Morning Briefing: Cascadia Minerals Extends Mineralization with New Drill Results

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. I'm Trevor Hall, and we are wrapping up the week today and into tomorrow. But for now, gold is up 0.6% from yesterday, setting at $4,184 an ounce. Silver is up just over 1% to $61.09. Copper is pulling back slightly to $6.52, off about 0.6%.

And copper is a big part of the headline mining news today. First Quantum Minerals saw its shares fall sharply yesterday after Panamanian Ministerial Commission recommended to President Molino that the Cobre Panama mine be restarted rather than closed immediately. But the panel proposed negotiating a restart that would generate revenue to fund an eventual orderly closure at no cost to the state. According to the commission's report, the 2023 Supreme Court ruling that found the mining contract unconstitutional may not have prohibited mining activity itself, potentially leaving room for a new legal framework. Any deal would require a definitive closure date with no renewal and resolution at roughly $27 billion in pending international arbitration.

First Quantum said it would engage constructively and in good faith.

Furthermore, at the world's largest copper mine, supervisors are heading toward a potential work stoppage. The 1,000-member Supervisors Union at BHP's Escondida Mine in Chile voted 95% in favor of strike action after rejecting the company's final contract offer. With members saying the offer showed a complete disregard for the contribution of one of the most profitable mining operations in the world. Under Chilean law, the parties must now enter a mandatory five-day government-led mediation period before a strike can legally begin. Escondida produces approximately 1.5% of global copper supply.

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 Revival Gold. Revival is one of the largest pure gold mine developers operating in the United States. The company is advancing the Merkur Gold Project in Utah and mine permitting preparations and ongoing exploration are active at Bear Trek Arnett in Idaho. Revival Gold is listed on the Venture Exchange with the ticker symbol RVG and trades on the OTCQX market with RVLGF. Learn more about the company at revivalgold.com.

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Trevor Hall (3:40)

And here's what you need to know this morning. Cascadia Minerals has reported three step-out drill holes from the Zone 2000 S extension at its CarMax Copper Gold Project in Central Yukon. With results the company describes as among the best grades ever drilled on the property. Hole 58 intersected 75.5 meters of 1.19% copper and 0.97 grams per tonne gold for a 2.18% copper equivalent. That also included 48.6 meters of 3% copper equivalent. Two additional holes extended the Zone 142 meters to the northeast and to approximately 430 meters below surface, the deepest point tested in this part of the deposit, with mineralization remaining open in multiple directions. Together, the three holes have confirmed the Zone 2000 S extends at least 300 meters beyond the 2022 resource boundary, effectively doubling the Zone's drilled strike length toward Zone 147, located 600 meters to the north. Cascadia Minerals trades on the Venture Exchange as CAM and on the OTCQB with CAMNF.

Scorpio Gold has announced the start of its first systematic diamond drill program at the April Fool target at its Manhattan project in Nevada's Walker Lane trend, following a sampling campaign that returned 47 of 48 grab samples with detectable gold and a peak result of 59 grams per ton. The company says April Fool shares the same geological setting as its Zanzibar trend, where a structural reinterpretation earlier in 2026 delivered high-grade intercepts, including 3.14 grams per ton over 49.6 meters. A drill rig mobilized to site this weekend. First assay results are expected by the end of this month. Scorpio Gold trades on the NASDAQ capital market and the TSX Venture Exchange as SGLD. It still trades on the OTCQBS SRCRF.

Gold Hart Copper has announced assay results from its fourth and final diamond drill hole at the Tolita Project in Chile's Vicuña district. And despite the hole showing significantly less surface veining than prior holes, it returned more than 340 meters of gold and copper pore-free style mineralization from the 551 meter hole. It included 108 meters of 0.21 grams per ton gold equivalent from surface and a second interval of 231 meters of 0.16 grams per ton. Three of the four holes have now returned at least 300 meters of mineralization and all four have returned more than 100 meters with only 5% of the Tolita anomaly tested by drilling. The company says it has received interest from potential partners for the next phase of work. The company has also applied for a mining concession at Copioso. It's a historic gold, copper and silver mine in Chile, where positive confirmations have been received from Chilean courts. And the company says they've already begun planning exploration scenarios for the asset.