Morning Briefing: Gold Breaks Below Key Support
Good morning and welcome back to the Mining Stock Daily morning briefing.
It’s Wednesday, March 18th
Israel has confirmed the deaths of several senior Iranian leaders. Among the fallen are Intelligence Minister Esmail Khatib and security chief Ali Larijani, targeted in precision strikes that have decapitated key branches of Iran’s security apparatus. Within hours of the news, Tehran launched a massive wave of ballistic missiles and drones aimed at the heart of Tel Aviv. While a coalition of regional partners—including Bahrain, Qatar, and the UAE—joined Israel in intercepting the majority of the incoming fire, several impacts have been reported near civilian centers and critical infrastructure. Strikes have reportedly hit Iran’s South Pars gas field and major oil facilities, sparking fears of a global energy shock. Gold is being sold off this morning, with the front month contract breaking below the $5,000/oz mark and its 50dma support level. Its down over 2%. Silver is also down more than 2% this morning at $78/oz.
We will get to the news out of 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…..
Newcore Gold have published their updated mineral resource estimate for the Enchi Gold Project in Ghana. The Resource numbers today expanded the Indicated Mineral Resource at Enchi to 83.6 million tonnes at an average grade of 0.56 grams per tonne gold ("g/t Au") containing 1,502,000 ounces gold. This is more than double the last indicated resources which was published 3 years ago. Enchi’s Inferred Mineral Resource now sits at 40.1 million tonnes at an average grade of 0.49 g/t Au containing 626,000 ounces gold. The Resource is reported using a constraining resource pit at a gold price of US$3,200 per ounce. The resource includes four pit-constrained deposits (Sewum, Boin, Nyam, Kwakyekrom), with all deposits open along strike and at depth with potential resource growth in shallow oxide and transition mineralization, as well as within the deeper fresh mineralization. (TSX-V: NCAU, OTCQX: NCAUF) News Release
Brixton Metals shared their second batch of results from its ongoing exploration at the wholly owned Langis Silver Project, located in the historic silver mining camp of Cobalt, Ontario, Canada. Hole LM‑26‑305 represents the best silver intercept encountered by the Company to date in terms of grade‑thickness, returning 18.2 m of 3,638 g/t Ag from 113.8 m depth. Other results reported this morning were 13.6m of 367.0 g/t silver and 9.0m of 406.9 g/t silver. The 2026 drill campaign marks a significant milestone, targeting both infill and expansion of established high-grade silver zones. A total of 7510.25m over 39 holes has been completed in 2026. (TSX-V: BBB, OTCQB: BBBXF) News Release
Royal Road Minerals announced results from the first four drill holes of its program at the Güíntar-Aleman-Margaritas gold-copper-silver project in Colombia. Hole 28 returned porphyry style intersections with 176m of 1.2 g/t AuEq. Hole 31 returned skarn intersections with 193.7m of .6 g/t AuEq. drilling at Güíntar, combined with reprocessing of historical results and ongoing geological mapping and logging, continues to define a coherent expanding porphyry-skarn system extending from surface to depths exceeding 450 meters, with characteristics consistent with a bulk-tonnage underground mining scenario. (TSXV: RYR) (OTCQB: RRDMF) News Release
Blue Moon Metals have entered into an agreement to acquire the Gage project in southern Utah from a subsidiary of Liberty Gold. The deal adds to the land position around the Apex Mine, which was acquired by Blue Moon last week from Teck Resources. Blue Moon the area could be the most important germanium and gallium district in North America. Gage contains similar style breccia pipes as the Apex Mine, which hosts the only historic primary germanium and gallium mine in the western world. The deal comes at a cost of 420,935 common shares of Blue Moon and a 2.0% net smelter return royalty on certain concessions. (TSXV: MOON) (NASDAQ: BMM) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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