Exploration Expansion Targets High-Grade Copper Potential in Nevada

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* Disclosures for the quotes from the Ron Struthers newsletter published on September 25, 2024

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Giant Mining Corp. (CSE: BFG; OTC:BFGFF; FWB:YW5) announced the expansion of its surface exploration program at the Majuba Hill copper-silver deposit in Pershing County, Nevada. The expanded exploration will focus on high-grade copper-bearing breccia zones by leveraging past and ongoing drilling data. High-grade mineralization was confirmed from core hole MHB-30, which intersected a significant copper-bearing breccia zone. The results from MHB-30 showed 218 feet (66.4 meters) at 1.35% copper and 73.4 grams per tonne (g/t) silver. There is also a high-grade segment of 74 feet (22.6 meters) at 2.6% copper and 30.1 g/t silver.

Copper-bearing breccia zones in Majuba Hill are known for their economic potential, as breccias are common in large-scale copper porphyry deposits. The geology features supergene-enriched and primary-hypogene copper mineralization. These minerals include azurite, malachite, chalcocite, and bornite, which occur within breccias and intrusive rhyolite fragments. The exploration program includes surface sampling and mapping efforts in the magmatic-hydrothermal corridors. The aim is to define additional high-grade zones for drilling in 2024. 

David Greenway, President and CEO of Giant Mining, emphasized the strategic significance in a quote to Streetwise Reports, saying, "Other examples of significant copper-bearing breccia zones include the Resolution Copper Project in Arizona, a joint venture between Rio Tinto (55%) and BHP (45%). This enormous deposit, estimated to contain billions in copper reserves, demonstrates the commercial success possible with these formations. In addition, Chile's Escondida Mine — a joint venture between BHP (57.5%), Rio Tinto (30%), JECO Corporation (10%), and JECO 2 (2.5%) — is one of the world's largest and most valuable copper mines and serves as a global benchmark for copper production."

A Look At Today's Copper Mining Sector 

Copper has remained a critical component in global markets, as prices showed a steady increase in 2024. On October 18, Jeffrey Christian of CPM Group discussed copper's long-term prospects in a video presentation. He detailed how the shift from fears of a recession to expectations of economic resilience led to stronger demand for copper, especially from fabricators and investors. Christian explained, "The energy transition and the electrification of things . . .  will require more copper." He addressed potential supply constraints, noting regulatory and capital-related challenges that could hinder mining expansion. Despite these obstacles, he expressed confidence in a positive outlook, stating, "Our expectation is . . . higher prices in 2025 and 2026."

An October 25 Mining Weekly report shared insights from Goldman Sachs, which raised its 2025 copper price forecast to US$10,160 per ton. The article cited the potential for demand in China after recent stimulus measures. The investment bank commented on the impact of China's fiscal initiatives, "The estimated China GDP boost to prices is significantly larger for metals than for oil and coal largely because of China's dominant share in global metals demand." The forecast underlined the potential for increased demand from Chinese infrastructure and equipment upgrade programs. However, Goldman also pointed to policy risks, with "upside risk from potential further stimulus but downside risk from any potential rise in US-China trade tensions."

On October 28, USA Today reported that copper traded at US$4.36 per pound, marking a year-to-date rise of 12.03%. The publication highlighted copper's significance in various industries, including electrical wiring, construction, and emerging technologies like electric vehicles (EVs). The transition to clean energy has been a substantial factor influencing demand. "The move toward cleaner energy sources could increase the demand for copper," the report emphasized, noting the metal's role in the electrification of infrastructure and EV manufacturing.

Some Giant Catalysts

According to the company's October 2024 investor presentation, several catalysts are driving Giant Mining's momentum. The ongoing exploration targets the growing demand for copper fueled by the electric vehicle (EV) sector, where each EV requires approximately 183 pounds of copper. The Majuba Hill project is strategically located in a mining-friendly region with excellent infrastructure and historical production.

The 2024 exploration program builds on multi-phase drill campaigns from 2020 to 2022, where deeper sulfide mineralization was identified. The company's commitment to advancing Majuba Hill is underscored by plans for infill and expansion drilling. The target is 50 to 100 million tonnes of copper with grades between 0.15% and 0.30%, as highlighted in its NI 43-101 technical report.

Giant Mining is also positioning itself as a critical contributor to the EV and renewable energy supply chain. As stated in the investor presentation, "Investing in copper resource development not only supports the burgeoning EV market but also creates significant economic opportunities."

What Experts Are Saying...

*Ron Struthers from Ron's Substack shared a positive perspective on Giant Mining Corp. in his October 31, 2024, analysis, highlighting the company's undervaluation and growth potential.

Struthers mentioned, "There are only 23.5 million shares outstanding, and at 18 cents, the valuation is only $4.2 million. Ridiculously cheap for the property BFG has." He emphasized the favorable exploration results from the Majuba Hill copper-silver deposit in Nevada, pointing to promising high-grade copper findings. "The news also had a number of graphics . . . This is a strong mineralized system," he noted, expecting further positive drill results. Struthers recommended a "buy" rating for Giant Mining, remarking on the company's potential and stating, "In a year from now, we are going to look back and wish we bought more."

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$4.7 million.

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.