Morning Briefing: Collective Mining Expands the Ramp Zone in Multiple Directions

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

It's Tuesday, November 10. 

Yesterday’s market rebound stalled early Tuesday after Federal Reserve Governor Christopher Waller backed a potential interest-rate hike in December.

 Economists expect today’s CPI to show monthly inflation rising 0.3%, with core CPI slowing slightly to 0.

Commodities are declining. Gold is at $4,086, down 0.69%. Crude oil is off 1.95% to $1.88. Copper futures are in the red -0.64% to $6.30. 

We will get to the news from the miners and explorers in a moment, but first a mention of today's sponsor: 

This episode of Mining Stock Daily is brought to you by...Vizsla Silver.

Vizsla Silver is advancing the Panuco silver-gold project in Sinaloa, Mexico — one of the highest-grade silver development projects in the world. The project hosts the world's largest, undeveloped high-grade silver resource, and the company has been aggressively expanding its drill program to grow that resource ahead of a development decision. Learn more at vizslasilvercorp dot com

Here’s the news you need to know today. 

Collective Mining reported assays from four directional holes at the Ramp Zone of its Apollo deposit in Caldas, Colombia, with all four intersecting mineralization below or beyond the boundaries of the maiden Mineral Resource published in September. The deepest hole, APC171-D3, cut 21.40 m at 11.06 g/t AuEq from 1,274 m below surface, a grade 154% higher than the estimate for the blocks it crossed. It also returned 79.80 m at 2.02 g/t Au roughly 370 m below the resource base, more than doubling the zone’s known vertical extent to about 720 m. Step-out holes 100 to 190 m north and northwest of the resource returned intercepts including 13.75 m at 11.68 g/t AuEq, and the fully funded company plans to start a 3 km exploration adit this month, drill toward sea level in 2027 and deliver an updated resource between Q4 2027 and Q1 2028 (TSX: CNL). News Release

District Metals has partnered with Luleå University of Technology’s Swedish School of Mines, through its Centre of Advanced Mining and Metallurgy, to study pyrite in the Alum Shale Formation at the Viken Property in Jämtland County, central Sweden. The company is supplying fresh drill core from its current program and sponsoring analytical work for an MSc project that will use microanalytical methods to examine how trace elements such as copper, zinc, molybdenum, nickel, cobalt, cadmium and arsenic are distributed across different pyrite generations. The research is meant to inform mineral processing routes, the potential use of pyrite as a sulphuric acid feedstock and environmental management protocols to address acid rock drainage, while also training young Swedish geoscientists (TSXV: DMX). News Release

Equinox Gold produced 237,019 ounces and sold 248,484 ounces of gold in Q3 2026 at an average realized price of $4,157 per ounce, generating record revenue of $1.0 billion and record adjusted EBITDA of $533.0 million, up 49% from Q2 and including two months of output from Musselwhite and Camino Rojo following the July 31 combination with Orla Mining. Cash costs fell 9% to $1,654 per ounce and AISC fell 4% to $2,091 per ounce, though the company now expects to land at the low end of its 870,000 to 920,000 ounce production guidance and the high end of its $1,900 to $2,000 AISC range. Net income was $62.5 million, the quarter closed with $527.9 million in unrestricted cash and $1.2 billion in liquidity, $35.3 million was returned to shareholders, and Jason Simpson succeeded Darren Hall as CEO on November 1 as construction began at South Railroad (TSX: EQX). News Release 

Heliostar Metals released results from 164 holes totalling 16,970 m at its San Agustin Mine in Durango, Mexico, part of a near-mine oxide program now expanded to 25,000 to 30,000 m with the goal of extending mine life by up to two years. The Corner Expansion Zone returned shallow oxide intercepts including 40.9 m grading 0.99 g/t AuEq from 20.0 m, extending mineralization more than 200 m beyond the current reserve, while the newly defined East Wall Zone east of current mining returned 100.6 m grading 0.42 g/t AuEq from surface and 24.4 m grading 3.44 g/t AuEq from 105.2 m. CEO Charles Funk said the two zones could supply about half of the targeted extension, with resource modelling, metallurgical work, engineering and permit modifications underway and the expansion objective slated for completion in 2027 as the company advances Ana Paula toward production (TSX: HSTR). News Release

Mining Americas provided an update on its four growth projects, led by the Copperstone underground project in Arizona, where construction is advancing after a May 2026 pre-feasibility study and board construction decision, with underground contractor Small Mine Development mobilized, the grinding mill rehabilitated and cleared for installation and major procurement packages moving forward. At the fully permitted Gold Rock open pit project in Nevada, early works including road upgrades, site preparation and leach pad liner orders are underway, and the company plans to deliver an updated Gold Rock resource for the Pan Operating Complex and an initial estimate of open pit mineralization at Copperstone in Q4 2026. The Cerro de Oro project in Zacatecas, Mexico, which received major permits in Q3 2026, is progressing toward a construction decision with an updated resource planned for the first half of 2027 and a pre-feasibility study in the second half, as CEO Darren Blasutti pursues the goal of becoming a U.S. focused intermediate gold producer (TSX: MAI). News Release

Revival Gold has exercised its options with Geyser Marion Gold Mining Company and Sacramento Gold Mining Company to acquire 176 patented mining claims and 257 fee lots at its Mercur Gold Project in Utah, paying the remaining US$127,188 and US$37,500 with no royalties retained by the vendors. The company also secured two peripheral 10-year state mineral leases covering 425 hectares in Tooele County for US$54,700 at auction, plus roughly US$3,150 in combined annual payments. CEO Hugh Agro said the transactions bring the entire Mercur land position under single ownership for the first time as Revival advances a pre-feasibility study due near the end of Q1 2027, targeting a potential return to production at the historic district, which produced about 2.6 million ounces of gold between 1890 and 1998, as early as 2029 (TSXV: RVG). News Release

Scorpio Gold’s first modern drill hole at the April Fool target in Nevada’s Manhattan District, located about 850 m from the core resource area, returned 9.4 g/t gold over 13.05 m from 78.63 m, including 19.83 g/t gold over 4.11 m, along with a deeper interval of 0.33 g/t gold over 45.57 m. The result confirms a targeting concept developed through 2026 mapping, which identified April Fool as an analogue of the Zanzibar Trend, with gold hosted in hydrothermal breccias along the faulted contact between caldera volcanics and Paleozoic metasediments. CEO Zayn Kalyan called it a modern discovery hole that opens the potential to extend mineralization well beyond the current resource footprint, with Keystone Jumbo next in line for drilling and assays pending from nine more holes of the 37,174 m Phase Two program (TSXV: SGLD). News Release

Intrepid Metals reported results from 686 soil samples at the Mattie Gold Target on its Corral Copper Project in Cochise County, Arizona, roughly 3.25 km south of the Ringo Zone, identifying several distinct gold anomalies with a high above 1.0 g/t gold and 22 samples exceeding 0.10 g/t. Silver values reached 2.50 g/t, forming a northwest-southeast trend that partly overlaps the gold response, and some of the anomalies coincide with earlier rock samples that returned up to 21.0 g/t gold and 195 g/t silver. The company plans detailed mapping along with additional rock and channel sampling to trace the source of the anomalies and refine potential drill targets at what Interim CEO Matt Lennox-King called an emerging gold target (TSXV: INTR). News Release

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