Morning Briefing: Aldebaran Resources Drills Longest Intercept in History of Altar

Good morning and welcome back to the Mining Stock Daily morning briefing. I am Trevor Hall. 

It's Monday, October 5th.

Silver is leading the metals complex today, up just over two percent at $61.66 an ounce. Gold is up about four-tenths of a percent at $4,155, and copper is also moving higher, up roughly nine-tenths of a percent to $6.55 a pound.

On the macro side, Glencore said Friday that its commodity marketing division expects to generate more than $5 billion in profit in 2026, which would make it the best year for the unit since the energy market disruptions that followed Russia's 2022 invasion of Ukraine. The company credited the ongoing conflict involving Iran, which has caused significant volatility in crude oil and natural gas markets and created freight disruptions in the Strait of Hormuz corridor, alongside rising copper and coal prices. 

In mining M&A, China's antitrust regulator has told Anglo American and Teck Resources that it will require commitments to maintain copper concentrate supply to China as a condition for approving their proposed $54 billion merger, according to Reuters. The deal has received regulatory clearance everywhere else it has been reviewed. China processes roughly 60 percent of global copper cathode and is currently experiencing its worst feedstock shortage in decades, which gives Beijing effective veto power over the transaction. The combined entity would account for approximately five percent of global mined copper supply. The deal is expected to close in early 2027 if the parties can reach agreement with Chinese authorities.

We will get to the news from the miners and explorers in a moment, but first a mention of today's sponsor:

Today's episode of Mining Stock Daily is brought to you by…Integra Resources.

Integra is a growing precious metals producer in the Great Basin of the Western United States. Integra is focused on demonstrating profitability and operational excellence at its principal operating asset, the Florida Canyon Mine, located in Nevada. In addition, Integra is committed to advancing its flagship development-stage heap leach projects: the past producing DeLamar Project located in southwestern Idaho, and the Nevada North Project located in western Nevada. Learn more about the business and their high industry standards over at integraresources.com

Here's what you need to know today.

Aldebaran Resources has drilled the longest intercept in the history of the Altar copper-gold porphyry project in San Juan, Argentina, with a single hole returning 1,728.9 metres averaging 0.45 percent copper equivalent, including a higher-grade interval of 756 metres at 0.68 percent copper equivalent, or 0.61 percent copper. Altar is one of the largest undeveloped porphyry copper-gold systems in South America. Aldebaran Resources trades on the TSX Venture Exchange as ALDE. NEWS RELEASE

Argenta Silver has reported drill results from two separate targets at its silver project, with the resource expansion drilling area returning 1,599 grams per tonne silver over 4.0 metres, including 2,780 grams per tonne silver over 2.0 metres, among the highest-grade silver intersections the company has reported. A separate hole at the company's gold-copper target returned 0.45 grams per tonne gold and 0.19 percent copper over 46.0 metres, demonstrating polymetallic potential across the property. Argenta Silver trades on the TSX Venture Exchange as AGAG. NEWS RELEASE

Onyx Gold has confirmed a new sediment-hosted gold zone at the Flipper target on its Munro-Croesus property 75 kilometres east of Timmins, Ontario, with a six-hole first-pass program returning broad gold mineralization three kilometres south of the company's Argus Gold System. The best hole, MC26-277, intersected 0.7 grams per tonne gold over 46.7 metres, including 4.0 grams per tonne over 5.0 metres and 13.5 grams per tonne over 1.0 metre, while hole MC26-284 returned 4.1 grams per tonne over 3.0 metres and 0.3 grams per tonne over 35.0 metres. The results open an interpreted multi-kilometre structural corridor along the Argus Fault, and the company says the Flipper zone demonstrates that the sedimentary package south of Argus can host broad gold systems at the district scale. Onyx Gold trades on the TSX Venture Exchange as ONYX and on the OTCQX as ONXGF. NEWS RELEASE

Thunder Gold has reported a seventh consecutive infill drill hole at the Bench Target on its Tower Mountain property 40 kilometres west of Thunder Bay, Ontario, with hole TM26-218 returning 298.5 metres averaging 0.409 grams per tonne gold from 100.5 metres depth and terminating in 36.0 metres at 0.715 grams per tonne. Every infill hole drilled to date has returned continuous mineralization across the full width of the Bench target, and the company notes that actual drilled grades are running approximately 10 percent above the grades predicted by the January 2026 mineral resource model, which estimated 514,000 indicated ounces and 3.05 million inferred ounces. Thunder Gold trades on the TSX Venture Exchange as TGOL and on the OTCQB as TGOLF. NEWS RELEASE

Heliostar Metals has announced that its shares will begin trading on the Toronto Stock Exchange on October 7th, graduating from the TSX Venture Exchange with the ticker HSTR unchanged. Heliostar has set a goal of reaching 500,000 ounces of annual gold production by the end of the decade. Heliostar Metals currently trades on the TSX Venture Exchange as HSTR and on the OTCQX as HSTXF, and will graduate to the Toronto Stock Exchange as HSTR on October 7th. NEWS RELEASE

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That's it for today everyone. Have a great day. Stay safe.