Mining Stock Daily

Morning Briefing: Exploration Results Abound, Despite the Correction in Metals

Oct 22, 2025
This briefing dives into exciting exploration results from several companies. Onyx Gold showcases impressive drill results at the Argus North Zone. Hercules Metals reveals notable copper-molybdenum-silver intercepts at Leviathan. Cabral Gold's drilling hits high grades at Pau de Morena, while McEwen Mining uncovers wide gold intervals at Windfall. Scorpio Gold kicks off an ambitious Phase II drilling program at Manhattan, signaling a busy period ahead for the mining sector.
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INSIGHT

Sharp Corrections Are Normal

  • Gold and precious-metal equities can reverse sharply and quickly, illustrated by a >5% daily gold drop and a 9.5% GDX decline.
  • Trevor Hall frames such corrections as expected volatility and a healthy reset after rapid rises.
ADVICE

Expect Volatility After Big Rallies

  • Expect volatility after big runs and avoid assuming trends continue uninterrupted.
  • Treat sell-offs as a reminder that overbought conditions can revert to neutral quickly.
INSIGHT

Onyx Shows Predictable Plunge Zone

  • Onyx Gold's Argus North shows long, continuous higher-grade plunging mineralization with multiple significant intercepts.
  • The zone remains open along strike, down dip, and down plunge, refining targets for further drilling.
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