Junior Mining Intelligence · Friday snapshot
GoldVenture Weekly
Week ending September 18, 2026 · 397 companies tracked, 350 priced
Silver's 3.03% weekly gain to $66.21/oz was the dominant metal move for the week ending 2026-09-18, while copper added 2.44% to $6.72/lb — both against a four-week downtrend backdrop for most metals and a -5.46% collapse in lithium to $20,079.84/T. Junior performance was sharply bifurcated, with TUF surging 26.98% on a PEA release while four of the five top developments posted losses ranging from -12.86% to -33.33%. Study results and financing announcements were the dominant catalyst classes across 84 material releases and $381,005,200 in financings closed during the week.
What changed: breadth 42% up vs 27.4% last week; median 0.0% vs -2.7%; 12 deals for $249.1M vs 8 for $234.5M; 93 material releases vs 83.
Top developments
TUF (Honey Badger Silver) gained 26.98% after announcing a positive Preliminary Economic Assessment for the PC Silver Mine on 2026-09-17, highlighting significant silver and critical minerals production potential. Release ↗
GENM (Generation Mining Limited) fell -12.86% despite — or in reaction to dilution from — a $200,000,000 bought deal financing led by BMO Capital Markets, announced 2026-09-15 as full project financing for its PGM asset. Release ↗
ONAU (ONGold Resources) declined -18.42% following a 2026-09-14 resource update for the Monument Bay Gold Project in Manitoba reporting 2.0 million ounces of M&I at 0.84 g/t Au and 0.49 million ounces Inferred at 0.62 g/t Au, prepared by SRK Consulting with a US$3,000 gold price assumption. Release ↗
ETL (E3 Lithium) dropped -23.67% coincident with a $10,000,000 private placement announced 2026-09-18, with no additional operational catalyst disclosed in the window.
VLI (Vision Lithium) fell -33.33% with no material release in window — move appears technical.
Sector cohorts new
| Cohort | n | Median move | Median | % up | Metal wk | Best · worst |
|---|---|---|---|---|---|---|
| Gold last wk -2.6% | 214 | 0.0% | 48.1% | +0.70% | OMI +75.5% · ETL -23.7% | |
| Copper last wk -2.5% | 41 | -1.0% | 29.3% | +2.44% | BAY +22.2% · NBLC -33.3% | |
| Silver last wk -3.4% | 23 | 0.0% | 43.5% | +3.03% | APGO +7.6% · KUYA -7.3% | |
| Lithium last wk -3.5% | 12 | -2.5% | 25% | -5.46% | BRW +37.9% · PMC -16.7% | |
| Nickel last wk +5.3% | 7 | -0.7% | 28.6% | no quote | NNX +25.0% · NICN -19.1% | |
| Uranium last wk -2.6% | 6 | -9.2% | 0% | -0.55% | HLU -4.8% · ABA.V -15.0% |
By exchange: CSE 42.6% up, median 0.0% (n=47) · TSX 62.2% up, median +1.1% (n=45) · TSXV 38.4% up, median 0.0% (n=258)
Metals
Capital markets
By type
By commodity, share of dollars new
Solid: this week. Grey: prior four weeks.
Deal terms new
Price against the stock's current price and shares issued against shares outstanding, from the financing record.
| Company | Type | Amount ▾ | Price | vs market | Dilution | Warrants | Closes | Status |
|---|---|---|---|---|---|---|---|---|
| Founders Metals FDR Gold | Private Placement | $77.0M | $5.44 mkt $6.08 | -10.5% | 12.2% | none | Sep 17 | closed |
| First Mining Gold Corp. FF Gold | Bought Deal | $57.5M | $0.84 mkt $0.86 | -2.3% | 4.9% | none | Sep 24 | closed |
| Scout Discoveries Corp. Copper | Private Placement | $35.2M | $2.14 mkt — | — | — | none | Sep 18 | closed |
| Scottie Resources Corp. SCOT Gold | Private Placement | $27.0M | $2.90 mkt $2.97 | -2.4% | 12.1% | none | Sep 30 | announced |
| E3 Lithium ETL Gold | Bought Deal | $11.5M | $0.90 mkt $0.79 | +13.9% | 14.6% | $1.10 to Sep 24 | Sep 24 | closed |
| Sun Peak Metals Corp. PEAK.V Gold | Private Placement | $10.0M | $0.40 mkt $0.40 | 0.0% | 15.2% | $0.55 to Sep 29 | Oct 7 | announced |
| Perseverance Metals Inc. PMI Lithium | Private Placement | $8.0M | $0.65 mkt $0.71 | -8.5% | 31.9% | none | Oct 8 | announced |
| VR Resources Ltd. VRR.V Gold | Private Placement | $7.5M | $0.40 mkt $0.44 | -9.1% | 47.1% | $0.65 to Sep 18 | Sep 29 | closed |
| Canagold Resources Ltd. CCM Gold | Private Placement | $7.1M | $0.52 mkt $0.77 | -32.5% | 6.4% | none | Sep 18 | closed |
| Cantex Mine Development Corp. CD.V Gold | Private Placement | $3.8M | $0.25 mkt $0.29 | -13.8% | 9.6% | $0.40 to Sep 23 | Sep 18 | closed |
| Salazar Resources Ltd. SRL Gold | Private Placement | $3.5M | $0.35 mkt $0.41 | -13.6% | 3.8% | $0.60 to Sep 17 | Sep 22 | announced |
| New Age Metals Inc. NAM PGM | Private Placement | $1.0M | $0.20 mkt $0.21 | -7.0% | 6.9% | $0.25 to Sep 16 | Sep 16 | closed |
Insider activity new
Net buyers
Directors, officers and 10% holders paying market price with their own cash (SEDI filings). Grants, exercises and plan purchases are excluded. Canadian dollars.
| Mirasol Resources Ltd.MRZ | 3 buys · 1 insider | +C$1.20M |
| Yukon Metals Corp.YMC | 1 buy · 1 insider | +C$214K |
| Founders MetalsFDR | 2 buys · 1 insider | +C$185K |
5 more net buyers this week on the insider board.
Cluster buying: Apollo Silver (2 insiders, C$186K); Thunder Gold Corp. (2 insiders, C$121K); Pacifica Silver Corp. (2 insiders, C$94K) and 3 more.
Net sellers
Open-market sales; option exercises followed by a sale count only for the sale.
| Amerigo Resources Ltd.ARG | 11 sells · 2 insiders | −C$2.88M |
| Liberty GoldLGD | 2 sells · 1 insider | −C$2.61M |
| NorthIsle Copper and Gold IncNCX | 4 sells · 1 insider | −C$2.22M |
5 more net sellers this week on the insider board.
Insiders in placements: Founders Metals C$77.0M (100% of the round); Canagold Resources Ltd. C$5.15M (73% of the round); VR Resources Ltd. C$2.15M (29% of the round) and 3 more.
Source: SEDI filings as published by TMX Money. Full board at /insiders.
Financial filings new
Filed this week
Statements and MD&A first seen in the window. Cash and working capital are read from the balance sheet of processed statements; a material-uncertainty flag means the auditor or the notes cast doubt on going concern.
No current-period filings this week.
Filings due
NI 51-102 deadlines within 30 days: 120 days after year-end for annual statements, 60 after quarter-end for interims.
13 companies are past a filing deadline with nothing found on their site yet.
Drill and discovery board new
Drill results
Drill hole GD-26-431 at the Bonanza Zone of the Surebet discovery, Golddigger Property, Golden Triangle, British Columbia, returned 9.12 g/t AuEq over 11.27 metres, including 13.89 g/t AuEq over 7.14 metres, plus a second interval of 4.70 g/t AuEq over 3.03 metres within 1.08 g/t AuEq over 20.00 metres. GD-26-442 cut 8.35 g/t AuEq over 4.15 metres, including 31.42 g/t AuEq over 1.00 metre, and GD-26-426 returned 5.07 g/t AuEq over 3.91 metres. The 2026 program comprises approximately 50,000 metres with 7 rigs.
Drilling at the Bench Target on the Tower Mountain Property, 40 km west of Thunder Bay, Ontario, returned 121.5 metres averaging 0.376 g/t Au in hole TM26-205, located 200 metres east of the 2026 MRE pit limit and about 400 metres from surface; the same hole cut 158.6 metres averaging 0.545 g/t Au near surface, including 54.0 metres at 1.088 g/t Au. TM26-213 intersected 589.0 metres averaging 0.195 g/t Au over its entire length, including 287.7 metres at 0.223 g/t Au. All seven holes exceeded the 0.19 g/t Au cut-off. A further 7,500 metres of resource definition drilling is planned before year-end, ahead of a year-end MRE update.
Drilling at the Contact Lake Project in Saskatchewan's La Ronge Gold Belt returned 8.69 g/t gold over 11.97m from 613.03m in hole CL26050, including 31.98 g/t Au over 3.16m, 220.00 metres below the lowest historical Main Zone (BK1) mine workings. Buffer Zone holes CL26049 and CL26051 returned 3.46 g/t Au over 15.00m from 288.00m and 6.43 g/t Au over 7.45m from 209.45m respectively. Seventeen holes totalling 12,066 metres of a planned 20,000-metre program are complete, with about $20 million in cash and marketable securities.
Exploration hole CV26-013C at the Converse Gold Project on the Battle Mountain – Eureka Trend in Nevada returned 58.2m grading 1.85 g/t Au and 4.43 g/t Ag from 484m, including 19.8m at 4.83 g/t Au and 9.94 g/t Ag, stepping out 90 metres from the current mineral resource along the western margin of the Redline system. The result is pending 22 silver samples. A 3D inversion of 1995 aeromagnetic data identified an approximately 3 km northwest-southeast magnetic susceptibility low extending about 2 km west of defined Redline mineralization.
First reverse circulation assays from the Otis target at the 100%-owned Hot Springs Range Project in Humboldt County, Nevada returned 57.9 m @ 0.3 g/t Au in hole HSR2601, including 6.1 m @ 0.9 g/t Au, with the hole ending in 3.0 m @ 2.1 g/t Au at the rig's depth limit. Little Humboldt holes returned 35.0 m @ 0.3 g/t Au (HSR2604), 15.2 m @ 0.3 g/t Au (HSR2605) and 4.6 m @ 0.2 g/t Au (HSR2606). Mineralization trends and strengthens northeast and at depth; the Company plans to re-enter HSR2601 with core.
Drill hole MV26-DD13 at the Choquelimpie gold-silver-copper project in northern Chile returned 41 meters at 4.59 g/t gold, including 18 m at 9.7 g/t Au, in the Vizcacha Zone; the hole was abandoned at 88.5 meters due to difficult down-hole conditions. DD11 returned 39 meters of gold, silver and base-metal mineralization including 12 m at 2.46 g/t AuEq, while DD07 hit 39 m and 12 m intervals. Three step-out holes (DD06, DD08, DD12) missed relevant mineralization. Sixteen holes totaling 4,100 meters have been completed in 2026; silver and base-metal over-limit re-assays are pending.
Drilling has begun at the Torrance Project in Ontario, Canada, with a fully-funded, up to 2,000-metre diamond drill program testing geophysical targets, alongside regional basal till sampling, outcrop mapping and sampling, and geochemical soil sampling. Data compilation, interpretation and permitting since the project's acquisition from Kenorland Minerals Ltd. earlier in 2026 identified eight priority target areas, focused on a ring-shaped magnetic feature covering roughly 10 square kilometres. Torrance lies about 70 kilometres south of Neotech's Hecla-Kilmer project.
Drill hole SC-26-26 at the MEPS Zone of the Soo Copper Project near Batchewana Bay, Ontario returned 397.19m grading 0.37% CuEq from bedrock to the end of hole, including 200m at 0.53% CuEq, 101.9m at 0.81% CuEq and 13.25m at 1.82% CuEq, collared about 300m west of the MEPS discovery. SC-26-25 returned 128m at 0.31% CuEq, including 16m at 0.98% CuEq. Drilling has delineated a 700m continuous MEPS Copper Zone within a 1,300m by 600m mineralized footprint; assays from SC-26-27 are pending.
Hole GW26-33 at the Goodwin copper-nickel-cobalt project in New Brunswick's Bathurst Mining Camp returned 1.60% copper equivalent over 14.45 meters from 33.15 meters, including 3.48% CuEq over 1.9 meters (33.15–35.05 m) and 2.61% CuEq over 4.9 meters (42.7–47.6 m). Trenching has begun at the Moose Lake gold-antimony project, uncovering the Skull zone over 250 meters with 8 trenches and tracing the Moose Lake zone over 500 meters, with 14 samples pending. Drilling has resumed at Goodwin after a two-week maintenance break, with 2,754 meters drilled to date, and the Province of New Brunswick awarded a $60,000 grant.
Expansion drilling on the D Vein at the Columba silver project in Chihuahua, Mexico returned 274 gpt silver over 6.28 metres (3.33 m etw), including 509 gpt over 2.40 metres, in CDH-26-253, and 178 gpt silver, 0.1 gpt gold and 1.2% zinc over 17 metres (3.74 m etw) in CDH-26-243. Drilling extended the D Vein to roughly 1,320 metres of strike and 600 metres depth. More than 29,700 metres of the 60,000-metre program are complete, with results from 42 holes reported and 14 holes pending.
Drill results from the Surebet discovery on the 100%-owned Golddigger Property in B.C.'s Golden Triangle include GD-26-478 grading 13.81 g/t Au over 4.85 meters (including 21.45 g/t Au over 3.09 meters) in the Golden Gate Zone, GD-26-414 at 10.26 g/t AuEq over 5.00 meters, GD-26-426 at 5.27 g/t AuEq over 9.85 meters, GD-26-450 at 4.42 g/t AuEq over 6.96 meters and GD-26-439 at 4.97 g/t AuEq over 2.95 meters. 92 of 97 planned holes are complete, totalling 45,616 meters in 2026.
An induced polarization survey at the 100%-owned Birch Project in western Yukon identified chargeability anomalies about 2 kilometres south of known skarn mineralization, coinciding with a mapped intrusive body, magnetic high and elevated molybdenum-in-soil geochemistry. The survey, completed by Aurora Geosciences in June 2026, covered 12.7 line-kilometres across four north-south lines spaced about 300 metres apart plus an east-west tie line. Grab samples from the area previously returned up to 16 g/t gold, 1,825 g/t silver and 0.43% copper; one IP target was drilled in 2026, with assays pending.
A fixed-wing high-resolution radiometric and magnetic survey covering over 6,600 line km at 50m line spacing with 250m tie-lines has been completed over the entire 29,300-hectare Reindeer Gold Project in Saskatchewan's La Ronge Gold Belt. A 25m-spaced drone magnetic survey covering 8 km2 is underway at Contact Lake, where the summer drill program has passed 11,000m of a planned 20,000m. Trident issued 1,000,000 shares to Reinco Exploration to accelerate its earn-in to 100% of Reindeer.
A 13-hole, approximately 5,000-metre diamond drill program was completed at the end of August 2026 at the Estrades Project in the northern Abitibi region of western Québec, with assays pending. The drilling, part of Phase I under the Option and Joint Venture Term Sheet with DOWA METALS & MINING CO., LTD. announced in January 2026, targeted the Main, Central and East zones to provide material for metallurgical testwork at SGS Canada's Burnaby facility. A winter infill and expansion drill program is planned.
Final assays from the last five holes of the 5,009m, 28-hole Phase 1 program at the 100%-owned Pontio Gold Project in western Finland returned 60.85m at 0.80 g/t Au from 104.17m, including 20.98m at 1.56 g/t, in PONT096, and 47.16m at 0.82 g/t Au from 4.50m in PONT098. Other results include 84.72m at 0.52 g/t Au in PONT095 and 52.69m at 0.62 g/t Au in PONT094. Phase 2 drilling is ongoing, with a maiden resource estimate targeted for early 2027.
Drilling at the Cub East target on the Whitehorse Copper Project in Yukon returned 21.2m @ 3.07% Cu, 1.19 g/t Au and 24.65 g/t Ag from 183.0m in BCG-045, and 47.0m @ 1.01% Cu, 0.44 g/t Au and 7.07 g/t Ag from 200.0m in BCG-050, including 32.31m @ 1.40% Cu. Results cover 15 additional holes totalling 4,703 metres. Planned 2026 drilling has increased to more than 50,000m, with 23,000m completed and five rigs scheduled for Q4.
Drilling began September 14, 2026 at the Williams Property in British Columbia's Toodoggone District, part of a multi-phase 5,000 m program with an initial phase of 1-2,000 m targeting up-dip, down-dip and along-strike extensions at West GIC. The 2024 program returned 1.69 g/t Au over 104 m, including 6.22 g/t over 18.98 m, in WM24-01 and 2.16 g/t Au over 96.9 m in WM22-02 ext. The initial phase is expected to finish by mid-October, with drone LiDAR and magnetic surveys planned for GIC West and ROI.
Drilling at the Bench Target on the Tower Mountain Property, 40 km west of Thunder Bay, Ontario, returned 404.5 metres of continuous gold mineralization averaging 0.453 g/t Au in hole TM23-137X, an extension of 2023 hole TM23-137. TM23-137X included 294.0 metres averaging 0.418 g/t Au from collar to end of hole and ended in 27.0 metres averaging 0.830 g/t Au, including 15.0 metres averaging 1.128 g/t Au, extending mineralization 150 metres vertically below the current resource model and optimized pit limit.
Drill holes LBX26-106 and LBX26-107 from the 2026 Phase 1 program at the 100%-owned Ishkōday Gold and Polymetallic Project, 28 km northeast of Beardmore, Northwestern Ontario, returned 3.75 m grading 0.568 g/t Au, 12.40 g/t Ag, 0.46% Cu and 1.75% Zn, and 0.50 m grading 3.220 g/t Au, 9.70 g/t Ag, 0.30% Cu and 6.29% Zn; LBX26-107 returned 1.15 m of 1.374 g/t Au, 10.10 g/t Ag, 0.49% Cu and 2.01% Zn. Planned Phase 1 drilling was increased from 3,865 m to 5,605 m across 22 holes.
Assays from the first seven holes of a 16-hole, 2,395-metre diamond drill program at the Pipy South Property near Thompson, Manitoba returned 75.0 metres of 0.65 g/t gold and 11.55 g/t silver in PG26-06, 30 metres of 0.90 g/t gold in PG26-07 including 2.0 metres of 8.01 g/t gold, and 29.0 metres of 0.77 g/t gold and 12.83 g/t silver in PG26-05. The Horseshoe Gold zone extends at least 400 metres along strike, and NiCAN's Pipy South land position now totals 65.2 km2. Results from the remaining nine holes are pending.
Assays from the first seven holes of a 16-hole, 2,395-metre diamond drill program at the Pipy South Property near Thompson, Manitoba returned 0.65 g/t Au and 11.55 g/t Ag over 75.0 metres in PG26-06, 0.77 g/t Au and 12.83 g/t Ag over 29.0 metres in PG26-05, and 30 metres of 0.90 g/t Au in PG26-07, including 2.0 metres at 8.01 g/t Au. The Horseshoe Gold zone extends at least 400 m along strike, and the land position now totals 65.2 km2. Results from the remaining nine holes are pending.
A microgravity test survey has begun at the 417 high-grade silver target on the Phoenix Silver Project in Arizona, comprising up to 2,800 gravity stations on a 5-metre grid, with roughly 30 days of field acquisition followed by about 30 days of processing, 3D modelling and interpretation. Success could see the survey extended west to the Mexican Mine area, about 600 metres away, and to Nuggets North. Silver One also granted 4,775,000 stock options at $0.50 for five years and 2,850,000 deferred share units.
Drill hole APL26-001, the first hole ever drilled at the Apollo target on Geiger Energy's Aberdeen Project in Nunavut's Thelon Basin, intersected approximately 16 metres of elevated radioactivity in two zones from 206 to 210 m and 216 to 228 m, with additional elevated radioactivity starting at about 68 m and alteration to the end of the 384 m hole. Readings largely exceed 80 cps, with intervals above 200 cps and locally over 400 cps. Follow-up drilling at Apollo and Fox is planned.
Resource updates and study results
An updated Mineral Resource Estimate for the Gowganda Silver Tailings Project in Ontario, prepared by GeoVector Management Inc., reports an Indicated Mineral Resource of 1,845,000 tonnes grading 47.4 g/t silver, containing 2,814,000 ounces, at a 10 g/t silver cut-off, with an effective date of August 1, 2026. The cut-off assumes a US$65/oz silver price, C$17/t operating costs and 81.6% recovery from a 2007 Met-Solve report. A supporting NI 43-101 technical report will be filed on SEDAR+ within 45 days.
An updated mineral resource estimate for the 100%-owned Santa Ana primary silver project in Colombia, with an effective date of September 10, 2026, reports indicated resources of 29.9 Moz AgEq at 519 g/t AgEq (21.7 Moz silver, 0.104 Moz gold) and inferred resources of 27.9 Moz AgEq at 369 g/t AgEq (20.1 Moz silver, 0.098 Moz gold). Indicated contained AgEq rose 23.5% and inferred 106.3% versus the June 8, 2023 maiden estimate. It is based on 130,006 m in 646 holes.
An updated mineral resource estimate for the Monument Bay Gold Project in northeastern Manitoba, prepared by SRK Consulting (Canada) Inc. with an effective date of July 31, 2026, reports open-pit constrained Measured and Indicated resources of 74.39 million tonnes at 0.84 g/t Au containing 2.0 million ounces, plus Inferred resources of 24.46 million tonnes at 0.62 g/t Au containing 0.49 million ounces, at a 0.20 g/t Au cut-off and US$3,000 gold price. SRK proposed a Phase I program of about 20 holes totalling 11,150 metres. Tungsten was not included.
Technical reports filed this week
No NI 43-101 or PEA document filed this week. 53 reports are identified and processing; see the week ahead.
Week ahead new
Financings closing
Open rounds with a closing date on or after the week ending.
6 open rounds are past their closing date or have none; they are hidden here and need a status update.
Technical reports due
NI 43-101 s.4.2 gives issuers 45 days from announcing results to file. From the report-hunt pipeline.
Warrant radar new
3 tranches expiring within 90 days of Sep 18, out of 238 outstanding on record. Strike against the current price; proceeds assume full exercise.
| Company | Expires | Strike | Price | In / out of money | Max proceeds | From |
|---|---|---|---|---|---|---|
| Canstar ResourcesROX | Oct 30 | $0.10 | $0.055 | -45.0% | $1.9M | Private Placement of Oct 30 · Warrant radar ↗ |
| Solstice Gold CorporationSGC | Oct 31 | $0.10 | $0.095 | -5.0% | $611K | Private Placement of Oct 31 · Warrant radar ↗ |
| Orestone Mining Corp.ORS | Dec 16 | $0.16 | $0.075 | -53.1% | $4.5M | Private Placement of Dec 17 · Warrant radar ↗ |
Corporate
A 100% interest in the Jim Property in the Toodoggone Gold & Copper District of northern British Columbia has been acquired from an arm's length vendor for 100,000 common shares, a $5,000 cash payment and a 2% NSR royalty, of which 1% can be bought back for $1,000,000. The property hosts the historic JM showing, first documented in 1988, with malachite staining and associated chalcopyrite noted in fractures, shears and quartz-calcite veining, and is contiguous to Thesis Gold & Silver's land package.
Most researched new
Themes
The $200,000,000 GENM bought deal alone represented 52.5% of the week's $381,005,200 total financing volume, underscoring that large-scale PGM project financing was the single most capital-intensive activity in the junior space this week.