Morning Briefing: Hercules Metals Intersects 0.58% CuEq over 287 m

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 today is Wednesday, September 30th.

Metals are trading in a mixed and narrow range this morning. Gold is essentially flat at $4,190 an ounce, up just a fraction of a percent. Silver is giving back some of yesterday's bounce down about 1.25% to $60.70, and copper is up slightly to $6.56 a pound. After the sharp pullback Monday and the recovery Tuesday, the market appears to be consolidating. On the corporate front, Barrick Mining CEO Mark Hill flagged a potential delay to the company's planned North American Gold IPO during the gold conference in Colorado Springs yesterday. Barrick had been targeting a New York listing of its North American assets by the end of this year, but Hill said there have been some delays working through formalities ahead of the listing, and the IPO could slide into January. He was quick to add that it remains on track and any delay would not be significant.

In the energy markets, Wall Street analysts are reporting that oil flows through the Strait of Hormuz are closing in on pre-war levels, meaning a meaningful increase in supply is working its way into the global market. Crude oil is still trading around $100 a barrel, so the question the market is asking is how quickly that additional supply can move prices lower, and whether the recovery in flows holds. For gold investors, easing energy prices would remove one of the inflationary pressures that has kept oil elevated alongside metals this year. We'll 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 Equinox Gold. Equinox Gold is North America's new senior gold producer with six operating mines and the capacity to produce approximately 1.1 million ounces of gold annually. The portfolio spans three cornerstone Canadian operations, including Greenstone and Musselwhite in Ontario, and Valentine in Newfoundland and Labrador, along with the Mesquite in California, Camino Rojo in Mexico, and operations in Nicaragua. The company is also advancing four expansion projects that are expected to deliver more than 800,000 ounces of additional annual gold production over the next five years. Equinox Gold trades on the TSX and on the NYSE American, both under the ticker symbol EQX.

Justin Hewn (3:00)

Hey everyone, Justin Hewn of Uranium Insider here, inviting you to check out the Going Nuclear podcast, co-hosted by yours truly and Trevor Hall, and produced by the Clear Commodity Network. Each episode, we dive deep into the Uranium sector and the fast-evolving world of nuclear energy and uranium investment. From supply dynamics to policy developments and market trends, we bring you the insights that matter most to energy investors and industry watchers.

You can find Going Nuclear on Apple podcasts, Spotify and at clearcommodity.net. Clear Commodity Network, digital news on the physical markets.

Trevor Hall (3:41)

And here's what you need to know this morning. Hercules Metals has released assay results from a 200-meter stepout hole at the southern flats zone of its Hercules project in Western Idaho. It's extending the second copper porphyry center discovered at the property with 287 meters of 0.58% copper equivalent, but included 66 meters in there of 0.8% copper equivalent. Three-dimensional modeling now suggests southern flats may be an approximate one kilometer southern extension of the Leviathan copper porphyry system, meaning the two centers could be continuous along the same regional fault structures. Two drill rigs are currently working to fill a one kilometer gap in drilling between Leviathan and southern flats. Hercules Metals trades on the Venture Exchange with BIG and on the OTCQB with BADEF.

Arizona Gold and Silver has reported job results from two holes testing the down-dip continuation of the Perry zone beneath Red Hills at its Philadelphia Gold-Silver Project in Mojave County, Arizona. Hole 173 intersected 43.5 meters of 1.48 grams per ton gold and 7.2 grams per ton silver, and that included 21.8 meters of 2.5 grams per ton gold and a higher-grade core of 7 meters of 4.24 grams per ton gold. Hole 172 intersected a broader 70.4 meters of 1.16 grams per ton gold with internal zones up to 10.2 meters of 3.27 grams per ton. The company is using the geometry, grade distribution and silver to gold ratios from each hole to refine the projected position of the north plunging high-grade up flow zone with additional drilling ongoing. Arizona Gold and Silver trades on the venture exchange with AZS and on the OTCQB with AZASF.