Morning Briefing: Gold and Silver Surge as Miners Rally; Pirate Gold Defines District-Scale Newfoundland Target

Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Ian Wagner filling in for Trevor Hall this week

It’s Wednesday, August 5th. 

Precious metals rose on Tuesday as tensions in the gulf appear to be abating. Gold settled at $4152, up more than $62 on the day. Silver September contract settled at 60.24, up over $2. 

The GDX and SIL both rose more than 2%, with the GDX closing at 77.92 and SIL closing at $78.59.

Both gold and silver are up significantly at the time of recording, with a big rally in the miners expected to continue today. 

This episode of Mining Stock Daily is brought to you by…Equinox Gold

Equinox Gold is a growth-focused gold producer operating mines across the Americas. With cornerstone assets like the Greenstone Mine in Ontario and the Valentine Gold Project in Newfoundland & Labrador, Equinox is advancing a new generation of large-scale, long-life gold operations. Learn more about their portfolio and development pipeline at equinoxgold.com.

Here’s what you need to know today. 

GPAC

Great Pacific Gold has reshaped its leadership team while advancing drilling at the flagship Wild Dog Project in Papua New Guinea. Alex Heath has moved into the CEO role, Callum Spink was promoted to chief operating officer and vice-president of exploration, and Sam Wong was appointed CFO. Greg McCunn is now executive chair, while Jason Gregg joins the board and will lead a new governance committee. The company says it holds more than twenty-two million dollars in cash. Operationally, one of two rigs has moved from Kasie Ridge to the Magiabe vein system, where an initial eleven-hole, roughly twenty-two-hundred-metre program will test the main and western veins. Surface sampling at Magiabe West previously returned eight metres grading about seventeen grams per tonne gold. The two-hole Kasie Ridge program is complete, with assays and mineralogical results pending. Great Pacific Gold trades on the TSX Venture under GPAC and OTCQX under GPGCF.  NEWS RELEASE

PIRATE GOLD

Pirate Gold identified widespread advanced argillic alteration at the Clipper Brook target within its Treasure Island Project in central Newfoundland. Spectral analysis confirmed alunite and pyrophyllite across more than three kilometres of surface exposure, within a low-resistivity electromagnetic trend extending over ten kilometres. Clipper Brook lies twelve kilometres east of the Moby Dick discovery and shows a similar geophysical signature, supporting a district-scale copper-gold porphyry and epithermal model. The company has received drilling permits and is preparing an initial program. Pirate Gold trades on the TSX Venture under YARR and OTCQB under YARRF. (NEWS RELEASE)

OUTCROP SILVER

Outcrop Silver reported high-grade results from the Morena and Aguilar targets at its Santa Ana silver-gold project in Colombia. At Morena, hole DH613 cut 0.71 metres grading 2,559 grams per tonne silver-equivalent, including 0.41 metres at 4,403 grams. Hole DH601 returned 1.74 metres grading 646 grams silver-equivalent. Drilling at Aguilar confirmed mineralization in the main and northern structures, including 0.30 metres grading 2,033 grams silver-equivalent. Morena is expected to contribute ounces to an updated resource estimate planned for September. Outcrop trades on the TSX under OCG and OTCQX under OCGSF.  NEWS RELEASE

ASANTE GOLD

Asante Gold updated the mineral inventories at its Bibiani and Chirano mines in Ghana, reporting a combined 4.6 million ounces of measured and indicated resources, plus 1.8 million inferred ounces. Chirano now hosts 2.53 million measured and indicated ounces and 1.30 million reserve ounces, supporting a seven-year mine life. Bibiani contains 2.06 million measured and indicated ounces and 1.53 million reserve ounces, supporting a nine-year plan. Chirano more than replaced two years of depletion, while Bibiani’s inventory declined following production and limited exploration. Both deposits remain open along strike and at depth. Asante trades on the TSX Venture under ASE and OTCQX under ASGOF.  NEWS RELEASE

OSISKO GOLD

Osisko Gold reported drilling from the Proserpine target, seven kilometres southeast of its Cariboo Gold deposit in British Columbia. Fourteen holes confirmed a mineralized system combining high-grade structures with broader lower-grade zones that may offer open-pit potential. Highlights included 4.6 metres grading nearly 96 grams per tonne gold, including half a metre at 873 grams, and 8.6 metres grading 5.46 grams. Mineralization now covers one kilometre by half a kilometre and remains open. Osisko plans another 26,500 metres of drilling and trades on the TSX Venture and NYSE under OGG.  NEWS RELEASE

GALWAY METALS

Galway Metals reported fourteen holes from the Southwest Deposit at its Clarence Stream gold project in New Brunswick. Infill drilling returned broad zones, led by 2.6 grams per tonne gold over 48 metres and 1.7 grams over 31 metres. Additional results included 5.3 grams over five metres and 3.1 grams over eight metres, both with higher-grade intervals. Several holes encountered widths exceeding the resource model within the pit shell, supporting expansion as Galway advances its preliminary economic assessment. Galway trades on the TSX Venture under GWM and OTCQB under GAYMF. (NEWS RELEASE)

AZTEC

Aztec Minerals reported step-out results from its Tombstone Project in Arizona, expanding shallow oxide gold-silver mineralization into the newly acquired North Extension Zone. Hole TR26-39 returned nearly eighty-eight metres grading 1.42 grams per tonne gold and about fifteen grams silver, including a six-metre high-grade core above twelve grams gold. Nearby hole TR26-38 cut roughly ninety-eight metres grading just over one gram gold and sixteen grams silver from surface. Management said the results suggest the Contention system is larger than currently defined and remains open northward and at depth. Aztec trades on the TSX Venture under AZT and OTCQB under AZZTF. NEWS RELEASE

ADYTON
Adyton Resources increased the indicated resource at its Gameta Gold Project on Fergusson Island, Papua New Guinea, by 131 percent following its 2025 infill drilling program. The updated estimate now contains 404,000 indicated ounces grading 1.41 grams per tonne gold, plus 207,000 inferred ounces grading just under one gram. Management said the higher-confidence, near-surface resource strengthens the geological model and supports future engineering, permitting and potential open-pit development studies. Mineralization remains open at depth and southeast along strike. Adyton trades on the TSX Venture under ADY and OTCQB under ADYRF. NEWS RELEASE

APEX

And with a big shout-out to our own Trevor Hall, I’m pleased to report that Mr. Hall has joined the board of directors for Apex Critical Metals, adding mining-sector communications and community-engagement experience as the company advances the Rift Rare Earth Project in Nebraska. Hall is CEO of Clear Commodity Network and host of Mining Stock Daily, and is a Nebraska native with longstanding ties to the state. CEO Sean Charland said Hall’s local roots and communications background will support transparent stakeholder relationships. Hall called Rift a compelling U.S. rare-earth opportunity with potential to help rebuild domestic mineral supply. Apex trades on the CSE under APXC and OTCQX under APXCF.  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.