Morning Briefing: Cascadia Minerals Extends Mineralization with New Drill Results

Good morning and welcome back to the Mining Stock Daily morning briefing. I am Michael McCrae filling in for Trevor Hall. 

It's Thursday, October 1st.

Gold is up six-tenths of a percent at $4,184 an ounce, and silver is up just over one percent at $61.09. Copper is pulling back slightly to $6.52, off about six-tenths of a percent. And Copper is a big part of the headline mining news today.

First Quantum Minerals saw its shares fall sharply yesterday after a Panamanian ministerial commission recommended to President Mulino that the Cobre Panama mine be restarted rather than closed immediately. The panel proposed negotiating a restart that would generate revenue to fund an eventual orderly closure at no cost to the state. According to the commission's report, the 2023 Supreme Court ruling that found the mining contract unconstitutional may not have prohibited mining activity itself, potentially leaving room for a new legal framework. Any deal would require a definitive closure date with no renewal and resolution of roughly $27 billion in pending international arbitration. First Quantum said it would engage constructively and in good faith.

At the world's largest copper mine, supervisors are heading toward a potential work stoppage. The 1,020-member supervisors union at BHP's Escondida mine in Chile voted 95 percent in favor of strike action after rejecting the company's final contract offer, with members saying the offer showed a complete disregard for their contribution to one of the most profitable mining operations in the world. Under Chilean law, the parties must now enter a mandatory five-day government-led mediation period before a strike can legally begin. Escondida produces approximately 1.5 percent of global copper supply.

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…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. 

Cascadia Minerals has reported three step-out drill holes from the Zone 2000S extension at its Carmacks copper-gold project in central Yukon, with results the company describes as among the best grades ever drilled on the property. Hole CD-26-058 intersected 75.55 metres at 1.19 percent copper and 0.97 grams per tonne gold for 2.18 percent copper equivalent, including 48.66 metres at 3.03 percent copper equivalent. Two additional holes extended the zone 142 metres to the northeast and to approximately 430 metres below surface, the deepest point tested in this part of the deposit, with mineralization remaining open in multiple directions. Together the three holes have confirmed that Zone 2000S extends at least 300 metres beyond the 2022 resource boundary, effectively doubling the zone's drilled strike length toward Zone 147, located 600 metres to the north. Cascadia Minerals trades on the TSX Venture Exchange as CAM and on the OTCQB as CAMNF. NEWS RELASE

Scorpio Gold has announced the start of the first systematic diamond drill program at the April Fool target at its Manhattan Project in Nevada's Walker Lane Trend, following a sampling campaign that returned 47 of 48 grab samples with detectable gold and a peak result of 59 grams per tonne. The company says April Fool shares the same geological setting as its Zanzibar Trend, where a structural reinterpretation earlier in 2026 delivered high-grade intercepts including 3.14 grams per tonne over 49.62 metres. A drill rig mobilized to site this week and first assay results are expected by the end of October. Scorpio Gold trades on the NASDAQ Capital Market and the TSX Venture Exchange as SGLD and on the OTCQB as SRCRF. NEWS RELEASE

Gold Hart Copper has announced assay results from its fourth and final diamond drill hole at the Tolita project in Chile's Vicuna District, and despite the hole showing significantly less surface veining than prior holes, it returned more than 340 metres of gold and copper porphyry-style mineralization from the 551-metre hole, including 108 metres at 0.21 grams per tonne gold equivalent from surface and a second interval of 231 metres at 0.16 grams per tonne. Three of the four holes have now returned at least 300 metres of mineralization and all four have returned more than 100 metres, with only five percent of the Tolita anomaly tested by drilling. The company says it has received interest from potential partners for the next phase of work. The company has also applied for a mining concession at Copioso, a historic gold, copper and silver mine in Chile where positive confirmations have been received from Chilean courts, and says it has already begun planning exploration scenarios for the asset. Gold Hart Copper trades on the TSX Venture Exchange as HART. NEWS RELEASE

DPM Metals has issued an update following a Constitutional Court ruling in Bosnia and Herzegovina on September 30th that found the company's Concession Agreement for the Vareš silver-gold-zinc mine was not in conformity with the constitution, as Federation and cantonal authorities lacked the authority to deal with state-owned forest land without the involvement of the federal Attorney General. The decision does not terminate or suspend the concession, and Vareš continues to operate normally. The court has set a six-month period for authorities to bring the affected acts into conformity, and DPM said it will engage constructively throughout the process. DPM Metals trades on the Toronto Stock Exchange and the Australian Securities Exchange as DPM.NEWS RELEASE

Alaska Silver has formalized its leadership transition today, with Aaron Schutt assuming the role of President and Chief Executive Officer effective October 1st. Schutt is an Alaska Native who previously served as President and CEO of Doyon Limited, one of Alaska's largest regional corporations with more than $500 million in annual revenue, and joined the Alaska Silver board in May 2026. He succeeds co-founder Kit Marrs, who becomes Executive Chairman. The company is advancing the Illinois Creek Project in western Alaska, host to an inferred 75 million ounce silver equivalent resource at the Waterpump Creek zone. Alaska Silver trades on the TSX Venture Exchange as WAM and on the OTCQX as WAMFF. NEWS RELEASE

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