This week’s newsletter is exclusively sponsored by Core Nickel Corporation
Core Nickel is a nickel-copper-cobalt exploration company focused on high-grade nickel sulphide discoveries at the Mel Project in Canada
For more information, visit their website
Early stage Exploration
Iltani Resources finds more silver at the Orient West target located on the Herberton project.
As the company approaches a long-awaited MRE, these initial results indicate good potential for a decent MRE.
Silver mineralization
Highlight from ORR070
11m @ 255.7 g/t Ag Eq from 49m inc. 2m @ 418.1 g/t Ag Eq. from 57m downhole
10m @ 220.3 g/t Ag Eq from 64m inc. 2m @ 679.2 g/t Ag Eq. from 64m downhole
10m @ 139.9 g/t Ag Eq from 86m inc. 6m @ 162.5 g/t Ag Eq. from 87m downhole
Indium mineralization
Highlight from ORR069
8m @ 36.8 g/t Ag, 219.1 g/t In, 0.4% Pb & 3.2% Zn from 184m inc. 3m @ 72.2 g/t Ag, 570.1 g/t In, 0.5% Pb & 7.8% Zn from 184m inc. 1m @ 125.8 g/t Ag, 1272.1 g/t In, 1.0% Pb & 17.3% Zn from 185m downhole.
These results are part of infill drilling at the Orient target. The company has drilled 4 RC holes on 100m spacing to target high-grade core within a low-grade stockwork at the western target. Iltani’s strategy is to define an initial JORC-compliant Mineral Resource Estimate based on the higher-grade material within the 900m by 350m High Grade Core Area.
District Metals Corp provides an update on Swedish Polymetallic projects
The company recently announced drill result from its Stollberg project in JV with Boliden.
With a highlight of
11.0 m at 5.8% Zn, 1.1% Pb, 20 g/t Ag at Stollberg
This week the company also provided an update on the Tomtebo property located close to Stollberg in the famous Bergslagen mining district of central Sweden.
Drilling at Tomtebo has already found success with the drill bit hitting massive compact polymetallic sulphide in 2024. This week, they announced further compact massive sulphide has been drilled under historic workings.
With a major mining company footing the bill like Boliden, these initial results could be a catalyst for District in future potential operations.
Back to Scandinavia, Mawson Finland Limited, a spin-off of Mawson Gold, has identified free gold in drilling at Rajapalot.
With the 2025 drilling campaign being complete, with the total being 11,397 over 33 holes. With some significant sulphides being intersected in separate holes. Gold in this region is often times free of intermixed with heavily altered pyrite.
Mawson Finland is a well-funded vehicle spun out of Mawson gold, the company just closed a $6,000,000 private placement and looks to keep the results coming. Assays are pending on the winter drill program and this will be one to watch
Mid stage Exploration
Southern Cross Gold Consolidated Ltd TSXV:SXGC ASX:SX2 Strikes it rich in the baking Australian sun
Drilling at the Apollo prospect on the Sunday Creek project has proven the gold at extreme depths. At 820m down the company found 100.5m of 3.1 g/t Au, again proving the extent to this geology system.
In addition to the lower grade, a high grade of 28.6m of 10.3 g/t Au
Antimony has been found in all mineralized envelops beneath the Apollo mine.
Key geological takeaways
At Sunday Creek, gold and antimony form in a relay of vein sets that cut across a steeply dipping zone of intensely altered rocks (the “host”). These vein sets are like a “Golden Ladder” structure where the main host extends between the side rails deep into the earth, with multiple cross-cutting vein sets that host the goldforming the rungs. At Apollo and Rising Sun, these individual ‘rungs’ have been defined over 600 m depthextent from surface to over 1,100 m below surface, are 2.5 m to 3.8 m wide (median widths) (and up to 10m), and 20 m to 100 m in strike
Brunswick Exploration Drills 36 Meters at 1.51% and Continues to Extend the Mineralized Footprint of Mirage
The Mirage Project is located in the Eeyou Istchee-James Bay region of Quebec, approximately 40 kilometers south of the Trans-Taiga Road. This release focuses on the Central Zone including the MR-6, MR-3 dykes and Stacked Dyke area where BRW has continued to intersect wide and well mineralized intervals along strike and at depth.
Mineralized pegmatite ranges from 1m up to 36m @ 1.51% Li20. Spodumene is the primary bearer of lithium, common to the James bay area
Mr. Killian Charles , President and CEO of BRW, commented:
To date, every drill campaign has demonstrated the significant exploration upside at Mirage and these first results from our winter 2025 campaign are no different. We have successfully extended the MR-6 pegmatite and continue to rapidly add considerable intercepts in the neighboring Stacked Dyke area. Interestingly, this high potential target area has continued to return multiple significant mineralized intercepts over the entirety of each drill hole and the Stacked Dyke area remains open in multiple directions.
Late Stage Exploration
Newmont Corporation Reports First Quarter 2025 Results
Q1 Highlights
Reported Net Income of $1.9 billion, Adjusted Net Income (ANI)2 of $1.25 per diluted share and Adjusted EBITDA2 of $2.6 billion
On track to meet Newmont’s 2025 guidance3, with first quarter results in line with indications provided in February 2025
Completed divestiture program announced in 2024, and finalized the sales of Musselwhite, Éléonore and Cripple Creek & Victor (CC&V) in February, and Porcupine and Akyem in April 4
Received over $2.5 billion in cash proceeds net of tax impacts from the divestiture sales closed in 2025, with total gross proceeds expected to total up to $4.3 billion from non-core asset and other investment sales
Generated $2.0 billion of cash from operating activities, net of working capital changes of $(141) million; reported a record first quarter Free Cash Flow2 of $1.2 billion
Delivered $1.0 billion in total returns to shareholders through share repurchases and dividend payments since the start of the year; declared a dividend of $0.25 per share of common stock for the first quarter of 2025
Produced 1.5 million attributable gold ounces, primarily driven by production of 1.3 million gold ounces from Newmont’s Tier 1 Portfolio, as well as 35 thousand tonnes of copper
Maintained a strong and flexible investment-grade balance sheet, ending the quarter with $4.7 billion in cash and $8.8 billion in total liquidity
Reduced debt by $1.0 billion since the start of the year, which includes early redemption of $928 million of 2026 Notes redeemed on February 7, 2025 and $75 million in market purchases6; reported Net debt to Adjusted EBITDA2 of 0.3x
Blue Moon Metals Inc. Announces Maiden NI 43-101 Sulitjelma Resource of 17 Mt @ 1.06% Cu & 0.21% Zn in the Inferred Category Supporting VMS District Growth Potential
The MRE includes 17 million tonnes grading 1.06% Cu and 0.21% Zn in the inferred category over three deposits, supporting the project’s potential for further growth. The resource estimate does not include gold, silver or sulfur which were historically recovered and considered by-product credits. The Company plans to advance the project through additional exploration and technical studies to further evaluate its economic viability.
The CEO of Blue Moon, Christian Kargl-Simard stated:
With 100 years of production history, this resource estimate is the first NI 43-101 resource on this VMS district, in which Blue Moon holds the most important concessions. Blue Moon has the exclusive option to buy the historical processing plant infrastructure for a nominal value of 1 NOK (~US$0.1) and has access to numerous historical mining tunnels for efficient underground exploration. While the Rupsi deposit will be the focus of exploration to start, with historical intercepts such as 3.2 m apparent true thickness grading 6.82% Cu and 0.85% Zn, we think there are many other interesting targets in the district that could potentially result in several mining centres in due course. We think Blue Moon can bring back mining in this district, with a much more efficient and modern practice by the end of this decade, with exciting regular drill results. The addition of gold, silver, sulfur and cobalt in a future resource would also increase the strategic nature of the deposit. We plan to start underground development in Q3-2025.”
