Morning Briefing: Gold and Bonds Retesting Yesterday's Big Moves

Good morning and welcome back to the Mining Stock Daily morning briefing.

It's Thursday, August 20th, and gold is putting its big Wednesday move to the test this morning.

The metals complex is in the red across the board. Gold is off 1.30% to $4,459 an ounce, silver down 1.65% to $65.82, and copper lower by 1.15% to $6.41 a pound. 

Yesterday, Treasury Secretary Scott Bessent doubled down on plans to aggressively buy back long-dated US Treasury bonds — and gold responded with a surge of nearly 3%, closing above its 200-day moving average for the first time in recent history, a technically significant level that traders have been watching closely. This morning gold is pulling back 1.30% to retest that moving average from above, while the 10-year Treasury yield has already retraced the entirety of Wednesday's rally back to pre-announcement levels — making the follow-through in both markets the most important signal to watch today.

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…Revival Gold.

Revival Gold is a US-focused gold developer advancing two projects in the American intermountain west — the flagship Beartrack-Arnett Gold Project in Lemhi County, Idaho, one of the largest undeveloped gold deposits in the United States, and the Mercur Gold Project in Utah, a past-producing mine where the company is advancing a pre-feasibility study on a heap leach restart. Revival Gold trades on the TSX Venture Exchange as RVG and on the OTCQX as RVLGF.

Here’s what you need to know today. 

American Tungsten has released the first mineral resource estimate for its IMA Mine in Idaho. The numbers come in totaling 316,000 indicated tonnes grading 0.553% WO₃ containing 1,747 tonnes of tungsten trioxide and 404,000 ounces of silver, plus 2,178,000 inferred tonnes grading 0.548% WO₃ containing 11,933 tonnes of WO₃ and 1,848,000 ounces of silver, with an additional indicated tailings resource of 267,000 tonnes at 0.155% WO₃ and 79,000 silver ounces. The company is advancing a phased development strategy — processing the tailings first given lower capital requirements, followed by an underground restart. American Tungsten trades on the TSX Venture Exchange as TUNG and on the OTCQX as TUNGF. NEWS RELEASE

Sirios Resources has reported results from the first five holes of its 2026 Phase 1 drill program at the Cheechoo Gold Deposit in James Bay, Quebec, with the headline hole — CH26-326 — returning 2.40 grams per tonne gold over 48.5 metres including 77.65 grams over 1.1 metres of visible gold. It was drilled outside the boundaries of the 2025 mineral resource estimate and confirms the deposit remains open and growing. The program is 33 holes and 13,555 metres complete with Phase 1 wrapping in September, after which the company will publish an updated resource estimate. Sirios Resources trades on the TSX Venture Exchange as SOI and on the OTCQB as SIREF. NEWS RELEASE

Osisko Metals is reporting new drill results from its 2026 program at the Gaspé Copper Project in Quebec. Results were highlighted by infill hole 30-1223, which returned 312.5 metres of 0.56% copper including 36.0 metres of 1.88% and 10.5 metres of 2.66%, while expansion holes 30-1218 and 30-1213 extended mineralization in-pit and out-of-pit, with best sub-intervals of 9.0 metres at 2.73% copper and 6.2 metres at 3.18% copper respectively. The project carries a combined M&I resource of 1.83 billion tonnes at 0.32% CuEq and 239 million inferred tonnes at 0.46% CuEq, with this program designed to convert inferred to indicated and expand the resource envelope to the south and southwest; Osisko Metals trades on the TSX as OM and on the OTCQX as OMZNF. NEWS RELEASE

1911 Gold has reported positive metallurgical results from two of its Manitoba gold projects, with testing returning 93.7% gold recovery at the True North deposit and 96.3% at the Ogama-Rockland deposit, both located on the company's 61,647-hectare Rice Lake greenstone belt property in Bissett, Manitoba. High recovery rates like these are meaningful for development-stage projects as they de-risk the processing assumptions behind project economics and resource estimates; 1911 Gold trades on the TSX Venture Exchange as AUMB and on the OTCQX as AUMBF. NEWS RELEASE

Heliostar Metals is reporting the first surface sampling results from an antimony discovery at its Goldstrike Project in Utah, where sampling at the Antimony Ridge zone has returned 2.53% antimony and 0.61 grams per tonne gold over 1.3 metres true width and 1.02% antimony over 3.2 metres, with a second discovery — Antimony Knoll — identified 1,700 metres to the west grading 1.11% antimony. Goldstrike already hosts a gold resource of 975,000 indicated ounces, and the antimony mineralization now extends more than 4 kilometres east of that resource, pointing toward a Carlin-scale mineralizing system. The first RC drilling program is underway at 852 metres across eight holes with results expected Q4 2026. Heliostar Metals trades on the TSX Venture Exchange as HSTR and on the OTCQX as HSTXF. 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 at Clear Commodity Network.

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