Morning Briefing: Talon Metals Drill Longest Massive and Mixed Massive Sulphide Intercept Ever at Tamarack

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

It's Thursday, September 10th.

Gold is pulling back this morning, down 0.57% to $4,373 an ounce. Silver is off sharply as well, down 2.55% to $65.55. The biggest move is in copper, which is under significant pressure today, off 4.73% to $6.48. On the energy side, Brent crude is pushing further above $100, up 2.25% to $103.49.

With Brent trading above $100, the question is how consumers are responding at the pump, and Casey's General Stores provided some useful color on that yesterday. The convenience store chain noted it is seeing exactly the behavior you would expect at these prices. Consumers are making more trips to fill up but buying fewer gallons per visit, and they are trading down out of premium and mid-grade into regular or higher-ethanol blends like E15 and E85. The interesting element for Casey's is that those higher-ethanol blends carry better margins than clear gasoline, and more pump visits mean more foot traffic through the store.

On the bond market, Treasury Secretary Scott Bessent is taking an aggressive posture. The Treasury announced it will buy back up to $6 billion in longer-dated government debt, triple the normal size of these operations, as Bessent looks to put a ceiling on long-term borrowing costs. In a comment that has gotten considerable attention on trading desks, Bessent told an audience in Dallas: "I am the House now," a direct challenge to anyone betting against his interventions. Ten-year yields moved higher after the announcement, suggesting investors are not fully convinced.

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…Revival Gold.

Revival Gold is a US-focused gold developer advancing two advanced-stage projects in the western United States. The flagship Mercur Gold Project in Utah is a formerly producing heap-leach operation in the historic Tintic Mining District, now being aggressively drilled toward a Preliminary Feasibility Study targeted for Q1 2027, with a 2025 PEA already in hand demonstrating strong economics at current gold prices. Revival also holds the Beartrack-Arnett Gold Project in Idaho, one of the larger undeveloped gold deposits in the United States. Revival Gold trades on the TSX Venture Exchange as RVG and on the OTCQX as RVLGF.

Here’s what you need to know today. 

Tocvan Ventures has released results from ten new holes confirming gold-silver mineralization along the full 1,300-metre El Mezquite trend at its Gran Pilar project in Sonora, Mexico, led by hole JES-26-162, which returned 247 metres from surface grading 0.10 grams per tonne gold and 2.61 grams per tonne silver, including 10.68 metres at 0.43 grams per tonne gold. The trend sits 1.6 to 1.9 kilometres from the planned pilot heap-leach facility with existing road access, and first gold-silver dore is targeted in Q4 2026. Tocvan Ventures trades on the CSE as TOC and on the OTCQB as TCVNF. NEWS RELEASE

1911 Gold has reported high-grade results from the L10 Zone at its True North Gold Project in Manitoba, intersecting 10.73 grams per tonne gold over 8.90 metres and 50.61 grams per tonne gold over 1.60 metres, with the results confirming a structural link to the larger 710-711 Zone. The company is advancing True North toward 2027 production with underground development now underway, backed by a $35.65 million bought deal closed in July. 1911 Gold trades on the TSX Venture Exchange as AUMB and on the OTCQX as AUMBF. NEWS RELEASE

Gold X2 Mining has delivered the first two results from its 21-hole QES Deeps campaign at the Moss Gold Project in northwest Ontario, with hole MQD-26-474 returning 173 metres at 0.89 grams per tonne gold from 685 metres depth and hole MQD-26-465 returning 227 metres at 0.73 grams per tonne, both drilled 75 to 100 metres below the current open-pit shell. The results demonstrate that the core shear zone extends meaningfully at depth, pointing to real expansion potential below the existing resource. Gold X2 Mining trades on the NYSE American and the TSX Venture Exchange both under the symbol AUXX. NEWS RELEASE

Hemlo Mining has reported new high-grade results from the South-Rim Zone at the Hemlo Gold Mine near Marathon, Ontario, including 89.9 grams per tonne gold over 3.0 metres and 14.81 grams per tonne over 10.0 metres, with drilling now confirming approximately 500 metres of mineralization within the interpreted 1.5-kilometre zone just 50 to 150 metres from active C-Zone infrastructure. None of these results were included in the June resource estimate, meaning the entire South-Rim body is additive to future resource growth. Hemlo Mining trades on the TSX as HMMC and on the OTCQX as HMMCF. NEWS RELEASE

Sierra Madre Gold and Silver has completed commissioning of twin 1,500-kilowatt diesel generators at its producing La Guitarra silver-gold complex in Mexico, eliminating a production bottleneck that cost the company 278 hours of lost output to grid power outages in the first eight months of the year. The company's COO said the financial impact of those outages is now expected to be behind them. Sierra Madre Gold and Silver trades on the TSX Venture Exchange as SM and on the OTCQX as SMDRF. NEWS RELEASE

Coppernico Metals has signed a Phase 2 drilling contract with AK Drilling for a minimum 5,000-metre program at its Sombrero copper-gold project in Ayacucho, Peru, targeting the Fierrazo copper skarn across a 57,000-hectare land package in the Andahuaylas-Yauri belt. Mobilization follows final government authorization expected in the coming months, with strategic backer Teck Resources holding a 9.9% stake in the company. Coppernico Metals trades on the TSX as COPR and on the OTCQB as CPPMF. NEWS RELEASE

Cabral Gold has announced the first gold pour at its Cuiu Cuiu Phase 1 mine in the Tapajos region of Para, Brazil, producing approximately 1,130 ounces of gold dore and making Cuiu Cuiu the newest producing gold mine in Brazil. Commissioning is nearing completion ahead of schedule, and the company is focused on ramping to 3,000 tonnes per day stacking with commercial production targeted by year-end. Cabral Gold trades on the TSX Venture Exchange as CBR and on the OTCQX as CBGZF. NEWS RELEASE

Talon Metals has released assay results from the record 46.43-metre Vault Zone intercept at the Tamarack Nickel-Copper-Cobalt Project in Minnesota, with drill hole 25TK0562A returning 13.37% nickel, 16.54% copper, 0.10% cobalt, and precious metals across the interval for a combined grade of 54.78% copper equivalent — the longest massive and mixed massive sulphide intercept ever reported at Tamarack. The hole was drilled approximately 50 metres southwest of the Vault Zone discovery hole and continues to expand a system that Talon is actively step-out drilling at depth and laterally. Talon Metals trades on the TSX as TLO and on the OTC market as TLOFF. NEWS RELEASE

The Mining Stock Daily morning briefing is produced by Clear Commodity Network. It is distributed throughout the world through your podcast network of choice, and at Clear Commodity Network.

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