The S&P/TSX Venture Composite Index rose 0.02 points or 0.002% in the August 2-6 trading week. Spot gold fell US$50.70 to US$1,763.10 per ounce.
Shares of Filo Mining jumped $1.02 to $10.89. The junior reported drill results from its 100%-owned Filo del Sol project in Argentina's San Juan province. Drillhole FSDH049 returned 425.3 metres grading 91.5 grams silver per tonne, 0.42% copper and 0.44 gram gold per tonne (1.55% copper-equivalent), including the highest grade silver intersection on the project to date, with 4 metres grading 5,045 grams silver per tonne from a depth of 236 metres contained within a broader silver interval of 56 metres grading 629.1 grams silver per tonne from a depth of 228 metres. Another drillhole, FSDH051, extended the mineralized zone by 750 metres to the north, bringing the total north-south extent of continuous mineralization to 4,500 metres. This is the most northerly hole drilled so far at the project, and returned 344 metres grading 9.4 grams silver, 0.26% copper and 0.21 gram gold (0.50% copper-equivalent) from 246 metres downhole. Filo Mining plans to complete a resource update before the end of the year.
Tudor Gold's shares rose 29 ? to $2.50. The company announced the first results from its 2021 resource expansion and definition drill program at the Goldstorm deposit, part of its flagship property, Treaty Creek, in northwestern British Columbia's Golden Triangle. (Seabridge's KSM project lies about 5 km to the southwest of Goldstorm.) Highlights from the drilling included drillhole GS-21-103, which returned 801 metres grading 0.653 gram gold per tonne, 3.02 grams silver per tonne, and 139 parts per million copper (0.704 gram per tonne gold-equivalent) from 27 metres downhole, including 75 metres 0f 1.815 grams gold per tonne, 12.89 grams silver per tonne and 503 parts per million copper (2.025 grams per tonne gold-equivalent). The Goldstorm deposit remains open in all directions and at depth.
Shares of Great Bear Resources fell 58 ? to $14.33. The company updated investors on its ongoing fully funded $45 million 2021 exploration program at its 100%-owned flagship Dixie project in Ontario's Red Lake district. The company said it has completed 440 drill holes at the project's LP Fault, and its Phase 1 drill program is substantially complete to an average depth of 450 metres along a strike length of over four kilometres. Of the 440 holes totaling over 40,000 metres, 109 drillholes are being assayed and the results are expected over the next two to three months. Great Bear said an initial resource estimate modeling the first 450 metres of mineralization from surface at the LP Fault is underway and is expected to be published no later than the first quarter of 2022. The company said it is now starting Phase 2 drilling.