Morning Briefing: Gold and Silver Under Pressure; Heliostar Reports High-Grade Gold at Ana Paula
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 Monday October 19th.
Gold, silver and copper enter the week under pressure after hotter-than-expected U.S. inflation rattled markets. Gold lost roughly 0.7% last week, silver dropped 6.4%, and copper declined approximately 1%. Gold is stabilizing near $4,200, while silver faces resistance around $59. Copper could benefit from China's stronger-than-expected third-quarter GDP growth of 4.5%, although weak domestic demand remains concerning. Investors will watch U.S. jobless claims Thursday, October 22, and manufacturing PMI and consumer sentiment Friday, October 23. The bigger catalyst comes next week, with the Federal Reserve's October 27–28 meeting potentially determining the metals market's next direction.
A ten-day strike at Antofagasta’s Centinela copper mine in Chile has ended after 94.5% of participating workers approved a new labor agreement. More than 700 workers had walked off the job seeking equal benefits across unions. Antofagasta says copper production remained normal throughout the strike, avoiding potential supply disruptions.
The U.S. government-backed Project Vault is preparing up to $1 billion in loans to American manufacturers seeking secure critical-mineral supplies. More than 70 companies are in discussions, with over a dozen expected in the initial round. The initiative will purchase and stockpile minerals for manufacturers, reducing exposure to supply disruptions.
Before the market opening today, gold futures are trading at $4,180, mostly unchanged., Silver futures are up half a percent to 57.66 and copper futures are steady at $6.55.
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…Integra Resources
Integra is a growing precious metals producer in the Great Basin of the Western United States. Integra is focused on demonstrating profitability and operational excellence at its principal operating asset, the Florida Canyon Mine, located in Nevada. In addition, Integra is committed to advancing its flagship development-stage heap leach projects: the past producing DeLamar Project located in southwestern Idaho, and the Nevada North Project located in western Nevada. Learn more about the business and their high industry standards over at integraresources.com
Here's what you need to know today.
1) Heliostar Metals Reports High-Grade Gold Intercepts at Ana Paula
Heliostar Metals has reported additional high-grade drill results from its Ana Paula gold project in Guerrero, Mexico, highlighted by 52.4 metres grading 5.84 grams per tonne gold, including 12.6 metres at 17.8 grams per tonne. Another hole returned 24.8 metres at 5.14 grams per tonne. Drilling in the Expansion Zone also intersected 8 metres grading 6.88 grams per tonne gold. The company has now completed more than 35,000 metres of drilling across 122 holes, supporting its upcoming feasibility study while continuing to expand mineralization beyond the existing resource. The Expansion Zone remains open in multiple directions. Heliostar trades on the TSX with the ticker symbol HSTR. NEWS STORY
2) Vizsla Copper Commences First Drill Program at Copperview Project in British Columbia
Vizsla Copper has commenced its inaugural drill program at the Copperview copper project in south-central British Columbia. The program will test the previously undrilled M5 target, a large geophysical anomaly measuring approximately 2.5 by 1.4 kilometres. Located near Princeton, the project sits along the same regional geological trend as Kodiak Copper’s Gate discovery. The drilling follows receipt of a five-year exploration permit earlier this year and represents the first direct test of Copperview’s porphyry copper-gold potential. The program aims to determine whether the extensive geophysical anomaly corresponds to a significant mineralized system. Vizsla Copper trades on the TSX Venture Exchange with the ticker symbol VCU. NEWS STORY
3) Aclara Resources Updates Penco Rare Earths PEA with US$344 Million Valuation
Aclara Resources has released an updated preliminary economic assessment for its Penco rare earths project in Chile, outlining an after-tax net present value of US$344 million, a 26.1% internal rate of return, and a 3.2-year payback period. Initial capital costs are estimated at US$244 million, supporting a 17-year mine life.The project is expected to generate approximately US$101 million in annual EBITDA, with construction targeted for completion in the second half of 2028. Aclara plans to complete a feasibility study in early 2027. Aclara Resources trades on the Toronto Stock Exchange with the ticker symbol ARA. NEWS STORY
4) Altius Minerals Reports 21% Increase in Junior Mining Equity Portfolio Value
Altius Minerals reported its third-quarter 2026 project generation update, with its junior mining equity portfolio increasing to $97.6 million, up from $80.4 million at the end of June. The company invested approximately $5 million during the quarter, including $1.7 million in TNR Gold, alongside investments in Centauri Minerals and Gilpas Resources. Altius also highlighted exploration progress across its royalty portfolio, including new gold discoveries in Nevada and nickel-copper exploration in Michigan. Orogen Royalties remains its largest equity holding, with Altius maintaining approximately 17% ownership. Altius Minerals trades on the Toronto Stock Exchange with the ticker symbol ALS. NEWS STORY
5) Capitan Silver Expands High-Grade Mineralization and Discovers New CRD System in Mexico
Capitan Silver reported new drill results from its Cruz de Plata project in Durango, Mexico, extending high-grade silver mineralization to 600 metres down-dip. The deepest hole returned 0.9 metres grading 1,639 grams per tonne silver equivalent, within a broader 9.3-metre interval grading 155 grams per tonne. Drilling also identified a new carbonate replacement deposit, or CRD, approximately 500 metres below the Jesus Maria Silver Trend, suggesting additional exploration potential at depth. Results are pending from another 80 drill holes as the company continues its 60,000-metre program. Capitan Silver trades on the TSX Venture Exchange with the ticker symbol CAPT. NEWS STORY
6) Galleon Gold Announces C$24.75 Million in Proposed Equity Financings
Galleon Gold announced a C$20 million bought-deal private placement consisting of flow-through and hard-dollar shares, alongside a concurrent C$4.75 million non-brokered private placement, for total anticipated proceeds of C$24.75 million. The financing would strengthen the company’s balance sheet as it advances its West Cache Gold Project near Timmins, Ontario, where underground development is underway to support an 86,500-tonne bulk sampling program. The company recently initiated an updated preliminary economic assessment for West Cache. The financings remain subject to closing conditions and regulatory approvals. Galleon Gold trades on the TSX Venture Exchange with the ticker symbol GGO. NEWS STORY
7) Stillwater Critical Minerals Files Updated NI 43-101 Technical Report for Montana Project
Stillwater Critical Minerals has filed an updated NI 43-101 technical report for its Stillwater West project in Montana, confirming a significant expansion of its nickel, copper, cobalt and platinum-group metals resources. The updated estimate includes 805.1 million tonnes of inferred resources grading 0.34% nickel equivalent, more than double the previous estimate, plus a maiden indicated resource of 29.4 million tonnes grading 0.38%. Combined resources contain approximately 5 billion pounds of nickel, copper and cobalt, alongside 7.79 million ounces of precious metals. The filing supports future metallurgical testing, engineering and economic studies. Stillwater Critical Minerals trades on the TSX Venture Exchange with the ticker symbol PGE. NEWS STORY
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That's it for today everyone. Have a great day. Stay safe.