High-Grade Copper and Silver Found at Majuba Hill Deposit
Giant Mining Corp. (CSE: BFG; OTC:BFGFF; FWB:YW5) has announced high-grade copper and silver mineralization from recent drilling at its Majuba Hill Copper-Silver Deposit in Pershing County, Nevada. See the results from this drill, along with a big update on their stake in The Friday Gold deposit.
Giant Mining Corp. (CSE: BFG; OTC:BFGFF; FWB:YW5) has announced high-grade copper and silver mineralization from recent drilling at its Majuba Hill Copper-Silver Deposit in Pershing County, Nevada. The company intersected significant mineralization in drill hole MHB-30. It revealed 74.0 feet of 2.6% copper and 30.1 grams per tonne (g/t) silver within a broader intercept of 218.0 feet containing 1.35% copper and 73.4 g/t silver. Combining copper and silver values, the overall copper equivalent (CuEq) for the drill hole is calculated at 2.1% CuEq from surface to a depth of 218.0 feet, including a higher-grade zone from 140.0 to 214.0 feet at 2.9% CuEq.
Key Highlights:
Drill Hole MHB-30 Results: 74.0 feet of 2.6% copper and 30.1 g/t silver within a broader intercept of 218.0 feet with 1.35% copper and 73.4 g/t silver.Copper Equivalent: 0 to 218.0 feet of 2.1% CuEq, with a higher-grade zone of 2.9% CuEq from 140.0 to 214.0 feet.Ongoing Drilling: MHB-31 drilled to a depth of 1,086 feet, with results pending.Historical Context: Majuba Hill has produced copper, silver, tin, gold, and zinc from historic underground workings.Exploration Progress: Over 83,925 feet of exploration and development drilling have been completed at the project.CEO Quote: David Greenway stated the results "significantly exceeded our expectations for high-grade copper-silver mineralization."Future Development: The 2024 drilling program aims to expand the near-surface mineralization and support a maiden NI 43-101 mineral resource estimate.Giant Mining's CEO David Greenway expressed optimism regarding these results, stating in the news release, "We are excited by the results of hole MHB-30, which significantly exceeded our expectations for high-grade copper-silver mineralization." The company expects continued progress as it awaits further drill results from hole MHB-31, which was drilled to a total depth of 1,086 feet.
The Majuba Hill project has a long history of producing high-grade copper, silver, tin, gold, and zinc, with more than 83,925 feet of exploration drilling completed. The company's 2024 drilling campaign is focused on expanding the near-surface mineralization and targeting additional areas for future development.
Additionally, on September 27, Giant Mining provided an update on its 20% stake in the Friday Gold Project in Idaho. The Friday Gold deposit has a Historical NI 43-101 Mineral Resource Estimate (MRE) with 1.237 million ounces of gold indicated and inferred.
The company highlighted that the gold trading near an all-time high of US$2,700 per ounce could enhance the project's potential value. CEO David Greenway was quoted in that news release, as well, and expressed optimism about further expanding the gold resource by incorporating additional drill results from 14 previously drilled holes.
Greenway stated that the project "remains open in all directions with several new targets."
Into The Metals Sector
The copper sector has shown growth in 2024, driven by rising demand across several industries, particularly in renewable energy and electric vehicles. According to Watcher.Guru on September 25, "Copper prices are skyrocketing in the charts after the Federal Reserve announced an interest rate cut of 50 bps last week."
Prices increased from US$9,200 to US$9,600 over the week, with copper gaining considerable bullish momentum. This surge pushed copper to become one of the top gainers in the commodity markets, increasing by 13.3% year-to-date. Commodity Markets Analyst Tianyu anticipated continued positive performance into Q4 2024, predicting both demand and prices would rise by year-end.
According to The Economic Times, on September 30, central bank buying and geopolitical tensions also had a strong impact on silver, which has traditionally been tied to gold's performance. In the article, XM Australia CEO Peter McGuire emphasized that silver has benefitted from the broader demand for precious metals as a store of value, particularly in regions like India and China, where it has been part of their culture for millennia. He added that the overwhelming buying by central banks, combined with retail interest, has continued to push silver prices upward, reflecting a similar trajectory to gold in the current global economic climate.
Some Giant Catalysts
Giant Mining's ongoing exploration efforts at the Majuba Hill Copper-Silver Deposit align with the growing global demand for copper. According to the company's September 2024 investor presentation, copper is a critical component in EV motors, batteries, and wiring systems. Each electric vehicle requires approximately 183 pounds of copper, significantly more than traditional internal combustion engine vehicles. As EV adoption rises, the demand for copper is expected to increase, positioning Majuba Hill as a key contributor to meeting future supply needs.
In addition to copper, the consistent presence of silver in the Majuba Hill deposit enhances the overall value of the project. As noted in the presentation by Buster Hunsaker, Consulting Geologist, the silver values, which are closely associated with copper mineralization, offer additional recovery potential using flotation techniques. These silver results further bolster the economic viability of the deposit, complementing the copper production targets.
The 2024 drill program at Majuba Hill, which includes both reverse circulation and core drilling, is designed to expand the near-surface resource and increase the confidence level for a maiden NI 43-101 mineral resource estimate (MRE). This estimate will provide a clearer picture of the project's overall potential, with targeted grades ranging from 0.15% to 0.30% copper for an estimated 50 to 100 million tonnes of material.
Third-Party Expert Analysis
*In a September 9 article, John Newell of John Newell & Associates wrote highly of Giant mining, saying, "We believe the shares represent good value at the bottom of the share trading range, and therefore we have a Buy recommendation on the shares as a good contrarian value play."
He continued, "With its prime location in Nevada, robust infrastructure, promising geology, and strong potential for large-scale copper production, Giant Mining Corp. stands out as an attractive speculative play in the junior mining space. The company's systematic exploration of the Majuba Hill property could unlock a world-class copper resource, capitalizing on the growing demand for copper driven by the electrification of the global economy."
For investors seeking exposure to copper in a stable and mining-friendly jurisdiction, Giant Mining Corp. offers a compelling investment opportunity with significant upside potential. Giant Mining represents an enticing opportunity in the copper exploration sector, given the share's sharp decline.
*Ron Struthers of the Struthers Resource Stock Report on September 13 highlighted Giant Mining's recent completion of core drilling and the preparation for a 16-hole reverse circulation (RC) drilling program.
Streetwise Ownership Overview*
Giant Mining Corp. (BFG:CSE; BFGFF:OTC; YW5:FWB)
*Share Structureas of 5/23/2024Source: Giant Mining Corp.Struthers stated, "Giant Mining Corp. has completed core drilling with two holes and is preparing for the planned 16-hole reverse circulation (RC) drilling program at the Majuba Hill porphyry copper deposit."
This RC drilling campaign, designed to target up to 12,800 feet (3,901 meters) across strategic areas, is viewed as a critical step in advancing the Majuba Hill project.
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$5.75 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.
* Disclosure for the quote from the John Newell article published on September 9, 2024
For the quoted article (published on September 9, 2024), the Company has paid Street Smart, an affiliate of Streetwise Reports, US$2,500.Author Certification and Compensation: [John Newell of John Newell and Associates] was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Newell holds a Chartered Investment Management (CIM) designation (2015) and a U.S. Portfolio Manager designation (2015). The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.John Newell Disclaimer
As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it's advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.
* Disclosures for the quotes from the Ron Struthers newsletter published on September 16, 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.