Morning Briefing: Mine Production Numbers Continue to Roll Into the Market
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It's Wednesday October 8th.
Another day and another move higher in the gold price. Gold continues to outpace all other markets this week, with another strong day yesterday, where the spot market attempted to breach $4000, but needed buyers out of Asia to make that happen overnight. Currently, at time of this report, spot gold is sitting at $4,038 an ounce. Interestingly, jewellery companies say growth remains strong from September due to festival and wedding demands overseas. The fear of monetary easing by the US Federal Reserve in an inflationary environment is also causing some traders to ride the trend higher. After a down day yesterday, silver is back up this morning to $48.58 an ounce. Copper remains above $5 a pound in what appears to be some consolidation.
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…..
Arras Minerals announced drilling results from the Berezski East Target at the Elemes Project. Hole EL25019 delivered wide zones of high-grade gold-copper mineralization starting at surface with 457.5m of .63 g/t AuEq, and it included 231m of .98 g/t AuEq. The company says Broad zones of potassic alteration and the presence of copper minerals such as bornite and chalcopyrite suggests this target may form part of a larger porphyry system. The company has also received preliminary results from the gravity survey conducted over the Berezski Central and Berezski East targets. The data reveals a pronounced gravity low coincident with the copper-gold mineralization at Berezski Central. A second gravity low has been identified immediately northeast of hole EL25019, supporting the company's interpretation that the copper-gold mineralization and potassic alteration intersected indicates that this hole cold be proximal to the core of a mineralized porphyry system. (TSXV: ARK) (OTCQB: ARRKF) News Release
Provenance Gold published their first step-out drilling results from the Herman Area of its Eldorado gold project in Eastern Oregon. Highlights included 1.25 g/t gold over 44.3m within a total of 179.83m of .67 g/t Au in hole 27. Hole 28 returned 172.21m of .82 g/t Au. RC drilling continues and includes ED29, drilled southwestward from ED27. In addition, the core rig has arrived on site and drilling has commenced with EC04 located in the Herman Area. (CSE: PAU) (OTCQB: PVGDF) News Release
Tudor Gold intersected 1.70 g/t gold over 73.50 meters at Treaty Creek. Tudor announced results from the third drillhole completed from the 2025 exploration drilling program at its 80%-owned Treaty Creek Project, located in the Golden Triangle of Northwestern British Columbia. The company also highlighted 2.03 g/t gold, 2.06 g/t silver and 0.01% copper (2.06 g/t AuEQ) over 38.0 m. The project continues to advance toward a future resource update, confirming the potential for a substantial bulk-tonnage deposit in the area. (TSXV: TUD). News release.
Great Pacific Gold is seeking a 1:1 spinout of Walhalla Gold Corp. Walhalla will acquire the Walhalla Gold Project in Victoria, Australia, and plans to begin drilling the Pinnacles target in early 2026. The company is seeking shareholder approval for the deal, and announced that a special meeting of shareholders is scheduled for November 27, 2025 (TSXV: GPAC) (OTCQX: GPGCF). News release.
Newcore Gold says it is expanding its drill program at the Enchi Gold Project in Ghana. With the exercise of warrants, the company now has about $10M in cash and has decided to increase this current program from 30,000m to 45,000m. Drilling continues to prove out the continuity of gold mineralization and potential for resource growth at Enchi. The 45,000 metre drill program underway is now in its second phase, focused on discovery and resource growth including drilling targeting earlier-stage exploration targets, drilling along strike at existing deposits, and drilling focused on defining the resource growth potential from the higher-grade structures at depth. (TSX-V: NCAU, OTCQX: NCAUF) News Release
American Pacific Mining shared their Phase II drill targets for the Madison copper-gold project in Montana. Having now received a key drill permit in early October, this next phase of drilling will test large-scale porphyry and high-grade skarn targets with step-outs and deeper holes guided by decades of geologic mapping, geochemical sampling, geophysical surveying, and 3D structural modeling. The highest-priority holes will probe beneath previously intersected copper-gold skarn zones, testing induced-polarization (IP) chargeability highs and coincident magnetic boundaries interpreted to represent the top of a concealed porphyry copper-gold center. CSE: USGD) (OTCQX: USGDF) News Release
And we are in the operational reporting season for Q3. Endeavour Silver produced 3m silver equivalent ounces in the quarter, which included output from Terronera’s startup operations. Between September 1 and September 23, Terronera processed a total of 39,190 tonnes of material, reaching a single-day peak of 2,162 tonnes and averaging 1,866 tonnes per day, with average metal recoveries of 82.8% for silver and 72.3% for gold.
Triple Flag Precious Metals reported revenue of US$93.5M for the third quarter which included revenue for the first time from the Johnson Camp Mine and Tres Quebradas.
Fortuna Mining production increased quarter over quarter, with 72 and a half thousand gold equivalent ounces. Fortuna reiterates its updated annual production guidance for 2025 in the range of 309,000 to 339,000 GEO.
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That’s it for today everyone. Have a great day. Stay safe.
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