Morning Briefing: Metals Attempt to Stabilize before Several US Economic Data Points are Delivered this Week
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It's Monday, July 29th.
Gold took the down elevator once again yesterday, which was its 4th straight day in the red. The yellow metal is attempting to find a floor this morning at $3,319/oz. Silver also had its 4th day in the red. It is also attempting to stage some sort of stability here this morning at $38.28/oz. There are several economic data points coming out this week, starting today, including the home price index and consumer confidence information. Not only do we see the FOMC meeting results for tomorrow, we also get GDP data, initial jobless claims, PCE data and US employment numbers throughout the week. The US dollar is rallying into the week which continues to add pressure on the metals complex.
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…..
District Metals reported assay results from five drill holes completed during the February to April 2025 drill program at the base metal polymetallic Tomtebo Property located in the Bergslagen Mining District in south-central Sweden. The main objective of this drilling phase was to systematically test the broader Steffenburgs zone and its prospective polymetallic mineralized horizon with aggressive step outs of 150 m at depth in order to identify high-grade sea floor massive sulphide lenses in several directions. Hole 44 intersected multiple zones of stringer style chalcopyrite (copper and gold) mineralization including 0.40 m at 4.3% Cu, 34 g/t Ag, 0.66 g/t Au and 4.10 m at 1.7% Cu, 11 g/t Ag, 0.76 g/t Au. that same hole returned 13.0 m at 36 g/t Ag, 2.0% Zn and 0.8% Pb deeper down the hole. All drill holes were followed up by Boliden's in-house, state of the art, down-hole, three component electromagnetic (DHEM) survey1, and all holes within the broader Steffenburgs zone showed both in-hole and off-hole EM conductors that likely represent sulphide mineralization. (TSXV: DMX) (Nasdaq First North: DMXSE SDB) (OTCQB: DMXCF) News Release
Brixton Metals announced the results of its second batch of drill results of the 2025 season from its wholly owned Thorn Project located in NW British Columbia, Canada. Shallow drilling was successful in extending the Glenfiddich Zone mineralization 105m northeast and remains open along strike and down dip. Hole THN25-322 returned 16m of 3.40 g/t gold, 96.08 g/t silver, 0.59% copper, 0.12% antimony from 61m depth. The zone remains open along strike and at depth with a strike estimate of 700m to 1000m and depth potential of 300-500m and with widths up to 50m. (TSX-V: BBB, OTCQB: BBBXF) News Release
Highlander Silver reported assay results from the first seven holes drilled to test a conceptual open pit target along a ridgeline where the Bonita vein system is exposed 10km to the south of the Ayelen underground deposit at its San Luis gold-silver project in Central Peru. BOD-003 returned 14.5m of 3.70 grams per tonne ("g/t") gold and 17.47 g/t silver ("Ag") from 25.7m downhole and 4.1m of 5.34 g/t Au and 43.22 g/t Ag. BOD-004 returned 16.9m of 4.42 g/t Au and 7.61 g/t Ag from 24.7m downhole. BOD-008 returned 23.1m of 4.92 g/t Au and 16.56 g/t Ag from 4.7m downhole. A total of 13 holes have been completed to date with assays pending for the balance; drilling is ongoing with one drill rig and regulatory approval has been recently obtained to expand the program to include a second drill rig. (TSX:HSLV) News Release
Omai Gold Mines shared additional results from its ongoing 2025 drill program, focused on expanding the large Wenot deposit at the Company's 100%-owned Omai Gold Project in Guyana, South America. Assays are reported for 6 holes and included 31.70 g/t Au over 7.5m, 5.67 g/t Au over 4.5m, and 13.74 g/t Au over 3.5m. Drilling continues to extend the known limits of gold mineralization at Wenot. Results are pending for an additional 8 holes. (TSXV: OMG) (OTCQB: OMGGF) News Release
Vizsla Silver published from its recently completed HLEM survey covering the Copala and Napoleon Vein corridors at its flagship Panuco silver-gold district and outlines initial exploration plans to test the newly acquired producing Santa Fé property located south of Panuco in Western, Mexico.The company says the data from the geophysics show several new near-surface anomalies. Some of these anomalies that deviate from trends coincide with mapped vein traces or vein projections. Vizsla Silver's team is analyzing the geophysical data to plan additional exploratory drilling in this area. For the remainder of 2025, Vizsla Silver will continue its ongoing fully funded +25,000 metre exploration drill program designed to test vein extensions and geophysical anomalies at Colorada North, Napoleon – Copala fault intersection, Animas (La Pipa), and to explore for potential blind to surface veins along three E-W oriented drill-hole Fences in Panuco West. (TSX: VZLA) (NYSE: VZLA) News Release
Vista Gold has a new feasibility study out for its Mt Todd gold project in Australia. The report highlights a smaller initial project and prioritizes higher grade ore t the processing plant, which lowers its initial capital costs compared to a feasibility study which was produced last year. Using a $2,500/oz gold price, the project under these current terms show economics with an NPV of 1.1 billion, IRR of 27.8% and 2.7 year payback. Capex is estimated to be $425M. Thats a 59% reduction from last year's study. (NYSE American and TSX: VGZ) News Release
Elemental Altus Royalties has acknowledged the receipt of regulatory approval by Capricorn Metals Limited for the full development of the Karlawinda Expansion Project in Western Australia. The expansion is expected to increase annual gold production by approximately 25% to 150,000 ounces per annum. Elemental Altus holds an uncapped 2% net smelter return (NSR) royalty. (TSXV: ELE) (OTCQX: ELEMF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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