Morning Briefing: Metals Rally as Tudor, Goliath and Tocvan Report New Discoveries

Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Ian Wagner filling in for Trevor Hall this week

It’s Thursday, August 6th. 

Gold and silver raced higher on Wednesday, buoyed by optimism around U.S.–Iran negotiations and a possible reopening of the Strait of Hormuz, which reduced the oil-market inflation premium. With oil already down sharply, Treasury yields fell and the dollar hovered near a six-week low. That combination is highly supportive for non-yielding metals. 

December gold settled at 4305 up more than $150.

September Silver easily pierced the $60 mark to settle at 62.28, up more than $2.

At the time of recording, gold is holding steady but silver is down about 1% to around 61 and ½.  

This episode of Mining Stock Daily is brought to you by…REVIVAL GOLD

Revival Gold is one of the largest pure gold mine developer operating in the United States. The Company is advancing the Mercur Gold Project in Utah and mine permitting preparations and ongoing exploration at the Beartrack-Arnett Gold Project located in Idaho. Revival Gold is listed on the TSX Venture Exchange under the ticker symbol “RVG” and trades on the OTCQX Market under the ticker symbol “RVLGF”. Learn more about the company at revival-dash-gold.com

Here’s what you need to know today. 

TOCVAN VENTURES

Tocvan Ventures reported a significant new gold-silver discovery along the El Mezquite trend at its Gran Pilar Project in Sonora, Mexico. Hole JES-26-155 returned two hundred fifteen metres grading about zero-point-six grams per tonne gold, beginning just thirty-seven metres downhole. The broader interval included an upper zone of nearly eighty-seven metres at zero-point-six grams gold, and a lower zone of seventy metres grading close to zero-point-nine grams.

Higher-grade sections returned up to sixteen grams per tonne gold and fifty-seven grams silver over one-and-a-half metres. The discovery sits about two kilometres east of Tocvan’s planned pilot production facility. Tocvan has now completed more than ten thousand metres of drilling this year, with results from another fifty-five hundred metres still pending.

The company also recently promoted Christopher Gordon from head of corporate development to chief executive officer as Tocvan advances Gran Pilar toward development and pilot production.

Tocvan Ventures trades on the CSE under TOC and OTCQB under TCVNF. NEWS RELEASE

TUDOR GOLD

Tudor Gold discovered a new copper-gold-silver-molybdenum porphyry system at the Perfectstorm Zone within its Treaty Creek Project in British Columbia’s Golden Triangle. Hole PS-26-15 returned nearly eighty-three metres grading zero-point-two-one percent copper and zero-point-two-four grams gold, alongside separate higher-grade gold intervals. Hole PS-26-18 cut sixty-seven metres grading zero-point-two-seven percent copper and zero-point-three-four grams gold. Drilling also confirmed a nearby epithermal system over more than three hundred sixty metres of strike. Both systems remain open. Tudor trades on the TSX Venture under TUD. NEWS RELEASE

ARTEMIS GOLD

Artemis Gold reported record second-quarter results from the Blackwater Mine in British Columbia. The operation produced just over seventy-four thousand ounces of gold, a twenty-percent increase from the previous quarter, as grades, recoveries and mill throughput improved. Gold recoveries reached a record ninety-two percent.

The company generated four hundred thirty-four million Canadian dollars in revenue, adjusted EBITDA of two hundred eighty-five million dollars and operating cash flow of about two hundred eight million dollars. All-in sustaining costs were nine hundred fifty-five U.S. dollars per ounce.

Artemis ended June with approximately eight hundred seventy-nine million Canadian dollars of available liquidity. The company also declared its first quarterly dividend, at five cents per share. Construction of the Phase 1A and EP2 expansions continues, with Blackwater expected to grow into a more than five-hundred-thousand-ounce-per-year operation.

Artemis Gold trades on the TSX Venture under ARTG. NEWS RELEASE

NORTHISLE COPPER AND GOLD

Northisle announced a major resource increase at its North Island Project in British Columbia. Indicated resources now total about 1.2 billion tonnes, containing 10.1 billion pounds of copper equivalent, or 16.2 million ounces of gold equivalent. That represents a thirty-six-percent increase in indicated tonnage, including additions at West Goodspeed, Northwest Expo and Red Dog. The update also increased contained copper, gold, molybdenum and rhenium. The new estimate will support a pre-feasibility study targeted for completion in the first quarter of 2027. Northisle trades on the TSX Venture under NCX and OTCQX under NTCPF. NEWS RELEASE

ERANOVA METALS

EraNova Metals reported a positive preliminary economic assessment for its Adanac Molybdenum Project in northern British Columbia. The study outlines a thirty-thousand-tonne-per-day open-pit operation with a twenty-four-year mine life, producing an average of eleven-point-four million pounds of molybdenum annually. The base case generates an after-tax net present value of about seven hundred fifteen million Canadian dollars and a twenty-three-point-five-percent internal rate of return. Initial capital is estimated at roughly nine hundred fifty-three million dollars. EraNova plans to advance directly toward feasibility. The company trades on the TSX Venture under NOVA and OTCQB under STXPF. NEWS RELEASE

FOUNDERS METALS

Founders Metals reported a high-grade step-out at the Upper Antino target in southeastern Suriname. Hole FR249 cut twenty-eight metres grading fourteen-point-three grams per tonne gold from four hundred thirty-three metres downhole, extending mineralization fifty metres down-dip from an earlier intercept. The hole crossed four stacked shear zones, showing the multi-zone system continues at depth. Management says the strongest interval sits within a gabbro unit that widens downward, creating a larger follow-up target. Founders trades on the TSX Venture under FDR and OTCQX under FDMIF. NEWS RELEASE

THOR EXPLORATIONS

Thor Explorations reported further high-grade gold results beneath the Segilola open pit in Nigeria. Highlights included nineteen-point-four metres grading three grams per tonne gold, five-point-three metres at five-point-seven grams, and three-point-four metres at seven-point-six grams. Drilling has outlined a steeply dipping mineralized shoot extending about four hundred metres below the pit and remaining open. Four company-owned rigs will continue testing the system as Thor evaluates underground development and a possible pit extension. Thor trades on the TSX Venture and AIM under THX. NEWS RELEASE

GOLIATH RESOURCES

Goliath Resources reported initial 2026 assays from the Surebet discovery at its Golddigger Property in British Columbia’s Golden Triangle. Hole GD-26-418 returned sixteen metres grading eight-point-one grams per tonne gold equivalent, including nearly seven metres at eighteen-point-four grams. The results expanded the Bonanza Zone one hundred metres north, while additional drilling extended the Bonanza and Golden Gate zones five hundred forty metres southwest. Both remain open. Goliath has completed nearly twenty thousand metres of a fully funded fifty-thousand-metre program. The company trades on the TSX Venture under GOT and OTCQX under GOTRF. NEWS RELEASE

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