Major Milestone Achieved for Nevada Copper Project

Source: Streetwise Reports 06/03/2024

Giant Mining Corp. BFGFF announced the approval of its Reclamation Cost Estimate by the State of Nevada, Department of Conservation & Natural Resources, for the Majuba Hill Porphyry Copper Deposit ("Majuba Hill") located in Pershing County, Nevada. This significant milestone allows the company to proceed with its exploration and development activities with confidence.

The Reclamation Permitting process, completed with the Bureau of Mining Regulation and Reclamation (BMRR), grants Giant Mining approval for up to 25 acres of disturbance. The company has paid a reclamation bond of US$240,762.00, ensuring that adequate funds are available for reclamation activities on all disturbances on private land at the Majuba Hill Exploration Project.

David Greenway, President and CEO of Giant Mining Corp., commented on this achievement, stating, "The approval of our reclamation bond is a significant milestone for the Majuba Hill Exploration Project. It underscores our commitment to responsible mining practices and our dedication to environmental stewardship. We are excited to advance our exploration activities in one of Nevada's most promising mining districts."

The Past, Present, and Future of Copper

The rise of copper use is well documented.

As Reuters wrote on May 20, "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. As of 2022, China was the largest consumer of refined copper, with usage of 14.7 million tons . . . Copper mine production totaled 22.4 million tons in 2023, with Chile, Peru, and Democratic Republic of Congo (DRC) being the largest producers. Production of refined copper, including secondary or scrap, totaled 26.5 million tons in 2023, with China being the largest producer."

The sector's growth from then to now appears similar to projections moving forward.

In a Credendo report on May 27, the site postulated, "Copper demand could double by 2035. The main drivers are the revival in demand from Chinese manufacturers, the rebound of the global economy, and the boom in investments in green technologies (e.g., renewables and electric vehicles) and in AI technologies."

Catalysts

With the reclamation bond secured, Giant Mining Corp. is set to embark on a drilling program that includes approximately 3,900 meters (12,800 feet) of reverse circulation (RC) drilling in 16 drill holes, along with 488 meters (1,600 feet) of core drilling within the current exploration target. Additionally, the company is contemplating two deep core holes, each reaching a depth of up to 3,500 feet (1,066 meters), to thoroughly investigate the mineralization.

Technical Analyst Clive Maund said in 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."

The company has also identified a promising exploration corridor, integrating insights from recent and historical drilling, geological mapping, geochemical analysis, and geophysical surveys. Drilling has revealed a substantial oxide zone that outcrops at the surface and extends to depths of up to 1,804 feet (550 meters).

This year, Giant Mining is preparing for an exploration phase, aiming to extensively drill to explore the vertical and lateral extents of copper mineralization. These enhanced exploration efforts are crucial in delineating the full potential of the Majuba Hill Project and guiding its future development.

Funds from a recently concluded private placement will be directed toward advancing the company's exploration and development initiatives. In alignment with the June 2023 NI43-101 report recommendations, Giant Mining has committed to drilling 16 RC holes and two shallow core holes designed to infill and expand the mineral potential. Additionally, two deep core holes, each reaching a depth of 3,500 feet (1,066 meters), will significantly enhance the company's resource evaluation efforts by accurately determining the vertical extent of the mineralization.

Furthermore, Giant Mining Corp. is launching a sequential copper analysis program to improve understanding of the ore's characteristics and processing efficiencies at Majuba Hill. This program will utilize an extensive library of existing pulps and cores from earlier drilling to provide a foundational metallurgical understanding of the copper deposit. By advancing this metallurgical study, the company aims to deepen its understanding of the Majuba Hill orebody, leading to more informed decisions about the project's development. This initiative ensures that any future extraction process is efficient and environmentally responsible, aligning with Giant Mining's commitment to sustainable mining practices.

Expert: Giant Mining a Strong Buy

In a May 13 report, Technical Analyst Clive Maund had high hopes for Giant Mining's prospects, writing, "This has worked out very well for us so far. Right after it was recommended on the site, it broke out of the small Cup and Handle base that we had correctly identified and forged ahead so that by Friday's close, it had doubled."

Then, Maund gave the company a Strong Buy stamp of approval, "With a strong bull market getting underway in copper, 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$18.7 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 BFGF.F, 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.