Morning Briefing: "2 or 3 More Weeks to Finish the Job"
Good morning and welcome back to the Mining Stock Daily morning briefing. This is Trevor Hall.
It's Thursday, April 2.
Metals are pulling back this morning after a strong run. Gold front month futures are trading near $4,631 an ounce, and silver is down to around $70.53. Brent crude is surging — up roughly 8% to around $109 a barrel. U.S. equity futures are under pressure, down more than 1.5% in pre-market trading.
The driver across all of these moves is President Trump's address to the nation last night, where he told the American public that the United States will remain in the Gulf for another two to three weeks to finish what it set out to do. That language — staying the course rather than signaling a near-term exit — caught markets off guard after earlier optimism that a resolution with Iran was close. The reassertion of U.S. military commitment has sent oil sharply higher on renewed supply risk, weighed on equities as risk appetite pulls back, and taken some of the safe-haven bid out of gold as investors reassess the timeline. That said, the broader structural case for gold — central bank demand, dollar weakness, and persistent geopolitical risk — remains firmly intact, and any escalation from here would likely bring that bid back in a hurry.
We’ll get to the news from the miners and explorers in just a moment, but first a word about today’s sponsor.
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-gold.com
And here's what you need to know this morning…..
First Majestic Silver has announced a $75 million investment plan to restart its Jerritt Canyon Gold Mine in Nevada, targeting a production restart in the second half of 2027. The capital will fund underground development, plant upgrades, exploration drilling, a prefeasibility study by Stantec due in Q4 2026, and workforce build-out across the Smith and SSX underground mines. Jerritt Canyon was placed on care and maintenance in early 2023 when gold was trading between $1,600 and $1,900 an ounce — a very different environment than where we sit today. The project hosts 4.1 million measured and indicated ounces of gold plus another 3.7 million inferred, making it one of the more significant dormant gold assets in the United States (NYSE/TSX: AG). News Release
1911 Gold has reported additional underground delineation results from the Hinge Zone at True North in Manitoba, completing the drill program on the V-810 vein at Level 16 — 695 metres below surface. The best hole, UG16-26-038, returned 9.51 grams per tonne gold over 3.50 metres including 30.70 g/t over 0.60 metres, with additional standout intercepts of 12.00 g/t over 1.00 metre and 6.71 g/t over 2.00 metres from other holes. Importantly, the results confirm continuity of gold mineralization within the V-810 vein as outlined in the PEA mine plan for the early years of mining, and the company now plans additional drilling to test the extension of that vein between the current resource and Level 16, 25 metres down plunge. With a production restart targeted for the first half of 2027, each delineation campaign that tightens the resource gives the company greater confidence in the mine plan ahead of test mining activities later this year (TSX-V: AUMB). News Release
Kingfisher Metals has released a geophysical dataset update from the Hank copper-gold discovery within its 933-square-kilometre HWY 37 Project in British Columbia's Golden Triangle, with new MMT and magnetic survey inversions supporting a porphyry copper-gold target footprint approximately 3.5 by 4.4 kilometres. DC-resistivity results highlight a substantial low-resistivity anomaly interpreted as hydrothermal clay alteration associated with the Hank system, while petrographic analysis from drill hole HW-25-011 confirms high fertility indicators including bornite and tennantite — copper minerals associated with high-grade porphyry centres — alongside evidence of magnetite destruction from hydrothermal alteration. The Hank discovery has now produced intercepts including 889 metres of 0.47% copper equivalent, and the expanding geophysical footprint suggests the system's full dimensions have yet to be defined (TSX-V: KFR). News Release
Marimaca Copper has released consolidated silver assay results from drilling at its Pampa Medina deposit in Chile's Antofagasta Region, revealing substantial silver grades running alongside the copper throughout both oxide and sulphide zones. Highlights included 6m of 11.98% Cu and 82.0 g/t Ag from 594m downhole in HOle 13, and 18m of 5.11% Cu and 53.4 g/t Ag from 320m within 102m of 1.20% Cu and 12.2 g/t Ag from 250m, in hole 1. The silver component adds meaningful co-product value to a deposit that already demonstrated its scale through a 600-metre westward step-out in recent drilling. Marimaca is now scaling Pampa Medina exploration to 10 drill rigs and 100,000 metres for 2026, with a DFS on the main oxide deposit still advancing in parallel (TSX: MARI). News Release
Dryden Gold has announced the discovery of three new high-grade gold zones at the Gold Rock Camp in northwestern Ontario, with the headline intercept returning 4.25 metres grading 32.87 grams per tonne gold, including 0.50 metres of 252.00 grams per tonne. Three separate zones identified in a single campaign is a meaningful result for a property where the company has been systematically expanding the Elora Gold System, and high-grade hits like these demonstrate that Gold Rock continues to deliver at depth and along strike. Dryden is fully funded for a 32,000-metre drill program in 2026 and 2027 backed in part by strategic investor Centerra Gold. (TSX-V: DRY). News Release
Elemental Royalty commences trading on the Toronto Stock Exchange today, graduating from the TSX Venture Exchange — a milestone that reflects the company's growth into a billion-dollar mid-tier streaming and royalty platform with 16 producing assets and more than 200 royalties globally. The uplisting broadens Elemental's institutional investor reach at exactly the right moment, with the company having posted $49.2 million in revenue in 2025 and recently declaring its inaugural annual dividend of $0.12 per share. (TSX/NASDAQ: ELE). News Release
Pirate Gold has provided a Crippleback Lake drilling update from within its Treasure Island Project in Newfoundland, with two holes reporting encouraging alteration signatures — PGC-26-058 hitting vuggy silicified mineralization near bedrock surface with advanced argillic alteration and strong pyrite, and PGC-26-064 intersecting a broad zone of the same from 120 to 300 metres downhole. Those are the hallmarks of an epithermal gold system and keep Crippleback in play as a discovery target alongside the high-grade Moosehead program already underway. Assay results from Crippleback are pending. The company also appointed Natalia Samartseva as CFO, effective April 1, bringing over 15 years of public company financial experience to the team. (TSX-V: YARR). News Release
Magna Mining has filed the NI 43-101 technical report on SEDAR+ for the McCreedy West Mine, formalizing the initial mineral reserve estimate announced in February and completing a key regulatory milestone ahead of continued financing discussions. McCreedy West has Probable Mineral Reserves of 987,000 tonnes at 1.59% Cu, 0.32% Ni, 0.01% Co, 1.15 g/t Pt, 1.23 g/t Pd, 0.32 g/t Au, 6.65 g/t Ag. (TSX-V: NICU). News Release
Sticking with today's sponsor — Revival Gold has consolidated 100% ownership of its Mercur Gold Project in Utah by exercising its option to acquire Barrick Mining's remaining interest, bringing the full 7,200-hectare Carlin-style land package under single control for the first time. The consolidation clears the path to an accelerated development timeline targeting a construction decision in 2028 and production in 2029, with 16,000 metres of drilling, environmental baseline work, and a pre-feasibility study all planned for this year. (TSX-V: RVG). News Release
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That's it for today everyone. Have a great day. Stay safe.
The information presented should not be considered investment advice. Mining Stock Daily and its affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein. Please do your own research or speak with a licensed financial representative before making any investment decisions.