Morning Briefing: Collective Mining Extends Apollo Ramp Zone and K2 Gold Reports Strong Dragonfly 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.

Ian Wagner (0:18)

Good morning, and welcome back to the Mining Stock Daily Morning Briefing. I am your host for the day, Ian Wagner, filling in for Trevor Hall. It is Tuesday, October 20th. Precious metals weakened again on Monday, as gold closed down about $20 to settle at $4,160 an ounce on the futures basis, while silver bounced around and remained mostly in the $57 handle. Geopolitically, US President Donald Trump waved some Russian sanctions, raising expectations of more Russian fuel exports and easing oil prices. The World Bank also identified several mineral sector partnerships with 20 countries and plans to increase sector support to $19 billion by 2030 As of recording this morning, gold is trading around $4,136 down again, silver is hovering above $57, and copper is basically unchanged at $6.57 per pound.

We will get to the news from the miners and explorers here in a moment, but first a mention of today's sponsor. Today's episode of Mining Stock Daily is brought to you by Vizsla Silver. Vizsla Silver is advancing the Panuco Silver Gold Project in Sinaloa, Mexico, one of the highest grade silver development projects in the world. The project hosts the world's largest undeveloped high grade silver resource, and the company has been aggressively expanding the drill program to grow that resource ahead of a development decision. Learn more at vizslasilver.ca.

Here is what you need to know today. Collective Mining has extended the ramp zone at its Guayabales project in Colombia, stepping out 340 meters along the previously untested northwest margin of the Apollo Brecha. Two holes about 120 meters apart return gold equivalent intervals, including 12 meters, grading 11.3 grams per ton, and 54 meters, grading 2.8 grams per ton. A deeper hole drilled roughly 80 meters below logged visible gold, and assays are pending. The company also reported new high-grade gold veins in previously undrilled ground outside the Brecha. Ramp Zone Northwest remains outside the resource, and drilling is needed to establish continuity. Collective says assays from 95 holes are pending. Collective Mining trades on the Nasdaq and the Toronto Stock Exchange under the ticker CNL.

K2 Gold reported strong results from drilling at Dragonfly in its Mojave project in California, including a broad 84-meter interval grading 3.4 grams per ton gold, with a higher-grade 20-meter section averaging 7.5 grams per ton. The result adds to the company's 2026 drilling, which has outlined multiple stacked gold-bearing structures at Dragonfly. K2 says mineralization remains open in all directions, while much of the surrounding structural corridor remains untested. The company has described the gold as oxide mineralization and earlier reported high gold solubility in samples from the zone. The latest results add to Dragonfly's exploration potential. K2 Gold trades on the TSX Venture Exchange under the symbol KTO. It also trades on the OTCQX under the symbol KTGDF.

Fortune Bay completed an Ausenco study comparing on-site gold dore production with making gold concentrate for off-site treatment at its Goldfields project in Saskatchewan. Dore offers modestly higher gold recovery, while the concentrate option could simplify the initial plant, lower upfront capital and supported stage development. The company will combine the study with recent metallurgical results and further testing alongside environmental, engineering and commercial work as it advances towards a pre-feasibility study. It has not selected a preferred processing route and more work is needed to confirm recovery, concentrate quality and commercial terms. Fortune Bay trades on the TSX venture under the symbol FOR and on the OTCQB under the symbol FTBYF.

Cabral Gold reported that drilling has extended the central deposit at its Cuiu Cuiu district in Brazil with mineralization continuing at depth in a long strike. A highlight was an 8-meter interval grading 2.5 grams per ton gold, including a narrow, higher-grade section. Drilling at central north, about 400 meters north of central, also intersected gold, supporting the company's view that mineralization extends beyond the current deposit. Cabral is updating resources across several deposits at Cuiu Cuiu with an estimate expected by the end of the year. The results add to exploration upside as the company advances its oxide operation towards commercial production. Cabral Gold trades on the TSX venture under the symbol CBR and on the OTCQX under the symbol CBGZF.

White Gold reported new drilling that expanded the high-grade core at Golden Saddle and extended high-grade mineralization at the VG deposit in the Yukon. At Golden Saddle, a 38-meter interval grading 1.5 grams per ton gold included 8 meters at 5.1 grams per ton extending the core about 50 meters west. At VG, drilling returned 19 meters at 2.5 grams per ton and extended mineralization 90 meters down plunge to 320 meters across 150 meters of strike. The results point to further growth potential at both deposits as the company advances its white gold project. Shares trade on the TSX venture under the symbol WGO and on the OTCQX under the symbol WHGOF.