Morning Briefing: Aldebaran Resources Drills Longest Intercept in History of Altar

SPEAKER_1 (0:02)

Good morning, and welcome back to the Mining Stock Daily Morning Briefing, presented by the Clear Commodity Network, and delivering today's top news in mining and mineral exploration. From the new ClearCom studios, here's your host, Trevor Hall.

Trevor Hall (0:18)

Good morning, everybody. Welcome back to the Mining Stock Daily Morning Briefing. This is Trevor Hall, and we're kicking off Monday. It's October 5th. Silver is leading the Metals Complex today, up just over 2% to $61.66 an ounce. Gold's up about 4 tenths of a percent to $4,155.

And Copper's also moving higher, up roughly 9 tenths of a percent to $6.55 a pound. On the macro side, Glencore said Friday that its Commodity Marketing Division expects to generate more than $5 billion in profit this year, which would make it the best year for the unit since the energy market disruptions that followed Russia's 2022 invasion of Ukraine. The company credited the on-going conflict involving Iran, which has caused significant volatility in crude oil and natural gas markets, and created freight disruptions in the Strait of Hormuz corridor. Alongside rising copper and coal prices were also contributed to those numbers. And in Mining M&A, China's antitrust regulator has told Anglo-American and tech resources that it will require commitments to maintain copper concentrate supply to China as a condition for approving their proposed $54 billion merger. This is all according to Reuters. The deal has received regulatory clearance everywhere else. It has been reviewed. China processes roughly 60% of global copper cathode and is currently experiencing its worst feedstock shortage in decades, which gives Beijing an effective veto power over the transaction. The combined entity would account for approximately 5% of global mined copper supply. The deal is expected to close in early 2027 if the parties can reach agreement with the Chinese authorities.

We will get to the news out of the miners and explorers here in just a moment, but first a quick mention of today's sponsor.

Today's morning briefing is brought to you by Integra Resources. Integra is a growing precious metals producer in the Great Basin of the Western United States. They are focused on demonstrating profitability and operational excellence at its principal operating asset, the Florida Canyon Mine in Nevada. In addition, Integra is committed to advancing its flagship development stage heap leach projects, including Delamar in Idaho and the Nevada North Project in Western Nevada. Learn more about the business and their high industry standards over at integraresources.com.

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Clear Commodity Network, digital news on the physical markets.

Trevor Hall (3:32)

And here's what you need to know this morning. Aldebaran Resources has drilled the longest intercept in the history of the Altar Copper-Gold Porphyry project in San Juan, Argentina, with a single hole returning 1,728.9 meters, averaging 0.45% copper equivalent. In there included a higher-grade interval of 756 meters of 0.68% copper equivalent, or 0.61% copper. Altar is one of the largest undeveloped porphyry copper-gold systems in South America. Aldebaran Resources trades on the venture exchange with the symbol ALDE.

Argenta Silver has reported drill results from two separate targets at its silver project within the resource expansion drilling area, returning 1,599 grams per tonne silver over 4 meters, and that included 2,780 grams per tonne over 2 meters. It's among the highest-grade silver intersections the company has reported. A separate hole at the company's copper-gold target returned 0.45 grams per tonne gold and 0.19% copper over 46 meters, demonstrating polymetallic potential across the property. Argenta Silver trades on the venture exchange with AGAG.

Onyx Gold has confirmed a new sediment-hosted gold zone at the Flipper Target on its Monroe-Carices property, 75 kilometers east of Timmins, Ontario, with a six-hole first-pass programming return, excuse me, program returning broad gold mineralization three kilometers south of the company's Argus Gold system. The best hole, which is hole 277, intersected 0.7 grams per tonne gold over 46.7 meters and included four grams per tonne over five meters and 13.5 grams per tonne over one meter. Hole 284 returned 4.1 grams per tonne over three meters and 0.3 grams per tonne over 35 meters. The results opened an interpreted multi-kilometer structural corridor along the Argus Fault. Then the company says the Flipper Zone demonstrates that the sedimentary package south of Argus can host broad gold systems at the district scale. Onyx Gold trades on the Venture Exchange with ONYX and on the OTC QX with ONXGF.