Milestone Reached as Copper Drilling Advances in Nevada's Majuba Hill

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* Disclosure for the quote from the Ron Struthers newsletter published on August 7, 2024

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Giant Mining Corp. (CSE: BFG; OTC:BFGFF; FWB:YW5) has successfully completed its second core drill hole, MHB-31, at the Majuba Hill Porphyry Copper Deposit in Pershing County, Nevada. The drilling reached a depth of 1,086 feet, marking a significant milestone in the company's ongoing diamond core drilling program. The core from MHB-31 has been quick-logged, sampled, and tagged on-site by Giant Mining’s project geologists and has been transported to Woods Process Services, LLC for sawing and processing before being sent to ALS Global Services for comprehensive laboratory analysis.

David Greenway, CEO of Giant Mining, expressed his satisfaction with the progress, stating in the news release, "We are very pleased with the progress of our drilling program at Majuba Hill, particularly with the successful completion of MHB-31 at a depth of 1,086 feet." The company is eagerly awaiting the lab results from ALS Global Services, which will provide further insights into the deposit and its potential.

The Mining of Copper

The copper mining sector has been experiencing significant growth, driven by the increasing demand for copper as a critical component in various industries, particularly in the global clean energy transition.

According to Fortune Business Insights on August 5, "The global copper mining market was projected to grow from US$9.26 billion in 2024 to US$11.86 billion by 2032, exhibiting a CAGR of 3.13% during the forecast period." This growth has been fueled by government initiatives and policies promoting infrastructure development, which significantly boosted the market as copper is essential for constructing infrastructure projects such as buildings, bridges, and electrical systems.

Stockhead reported on August 15 that "Miners were investing in increasing their asset bases in line with a strong demand outlook, with exploration budgets reaching a nine-year high." This investment trend was particularly relevant for companies like Giant Mining, which continued to develop its Majuba Hill Porphyry Copper Deposit to meet the surging demand for copper. The publication also highlighted that "The copper market was quite a strong market with a great price, and there was a great need for copper demand going forward," indicating the robust nature of the sector.

Also, as cited by Bloomberg on August 20, "The industrial metal is up about 5% since early August, with tentative signs of a rebound in China helping to steady sentiment."  

Giant Steps Forward

Giant Mining's ongoing drilling efforts at Majuba Hill are central to refining the geological model of the deposit, which is expected to significantly enhance the company's resource evaluation process. By focusing on collecting high-quality data, the company aims to gain a more precise understanding of the deposit's size, structure, and mineralization. This data will allow for more accurate updates to mineralization grades and tonnage estimates, thereby reducing geological uncertainties and increasing confidence in the project's potential.

As per Giant, the company's stringent Quality Assurance/Quality Control (QA/QC) measures, including the use of industry best practices and a robust chain of custody for samples, further bolster the reliability of the data being collected. With the completion of MHB-31 and the anticipated lab results, Giant Mining believes it is well-positioned to advance its Majuba Hill project and strengthen its overall resource portfolio.

Expert Thoughts on Giant Mining

Ron Struthers from Struthers Resource Stock Report has been closely monitoring Giant Mining Corp.'s progress at the Majuba Hill porphyry copper deposit, particularly with the recent completion of hole MHB-30.

*He commented on August 7 that "Giant Mining Corp. completed hole MHB-30 to a depth of 800 ft (244m)." Struthers highlighted that this was the first hole in the company's diamond core drilling program at Majuba Hill, which signals the beginning of a significant exploration effort. 

Struthers also provided a strategic recommendation for investors, noting that "results will probably be around late September, so [it] gives us some time to buy ahead of this." 

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$$17,362,698.

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.