Morning Briefing: Equinox Gold Shares Canadian Exploration Success

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

It's Tuesday, September 29th.

Gold ended yesterday down roughly four percent as crude oil prices and bond yields climbed in tandem, putting pressure across commodities and risk assets alike. This morning the metals are bouncing back — gold is trading at $4,154 an ounce, up about one percent, silver is up half a percent to $60.92, and copper is essentially flat at $6.56.

Bain and Company released its seventh annual Global Technology Report this morning. The headline reports funding AI's compute demand would require six trillion dollars in annual revenue by 2031. Bain finds that existing AI applications, such as consumer subscriptions, enterprise software, and advertising, account for only 1.2 to 1.8 trillion of that, meaning the remaining 4.2 trillion has to come from entirely new categories. It would require AI displacing traditional search, autonomous vehicles and industrial systems, physical AI like robotics and digital twins, and markets that simply don't exist yet. The report also found that AI has compressed the time to execute a typical cyberattack from roughly four weeks down to about 18 hours.

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

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Here’s what you need to know today. 

Equinox Gold has released a Canadian exploration update, with the headline results coming from Musselwhite in northwestern Ontario, where deep directional drilling has confirmed high-grade mineralization roughly two kilometres beyond current mining operations, including intercepts of 22.9 metres averaging 10 grams per tonne gold and 20.5 metres averaging 7.31 grams per tonne. At Valentine in Newfoundland, the new Minotaur discovery eight kilometres northwest of the mill has been traced to more than one kilometre of strike length, with 27.3 metres averaging 2.11 grams per tonne among the latest results. Equinox Gold trades on the TSX and the NYSE American as EQX. NEWS RELEASE

Kenorland Minerals has reported complete assay results from the first drilling at the Frotet Project in northern Quebec since the December 2025 maiden inferred resource of 2.55 million ounces at 5.47 grams per tonne gold. The standout results are step-outs drilled outside the current resource boundary. A 73.42-metre intersection at 2.24 grams per tonne along the R11 vein trend, and a 2.35-metre interval at 71.89 grams per tonne including 0.65 metres at 252 grams per tonne, both indicate that the known high-grade trends extend well beyond the current resource footprint. Kenorland holds a four-percent net smelter return royalty on the project, which is operated by Sumitomo Metal Mining Canada. Kenorland Minerals trades on the TSX Venture Exchange as KLD and on the OTCQX as KLDCF. NEWS RELEASE

Brixton Metals has reported the final drill results from the Camp Creek high-sulphidation target at its wholly owned Thorn Project in northwest British Columbia, completing a 15-hole campaign at the Glenfiddich Zone and extending it to 580 metres along strike and 350 metres down-dip. The standout result is hole THN26-385, which returned 17.58 metres at 1.47 grams per tonne gold equivalent including 1.18 metres at 13.39 grams per tonne gold equivalent, with that high-grade interval carrying 5.78 grams per tonne gold, 405 grams per tonne silver, and 1.97 percent copper, while hole THN26-371 delivered a broader 58-metre zone at 0.50 grams per tonne gold equivalent confirming consistent near-surface mineralization across the drilled area. Drilling is now complete for the season and a maiden mineral resource estimate covering both the high-sulphidation zone and the deeper Camp Creek porphyry is underway with APEX Geoscience, with results expected in the first quarter of 2027. Brixton Metals trades on the TSX Venture Exchange as BBB and on the OTCQX as BBBXF. NEWS RELEASE

Miata Metals has announced additional drill results from the Jons Trend at its Sela Creek Gold Project in Suriname, with hole 26DDH-JT-023 intersecting 35.25 metres at 3.41 grams per tonne gold from 97.75 metres depth, including 5.55 metres at 15.36 grams per tonne, extending the higher-grade zone approximately 50 metres down-plunge from the previously reported hole that returned 30 metres at 4.06 grams per tonne. Hole JT-022 added a second broad interval of 37.99 metres at 1.60 grams per tonne, and the company also reports first results from the Howler target located 750 metres from the Jons Trend corridor, where similar vein-style mineralization was intersected in five initial holes, indicating the potential for lateral repetitions of the Jons Trend system across the broader land package. Miata Metals trades on the TSX Venture Exchange as MMET and on the OTCQX as MMETF. NEWS RELEASE

Selkirk Copper has reported new results from its Phase 2 drill program at the Minto Project in Yukon, headlined by hole 26SCM209, which returned 9.27 percent copper, 7.43 grams per tonne gold, and 54.9 grams per tonne silver over 5.4 metres, equal to 15.11 percent copper equivalent. That places the intercept in the 99th percentile of more than 4,300 historical results at Minto, and it was drilled as a 35-metre step-out at the southern margin of the high-priority 202 Lens, which remains open for expansion. The company also recently completed a September 22nd preliminary economic assessment outlining an after-tax net present value of 494 million Canadian dollars and a 48-percent internal rate of return. Selkirk Copper trades on the TSX Venture Exchange as SCMI and on the OTCQX as SKRKF. NEWS RELEASE

1911 Gold has published its inaugural 2025 Sustainability Report for the True North Gold Project in the Rice Lake District of southeastern Manitoba, covering the year in which the company significantly ramped surface activities and returned to the underground mine in the second half of the year as it advances True North toward a potential restart decision. The report records a clean environmental year, with zero reportable incidents, zero regulatory fines or penalties, and water discharges from the Tailings Management Facility meeting all regulatory requirements. It also highlights that 44 percent of the company's year-end workforce was drawn from the local community, with 70 percent of total procurement spend directed to local and Manitoba suppliers. 1911 Gold trades on the TSX Venture Exchange as AUMB and on the OTCQX as AUMBF. NEWS RELEASE

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