Morning Briefing: Hercules Metals Drill 787.9m of .54% CuEq at Leviathan

Good morning and welcome back to the Mining Stock Daily morning briefing. I am Trevor Hall. 

It's Tuesday, June 16.

Gold is relatively flat this morning at $4,358 an ounce after yesterday's three-percent surge on the Iran-Hormuz deal — markets are digesting that move. Silver is adding three-tenths of a percent to $70.40, copper is holding flat at $6.49 a pound, and crude oil has pulled back to $79 a barrel.

The World Gold Council's annual survey of 74 central banks found that 45% plan to increase gold reserves in the coming year. This is the biggest share recorded in the survey's history going back to 2018, with just one respondent planning to cut holdings. Emerging market and developing economy central banks are the primary driver, with 53% expecting to add gold versus just 18% of advanced economy banks. Its a reminder that one of the structural forces behind bullion's record-breaking rally remains very much intact.

Despite the US-Iran framework deal announced Monday, shippers in Asia and Europe say confidence in resuming Strait of Hormuz transit could take weeks to rebuild. Navigation, they say, will only restart once safety is fully assured. One LNG tanker did pass through yesterday; the market is watching to see if that becomes a trickle or a steady flow.

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…Vizsla Silver.

Vizsla Silver is advancing the Panuco silver-gold project in Sinaloa, Mexico — one of the highest-grade undeveloped silver projects in the world. The project hosts a large near-surface resource with exceptional grades, and the company recently secured a working capital facility with FIFOMI, the Mexican government's mining finance institution, in support of Panuco's development. Learn more at vizslasilver.ca.

Here’s what you need to know today.

Newcore Gold has released additional drill results from its 80,000-metre program at the Enchi Gold Project in Ghana. Results today come from the Sewum deposit and showed wide zone of gold mineralization above the resource grade and below the limits of the pits that constrain the resource estimate. Highlights included 1.37 grams per tonne gold over 24.0 metres, including 1.93 grams per tonne over 12.0 metres. The company's pre-feasibility study is underway and targeted for completion by the end of June 2026, with four drill rigs currently active on the property (TSXV: NCAU, OTCQX: NCAUF). News Release

Hercules Metals has reported two new drill holes from the Leviathan porphyry system at its Hercules Project in western Idaho — the best returning 787.9 metres at 0.54% copper-equivalent, and a second extending the footwall zone to the southwest with 801.6 metres at 0.40% copper-equivalent. The results continue to expand what is shaping up as one of the most significant new copper discoveries in the US; Barrick Mining holds a strategic investment in the company and new Pegasus and Hook targets are drill-ready along strike (TSXV: BIG, OTCQB: BADEF). News Release

Brixton Metals has reported new high-grade silver intercepts from the Langis Project in Ontario, with the headline hole returning 906 grams per tonne silver over 4.3 metres — including 1,329 grams per tonne over 1.8 metres — all within a broader 23.7-metre interval of 206.6 grams per tonne silver. A second hole hit 4.95 metres at 493 grams per tonne silver, including 1,798 grams per tonne over 1.0 metre; Langis is a past-producing silver mine in northern Ontario with all-season road access and existing infrastructure (TSXV: BBB, OTCQX: BBBXF). News Release

Regency Silver has expanded its gold-silver-copper breccia discovery at the Dios Padre Project in Sonora, Mexico with a step-out hole returning 5.06 grams per tonne gold, 41.85 grams per tonne silver and 1.10% copper over 36.35 metres — pushing the known limits of the system further along strike. Dios Padre is emerging as a high-grade polymetallic discovery in Mexico's prolific Sonoran precious metals belt (TSXV: RSMX, OTCQB: RSMXF). News Release

Fortune Bay and Manhattan Uranium Discovery have commenced drilling at the Murmac Uranium Project near Uranium City in northern Saskatchewan, with the fully funded 5,000-metre program now actively testing 15 of up to 25 priority targets developed from integrated geological, geophysical and geochemical datasets. The Murmac and adjacent Strike Uranium Projects sit within 25 kilometres of Uranium City with established infrastructure; previous drilling at Murmac returned 8.40 metres at 0.30% U3O8, including 1.20 metres at 1.79% U3O8 (Fortune Bay: TSXV: FOR, OTCQB: FTBYF; Manhattan Uranium: TSXV: MANU). News Release

K2 Gold has mobilized a drill rig to the Dragonfly Target at its 100%-owned Mojave Project in Inyo County, California — marking the first drilling at Mojave since last April's Bureau of Land Management Record of Decision approved the program. Dragonfly hosts a broad zone of near-surface, high-grade gold mineralization and is one of several priority targets on the 5,830-hectare property, with K2 carrying $33.9 million in treasury to fund the campaign (TSXV: KTO, OTCQX: KTGDF). News Release

Vizsla Silver has awarded the equipment supply agreement for the Panuco silver-gold project in Sinaloa to FLSmidth, covering eight major equipment packages — crushing, grinding, thickening, Merrill Crowe and refining — designed to support both the initial 3,300 tonne-per-day Phase 1 operation and the planned expansion to 4,000 tonnes per day outlined in the 2025 feasibility study. Engineering begins immediately under a limited notice to proceed, with a formal Notice to Proceed anticipated in the coming months; Panuco's feasibility study outlined 17.4 million ounces of silver-equivalent annual production with an after-tax NPV of US$1.8 billion (TSX: VZLA, NYSE: VZLA). 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.

The information presented should not be considered investment advice. Mining Stock Daily and its affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein. Please do your own research or speak with a licensed financial representative before making any investment decisions.