Morning Briefing: Ceasefire Signals Cool Gold as Drill Results Heat Up

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

It's Tuesday, April 15th.

Gold pulled back from recent highs on Wednesday morning as the U.S. dollar firmed and investors weighed hopes for a ceasefire in the U.S.-Iran war. Spot gold slipped about 0.4% to roughly $4,821 an ounce, easing from one-month highs, while gold futures declined about 0.2% to just under $4,844.

The retreat comes after a strong week for the metal. Spot prices remain up about 1.6% over the past seven days, reflecting some re-emerging risk appetite as diplomatic signals suggest the U.S. and Iran may be approaching a resolution to the conflict that began in late February.

The backdrop matters for gold investors. Throughout March, the war drove a spike in oil prices, fueling fears of inflation and potential rate hikes by global central banks — a headwind for non-yielding metals. Meanwhile, the dollar had strengthened as investors viewed the U.S., a net energy exporter, as broadly insulated from disruptions to oil flows through the Strait of Hormuz.

President Trump told Fox News the conflict is "close to over," and the New York Post reported he expects ceasefire talks to resume within days. The U.S. and Iran are currently under a two-week ceasefire set to expire April 21. Whether that holds — or extends — looks like the key variable for gold in the near term.

Silver is up about 30 cents to 79.84 front month future with an eye towards that key 80-dollar level.

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…Equinox Gold

Equinox Gold is a growth-focused gold producer operating mines across the Americas. With cornerstone assets like the Greenstone Mine in Ontario and the Valentine Gold Project in Newfoundland & Labrador, Equinox is advancing a new generation of large-scale, long-life gold operations. Learn more about their portfolio and development pipeline at equinoxgold.com.

And here's what you need to know this morning…..

Sitka Gold confirmed significant tungsten mineralization within its Rhosgobel gold deposit at the RC Gold Project in the Yukon. Approximately 5,500 samples from 33 drill holes were tested for tungsten, with results demonstrating mineralization across an 850-metre strike length. Top intervals included 128 metres grading 0.115% tungsten trioxide. The deposit already hosts an inferred mineral resource of 2.25 million ounces of gold, and initial metallurgical work is underway to assess tungsten recovery potential. CEO Cor Coe noted that tungsten supply is structurally constrained globally, adding potential by-product value. Sitka trades on the TSX Venture under SIG and the OTCQX under SITKF.  NEWS RELEASE

Talisker Resources reported underground development results from the Mustang Mine at its Bralorne Gold Project in British Columbia. On the newly established 1045 Level, the company defined a continuous 60-metre strike length along the BK Vein averaging 27 g/t gold across about a metre of width, with 384 visible gold occurrences across 17 of 25 faces sampled — the headline result of the release. On the 1060 Level, 15 metres beyond previous workings, individual face samples included 866 g/t over half a metre within a broader interval of 254 g/t over nearly 3 metres. CEO Terry Harbort called the results strong support for upcoming stope extraction. Talisker trades on the TSX under TSK and the OTCQB under TSKFF.  NEWS RELEASE

Tocvan Ventures announced the mobilization of additional heavy equipment — a dozer, excavator, and haul truck — to its Gran Pilar Gold-Silver Project in Sonora, Mexico, aimed at accelerating trenching and pilot-scale mine development. The company's fully funded 20,000-metre drill program continues with 2 rigs operating, and bulk test material has been submitted to the processing plant constructor and an independent lab for pilot optimization. Surface sampling at the Central Magnetic Trend returned up to 1.2 g/t gold with elevated pathfinder elements. Nine exploration holes are awaiting assay results. Tocvan trades on the CSE under TOC and the OTCQB under TCVNF. NEWS RELEASE

Seabridge Gold reported a maiden inferred mineral resource of 9.2 million ounces of gold, 28.3 million ounces of silver, and 923 million pounds of copper at Snip North — its second deposit at the Iskut Project in British Columbia's Golden Triangle. The estimate covers roughly 606 million tonnes grading 0.47 g/t gold and remains open in multiple directions. The Iskut Project is being renamed the Bronson Corridor Project. The deposit is interpreted as wall rock expression of an undiscovered copper-gold porphyry source. CEO Rudi Fronk said the resource estimate reminds him of the first estimate at KSM nearly 20 years ago. Seabridge trades on the TSX under SEA and the NYSE under SA. - NEWS RELEASE

Trident Resources hit nearly 39 metres of 4.61 g/t gold — including 5.48 g/t over 26 metres — in hole CL26028 at the Contact Lake Gold Project in northern Saskatchewan, discovered over 200 metres northeast of last year's high-grade drilling. A separate hole, CL26025, added 11.97 g/t over nearly 11 metres from depth. All 9 holes in the first batch intersected gold, prompting the company to expand the program from 10,000 to 13,000 metres. Trident is fully funded for aggressive drilling through summer and fall. Trident trades on the TSX Venture under ROCK and the OTCQB under TRDTF.   NEWS RELEASE

Aztec Minerals reported a headline intersection of 107.9 metres averaging 0.62 g/t gold and 24.8 g/t silver from the Westside area at its Tombstone Project in southeastern Arizona. Step-out drilling also returned 112.5 metres at 0.48 g/t gold and 12.6 g/t silver from the Contention zone. Results came from 14 of 59 RC holes completed in the 17,000-metre 2025-2026 program, with 9 holes still pending. All 14 holes intersected mineralization. CEO Simon Dyakowski said the program is now testing new targets over 1 kilometre from the historic open pit. Aztec trades on the TSX Venture under AZT and the OTCQB under AZZTF. NEWS RELEASE

GoGold Resources reported Q2 2026 production from its Parral tailings mine in Chihuahua, Mexico for the period ending March 31, 2026. The company produced approximately 230,000 silver ounces and 2,549 gold ounces, totalling nearly 395,000 silver equivalent ounces for the quarter. Silver production rose 13% from the prior quarter, though overall silver-equivalent output dipped due to silver's strengthening price relative to gold. Cash balance increased by approximately $16 million to $261 million USD. CEO Brad Langille noted the company is fully financed for its upcoming Los Ricos South mine build, with an estimated initial capital of $227 million. GoGold trades on the TSX under GGD and the OTCQX under GLGDF.  NEWS RELEASE

The Mining Stock Daily morning briefing is produced by Clear Commodity Network. It is distributed throughout the world through your podcast network of choice, and at Clear Commodity Network.

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.