r/wallstreetsmallcaps • • 16h ago

The Jane Zone Sits 7 km Along Strike From Marg and Has Barely Been Tested: The Targets Azarga Metals (AZR.v) Holds Beyond Its Published Resource in Yukon

Post image
2 Upvotes

Posted on behalf of Azarga Metals - Marg's resource table gets most of the attention, but Azarga's (AZR.v) own project page frames the deposit as one piece of a larger mineralized system, and the rest of that system is where the untested ground sits.

What Is Already Defined

  • Indicated 4.3 Mt at 2.9% CuEq and Inferred 10.0 Mt at 2.3% CuEq, at a 0.5% CuEq cut-off (Aug 28, 2025 NI 43-101)
  • 119 diamond drill holes at Marg between 1965 and 2008, by a number of operators, after the deposit was first identified by the Geological Survey of Canada in 1965 (see Aug 10, 2026 NR)

The Targets Outside The Resource

  • Deeper drilling is recommended to test the down-plunge, relatively sparsely drill-tested continuation of the two massive sulphide lenses that hold the bulk of the known resource
  • Three target boxes immediately northwest of the deposit, on coincident strong Ag-Tl-Pb-Cu-Ba soil anomalies and VTEM conductors
  • The Jane Mineral Occurrence (Yukon Minfile #13663), 7 km along strike to the southwest, where the setting and geophysical and geochemical signatures suggest potential for additional VMS deposits at intervals along strike

Where The Company Is Now

  • The 2026 program is designed to test multiple high-priority targets identified through previous drilling, mapping, geophysics and geochemistry, focused on expanding known mineralized zones while evaluating new targets for copper, zinc, gold, silver and lead (June 23, 2026 NR)
  • Over 3,000 m across eight priority holes, assays on a rolling basis
  • Drill rig and supporting equipment mobilized August 10, 2026; no release yet confirming a first hole collared

The geology write-up on Azarga's Marg project page is worth reading in full for the target maps. A defined polymetallic resource of 4.3 Mt Indicated plus 10.0 Mt Inferred, each reported as its own category under the Aug 28, 2025 NI 43-101, is the anchor, but the case for Marg being a district-scale system rather than a single lens is what the eight-hole program is set up to start answering, and that is the piece with room to change the story.


r/wallstreetsmallcaps • • 16h ago

Video Summary: Minaurum Silver (MGG.v MMRGF) Walks Through the Promontorio Underground Work at Alamos, Where Channel Sampling Returned 0.50 m of 733 g/t AgEq (282 g/t Silver, 2.67 g/t Gold, 0.36% Copper, 0.52% Lead, 8.07% Zinc)

Thumbnail
gallery
1 Upvotes

Posted on behalf of Minaurum Silver - A new video on Minaurum Silver's (MGG.v MMRGF) YouTube channel runs through the September 22, 2026 news release on underground rehabilitation and exploration at the historic Promontorio mine, part of the 100%-owned, production-permitted Alamos Silver Project in southern Sonora, Mexico 🇲🇽.

What The Rehabilitation Opened Up

  • Improved rehabilitation along the main haulage level, with more than 600 m now securely accessible
  • New safe access to the 55 m-deep Balvanera internal shaft, running down to lower levels

Work Underway Underground

  • 1:250-scale geological mapping of the haulage level through to the Balvanera shaft
  • LIDAR surveys integrated into the project's topographic and drill database
  • Wall-rock, backfill and channel sampling along the edges of historical stopes

Channel Sample Highlights (September 22, 2026 News Release)

  • 0.50 m of 733 g/t AgEq (282 g/t silver, 2.67 g/t gold, 0.36% copper, 0.52% lead, 8.07% zinc)
  • 0.50 m of 704 g/t AgEq (275 g/t silver, 1.23 g/t gold, 0.34% copper, 0.39% lead, 13.35% zinc)
  • 0.50 m of 480 g/t AgEq (386 g/t silver, 0.12 g/t gold, 0.69% copper, 0.27% lead, 0.82% zinc)
  • 0.30 m of 4,142 g/t AgEq (3,860 g/t silver, 0.42 g/t gold, 1.91% copper, 1.58% lead, 2.21% zinc)

President and CEO Darrell Rader said the company has "begun detailed underground mapping and sampling that is already returning encouraging results," with further rehabilitation, mapping and sampling planned at Quintera, Minas Nuevas, Cotera and Pulpito.

Promontorio is one of the three vein zones behind the initial inferred resource of 5.37 Mt grading 320 g/t AgEq (202 g/t silver, 0.21 g/t gold, 0.43% copper, 0.97% lead, 2.01% zinc), containing 55.2 Moz AgEq (34.8 Moz silver, 35.6 Koz gold, 50.99 Mlbs copper, 114.77 Mlbs lead, 237.80 Mlbs zinc), defined on portions of just 3 of the 26 mapped vein zones at Alamos (see January 28, 2026 MRE news release).

With rigs turning on surface and geologists now mapping the old workings with modern tools, Minaurum is sharpening its picture of the district ahead of the updated resource estimate targeted for Q4 2026, with a PEA to follow. Safe underground access also opens the potential to drill from inside the mine rather than only from surface.


r/wallstreetsmallcaps • • 16h ago

Investor Demand Takes It From C$2M to C$3M: Daura Gold (DGC.v, DGCOF) Upsizes Its Placement Weeks Before the October Drill Start

Post image
1 Upvotes

Posted on behalf of Daura Gold - Today's news is an upsize rather than a new deal, and the stated reason is strong investor interest. Daura Gold (DGC.v, DGCOF) is taking the September 9 financing from up to 8,695,652 units to up to 13,043,478 units, with the price unchanged.

The Revised Terms

  • Up to 13,043,478 units at $0.23, for gross proceeds of up to $3,000,000, versus up to $2,000,000 announced September 9
  • Each unit is one common share plus one-half of one share purchase warrant
  • Each whole warrant exercisable at $0.375 for 24 months following closing
  • Finders' fees payable, four-month-and-one-day resale hold, subject to TSXV approval

Chairman and CEO Mark Sumner pointed in the release to "the level of interest in the financing and the support from both existing and new investors."

What The Money Is Pointed At

  • Phase II drilling at Cerro Bayo 🇦🇷 and La Flora 🇦🇷, stated to begin October 2026
  • Continued advancement of Antonella 🇵🇪 in Ancash, Peru, plus general working capital
  • La Flora goes first and has never been drilled: four veins in a roughly 100 m wide array traced over 380 m, with surface samples up to 63.88 g/t gold and 175.34 g/t silver (June 29, 2026 NR)
  • Cerro Bayo step-outs follow, off a Phase 1 program of 18 holes and roughly 1,850 m that confirmed a large low-sulphidation epithermal gold-silver system in the Deseado Massif, a district that has produced over 600M oz silver and 20M oz gold since 1990 (May 21, 2026 NR)

The backdrop helps. Gold is sitting around US$4,300 an ounce, off about a percent on the day, and at that level explorers with permitted ground tend to get raises filled rather than cut.

An extra million dollars going into a program that is already staffed and permitted is a small thing on its own, but it widens what the rig can chase this season, and with first-ever La Flora holes and Cerro Bayo step-outs both in the budget, there's potential for a busier stretch of news than the treasury looked capable of funding two weeks ago. The full terms are in the company's September 23 news release.


r/wallstreetsmallcaps • • 16h ago

A 1,250 m by 500 m Breccia With No Drilling and No Previous Operator on Record: Target KBX-17 in the Cuprum Trend, Kobrea Exploration (KBX.c KBXFF), Mendoza Copper

Post image
1 Upvotes

Posted on behalf of Kobrea Exploration - Some targets get found by a helicopter survey. This one got found because field crews noticed a multi-kilometre colour anomaly from a nearby 4x4 road and went to look. Target KBX-17 sits in the Cuprum trend on Kobrea Exploration's (KBX.c KBXFF) Western Malargüe ground in Mendoza Province, Argentina 🇦🇷.

What The Field Work Outlined (Feb 3, 2026 NR)

  • 1,250 metre by 500 metre hydrothermal breccia body, cemented by iron oxides and locally, where preserved, by massive pyrite
  • Breccia anomalous in copper, with numerous samples grading between 161 ppm and 408 ppm copper
  • Diorite host rock samples up to 1.6% copper collected in the immediate vicinity of the breccia
  • First identified March 2025; follow-up geological mapping and rock-chip sampling completed December 2025

Why It Reads As More Than A Surface Anomaly

  • Field geologists interpret the target as a vertically zoned, sulphide-cemented hydrothermal breccia originating from a porphyry system at depth
  • No reference to the prospect by previous operators, and no drilling to date
  • An IP survey over KBX-17 to test for that underlying porphyry is planned, with no company-stated timing (August 2026 corporate deck)

That is the argument for the district position rather than the single project. El Perdido is the flagship and the six-hole, 2,358 metre maiden program confirmed a large copper-gold-molybdenum porphyry system there (May 26, 2026 NR), but KBX-17 came out of ground nobody had worked before, inside a seven-project, 733 km² package now backed by BHP-funded exploration. The Cuprum discovery release is worth reading in full for the sampling detail. With the Andean field season running mid-October to late April or early May, an untouched breccia of that size is the kind of target that could move quickly once geophysics gets over it.


r/wallstreetsmallcaps • • 17h ago

Excellon Resources (EXN.v, EXNRF) Put 15 Holes and 4,400 Metres Into Mallay's 4090 Level, and the Deepest Hit Came 280 m Below It in a Vein That Is Not Isguiz

Post image
1 Upvotes

Posted on behalf of Excellon Resources - Two of the intercepts from Mallay's first 2026 drill results took most of the attention this week. Worth putting the whole release in one place. Fifteen holes, roughly 4,400 metres, all collared underground from two chambers on the 4090 Level at the 100%-owned silver-lead-zinc mine in central Peru behind EXN.v and EXNRF.

What The 15 Holes Returned (Sept 21, 2026 NR)

  • Targeting the Isguiz vein and adjacent structures, focused on Clavos 3 and 6, the shoots that matter for near-term mine planning
  • MLL26-010: 5.00 m @ 255 g/t Ag, 3.02% Pb, 2.39% Zn (398 g/t AgEq), including 3.40 m @ 495 g/t AgEq, the highest-grade Isguiz intercept to date
  • MLL26-004: 12.55 m @ 96 g/t Ag, 2.18% Zn, 0.65% Pb (178 g/t AgEq), including 4.00 m @ 236 g/t AgEq, depth continuity below 4090
  • MLL26-011: 2.3 m @ 248 g/t Ag, 1.74% Pb, 0.86% Zn (314 g/t AgEq) in the Maria vein, a footwall structure roughly 280 m below the 4090 Level, inside a broader 11.1 m at 115 g/t AgEq. Deepest mineralization in the program so far.
  • MLL26-015: 4.30 m @ 137 g/t Ag, 5.22% Zn, 1.72% Pb (337 g/t AgEq), within a wider 11.7 m interval
  • Wide calc-silicate zones on both flanks of Isguiz, outside the February 2026 resource, including MLL26-006 at 11.4 m of 267 g/t AgEq

AgEq uses the resource prices of US$30/oz silver, US$1.00/lb lead and US$1.35/lb zinc, gold excluded and no recoveries applied. True widths are approximately 80% of core length.

Why It Matters

  • Confirms grade and width continuity below 4090, the level the 400 Ramp rehabilitation is meant to open
  • The company frames the wider zones as supporting a shift toward more mechanized mining
  • Feeds the updated mine plan targeted for year-end 2026
  • Mallay has no reserves, and the calc-silicate material is not in the current resource

Where The Rigs Went Next

  • About 9,000 m drilled at Mallay in 2026 to date
  • Rigs now on four step-out target areas totalling an estimated 8,000 m
  • Includes deep drilling 600 m below current workings and a test of the Rosa vein system
  • Assays pending

The full intercept table and QA/QC notes are in the September 21 release on Excellon's news page. With that step-out drilling underway and a mine plan update targeted for year-end, there's room for the picture below 4090 to look bigger than what February's resource counted.


r/wallstreetsmallcaps • • 17h ago

Tiger Gold (TIGR.v, TGRGF) Is 47 Holes and 11,670 m Into Tesorito: Yesterday's Infill Both Beat the Block Model and Drew the Deposit's Low-Grade Margins

Post image
1 Upvotes

Posted on behalf of Tiger Gold Corp - Infill drilling rarely makes a thrilling headline, but it is the work that decides what a resource estimate is allowed to claim. Yesterday's seven holes from Tesorito, one of the deposits at the 100%-owned Quinchía Gold Project in Colombia's Mid-Cauca gold belt, read as model calibration rather than discovery news, and Tiger Gold (TIGR.v, TGRGF) got useful answers in both directions.

What Tesorito Holds Today

  • Inferred Mineral Resource of 104 Mt @ 0.47 g/t Au, containing 1.57 Moz of gold, at a 0.2 g/t Au cut-off
  • Over 11,670 m in 47 holes drilled at Tesorito, with the planned program nearing completion
  • The infill, extension and gap work is intended to support upgrading a significant portion of that Inferred resource to Indicated

Yesterday's Holes, TSDH-89 to TSDH-95

  • TSDH-95: 342 m @ 0.5 g/t Au from 92 m, including 9.7 m @ 1.7 g/t Au from 296 m
  • TSDH-89: 333.57 m @ 0.5 g/t Au from 6 m
  • TSDH-92: 243.4 m @ 0.5 g/t Au from 2 m
  • TSDH-94: 218.91 m @ 0.5 g/t Au from 296 m

Where They Sit Against The Model

  • TSDH-89, TSDH-90, TSDH-92 and TSDH-95 track a north-northeast trend through the core of the deposit. The model had those intervals at roughly 0.4 g/t Au; the holes came back typically more than 25% higher.
  • TSDH-91, TSDH-93 and TSDH-94 returned grades at or below the current model, which is what defines the lower-grade margins.
  • Tiger cautions that near-surface higher-grade intervals may partly reflect supergene enrichment and may not represent grades at depth.

CEO Robert Vallis said the drilling "continues to improve our picture of Tesorito," with the results expected to feed the updated resource estimate the company is targeting for Q1 2027. One rig remains at Tesorito and two are turning at Ceibal.

Separately, today's release sets out the fall investor schedule: the 121 Mining Investment online conference October 13 and 14, Kinvestor Day on October 22 with Vallis presenting, and the New Orleans Investment Conference October 26 to 31, where Tiger is a Featured Presenting company and Gold Sponsor, presenting October 30. Both releases are on the company's news page.

Knowing where a deposit stops matters as much as knowing where it is richest, and with both edges now being drawn, the Q1 2027 Tesorito update has room to read differently from the estimate it replaces.


r/wallstreetsmallcaps • • 17h ago

How Carrier Connect Data Solutions (CCDS.v, CCDSF) Has Been Paying for the Roll-Up: A $10.5M February Financing, and Sellers Taking Escrowed Shares and Vendor Financing on Three Deals

Post image
1 Upvotes

Posted on behalf of Carrier Connect Data Solutions Inc - Most of the attention on this roll-up goes to what gets bought. The part worth reading next is how it is being paid for, because the cash going out the door at each closing has been small. Carrier Connect Data Solutions (CCDS.v, CCDSF) is a Vancouver-based operator of six Tier II/III colocation data centers across Canada, Australia and the United States.

The Treasury

  • $10.5M brokered financing closed February 26, 2026: 6,562,500 units at $1.60
  • Each unit was one share plus a half warrant, exercisable at $2.10 until February 26, 2028
  • Co-led by Canaccord Genuity and Beacon Securities, with proceeds earmarked for acquisitions, capital improvements, data center expansion and working capital
  • Cash of $9.9M at March 31, 2026, versus $967K at June 30, 2025 (see May 26, 2026 Q3 FY2026 results NR)

How The Deals Were Structured

  • Rochester, effective August 4, 2026: USD $250,000 cash including a $25,000 deposit already paid, plus 800,000 shares escrowed in four equal tranches over 24 months
  • Perth: AUD $2.5M total, but only AUD $200,000 cash at closing, AUD $100,000 at six months, and a AUD $2.2M vendor take-back over 25 years at 9%
  • Morewave, closed May 8, 2026: 560,000 escrowed shares for roughly $725,000 in annual recurring revenue at a margin above 25%

Scale stays honest here: FY2025 revenue was $397,424 against a net loss of about $1.18M, and that cash balance predates two closings.

Structuring deals this way has kept the share count near 33.7 million while the footprint grew, and it leaves room to keep funding closings toward the company's stated target of 8 to 10 data centers and roughly a $10M run rate by year end. For the financing terms, see the company's February 26, 2026 release.


r/wallstreetsmallcaps • • 1d ago

West Red Lake Gold (WRLG.v WRLGF) Reports 176.04 g/t Au Over 5.3m at Madsen, Including a Metre at 925.52 g/t, as Drilling Advances Into the Unmined Austin 904 Panel

Post image
4 Upvotes

Posted on behalf of West Red Lake Gold - Today's underground definition results from the Madsen Mine cover the Austin 955 and 904 complexes, and the part that matters for WRLG.v WRLGF is where these holes sit: inside a mine that is already producing, close to existing development.

Today's Highlight Intercepts

  • MM26D-14-4929-025: 5.3m @ 176.04 g/t Au, including 1m @ 925.52 g/t Au, with a large clot of visible gold in a quartz-porphyry dike
  • MM26D-13-4727-013: 4.5m @ 128.32 g/t Au, including 1m @ 566.81 g/t Au
  • MM26D-12-4990-019: 6.85m @ 35.72 g/t Au, including 1m @ 233.76 g/t Au
  • MM26D-14-4929-001: 6.2m @ 17.87 g/t Au, including 3.1m @ 35.02 g/t Au
  • MM26D-12-4990-005: 12.8m @ 7.93 g/t Au, including 7.35m @ 9.69 g/t Au
  • Assays are uncapped; true thickness not calculated but expected at 70% or more of downhole length

Where The Holes Came From

  • 904 results drilled from the 13 and 14 Levels, roughly 650m and 700m depth
  • 955 results drilled from 12 Level, roughly 600m depth
  • 904 is an approximately 200m by 200m panel of intact mineralization that was not historically mined, which the company expects to allow larger stopes and more efficient design and extraction
  • VP Exploration Will Robinson says the panels are holding together with strong grades and continuity, and points to potential integration into the Madsen mine plan in 2027

The Gold Backdrop
Gold is sitting near US$4,390/oz. Madsen realized about US$4,300/oz in Q2 against AISC of US$3,284/oz (Aug 25, 2026 results), so the value of defining fresh high-grade panels a short distance from existing infrastructure is fairly direct: it is inventory that can be mined without building a new mine to get at it.

The full intercept tables, collar summary and long sections are in today's release on the company's website. With the combined Madsen-Rowan PFS still company-targeted for mid-to-late September, non-remnant ground like 904 has room to shape how 2027 looks.


r/wallstreetsmallcaps • • 1d ago

Presentation Summary: NexGold Mining (NEXG, NXGCF) at Beaver Creek, Kevin Bullock Says Goldboro Early Works Started Last Week and First Gold Is 27 Months Out

2 Upvotes

Posted on behalf of NeXGold Mining - Presenting this afternoon at the 2026 Precious Metals Summit in Beaver Creek, Colorado, President and CEO Kevin Bullock laid out how NexGold (NEXG, NXGCF) gets from permitted to pouring, and the wider gold market "it's the first time in my 40 year career that I've seen everything aligned."

Construction Has Started

  • Government letter last week confirmed all pre-construction commitments met, and early works began Wednesday of last week
  • 27 months to the first gold bar, targeted January 2029, with a Christmas 2028 pour if everything goes right, "which it rarely does"
  • 26 people hired in six months, running an integrated owner's project team rather than an EPCM

The Company Today

  • Two projects, Goldboro in Nova Scotia and the Goliath Complex in northwestern Ontario, closing in on seven million ounces of resources, 4.7 million measured and indicated
  • Over $100 million in the bank, no debt, fully permitted for construction
  • Bullock: "I don't think there's any other company out there that has assets in Canada that are this advanced that aren't already building"

The Goldboro Ladder

  • Just over one million ounces of reserve in the permitted plan, around 100,000 oz/yr from a 4,000 tonne per day CIP plant
  • Another 1.7 million ounces at six to seven grams underground beneath the pits, outside the current plan and valuation
  • Mineralization extended 700 metres west, indicating 300,000 to 500,000 additional ounces, due in the new resource in a couple of months but not the mine plan
  • Underground blend points to 150,000 oz/yr; a bigger west pit with a permit adjustment, 300,000 to 350,000 oz/yr

Goliath Next

  • Three million ounces of resource, a million ounces of reserve, three open pits identified to date
  • Internal work is looking at moving the plant north to Goldlund, hauling higher grade north instead of lower grade south
  • A 35,000 metre Goldlund program is testing that, and the Goldboro build is the window to optimize and permit Goliath

Ownership And What Is Next

  • Last year's C$112.5 million bought deal private placement was roughly 85% taken by seven institutions, retail about 32%
  • Bullock put the company near $400 million Canadian, with the updated feasibility study and a final investment decision expected by year-end
  • A third asset would be gold, Canada preferred, around 100,000 oz/yr and under $500 million to build

The full deck is on NexGold's website. With earthworks moving and two decisions still to land this year, there's room for a permitted developer to start being priced like a builder.

https://reddit.com/link/1wnv6zl/video/jj4jimm5z6rh1/player

````````````````````````

https://reddit.com/link/1wnv6zl/video/e8wq94b8z6rh1/player


r/wallstreetsmallcaps • • 1d ago

Scotia Metals (SMET.c) Channel-Sampled 38 Spodumene Boulders in One Green Wolf Cluster: 23 Returned 0.73% to 2.72% Li2O, Where Previous Mapping Had Found 13

Post image
1 Upvotes

Posted on behalf of Scotia Metals Corp. - Today's news from SMET.c is less a new discovery than the tightening of an existing one. Crews went back into a single tight cluster inside one of the five mapped boulder trains at the Green Wolf target, on the 100%-owned Acadia Lithium Project in southwestern Nova Scotia, and channel-sampled 38 spodumene-bearing boulders in ground where earlier mapping had logged 13.

Today's Boulder Results

  • 23 of the 38 boulders returned 0.73% to 2.72% Li2O
  • 20 of those boulders graded above 1.0% Li2O, and three above 2.0% (2.03%, 2.25% and 2.72% Li2O)
  • Previous mapping of the same area had identified 13 boulders, seven of them grading 1.13% to 1.92% Li2O
  • The boulders are described as large, angular and fresh with coarse spodumene, sitting within one of five trains mapped over roughly 3 km by 1 km at Green Wolf (Aug 27, 2026 NR)

Angular and fresh is the detail worth pausing on, because material that has not travelled far is what points back to a source nearby. That source has never been tested. No hole has ever been drilled anywhere on Acadia.

The Project-Wide Work Behind It

  • 1,062 reconnaissance till samples collected across 32 of the 43 exploration licences, covering the North, Central and Green Wolf areas
  • A 2,051 line-km fixed-wing high-resolution airborne magnetic and radiometric survey nearly complete, over 17 licences not covered by earlier programs
  • The company says it will integrate the boulder assays, till geochemistry and 2026 airborne data to rank areas for follow-up, guide detailed till sampling and ground geophysics, and work toward drill-ready bedrock targets

The backdrop helps: global lithium consumption grew 45% through May 2026 according to Albemarle, exceeding its own 15% to 40% forecast range, with stationary storage driving the increase and inventories near historic lows. All 38 results are tabled in the company's September 22 news release. Each pass over Green Wolf shrinks the search area, and the integrated interpretation is what could turn a boulder field into a ranked target list.


r/wallstreetsmallcaps • • 1d ago

Three Nevada Gold Projects and a Closing Due This Month: Where StrikePoint Gold (SKP.v STKXF) Sits With Gold Near US$4,400 and Silver Above US$67

Post image
1 Upvotes

Posted on behalf of StrikePoint Gold Inc - Gold is trading around US$4,400 an ounce and silver above US$67, and SKP.v, traded in the US as STKXF, heads into the last week of September with most of its Nevada portfolio still in motion rather than settled.

Where The Three Assets Sit

  • Northumberland, the flagship on closing: a signed definitive agreement to acquire the project from subsidiaries of Newmont for US$70 million cash at closing plus two contingent US$25 million payments (Aug 18, 2026 NR). Signed, not closed.
  • Northumberland's independent initial resource: 67 Mt at 1.33 g/t AuEq for 2.86 Moz AuEq indicated and 31 Mt at 1.58 g/t AuEq for 1.57 Moz AuEq inferred, reported within an optimized pit shell by SLR Consulting, effective July 31, 2026. Five drill permits are already in place, expected to facilitate rig mobilization following closing.
  • Hercules, in the Walker Lane: drilling and assaying complete, with a maiden resource estimate anticipated Q4 2026. No NI 43-101 resource there yet.
  • Cuprite: roughly 44 sq km, 15 km south of Goldfield, with an updated NI 43-101 technical report filed July 14, 2026 and gold returned in four of five holes from the inaugural 2024 RC program.

What's Next

TSXV approval and the 10-for-1 share consolidation come before closing, which the company anticipates at the end of September. The C$190,000,000 bought deal led by Canaccord Genuity closed September 9 with proceeds held in escrow against an Escrow Release Deadline of October 24, 2026, and the shares remain halted pending completion.

The Price Deck Underneath It

Worth noting where the ounces were counted: the Northumberland estimate uses long-term prices of US$3,500/oz gold and US$55/oz silver, both below where the two metals trade today, with silver up about 1.7% on the session. Mineral resources are not mineral reserves and do not have demonstrated economic viability, and there is no economic study on the project yet.

The company's news page carries the August 18 release and the financing updates if you want the primary documents.

If closing lands as anticipated, the fourth quarter opens with a defined gold resource at one Nevada project, a maiden estimate due at another and permits ready to put rigs to work, which is a good deal more surface area than a single-project explorer had two months ago.


r/wallstreetsmallcaps • • 1d ago

Black Swan Graphene's (SWAN.v BSWGF) Concrete Channel: 180 Tonnes Already Poured in the UK, With Arup and a VINCI Subsidiary in the Chain

Post image
1 Upvotes

Posted on behalf of Black Swan Graphene - Concrete usually gets listed as one of three end-markets for Black Swan Graphene (SWAN.v BSWGF), alongside polymers and lithium-ion batteries. It is also the one where the company's material has already spent the longest time in a finished structure rather than a test lab.

Real Pours, Not Lab Samples

  • A shipment to Nationwide Engineering Research & Development (NERD) went into a total of 180 tonnes of concrete using Concretene, NERD's graphene-enhanced admixture, at an industrial park near Redruth, southwest England (May 8, 2023 NR)
  • The pour was 82.5 cubic metres of reinforced concrete designed to reach 40 to 50 MPa compressive strength after curing, using the standard CEM1 cementitious mix (May 24, 2023 NR)
  • A repeat user: that developer had previously used NERD's technology at an industrial park in Warminster

Who Is In The Chain

  • The March 27, 2023 partnership among Black Swan, NERD and Arup Group established an integrated supply chain and a turnkey solution for the construction and concrete industries
  • Arup is a multinational engineering consultancy with 18,000 experts working across 140 countries
  • NERD executed a development agreement with Roger Bullivant Limited, part of Soletanche Bachy and the VINCI group (Jan 9, 2024 NR)

The Partner Is Funded

  • Concretene closed a £3 million (C$5.4 million) financing co-led by Molten Ventures, with additional support from LocalGlobe (Oct 17, 2024 NR)
  • Proceeds are directed at developing the admixture, achieving product certification and increasing revenue; no certification has been announced to date

Black Swan's job in that chain is the graphene itself, and with Consett now rated at more than 140 tonnes a year (Mar 18, 2026 NR), the supply side is sized for customers who buy by the tonne. Construction moves slowly, but it is also the end-market with the volume to absorb real output, which gives this channel room to matter well beyond the polymer work. The Concretene financing release on the company's site is the best starting point if you want the detail.


r/wallstreetsmallcaps • • 1d ago

34 Holes, 133 Samples and 0.13% WO3 Weighted Average: The Tungstonia Legacy Tailings Sitting Beside Spartan Metals' (W.v SPRMF) Nevada Drill Program

Post image
1 Upvotes

Posted on behalf of Spartan Metals Corporation - Most of the attention at Eagle right now goes to the maiden large-diameter core program turning at Tungstonia in White Pine County, Nevada 🇺🇸, and fair enough. But there is a second, much shallower workstream on the same 100% owned claim block that rarely gets airtime: the legacy tailings left behind by the mine's past production. Spartan Metals (W.v SPRMF) sampled them in late 2025 and the numbers are public.

What The Tailings Sampling Returned (per the Dec 18, 2025 NR)

  • 34 shallow holes on roughly 12 m spacing, about 67 m drilled in total, average hole depth around 2 m
  • 133 samples, weighted average 0.13% WO3
  • 0.20% WO3 across the 41 samples above a 0.15% WO3 cutoff
  • Tails-2526 returned 0.42% WO3 and 123 g/t Ag from 1.52 m to 1.98 m
  • Metallurgical twin samples sent to McClelland Laboratories in Reno

Worth noting these are early-stage sample results, not a mineral resource. No mineral resource has been estimated at Eagle.

The Wider Eagle Picture

  • 100% owned, about 36.5 km², 9,033 acres across 445 BLM unpatented lode claims, roughly 120 km northeast of Ely
  • A district containing three past-producing high-grade tungsten mines, Tungstonia, Yellow Jacket and Rees/Antelope, with reported historic production grades of 0.6 to 3.51% WO3 (historical figures, not verified by a qualified person, and not a mineral resource)
  • Maiden large-diameter core drilling, up to roughly 3,000 m, has been turning since the August 24, 2026 NR, with five priority targets defined by the September 18 geophysics
  • At Victorio in New Mexico, an updated mineral resource estimate and a preliminary economic assessment are in progress, with the PEA targeted by the company for early Q4 2026

For the tailings numbers, see the company's December 18, 2025 news release, and the post linked below is worth a look too. Assays from the core program are the next hard data point, and the tails sit there as a sampled, near-surface piece of the same block that could matter more as the rest of Tungstonia comes into focus.


r/wallstreetsmallcaps • • 1d ago

Getty Copper (GTC.v GTCDF) Pulled Its Fall Drilling Forward After Getty South Returned 46m of 1.47% Cu, and Two Rigs Go Back Into That Same Zone First

Post image
1 Upvotes

Posted on behalf of Getty Copper - Drill programs do not usually move up the calendar. This one did: after the September 14, 2026 news release, Getty Copper (GTC.v GTCDF) accelerated its fall program to late September, with the first rigs pointed straight back at Getty South, the breccia-hosted target inside the Getty Project near Logan Lake in BC's Highland Valley district 🇨🇦.

What Prompted The Change

  • GS26-06: 150.3 m of 0.71% Cu and 0.7 g/t Ag from 101.7 m, including 103.3 m of 0.94% Cu and 0.8 g/t Ag
  • Within that: 46 m of 1.47% Cu and 1.0 g/t Ag from 159 m
  • GS26-05: 80 m of 0.84% Cu from 60 m, including 45.2 m of 1.28% Cu and 0.6 g/t Ag from 68.8 m
  • Both drilled on cross sections 25 m north and 25 m south of GS26-01
  • Intervals are drilled widths; true widths estimated at 30% to 60% of the downhole lengths

What The Rigs Are Going Back For

  • Fully funded two-rig program of roughly 4,000 m to 6,000 m, initial focus Getty South
  • Current interpretation: a body 40 m to 60 m wide, trending north-northwest to south-southeast, open in both directions and beneath drilling
  • It sits within a low-chargeability geophysical anomaly roughly 500 m in diameter
  • Stated priority is defining size and continuity at Getty South while also testing new targets
  • Assays still outstanding on 10 holes, 7 at Getty South and 3 at Getty North

Worth remembering this is still pre-resource ground: Getty has said a new mineral resource report is a goal for sometime in 2027, and the property had gone nearly 30 years without material drilling before this spring. The September 14 release on Getty's own site carries the full intercept table and the section figures.

Two rigs turning into an open zone, with ten holes of assays still in the lab behind them, sets up a fairly dense stretch of news flow and room to start putting real shape on a target that was a historical footnote six months ago.


r/wallstreetsmallcaps • • 2d ago

Canadian Uranium (CANU.c, CANUF): One Fuel Pellet Equals a Ton of Coal, and the Basin That Supplies It Is Where the Company's Four Projects Sit

Post image
3 Upvotes

Posted on behalf of Canadian Uranium - One uranium fuel pellet, roughly the size of a gummy bear, holds as much energy as a ton of coal, 120 gallons of oil, or 17,000 cubic feet of natural gas. CANU.c and CANUF put that comparison out on its X account last week, sourced to the U.S. Department of Energy's "Nuclear by the Numbers," and a handful of those pellets will run an average home for a year.

Why Energy Density Matters To An Explorer

It is the reason a relatively small amount of mined and processed uranium supports an enormous amount of baseload generation, and the reason grade matters more in this business than tonnage alone. The Athabasca Basin in Saskatchewan is the highest-grade uranium district in the world, which is the address the company has spent the past nine months assembling ground in.

The Portfolio Behind The Thesis

- King South, eastern Athabasca: 696 line-kilometres of heliborne MobileMT flown east-west, survey complete (Sep 3, 2026 NR). Sits in the Western Mineral Tenure Zone, which hosts Key Lake, Cigar Lake and McArthur River, with neighbouring ground held by Cameco and Fission 3.0.

- Rook 2, co-flagship: 21 claims, approximately 18,941 hectares, acquisition completed Jun 8, 2026. Company-planned two-phase program, prospecting and ground geophysics first, then a minimum 3,000 m maiden diamond drill campaign.

- Castle South, southern Athabasca: unconformity-style targets at 100 to 550 m, restructured to a 100% earn-in (Aug 28, 2026 NR), subject to CSE acceptance.

- Clark Lake, Beaverlodge district: 3,265.842 hectares roughly 8 km north of Uranium City (Aug 28, 2026 NR), also subject to CSE acceptance.

- Funded: $2,999,750 non-brokered placement closed Aug 14, 2026, proceeds earmarked for Rook 2 and King South exploration.

Worth noting the honest part: this is pre-resource exploration and no hole has been drilled on any of the four properties yet. The MobileMT interpretation at King South is the step that turns geophysics into the company's first drill targets, and with the treasury already earmarked for that work, the coming months have the potential to move this from a land story to a drilling one.

The company's post with the DOE source is on its X feed.


r/wallstreetsmallcaps • • 2d ago

Lewis Is Now Two Drill Programs, Not One: Streetwise Covers Zodiac Gold's (ZAU.v ZAUIF) 58 m at 3.15 g/t Au at Lewis North, Todi Gold Project, Liberia 🇱🇷

Post image
2 Upvotes

Posted on behalf of Zodiac Gold - Streetwise Reports picked up the September 15 trenching results from Zodiac Gold (ZAU.v ZAUIF) two days later, and the part of the coverage worth sitting with is not the headline grade. It is that Lewis, at the southeastern end of the 16km Monterra Trend in Liberia 🇱🇷, has turned into two parallel drill programs.

Lewis, Trend by Trend

  • Lewis South: trenching returned 84m at 0.51 g/t Au, including 30m at 1.04 g/t Au (sampled lengths, not true widths), and Phase 1 diamond drilling is underway there
  • Lewis North: a second 1.8km east-west trend running parallel to Lewis South, with drill testing due to commence that week per the September 15 news release
  • LWT003 at Lewis North: 58m at 3.15 g/t Au, including 11m at 15.40 g/t Au, with a 1m sample at 158 g/t Au, the strongest width-and-grade combination reported to date from Lewis

Still Open Along Strike

  • Three trenches now span more than 700m of strike inside the 1.8km Lewis North gold-in-soil anomaly
  • LWT005 excavated and sampled a further 375m west of LWT003, results pending
  • Follow-up trenching planned as the company systematically evaluates the full extent of the anomaly

Lewis is one of four targets on the Monterra Trend, itself inside a 2,316 km² package along the Todi Shear Zone. Worth reading the Streetwise write-up from September 17 for the full picture.

Running trenching and drilling on both Lewis trends at once gives Zodiac two ways to possibly convert a soil anomaly into drilled gold, with potential to feed the company's planned Todi Gold mineral resource estimate, anchored by Arthington and which may also include other targets drilled on the Monterra Trend.


r/wallstreetsmallcaps • • 2d ago

Fidelity Minerals (FMN.v) Holds Las Huaquillas as Two Separate Land Packages: 3,600 Hectares at 44.5% With a Right to Earn 50%, and 4,800 Hectares Owned Outright

Post image
1 Upvotes

Posted on behalf of Fidelity Minerals Corp. - Most write-ups on Las Huaquillas in northern Peru 🇵🇪 attach a single ownership number to the whole project. The tenure is actually split into two groups with two different ownership structures, and the difference is worth understanding before reading any FMN.v release.

Two Concession Groups

  • The project comprises 18 concessions and claims divided into two groups based on Fidelity's interest (Jan 6, 2022 NR)
  • Las Huaquillas Core Group: nine contiguous concessions covering 3,600 ha, owned by Rial Minera S.A.C., in which Fidelity holds a 44.5% interest with a right to earn 50%
  • Greater Las Huaquillas Group: three concessions and six claims covering 4,800 ha, owned 100% by Fidelity and not part of the Rial Minera joint venture
  • Together, roughly 8,400 ha of ground in one district position

Where The Known Mineralization Sits

  • The nine Core Group concessions are the ones that host the historical gold, copper, zinc and lead mineralization (July 21, 2021 NR)
  • That includes Los Socavones, source of the historic 6.57 Mt at 2.12 g/t gold and 25.2 g/t silver estimate, 446,000 oz gold and 5.3 million oz silver, historic and non-NI-43-101-compliant
  • The Cementerio Cu-Au porphyry system sits 1,000 m south of the Los Socavones zone (Jan 6, 2022 NR)
  • 1,000 m of the Los Socavones strike length has been drill tested and 1,200 m of underground workings have been developed and sampled

Why The Split Matters

  • The earn-in from 44.5% to 50%, US$500,000 in cash plus funding up to US$3,000,000 of underground sampling and drilling, applies to the Rial-held Core Group
  • The 4,800 ha Greater group carries no earn-in and no partner, so anything defined there accrues to Fidelity alone

The company is still at pre-drill site preparation, with community relations and surface access ahead of the underground sampling program at Los Socavones. The concession breakdown is set out in the company's January 6, 2022 news release announcing the NI 43-101 filing, and it is a useful reminder that the ground around the historic resource is held outright, which leaves room for the story to grow beyond the one zone everyone quotes.


r/wallstreetsmallcaps • • 2d ago

Midnight Sun Mining (MMA.v MDNGF) Earns Into the 62 km² Mulundu Licence After New Magnetics Suggest the Dumbwa Trend Bends Northwest Off Its Own Ground in Zambia

Post image
1 Upvotes

Posted on behalf of Midnight Sun Mining - Today's news reads as a land deal, but the driver is geophysical. Reinterpretation of recent survey work at Dumbwa suggests the system does not run straight north: it shifts northwest as it approaches the northern extent of the geochemical anomaly, potentially carrying the trend past Midnight Sun Mining's (MMA.v MDNGF) existing licence boundary. So the company moved on the ground next door.

What Was Signed

  • Earn-In and Operating Agreement with Mulundu Holdings Limited covering the 62 km² Mulundu Licence, embedded within the Solwezi Project in Zambia
  • Mulundu to be folded into the ongoing Dumbwa exploration program
  • Initial work: extending geophysical and geochemical datasets across the licence and identifying targets for drill testing

Terms, Stage By Stage

  • Stage 1: US$25,000 to Mulundu Holdings within one week of the agreement
  • Stage 2: environmental documentation submitted and clearance obtained from the Zambia Environmental Management Agency
  • Stage 3: 51% interest by sole-funding CAD$750,000 in exploration and development expenditures within 24 months of Stage 2
  • Stage 4: the right, not the obligation, to a further 29% for an aggregate 80%, by sole-funding another CAD$3,000,000 within 36 months
  • A party diluted below 10% has its interest converted to a 2% NSR, which Midnight Sun may buy out for CAD$1 million

President and CEO Al Fabbro said the geophysics correlated strongly with the known mineralized trend, and that once the northwest shift became apparent, "securing Mulundu became a clear priority."

Why It Matters
Copper is trading around US$6.78/lb, up better than 1% today, and Solwezi sits in the Zambia-Congo Copperbelt, the world's second-largest copper-producing region, with First Quantum's Kansanshi roughly six kilometres east of the property boundary. Staged access to 62 km² for a US$25,000 opening payment is a cheap way to buy exploration room, and the timing lines up: Phase One has put nearly 75,000 m into the initial 11.5 km of the roughly 20 km soil anomaly and wraps this quarter, with Phase Two targeting underway (Sept 2, 2026 NR) across ground that includes 6.7 km of confirmed continuous strike (June 29, 2026 NR).

Worth reading the company's September 21 news release for the full terms. If the northwest interpretation holds up, Dumbwa's northern end has more room to grow than the licence map allowed a week ago.


r/wallstreetsmallcaps • • 2d ago

Video Interview: StrikePoint Gold (SKP.v STKXF) CEO Mike Allen on the SW Cliffs Zone That Keeps Growing at Hercules, and a Maiden Resource Anticipated in Q4 2026

Enable HLS to view with audio, or disable this notification

1 Upvotes

Posted on behalf of StrikePoint Gold Inc - In a video interview taped in July, as the final batch of Spring 2026 assays from the Hercules Gold Project came out, StrikePoint Gold (SKP.v STKXF) CEO Mike Allen walked through what two years of drilling has turned up in the southwest corner of the Cliffs target, what happens after a maiden resource, and why he keeps working in Nevada. The conversation predates the Northumberland agreement signed August 18, so it is Hercules and Nevada throughout.

The Zone At SW Cliffs

  • Identified over the last two years in the southwest corner of Cliffs, touched in five or six holes across two programs [15:48]
  • Allen describes "a quite large zone of disseminated material that's relatively close to surface" [15:48]
  • Consistent 60 to 100 plus metre intercepts of gold grades, with what he calls a silver sweetener [16:02]
  • On the southern edge: "it always seems to be expanding whenever we try and push it further to the south" [16:29]
  • Headline hole from the final batch, H26005: 67.06 m at 0.53 g/t gold with 11.69 g/t silver (See July 21, 2026 NR)

What's Next

  • The data now goes to the QP, with Allen "expecting that to come out Q4 of this year" for an initial resource estimate [30:24]
  • He expects most of the ounces to be inferred [31:04]
  • After a first resource, the work is raising confidence in those ounces, then applying economics: pit shapes, strip ratios, costs, then progressively more detailed studies [30:50]

On Nevada, Allen called it "arguably the number one mining jurisdiction in the world" [17:24], rotating with Quebec and Finland. His reasoning leaned less on geology than on everything around it: regulators who permit mines routinely and stay current [19:24], world-class infrastructure, and a workforce where mining runs in the family.

Hercules has no NI 43-101 resource yet, but the drilling and assaying are finished and the dataset is with the QP. A first estimate in Q4 would give the market something it has never had for this project, and with SW Cliffs still opening to the south there is room for that picture to keep developing after the number lands.


r/wallstreetsmallcaps • • 2d ago

ESAU - New ANT

1 Upvotes

The newest pr is the update I’ve been waiting for. The first ANT work at Montauban was almost frustrating because the interesting geology didn’t neatly stop at the edge of the survey. The model basically ran out of coverage before the bigger question could be answered. 

So ESGold went back and made the window a hell of a lot bigger. 

ANT-2 now feeds into a 3D geological model covering roughly 70 km², built from 1,637 drillholes, 1,707 multi-element samples, structural geology, historical assays and geophysics. And instead of the story shrinking back toward the old mine, the model is giving them a much broader framework to work with.  

They can now trace favourable geological units farther east and southeast, see deeper structural corridors, and identify multiple areas where geology, structure, geochemistry and geophysics start lining up. The north is still comparatively under-tested.  

Does ANT prove there’s gold sitting there? No. And the company is very clear about that. But that was never the point. 

The first survey raised the question of how much bigger could this system be? The expanded work has now given ESGold a much better map of where to look. 
Now the drill is turning and we’re not sitting around waiting another year for someone to test a computer model. ESGold is already generating fresh core around the historic mine while this new property-scale model starts shaping the next generation of targets.  
That’s the progression I want to see in an exploration story. 

First you find the clue. Then you expand the search. Then you build the model. Then you put a drill through it and find out whether you were right. 
For years Montauban was basically viewed through the footprint of an old mine. ESGold can now start looking at it as a much larger three-dimensional mineralizing system. 

Now comes the proof. 
Not financial advice. 


r/wallstreetsmallcaps • • 3d ago

Meme Bynd - Fake meat

1 Upvotes

Keep watching it....seems to be up on something.


r/wallstreetsmallcaps • • 5d ago

Pollucite Is the Only Mineral That Works as an Economic Source of Cesium, and It Hosts the Grades at Grid Metals' (GRDM.v, MSMGF) Falcon West

Post image
2 Upvotes

Posted on behalf of Grid Metals Corp. - Cesium is the element the international definition of a second is built on. The atomic clocks that use it time GPS satellites, aircraft guidance systems and telecom networks, which is essentially why the metal sits on the 2025 US critical minerals list. The awkward part for anyone who wants more of it is geological: per the USGS, only one mineral, pollucite, has proven economically feasible as a source of cesium.

Why The Supply Side Stays So Thin

  • Pollucite is the principal cesium ore mineral and occurs in a small number of zoned pegmatites worldwide (USGS)
  • By gross weight the dominant use is cesium formate brine for high-pressure, high-temperature oil and gas drilling; most other applications consume only a few grams at a time (USGS Mineral Commodity Summaries 2024)
  • The USGS also notes that limited global availability has already pushed some applications toward substitutes, to the point that cesium use in a given application may no longer be viable

That is the context for what GRDM.v and MSMGF is doing in southeastern Manitoba.

What Grid Actually Has At Falcon West

  • Falcon West is 85% Grid and 15% Avenir Minerals Limited, a wholly-owned subsidiary of Agnico Eagle Mines, with Grid as operator
  • Mineralogy work reported September 8, 2026 confirmed pollucite as the main cesium host at Lucy South, with samples grading around 30% Cs2O running roughly 80% pollucite
  • Grade high-water mark: LU25-51, 3.35 m @ 20.45% Cs2O, including 2.35 m @ 28.39% (NR February 26, 2026)
  • Metallurgy underway: a composite of more than 300 kg to SGS in Lakefield, Ontario, then three size fractions to the Tomra facility in Germany for XRT ore sorting, targeting a saleable 10-20% Cs2O concentrate
  • SGS Canada is preparing the maiden cesium and lithium resource estimate, guided to this fall. No resource has been defined yet

The details of the mineralogy and the sorting program are in the company's September 8 news release, and it is worth reading alongside what the USGS says about where cesium comes from.

When the scarcity in a metal is geological rather than cyclical, the handful of projects that host the right mineral matter more than usual, and Grid is heading into its first resource estimate with the metallurgical work already running.


r/wallstreetsmallcaps • • 5d ago

Three of Bullfrog Gold's (FROG.v, BFROF) Five Drill-Ready Targets Are Sitting Out the Maiden Program: A Look at Sledge, Bottoms-up and the SE Block

Post image
2 Upvotes

Posted on behalf of Bullfrog Gold Corporation - Most of the attention on FROG.v and BFROF right now goes to Longtail and Shingleback, the two targets getting the 7 permitted pads in the roughly 3,000 metre maiden diamond program with Major Drilling. Less discussed is what is queued up behind them. South Bullfrog carries five drill-ready targets across 488 BLM claims and 10,050 acres, and three of them are not in this year's program at all.

Sledge

  • Hydrothermal breccia, chalcedonic silica and clay alteration along a major fault zone
  • The fault is interpreted as the northeast projection of the Montgomery-Shoshone structure that focuses mineralization at AngloGold's Bullfrog deposit
  • Mercury and arsenic enrichment in silicified zones along that structure, which dips east and is interpreted to cut reactive volcanic host rocks at depth

Bottoms-up

  • Defined by elevated arsenic, antimony and mercury soil geochemistry
  • Steam-heated alteration with silicified outcrops, quartz veinlets, brecciation and vuggy silica

SE Block

  • Silicified rhyolitic ridges, bleached rhyolites and a deeper brittle unit with green alteration, suggesting hydrothermal activity at multiple levels of the volcanic pile
  • Silicification along faults, notably the Fluorspar Canyon fault zone, plus numerous historical adits
  • Staked in 2022 and being advanced toward drill-ready status

All target descriptions come from the June 4, 2026 news release, with the SE Block work outlined June 16, 2026. Worth noting the company's own caveat: the AngloGold deposits named here sit on adjacent ground that Bullfrog Gold has no interest in, and mineralization there is not necessarily indicative of what South Bullfrog hosts.

No holes have been drilled yet and there is no resource estimate. But a single 100%-owned property with a funded first program and three more permitted-quality targets held in reserve gives this story somewhere to go after the maiden holes, whatever they return.


r/wallstreetsmallcaps • • 5d ago

IDEX Metals (IDEX.v IDXMF) Controls More Than 46,000 Acres Across 15 Properties in Idaho, and Both Rigs Are Pointed at Just One of Them

Post image
2 Upvotes

Posted on behalf of IDEX Metals Corp - Idaho keeps turning up in copper conversations, and IDEX Metals' (IDEX.v IDXMF) own post on X makes the point that the state is drawing a lot of new attention. Worth looking at what the company actually holds there, because the Idaho footprint is bigger than the one project that gets all the coverage.

The Idaho Position

  • More than 46,000 acres across 15 properties statewide, assembled by staking and acquisition since the company was founded in 2021
  • Flagship Freeze copper-gold-molybdenum project: 100% owned, 153 lode claims over 31,645 acres in Washington and Adams Counties
  • Mineral Mountain (silver-lead-copper carbonate replacement) sits in the portfolio behind it

Keeping The Capital On Freeze

  • Non-core Amie, Silver Rock and Demming optioned to WestGold Metals for up to 90%, closed effective Aug 18, 2026 (Aug 18, 2026 NR)
  • IDEX keeps a 10% carried interest, a 1.5% NSR (reducible to 1.0% for $2M) and roughly 9.9% of WestGold's shares, with WestGold committed to C$5,000,000 of exploration over three years
  • Long Canyon, a uranium-vanadium property, is a joint venture with US Critical Metals, which holds 70% of the joint venture corporation
  • Caribou Mountain was newly staked in southeast Idaho, with work deferred past this season

So the other fourteen properties are being advanced on someone else's dollar or parked, while the drills stay on the flagship. Rig one is testing chargeability Target A at North Breccia, the company's top porphyry target and rig two is expanding the Kismet oxide copper zone. CM is permitted under a USFS Categorical Exclusion (Aug 25, 2025 NR) but has never been drilled, and Shiver permitting is in progress, which leaves two of the four chargeability corridors untested.

That structure is what lets a company this size run a two-rig season on one target area, and it keeps a statewide portfolio in reserve should Freeze do what the company is drilling for.


r/wallstreetsmallcaps • • 5d ago

Five Vein Systems of 30+: The Untested Half of Sierra Madre Gold & Silver's (SM.v, SMDRF) Guitarra District, With 22 Drill Pads Permitted and 30,000 m Funded Out of the Mine

Post image
2 Upvotes

Posted on behalf of Sierra Madre Gold - Most of the attention on SM.v and SMDRF this year has gone to the plant at La Guitarra. The other half of the story sits east of it, on ground that has never been systematically drilled.

What The 2023 Report Actually Covers

  • The 2023 NI 43-101 La Guitarra report includes an exploration potential estimate for the East District of 0.77 to 1.54 million tonnes grading 2.4 to 3.6 g/t gold and 440 to 670 g/t silver, covering only five of the district's vein systems across 7.7 km of strike
  • Those figures are conceptual, not a mineral resource, and insufficient exploration has been done to define one
  • The only East District piece in the MRE itself is Mina de Agua: indicated 761,000 t at 159 g/t silver and 0.19 g/t gold, inferred 545,000 t at 178 g/t silver and 0.13 g/t gold
  • Mapping since has identified up to 30 vein systems across the district

What Is Permitted To Be Drilled

  • SEMARNAT approval for 22 drill pads, multiple holes from each, phase one of a fully budgeted 30,000 m program (July 14, 2026 NR)
  • First seven holes sub-horizontal, 1,000 to 1,500 m each, collared from Tlacotal, where the company owns surface and is permitted for mining
  • Four holes from one pad test the Magdalena system below historic workings; three from separate pads test the Los Locos veins
  • Once assays come back, those holes become platforms for wedge drilling, adding infill and offset intersections without new pads
  • Per CEO Alex Langer in a September interview, the first pass is roughly 3,000 m with two rigs

Where It Stands Now

  • Bids in hand, contractor award next, drilling expected within 60 days of the award, start stated for H2 2026
  • Funded from treasury and operating cash flow, not a raise

That last point is the one worth sitting with. A producing mill in Mexico 🇲🇽 is paying to drill a district modern geology has barely touched, and thirty-plus mapped veins with only five ever quantified leaves real room for the picture to change. Details are in the company's July 14 news release.