Morning Briefing: Apex Critical Metals Drills 124m of 1.94% REO
Good morning and welcome back to the Mining Stock Daily morning briefing.
It's Tuesday, April 28.
Metals are under pressure this morning. Gold is down 1.75% to $4,611 an ounce, silver is off 3% to $73.30, and copper is down 1.75% to $5.97 a pound. Brent crude is moving in the opposite direction, up nearly 3% to $111.47 a barrel. The metals complex is giving back a portion of the gains built up over the past several weeks. Gold has pulled back sharply from the $4,700 level it was holding yesterday, and silver is leading the decline with a 3% drop — a reminder of how quickly silver can move in both directions. The divergence with crude oil is notable. Brent pushing toward $112 while gold and silver sell off suggests the market is not reading this as a broad risk-off session, but rather a rotation or profit-taking move specific to the metals trade. The Strait of Hormuz situation continues to underpin crude, and with questions still circulating about whether the ceasefire framework holds, energy markets remain on edge. For gold, the pullback puts the $4,600 level in focus as near-term support.
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... Vizsla Silver
Vizsla Silver is focused on becoming one of the world’s largest single-asset silver producers through the exploration and development of the 100% owned Panuco-Copala silver-gold district in Sinaloa, Mexico. The company consolidated this historic district in 2019 and has now completed over 375,000 meters of drilling. The company has the world's largest, undeveloped high-grade silver resource. Learn more at https://vizslasilvercorp.com/
And here's what you need to know this morning…..
Blue Moon Metals has confirmed a final investment decision to construct the Nussir copper project in northern Norway, announced an intention to construct its Springer tungsten mine in Nevada, and launched a concurrent C$150 million bought deal equity offering. The Nussir FID follows a feasibility study released earlier this month outlining a 13-year underground mine at 6,000 tonnes per day, with average annual copper equivalent production of 19,000 tonnes, an after-tax NPV of $235 million at an 8% discount rate, a 19% IRR, and initial capital of $184 million. The EPC contract award is targeted for May 2026, with hot commissioning set for August 2027 and first production in December 2027. On Springer, the board has initiated planning for a potential restart of the tungsten production facility in Nevada, which includes an existing shaft, underground workings, and a 1,200-ton-per-day mill. Net proceeds from the C$150 million offering will fund Nussir construction, Springer development, and general corporate purposes, with the financing expected to close around May 6 (TSX-V: MOON). News Release
Apex Critical Metals has reported new drill results from the Rift Rare Earth Project within the Elk Creek Carbonatite Complex, with hole RIFT26-003 intersecting a broader zone of 124 metres at 1.94% total rare earth oxides, including a higher-grade core of 23.7 metres at 4.02% REO — with 10 individual samples exceeding 4% REO to a maximum of 6.54%. The result extends mineralization approximately 120 metres south of the previous drill hole, and the zone remains open in all directions (CSE: APXC). News Release
Scorpio Gold has released new Phase Two drill results from the Manhattan District in Nevada, with the headline hole returning 16.49 metres at 2.74 grams per tonne gold from 45.45 metres along the Zanzibar Trend. The release covers three step-out holes extending a zone that splays off the main Reliance trend — a structure first hit last year with 49.62 metres at 3.14 grams per tonne. Scorpio is running a 50,000-metre program at Manhattan this year (TSX-V: SGN). News Release
Revival Gold has kicked off a 16,000-metre drill program at the Mercur Gold Project in Utah — 12,000 metres targeting resource conversion for PFS mine planning and 4,000 metres for geotechnical and hydrological work. A 2025 PEA outlined an open-pit heap leach operation at 100,000 ounces per year over 10 years with an after-tax NPV of $295 million and a 27% IRR at $2,175 gold. The PFS is targeted for Q1 2027 (TSX-V: RVG). News Release
Barrick Mining is advancing the IPO of its North American gold assets, targeting a listing by end of 2026, and has announced the executive team for the new standalone entity. The North American portfolio includes the Carlin, Cortez, and Turquoise Ridge operations in Nevada, Pueblo Viejo in the Dominican Republic, and the Fourmile project, with a primary NYSE listing and secondary TSX listing planned. Tim Cribb has been named COO, Wessel Hamman as CFO, and Joe Heckendorn as CLO. At the parent level, Mark Hill has been confirmed as permanent CEO of Barrick Mining (NYSE: B). News Release
Luca Mining has intersected 118 metres grading 2.5 grams per tonne gold, 78.0 grams per tonne silver, 0.8% copper, 0.6% lead, and 2.0% zinc at the Largo Norte Zone at its Campo Morado mine in Guerrero, Mexico. The result improves on a hole earlier this year that returned 136 metres at 1.58 grams per tonne gold in the same zone. Largo Norte is a shallowly dipping VMS body 20 to 60 metres thick, and follow-up drilling is focused on resource definition (TSX-V: LUCA). News Release
American Pacific Mining reports it is nearing completion of an underground LiDAR survey at the Madison Copper-Gold Project in Montana, a step that will generate a detailed 3D model of the existing underground workings to inform drill targeting ahead of the next drill program. Madison has been the focus of significant technical work in 2026, including underground geological mapping, geophysical surveys, and new structural discoveries that have improved the company's understanding of the porphyry and carbonate replacement deposit system at the project (CSE: USGD). News Release
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That's it for today everyone. Have a great day. Stay safe.
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