Morning Briefing: JGBs and US Bonds Rip Higher Today, Strong bids in Precious metals
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m your host, Trevor Hall
It's Tuesday, January 20th.
After a long weekend in the US, markets reopen today and the precious metals sector is seeing meaningful moves higher once again. President Trump once again published a new tariff threat on European exports into the US on the ongoing spat over Greenland. The US dollar is weaker this morning and bonds are much higher. Part of the move in the bond market is on the back of news from Japan. JGB yields are also rising at the prime minister set February 8th as an early election. At time of recording gold is up 2.8% and silver is up 7.3%. Copper is down a percentage point.
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… Vizsla Silver.
Vizsla Silver is focused on becoming one of the world’s largest single-asset silver producers through the exploration and development of the 100% owned Panuco-Copala silver-gold district in Sinaloa, Mexico. The company consolidated this historic district in 2019 and has now completed over 375,000 meters of drilling. The company has the world's largest, undeveloped high-grade silver resource. Learn more at https://vizslasilvercorp.com/
And here’s what you need to know this morning…..
Meridian Mining announced results of results of separate Mineral Resource estimates for the Cabaçal deposit and the Santa Helena Central deposit. At Cabaçal, the company’s open-pittable resource has expanded to measured and indicated of 70.1Mt of .6 g/t Au, .3% Cu and 1.3 g/t Ag. Those are meaningful expansions in all metals as the company works the project towards a definitive feasibility study. At Santa Helena, its measured and indicated resources comes in at 5.3 Mt of .6 g/t Au, .4% Cu 15.5 g/t Ag, 1.9% Zn and .4% Pb. The resource remains open in all directions. (TSX: MNO) (OTCQX: MRRDF) News Release
Cartier Resources announced new drill results in the sixth batch of results from Main Sector from the 100,000-m drilling program Cadillac Project, located in Val-d’Or. Results reported this morning included 29.6 g/t Au over 1.7m, 13.2 g/t Au over 1m and 4.9 g/t Au over 3.1m. This batch of assays have accomplished two key data points, first, it has identified two new high-grade gold zones located midway between the Chimo Deposit and the East Chimo Deposit. The results also confirmed the 5B4 Zone extends to surface. (TSXV: ECR) News Release
Alaska Silver reported new silver and zinc results in several holes from its limited 2025 drilling program at the Waterpump Creek and Silver Sage deposits. The 2025 program comprised 2,057 m of drilling in 4 holes at the Waterpump Creek deposit, with WPC-35 which cut 5.9m (core length) grading 38 g/t (1.2 oz/T) Ag and 12.1% Zn, including 3.2m grading 67 g/t (2.1 oz/T) Ag and 16.9% Zn. In addition, 906.5 m of drilling in 9 shallow scout holes was completed at the newly discovered high-grade silver-lead zone, Silver Sage, located approximately 4.8km south of Waterpump Creek. Among these holes, SS25-04 cut 4.4m (core length) reporting 148 g/t (4.8 oz/T) Ag; 0.68% Pb and 0.24% Zn, including 1 m grading 349 g/t (11.2 oz/T) Ag 2.2% Pb and 0.20% Zn. (TSXV: WAM) (OTCQX: WAMFF) News Release
Mithril Silver and Gold shared new drill results from the Target 1 area on the Copalquin property in Mexico. This morning’s results included 1.35m of 21.9 g/t Au and 357 g/t Ag, 3m of 1.68 g/t Au and 107 g/t Ag and .5m of 15.5 g/t Au and 66.1 g/t Ag. Mithril is undertaking an aggressive exploration program in 2026, with 25,000 metres of drilling planned during the first half of the year across the Copalquin District. Upcoming work will focus on expanding known mineralized zones, testing new high-priority targets, integrating district-wide geophysical data, and continuing to advance the Company’s district-scale exploration thesis. (TSXV: MSG) (ASX: MTH) (OTCQB: MTIRF) News Release
Vizsla Silver published a corporate update this morning, sharing some of its key initiatives for the Panuco-Copala project in Mexico this year. Those objectives include Advance detailed engineering and select contractors for construction and mining, Advancing the ongoing test mine and bulk sample program, continuing underground infill and expansion drilling to support an updated project MRE, and continuing its district-wide surface exploration drilling program, including follow up test work at Animas. The company says with several new growth and de-risking initiatives, the Company is focused on further validating and enhancing value beyond the recently published Feasibility Study. (TSX: VZLA) (NYSE: VZLA) News Release
Magna Mining reported its Q4 production results from the McCreedy West Mine near Sudbury in Ontario. During the quarter, McCreedy West produced 84,953 tons of ore from the 700 Copper Zone at an average grade of 1.31% copper, 0.23% nickel, 1.05 g/t platinum, 1.10 g/t palladium, 0.45 g/t gold and 15.51 g/t silver. This represents an increase of 13% over Q3 as mining rates increased in November and December, following the compressed air system failure and the power related delays, which impacted operations during Q3 and early Q4. Access to stopes with high grade precious metals was achieved during Q4 and resulted in an increase in platinum, palladium, gold and silver grades compared to Q3. Underground development during the quarter totaled 1,688 feet, in line with Company forecasts. (TSXV: NICU) (OTCQX: MGMNF) News Release
Canterra Minerals published new drill results from its Wilding Gold Project in Newfoundland which adjoins Equinox Gold’s Valentine Mine. A total of 1,243 metres (m) of large diameter (HQ) core drilling were completed across 18 drill holes in fall 2025 at the Elm and Alder Zones as well as at Aspen. Results this morning included 31.5m of 10.89 g/t Au and 4.1m of 6.16 g/t Au. Drilling confirms continuity of high-grade quartz-sulphide gold veins, with alteration halos suggesting a larger hydrothermal system. (TSXV: CTM) (OTCQB: CTMCF) News Release
Fortuna Mining updated its mineral reserves and resources for the Séguéla Mine. Mineral Reserves now total 1.54 million ounces of gold, reflecting the inclusion of 401,000 ounces of gold planned for underground mining at the Sunbird deposit. Total Mineral Reserves now site at 16.0 million tonnes averaging 3.01 g/t Au, supporting a mine life of over 9 years at the current mining rate of 1.75 million tonnes per annum. (NYSE: FSM | TSX: FVI) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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