u/Bay_Street_Press

Posted on behalf of Midnight Sun Mining Corp. - Haywood Capital Markets has reaffirmed its constructive stance on Midnight Sun Mining Corp. (TSXV: MMA | OTCQB: MDNGF), maintaining a Buy rating and C$3.00 target price, while acknowledging the evolving grade profile at Dumbwa.

https://preview.redd.it/8qh5uxy8d52h1.png?width=1026&format=png&auto=webp&s=96c07fcd40b84ccf8244d1a44c34a9f3fc24afc6

Longer strike, lower grade — but still viable

Drilling at the Dumbwa copper deposit in Zambia has now confirmed continuous near-surface sulphide mineralization over ~5.3 km of strike, based on 200 holes totaling 42,000 metres drilled to date. Assays have been received for 149 holes, covering roughly the first 4 km of strike.

While grades have generally come in lower than earlier expectations — with many intercepts in the 0.30%–0.40% Cu range — Haywood notes that most holes exceed 0.1% Cu, which could support economic viability under a bulk-tonnage, modest strip-ratio scenario.

Select highlights include:

- 0.40% Cu over 93m from 152m

- 0.58% Cu over 36m from 106m

- 0.85% Cu over 18m from 23m

- Narrower intervals approaching 1% Cu

The defined medium-to-high-grade zones extend over approximately 3.3 km of strike, with widths ranging from 200m to over 500m.

Lumwana analogue thesis remains intact

Haywood emphasizes geological similarities between Dumbwa and the nearby Lumwana deposit — both basement-hosted, gently dipping copper sulphide systems within strained schists. Grade variability along strike appears structurally controlled, but continuity and shallow geometry support a straightforward open-pit development model.

Path to scale

Four rigs continue to delineate the system, with the first half of Dumbwa’s 11.2 km mineralized corridor expected to be drilled by September. Haywood suggests this could support a maiden resource by year-end, potentially approaching 1 billion tonnes, based on management’s conceptual estimate of ~100 Mt per kilometre of strike.

The broader 20 km copper-in-soil anomaly remains largely untested and is slated for follow-up in 2027.

Balance sheet strength

Midnight Sun remains well financed, with over $25 million in cash, and expects to retain approximately $15 million by completion of the current Dumbwa program. Discussions regarding a potential sale of the Kazhiba property could yield up to $50 million in additional capital.

Institutional perspective

Haywood acknowledges the recent 27.5% share price pullback but reiterates confidence in the bulk-tonnage trajectory:

The combination of scale potential, shallow mineralization, infrastructure proximity, and a gradual dip supporting a reasonable strip ratio underpins the firm’s continued conviction.

The conclusion: while grade expectations have moderated, the thesis has shifted toward scale. For patient investors, Haywood maintains that Dumbwa retains the potential to evolve into a billion-tonne copper system.

https://clientcentre.haywood.com/docs/default-source/research-reports/MMAMay142026.pdf

Posted on behalf of TooGood Gold Corp. - (TSXV: TGC | OTCQB: TGGCF | FSE: D3P) may be evolving into a multi-jurisdictional gold explorer — but Table Mountain, Nevada is emerging as a materially under-recognized asset within the story.

Table Mountain represents a true first-pass, district-scale low-sulphidation epithermal gold-silver opportunity in one of the world’s most prolific gold jurisdictions . Located just 10 km south of the past-producing Atlanta Mine (>1 Moz oxide Au resource in 2024), the project sits within an active and increasingly strategic Nevada gold camp .

What differentiates Table Mountain is scale and preservation.

• A 4 x 2 km high-level alteration footprint, comparable in size to major Nevada epithermal systems .

• Multiple exposed Au-Ag-bearing quartz veins and kilometre-scale structural corridors — not a single-vein concept .

• Rock samples up to 2.6 g/t Au and >50 g/t Ag, with strong Sb-As-Hg pathfinder signatures consistent with an intact high-level epithermal system .

• Textbook upper-level textures (banded quartz-chalcedony, hydrothermal breccias, lattice calcite replacement) suggesting the system is preserved and the productive boiling zone may remain at depth .

Critically, there was no known historical drilling prior to 2025 . No trenching. No drill pads. No systematic modern exploration. This is not a recycled Nevada asset — it is a generative discovery play.

Table Mountain was generated by Orogen Royalties and Altius Minerals using the same methodology that led to the >4 Moz Silicon discovery in Nevada . Orogen’s management has described it as one of their most compelling greenfield drill opportunities — third-party validation that strengthens the thesis.

Phase 1 exploration is now underway, including detailed mapping, systematic soil sampling, drone magnetics and gravity surveys, with the objective of ranking high-impact drill targets for a maiden campaign .

The takeaway is clear:

Nevada jurisdiction.

District-scale footprint.

Preserved epithermal textures.

Surface gold-silver and correct pathfinders.

No historical drilling.

Near-term drill catalysts.

Table Mountain is not simply an add-on asset — it is a first-drill discovery opportunity in a tier-one gold address, and it remains underappreciated within TooGood Gold’s valuation.

https://toogoodgoldcorp.com/

Posted on behalf of Golden Cross Resources Inc. - is advancing a high-grade gold exploration story in Victoria, Australia, centered on its 100%-owned Reedy Creek Gold Project (~445 km²) in the prolific Lachlan Fold Belt.

Located ~10 km northeast of Southern Cross Gold’s Sunday Creek discovery, Reedy Creek sits within a tier-one orogenic gold district that hosts Bendigo, Ballarat, and Fosterville.

Historic drilling on the property returned standout intercepts including 11m @ 31.4 g/t Au and 2m @ 174 g/t Au, while current work has outlined a 3 km-long gold-in-soil anomaly.

Recent Drill Results (Aurora Prospect)

Maiden Phase 1 drilling (~4,000m) intersected gold in every hole, including:

• 0.4m @ 27.0 g/t Au

• 0.3m @ 5.35 g/t Au

Strong arsenic halos and structural controls support an orogenic “ladder vein” model similar to Fosterville and Costerfield-style high-grade systems. Follow-up drilling is underway with a second rig mobilized.

With a tight share structure (~74.5M shares outstanding; ~33% insider ownership) and a market cap of ~C$14–16M, Golden Cross offers leveraged exposure to discovery potential in one of Australia’s most active gold belts.

Still early-stage in the midst of defining their resource, but consistent gold intersections, district-scale tenure, and proximity to a major discovery position the company as a classic high-risk, high-reward junior exploration play with multiple upcoming drill catalysts.

https://goldencrossresources.com/golden-cross-reports-results-up-to-27g-t-au-from-maiden-drilling-at-aurora-and-provides-exploration-update/

Posted on behalf of Spartan Metals Corp. - (TSXV: W | OTCQB: SPRMF | FSE: J03) is gaining visibility as a U.S.-focused tungsten–molybdenum development story, with management set to present at several upcoming investor conferences.

Upcoming Appearances

• Critical Minerals Summit – Toronto (May 13–14)

▸ CEO Brett Marsh presenting May 14 at 10:30 am ET

• Commodities Global Expo – Washington, DC (May 17–19)

• Commodities Global Expo – Fort Lauderdale (May 20–22)

▸ Keynote speaker on the Critical Minerals Panel (May 22, 12:10 pm ET)

At approximately US$30M market capitalization, Spartan controls one of the largest historic tungsten-molybdenum resources in the United States at its Victorio Project in New Mexico. A Preliminary Economic Assessment, led by SRK Consulting, is underway with completion targeted for early Q4 2026.

The updated PEA will assess refreshed mineral resources (tungsten, molybdenum, beryllium, fluorite), metallurgical flowsheet design, capital and operating costs, and commodity price sensitivities — a defined catalyst in the current macro environment.

Spartan recently completed a C$5.5M financing at C$0.55 per unit, strengthening its balance sheet to advance Victorio and drill higher-grade tungsten targets at its Eagle Project.

With China dominating global tungsten supply, secure domestic U.S. sources are increasingly strategic. Spartan’s dual-track profile — large-scale Victorio plus higher-grade Eagle — positions the company within the tightening North American critical minerals narrative.

https://spartanmetals.com/spartan-metals-announces-attendance-at-investor-conferences/

Posted on behalf of IDEX Metals Corp. - (TSXV: IDEX | OTCQB: IDXMF) has engaged Geotech Drilling to execute a fully funded 10,000-metre, 20-hole diamond drill program at its Freeze Project in Idaho — the largest campaign in company history.

Two rigs are set to mobilize in early June, targeting 300–800m depths (up to 1,200m) across multiple copper-gold-moly porphyry targets.

In parallel, IDEX has expanded its IP survey from 37 to ~64 line-km, extending coverage toward the CM and Shiver targets to refine drill positioning before rigs turn.

With capital secured, a proven drilling partner engaged, and geophysics expanding in real time, IDEX enters the 2026 season with technical momentum and a systematic plan to test scale at Freeze.

Full Breakdown: https://www.reddit.com/r/MiningStocksCanada/comments/1tbdi8l/idex_launches_largest_drill_campaign_yet_10000m/

Posted on behalf of Excellon Resources Inc. - (TSXV: EXN | OTC: EXNRF) continues to see strong insider conviction as Eric Sprott adds to his position in the open market — even after participating in a recent $5M bought deal at $0.60 per share.

https://preview.redd.it/9rx88h0t4y0h1.png?width=1600&format=png&auto=webp&s=94a1b9919d538c2110dad1591c3e0bb23cdaba18

The buying comes as Excellon advances the commercial restart of the Mallay Silver-Lead-Zinc Mine in Peru, positioning the company for near-term cash flow leverage amid strengthening silver prices.

What differentiates Mallay

• Fully permitted, past-producing underground mine

• 100%-owned 600 tpd flotation plant on site

• Acquired from Buenaventura with ~US$115M in historical sunk capital

• Glencore offtake secured for lead and zinc concentrates

NI 43-101 Resource (April 8, 2026)

• 890 kt @ 420 g/t AgEq (12.01 Moz AgEq) Indicated

• 362 kt @ 344 g/t AgEq (4.00 Moz AgEq) Inferred

The mine plan outlines a pathway toward ~2 Moz AgEq annually, supported by modest restart capital and a 10,000-metre infill and extension drill program targeting mine life and throughput expansion.

Following a C$21.8M financing in March 2026, Sprott’s continued open-market purchases — bringing ownership to ~9.09% — signal sustained confidence at current valuation levels.

With infrastructure in place, secured offtake, compliant high-grade resources, and active drilling, Excellon presents a defined-scale silver restart story with operational leverage as the market tightens.

https://x.com/AllStreetsWolf/status/2054229247363879179

Posted on behalf of Spartan Metals Corp. - (TSXV: W | OTCQB: SPRMF | FSE: J03) will be presenting at several upcoming investor conferences as momentum builds around its U.S.-focused tungsten and molybdenum platform.

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Upcoming Appearances

• Critical Minerals Summit – Toronto (May 13–14)

CEO Brett Marsh presenting May 14 at 10:30 am ET

• Commodities Global Expo – Washington, DC (May 17–19)

• Commodities Global Expo – Fort Lauderdale (May 20–22)

Brett Marsh keynote speaker on the Critical Minerals Panel (May 22, 12:10 pm ET)

Why investors are paying attention

At ~US$30M market capitalization, Spartan controls one of the largest historic tungsten-molybdenum resources in the U.S. at its Victorio Project (New Mexico). A Preliminary Economic Assessment led by SRK Consulting is underway, targeting completion in early Q4 2026.

The updated PEA will evaluate:

• Refreshed mineral resources (W, Mo, Be, fluorite)

• Metallurgical flowsheet design

• Capital and operating cost estimates

• Commodity price sensitivity modelling

Spartan recently strengthened its balance sheet with a C$5.5M financing at C$0.55 per unit, positioning the company to advance Victorio and drill high-grade tungsten targets at its Eagle Project.

With China dominating global tungsten supply, secure U.S. sources are increasingly strategic. Spartan’s dual-track profile — large-scale Victorio plus higher-grade Eagle — aligns with growing institutional focus on domestic critical mineral supply chains.

Full conference details: https://spartanmetals.com/spartan-metals-announces-attendance-at-investor-conferences/

Posted on behalf of Excellon Resources Inc. - (TSXV: EXN | OTC: EXNRF) continues to see strong insider conviction as Eric Sprott adds to his position in the open market — even after participating in a recent $5M bought deal at $0.60 per share.

https://preview.redd.it/vhd4h3hwas0h1.png?width=1600&format=png&auto=webp&s=95d857b61d7b9d73883096eea1211a8ddad4bafb

The buying comes as Excellon advances the commercial restart of the Mallay Silver-Lead-Zinc Mine in Peru, positioning the company for near-term cash flow leverage amid strengthening silver prices.

What differentiates Mallay

• Fully permitted, past-producing underground mine

• 100%-owned 600 tpd flotation plant on site

• Acquired from Buenaventura with ~US$115M in historical sunk capital

• Glencore offtake secured for lead and zinc concentrates

NI 43-101 Resource (April 8, 2026)

• 890 kt @ 420 g/t AgEq (12.01 Moz AgEq) Indicated

• 362 kt @ 344 g/t AgEq (4.00 Moz AgEq) Inferred

The mine plan outlines a pathway toward ~2 Moz AgEq annually, supported by modest restart capital and a 10,000-metre infill and extension drill program targeting mine life and throughput expansion.

Following a C$21.8M financing in March 2026, Sprott’s continued open-market purchases — bringing ownership to ~9.09% — signal sustained confidence at current valuation levels.

With infrastructure in place, secured offtake, compliant high-grade resources, and active drilling, Excellon presents a defined-scale silver restart story with operational leverage as the market tightens.

https://x.com/AllStreetsWolf/status/2054229247363879179

Posted on behalf of Toogood Gold Corp. - (TSXV: TGC | OTCQB: TGGCF | FSE: D3P) is evolving from a single-asset explorer into a multi-jurisdictional gold discovery story, with high-impact projects in Nevada and Newfoundland.

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In a recent interview, CEO Colin Smith outlined how the LOI on the Table Mountain Project in Nevada materially reshapes the company’s trajectory .

Why Table Mountain Matters

• High-grade, surface-exposed epithermal veins with no prior drill testing

• District-scale alteration footprint comparable to major Nevada gold camps

• 184 BLM claims with streamlined permitting (notice-level permits; weeks, not years)

• Maiden discovery-focused drill program targeted for Q3 2026

Phase 1 will cover LiDAR, mapping, and systematic geochemistry & geophysics.

Management views the Nevada addition as transformative—creating a dual-track exploration strategy in two premier gold jurisdictions .

In Newfoundland, Toogood controls over 164 km² along a fertile structural corridor, with systematic groundwork advancing toward the next phase of drilling .

With district-scale land positions, clear permitting pathways, and discovery drilling on the horizon, Toogood Gold is positioning itself for a catalyst-rich 12 months ahead.

Full interview: https://www.youtube.com/watch?v=rMr5MfLrpqo

Posted on behalf of Defiance Silver Corp. - (TSXV: DEF | FSE: D4E) reported additional high-grade silver and gold results from its 10,000-metre drill program at the Zacatecas Project, further refining the Veta Grande structural model ahead of an updated Mineral Resource Estimate.

Headline Intercepts

• 1.20m of 356 g/t Ag and 2.15 g/t Au, within 11.02m grading 125.41 g/t Ag and 0.81 g/t Au

• 2.14m of 111.12 g/t Ag, including 0.68m of 208 g/t Ag

• 2.63m of 111.32 g/t Ag, including 0.26m of 543 g/t Ag

The latest results (1,486m reported; 4,039m completed to date) confirm structural continuity within the Veta Grande system and validate key aspects of the geological model across the NW, Central, and SE fault-bounded blocks.

Drilling has demonstrated well-developed vein systems at depth in the SE Block, confirmed historical intercepts through twinning, and identified high-grade mineralization within hanging wall splays.

With structural segmentation better defined and high-grade shoots emerging within targeted zones, Defiance continues to systematically build technical confidence in the San Acacio resource area.

Full drill details and geological context: https://www.reddit.com/r/PennyStocksCanada/comments/1taig7e/highgrade_silvergold_hits_defiance_silver_tsxv/

Posted on behalf of IDEX Metals Corp. - (TSXV: IDEX | OTCQB: IDXMF) has commenced its 2026 exploration season at the Freeze Property with a 37 line-kilometre Induced Polarization (IP) survey over the Kismet–North Breccia–Frostfall trend, known as the Kismet Corridor.

The IP program is designed to define near-surface structures and alteration zones, providing high-resolution targeting ahead of a planned May 2026 drill campaign. Survey lines oriented NW–SE will test the geometry, depth, and continuity of mineralization across the full strike length of the corridor.

This work builds directly on 2025 results, where prior IP and magnetotelluric data identified a large conductive body beneath North Breccia — coincident with a molybdenum-tellurium soil anomaly. Together, these datasets point toward a buried intrusive source consistent with a copper-molybdenum porphyry system.

2026 Drill Program

Drilling is expected to begin in May following IP interpretation. The program will target:

• The interpreted intrusive centre beneath North Breccia and Kismet

• The pyrite-rich sulphide shell intersected in 2025 (including hole KSMT25006)

• Expansion into the projected copper-molybdenum core

• Depth continuity and grade beneath North Breccia

Highlight Intercept:

Drillhole KSMT25002 — Kismet Tourmaline Breccia target, Freeze Project, Idaho

101 m @ 1.02% Cu (high-grade core)

Concurrent Surface Campaign

Alongside drilling, IDEX will conduct expanded soil sampling, rock sampling, and geological mapping across Frostfall, Devils Slide, Shiver, Shine, Coldsnap, and Olive Creek — strengthening the broader geological model of the Freeze Property within the Idaho Copper Belt.

The 2026 IP survey is a targeted de-risking step designed to refine drill collar placement and maximize exploration efficiency. With geophysical, geochemical, and drilling data converging on a high-priority porphyry target, IDEX is advancing Freeze with a systematic, data-driven approach into an active field season.