New Drilling Program Set To Expand Nevada Copper Project's Potential

Giant Mining Corp. (CSE: BFG; OTCBB: BFGFF; FSE: YW5) has announced a new engagement with Big Sky Exploration, LLC for diamond core drilling at the Majuba Hill Porphyry Copper Deposit in Pershing County, Nevada. The diamond core drilling will commence on July 15, 2024, and will drill a minimum of 1,600 feet of core drilling within the exploration target area. There is no maximum drilling requirement specified, allowing for potential expansion of the project. The initiative also includes plans for two deep core holes, each reaching up to 3,500 feet.

David Greenway, CEO of Giant Mining Corp., expressed enthusiasm about the partnership, highlighting Big Sky's use of modern mud technologies and engineering to enhance recovery success.

Greenway stated in the company news release, "We are thrilled to announce that the core drilling contract has been awarded to Ben Sieben's team at Big Sky Exploration. This group effort marks the beginning of one of [the] most exciting drill programs in recent memory for Giant Mining."

The Core Program aims to provide detailed and accurate data critical for understanding the extent of mineralization at the Majuba Hill Porphyry Copper Deposit, which includes copper, silver, and gold. This data will refine the geological model of the deposit, improving resource estimates and contributing to the project's economic assessment.

The Shine of Silver, Gold, and Copper

In a July 8 report on Forbes, Frank Holmes highlighted the strong performance of commodities in the first half of 2024, stating, "Silver, gold, and oil were the top-performing commodities." He further noted, "Silver's industrial demand, particularly in the green energy sector, presents a compelling growth story," and added that "Gold has shone brightly in 2024, rising 12.8% year-to-date and outperforming many major asset classes." Holmes also mentioned a bullish outlook for gold, with Goldman Sachs setting a target of US$2,700 per troy ounce by year-end.

According to a report on Market Watch on July 5, "Gold and silver futures posted their highest settlements since May on Friday," with gold prices up 2.5% for the week, marking the strongest weekly rise since early May. She also noted that "Silver also rallied Friday, with its September futures contract gaining nearly 2.8%, to settle at US$31.69 an ounce and log its highest finish since May 17," and "Prices for the white metal rose 7.2% for the week, the largest weekly rise since mid-May."

"Giant Mining is expected to continue to advance, and as there is no significant resistance until the CA$2.75 area is reached, it continues to be rated a Strong Buy, especially on any minor dips," Technical Analyst Clive Maund wrote.

On July 8, City Index wrote that "Silver posted its best weekly gain since mid-May, rising about 7%, while gold rose a solid 2.2% last week." They attributed silver's gains to the metal breaking out of a technical continuation pattern and the dollar's fall against foreign currencies.

The report also maintained a positive outlook, stating, "Our gold and silver forecast both remain positive" and "Despite their weaker start to the week, gold and silver may have long ways to go on the upside, I reckon."

Copper also has a strong upside. As Reuters wrote in May, "Equipment manufacturing is currently the largest end-use sector for copper, followed by construction and infrastructure. Global apparent use of refined copper rose from 10 million metric tons in the late 1980s to 26.5 million tons in 2023 as Asia became the largest consumer with a 70% share of consumption."

World would need 55% more copper mines to meet EV transition goals: study. As National Post wrote in July, “I think there’s a disconnect between, what the intentions are to meet the global warming challenges and the reality of the materials that are going to be required,” said Dr. Lawrence Cathles, an earth and atmospheric sciences professor at Cornell University.

Some Giant Catalysts

The engagement of Big Sky Exploration for the Majuba Hill Porphyry Copper Deposit represents a significant step for Giant Mining Corp. in its exploration and resource evaluation efforts. By utilizing advanced drilling technologies and methodologies, the company anticipates substantial advancements in defining the mineral potential of the deposit.

David Greenway emphasized the importance of this initiative, noting the potential for significant discoveries and advancements in the press release. The Core Program's success will enable Giant Mining to update its resource estimates with greater precision, ultimately optimizing development strategies for the Majuba Hill Porphyry Copper Deposit. This aligns with the company's broader commitment to creating shareholder value through meticulous exploration and resource management.

Moreover, the partnership with Big Sky Exploration, known for its expertise in diamond core drilling and adaptability to challenging drilling environments, adds a layer of confidence to the project's execution. The comprehensive drilling data obtained will play a crucial role in the company's plans to address the growing demand for copper, silver, and gold, driven by global initiatives like the Green New Deal.

Expert Analysis

In his May 30 report, Ron Struthers of Struthers Resource Stock Report emphasized Giant Mining Corp.'s strong financial standing, noting, "Giant Mining Corp. is well financed with just over CA$4.4M raised in recent financings. The drill phase is coming soon, and based on past results, we know with confidence that this drill round will provide some excellent numbers."

This highlights the company's robust financial health and the potential for significant discoveries in the upcoming drilling phase, positioning it well for future growth.

Technical Analyst Clive Maund also provided a favorable evaluation of Giant Mining Corp. in May, pointing out several factors that make the company an attractive investment.

Maund stated, "The substantial financing that was announced as closed on the first of the month was oversubscribed, and any future ones are expected to be as well." This indicates strong investor confidence and financial support for the company. Maund further noted that Giant Mining's stock price had broken out of a technical pattern and was expected to continue its upward trajectory, particularly given the strong market for copper. 

He concluded, "Giant Mining is expected to continue to advance, and as there is no significant resistance until the CA$2.75 area is reached, it continues to be rated a Strong Buy, especially on any minor dips."

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$14,077,863

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.

Important Disclosures:

1. 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 an affiliate of Streetwise Reports, and pays a monthly consulting fee between US$8,000 and US$20,000.
2. 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.
3. James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
4.  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. 

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