Daily Mining Update highlights notable mining and natural-resource developments published over the last 24–48 hours, with a focus on exploration results, financing activity, and project/regulatory updates.
1) Formation Metals closes upsized C$22.4M financing; expands Quebec drill program
Formation Metals Inc. (CSE:FOMO) reported it closed an upsized non-brokered financing for gross proceeds of approximately $22.44 million and said it intends to expand its ongoing drill program at the N2 Gold Project in Quebec to 75,000 metres. (Morningstar / ACCESS Newswire)
2) Cassiar Gold closes ~C$5.5M flow-through financing for BC exploration
Cassiar Gold Corp. (TSXV: GLDC; OTCQX: CGLCF) announced the closing of a flow-through private placement for gross proceeds of about C$5.5 million, with proceeds intended to support exploration and drilling at its Cassiar Gold Project in northern British Columbia. (TMX Newsfile)
3) Galleon Gold reports initial 2026 drill results at West Cache (Timmins)
Galleon Gold Corp. (TSXV: GGO; OTCQX: GGOXF) released first results from its 2026 drill program at the West Cache Gold Project in Timmins, Ontario, highlighting intervals including 5.13 g/t Au over 9.97 m (including 8.81 g/t Au over 4.1 m) in hole WC-26-235. (TMX Newsfile)
4) Tudor Gold starts 2026 drilling at Treaty Creek (Golden Triangle)
Tudor Gold Corp. (TSXV: TUD) said its 2026 exploration program is underway at the Treaty Creek gold-copper-silver project in British Columbia’s Golden Triangle, with a minimum 10,000 metres planned across the CBS and Perfectstorm zones. (TMX Newsfile)
5) Collahuasi expansion faces permitting uncertainty after desalination authorization annulled
Chile’s Second Environmental Court annulled the environmental authorization for a desalination plant tied to the US$3.2 billion Collahuasi copper mine expansion, a decision that (per the report) requires Chile’s Environmental Assessment Service to reassess parts of the project. Owners Anglo American and Glencore said they do not currently expect immediate production impacts, subject to existing alternative water sources. (The Northern Miner)
6) Americas Gold & Silver agrees to exchange remaining silver-delivery obligation for shares
Americas Gold and Silver Corporation (TSX: USA; NYSE American: USAS) announced an agreement with Sprott Mining Inc. to terminate the remaining 592,000 ounces of silver obligation under its Silver Delivery Agreement, in exchange for 7,956,696 common shares (subject to TSX approval). (Stock Titan (Newsfile-hosted release))
Disclaimer: This article is for informational purposes only and is not financial advice.
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