Morning Briefing: Collective Mining Extends Apollo Ramp Zone and K2 Gold Reports Strong Dragonfly Drill Results

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

It is Tuesday October 20th. 

Precious metals weakened again on Monday as gold closed future lost about $20 to settle at at $4,160/oz while silver bounced around and remaining mosty in the $57 handle. 

Geopolitically, Trump waived some Russia sanctions raising expectations of more Russian fuel exports and easing oil prices. The World Bank also identified mineral-sector partnerships with twenty countries and plans to increase sector support to $19 billion by 2030. 

As of recording this morning, gold is trading at $4136, silver is hovering above $57, and copper is basically unchanged at 6.47/lb

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…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 vizslasilver.ca.

Here's what you need to know today.

1) Collective Mining has extended the Ramp Zone at its Guayabales project in Colombia, stepping out 340 metres along the previously untested northwest margin of the Apollo breccia. Two holes, about 120 metres apart, returned gold-equivalent intervals including 12 metres grading 11.3 g/t and 54 metres grading 2.8 g/t. A deeper hole, drilled roughly 80 metres below, logged visible gold; assays are pending. The company also reported new high-grade gold veins in previously undrilled ground outside the breccia. Ramp Zone Northwest remains outside the resource, and drilling is needed to establish continuity. Collective says assays from 95 holes are pending. Collective Mining trades on the Nasdaq and the Toronto Stock Exchange (TSX) under the ticker CNL. NEWS STORY

2) K2 Gold reported strong results from drilling at Dragonfly in its Mojave project in California, including a broad 84-metre interval grading 3.4 g/t gold, with a higher-grade 20-metre section averaging 7.5 g/t. The result adds to the company’s 2026 drilling, which has outlined multiple stacked, gold-bearing structures at Dragonfly. K2 says mineralization remains open in all directions, while much of the surrounding structural corridor remains untested. The company has described the gold as oxide mineralization and earlier reported high gold solubility in samples from the zone. The latest results add to Dragonfly’s exploration potential. K2 Gold trades on the TSX Venture Exchange under KTO. It also trades on the OTCQX under KTGDF.  NEWS STORY

3) Fortune Bay completed an Ausenco study comparing on-site gold doré production with making a gold concentrate for off-site treatment at its Goldfields project in Saskatchewan. Doré offers modestly higher gold recovery, while the concentrate option could simplify the initial plant, lower upfront capital and support staged development. The company will combine the study with recent metallurgical results and further testing, alongside environmental, engineering and commercial work, as it advances toward a pre-feasibility study. It has not selected a preferred processing route, and more work is needed to confirm recovery, concentrate quality and commercial terms. Shares trade as FOR (TSXV), 5QN (Frankfurt) and FTBYF (OTCQB). NEWS STORY

4) Cabral Gold reported that drilling has extended the Central deposit at its Cuiú Cuiú district in Brazil, with mineralization continuing at depth and along strike. A highlight was an 8-metre interval grading 2.5 g/t gold, including a narrow, higher-grade section. Drilling at Central North, about 400 metres north of Central, also intersected gold, supporting the company’s view that mineralization extends beyond the current deposit. Cabral is updating resources across several deposits at Cuiú Cuiú, with an estimate expected by year-end. The results add to exploration upside as the company advances its oxide operation toward commercial production. Shares trade as CBR (TSXV) and CBGZF (OTCQX). NEWS STORY

5) White Gold Corp. reported new drilling that expanded the high-grade core at Golden Saddle and extended high-grade mineralization at the VG deposit in Yukon. At Golden Saddle, a 38-metre interval grading 1.5 g/t gold included 8 metres at 5.1 g/t, extending the core about 50 metres west. At VG, drilling returned 19 metres at 2.5 g/t and extended mineralization 90 metres down-plunge, to 320 metres, across 150 metres of strike. The results point to further growth potential at both deposits as the company advances its White Gold project. Shares trade as WGO (TSXV), WHGOF(OTCQX) and 29W (Frankfurt). NEWS STORY

6) Kirkland Lake Discoveries reported new gold results from the Mirado project, 18 kilometres south of Kirkland Lake, Ontario. Highlights include narrow, high-grade intervals at Mirado West, plus a 19-metre intercept grading about 2 g/t gold at Mirado North. The results add to evidence of gold mineralization beyond the historical footprint, though continuity between zones remains to be established. Following a C$20 million financing, the company has started a fully funded, additional 25,000-metre drill program, with work planned at Mirado and regional targets across KL South. Assays from 23 holes are pending. Shares trade as KLDC (TSXV) and KLKLF (OTCQB). NEWS STORY

7)  AXO Metals reported near-surface gold at the newly identified Luz del Cobre target within its San Antonio project in Sonora, Mexico. Drilling returned 48 metres grading 1.2 g/t gold from surface, while another hole intersected 15 metres at 3.9 g/t. The company says drilling has confirmed at least 450 metres of mineralized strike between Luz del Cobre and Sapuchi. The target is about 1.8 kilometres from existing plant infrastructure and connected to the project by haul roads, so AXO is assessing it as a possible early mining area. Shares trade as AXO on the TSX Venture Exchange. NEWS STORY

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.