Morning Briefing: Copper challenged, Brixton Metals drill results
Good morning and welcome back to the Mining Stock Daily morning briefing. I am not Trevor Hall. I am Michael McCrae and will be filling in this week.
It’s Wednesday, March 25.
Gold, copper, NASDAQ and S&P futures are all opening green, while oil futures are in the red. Last checked, gold is in the $4,500 band while oil is at $87. Cracks are showing in the American economy due to high oil prices and U.S.-Iran war. In the last month, Polymarket, a prediction markets service, has put the chance that there is a recession in the U.S. up from 20% to 35%. Analysis says that copper could be challenged due to the war. Copper production is sensitive to energy price spikes, which increases mining costs. Cooling global demand also impacts copper. Lastly, Ivanhoe Mines Robert Friedland warned that African copper miners are highly dependent on Middle Eastern sulfur supplies, which are currently disrupted. Ivanhoe Mines has dropped 30% year to date.
We will get to the news on the miners and explorers in a minute, but first a quick word about today’s sponsor.
This episode of Mining Stock Daily is brought to you by..Equinox Gold.
Equinox has recently completed the business combination with Calibre Mining to create an Americas-focused diversified gold producer with a portfolio of mines in five countries, anchored by two high-profile, long-life Canadian gold mines, Greenstone and Valentine. Learn more about the business and its operations at equinoxgold.com
And here’s what you need to know this morning…..
Brixton Metals announced the third batch of results from its 2026 drilling campaign at the wholly-owned Langis Silver Project in the historic Cobalt mining camp of Ontario. The highlight of the release is a record-breaking intercept of 82,334 g/t silver (2,647 ounces per tonne) over a 0.5-meter interval. This grade hit was embedded within a broader, highly mineralized zone that returned 4,560 g/t silver over 11.35 meters. The company said that the results confirm the project's immense high-grade silver potential and will support Brixton's ongoing infill and expansion drilling efforts around the Shaft 6 area (TSX-V: BBB) . News release
Cartier Resources Inc. has announced the discovery of a new porphyritic intrusion-related gold system within the Pontiac sediments at its Hope Target on the Cadillac Project. The newly identified system is associated with a prominent 750-meter ovoid magnetic anomaly, suggesting excellent potential for large-scale gold mineralization. Drill highlights from the target yielded impressive intercepts, featuring 5.2 g/t gold over 5.0 meters and a broader zone of 1.2 g/t gold over 25.5 meters. These initial findings confirm the presence of an extensive, high-grade gold system and open up significant new exploration upside for the company in the region (TSXV: ECR). News release
Elemental Royalty Corporation reported record financial results for 2025, highlighted by a 128% year-over-year increase in revenue plus attributable share of Caserones to US$49.2 million, comfortably exceeding their updated guidance. This substantial growth, alongside a 131% increase in adjusted EBITDA to US$34.9 million, was largely driven by the company's transformative merger with EMX Royalty Corporation and strong performance across key cash-flowing assets. Looking ahead, the company announced robust 2026 guidance, projecting 17,000 to 21,000 Gold Equivalent Ounces (GEOs) and generating total expected revenue between US$76.5 million and US$94.5 million. Management emphasized that the newly expanded, diversified portfolio provides greater market resilience and optionality, offering significant exposure to both precious and base metals through organic growth opportunities and future project advancements (TSXV: ELE). News release
American Pacific Mining sold 100% of its Tuscarora District in Nevada to ICG Silver & Gold. Under the terms of the deal, American Pacific received 11.5 million ICG common shares—distributing 7.5 million directly to its shareholders while retaining 4 million—along with a contingent cash payment of US$5 million upon commercial production. According to the companies, this transaction enables ICG to leverage its technical and capital markets expertise to systematically advance the district's silver and gold assets toward a preliminary resource estimate. Meanwhile, American Pacific will maintain equity exposure to ICG's progress while shifting its operational focus and resources back to its flagship Madison Copper-Gold Project in Montana (CSE: USGD). News release
Great Pacific Gold announced the latest drill results from the Sinivit-Kavasuki Target at its flagship Wild Dog Project in Papua New Guinea. The highlighted drill hole, KVH-03, successfully intersected a broad near-surface mineralized zone returning 38.40 meters at 2.23 g/t gold equivalent (AuEq) from a depth of just 12.3 meters. These results confirm the continuity of strong silica flooding and quartz veining approximately one kilometer north of the Sinivit deposit while supporting a revised structural model that improves future targeting confidence. Furthermore, the company has already completed hole KVH-04 approximately 20 meters down-dip from KVH-03, intersecting roughly 60 meters of visible sulphide mineralization and brecciation with assay results currently pending (TSXV: GPAC) News release
Integra Resources released its fourth-quarter and full-year 2025 financial and operating results, highlighted by strong, guidance-meeting performance at the Florida Canyon Mine. For the full year, the mine produced 70,927 ounces of gold, driving record mine operating earnings of $94.5 million backed by an average realized gold price of $3,411 per ounce. This production enabled the company to generate $72.3 million in annual operating cash flow, successfully eliminate its debt, and strengthen its overall financial position while advancing its DeLamar Project through a positive Feasibility Study. Looking forward, Integra provided strong production guidance for the next three years, anticipating 70,000 to 75,000 ounces of gold in 2026 before ramping up to 80,000 to 90,000 ounces in 2027 and 2028 (TSXV: ITR) News release
Koryx Copper has announced an updated Mineral Resource Estimate for its fully owned Haib Copper Project located in southern Namibia. The update highlights a significant increase in copper equivalent grades due to the inclusion of gold and molybdenum by-products, along with a substantial rise in low-grade mineralized tonnage. The project now boasts 2.09 million metric tons of contained copper in the Indicated Resource category and 1.385 million metric tons in the Inferred Resource category, alongside a notably reduced stripping ratio. Moving forward, the company is continuing a 55,000-meter drilling program to further enhance the project's economics ahead of a Preliminary Feasibility Study anticipated for late 2026. (TSX:KRY.V) News release
Apex Critical Metals Corp. has officially appointed Zayn Kalyan, an experienced business development executive, to its Board of Directors. Kalyan brings a strong background in capital markets, corporate restructuring, and scaling public companies, most notably through his current role as CEO of Scorpio Gold Corporation (CSE:APXC). News release
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That’s it for today everyone. Have a great day. Stay safe.
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