Core Insights - Apollo Silver Corp. announced an updated independent Mineral Resource estimate for its Calico Silver Project, revealing a 61% increase in Measured & Indicated silver tonnes to 55 million tonnes at a grade of 71 g/t, totaling 125 million troy ounces of silver, which is a 14% increase in silver ounces compared to the previous estimate [1][5][37] - The updated resource includes inaugural estimates for barite and zinc, which are now categorized as critical minerals in the US, enhancing the project's overall value and development potential [4][5][37] Mineral Resource Estimate - The 2025 Mineral Resource Estimate (MRE) for the Waterloo property includes 125 million ounces of silver in 55 million tonnes at an average grade of 71 g/t in the Measured & Indicated categories, and 0.51 million ounces of silver in 0.6 million tonnes at an average grade of 26 g/t in the Inferred category [5][37] - The Langtry property now contains 57 million ounces of silver in 24 million tonnes at an average grade of 73 g/t in the Inferred category [5][37] Additional Mineral Resources - The inaugural estimates for barite and zinc are as follows: - Indicated: 36 million tonnes at 7.4% BaSO4 and 0.45% Zn, totaling 2.7 million tonnes of BaSO4 and 354 million pounds of Zn - Inferred: 17 million tonnes at 3.9% BaSO4 and 0.71% Zn, totaling 0.65 million tonnes of BaSO4 and 258 million pounds of Zn [6][7][37] - Gold resources have increased by 86% in the Inferred category, totaling 0.13 million ounces in 17 million tonnes at a grade of 0.25 g/t [6][7] Economic Viability - The project features a low strip ratio of 0.8:1 for the Waterloo deposit, indicating favorable conditions for economic extraction [6][8] - Sensitivity analyses demonstrate the resilience of the silver resource to changes in metal prices, suggesting a robust economic outlook for the project [6][8] Future Development Plans - The company plans to conduct a Preliminary Economic Assessment (PEA) to further evaluate the project's potential, with a focus on the newly identified critical minerals [4][5] - There is strong potential for further discoveries at Calico, particularly in areas that remain untested under Quaternary cover and along strike [6][8]

Core Insights - Allied Critical Metals Inc. has reported significant drilling results from its Borralha Tungsten Project, with drill hole Bo_RC_14/25 intersecting 12.0 metres at 4.27% WO3, including 6.0 metres at 8.39% WO3, marking one of the highest-grade tungsten intercepts in Western exploration [4][12][24] - The tungsten price has reached a new high of $545 USD/MTU, reflecting a 40% increase over the past four months due to rising demand and supply chain restrictions from non-Western countries [2][4] Company Developments - The ongoing 4,200-metre Reverse Circulation drill program at Borralha is aimed at updating the Mineral Resource Estimate (MRE) and conducting advanced metallurgical testing, with a Preliminary Economic Assessment (PEA) targeted for completion later this year [1][3][24] - As of July 30, 2025, approximately 2,500 metres of drilling have been completed across nine drill holes, with operations resuming on September 1, 2025, after a temporary pause due to seasonal fire safety restrictions [3][28] Technical Progress - The drilling program has confirmed the presence of high-grade tungsten mineralization, with visual observations of wolframite supporting the interpretation of a potentially enriched corridor within the breccia-hosted system [7][12] - The company plans to complete an additional 1,528 metres of drilling in the fourth quarter of 2025 to build on the successes achieved in July [1][27] Strategic Positioning - The Borralha Project is positioned as a critical asset for Western countries' strategic raw material supply, especially as tungsten is designated a Critical and Strategic Raw Material by both the European Union and the United States [24][32] - The project addresses supply vulnerabilities amid rising global demand and constrained Chinese exports, making it a key player in supporting defense readiness and other critical sectors [24][31]

Highlights $26 million flow-through financing completed in August 2025.Drilling at the Cisco Project has been ongoing since June 2025, and a total of 46 holes for 20,138 metres has been drilled to date. Assays are pending on all drill holes completed this summer.Three (3) drill rigs are currently operating at Cisco with a fourth expected to commence operation in November.Current drilling is focused on infill scale spacing of the main mineralized zone as the Company works towards an initial inferred Mineral ...

Core Insights - The Haib Copper Project is positioned as a scalable, low-risk, and low-cost open-pit mining operation with a projected mine life of 23 years and annual payable copper production of 92,000 tonnes [2][5][7] - The Preliminary Economic Assessment (PEA) indicates a post-tax NPV of US$1.351 billion and an IRR of 20.1%, highlighting the project's strong financial viability [5][10] - The project is located in southern Namibia, an area with rich infrastructure, and is under new management aiming to optimize and de-risk the project [2][7] Financial Overview - The PEA estimates an upfront construction capital of US$1.559 billion and sustaining capital of US$543 million over the life of the mine [5][12] - Average C1 cash costs are projected at US$1.81 per pound for the first ten years, with an AISC of US$2.05 per pound [5][12] - The project has a capital intensity of US$16,871 per tonne of annual payable copper production for the first ten years [5][12] Production and Recovery - The project plans to produce copper and molybdenum concentrates through a conventional milling and flotation process, with additional copper cathode production via heap leaching [5][7] - The average recovery rates are estimated at 89% for milling and flotation and 74% for heap leaching [5][12] - The total mineralized material mined is projected to be 779 million tonnes, with a copper grade of 0.309% [14][41] Environmental and Social Considerations - The permitting process is underway, with a mining license application submitted and positive public perception regarding job creation and economic development [5][7] - Environmental and social impact assessments are progressing positively, indicating a supportive community for the project [5][7] Technical and Operational Aspects - The project is designed to process 28 million tonnes per annum through conventional methods, with a hybrid solution for water sourcing [5][12] - The technical team has a strong track record in mine development in Namibia, enhancing the project's credibility [7][8] - Ongoing drilling and metallurgical testing are expected to unlock further upside in terms of size and grade improvements [4][5]

Core Viewpoint - Amex Exploration Inc. has released an updated Preliminary Economic Assessment (PEA) for its Perron gold project, indicating strong economic viability with significant post-tax returns and a phased production strategy aimed at minimizing risks and costs [3][5][6]. Economic Highlights - The updated PEA assumes a gold price of US$2,500 per ounce and a C$/US$ exchange rate of 1.38:1, projecting a post-tax Internal Rate of Return (IRR) of 70.1% and a post-tax Net Present Value (NPV) of C$1,085 million [5][6][49]. - Cumulative undiscounted post-tax cash flow is estimated at C$1,768 million, with C$1,273 million generated in the first 10 years of production [6][49]. - The project anticipates an average gold production of 112,000 ounces per year over the first decade [6]. Production Strategy - The project will be developed in two phases: Phase 1 involves a 4-year toll milling operation with a low initial capital cost of C$146.1 million, while Phase 2 includes the construction of an on-site processing plant with a capacity of 2,000 tonnes per day [7][10][38]. - Phase 1 is expected to produce an average of 102,000 ounces of gold annually at an All-in Sustaining Cost (AISC) of US$1,165 per ounce [7][12]. - Phase 2 will have a life of mine (LOM) of 17.5 years, with an average annual production of 95,000 ounces and a LOM AISC of US$1,061 per ounce [10][12]. Financial Analysis - The PEA indicates that at a spot gold price of US$3,400 per ounce, the project could achieve a post-tax NPV of C$1,841 million and an IRR of 107.6% with a payback period of 0.4 years [50]. - The total initial capital expenditure (CAPEX) for Phase 1 is estimated at C$146.1 million, netting to C$77.5 million after accounting for pre-production revenues [37][38]. - Growth CAPEX for Phase 2 is projected at C$191.6 million, which includes the costs of building the processing plant and acquiring necessary equipment [38]. Environmental and Social Considerations - The project aims to minimize environmental impact by utilizing mined-out open pits for tailings storage, thus avoiding the need for a traditional tailings management facility [17][36]. - An environmental and social scoping study is underway to identify key risks and issues associated with the project, ensuring compliance with regulatory requirements [58][59]. Stakeholder Engagement - The company has established a relationship of trust with the local Abitibiwinni First Nation and prioritizes stakeholder engagement through regular communication and consultation [60][61]. - Active community participation is emphasized as a core value, with plans to establish working and consultation committees by the end of 2025 [61].

Core Points - Blackrock Silver Corp. has received C$4.24 million from the exercise of 9,830,880 common share purchase warrants since July 8, 2025, enhancing its financial position for project development [1][4] - The total number of common shares outstanding is now 325,490,026, following the warrant exercises [2] - The company has expanded its Eastern Resource Expansion drill program at the Tonopah West project by adding 7 drillholes, bringing the total to 22 drillholes and up to 7,000 meters of drilling [3][4] Financial Position - The C$4.24 million received from warrant exercises has strengthened the company's treasury, allowing for aggressive advancement of the Tonopah West project [4] - The company aims to upgrade a portion of the DPB-South inferred resources to higher confidence categories, with an updated mineral resource estimate expected in early September 2025 [4] Project Development - Drilling for the Eastern Resource Expansion program is progressing rapidly, with 19 out of 22 holes completed and assay results pending [3][4] - A further resource update focused on extending mine life is scheduled for Q1 2026 [4] Company Overview - Blackrock Silver Corp. is a junior precious metal exploration and development company, focused on its 100% controlled Nevada properties, which feature low-sulphidation, epithermal gold and silver mineralization [6]

Core Viewpoint - Amex Exploration Inc. has released an updated Preliminary Economic Assessment (PEA) for its Perron gold project, indicating strong economic potential with a post-tax IRR of 70.1% and a post-tax NPV of C$1,085 million at a gold price of US$2,500 per ounce [4][5][48]. Economic Highlights - The updated PEA incorporates the latest Mineral Resource Estimate and a new project development strategy, assuming a gold price of US$2,500/oz and a C$/US$ exchange rate of 1.38:1 [4][48]. - Cumulative undiscounted post-tax cash flow is projected at C$1,768 million, with C$1,273 million expected over the first 10 years of production [5][48]. - Average gold production is estimated at 112,000 ounces per year for the first 10 years, with a life of mine (LOM) total production of 1.66 million ounces [8][44]. Production Strategy - The project will be developed in two phases: Phase 1 involves a 4-year toll milling operation with a capacity of 1,000 tonnes per day (tpd), while Phase 2 will establish a 2,000 tpd on-site processing plant [6][21]. - Initial capital expenditure for Phase 1 is estimated at C$146.1 million, netting to C$77.5 million after accounting for pre-production revenues of C$68.6 million [36][48]. - The staged production strategy aims to minimize shareholder dilution and accelerate time to revenue, targeting production commencement in 2028 [6][7]. Financial Analysis - At a base case gold price of US$2,500/oz, the project generates a post-tax NPV of C$1,085 million and a post-tax IRR of 70.1%, with a payback period of 1.4 years [48][49]. - Sensitivity analysis shows that at a spot price of US$3,400/oz, the post-tax NPV increases to C$1,841 million and the IRR to 107.6%, with a payback period of 0.4 years [49][50]. Operating Costs - The LOM total operating cost is estimated at US$891 per ounce of gold produced, placing the project in the bottom quartile of the global gold cost curve [44][48]. - The average all-in sustaining cost (AISC) is projected at US$1,061 per ounce over the mine's life [44][48]. Infrastructure and Workforce - The project is located approximately 6.5 kilometers from Normétal, Quebec, and will require various infrastructure developments, including a processing plant and water management facilities [27][30]. - During steady-state operations, the workforce is expected to peak at 272 employees during Phase 1 and 335 during Phase 2 [31]. Environmental and Permitting - The project will undergo an environmental impact assessment as required by regulations, with ongoing studies to identify key environmental and social risks [56][57]. - Specific provincial and federal permits will be required for various project components once the environmental assessment is completed [58]. Stakeholder Engagement - The company has established a relationship of trust with the Abitibiwinni First Nation and prioritizes stakeholder engagement and communication throughout the project development [59][60]. Exploration Update - Amex has expanded its land holdings with the acquisition of the Perron West property, enhancing its exploration plans in the Normétal-Burntbush greenstone belt [61][62]. - Ongoing surface exploration work includes soil sampling and geological mapping, with results expected to inform future drilling programs [63].

Core Viewpoint - NevGold Corp. has initiated its 2025 drill program at the Limousine Butte Project in Nevada, focusing on the potential for oxide gold-antimony mineralization and aiming to advance towards an initial Mineral Resource Estimate [1][3]. Group 1: Drill Program Details - The company has commenced a 5,000 meter Reverse Circulation drill program targeting the Resurrection Ridge and Cadillac Valley areas, with the initial phase starting at Resurrection Ridge [4]. - This drill program is the first to focus on both gold and antimony at the project, utilizing a large historical drillhole database for delineation and expansion [4]. - The program is conducted under an approved Plan of Operations permit, allowing exploration of previously untested targets, which enhances mineralization expansion potential [4]. Group 2: Geological Insights - Recent construction activities have exposed new stibiconite outcrops, indicating strong geological potential on the eastern side of Resurrection Ridge, with mineralization open to the east [4]. - The technical team has developed a comprehensive understanding of the regional and project geology, which supports the advancement of the project [3]. Group 3: Company Strategy and Market Context - The company emphasizes its capability to rapidly advance project development due to its institutional knowledge and the favorable macroeconomic environment for domestic mineral projects in the United States [3]. - The focus remains on unlocking the gold-antimony potential at Limousine Butte, reflecting a commitment to high-quality mineral exploration and development [3].

Core Viewpoint - Fury Gold Mines Limited announced the results of a preliminary economic assessment (PEA) for the high-grade Eau Claire deposit, indicating strong economic potential and significant undervaluation in the market [1][2][11]. Economic Assessment - The PEA evaluated three scenarios based on a gold price of US$2,400 per ounce, showing exceptional internal rates of return (IRR) and net present values (NPV) [2][39]. - The Base Case scenario has an after-tax NPV5 of C$554 million and an IRR of 41%, while the Hybrid Case shows an NPV5 of C$610 million and an IRR of 53%, and the Toll Milling Case has an NPV5 of C$639 million with an IRR of 84% [7][39]. Production and Resources - The PEA outlines a total production of 834,367 ounces of gold over an 11-year life of mine (LOM), with an average annual production of approximately 75,852 ounces [3][7]. - The combined resource at Eau Claire and Percival is 6.39 million tonnes at 5.64 g/t gold, containing 1.16 million ounces in the Measured and Indicated category and 723,000 ounces in the Inferred category [2][12]. Mining Methodology - The project will utilize a hybrid mining approach, combining underground mining with two small open pits, with underground operations starting with a small bulk sample in year minus 1 [3][16]. - The underground operation is expected to produce 702,000 ounces of gold at an average diluted head grade of 5.22 g/t from 4.40 million tonnes of material [3][7]. Capital and Operating Costs - Initial capital expenditures are estimated between C$117 million and C$217 million, with sustaining capital of C$66 million [12][35]. - The all-in sustaining costs (AISC) are projected at US$1,140 per ounce for the Base Case, US$1,153 per ounce for the Hybrid Case, and US$1,170 per ounce for the Toll Milling Case [7][12]. Infrastructure and Environmental Considerations - The project benefits from strong infrastructure, including access to hydro power and roads, which enhances its attractiveness [2][27]. - The Eau Claire project will undergo a provincial Environmental and Social Impact Assessment (ESIA) as part of its development process [42][43]. Indigenous Relations - The company emphasizes its commitment to building effective relationships with Indigenous communities, with approximately 25% of the project team comprising local Indigenous members [44][45]. Next Steps - Fury plans to advance the Eau Claire deposit through further environmental baseline studies, tailings management, and metallurgical testing [47][53].

Core Insights - Kodiak Copper Corp. has reported additional drill results from its 2025 drill program at the MPD copper-gold porphyry project, confirming high-grade mineralization at the Adit Zone [1][4][3] - The drilling program successfully extended the historic mineralized envelope and is designed to infill and confirm shallow mineralization [3][4] Summary by Sections Drill Results - The Adit Zone drilling included nine reverse circulation (RC) holes totaling 850 meters, with significant intersections reported [1][4] - Notable drill intersections include: - RC-AXE-25-026: 0.63% Cu, 0.05 g/t Au, and 4.13 g/t Ag (0.69% CuEq) over 78.6 meters, with a higher-grade interval of 1.59% CuEq over 26.8 meters [4] - RC-AXE-25-028: 0.42% Cu, 0.03 g/t Au, and 3.44 g/t Ag (0.46% CuEq) over 93 meters [4] - The Adit Zone has been intersected over a strike length of approximately 550 meters and remains open in multiple directions [4] Project Development - The current drill program aims to test near-surface mineralization for resource modeling, with most holes ending in mineralization [4] - Final results from the 2025 drill program are expected in late Q3, which will support a Resource Estimate for the Adit Zone as part of the initial Mineral Resource Estimate (MRE) planned for Q4 2025 [4] Company Overview - Kodiak Copper is focused on its 100% owned copper porphyry projects in Canada and the USA, with the MPD project being the most advanced asset [17] - The MPD project is located in a mining district with producing mines and excellent infrastructure, exhibiting potential for large-scale deposits [17] - The company plans to deliver an Initial Resource estimate for MPD in 2025, incorporating results from the ongoing exploration program [17]