Morning Briefing: Oil Hits a 4-Year High; NGEx Minerals Makes a New Discovery

Good morning and welcome back to the Mining Stock Daily morning briefing. 

It's Thursday, April 30.

Gold is bouncing back this morning, up to $4,642 an ounce. Silver is at $74.03 and copper is near flat at $5.98 a pound. On the energy side, Brent crude hit a four-year high overnight before pulling back — the move lower was driven in part by the front-month contract expiration today rather than a shift in the underlying supply picture.

The recovery in gold and silver today comes after two consecutive down sessions, and it puts the metals complex back above some key short-term levels heading into the end of the month. The Brent crude story is worth noting — a four-year high overnight signals that energy markets are still pricing in meaningful supply disruption risk from the Middle East, even as the ceasefire framework holds for now. The rollover in crude today is technical rather than fundamental. With the month closing out, the broader commodity picture — gold near $4,600, oil above $110, copper above $5.90 — reflects a market that continues to price in a combination of geopolitical uncertainty, dollar weakness, and strong physical demand.

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…..

NGEx Minerals has released new drill results from the Mars zone at the Lunahuasi high-grade copper-gold-silver project in San Juan, Argentina, with two holes returning 34 metres at 7.25% copper equivalent and 48 metres at 7.72% CuEq — the two intercepts sitting 180 metres apart within the same zone. The company also reports the discovery of a new mineralized zone 300 metres east of Mars, with an intercept of 23 metres at 4.72% CuEq approximately 60 metres below surface, open in all directions. Phase 4 of drilling at Lunahuasi has now wrapped up at 27,318 metres across 32 holes, with assays still pending on the final 16 holes (TSX: NGEX, OTCQX: NGXXF). News Release

Great Pacific Gold has reported drill results and an updated program at the Kavasuki prospect within its Wild Dog Project in Papua New Guinea. The standout holes are KVH-01, which returned 58.9 metres at 2.50 grams per tonne gold equivalent from 38.6 metres including 4.6 metres at 8.56 g/t AuEq, and KVH-03, which hit 38.4 metres at 2.23 g/t AuEq from 12.3 metres depth including a high-grade section of 2.2 metres at 16.24 g/t AuEq. KVH-04 added 59.9 metres at 1.43 g/t AuEq from 8.7 metres including 14.0 metres at 2.69 g/t AuEq. KVH-05 returned a shallower intercept of 29.5 metres at 0.45 g/t AuEq, with a sixth hole currently underway stepping out 50 metres west. Six additional holes totalling approximately 900 metres are planned to test Kavasuki along 500 metres of north-south strike, with drilling targeted for completion by end of June 2026 (TSX-V: GPAC, OTCQX: GPGCF). News Release

Radisson Mining has reported results from 16 new holes at the O'Brien Gold Project in Quebec's Abitibi, with pilot hole OB-26-384 reaching 1,900 metres vertical depth — the deepest hole ever drilled at the project — and returning 4.54 grams per tonne gold over 12 metres. The result extends known mineralization approximately 350 metres below the current resource footprint. Radisson is running a 140,000-metre step-out program with seven active rigs, and to date 77 of 97 reported holes have returned intercepts above 3 grams per tonne gold — a 79% success rate. The current resource stands at 0.63 million ounces indicated at 5.59 grams per tonne and 1.69 million ounces inferred at 5.08 grams per tonne (TSX-V: RDS, OTCQX: RMRDF). News Release

Americas Gold and Silver has announced its fourth major new discovery at the Galena Complex in Idaho's Silver Valley, identifying six new high-grade silver-copper-antimony veins within the 43L-TJ Vein Complex, located approximately 150 metres southwest of the previously discovered 149 Vein and within 25 metres of current mine infrastructure. The headline intercept from the new discovery returned 1,392 grams per tonne silver, 1.5% copper, and 1.5% antimony over 1.9 metres. The string of new vein discoveries continues to demonstrate that the Galena system remains highly prospective beyond its current mine workings (TSX: USA, NYSE American: USAS). News Release

AbraSilver Resource has reported an intercept of 68.5 metres grading 343 grams per tonne silver, including a higher-grade core of 17 metres at 917 grams per tonne silver, from the JAC-Oculto trend at the Diablillos silver-gold project in Salta, Argentina. Diablillos hosts a current Measured and Indicated resource of 186 million ounces of silver and 1.6 million ounces of gold, and the company's Definitive Feasibility Study remains on track for completion in Q2 2026 (TSX: ABRA, OTCQX: ABBRF). News Release

Kodiak Copper and Teck Resources have entered into a non-binding letter of intent to combine their respective Arizona copper projects into a new US-focused exploration company to be called Kay Copper Corp. Kodiak would contribute its Mohave project and Teck would contribute Copper Hill — both drill-ready exploration-stage projects in Arizona — into Kay Copper, which intends to list on the TSX Venture Exchange. The financing for the new entity is structured as a subscription receipt offering at $0.25 per share targeting a minimum of C$4 million, with Kodiak and Teck each expected to hold approximately 28% of the resulting company on closing. The transaction is expected to close in Q3 2026 (TSX-V: KDK, OTCQX: KDKCF). News Release

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

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