Morning Briefing: Gold Breaks Out while the Miners Lead the Charge
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It's Thursday, August 7th
Gold is having its breakout move this morning, as it busts its way higher, through trend resistance, currently adding $25 and trading at $3,460 an ounce. The moves in the gold equities somewhat anticipated this move as both the GDX and the GDXJ were up yesterday despite gold attempting to crawl its way out of a selling frenzy, which it did throughout the day. Its all positive signs when the gold equities lead the yellow metal. The weakness in the US Dollar continued yesterday, which also assisted the precious metal complex. After a mostly flat day yesterday, Silver is also surging higher this morning, up over .80 cents to $38.70 an ounce on its front month contract.
We’ll get to the news from the miners and explorers here in a moment, 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…..
Aldebaran shared results from 17 core drill holes at the Altar project in San Juan, Argentina. The goal of these holes was to upgrade resource blocks classified as Inferred to the Measured & Indicated categories. All holes reported today were focused either on the Altar Central, Altar East or Altar United zones. Results included 816.15 m of 0.53% CuEq, 491.10 m of 0.51% CuEq and 836.60 m of 0.44% CuEq. All holes for the 2024/2025 field program have now been reported. The next major milestones for the Altar project are the PEA in Q3-2025, the mineral resource update in Q4-2025/Q1-2026, and the PFS in Q4-2026. (TSX-V: ALDE, OTCQX: ADBRF) News Release
Talisker Resources have published additional assay results from underground face sampling of lateral development from the 1075 level at the Mustang Mine. Results this morning included 60.5 g/t over 0.57m within 8.8 g/t over 4.01m and 46.4 g/t over 0.46m and 45.2 g/t over 0.49m within 17.2 g/t over 2.64m. Both of these results come from the Alhambra Vein. In-vein development continues in multiple veins on the 1060, 1105 and 1120 levels above and below the 1075. (TSX: TSK, OTCQX: TSKFF) News Release
American Pacific Mining provided an update on the Palmer Project up in Alaska. American Pacific views the Palmer Project as a strategic source of critical minerals for U.S. domestic supply chains. Given the advanced nature of the Project, the Company believes that shareholder value will be best maximized through a transaction that allows for the acceleration of development of the asset. The company says they are evaluating a number of strategic options for the project, including a potential spin-out, a JV or an outright sale of the project. (CSE: USGD) (OTCQX: USGDF) News Release
Snowline Gold says drilling along the eastern edge of the Valley intrusion intersects sheeted quartz veins with trace amounts of visible gold along an open, 500 m area, with assays pending. The location of this mineralization at depth corresponds to the surface expression of the "Ridge" zone soil and talus fine gold anomaly, identified by the Company in early sampling. In addition, over 4,300 m of drilling has been completed to date in 2025 on the Rogue Project outside of the Valley deposit, on five additional targets. Rare instances of trace visible gold have been encountered in drill core from all five targets, in small (0.5-10 cm) quartz veins, consistent with the RIRGS deposit model. (TSX-V: SGD) (US OTCQB: SNWGF) News Release
Surge Copper has commenced field work at the Berg Project in British Columbia. The 2025 program is anticipated to be the final field campaign supporting the completion of a resource update and pre-feasibility study for the Berg Project. Two drill rigs are currently operating at site, with a total of approximately 5,000 metres of drilling budgeted. Environmental baseline studies are also ongoing across the broader project footprint. (TSXV: SURG) (OTCQB: SRGXF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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