FINWIRES · TerminalLIVE
FINWIRES

OceanaGold Drills High-Grade Gold from Haile Mine in US

By

OceanaGold (OGC.TO) continued to drill high-grade gold from the Haile gold mine in the U.S., the company said Tuesday.

Drill highlights include 15.5 meters at 30.64 grams per tonne (g/t) gold from the Horseshoe Underground area, 27.9 m at 8.60 g/t gold from the Ledbetter Underground area, and 14.5 m at 15.81 g/t gold from the Clydesdale area.

Recent drilling points at Horseshoe indicate reserve growth potential near existing infrastructure, while results from Ledbetter strengthened confidence in down-plunge resource conversion. A new significant high-grade intercept at Clydesdale confirms its potential as an emerging target area, OceanaGold said.

"Our ongoing exploration success at Haile continues to demonstrate our ability to add tremendous value through the drill bit," President and Chief Executive Officer Gerard Bond said.

OceanaGold plans to complete about 34,500 m of drilling at Haile for 2026 from both surface and underground.

Related Articles

Mining & Metals

Canuc Resources Buys Claims Covering 271 Hectares Within East Sudbury Project

Canuc Resources (CDA.V) acquired 13 additional mining claims within its East Sudbury Project (ESP) in the Sudbury, Ontario region, covering 271 hectares, it said Tuesday.The additional claims are situated within the broader ESP mineralized corridor east of the McLaren Lake Fault Zone (MLFZ) and are considered to be prospective for critical and precious metals mineralization within a system that can form IOCG and affiliated mineral deposits, it said."The claims are located just east of the area being covered by the seismic survey undertaken by NRCan and will also be covered by the concurrent gravity gradiometric survey being flown by Bell Geospace," said Canuc Chief Executive Chris Berlet. "The advanced geophysics which is scheduled to cover the area of these newly acquired claims is expected to provide critical information relating to IOCG and MIAC deposit targets along and beside the McLaren Lake Fault Zone within the company's East Sudbury Project."Newly acquired claims have been integrated into ongoing exploration initiatives including the upcoming exploration and geophysical programs, the company said.Shares of the company were last seen unchanged at $0.81 on the TSX Venture Exchange.

$CDA.V
Mining & Metals

Parex Resources Down 4% As Reports Big Drop In Q1 Net Income; But Unhedged For 2026, Completing Frontera E&P Buy

Parex Resources (PXT.TO) was at last look down 4% on the TSX after reporting Tuesday a big drop in net income in the first quarter, but the company said it is currently unhedged for 2026, "with full exposure to higher commodity prices in the process", and added it is "positioned to become Colombia's largest independent oil & gas producer" while it nears completing the acquisition of Frontera E&P.For the three months ended March 31, 2026, the company reported net income of US$4.6 million or $0.05 per basic share compared with net income of $80.6 million or $0.82 per share basic, a year earlier.Parex said the decrease is primarily attributed to unrealized losses on commodity risk management contracts, an increase in deferred tax expense, higher cash settled share-based compensation expense, and the recognition of one-time costs, partially offset by lower current income tax.Among other highlights, average production in the quarter was 44,735 barrels of oil equivalent per day (boe/d), compared with 43,658 boe/d in Q1 2025. The company flagged 2026 production guidance 82,000 to 91,000 boe/d, up 93% at the midpoint compared to Q1 2026 average production.Previously, the company had hedged brent crude oil prices for Q2 2026 on approximately 25% of its planned net production. In early Q2 2026, these hedging positions were unwound at a cost of $29 million. The company is currently unhedged for 2026, with full exposure to higher commodity prices.Parex said it is completing the final stages of the Frontera E&P transaction, which will add roughly 37,000 boe/d of "highly" accretive barrels with "compelling synergies". It is adding new producing assets in the Magdalena Basin, where Parex will gain 50% production participation on roughly 15,000 boe/d in second half 2026 following the commencement of initial activity in both the Casabe and Llanito blocks.Current guidance was given for second half 2026, after accounting for the Frontera transaction, and the addition of the new producing assets in the Magdalena Basin.The company added it completed the LLA-111 exploration program, with four of six wells delivering positive results and early-stage production now underway, and is continuing to progress Llanos Foothills exploration, where it is preparing to spud its Piedemonte exploration well in Fall 2026.It declared a Q2 2026 regular dividend of C$0.385 per share, or C$1.54 per share annualized."Over the first half of 2026, Parex executed a series of strategic transactions that have positioned us to be Colombia's largest independent E&P, while adding complementary assets that enhance scale, deepen the portfolio, and strengthen our platform profitability for long-term growth," said Imad Mohsen, President & Chief Executive Officer."This transformed version of Parex is positioned to deliver an unparalleled portfolio of development and exploration opportunities, generate substantial free cash flow, unlock new world-class reserves, and establish the company as one of the leading growth opportunities in the global oil and gas sector, creating meaningful value for all stakeholders."Shares of the company were at last look down 4%, after closing up 1.2% on Monday.Price: $27.03, Change: $-1.21, Percent Change: -4.28%

$FEC.TO$PXT.TO
Mining & Metals

Fortune Bay Provides Latest Assays from Golden Pond Target in Saskatchewan

Fortune Bay (FOR.V) reported Tuesday the latest assays from the Golden Pond target within the Goldfields gold project in Saskatchewan.Highlights from the 771-meter drilling program include 1.20 grams per tonne (g/t) gold over 23.2 meters, including 4.68 g/t gold over 3.2 m, with 12.20 g/t gold over 1.0 m.All holes intersected gold mineralization, confirming continuity of the targeted mineralized system, Fortune Bay said."The drilling validated our revised geological model, confirmed shallow gold mineralization beyond the historically defined area, and demonstrated that the system remains open for further testing," Chief Executive Officer Dale Verran said.

$FOR.V