Morning Briefing: Treasury Yields Surge, Collective Mining Hits a New Tungsten-Gold Zone

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

It’s Thursday, September 24. 

It’s a red day for the markets, after treasury yields spiked and macroeconomic data is pushing the Fed to remain hawkish. 

As of 9 a.m. ET the Dow, S&P and Nasdaq futures are all in the red. 

Yesterday's stronger-than-expected S&P Global Flash PMI data showed resilient economic growth and surging input costs, which drove U.S. Treasury yields to multiyear highs.

The 10-year U.S. Treasury yield climbed to 5.11%.

The rise in treasury yields has come at the expense of gold, which dropped below its near-term support level of $4,300 an ounce after recovering.

Crude oil futures are at $93.70, up 1.67%, while copper is at $6.75. 

Bitcoin is having a good September. The asset is up 10% for the month and trading at $84,120. 

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 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-dash-gold.com

Here’s what you need to know today. 

Collective Mining's APC150-D4 hit a new style of tungsten-gold mineralization in schist outside the Apollo breccia body, returning 8.15 metres at 14.82 g/t AuEq from 927 metres below surface, about 680 metres beneath the shallow tungsten zone in the block model and in a unit that remains largely untested. The four-hole release also reports 13 new high-grade veins, seven of them outside the block model, though most are narrow at roughly one metre, headlined by 1.15 metres at 57.98 g/t AuEq in APC-171D, while Ramp Zone mineralization was extended only about 35 metres westward after two holes stopped short in difficult ground (NASDAQ: CNL).  News Release

OceanaGold reported 16 new holes at Wharekirauponga, led by 6.3 metres at 97.2 g/t gold and 8.5 metres at 41.5 g/t gold at estimated true width, extending a southern high-grade zone that still sits outside reported reserves. At the Waihi North Project, decline development has advanced about 350 metres since May, the water treatment plant began staged commissioning in September, and early tailings works are slated for the fourth quarter, though the twin tunnel toward the orebody awaits a second jumbo in the first half of 2027 (TSX: OGC). News Release

Nine Mile Metals' hole WD-26-14 at the past-producing Wedge Mine in the Bathurst Camp cut 14.15 metres of true width grading 5.09% Cu-Eq, including 6.00 metres at 7.45% Cu-Eq, with grades strengthening toward the bottom of the intercept. Copper itself averages 2.10% across the full interval, less than half the equivalent grade, with zinc at 4.85%, gold at 0.84 g/t and silver at 42.31 g/t doing much of the work, and the calculation assumes a uniform 95% recovery for all five metals, which the company concedes is premature (CSE:NINE). News Release

Blossom Gold's third batch of 2026 results at Rosebud in Nevada was led by 44.8 metres at 1.22 g/t gold in the South Zone and 106.8 metres at 0.42 g/t gold in the East Zone, while near-surface RC drilling returned 60.1 metres at 0.33 g/t gold from surface in oxide material. The broad intercepts support the open-pit, heap-leach thesis, but most grades sit below the existing Inferred resource average of 0.62 g/t gold, the East Zone intercepts are in non-oxidized rock that may not suit heap leaching, and the maiden Northwest Zone hole returned just 0.20 g/t over 18.5 metres (TSX: BGAU). News Release

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