Morning Briefing: Scorpio Gold Builds Momentum with Manhattan Update

Good morning and welcome back to the Mining Stock Daily morning briefing. I’m your host for this week, Ian Wagner

It's Tuesday, November 11th. Happy Veteran’s Day out there to all our listeners who are veterans or have veterans in their family.

Gold futures climbed about $58 on Monday to trade near $4,140 per ounce early Tuesday, extending gains as traders priced in a softer U.S. dollar and rising expectations for a Federal Reserve rate cut in December. Silver followed higher, adding roughly 1% to sit near $50.80 per ounce. Miner equities strengthened with the  Gold Miners ETF GDX rising to around $74, and the Junior Gold Miners ETF (GDXJ) up near $95. The U.S. Dollar Index eased slightly below 99.5, providing further support for precious metals. Overall, sentiment across the gold complex remains firm heading into mid-November.

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… Vizsla Silver

Vizsla Silver is focused on becoming one of the world’s largest single-asset silver producers through the exploration and development of the 100% owned Panuco-Copala silver-gold district in Sinaloa, Mexico. The company consolidated this historic district in 2019 and has now completed over 375,000 meters of drilling. The company has the world's largest, undeveloped high-grade silver resource. Learn more at ⁠https://vizslasilvercorp.com/⁠

And here’s what you need to know this morning….. 

Scorpio Gold Corporation provided a comprehensive update on its 100%-owned Manhattan District in Nevada, where 19 high-potential exploration targets have now been outlined. The company believes the project hosts strong district-scale potential, with four historic high-grade deposits—Keystone Jumbo, Hooligan, Black Mammoth, and April Fool’s—remaining largely underexplored. CEO Zayn Kalyan emphasized Manhattan’s combination of infrastructure advantages, near-term expansion opportunities, and a fully funded 50,000-meter Phase 2 drill program. Scorpio’s team is digitizing over 92,000 meters of historic drilling and 42,000 assays into a modern GIS database for the first time, which will guide predictive modeling and target definition. Executive Technical Director Leo Hathaway added that the district’s geology, high historic cut-off grades, and favorable host rocks suggest strong potential for resource expansion. Work programs across the 19 targets are expected to begin in Q1 2026. Scorpio Gold trades on the TSX-V under SGN and OTCQB under SRCRF. NEWS RELEASE

Capitan Silver Corp. reported strong results from six new holes at its Cruz de Plata silver-gold project in Durango, Mexico, confirming the emergence of a new high-grade zone at Jesus Maria. 

Drillhole 25-ERRC-26 returned standout intercepts of 1,767 g/t AgEq over 1.5 meters within 234 g/t AgEq over 25.9 meters, plus a near-surface hit of 613 g/t AgEq over 1.5 meters, within 156 g/t AgEq over 7.6 meters. 

Nearby hole 25-ERRC-21 cut 710 g/t AgEq over 1.5 meters and 260 g/t AgEq over 1.5 meters within broader mineralized intervals. Both holes build on the exceptional 2,636 g/t Ag over 1.5 meters previously reported from hole 25-ERRC-12, extending mineralization 50 to 70 meters along strike and down-dip. 

Capitan also identified a new mineralized structure along the Peñoles Fault, indicating broader system potential. Drilling continues with 10,000 of 15,000 meters now complete. Capitan Silver trades on the TSX-V under CAPT. NEWS RELEASE

1911 Gold Corporation reported strong new drill results from the True North Gold Project in Manitoba, confirming high-grade gold mineralization at the San Antonio West target to depths of 630 meters. Key intercepts included 24.83 g/t gold over 2.6 meters in hole TN-25-064, with sub-intervals up to 63.2 g/t gold over 0.5 meters, and 4.04 g/t gold over 5.8 meters in TN-25-067. Hole TN-25-071 also returned 12.8 g/t gold over 0.8 meters. The results highlight robust quartz vein-hosted gold zones adjacent to existing mine workings. CEO Shaun Heinrichs said the program continues to deliver some of the best near-mine results to date and positions True North for resource expansion and a potential restart of operations. The company has completed 20,398 meters of surface drilling and has now transitioned to underground exploration. 1911 Gold trades on the TSX-V under AUMB and OTC under AUMBF. NEWS RELEASE

Marimaca Copper Corp. announced it has received formal environmental approval (RCA) for its Marimaca Oxide Project in Chile’s Antofagasta region—marking a key milestone toward construction readiness. The approval follows years of environmental, social, and technical studies and extensive community engagement. With the RCA in hand, the company will advance to the Sectorial Permits phase, positioning the project to be construction-ready by late 2026. CEO Hayden Locke and Managing Director José Antonio Merino credited the Chilean team for executing a world-class permitting strategy aligned with high environmental and social standards. Marimaca Copper trades on the TSX under MARI and ASX under MC2. NEWS RELEASE

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

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