New Drilling at Majuba Hill Targets High-Grade Copper-Silver Potential
Giant Mining Corp. (CSE: BFG; OTC:BFGFF; FWB:YW5) has advanced its drilling program at the Majuba Hill Copper Property in Nevada. Read how the CEO is excited for this announcement and how it affects Giant Mining shareholders.
Giant Mining Corp. (CSE: BFG; OTC:BFGFF; FWB:YW5) has advanced its drilling program at the Majuba Hill Copper Property in Nevada. This marks the completion of its core hole MHB-31 as part of the ongoing diamond drilling campaign. The 1,086-foot hole was drilled at a 310? azimuth with a -50? inclination and delivered to ALS Global Services in Elko, Nevada, for analysis. The hole passed through magmatic-hydrothermal breccias and strong oxide copper mineralization. This is similar to findings in MHB-30, which previously returned notable copper and silver grades.
According to CEO David Greenway in the news release, "We are excited to advance our exploration efforts at Majuba Hill. We look forward to receiving the lab results from ALS labs, which will further our understanding of the deposit's potential to become a significant domestic supply of copper for the U.S.A. and for the benefit of all Giant Mining stakeholders."
The 2024 drilling campaign aims to support an NI 43-101 maiden mineral resource estimate for Majuba Hill. The company is targeting near-surface, open-pit grades and exploring deeper sections for resource expansion. Additionally, reverse circulation drilling is planned to reach a cumulative depth of 12,800 feet across 16 new holes, with a focus on infill drilling and testing new targets to refine copper grade estimates.
A Deeper Look At Copper
According to Ahead of the Herd on September 28, The Silver Institute reported that silver experienced an "184.3 million-ounce deficit in 2023 on the back of robust industrial demand." The institute projected that demand would continue to "grow by 2% this year, led by an anticipated 20% gain in the PV market," with industrial fabrication reaching "another all-time high, rising by 9%." In addition, demand for silver across various sectors was expected to expand, with "jewelry and silverware fabrication predicted to rise by 4% and 7%, respectively." A projected supply decrease of 1% would result in a 2024 deficit of "215.3 million ounces, the second-largest in more than 20 years." Silver remained in a shortage for the fourth consecutive year, with The Silver Institute noting that "mined supply [seemed] unable to keep up with demand" driven by growing applications in "the solar and electronics markets."
Ahead of the Herd also included commentary from Richard Mills, who observed that silver and junior mining stocks were "likely to rise even more" than gold due to the energy transition. He cited ongoing growth in the PV market and industrial applications as favorable for silver-focused equities.
In the copper market, Watcher.Guru reported on September 25 that "Copper prices [were] skyrocketing" following the Federal Reserve's recent 50-bps rate cut. The metal's price rose from US$9,200 to US$9,600 over the week, with copper positioned as "among the top gainers in the broader commodity markets this month." Tianyu, a market analyst, anticipated that "copper demand and price [would] improve in the fourth quarter," citing both economic trends and sustained demand as factors.
Some Giant Catalysts
According to Giant Mining's October 2024 investor presentation, the company's strategic focus on copper is driven by growing demand from the electric vehicle (EV) market, where each vehicle requires about 183 pounds of copper. Historically, Majuba Hill has demonstrated both oxide and potential underlying sulfide deposits, with an exploration target estimated between 50 and 100 million tonnes at grades ranging from 0.15% to 0.30% copper.
The company's ongoing drilling program aims to expand this target zone, and Giant Mining's efforts to enhance access through new road construction have further facilitated exploration progress. The resource development, along with Nevada's mining-friendly environment, underscores Giant Mining's position in the copper market, with Majuba Hill slated as a prospective contributor to the U.S. copper supply.
Technical Analysis of Giant Mining
*Ron Struthers from Struthers Resource Stock Report, on September 25, observed that Giant Mining Corp. achieved "an excellent hit on its first drill hole," referring to the results from Hole MHB-30 at the Majuba Hill copper-silver deposit. Struthers highlighted that the drill hole, which reached a depth of 218 feet (66.4 meters) from the surface, returned "74 feet (22.6 meters) of 2.6% copper and 30.1 g/t (grams per tonne) silver within 218 feet of 1.35% copper and 73.4 g/t silver."
Streetwise Ownership Overview*
Giant Mining Corp. (BFG:CSE; BFGFF:OTC; YW5:FWB)
*Share Structureas of 5/23/2024Source: Giant Mining Corp.These results were seen as particularly strong indicators of the mineralization potential at Majuba Hill, with Struthers emphasizing the robust copper and silver grades that underscore the deposit's promise as an asset in the growing copper and silver markets.
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 September 25, 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.