Reyna Gold Corp – Exploration Update On First 8 Drill Holes From The La Gloria Project
Michael Wood, CEO and Director of Reyna Gold Corp. (TSX.V: REYG) (OTCQB: REYGF), joins us for an exploration update at the flagship La Gloria Project, a 24,215 ha area located along the Mojave-Sonora Megashear trend in Sonora, Mexico.
The Company has embarked on the first 10,000 meter drill program that kicked off in February, with 18 holes drilled thus far, and results from the first 8 holes that were released on April 20th. There are multiple target areas, but the initial focus in 2022 is going to be on the Main Zone and El Sombrero targets. Two of the holes that have reported thus far were drill hole LG-22-005, 7.85m of 3.95 grams per ton (g/t) Gold (Au)from surface, including 1.30m of 19.65 g/t Au, extending the known breccia northeast, and drill hole LG-22-001, 30.6m of 0.51 g/t Au from surface increasing depth of known breccia at Big Pit.
In addition to the success in the breccia zone, the company also made a discovery of the new Las Amarillas quartz vein mineralization at Pique Viejo with drill holes LG-22-007 & LG-22-008 discovered Las Amarillas Vein including intersects of 0.6m of 8.61 g/t Au and 0.5m of 4.13 g/t Au and established minimum length for Amarillas Vein of 280m and 81m discontinuous length with seven veins closely stacked.
We also discussed the polymetallic nature of the mineralization with 5 metals – gold, silver, copper, zinc, and lead at some of the exploration work completed at surface and with drilling at the Main Zone and El Sombrero, and why this has their team encouraged. The exploration team is guided by the prolific geologists Dr Peter Megaw and Doug Kerwin as technical advisors, and solid team acquired from many of the other mines operated by the major producers along this prolific mineralized trend.
If you have any questions for Michael regarding Reyna Gold, then please email us at either Fleck@kereport.com or Shad@kereport.com.
If the GSR does break out, it probably won’t stick.
GLD:SLV 60 minute:
https://stockcharts.com/h-sc/ui?s=GLD%3ASLV&p=60&yr=0&mn=1&dy=22&id=t8846427590c&a=1151693988&r=1651000236848&cmd=print
Parabolic rise in silver not gonna happen for a considerable length of time.
The Nasdaq is on the cusp of breaking below the neckline of a large H&S pattern that projects down to about 10,000. From there, 7,000 will likely eventually come barring Fed intervention.
The Nasdaq is already sufficiently broken from several angles, especially momentum.
https://stockcharts.com/h-sc/ui?s=%24COMPQ&p=W&yr=3&mn=11&dy=0&id=p64951620179&a=942652907
looks like the bears are going to enjoy taking down silver miners along with the Nasdaq. Where it stops, only Powell and his cronies know. Wish we got their trades in real time.
Good point. I would like to see the trades of the new NY Fed Trading Desk they recently moved to Chicago to be near the CME.
aem earnings on Friday. The results and reaction worth watching. If this one is a dud and can’t benefit from not too shabby gold prices at 1900 or so, hate to think what that means for all the juniors and explorers already at lows at or below aug 2020 lows when gold traded at 1500 or so.
Patience, patience no rush for anything
Silver has now given up all of the gains it made since the COVID crash vs the unweighted commodity complex (GCC). Makes perfect sense.
The Markets got spanked again today, “Oh Lucy you have been a bad girl”. LOL! DT
Those were the days…never coming back
GSR is looking like it could breakout above 82-83 imminently. If it does, it is almost certainly going to be filling the huge gap around 90 from 2020 and perhaps the one at 106.
While I am expecting silver to hit $100+ within the next few years, I am not ignorant enough to think we couldn’t get a major shakeout, yet again, before it starts a parabolic rise.
I am hoping it can muster enough strength to stay between $23 and $26 for the next 3 months, but you just never know with silver. The silver chart looks way better priced in yen (as most things probably do), but even there it could correct a fair amount and still remain bullish.