Morning Briefing: GreenLight Metal Enters JV with Barrick in Nevada
Good morning and welcome back to the Mining Stock Daily morning briefing.
It's Thursday, May 7.
Gold is at $4,750 an ounce, approaching its 50-day moving average. Silver is up 5.5% to $81.60. Copper is at $6.21 a pound.
Markets are waiting on Iran. The US is holding for Tehran's response to a peace framework that would halt fighting and reopen the Strait of Hormuz in exchange for limits on Iran's nuclear program — Iran pauses enrichment, accepts UN inspections, curbs underground facilities; the US eases sanctions and releases frozen assets. Iran has 48 hours to respond, with Trump warning of expanded military action if the plan is rejected. Oil is falling on deal optimism while gold and silver push higher. Separately, Israel killed a Hezbollah commander in Beirut overnight — its first strike on the Lebanese capital since last month's ceasefire. The broader region remains active.
We’ll get to the news from the miners and explorers in just a moment, but first a word about today’s sponsor.
This episode of Mining Stock Daily is brought to you by…Revival Gold.
Revival Gold is one of the largest pure gold mine developer operating in the United States. The Company is advancing the Mercur Gold Project in Utah and mine permitting preparations and ongoing exploration at the Beartrack-Arnett Gold Project located in Idaho. Revival Gold is listed on the TSX Venture Exchange under the ticker symbol “RVG” and trades on the OTCQX Market under the ticker symbol “RVLGF”. Learn more about the company at revival-gold.com
And here's what you need to know this morning…..
GreenLight Metals has signed a binding term sheet with Barrick Mining for a staged earn-in joint venture at the Kalium Canyon epithermal gold project in Nevada's Walker Lane — the same belt that hosts Barrick's Fourmile discovery. Barrick can earn up to an 80% interest by funding exploration and pre-feasibility work. If Barrick exits before Stage 1 vests, 100% of the project returns to GreenLight along with specified financial obligations (TSX-V: GRL, OTCQB: GRLMF). News Release
Scorpio Gold has reported a new result from the Black Mammoth target at the Manhattan District in Nevada — hole 26MN-076 returning 0.62 grams per tonne gold over 62.21 metres from 230.43 metres depth along the caldera margin. Black Mammoth is approximately 250 metres from Goldwedge and represents a bulk-tonnage epithermal target distinct from the high-grade Zanzibar Trend (TSX-V: SGN, OTCQB: SRCRF). News Release
Kingfisher Metals has announced a fully funded 15,000-metre drill program for 2026 at its HWY-37 and Forrest Kerr projects in BC's Golden Triangle, targeting the newly discovered Hank copper-gold porphyry system and the Williams target at depth. Crews mobilize late May with drilling starting mid-June. The program is funded by a C$30 million bought deal closed earlier this year (TSX-V: KFR, OTCQB: KGFMF). News Release
American Pacific Mining has reported underground sampling results from the breccia pipe and decline at the Madison Copper-Gold Project in Montana, returning up to 25% copper, 3.19 grams per tonne gold, and 27.2 grams per tonne silver. The results extend the known breccia zone south and west, sharpening targets for the 15,000-metre drill program commencing this month (CSE: USGD, OTCQX: USGDF). News Release
Westhaven Gold has released infill drill results from the South Zone at the Shovelnose Gold and Silver Project in southern BC, with hole SNR26-070 returning 54.0 metres at 8.99 grams per tonne gold and 55 grams per tonne silver. The company is also initiating a pre-feasibility study for the South Zone. Dundee Corporation is funding through an $85 million earn-in, with $30 million committed in the first phase inclusive of a 50,000-metre drill program at Shovelnose this year (TSX-V: WHN, OTCQB: WTHVF). News Release
NexGen Energy has released the final batch of 2025 assay results from Patterson Corridor East at the Rook I Project in Saskatchewan's Athabasca Basin, with hole RK-25-227 returning 12.0 metres at 3.46% U3O8 including 2.5 metres at 14.9% and 0.5 metres at 31.0%. The 2025 program totalled over 35,000 metres with 67 of 102 holes at PCE returning mineralization. PCE has a footprint of 600 metres by 600 metres vertical with a high-grade subdomain of 210 by 335 metres. Rook I received its federal construction licence in March 2026 (TSX: NXE, NYSE: NXE). News Release
Silver47 Exploration has released new high-grade rock sample results from the expanded Kennedy Gold-Silver Project in Nevada — the company tripled the project footprint to 6,150 acres in April through additional staking across a 22-kilometre vein system. Samples from across the district have returned up to 44.5 grams per tonne gold and 3,037 grams per tonne silver. Geological mapping and geophysics are underway to define drill targets (TSX-V: AGA, OTC: AAGAF). News Release
Alaska Silver has announced a simplification of its capital structure, converting all proportionate voting shares into common shares on a 100-to-1 basis and eliminating its dual-class structure. The change was driven by the company losing foreign private issuer status after a majority of its voting equity moved to US holders, requiring compliance with US SEC reporting rules. Single-class common shares begin trading under the existing WAM symbol on May 11 (TSX-V: WAM, OTC: WAMFF). News Release
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That's it for today everyone. Have a great day. Stay safe.
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