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Gold Market Context: Macro Drivers Key macro instruments that drive gold price movements: dollar, yields, risk appetite DXY US Dollar Index 101.10 pts ▼ 0.37 (-0.36%) tailwind for gold Gold inverse — rising dollar pressures gold | US10Y 10-Yr Treasury 4.63 % ▼ 0.07 (-1.45%) tailwind for gold Real yield pressure — higher yields weigh on gold | SPX S&P 500 7,392.00 pts ▼ 106.96 (-1.43%) tailwind for gold Risk appetite — equity rallies reduce safe-haven demand | BTC Bitcoin 64,103.34 USD ▼ 208.47 (-0.32%) negative for gold Alt safe haven — moves with gold in risk-off | WTI Crude Oil (WTI) 84.62 $/bbl ▼ 4.69 (-5.25%) negative for gold Inflation proxy — rising oil can lift gold | EURUSD EUR / USD 1.14 ▲ 0.00 (+0.10%) positive for gold Dollar strength gauge — inverse to DXY |
| ▲ Rising DXY or yields typically pressure gold | ▲ Falling yields or geopolitical risk support gold | Live data — fetched at send time |
Market Commentary Independence Gold | TSX-V: IGO • New high-grade discovery at the 3Ts Project, BC. • Goofy Vein returning 14.70 g/t gold over 9.10 metres, July 2026. • New Gold-Silver Vein discovered at Balrog Target. • Second drill rig added with AI mineral targeting system. • Portfolio spans BC and Yukon, from early-stage grassroots to advanced resource expansion. Check it out → |
Today's Interesting Company News Emperor Metals Expands Near-Surface Gold With 21.3 M of 3.0 G/t Au at Duquesne West, Quebec(CSE: AUOZ) (OTCQB: EMAUF) Emperor Metals Inc. reported results from its 2026 exploration campaign at the Duquesne West Project, integrating more than 20,000 meters of new drilling with 8,000 meters of targeted historical core resampling, adding over 28,000 meters of new data. More than 135,000 meters of drilling have been completed to date, with 66 holes drilled in the 2025/2026 program and results reported for 31 of these holes, representing approximately 10,133 meters. The property currently hosts an updated inferred mineral resource estimate (MRE) of 26.9 million tonnes containing 1.46 million ounces of gold at an average grade of 1.69 g/t Au. Key intercepts include 21.3 meters grading 3.0 g/t Au from 65 meters (45 meters vertical depth) and 1.0 meter grading 12.7 g/t Au. Emperor agreed to acquire a 100% interest in a mineral claim package comprising 38 claims covering approximately 1,389 ha from Duparquet Assets Ltd. The company projects advancing the project to a Preliminary Economic Assessment (PEA) in the near term and targets a multi-million-ounce gold resource at Duquesne West. G Mining Ventures and G2 Goldfields Announce Closing of Arrangement(TSX:GMIN, OTCQX:GMINF) G Mining Ventures Corp. has acquired all of the issued and outstanding common shares of G2 Goldfields Inc. (TSX:GTWO; OTCQX:GUYGF) under a plan of arrangement pursuant to the Canada Business Corporations Act. Each G2 Share was exchanged for 0.212 of a common share of GMIN and 0.50 of a common share of G3 Goldfields Inc. G2 has completed a spin-out transaction with G3 Goldfields Inc., and G3 has applied to list its common shares for trading on the Canadian Securities Exchange, subject to meeting listing requirements. It is expected that the G2 Shares will be delisted from the Toronto Stock Exchange and withdrawn from quotation on the OTCQX Best Market, and that G2 will cease to be a reporting issuer under applicable Canadian securities laws. The historical mineral estimates of the Oko-Ghanie Project are supported by a NI 43-101 technical report with an effective date of December 8, 2025. The company projects that upon completion of additional work, a press release will be issued to reflect the results for the combined mineral resources of the Oko-Ghanie Project and the Oko West Project, and a technical report will be issued within 45 days thereof in accordance with NI 43-101. Additional technical studies will continue with an intention to release a technical report in 2027. White Gold Provides Resource Growth and New Discovery Exploration Update on Its White Gold and QV Properties, Yukon(TSXV: WGO) (OTCQX: WHGOF) White Gold Corp. announced an update on its fully funded 2026 exploration program across its district-scale land package in the White Gold District in Yukon, Canada. The 2026 program has completed 18 diamond drill holes totaling approximately 7,000 meters to date, with three drill rigs in operation, marking the largest exploration drill program in the company's history. The Golden Saddle deposit contains an open-pit resource of 1.614 million ounces Indicated (31.03 Mt @ 1.62 g/t Au) and 268,700 ounces Inferred (7.84 Mt @ 1.07 g/t Au), while the VG deposit comprises 296,000 ounces Inferred (6.285 Mt @ 1.46 g/t Au). The Arc deposit contains 115,800 ounces Indicated (4.113 Mt @ 0.88 g/t Au) and 397,000 ounces Inferred (12.25 Mt @ 1.01 g/t Au), and Ryan's Surprise contains 293,400 ounces Inferred (5.820 Mt @ 1.57 g/t Au). The company's flagship White Gold project hosts four near-surface gold deposits with a collective resource estimate of 1,732,300 ounces of gold in indicated resources (35.2 million tonnes grading 1.53 g/t Au) and 1,265,900 ounces of gold in inferred resources (32.2 million tonnes grading 1.22 g/t Au). The company projects the Maiden Preliminary Economic Assessment on the White Gold Project is underway and expected to be delivered along with drill assays in the near term. The 2026 drill program is targeting 15,000 to 20,000 meters of diamond drilling utilizing three drill rigs, supported by strategic partners including Agnico Eagle Mines Limited (TSX: AEM) (NYSE: AEM). Allied Gold Announces Termination of Arrangement Agreement With Zijin Gold and a US$295 Million Strategic Investment in Allied Gold by Zijin Gold(TSX: AAUC, NYSE: AAUC) Allied Gold Corporation announced that the previously announced arrangement agreement between the Company and Zijin Gold International Company Ltd. has been terminated as both companies have concluded that there is no reasonable likelihood that the conditions relating to completion of the Transaction will be fulfilled by the outside date of July 29, 2026 or within any reasonable time thereafter. Zijin Gold has agreed to make a strategic investment in Allied of approximately US$295 million, at a subscription price representing a premium to the current market price of the Company’s common shares on the Toronto Stock Exchange. Zijin Gold will subscribe for approximately 12.8 million common shares of the Company at a price of C$32.55 per Subscription Share, for aggregate gross proceeds of approximately US$295 million (approximately C$417 million). On completion of the Strategic Investment, Zijin Gold will hold approximately 9.2% of the issued and outstanding common shares of the Company. Completion of the Strategic Investment is subject to the approval of the TSX and the New York Stock Exchange and is expected to occur on or about August 10, 2026. The net proceeds of the Strategic Investment are expected to be used by the Company for the continued advancement of its growth initiatives, including operational optimizations, the completion and ramp-up of Kurmuk, the phased expansion of Sadiola, production increases at the CDI Complex, and exploration efforts across the Company’s portfolio. Pacific Bay Starts Exploration at Weaver Gold Property(TSXV: PBM) Pacific Bay Minerals Ltd. has commenced exploration at its Weaver Gold Property in southwestern British Columbia. An exploration team has mobilized to conduct geological mapping, geochemical soil and silt sampling, prospecting, and other work. The Weaver Gold Project is under option to Aurwest Resources Corporation (CSE: AWR), whereby Aurwest can earn a 50% interest in the Property over three years. Historical drilling at the Weaver Gold Property returned intercepts such as 16.6 g/t gold and 91.9 g/t silver over 1.52 meters, 11.8 g/t gold and 44.6 g/t silver over 2.13 meters (1975), 8.61 g/t gold and 46.2 g/t silver over 3.05 meters, and 2.06 g/t gold and 21.4 g/t silver over 6.10 meters (1996), and 2.49 g/t gold and 7.52 g/t silver over 1.53 meters (2018). Pacific Bay's 100% owned Haskins-Reed Critical Minerals Project in northwestern BC hosts tungsten, copper, bismuth, silver, lead, and zinc in multiple high-grade polymetallic zones, over 150 drill holes, and underground workings. Pacific Bay also recently signed an option agreement to acquire 100% of the Mount Haskins claims, adjoining Haskins-Reed directly to the north. The company projects further exploration and potential geophysical exploration and drilling at the Weaver Gold Property. Golden Spike Announces Change of Directors and Appointment of Ryan Connacher as CEO(CSE: GLDS) (OTCQB: GSPRF) Golden Spike Resources Corp. announced that Mr. Ryan Connacher has consented to act as a Director and Chief Executive Officer of the Company. Mr. Joseph Cullen has resigned as a director, and Keith Anderson has resigned as CEO but will remain as President and a director of the Board. Ryan Connacher is also the Co-Founder and Chief Executive Officer of Freeport Recovery Group Inc., where he has raised $2 million since May 2025 and built the organization to two CARF-accredited addiction treatment campuses in St. Catharines, Ontario, and a team of more than 30. Golden Spike Resources Corp. currently holds 100% interest in the 5,175-hectare Gregory River Property in Newfoundland, which is centered over an approximate 11-kilometre-long stretch of the Gregory River VMS-belt. The Property hosts a cluster of historically explored, high-grade, copper ±gold-zinc vein structures and breccia hosted stockworks. The company states that it remains dedicated to sustainable exploration practices and continues to collaborate with local communities, consultants, and stakeholders as it progresses its exploration initiatives. The company projects to identify strategic opportunities that can drive long-term growth and create value for shareholders. West Point Gold Confirms High-Grade Continuity at NE Tyro; Intersecting 62.5m at 3.1 G/t Au, Including 38.1m at 4.66 G/t Au(TSXV: WPG) (OTCQX: WPGCF) West Point Gold Corp. announced results from two more drill holes at its flagship Gold Chain Project in Arizona, including Hole GC26-166, which intersected 62.5 metres of 3.1 grams per tonne gold from 233m, with an estimated true width of 30m and including 38.1m at 4.7 g/t Au. Hole GC26-163 intersected 54.9m at 2.02 g/t Au, including 19.8m at 4.40 g/t Au beginning approximately 197m below surface. The company reported assay results for two drill holes totaling 594.3m from the recently completed 21,079m drill program, with assays pending for 4,907m from the Tyro Main Zone and Black Dyke targets. The NE Tyro vein is well developed between 300 and 350m below the surface and remains open to depth and to the northeast towards the Frisco Graben. West Point Gold intends to issue 46,110 common shares at CDN$1.466 per share in connection with a US$48,000 (CDN$67,598) share payment due under the option agreement for the Gold Chain Project. The company projects its maiden resource estimate to be released later in 2026. The share for debt transaction remains subject to TSX Venture Exchange approval. Allied Gold Announces Preliminary Second Quarter 2026 Operating Results(TSX: AAUC, NYSE: AAUC) Allied Gold Corporation reported preliminary operating results for the quarter ended June 30, 2026, producing 97,429 gold ounces in the second quarter and 193,445 gold ounces for the half year. All-in Sustaining Costs (AISC) for the second quarter are expected to be below $2,200 per ounce of gold sold, with realized gold prices for spot sales in the second quarter at approximately $4,380 per ounce. As of June 30, 2026, cash balances are estimated at $190 million, with the difference from the previous quarter-end attributable to growth capital expenditures, particularly for the development of the Kurmuk Mine. The Kurmuk Mine's start of operations is expected in August, with first gold following a few weeks thereafter, and is projected to contribute between 100,000 and 150,000 gold ounces for 2026. The company targets production of between 240,000 and 270,000 gold ounces in 2027 and approximately 300,000 gold ounces in 2028 from the Kurmuk Mine, all at industry-leading costs. Mineral Reserves and Mineral Resources updates for Agbaou demonstrate an increase of more than 60% over the year-end 2025 estimates, extending mine life to 2030. Liquidity will be further strengthened by the proceeds of the recently announced strategic investment by Zijin Gold. Pilar Gold | Pre-IPO Investment Opportunity • Equity raise for the restart of a fully equipped gold mine in Brazil. • 4 million oz resource, full infrastructure, resuming production Q3 2026. • Estimated AISC below $1,400/oz: highly profitable at today's gold prices. • Hub & spoke growth strategy targeting 40k oz/yr near-term, 80k oz/yr medium-term. • Management team behind Laiva Gold, Gold Road, Tucano Gold & Pure Tungsten. • C$5M private placement at C$0.30/share — closing July 31, 2026. Don't miss this → |
Dryden Gold Discovers Two New Gold Bearing Structures Further Expanding the Mineralized Footprint at Gold Rock(TSXV: DRY) (OTCQX: DRYGF) Dryden Gold Corp. announced recent drill results confirming the discovery of two new gold-bearing structures at Gold Rock. The company has now drilled over 34,000 meters, expanding the mineralized footprint from three structures and two high-grade zones to over fifteen structures and a dozen high-grade zones. Drillhole DGR-060C intersected 3.38 g/t gold over 4.30 meters, including 19.90 g/t gold over 0.50 meters at 250 meters true depth, while DGR-065 intersected 2.12 g/t gold over 1.02 meters at 500 meters true depth. The Paymaster target expanded the mineralized footprint across Gold Rock from 500 meters to 750 meters. The current exploration program will systematically evaluate Elora 2 to define the distribution and periodicity of high-grade zones across the entire mineralized system. The company is drilling NQ size core, and all sampling is subject to internal quality control and quality assurance programs. Dryden Gold controls 100% interest in mining claims in a dominant strategic land position in the Dryden District of Northwestern Ontario. Maverick Gold and Silver Prepares for Drill Program at Silver Vista Property, British Columbia(CSE: MAV) Maverick Gold and Silver Corp. announces that final preparations for its fully funded drill program at the Silver Vista copper-silver property are underway. The Silver Vista property is located 55 kilometres northeast of Smithers, B.C., and is comprised of 12 mineral claims that cover 5,134.5 hectares, or 51.35 square kilometres. The company is completing a comprehensive study of the drill core from 2018 and 2021, using a platform that integrates visible, UV, VNIR and SWIR imaging sensors to produce continuous hyperspectral datasets. Drilling completed on the project to date totals 4,064 metres in 30 drill holes, including drilling from 1991, 1992, 2018, and 2021. Highlight drill intersections include 61.91 metres at 40.5 g/t Ag and 0.11% Cu (MR 91-3), and 2.84 metres at 195.7 g/t Ag and 3.65% Cu (MR 92-02). The company projects that the new model will allow it to prioritize sites for the upcoming drill program. The exploration target at Silver Vista is a sedimentary silver-copper deposit similar to Hecla Mining's Libby and Rock Creek deposits in Montana. Greatland Gold: June 2026 Quarterly Activities Report(AIM:GGP) Greatland Resources Limited reported June quarter production of 79,100 ounces of gold and 3,573 tonnes of copper at an AISC of $2,312/oz, resulting in FY26 production of 328,987oz Au and 14,594t Cu at an AISC of $2,179/oz, exceeding guidance of 260,000 - 310,000oz at $2,400 - $2,800/oz. Sales for the quarter were 74,648oz Au and 3,531t Cu at weighted average realised prices of $6,468/oz gold and $16,107/t copper, generating net revenue of $545 million. Cash flow from operations was $302 million, with a cash build of $81 million and a closing cash balance of $1,289 million at 30 June 2026, debt free. $59 million in Telfer growth capex was invested during the quarter, and the Telfer Ore Reserve Estimate was upgraded by 1.1Moz to 1.8Moz (+150%) as at 31 March 2026, with Group Ore Reserves growing to 5.0Moz. The company projects FY27 gold production of 260,000 - 300,000 ounces at an AISC of $2,900 - $3,330/oz, with Telfer growth capital guidance of $315 - $335 million and Havieron growth capital (pre-production) of $365 - $435 million. First gold from Havieron is expected ~2.5 years from commencement, during FY29, and first gold at West Dome Underground is targeted for FY28, subject to study outcomes. Exceptional drill results were received from the Pinnacles prospect, including 58.7m @ 6.5g/t Au & 0.1% Cu from 1,754m, confirming a ~1.2km extension to the West Dome geological structure. Golden Globe Resources Validates Dooloo Creek Copper-Gold Model With Phase 1 Drilling(ASX: GGR) Golden Globe Resources has confirmed copper-gold mineralisation at both the Northern Gold and Eastern Breccia prospects through its Phase 1 diamond drilling program at the Dooloo Creek project in Queensland. The standout result at Northern Gold was 7.38 metres at 0.55% copper and 0.46 grams per tonne gold from 53.62m, including 1m at 2.74% copper and 2.6g/t gold. At Eastern Breccia, drilling returned 45.55m at 0.07% copper and 0.43g/t gold from 92m, including 6m at 0.28% copper and 2.18g/t gold, and a narrower 0.61m zone at 0.47% copper and 6.5g/t gold. Golden Globe finished the quarter with approximately $3.5 million in cash after recording $1.23m in exploration and evaluation payments during the period. Since listing in October 2025, the company has spent $1.49m of the $3.66m allocated to Dooloo Creek, leaving $2.17m available for the project. The quarter-end cash position represented an estimated 2.07 quarters of funding based on combined operating and exploration outgoings of $1.72m. Golden Globe retains 100% ownership of its Queensland tenements and can earn up to 90% of the Neila Creek Project in New South Wales. Verity Resources Announces Maiden Indicated MRE at Monument Gold Project as Botswana Program Continues(ASX: VRL) Verity Resources achieved significant progress across its Australian and southern African gold portfolios during the three months to end June, including the delivery of a maiden Indicated mineral resource estimate (MRE) of 1.18 million tonnes at 1.75 grams per tonne gold for 66,200 ounces for its flagship Monument project in Western Australia. The project’s total MRE was boosted to 2.5Mt at 1.72g/t for 137,700 ounces of contained gold (Indicated and Inferred) following completion of an 11,000-metre infill drilling program. A maiden high-grade underground resource component of 1.37Mt at 1.75g/t gold for 77,100oz (Indicated and Inferred) was also defined below the Korong and Waihi pit shells. Metallurgical recoveries of up to 97% were reported across weathered saprock and fresh rock domains in composite samples from Waihi, with earlier recoveries of up to 98.1% from Korong and 29% gravity recoveries. Verity completed a systematic soil sampling campaign in April, returning a coherent gold-in-soil anomaly over 1.1 kilometres of strike at a peak value of 64 parts per billion gold, and commenced a 56-hole aircore drilling campaign for a total 2,800m across priority targets. In Botswana, the company commenced first-pass soil geochemical sampling and geological mapping across 903 sq km of tenements in the Limpopo Mobile Belt, with an exploration pitting and bulk sampling program designed for the main Airstrip, Dibete, and Maibele North prospects. High-Tech Metals and SSH Group Release Updated MRE at Wagtail Gold JV(ASX: HTM) and (ASX: SSH) have announced an updated mineral resource estimate (MRE) for the high-grade Wagtail gold joint venture (JV) in Western Australia. The new estimate comprises 105,000 tonnes at 3.8 grams per tonne gold for 13,000 ounces, including 69,000t at 4.2g/t for 9,000oz (indicated) and 36,000t at 3g/t for 3,000oz (inferred). The estimate is reported at a 0.5g/t cut-off for the near-surface portion and a 1.6g/t cut-off for the deeper portion. The update incorporates all drilling completed over the past two years, including 65 reverse circulation holes for 3,324 metres. SSH funds and manages the technical programs required to advance the deposit towards development, while High-Tech retains ownership and participates in future project economics through agreed profit sharing. The updated MRE will provide the technical foundation for an ongoing scoping study, mine optimisation, metallurgical test work, and permitting activities. The deposit remains open beyond the current MRE limits, with opportunities for future resource growth through further drilling. Auro Intersects 542m Grading 0.60 G/t Gold and 0.12% Copper at the Santa Barbara Gold-Copper Project, Ecuador(TSXV:AURO) Auro Metals Inc. announced the third batch of assay results from four drillholes in its 2026 Phase I Drill Program at the 100%-owned Santa Barbara Gold-Copper Project in southeastern Ecuador. Drillhole DSB-60 intersected 542 metres grading 0.60 g/t gold and 0.12% copper from 198m to 740m, while DSB-62 intersected 149.5m grading 0.66 g/t gold and 0.06% copper from 24.0m, including 29.4m at 1.53 g/t gold and 0.11% copper from 34.0m. DSB-63 intersected 143m grading 0.74 g/t gold and 0.10% copper from surface, including 36.5m at 1.25 g/t gold and 0.14% copper from 30.0m, and 85.1m at 0.44 g/t gold and 0.08% copper from 165.9m. DSB-64 intersected 121.65m grading 0.44 g/t gold and 0.07% copper from 20.5m. The Santa Barbara Project hosts Indicated resources of 29.8 million tonnes grading 0.73 g/t gold and 0.10% copper (697,000 ounces gold and 68 million pounds copper) and Inferred resources of 205.7 million tonnes grading 0.52 g/t gold and 0.09% copper (3,418,000 ounces gold and 426 million pounds copper). Since the program began, 19 drill holes have been completed, assay results for 10 holes have been received, and 9 holes are pending assays. The company projects that mineralization is open in both up-dip and down-dip directions and plans to share further assay results when available. Kingfisher Announces Closing of Strategic Investment From Barrick(TSXV:KFR, OTCQB:KGFMF) Kingfisher Metals Corp. announced completion of a non-brokered private placement, resulting in Barrick Mining Corporation subscribing for 15,470,934 units of Kingfisher at a price of C$1.35 per Unit for gross proceeds to Kingfisher of C$20,885,761. Each Unit consisted of one common share and one-half of a common share purchase warrant, with each whole warrant entitling the holder to purchase one share for C$1.70 per share for two years. Following the placement, Barrick owns 9.9% of the issued and outstanding shares on a non-diluted post-transaction basis and 14.1% on a partially-diluted post-transaction basis, assuming exercise of all warrants. At least 80% of the proceeds from the placement are to be used for exploration and development of the HWY 37 project located in British Columbia, with the balance for general working capital and other purposes. All securities issued are subject to a four-month-and-one-day statutory hold period expiring November 29, 2026. Kingfisher currently has 156,272,063 shares outstanding as of the date of this news release. Sankamap Metals | CSE: SCU • Drilling resumed at Kuma: first assays pending. • Two 100%-owned, fully permitted copper-gold properties in the Solomon Islands. • Positioned along the same prolific geological trend that hosts the world-class 71.9 Moz Lihir Gold Mine. • District-scale prospecting program launched across the Oceania Project. • Canada-listed, Pacific-focused. Find out more → |
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