Markets and commodities react

While markets saw small losses on Friday, they were broadly positive over the past five days, with the S&P 500 (INDEXSP:INX) gaining 0.94 percent to end Friday at 6,025.98 while the Nasdaq 100 (INDEXNASDAQ:NDX) gained 1.93 percent to 21,491.31. Meanwhile, the Dow Jones Industrial Average (INDEXDJX:.DJI) was flat, gaining just 0.08 percent to 44,303.41.

In Canada, the S&P/TSX Venture Composite Index (INDEXTSI:JX) saw a 4.95 percent gain on the week to close at 639.28 on Friday (February 7). Meanwhile, the S&P/TSX Composite Index (INDEXTSI:OSPTX) posted a 1.21 percent increase to hit 25,442.91 and the CSE Composite Index (CSE:CSECOMP) jumped 3.47 percent to reach 135.64.

Gold saw further gains this week as it continued to set new all time highs. Overall, the gold price increased 2.26 percent during the week to close at US$2,861.49 per ounce on Friday at 5 p.m. EST. Silver performed strongly as well, closing the week up 1.61 percent at US$31.80.

In base metals, the copper price surged 7.67 percent for the week to close at US$4.63 per pound on the COMEX, and the S&P GSCI (INDEXSP:SPGSCI) was largely flat, posting a 0.24 percent gain to close at 563.24.

Top Canadian mining stocks this week

So how did mining stocks perform against this backdrop? We break down this week’s five best-performing Canadian mining stocks below.

Data for this article was retrieved at 4:00 p.m. EST on February 7, 2024, using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.

FAQs for Canadian mining stocks

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Gold and antimony potential at Limousin

‘I was looking for something big,’ he explained during the conversation. “Great Bear was a great success story, and … if I was going to charge back into the fray and sit in the CEO chair again, I wanted to have something that would be significant — a significant project of size, something with clear tier-one potential.’

The Limousin project is located in Nouvelle-Aquitaine, about 40 kilometers south of Limoges. The area is known for its historical gold and antimony production, with mining activity dating back to 500 BCE.

The region hosts more than 900 ancient mining sites, indicating a long history of extraction.

Aquitaine Metals has access to a large historical database that includes a wide array of information, such as 222,000 meters of drilling, as well as over 66,000 drill core and 60,000 operational grade control assays.

Watch Taylor discuss Aquitaine Metals’ plans.

“It is the best potential gold project I have ever seen in a very, very long time — if not ever,” Taylor remarked.

Aquitaine Metals’ Phase 1 drill program will target high-grade gold zones at the Laurieras and Moulin de Cheni mines, focusing on the Pierrepinet and Douillac ore zones. The company aims to verify historical datasets and assess the economic viability of both gold and antimony extraction at the site.

Antimony, which often occurs alongside gold in stibnite form, is a critical mineral used in military applications, fire retardants and high-tech optics. With supply chains increasingly under scrutiny, the EU has identified antimony as a strategic raw material due to its economic importance and supply risks.

France’s mining industry revival

France has historically been a significant mining jurisdiction, with gold, silver and base metals extraction dating back to the Roman era. The Limousin Mining District has been one of the country’s primary gold-producing regions, with commercial mining activity continuing into the 20th century.

However, declining commodities prices and regulatory hurdles led to the closure of many operations.

Taylor explained that despite the country’s mining slowdown in the past century, its historical background in the space makes it a strong candidate for a production renaissance.

“Currently, there’s no real mining industry in France, but it is something that the government and the EU are very eager to get going again, because of the recent geopolitical changes,’ he said.

In recent years, Europe’s push for raw materials security has led France to reconsider its approach to domestic mining. The government has expressed support for projects that align with strategic resource independence, particularly in critical minerals like antimony. Moreover, the country has recently taken steps to streamline permitting and support domestic resource development to reduce reliance on foreign mineral imports.

In 2023, the French government implemented new policies to revive domestic mining and accelerate green energy projects, including plans to revive copper mining and fast track lithium and geothermal energy projects to reduce import dependency and meet climate targets. France, like other European nations, is increasingly viewing critical minerals as a matter of national security amid global geopolitical tensions and rising competition for resources.

As part of these efforts, France is considering cutting the permitting process in half for mining, geothermal energy and carbon dioxide storage projects. The country is also exploring the use of depleted oil and gas wells for carbon storage.

These policy shifts signal a broader commitment to revitalizing the country’s domestic resource sector — a trend that could benefit Aquitaine Metals and other companies seeking to develop new mining projects.

Next steps for Aquitaine Metals

With Taylor at the helm, Aquitaine Metals is preparing to begin drilling in early 2025.

As mentioned, the company’s strategy is to confirm high-grade mineralization identified in historical records and expand its understanding of the Limousin project’s gold and antimony potential.

If successful, the project could play a role in France’s broader efforts to establish a domestic mining industry capable of supporting both local and European demand for critical minerals.

For Taylor, this marks a new chapter — one that builds on his previous success in Canada, while bringing modern exploration methods to one of Europe’s most historically significant mining regions.

Halcones Precious Metals Corp. (TSX – V: HPM) (the “Company” or “Halcones”) is pleased to announce results from the first field program completed by the Company at the Polaris gold project, Chile (“Polaris” or the “Project”). Halcones’ geologists recently initiated field work comprised of mapping and sampling in a portion of the Project area. The samples consisted of continuous 1m long chip samples to ensure representative sampling.

Highlights:

• The Polaris Project is a large, highly prospective gold project. 17 former artisanal, high-grade mines occur within the Project area. These bonanza grade operations were active approximately 130 years ago¹. Sampling of extensive zones of highly fractured and brecciated wall rocks was not carried out. Extensive gold mineralization has been identified by surface bedrock sampling over 2.7 km of strike length on the property to date. The full extent of this mineralization is presently unknown, however initial results demonstrate potential for mineralization occurring over wide areas at shallow depths (Figure 1). Large areas of the Project remain unsampled. Additional surface mapping and sampling is in progress and the results reported here are from the initial Halcones assays.
• Select highlights from this field programs include 20.05, 13.08, 8.54 and 6.67 g/t, hosted in veins and stockwork. See figure 2 for locations of samples.
• The initial sample area which contained multiple high grade surface samples has been expanded. Sampling by Halcones geologists returned values consistent with work done by the optionors of the Project and extended the known area of high grade mineralization to more than double that previously outlined.
• High grade mineralization exhibits a strong structural control and in the area of the reported sampling (Figure 2) high grade samples occur on the southwest side of a structural break.
• Gold bearing stockwork at surface has been sampled over approximately a 220m X 300m area and limits of this mineralized zone are not yet known. The average grade of the 20 samples collected by Halcones in this area was 4.26 g/t gold.
• Halcones believes there is potential for a larger tonnage surface deposit of vein and stockwork hosted mineralization hosted by the highly fractured rocks associated with fault splays associated with one of the major, continental scale, Atacama Fault Systems in the area.
• Northeast of the higher-grade sampling, there is an area extending approximately 150 meters further to the northeast of the structural break where samples are generally lower grade, however another parallel structure has been identified at the northeast edge of the low-grade sample area and grades appear to be stronger on the northeast side of the second structure there (Figure 2).
• Additional assays are expected to be released as they become available, and the Company is making plans to extend the sampling to a broader area.

Ian Parkinson, CEO and Director, of Halcones:

“We are extremely excited by the results from the first assays at Polaris. In just a few weeks in the field the team has significantly expanded one of the priority target areas in the North Zone. The extensive gold in stockwork is particularly encouraging as it demonstrates the potential for a large-scale bulk tonnage deposit at Polaris. Sampling and mapping continues with the goal to prioritize targets to be drilled later this year. It is rare to see such broad scale gold mineralization at surface. Many of the samples are not obviously mineralized other than the presence of fine stockwork fractures and veinlets that appear to carry the gold.”

About The Current Field Program

The were two main objectives of the current field program.

1) Expand the footprint of the known mineralization in the Northwest corner of the North Zone (see Figure 1)
2) Test and better define the extent of mineralized stockwork as a lower grade bulk tonnage opportunity adjacent to the known vein hosted mineralization.

This first phase of field work successfully expanded the surface area of mineralization (see Figure 2) and confirmed the presence of stockwork hosted gold mineralization at surface.

Sampling previously performed on Polaris identified the Northwest section of the North Zone as a priority area (see Figure 1). In recent field work, Halcones’ geologists increased the density of sampling and expanded the surface footprint of sampling in this priority area (see Figure 2). Halcones’ geologists took a total of 140 samples during the recent field campaign. 96 for which assays have been received, have been compiled in this release of which 22 returned values above 1g/t. The balance will be released shortly.

This sampling program has successfully expanded the surface expression of the work completed previously on Polaris. Additionally, stockwork mineralization has been confirmed over a broader area. The presence of mineralized stockwork over an extensive area supports Halcones’ geologist interpretation that bulk tonnage deposit potential exists at Polaris. Sampling has been limited in certain areas due to the presence of a thin layer of colluvial cover. Sampling programs are being planned to test bedrock below this this cover.

Halcones’ geologists have been working with a geological model that Polaris holds potential for a large scale bulk tonnage open pit operation. The presence of mineralization in stockworks in the wall rocks away from the historically mined, mineralized veins is a crucial component of this model that is present at Polaris. This stockwork is believed to have a similar genesis to the vein hosted mineralization previously exploited by artisanal miners but was never targeted. The stockwork mineralization is not visually obvious due to a general lack of associated sulfide minerals. The 17 known small scale mines in the Project area exploited very high-grade veins with no focus on the stockwork adjacent to the veins.

Figure 1. Polaris Project sampling has identified gold mineralization over a 2.7 km extent in an area that has never been drilled.
https://www.globenewswire.com/NewsRoom/AttachmentNg/1be344bb-8a68-4b8b-a723-214596b07455

Figure 2. Polaris Field Program Results with recent assays represented. The stars are Halcones samples, the dots are samples by the optionors.
https://www.globenewswire.com/NewsRoom/AttachmentNg/8fc24c11-51fd-4443-9b7f-94ed3e298e85

About The Sampling Process

Using a hammer and a rock chisel, a chip sample is carried out uniformly over at least 1 meter sections, ensuring complete collection and homogeneity in order to achieve proper representation of the sample. The sample is collected perpendicular to the dominant strike of the structures and the sample mass must be a minimum of 2 kg. In the event that the outcrop presents some mineralized structure, an independent sample will be taken only from the mineralized structure and an independent sample from the host rock on both sides of the structure. This process is designed to limit bias due to high grading sample collection.

All samples were bagged and sealed on site and delivered directly by the Project Geologist to ANDES ANALITYCAL ASSAY Laboratory in Copiapó, Chile. After sample preparation at ANDES ANALITYCAL ASSAY Laboratory in Copiapó, split pulp samples were shipped to ANDES ANALITYCAL ASSAY in Santiago, Chile for assaying gold by fire assay (AEF_AAS_1E42-FF), and for analyzing 34 other elements, including silver, by four acids (ICP_AES_AR34m1).

ANDES ANALITYCAL ASSAY is an independent laboratory certified with a global quality management system that meets all requirements of International Standards ISO/IEC 17025:2017, includes its own internal quality control samples comprising certified reference materials, blanks, and pulp duplicates.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Mr. David Gower, P.Geo., as defined by National Instrument 43-101 of the Canadian Securities Administrators.

About Halcones Precious Metals Corp.

Halcones is focused on exploring for and developing gold-silver projects in Chile. The Company has a team with a strong background of exploration success in the region.

For further information, please contact:

Vincent Chen
Investor Relations
vincent.chen@halconespm.com
www.halconespreciousmetals.com

Cautionary Note Regarding Forward-looking Information

A qualified person, as defined in National Instrument 43-101, has not done sufficient work on behalf of Halcones to classify any historical grades, production or results reported above as current mineral resources or mineral reserves. The historical data should not be relied upon.

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, regarding the prospectivity of the Project, the mineralization of the Project, the Company’s exploration program, the Company’s ability to explore and develop the Project and the Company’s future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward- looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Halcones, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; ability to successfully integrate the purchased properties; foreign operations risks; and other risks inherent in the mining industry. Although Halcones has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Halcones does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Source

Bitcoin and Ethereum price update

Bitcoin is trading at US$98,841, recording a 0.18 percent increase from its previous close (February 6). The day’s trading range saw a high of US$98,875 and a low of US$95,761.

Meanwhile, Ether is priced at US$2,779.16, marking a 0.40 percent decline over 24 hours. The cryptocurrency reached an intraday high of US$2,792.84 and a low of US$2,669.54.

Altcoin price update

SOL is currently valued at US$200.93, 0.43 percent higher over 24 hours, after hitting a daily high of US$200.93 and a low of US$188.04.

XRP rose to US$2.47, marking a 2.07 percent increase. The cryptocurrency reached an intraday high of US$2.47 and a low of US$2.29.

SUI is trading at US$3.33, a 2.92 percent decline, after a daily high of US$3.43 and a low of US$3.09.

Meanwhile, ADA is down, priced at US$0.7438, reflecting a 0.59 percent decrease over 24 hours. Its highest price on Friday was US$0.7483 and its lowest was US$0.7011.

ETF inflows and outflows

Grayscale Bitcoin Trust (GBTC) is trading at US$30.25, reflecting a 1.45 percent increase over 24 hours.

iShares Bitcoin Trust (IBIT) is priced at US$25.10, down 0.38 percent from the previous trading session. The ETF is trading at a -2.8 percent discount to NAV and holds US$5.8 billion in AUM.

Fidelity Wise Origin Bitcoin Trust (FBTC) is currently at US$24.75, marking a 0.21 percent decrease over 24 hours.

ARK 21Shares Bitcoin ETF (ARKB) is trading at US$28.40, reflecting a 0.62 percent increase from its last close.

Bitwise Bitcoin Strategy Optimum Yield ETF (BITB) is valued at US$22.85, recording a 0.79 percent gain over 24 hours.

Crypto news to know

The European Central Bank is hoping that US President Donald Trump’s support for dollar-pegged cryptocurrencies will accelerate the legislative process for the digital euro.

ECB board members stated that Trump’s stance on stablecoins adds urgency to the EU’s plans, as American-backed payment tools could further entrench U.S. dominance in global finance.

Furthermore, the European Commission introduced digital euro legislation in June 2023, but progress has been slow due to skepticism from lawmakers and the banking sector.

Meanwhile, Trump Media and Technology Group (TMTG) is expanding into crypto finance, taking steps toward launching a bitcoin ETF. The company has applied for trademarks under the Truth.Fi brand, with filings for products such as the ‘Truth.Fi Bitcoin Plus ETF.’

If approved, this would position TMTG as a competitor to major asset managers like BlackRock and Fidelity in the growing market for crypto investment products.