Morning Briefing: Equinox Gold Shares Canadian Exploration Success

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 (0:17)

Hey, good morning, everybody. Welcome back to the Mining Stock Daily Morning Briefing. This is Trevor Hall, and today is Tuesday, September 29th. Gold ended yesterday down roughly 4 percent, as crude oil prices and bond yields climbed in tandem, putting pressure across commodities and risk assets alike. This morning, the metals are bouncing back. Gold is trading at $4,154 an ounce. It's up about 1 percent. Silver is up about half a percent to $60.92, and copper is essentially flat at $6.56.

Bain and Company released its 7th Annual Global Technology Report this morning. The headline reports shows funding AI's compute demand would require $6 trillion in annual revenue by 2031 Bain finds the existing AI applications such as consumer subscriptions, enterprise software, and advertising account for only 1.2 to 1.8 trillion of that, meaning the remaining $4.2 trillion has to come from entirely new categories. It would require AI displacing traditional search, autonomous vehicles, and industrial systems. Physical AI like robotics and digital twins as well, but the markets that simply don't exist yet also need to come into play. The report also found that AI has compressed the time to execute a typical cyber attack from roughly 4 weeks down to about 18 hours.

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

The morning briefing today is brought to you by Visa Silver. Visa Silver is advancing the PANUCO Silver Gold Project in Sinaloa, Mexico. It's one of the highest grade silver development projects in the world. PANUCO hosts the world's largest undeveloped high-grade silver resource. You can learn more at VisaSilver.ca.

Rory Johnston (2:24)

Hi, I'm Rory Johnston, host of the Oil Ground Up podcast. I'm also the founder of Commodity Context and have been an oil market analyst for more than a decade. What I love about the oil industry is that it is both unquestionably essential to our modern life and the supply, demand and pricing of this indispensable product is driven by an ever-changing cornucopia of geological, geopolitical and technological developments.

Listen as I speak with experts across the industry to explore everything you've always wanted to know about what's moving the market for black gold. Find the Oil Ground Up podcast on Apple Podcasts, Spotify and at clearcommodity.net. Brought to you by the Clear Commodity Network, digital news on the physical markets.

Trevor Hall (3:19)

And here's what you need to know today. Equinox Gold has released a Canadian exploration update with the headline results coming from Musselwhite in Northwestern Ontario, where deep directional drilling has confirmed high-grade mineralization roughly two kilometers beyond current mining operations, including intercepts of 22.9 meters averaging 10 grams per ton gold and 20.5 meters averaging 7.31 grams per ton. At Valentine in Newfoundland, the new Minotaur Discovery 8 kilometers northwest of the mill has been traced to more than one kilometer of strike length, with 27.3 meters averaging 2.11 grams per ton, among the latest results. Equinox Gold trades on the TSX and the NYSC American, with the symbol EQX.

Kenorland Minerals has reported complete assay results from the first drilling at the Frotet project in northern Quebec since December 2025's made-in-inferred resource of 2.5 million ounces at 5.5 grams per ton gold. The standout results are step-outs drilled outside the current resource boundary. A 73.4 meter intersection of 2.24 grams per ton along the R11 vein trend, and a 2.3 meter interval at 71.89 grams per ton, including 0.6 meters of 252 grams per ton. Both indicate that the known high-grade trends extend well beyond the current resource footprint. Kenorland holds a 4% net smelter return royalty on the project, which is operated by Sumitomo Metal Mining in Canada. Kenorland Minerals trades on the TSX Venture Exchange with KLD, and on the OTCQX with KLDCF.

Brixton Metals has reported the final drill results from the Camp Creek High Sulphidation Target at its wholly owned Thorn Project in British Columbia after completing 15-hole campaign at the Glen Fittich Zone and extending it to 580 meters along strike, 350 meters down dip. The standout result is hole 385, which returned 17 and a half meters of 1.47 grams per ton gold equivalent, including 1.1 meters of 13.39 grams per ton gold equivalent with that high-grade interval carrying 5.78 grams per ton gold, 405 grams per ton silver and almost 2% copper. Hole 371 delivered a broader 58 meter zone of 0.5 grams per ton gold equivalent, confirming consistent near-surface mineralization across the drilled area. Drilling is now complete for the season and a maiden mineral resource estimate covering both the high-sulfidation zone and the deeper Camp Creek core free is underway with Apex Geoscience with the results expected in the first quarter of 2027 Brixton Metals trades on the Venture Exchange with BBB and on the OTCQX with BBBXF.