Morning Briefing: Newcore Gold Drills High Grade

Good morning and welcome back to the Mining Stock Daily morning briefing. I am your host Michael McCrae filling in for Trevor Hall. 

It is Wednesday, October 28. 

Markets are focused on the coming Fed announcement. The Federal Open Market Committee (FOMC) is concluding its two-day policy meeting today. The Fed is widely expected to announce that it will maintain the benchmark interest rate in its current target range. 

S&P and Nasdaq futures are green. 

Gold futures are at $4070. Oil futures are at $101. 

We will get to the news from the miners and explorers in a moment, but first a mention of today's sponsor: Today's episode of Mining Stock Daily is brought to you by… Equinox Gold.

Equinox Gold is a growth-focused gold producer operating mines across the Americas. With cornerstone assets like the Greenstone Mine in Ontario and the Valentine Gold Project in Newfoundland & Labrador, Equinox is advancing a new generation of large-scale, long-life gold operations. Learn more about their portfolio and development pipeline at equinoxgold.com.

Here’s the news you need to know today.

Newcore Gold’s diamond drilling at the Nyam deposit on its Enchi Gold Project in Ghana intersected 2.16 g/t gold over 37.0 m from 205 m, including 5.10 g/t over 9.0 m, below the pits that constrain current Mineral Reserves, with true widths estimated at 75 to 85% of reported lengths. Two nearby holes returned 1.51 g/t over 21.0 m and 0.82 g/t over 40.0 m, extending a southern high-grade shoot to depth and targeting conversion of Inferred material to Indicated. None of the 2026 drilling is included in the current resource or the June 2026 Pre-Feasibility Study, which outlines a 5.5 Mtpa open pit operation where Nyam carries a Probable Reserve of 175,000 ounces at 0.76 g/t gold. (TSX-V: NCAU) News Release

Nova Minerals has received final Alaska Department of Natural Resources approvals for its Plan of Operations and Reclamation Plan, completing permitting for its antimony project covering stibnite mining at the Styx and Stibium prospects, ore sorting at the Whiskey Bravo site within the Estelle Project and refining at Port Mackenzie. Phase 1 is funded by a $43.4 million U.S. Department of War award, with engineering and metallurgical work complete, long-lead equipment delivered and a flowsheet designed to produce military-grade antimony trisulfide and grade II antimony metal. The company is targeting production in 2027 under an initial three-year permit term, but the release discloses no antimony resource, planned output, operating costs or construction timeline. (NYSE American: NVA) News Release

Westhaven Gold has completed a 117-hole, 37,242 m resource infill program at the South Zone deposit on its Shovelnose property in southern British Columbia, with new results including 23.00 m grading 6.69 g/t gold and 42 g/t silver and 5.53 m grading 16.51 g/t gold and 134 g/t silver, with true widths estimated at 70% to 80% of reported intervals. The work is funded by Dundee Corporation, which can earn up to 60% of Westhaven’s four Spences Bridge Gold Belt properties through up to $85 million in staged spending, and the company also raised about $3.1 million from warrant exercises, bringing shares outstanding to 275.0 million. An updated resource estimate will feed a pre-feasibility study now targeted for the second half of 2027, with results from 26 of the 117 infill holes still to be reported. (TSX-V: WHN) News Release

Headwater Gold’s first hole at its Jake Creek Project in Nevada, JC26-01, returned 1.34 g/t gold over 46.33 m, the best result to date in the project area, from a completed 3,574 m, eight hole program funded entirely by OceanaGold under an earn-in agreement. OceanaGold has terminated its earn-ins on the TJ and Hot Creek properties and will decide on continued participation at Jake Creek once the remaining assays are in, while Centerra has completed about 2,780 m in 18 holes at Crane Creek in Idaho with results pending. The release gives no true width for the Jake Creek intercept, and with two of three OceanaGold deals ended, Headwater is turning to a self-funded scout drill program at its 100% controlled Whiskey Project in Nevada. (CSE: HWG) News Release 

Brixton Metals is raising up to $6 million in a non-brokered private placement of national flow-through shares at $0.68 and critical mineral flow-through shares at $0.71, with all shares subject to a four month and one day hold period. Proceeds will fund exploration and drilling at the Thorn Copper-Gold Project in British Columbia and the Langis Silver-Cobalt Project in Ontario. Finder’s fees may be payable, insiders may participate, and the offering requires TSX Venture Exchange acceptance. (TSX-V: BBB) News Release 

District Metals has completed reconnaissance mapping and sampling at its Sågtjärn uranium property in Sweden, where 32 rock samples from outcrops and boulders identified pegmatite-hosted uranium over roughly 2 km of strike beyond the historic Sågtjärn deposit drilled by the Geological Survey of Sweden. Boulder samples returned up to 1,179 ppm U3O8 in pegmatites and up to 3,656 ppm U3O8 in silicified gneiss, with one boulder also carrying 5,250 ppm molybdenum, 333 ppm cobalt and 1,800 ppm copper. The results are grab samples rather than drill intercepts, and the historic Sågtjärn resource of 756,000 tonnes at 0.068% U3O8 has not been verified as a current NI 43-101 resource. (TSX-V: DMX) News Release 

Mithril Silver and Gold’s first systematic drilling of the Copalquin-Zaragoza Structure at Target 4 in Durango, Mexico, returned 11.70 m at 456 g/t silver equivalent from 22.0 m and 13.95 m at 387 g/t silver equivalent from 88.85 m, confirming mineralization over 550 m of strike and 200 m vertically with the structure open in both directions. The company has started a Scoping Study and PEA on its upgraded Target 1 resource, which is 75% Indicated and constrained within underground mining shapes, with results expected in early 2027. Mithril ended the September quarter with A$4.1 million in cash and no debt while completing a 25,000 m program, a modest balance against a PEA, permitting work and an expanded 2027 drill pipeline. (TSX-V: MSG) News Release

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That's it for today everyone. Have a great day. Stay safe.