher of this letter is not a qualified financial adviser & is not acting as such in this publication.