Morning Briefing: Newmont's Record Quarter and More NGEx Drill Results
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It's Thursday, April 24th.
It was a rebound day for the US stock market yesterday, and therefore a cooling off period for gold. After reaching new highs the day prior, gold saw strong selling pressure yesterday as the White House attempted to cool the trade rhetoric with China. Gold fell $125 on the day and closed down 3.6% to $3,294/oz. Silver on the other hand, lead the way with a 2% move higher and closing at 33.54/oz. The Fed’s Beige Book, a publication about current economic conditions across the 12 districts was published and shows economic activity was little changed since the previous report, but uncertainty around international trade policy was pervasive.
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…Calibre Mining
Calibre is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Newfoundland & Labrador in Canada, Nevada and Washington in the USA, and in Nicaragua. The company recently announced a deal to merge with Equinox Gold. The transaction will create an Americas-focused diversified gold producer with a portfolio of operating mines in five countries anchored by two high-quality, long-life, low-cost Canadian gold mines, Greenstone and Valentine. You can learn more at https://www.calibremining.com/
And here’s what you need to know this morning…..
District Metals provided an update on ongoing core drilling at the base metal polymetallic Tomtebo Property in the Bergslagen Mining District of Sweden. A total of 1,712.5 m in three drill holes has been completed at the Steffenburgs zone within the historic Tomtebo Mine area . Drill targeting was designed 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. Pre-assay drilling has shown 18.9m of of disseminated to stringer style pyrite-pyrrhotite-chalcopyrite mineralization in hole 38, 26.0 m of disseminated to stringer style pyrite-pyrrhotite with minor chalcopyrite mineralization and 46.0 m of disseminated to stringer style pyrite-pyrrhotite-sphalerite-galena and minor chalcopyrite mineralization. The drill rig has now moved to Kvistaberget, which is an exploration target located 5 km northeast of the historic Tomtebo, which has never been drilled before. (TSXV: DMX) (OTCQB: DMXCF) News Release
NGEx Minerals published results from its ongoing Phase 3 drill program at the Lunahuasi copper-gold-silver project in San Juan, Argentina. Hole 33 extended mineralization to the north and intersected 40.00m at 7.02% copper equivalent which included 10.1m of 18.21%. Hole 34 extended mineralization down dip and returned 271.9m of 2.88% CuEq. The company says although a porphyry system is the source and driver of the high-grade mineralization, we believe that the high-grade mineralization is starting to demonstrate significant scale and consider it to be the primary target at Lunahuasi. Two rigs have now been successfully demobilized as the Company begins to wind down its Phase 3 program in anticipation of the onset of winter weather conditions at the project. (TSX: NGEX) (OTCQX: NGXXF) News Release
Li-FT Power reported results from preliminary laboratory lithium conversion testwork completed in 2025 on a spodumene concentrate sample from material from the Yellowknife Lithium Project, Northwest Territories, Canada. The conversion test work showed excellent results with up to 98% lithium extraction under typical operating conditions. The company says this marks a significant technical milestone for the project. (TSXV: LIFT) (OTCQX: LIFFF) News Release
STLLR Gold announced additional infill drill results using artificial intelligence technology at the Tower Gold Project in the Timmins Mining Camp in Ontario. Hole 227 returned 2.22 g/t Au over 33m while hole 233 returned 2.95 g/t Au over 7m. Using AI to optimize drill meterage and mineral resource conversion, STLLR's infill program intersected near-surface mineralization with grades higher than the current 903 Deposit Mineral Resource Estimate, potentially enhancing confidence in the targeted areas. The Company has completed its planned 5,000-metre program and will release the final assay results when they become available. (TSX: STLR) (OTCQX: STLRF) News Release
Brunswick Exploration reported their first results from the 2025 Mirage winter drilling campaign where it drilled an additional twenty-four holes targeting extensions of known mineralized zones. The Mirage Project is located in the Eeyou Istchee-James Bay region of Quebec, approximately 40 kilometers south of the Trans-Taiga Road. From the Central Zone, drilling returned 36m of 1.51% Li2O and 28m of 1.32%. The MR-3, MR-6 and staked dyke system can now be traced together into a major swarm of spodumene bearing pegmatites covering a surface area of over 1,000 meters by up to 450m. A total of 24 drill holes prioritizing near surfaces mineralization in the extension of the staked dyke area were completed during the winter. Assays are pending for a further 16 holes. (TSX-V: BRW, OTCQB: BRWXF) News Release
Newmont released their Q1 numbers last night and reported Net Income of $1.9 billion, Adjusted Net Income of $1.25 per diluted share and Adjusted EBITDA of $2.6 billion. After completing their divestiture program, the company also delivered $1.0 billion in total returns to shareholders through share repurchases and dividend payments since the start of the year and declared a dividend of $0.25 per share of common stock for the first quarter of 2025. News Release
Western Alaska Minerals says the company will changes its name to Alaska Silver Corp. The rebrand reflects the Company's value, underpinned by the 75 million ounces of silver equivalent at 980 grams per ton in the inferred resource at the Waterpump Creek Deposit - a cornerstone of its 100% owned Illinois Creek Project. The rebrand will be live on Monday, April 28th. News Release
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That’s it for today everyone. Have a great day. Stay safe.
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