Morning Briefing: Collective Confirms Porphyry System Discovery at San Antonio

Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.

It's Tuesday August 26th.

The dollar rebounded off critical support yesterday. One would think the previous metals complex would have been battered and bruised on the move, but that certainly was not the case. Gold was relatively flat on the day while silver fell about 1%. The gold miners per the GDX and GDXJ attempted to make new highs, but could not close the day at those levels. This morning, the dollar is once again seeing pressure and the metals are rising. Yesterday The U.S. Geological Survey (USGS) released a draft 2025 List of Critical Minerals which proposes adding six new commodities—potash, silicon, copper, silver, rhenium, and lead—and removing two (arsenic and tellurium) from the prior list. The draft uniquely uses an economic effects–based model to rank and prioritize additions and removals, offering a more quantitative and policy-relevant framework compared to the mixed qualitative‑quantitative method used in 2022. 

We’ll get to the news from the miners and explorers here in a moment, but first a quick 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….. 

Collective Mining reported new assay results from the San Antonio Project's Pound target which confirms a discovery of a new porphyry system over a minimum strike length of 450m. Hole 18 was drilled vertically into the system and returned 172.4m of 1.88 g/t AuEq and was terminated prematurely while in strong mineralization due to the limitation of the rig with the final 1.6m averaging just over 2 g/t AuEq. Hole 15 was drilled to the south and  returned 154.2m of 1.22 g/t AuEq. it also produced higher-grade at the end of the hole with 9.9m of 3.18 g/t AuEq. The porphyry system is located within a gold mineralized halo envelop measuring 3km by 3 km and is open in all directions. The San Antonio Project is located between 2 kilometres and 5 kilometres to the east-northeast from the Company's flagship Guayabales Project within the Caldas Department in Colombia. The Company currently has eleven drill rigs operating as part of its fully funded 70,000-metre drill program for 2025 with three rigs at the San Antonio Project and eight rigs at the Guayabales Project. (NYSE: CNL) (TSX: CNL) News Release

Energy Fuels and Vulcan Elements have signed a memorandum of understanding to collaborate on creating a resilient domestic supply chain for rare earth magnets independent of China. Under the collaboration, Energy Fuels has agreed to supply initial quantities of high-purity "light" and "heavy" separated rare earth oxides to Vulcan in Q4 of 2025. Upon receipt, Vulcan will validate Energy Fuels' neodymium-praseodymium (NdPr) and dysprosium (Dy) oxides for production of rare earth magnet applications. After validating the oxides, Vulcan and Energy Fuels intend to negotiate additional long-term supply agreements for both NdPr and Dy oxides. NdPr and Dy are key raw materials required for the manufacture of rare earth magnets. (NYSE American: UUUU); (TSX: EFR) News Release

Valkea Resources announced it has commenced its multidisciplinary exploration program across its 100% owned Paana Project, northern Finland. Diamond drilling at Paana will first focus on disseminated, Ikkari-style gold mineralization at the Koivu Zone in the Aarnivalkea West target. Drilling is set to commence in the coming days. Systematic step-out holes are planned to build on results from previous dill programs while base of till drilling is planned across key target areas at Paana designed to strengthen the pipeline of high-priority drill targets. (TSXV: OZ) News Release

Orosur provided new infill drilling results from the Anzá Gold Project in Colombia. Results included 34m of 2.33 g/t Au from surface, 61.3m of 3.36 g/t Au and 71.85m of 6.13 g/t Au. The drill program has been designed in conjunction with external consultants to facilitate a MRE being calculated, with the multiple objectives of infilling previous drilling, expanding beyond current drilling to define the boundaries, and understanding the geological controls upon mineralisation and the variations in geology and grade across the deposit. (TSXV:OMI) (AIM:OMI) News Release

Last night, Marimaca Copper released the results of its Definitive Feasibility Study for its Marimaca Oxide Deposit which considers a nominal 50 ktpa of copper cathode production target for an estimated 13-year reserve life. The first five years of steady state production has an all-in sustaining cost estimated at $1.97/lb. Life of Mine ASIC is estimated at $2.29/lb. The economics of the study come in at a Post Tax NPV8 of US$709m and IRR of 31% using a long-term copper price of US$4.30/lb copper. Pre-production capax is expected to be around $587M USD. Debt financing workstreams are underway, with advisors and technical experts engaged with the objective of identifying preferred financing partners by year-end 2025. (TSX: MARI) (ASX: MC2) News Release

Foran Mining says the construction of the McIlvenna Bay project in Saskatchewan has surpassed the 50% completion milestone. The project remains on budget, aligned with the revised capital estimate disclosed in the May 13, 2025 press release and on schedule with commercial production, targeted for mid-2026. Surface construction advancement for July represents the greatest monthly construction progress achieved to date. Achieved key milestones including ball mill lining completion, significant progress with structural steel and concrete works, installation of floatation cells and started erecting structural steel for the conveyor towers, tailings handling and paste backfill structure. (TSX: FOM) (OTCQX: FMCXF) 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 by our friends at the Junior Mining 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.