Mining news on Aug. 5, 2026 is focused on fresh capital for gold and lithium projects, a tungsten drilling program in Nevada, expanded lithium-bearing pegmatite targets in Namibia, quarterly results from a major gold producer and a safety-related pause at a large Chilean copper mine. The roundup below is based on company announcements and reputable financial or mining-news reports published Aug. 4–5.
Arizona Gold & Silver secures C$12 million strategic investment
Arizona Gold & Silver (TSX-V: AZS; OTCQB: AZASF) said Evolution Mining Gold Operations, a wholly owned subsidiary of Evolution Mining, agreed to subscribe for 15,056,004 units at C$0.80 per unit in a non-brokered private placement for gross proceeds of approximately C$12 million, according to the company release carried by Mining Discovery. Each unit includes one common share and one-half of a warrant, with each full warrant exercisable at C$1.00 for three years from closing.
Evolution is expected to hold about 9.9% of Arizona Gold & Silver on a non-diluted basis after the investment closes. The company said at least 90% of the proceeds, approximately C$10.8 million, is earmarked for exploration at the Philadelphia Gold-Silver Project in Arizona, with up to 10% for general and administrative expenses.
Li-FT Power launches C$20 million bought-deal offering
Li-FT Power (TSXV: LIFT; ASX: LFT; OTCQX: LIFFF) announced a bought-deal public offering of 6.9 million common shares at C$2.90 per share for gross proceeds of approximately C$20.01 million, according to the company’s Aug. 4 release. The underwriters also received an option to buy up to 15% of the offered shares, subject to the terms in the release.
Li-FT said net proceeds are intended to fund estimated care-and-maintenance costs for the first year of its option period for the Renard mine site in Quebec, with the balance for working capital. Closing is expected on or about Aug. 12, subject to customary regulatory approvals and other conditions.
Great Western prepares to drill Nevada tungsten targets
Great Western Mining (AIM: GWMO; Euronext Growth: 8GW; OTCQB: GWMOF) said drilling at its Defender Tungsten Project in Mineral County, Nevada, is expected to start within two weeks after preparatory fieldwork and drill-pad construction were completed. The Aug. 4 release said Addison Mining Services has been engaged as independent Competent Person for a maiden JORC Mineral Resource Estimate.
Great Western expects assay results from the drilling program during September and October, alongside results from bulk-sample metallurgical work completed in the second quarter. The company said it remains funded for its 2026 exploration program and is targeting a maiden resource estimate in the fourth quarter.
Andrada extends Namibia lithium trend to nine kilometres
Andrada Mining (AIM: ATM; OTCQB: ATMTF) reported that surface sampling at its Lithium Ridge Project in Namibia extended the identified lithium-mineralised trend from six kilometres to nine kilometres. Shanghai Metals Market reported that multiple surface samples returned more than 3.5% Li₂O, while grab samples returned tin grades of up to 7.38% and tantalum levels of up to 3,192 parts per million.
The work forms part of the first stage of Andrada’s earn-in agreement with Sociedad Química y Minera de Chile (SQM), through SQM Australia. The company said additional mineralised pegmatites were identified outside the main trend and that the results complement earlier drilling that confirmed lithium mineralisation from surface to depth.
SSR Mining reports 101,959 gold-equivalent ounces in Q2
SSR Mining (Nasdaq/TSX: SSRM) reported second-quarter 2026 production of 101,959 gold-equivalent ounces from continuing operations, with consolidated cost of sales of $1,775 per payable ounce and all-in sustaining costs of $2,622 per payable ounce. The company release carried by Yahoo Finance said first-half production was 211,873 gold-equivalent ounces at AISC of $2,521 per ounce.
SSR Mining said its 2026 production guidance remains 450,000 to 535,000 gold-equivalent ounces and declared a quarterly cash dividend of $0.03 per common share, payable Sept. 11 to shareholders of record Aug. 14. The company’s investor-relations page lists the Aug. 4 results event and webcast.
Codelco pauses El Teniente expansion work over seismic risk
Chile’s state-owned Codelco temporarily paused development and construction work in the Andes Norte section of its El Teniente copper mine after technical analyses identified a new seismic risk at depth. Reuters reported through Engineering News that Codelco described the move as a safety measure and said recent studies pointed to seismic conditions different from those previously identified and monitored.
The decision adds a permitting, engineering and operating-risk consideration to the outlook for one of Chile’s largest copper operations. The duration of the pause and the timing of any restart will depend on further monitoring and technical work.
Closing note: Exploration results, financings, project schedules and operating plans can change as companies receive additional data, complete technical work, secure approvals or update their disclosures. Readers should review the original announcements and regulatory filings before making decisions.
This article is for informational purposes only and is not financial advice.
