Morning Briefing: Kingfisher Targets New Porphyry in Golden Triangle
Good morning and welcome back to the Mining Stock Daily morning briefing. This is Ian Wagner filling in for Trevor Hall this week.
It's Thursday, April 16th.
Gold futures are holding well above $4,800 an ounce this morning, with yesterday's close near $4,820. The metal has climbed roughly 2% this week as the dollar slipped to a 6-week low and progress in US-Iran ceasefire talks eased some inflation fears. Silver opened near $79, about 0.6% below its Wednesday close of roughly $79.63 — still near a one-month high. On the equities side, GDX slid on Wednesday to close at 97.77 just shy of the 100-dollar mark. GDXJ was also off about 2.5% and SIL closed down 2%..
The macro backdrop is being driven by the US-Iran situation. Brent crude has retreated below $100 a barrel on hopes for a longer-term peace deal, dialing back fears of a sustained inflation shock and reducing hawkish expectations for Fed policy. Markets are now pricing in roughly a 20-30% chance of a rate cut this year.
Meanwhile, aluminum is flashing a notable signal for broader metals sentiment. LME three-month aluminum hit its highest level since March 2022, driven by supply disruptions in the Gulf. Iranian forces struck the Emirates Global Aluminium facility at Al Taweelah, and the company declared force majeure on some contracts, with full restoration potentially taking up to a year. The Gulf region accounts for roughly 9% of global aluminum output, and the Strait of Hormuz closure is compounding the supply deficit. For miners, it's a reminder that geopolitical risk is repricing the entire metals complex — not just gold.
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…..
Scorpio Gold has returned 2.09 g/t gold over 22.25 metres near surface along the Zanzibar Trend at its Manhattan District Project in Nevada, confirming the emerging corridor as a priority exploration target. Elsewhere in the batch, hole 59 cut two separate intervals of 1.05 g/t gold over 13 metres each along the Reliance Trend, while hole 61 returned 0.54 g/t gold over 18 metres at the Stray Dog area southwest of the historic USD Pit. Scorpio has now drilled 72 holes totalling over 20,500 metres in its Phase Two program, with assays pending from 16 holes. The Zanzibar Trend sits outside the current inferred resource pit, meaning this mineralization would be additive to the existing resource base. Scorpio Gold trades on the TSX-V under SGN and OTCQB under SRCRF. NEWS RELEASE
Argenta Silver has reported high-grade silver intercepts from step-out and infill drilling at the Yaxtché (yash-CHEH) Deposit at its El Quevar Project in Salta Province, Argentina, expanding the known limits of the system in both directions. To the northwest, hole 430 returned 679 g/t silver over 13.5 metres, including intervals of 1,163 g/t over 4 metres and 1,016 g/t over 3 metres. To the southeast, hole 436 cut 185 g/t silver over 8 metres alongside a separate gold zone of 0.85 g/t over 3.4 metres. Infill hole 438 returned 2,100 g/t silver over 1 metre, confirming continuity across internal gaps exceeding 100 metres. The deposit remains open in multiple directions. Argenta Silver trades on the TSX-V under AGAG and OTCQX under AGAGF. NEWS RELEASE
Kingfisher Metals has outlined a new porphyry copper-gold drill target at its Turquoise area within the HWY 37 Project in British Columbia's Golden Triangle. The target is defined by a 0.5 by 2.0 km chargeability anomaly supported by 3 independent geophysical datasets, and sits just 6 km from existing highway access and power infrastructure. Much of the target area is buried beneath glacial till and landslide debris, which likely conceals the core porphyry alteration zone. The company plans to drill the near-surface target this summer. Kingfisher trades on the TSX-V under KFR and OTCQB under KGFMF. NEWS RELEASE
Tiger Gold has reported strong porphyry-style gold mineralization at the Tesorito deposit of its Quinchía (keen-CHEE-ah) Gold Project in Colombia, with hole 78 returning 169.7 metres at 0.9 g/t gold, including 25 metres at 2.2 g/t. The mineralization in the standout hole is associated with intrusive breccias and porphyry-style veining sitting below the current resource pit shell — suggesting potential for resource growth at depth. A 20,000-metre drill program is ongoing with 3 rigs active across the project, and additional results from Tesorito, Dos Quebradas, and the new Ceibal target are pending. Tiger Gold trades on the TSX-V under TIGR and OTCQB under TGRGF. NEWS RELEASE
Americas Gold and Silver posted record quarterly silver production of 787,000 ounces in Q1 2026, a 76% increase year over year. The company sold a record 830,000 ounces during the quarter due to a positive timing adjustment on concentrate sales. Beyond silver, the company produced 2.0 million pounds of lead, 967,000 pounds of copper, and 137,000 pounds of antimony in the quarter. The company also hit 1 year with no lost-time accidents at Cosalá. Full-year 2026 silver guidance stands at 3.2 to 3.6 million ounces at all-in sustaining costs of US$30 to US$35 per ounce. Americas trades on the TSX under USA and NYSE American under USAS.- NEWS RELEASE
Omai Gold Mines has significantly expanded the resource base at its Omai Gold Project in Guyana, with combined indicated resources now at 2.5 million ounces at 2.04 g/t gold and inferred at 5.5 million ounces at 1.59 g/t gold. At the Wenot Deposit, indicated ounces jumped nearly 50% to 1.45 million ounces at 1.59 g/t. The adjacent high-grade Gilt Deposit saw its inferred ounces more than double to 1.46 million ounces at 3.22 g/t. A 50,000-metre drill program is underway with 5 rigs turning, and a Preliminary Economic Assessment is expected within 2 to 3 months. Omai trades on the TSX-V under OMG and OTCQB under OMGGF. NEWS RELEASE
Avino Silver & Gold Mines has published its first-ever consolidated mineral reserve estimate, a significant milestone for the Mexico-focused silver producer. Proven and probable reserves across 3 assets total 27 million tonnes containing 95 million ounces of silver at 109 g/t, 356,000 ounces of gold, and 85 million pounds of copper — equating to 127 million silver-equivalent ounces at 145 g/t AgEq. The company converted 42% of mineral resources to mineral reserves, representing decades of mine life at current mill throughput. A 30,000-metre drill program is planned for 2026 to further grow the resource base. Avino trades on the TSX under ASM and NYSE American under ASM. NEWS RELEASE
Kirkland Lake Discoveries has confirmed a broad, continuous gold system at its Mirado property in Ontario, returning 103 metres of continuous gold mineralization in the first drill hole at the South Zone. Key intercepts include 5.66 g/t gold over 18.2 metres and 3.30 g/t gold over 18.7 metres, with visible gold in multiple holes. The Mirado property sits 20 km southeast of Kirkland Lake within the Abitibi (ah-bih-TIB-ee) Greenstone Belt and was acquired just last quarter. Additional holes are currently testing strike and depth extensions at both the South and North Zones. Kirkland Lake Discoveries trades on the TSX-V under KLDC and OTCQB under KLKLF. NEWS RELEASE
Blue Moon Metals has completed a feasibility study for its Nussir copper-gold-silver project in northern Norway, delivering an after-tax NPV of US$235 million at 8% discount at a long-term copper price of $4.78 per pound, gold price of $3,515 per ounce, and silver price of $45 per ounce. The study outlines a 13-year mine life at 6,000 tonnes per day, average annual free cash flow of US$77 million, and initial capital of US$184 million. All primary permits are in hand, and the company has placed orders for long-lead equipment including the SAG mill and ball mill. The Feasibility Study provides strong support to allow Blue Moon to make a final investment decision, and it confirms the timeline to hot commissioning of the process plant is Q3 2027. Blue Moon trades on the TSX-V under MOON and NASDAQ under BMM. NEWS RELEASE
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That's it for today everyone. Have a great day. Stay safe.
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