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Mark O’Byrne, managing director at Tara Coins, shares his outlook for gold and silver.

He sees much higher prices long term and expects gold to rise to at least US$10,000 per ounce; for silver, O’Byrne believes US$100 to US$150 per ounce is a ‘conservative’ target.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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   New Expansion Hole Intersects    279    Metres Averaging    0.49    % Cu   

 

   Nine Drill Rigs Now Active on Site   

 

Osisko Metals Incorporated (the ‘ Company or ‘ Osisko Metals ‘) ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce new drill results from the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec.

 

 Osisko Metals Chief Executive Officer Robert Wares commented: ‘Today’s new results continue to confirm the large-scale potential of mineralization at Gaspé Copper. Expansion hole 30-1090 in particular has intersected a significant mineralized width, underscoring the excellent prospects for increasing the size of the known deposit towards the south. The program is advancing well, with a ninth drill rig added recently to accelerate the definition and expansion program.’

 

Significant new analytical results are presented below and include 25 mineralized intercepts from eight drill holes (Table 1). The infill intercepts are all located inside the defined 2024 Mineral Resource Estimate model (‘MRE’, see November 14, 2024 news release ), and are focused on upgrading inferred mineral resources to measured or indicated categories, as applicable. The expansion intercepts are all located outside the 2024 MRE model and may lead to additional resources that will be classified appropriately within the next MRE update. Maps showing hole locations are available at www.osiskometals.com .

 

 

 

 

 

   Highlights:   

 

  • Drill hole 30-1090
    •   279.0   metres averaging 0.49% Cu (expansion)
    •  

    •   108.0 metres averaging 0.84% Cu (expansion)
    •  

  •  

  • Drill hole 30-1078
    •   256.5   metres averaging 0.25   % Cu (infill)
    •  

    •   381.0   metres averaging 0.22   % Cu (expansion)
    •  

  •  

  • Drill hole 30-1079
    •   319.5   metres averaging 0.28   % Cu (infill)
    •  

    •   180.0   metres averaging 0.37   % Cu (expansion)
    •  

  •  

  • Drill hole 30-1081
    •   301.8   metres averaging 0.41% Cu (infill)
    •  

    •   44.5   metres averaging 0.23   % Cu (expansion)
    •  

  •  

  • Drill hole 30-1084
    •   471.4   metres averaging 0.25   % Cu (infill)
    •  

    •   55.4   metres averaging 0.33   % Cu (expansion)
    •  

    •   89.7   metres averaging 0.29   % Cu (expansion)
    •  

  •  

  • Drill hole 30-1080
    •   520.5   metres averaging 0.23   % Cu (infill)
    •  

    •   195.0   metres averaging 0.26   % Cu (expansion)
    •  

  •  

  Table 1: Infill and Expansion Drilling  

 

                                                                                                                                                                                                                                                                                       

  DDH No.     From (m)     To (m)     Width (m)     Cu %     Ag g/t     Mo %     CuEq*     Type  
  30-1077     129.0     201.0     72.0     0.22     2.71        0.24     Infill  
  And     291.0     313.5     22.5     0.23     2.62     0.009     0.28     Infill  
  And     384.0     399.0     15.0     0.52     3.73        0.55     Infill  
  And     428.5     450.7     22.2     0.30     2.33     0.006     0.34     Infill  
  And     481.5     553.5     72.0     0.19     1.41     0.013     0.25     Expansion  
  And     603.8     777.0     173.2     0.27     1.49     0.035     0.42     Expansion  
  30-1078     6.0     262.5     256.5     0.25     1.79     0.008     0.29     Infill  
  And     307.5     688.5     381.0     0.22     1.69     0.022     0.32     Expansion  
  30-1079     22.5     342.0     319.5     0.28     2.14     0.008     0.32     Infill  
  And     456.0     636.0     180.0     0.37     2.54     0.007     0.41     Expansion  
   (Including)       480.7       481.8       1.1       8.66       35.2           8.84     Expansion  
  30-1080     15.0     535.5     520.5     0.23     1.02     0.013     0.29     Infill  
  And     774.0     969.0     195.0     0.26     1.28     0.030     0.39     Expansion  
  30-1081     42.0     71.0     29.0     0.16     1.79        0.18     Infill  
  And     94.0     395.8     301.8     0.41     3.36     0.006     0.45     Infill  
   (Including)       322.3       330.0       7.7       1.99       14.58           2.08     Infill  
  And     445.5     490.0     44.5     0.23     1.32        0.28     Expansion  
  30-1084     5.6     477.0     471.4     0.25     1.95     0.009     0.30     Infill  
  And     522.6     578.0     55.4     0.33     2.64     0.041     0.51     Expansion  
  And     616.8     706.5     89.7     0.29     1.93     0.012     0.35     Expansion  
  30-1086     14.1     166.5     152.4     0.18     0.73        0.19     Infill  
  And     219.0     250.5     31.5     0.22     1.13        0.23     Infill  
  And     433.1     466.5     33.4     0.25     1.12        0.26     Infill  
  And     888.5     949.5     61.0     0.23     0.98     0.009     0.27     Expansion  
  30-1090     15.0     294.0     279.0     0.49     3.35        0.51     Expansion  
   (Including)       66.0       72.0       6.0       3.34       14.42       0.019      3.49     Expansion  
   (Including)       164.0       172.7       8.7       2.24       9.78           2.29     Expansion  
  And     331.5     357.0     25.5     0.24     1.96        0.26     Expansion  
  And     417.0     525.0     108.0     0.84     7.79        0.89     Expansion  
   (Including)      433.4     445.3     11.9     3.00     30.46        3.20     Expansion  

 

 
Notes: Please see explanatory notes below on copper equivalent values and Quality Assurance / Quality Control.

 

  Table 2: Drill hole locations  

 

                                                               

  DDH No.     Azimuth (°)     Dip (°)     Length (m)     UTM E     UTM N     Elevation  
  30-1077     0     -90     879     316400     5425987.8     637.7  
  30-1078     0     -90     837     316300     5425903     608.4  
  30-1079     0     -90     780     316298     5425814     584.3  
  30-1080     0     -90     976     315500     5426425     580.0  
  30-1081     0     -90     490     316505     5425800     584.9  
  30-1084     0     -90     816     316397     5425889     606.9  
  30-1086     0     -90     978     315500     5426320     580.0  
  30-1090     0     -90     675     316477     5425532     565.7  

 

 
Drill hole 30-1090 intersected new mineralization located 105 metres south of the 2024 MRE model, returning 279.0 metres averaging 0.49% Cu and 3.35 g/t Ag   (including   8.7 metres averaging   2.24% Cu and 9.8 g/t Ag) ; a second intercept in this same hole (below the base of the 2024 MRE model) returned 108 metres averaging   0.84% Cu and 7.79 g/t Ag , extending mineralization to a vertical depth of 525 metres.

 

Drill hole 30-1078 (located in the south-central deposit) intersected 256.5 metres averaging 0.25% Cu and 1.79 g/t Ag , followed by a second intercept of 381.0 metres averaging 0.22% Cu and 1.69 g/t Ag , extending mineralization 280 metres below the base of the 2024 MRE model to a vertical depth of 688 metres.

 

Drill hole 30-1079 (located in the south-central deposit) intersected 319.5 metres averaging 0.28% Cu and 2.14 g/t Ag , followed by a second intercept of 180.0 metres averaging 0.37% Cu and 2.54 g/t Ag , extending mineralization 307 metres below the base of the 2024 MRE model to a vertical depth of 636 metres.

 

Drill hole 30-1081 (located in the south-central deposit) intersected 301.8 metres averaging 0.41% Cu and 3.36 g/t Ag (   including 7.7 metres averaging 1.99% Cu and 14.6 g/t Ag    at the level of the C Zone skarn ), followed by a second intercept of 44.5 metres averaging   0.23% Cu and 1.32 g/t Ag, extending mineralization 146 metres below the base of the 2024 MRE model to a vertical depth of 490 metres.

 

Drill hole 30-1084, also located in the south-central portion of the deposit, intersected 471.4 metres averaging 0.25% Cu and 1.95 g/t Ag, followed by a second intercept at depth of 55.4 metres averaging   0.33% Cu and 2.64 g/t Ag, and a third deeper intercept of 89.7 metres averaging   0.29% Cu and 1.93 g/t Ag, extending mineralization 306 metres below the base of the 2024 MRE model to a vertical depth of 706 metres.

 

Drill hole 30-1080 (located at the northwest end of the deposit) intersected 520.5 metres averaging 0.23% Cu and 1.02 g/t Ag , followed by a second intercept of 195.0 metres averaging   0.26% Cu and 1.28 g/t Ag , extending mineralization 418 metres below the base of the 2024 MRE model to a vertical depth of 969 metres.

 

Mineralization occurs as disseminations and veinlets of chalcopyrite and is mostly stratigraphically controlled in the area of Needle Mountain, Needle East, and Copper Brook. High molybdenum grades (up to 0.4% Mo) were locally obtained in both the C Zone and E Zone skarns. At least five vein/stockwork mineralizing events have been recognized at Copper Mountain, which overprint earlier skarn/porcellanite-hosted mineralization throughout the Gaspé Copper system.

 

The 2022 to 2024 Osisko Metals drill programs were focused on defining open-pit resources within the Copper Mountain stockwork mineralization ( see    May 6, 2024 MRE press release   ). Extending the resource model south of Copper Mountain into the poorly-drilled primary skarn/porcellanite portion of the system subsequently led to a significantly increased resource, mostly in the Inferred category ( see    November 14, 2024 MRE press release   ).

 

The current drill program is designed to convert of the November 2024 MRE to Measured and Indicated categories, as well as test the expansion of the system deeper into the stratigraphy and laterally to the south and southwest towards Needle East and Needle Mountain respectively.

 

All holes were drilled sub-vertically into the altered calcareous stratigraphy, which dips 20 to 25 degrees to the north. The L1 (C Zone) the L2 (E Zone) skarn/marble horizons were intersected in most holes, as well as intervening porcellanites (pale green to white potassic-altered hornfels) that host the bulk of the disseminated copper mineralization.

 

The November 2024 MRE was limited at depth to the base of the L1 skarn horizon (C Zone), and all mineralized intersections below this horizon represent potential depth extensions to the deposit, to be included in the next scheduled MRE update in Q1 2026.

 

   Explanatory note regarding copper-equivalent grades   

 

  Copper Equivalent grades are expressed for purposes of simplicity and are calculated taking into account: 1) metal grades; 2) estimated long-term prices of metals: US$4.00/lb copper, $20.00/lb molybdenum and US$24/oz silver; 3) estimated recoveries of 92%, 70% and 70% for Cu, Mo and Ag respectively; and 4) net smelter return value of metals as percentage of the price, estimated at 86.5%, 90.7% and 75.0% for Cu, Mo and Ag respectively.  

 

   Qualified Person   

 

  The scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Bernard-Olivier Martel, P. Geo. (OGQ 492), an independent consultant, is at ‘qualified person’ as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’).  

 

   Quality Assurance / Quality Control   

 

  Mineralized intervals reported herein are calculated using an average 0.12% copper lower cut-off over contiguous 20-metre intersections (shorter intervals as the case may be at the upper and lower limits of reported intervals). Intervals of 20 metres or less are reported unless indicating significantly higher grades . True widths are estimated at 90 – 92% of the reported core length intervals.

 

  Osisko Metals adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses, including insertion of blanks and standards in the sample stream. Drill core is drilled in HQ or NQ diameter and securely transported to its core processing facility on site, where it is logged, cut and sampled. Samples selected for assay are sealed and shipped to ALS Canada Ltd.’s preparation facility in Sudbury. Sample preparation details (code PREP-31DH) are available on the ALS Canada website. Pulps are analyzed at the   ALS   Canada   Ltd.   facility   in   North   Vancouver,   BC.   All   samples   are   analyzed   by   four   acid   digestion followed by both ICP-AES and ICP-MS for copper, molybdenum and silver.  

 

   About Osisko Metals   

 

  Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec    s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current    Indicated Mineral Resources of     824 Mt averaging 0.34% CuEq and Inferred Mineral Resources of 670 Mt averaging 0.38% CuEq    (in compliance with NI 43-101). For more information, see Osisko Metals’ November 14, 2024 news release entitled ‘Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper’. Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.  

 

  In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada    s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of    Indicated Mineral Resources of 49.5 Mt averaging 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt averaging 5.64% ZnEq    (in compliance with NI 43-101). For more information, see Osisko Metals    June 25, 2024 news release entitled ‘Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq’. The Pine Point project is located on the south shore of Great Slave Lake, Northwest Territories, close to infrastructure, with paved road access, an electrical substation and 100 kilometers of viable haul roads.  

 

  For further information on this news release, visit    www.osiskometals.com ,   or contact:  

 

Don Njegovan, President
Email: info@osiskometals.com  
Phone: (416) 500-4129

 

   Cautionary Statement on Forward-Looking Information   

 

  This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘interpreted’, ‘management’s view’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘potential’, ‘feasibility’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the tax treatment of the FT Units; the timing of incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures; the ability to advance Gaspé Copper to a construction decision (if at all); the ability to increase the Company’s trading liquidity and enhance its capital markets presence; the potential re-rating of the Company; the ability for the Company to unlock the full potential of its assets and achieve success; the ability for the Company to create value for its shareholders; the advancement of the Pine Point project; the anticipated resource expansion of the Gaspé Copper system and Gaspé Copper hosting the largest undeveloped copper resource in eastern North America.  

 

  Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals’ issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.  

 

  Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.  

 

Photos accompanying this announcement are available at:

 

  https://www.globenewswire.com/NewsRoom/AttachmentNg/9056bd4b-e68d-4dd1-a787-1f3b346d2cde  

 

  https://www.globenewswire.com/NewsRoom/AttachmentNg/3e9ed8b2-4c21-47aa-9923-f5e30da77ff4  

 

   

 

 

News Provided by GlobeNewswire via QuoteMedia

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US President Donald Trump said Tuesday (July 8) that he plans to impose a 50 percent tariff on all copper imports, a dramatic escalation of his administration’s use of targeted trade restrictions on national security grounds.

“I believe the tariff on copper, we’re going to make 50 percent,” Trump said during a White House cabinet meeting.

Though he did not provide a timeline, Commerce Secretary Howard Lutnick said in a subsequent CNBC interview that the tariff could take effect by late July or as early as August 1, with details to be posted on Trump’s Truth Social account.

The announcement triggered immediate market reaction. According to Reuters, copper futures for September delivery surged 13 percent on the day, closing at US$5.6855 per pound—its biggest single-day jump since 1989.

Traders cited fears of a supply crunch and price volatility as buyers scrambled to secure US-bound shipments ahead of the tariff implementation.

The decision marks a culmination of a months-long process that began in February, when Trump signed an executive order instructing the Department of Commerce to investigate whether copper imports posed a national security threat under Section 232 of the Trade Expansion Act of 1962.

The rarely used statute gives the president broad authority to impose tariffs or quotas if imports are deemed harmful to national defense or essential industries.

The copper tariff follows a similar pattern established during Trump’s first term, when the White House used Section 232 to levy tariffs on steel and aluminum.

Since returning to office, Trump has expanded his use of the provision to include automobiles, pharmaceuticals and critical minerals like rare earths.

Countries in the crosshairs

The brunt of the copper tariff is expected to fall on key US trade partners — most notably Chile, Canada and Mexico, which collectively accounted for the majority of America’s US$17 billion in copper imports in 2024, according to US Census Bureau data.

Chile alone shipped US$6 billion worth of copper to the US last year.

Officials from Chile, Canada and Peru, have pushed back against the measure, arguing their exports pose no threat to US national security and citing long-standing free trade agreements.

However, none have been granted exemptions as of Wednesday (July 9), and negotiations remain in limbo.

The looming copper tariff comes on the heels of broader trade actions taken by the Trump administration. On Monday (July 7), the White House imposed stiff tariffs on imports from 14 countries, including Japan, South Korea, Malaysia, South Africa and Kazakhstan.

These levies, effective August 1, targeted a wide range of sectors, from steel and aluminum to automotive parts and textiles.

Despite its relatively small trade deficit in copper — the US exported US$11.3 billion and imported US$9.6 billion worth of the metal in 2024 — the White House argues that the country remains dangerously reliant on foreign refining and processing capacity.

National security as justification

The legal foundation for the copper tariff lies in Section 232, which allows the president to act unilaterally on trade when national security is at stake. Experts say the provision gives Trump more durable legal ground than his recent attempts to use emergency powers to implement broad, country-specific tariffs — some of which are being challenged in federal court.

“Section 232 tariffs are central to President Trump’s tariff strategy,” said Mike Lowell, a trade attorney with ReedSmith, in an interview with CNBC. “They aren’t the target of the pending litigation, and they’re more likely to survive a legal challenge and continue into the next presidential administration.”

The administration’s increasing reliance on Section 232 tariffs reflects a shift toward industrial policy motivated by supply chain security, particularly for materials with dual-use applications in civilian and defense sectors.

Copper is a case in point. Used extensively in electrical wiring, motors, semiconductors and military-grade communications equipment, the red metal has been classified as critical to US infrastructure and defense capabilities.

Analysts point out that demand for the red metal is set to surge in the coming years due to the ongoing energy transition and growing adoption of electric vehicles.

In April, Trump issued a separate executive order launching a Section 232 investigation into US reliance on imported critical minerals and processed rare earths, calling them “essential for national security and economic resilience.” The order cited specific applications in jet engines, missile guidance, radar systems and advanced electronics.

As of Wednesday, no formal timeline had been posted on Trump’s Truth Social account, and details around carve-outs or exemptions remained unclear.

For now, however, Trump appears undeterred. The head of state has already threatened that pharmaceuticals may be next in line for potential action.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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Investorideas.com, a global investor news source covering mining and metals stocks, issues a snapshot of Apollo Silver Corp. (TSXV: APGO,OTC:APGOF) (OTCQB: APGOF) showing how it’s executing its vision of owning significant silver assets, attracting world class management with the recent appointment of President and CEO, Ross McElroy and building long term value for its shareholders.

Apollo Silver (Apgo) (Apgof); Right Assets, Right Management and Right Time

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6292/258362_fa89eeeef4e3c963_001full.jpg

For mining investors, Ross McElroy’s name has become legendary; building a successful uranium company and providing shareholders with an exit strategy that made headlines around the world.

McElroy, a professional geologist, brings over 38 years of mining industry expertise, spanning operational and corporate roles across major, mid-tier and junior mining and exploration companies.

Last year, as CEO of TSX-listed Fission Uranium, McElroy executed a deal to be acquired by Australian company Paladin Energy, in an all-stock transaction valued at $1.14 billion.

For Andy Bowering, former CEO and now Chairman at Apollo, bringing in Ross at this stage of the game was a familiar path, following his strategy at Prime Mining Corp and other companies. Bowering handed over the reins to Ross, knowing he could take Apollo from exploration to production based on a track record that few have achieved in the mining sector.

Bowering is a venture capitalist with 30 plus years of history of putting deals together; finding the right assets and then bringing in leadership at the right moment that can take the deal to the next level.

Talking of Ross, he said, ‘Our ability to attract someone with Ross’ expertise, energy and track record of value creation speaks volumes about the opportunity at Apollo. I believe he will have a transformative impact on the Company’s future and all stakeholders will benefit greatly.’

Bowering also told Investorideas in a recent Exploring Mining Podcast, ‘I’ve had a few great exits for shareholders but I have never hit the billion dollar mark and that’s why we wanted Ross under our umbrella.’

Apollo’s current portfolio consists of two silver exploration and resource development projects, the Calico Project, in San Bernardino County, California and the Cinco de Mayo Project in Chihuahua, Mexico. Apollo is currently fully funded to advance its projects with cash in the bank of $11 Million in the treasury as of June 2025.

Looking at the current silver projects, the California Calico Project is one of the US’s largest undeveloped primary silver deposits. The Company acquired it for $41 Million and put another $13 Million into it, betting big on the opportunity.

The Calico Project, comprising the adjacent Waterloo and Langtry properties, is located in the historic Calico Silver Mining District in the Mojave Desert of San Bernardino County, California.

Ross McElroy spoke of the Calico Project in a recent interview, saying, ‘It isn’t just land; it’s land that is meaningful.’

He went on to note, ‘It is a result of the Calico fault system that runs from the northwest to the southeast and is responsible for the emplacement of Langtry and Waterloo deposits that occur long the Calico fault trend. Importantly, the new claims are following the controlling primary mineralized feature, so they are located along strike and trend for the mineralization in the system.

‘We already know that there is are a number or of historic surface anomalies of silver and gold as well as a number of base metals including zinc and copper on the new claims. It is our job to go about executing the proper exploration process in order to generate new and significant targets for drilling.

‘We think we can make further discoveries of gold and silver that we see along this trend.’

Apollo announced an updated mineral resource estimate (‘MRE’) for the Calico Project (the ‘2023 MRE’), which now contains 110 million ounces (Moz) silver in 34.2 million tonnes (Mt) at an average grade of 100 grams per tonne (g/t) silver in Measured and Indicated category, and 0.72 Moz silver in 0.29 Mt at an average grade of 77 g/t silver in the Inferred category, all at Waterloo.

Apollo and its management saw an opportunity to expand on the project and on May 20th, the Company announced it had increased the Calico land package by over 285% from 1,194 ha to 3,409 ha of contiguous claims.

The Calico land package announcement was the first news from Apollo under the new management direction with Ross McElroy as President and CEO.

The newly acquired Mule claims consist of 415 lode mining claims, acquired from LAC Exploration LLC, a wholly-owned subsidiary of Lithium Americas Corp. (TSX: LAC) ( NYSE: LAC), the previous operators of the property.

Historic preliminary mapping and sampling of the Mule claims from the former operator have identified several high-grade silver anomalies.

Commenting on the opportunity, Ross McElroy, President and CEO of Apollo said in the press release, ‘The addition of the Mule claims substantially enhances the Calico Project. Calico already hosts 3 discrete drill delineated zones with resource estimates along a 4km long trend, along the Calico fault zone. The Mule claims increase the overall land area of the Calico project by more than 2.5x. The new claims are strategically located to the east along the very prolific Calico mineralized corridor and represent a great opportunity for further discoveries. Apollo is committed to continuing to unlock value in California for our shareholders.’

With the strong environmental concerns in California, its low 1.1:1 strip ratio ensures optimized operations and a minimalized footprint.

Looking at the growth opportunities at Calico, the Company says there is ‘potential to expand silver and gold resources and the intent to add barite to future resource update, making a potentially meaningful contribution to project economics.’

With Apollo making its silver assets the primary focus, barite may open other doors, with the US mandate prioritizing critical minerals for national security designating barite as a critical mineral. Barite serves multiple purposes, notably as a weighting agent in oil and gas drilling fluids to manage borehole pressure.

So what’s next for the Calico project? The Company plans continued resource growth and conversion, working to extend the 2024 drill permits at Waterloo Project, and de-risking and advancing the project towards production.

Apollo’s Cinco de Mayo Project, in Chihuahua, is located on the Northwest and Southeast trend that hosts the world’s largest Carbonate Replacement Deposits. Cinco de Mayo is made up of 29 concessions totaling over 25,000 ha located in the Municipio de Buenaventura, with a high-grade historical resource of approximately 154M AgEq oz.

In September 2024, Apollo entered into an exploration, earn-in and option agreement with MAG Silver Corp. (TSX: MAG) and its subsidiary, Minera Pozo Seco, S.A. de C.V. to acquire the Cinco de Mayo Project.

Apollo was able to acquire the option at a discount to its potential valuation, but with a challenge of establishing social license in Mexico. Once social license has been achieved, Apollo Silver will secure the necessary licensing and permits to access and conduct exploration activities on the Cinco de Mayo property.

Bowering’s history with Prime Mining Corp and its ‘boots on the ground’ presence in Mexico gives him in-depth experience on how to navigate the next steps. The Company will be engaging with local community members to rebuild trust and gain access, with a goal of building a mine that will generate employment and meet environmental standards.

An advantage operationally, the Cinco de Mayo’s primary mine is an underground mine, fitting into the current narrative banning future open pit mining, thus aligning with environment concerns.

The Cinco de Mayo project, with the Pegaso Zone representing a potential significant new discovery, is blue sky to Apollo if they achieve exploration approval.

Building shareholder value is important to Apollo’s management team. ‘Apollo’s strategy is to provide maximum upside to investors through focusing our exploration and resource definition programs in mining jurisdictions with historic silver production and limited modern exploration.’

This is not just a statement on their website; it is backed by their actions. Bowering can relate to investors and is a large shareholder in the company, having put $6 Million of his own capital into the company and not taking a salary during his term as President.

Ross McElroy echoed Andy’s sentiment about having skin in the game, saying recently he is also a shareholder and it’s important to have management that are shareholders, so all of the interests are aligned.

The winning combinations of Ross McElroy and Andy Bowering have track records of successful exit strategies for their shareholders. Apollo’s executive team has been involved in over $5B of M&A activity.

With a base of two significant silver projects, they are also focused on finding additional opportunities and building out assets for Apollo Silver.

With silver prices rising and a renewed focus from the US Government to prioritize critical and strategic mineral resources, Andrew Bowering says, ‘This is the right place, right time for Apollo.’

Visit www.apollosilver.com for further information.

Apollo Corporate Presentation:

https://apollosilver.com/wp-content/uploads/2025/06/APGO-Investor-Presentation-2025-06-13.pdf

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Cartier Resources Inc. (″ Cartier ″ or the ″ Company ″) (TSXV: ECR,OTC:ECRFF; FSE:6CA) is pleased to present its new predictive model for the Cadillac Project in the heart of the Val-d’Or mining camp, Quebec, created with Artificial Intelligence (″AI″) using VRIFY’s AI-Assisted Mineral Discovery Platform, DORA. With robust geoscientific information from across the 14,000-ha Cadillac Property, the Company was able to unlock value from this data by leveraging VRIFY’s proprietary algorithms and feature processing to generate a VRIFY Prospectivity Score (VPS) over the entire land package. The VPS is a probabilistic value, helping Cartier’s team prioritize and guide a portion of the Company’s upcoming 100,000-m drill program using an approach backed by data-driven insights.

 

For an interactive view of Cartier’s 3D model showcasing the AI results, please use the link below:
  https://vrify.com/decks/18798   

 

Philippe Cloutier, President & CEO, stated: ″ We are very impressed by the results generated from DORA, VRIFY’s AI-Assisted Mineral Discovery Platform. These results reveal potential extensions of known mineralization laterally and at depth, and more significantly, map out new subsurface zones of high prospectivity. We’re particularly excited by the discovery of multiple areas that showed high prospective scores where little to no drilling or modern exploration efforts exist. ″ Adding, ″ We will drill these areas and have planned contingency drilling to follow up on successes. ″

 

″ Cartier’s recent results are highly encouraging, particularly within the context of a mature, historically productive mining camp where multiple high-potential zones remain untested, ″ noted Steve de Jong, CEO and Co-Founder, VRIFY. ″ These outcomes highlight the strength of leveraging artificial intelligence as an exploration tool, demonstrating how AI-assisted analysis of geoscientific datasets can systematically identify targets that were previously overlooked by conventional methods. ″

 

  Data Compilation and Feature Processing  

 

The Company and VRIFY have collaborated to undertake extensive data aggregation and synthesis, leveraging sophisticated AI techniques to extract meaningful insights from a wide range of proprietary and publicly available datasets, including:

 

  • Over 158,000 drill hole assays from ~ 544,000 m of drilling contained in ~ 4,500 holes;
  •  

  • Surficial geochemistry including rocks, soils, glacial till, bark, and stream and lake sediments totalling over 8,500 individual assays;
  •  

  • Over 15,000 individual structural data points from regional and local bedrock mapping and down hole measurements;
  •  

  • Regional geophysics including magnetics, EM, and gravity providing continuous coverage over the entire Cadillac Property;
  •  

  • Several local high-resolution geophysical surveys including IP, ground and helicopter magnetics, and VLF data.
  •  

Using VRIFY’s proprietary Feature Processing, a total of 148 additional geoscientific products were created and leveraged to enhance the predictive modelling at Cadillac (Figure 1). These products have been instrumental in providing additional geoscientific insights and have proven to hold considerable predictive power for target generation.

 

 

 

  Figure 1. Data stack representing the raw regional and proprietary data sets at the Cadillac Property (left-hand side) and fully integrated data stack after VRIFY’s Feature Processing (right-hand side).  

 

  The Predictive Model and Target Generation  

 

Through the use of DORA, the Company was able to run multiple experiments incorporating different data sets, metal thresholds, and AI parameters resulting in a fine-tuned predictive model over the entire land package. Due to the robust nature of Cartier’s data set, DORA was also able to project VPS results at depth, revealing potential extensions of known mineralization and also mapping out new subsurface zones of high prospectivity. This resulted in the recognition of multiple areas that showed high VPS scores where there was previously little to no drilling or modern exploration efforts (Figures 2 and 3).

 

 
Figure 2. Cadillac AI model overview identifying target areas.  

 

For each of the targets generated, VRIFY provided Cartier with a Feature Importance Table explaining the relative weight of influence each geoscientific input had on the prospectivity model for that area. This has allowed the Company’s technical team to gain unbiased insights into the predictive power of its data sets and incorporate these insights into strategic decision making to inform their upcoming exploration campaign.

 

 
Figure 3. Feature Importance Table, Example Omicron Target.  

 

  The Largest Ever Drill Program on Cadillac Property  

 

Cartier is now fully funded for the largest-ever drill program on the Cadillac Property consisting of 100,000-m planned over the next 18 months. The drill program is set to begin late August 2025 and will include approximately 600 drill holes supported by two rigs focused on expanding known gold zones and testing new high-priority grassroots targets. Approximately 25% of the 100,000m is going to be dedicated to exploring targets generated by DORA, VRIFY’s AI-Assisted Mineral Discovery Platform, alongside other litho-structural targets.

 

  AI-Driven Exploration and Real-Time Insight  

 

DORA, VRIFY’s AI-Assisted Mineral Discovery Platform, uses a combination of proprietary algorithms and datasets, that include a wide variety of exploration features, to train predictive models. This platform leverages complex data relationships to predict mineral exploration targets, streamlining the process of identifying viable mineral systems that can then be further validated by geoscientists. The automation of target generation also allows trained models to be updated quickly with new data from ongoing exploration, as well as VRIFY’s growing database, creating an iterative workflow to improve accuracy and results.

 

For more information, visit VRIFY.com.

 

  Qualified Person  

 

The scientific and technical content of this press release has been prepared, reviewed and approved by Mr. Ronan Déroff, P.Geo., M.Sc., Vice President Exploration, who is a ″Qualified Person″ as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (″NI 43-101″).

 

  About Cartier Resources Inc.  

 

 Cartier Resources Inc. was founded in 2006 and is an advanced gold project exploration company based in Val-d’Or (Quebec, Canada). In 2024, Quebec ranked 5th among the best mining jurisdictions in the world (Fraser Institute). Cartier owns 100% of its flagship Cadillac asset and controls a significant land package of 25,000 ha. The Cadillac project is located approximately 40 km east of Val-d’Or and close to existing gold mills with available capacity.

 

The results of the recent Preliminary Economic Assessment  1 (PEA) demonstrate the economic viability of the project with an average annual gold production of 116,900 oz over a 9.7-year mine life. The current Mineral Resource Estimate 1 (MRE) totaling 7,128,000 tonnes at an average grade of 3.14 g/t Au for a total of 720,000 ounces of gold in the Indicated category and 18,475,000 tonnes at an average grade of 2.75 g/t Au for a total of 1,633,000 ounces of gold in the Inferred category .

 

1.   NI 43-101 Technical Report and Preliminary Economic Assessment for Chimo Mine and West Nordeau Gold Deposits, Chimo Mine and East Cadillac Properties, Quebec, Canada, Marc R. Beauvais, P.Eng., of InnovExplo Inc., Mr. Florent Baril of Bumigeme and Mr. Eric Sellars, P.Eng. of Responsible Mining Solutions, May, 29, 2023   .

 

For further information, contact:
Philippe Cloutier, P. Geo.
President and CEO
Telephone: 819-856-0512
  philippe.cloutier@ressourcescartier.com   
  www.ressourcescartier.com   

 

  Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.  

 

Photos accompanying this announcement are available at:
  https://www.globenewswire.com/NewsRoom/AttachmentNg/5ad669e7-8d18-4542-9a1a-159e1bc1a3f0    
   https://www.globenewswire.com/NewsRoom/AttachmentNg/18dcdfc3-f302-4cdf-9e26-c075350a6b86    
   https://www.globenewswire.com/NewsRoom/AttachmentNg/b8ebc69e-32cb-43c8-bfa5-456a4c6e045a   

 

   

 

 

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President Donald Trump on Wednesday announced he is tapping Transportation Secretary Sean Duffy to serve as interim administrator of NASA, a move the president said reflects the growing importance of space in national priorities.

‘I am pleased to announce that I am directing our GREAT Secretary of Transportation, Sean Duffy, to be Interim Administrator of NASA,’ Trump posted to Truth Social. 

‘He will be a fantastic leader of the ever more important Space Agency, even if only for a short period of time.’

The president praised Duffy’s performance at the Department of Transportation, calling his tenure ‘TREMENDOUS,’ and sharing his work on air traffic control modernization and infrastructure revival. ‘Rebuilding our roads and bridges, making them efficient, and beautiful, again,’ Trump wrote.

Duffy, a former congressman from Wisconsin and longtime Trump ally, accepted the role enthusiastically. ‘ Honored to accept this mission. Time to take over space. Let’s launch.’ he wrote on X.

Duffy replaces Janet Petro, who has served as acting NASA administrator since January. Trump withdrew Jared Isaacman’s nomination for the role in May.

Isaacman, a billionaire private astronaut and longtime associate of Elon Musk, was nominated by Trump in December 2024 but faced mounting scrutiny over ties to Musk and SpaceX, which some officials viewed as a conflict of interest.

According to The Associated Press, Trump said the decision to pull Isaacman’s name came after a ‘thorough review of prior associations’ and growing concern over ‘corporate entanglements.’

NASA has increasingly factored into the Trump administration’s national defense, innovation, and economic agenda. Trump has long emphasized the strategic importance of space, launching the Space Force during his first term.

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President Donald Trump told donors in 2024 he had cautioned Russian President Vladimir Putin that bombs would drop on Moscow if the Russian leader invaded Ukraine, a new book claims. 

The book, ‘2024: How Trump Retook the White House and the Democrats Lost America,’ was published on Tuesday and chronicles how Trump secured his victory in the November 2024 election, and how former President Joe Biden’s team dismissed concerns about his age in the campaign cycle. 

According to the book, Trump told donors that he’d issued a harsh warning to Putin about any potential invasion. Additionally, he said he’d issued a similar warning to Chinese President Xi Jinping, should the Chinese leader invade Taiwan, the book said. 

‘I was with Putin and I told him, ‘Vladimir, if you do it, we’re going to bomb the s— out of Moscow,’’ Trump revealed, according to an audio recording, also shared with CNN. ‘‘If you go into Taiwan, I’m going to bomb the s— out of Beijing.’ He thought I was crazy… He didn’t believe me either, except 10 percent. And 10 percent is all you need.’ 

In response, the White House said that Russia only invaded Ukraine in February 2022 — after Trump’s first term in office. 

‘As President Trump has said time and again, Russia never dared invade Ukraine when he was in office. It happened only when Biden was in office,’ White House spokesperson Anna Kelly said in a Wednesday statement. ‘Thanks to this President’s leadership, America is once again the leader of the free world, and peace through strength is restored. President Trump won on an America First agenda, and he is working hard to implement the mandate the American people gave him.’

The White House did not immediately respond to a request for comment from Fox News Digital confirming the authenticity of the audio. 

The book ‘2024’ is one of several that have been released in 2025 detailing how Trump secured victory in the 2024 election and how Biden’s mental acuity declined. It is authored by Josh Dawsey of the Wall Street Journal, Tyler Pager of the New York Times and Isaac Arnsdorf of the Washington Post. 

The authors did not immediately respond to a request for comment from Fox News Digital. 

Trump has recently voiced frustration with Putin as he’s sought to bring an end to the war between Russia and Ukraine. Tuesday, Trump said during a Cabinet meeting he was fed up with Putin and said he was eyeing potentially imposing new sanctions on Russia. 

‘We get a lot of bulls— thrown at us by Putin, if you want to know the truth. He’s very nice all the time, but it turns out to be meaningless,’ Trump said Tuesday. 

Fox News’ Sarah Tobianski contributed to this report. 

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Let’s talk about language. Because in politics, language isn’t just what you say — it’s what people hear. And if there’s one thing I’ve learned from decades of helping brands and campaigns get their words right, it’s this: the wrong message can kill even the best idea. Tesla CEO Elon Musk’s America Party is a case study in how not to build trust through language.  

I’ve seen this movie before. I started my career on Ross Perot’s campaign, where we learned firsthand how the right words can electrify a movement — and how quickly the wrong ones can turn hope into skepticism. Perot’s success was based on his ability to connect with voters using language that was clear, relatable and believable. He spent a lot of time talking about a broken system, but he did so in a way that made people believe change was possible.  

Musk, on the other hand, is using the language of disruption without understanding the language of trust. And that’s why his America Party is likely to be just another blip in the long history of failed third-party efforts.  

The language of disruption vs. the language of trust  

Let’s break down Musk’s messaging. He says it’s ‘time for a new political party that actually cares about the people.’ He talks about ‘reducing government spending,’ dismantling regulatory bloat, and embracing AI-driven modernization. These are buzzwords, not beliefs. They’re designed to provoke, not persuade.  

Here’s the problem: Americans are already drowning in distrust. They don’t believe politicians. They don’t believe in institutions. And they certainly don’t believe that this billionaire with a Twitter habit is suddenly going to care about the people. Musk’s words are meant to sound populist, but they just sound AI-generated.  

Slogans can help build trust but trust cannot be built on slogans alone. It’s built on language that resonates, connects to people’s real concerns and is grounded in actions that create credibility. Perot was also a billionaire, but he understood how to speak the language of the average person and make it feel real.    

Musk, by contrast, is speaking at people, not to them.  

The pitfalls of start-up populism  

Musk’s messaging is heavy on tech jargon and light on empathy. AI-driven modernization might excite Silicon Valley, but it’s a scary prospect for many voters increasingly worried about their job, their healthcare or their kids’ future.    

Start-up language is sexy … if you’re a venture capitalist. But Musk doesn’t understand that most Americans don’t speak the language of technology.    

Perot was also a tech entrepreneur, but he left talk of mainframes out of his campaign. His version of reducing regulatory bloat was much simpler: ‘if you see a snake, just kill it — don’t appoint a committee on snakes.’  

I care for you. You’re fired  

We once had a client who wanted to test a campaign designed to show how much they cared about their customers. The slogan: ‘We care.’ As we expected, it bombed in testing. The company’s actions did not support the message. The same is true for Musk.  Musk says he wants a party that ‘actually cares about the people.’ But the language he uses doesn’t show care — it shows calculation. It’s the language of someone who wants to be seen as a disruptor, not someone who wants to build trust.  

Words like ‘disruption,’ ‘modernization,’ and ‘efficiency’ are the language of business (and often of layoffs), not the language of belonging. They don’t answer the fundamental question every voter is asking: ‘Do you understand me? Do you care about what I care about?’ If you can’t answer that in your messaging, you’ve already lost.  

The bottom line: Words matter more than ever  

It’s unclear if Musk is really serious about building something new or just tearing down something Trump. But if he wants to build a movement, he needs to do more than talk about what’s wrong.  That’s the easy part.   

Perot also said the system was broken. But he made the problem understandable and he made a solution seem achievable. He made the deficit real. He made government waste personal. He made it feel like we could all roll up our sleeves and fix it. Ultimately, he had his own issues, but at the peak of his campaign, 39% of the population said they planned to vote for him.

So much has changed since 1992, but building a third party in America remains one of the hardest jobs in politics. The only way to even start to make it work is to find language that creates hope, engenders optimism and illuminates a path to overcoming challenges that a significant plurality of Americans care about.    

Ironically, in the same poll that showed Perot leading the race, 65% of the public said they would be less likely to vote for a candidate who ‘made a fortune doing business with the federal government.’ So maybe less has changed than we think.   

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Senate Republicans are gearing up to claw back billions of dollars in foreign aid and public broadcasting funding, but dissent is brewing among some who could eat into President Donald Trump’s cut request.

A cohort of Senate Republicans are publicly and privately growing squeamish over the White House’s $9.4 billion rescissions package, which would slash $8.3 billion from the U.S. Agency for International Development (USAID) and over $1 billion from the Corporation for Public Broadcasting (CPB), the government-backed funding arm for NPR and PBS.

The cuts stem from Trump’s Department of Government Efficiency (DOGE), which was lauded by most Republicans for its mission to root out waste, fraud and abuse in the federal government.

Still, concerns and calls for changes are being made, in particular to proposed slashes to the President’s Emergency Plan for AIDS Relief (PEPFAR) and the public broadcasting fund.

Publicly, Sens. Susan Collins, R-Maine, Mike Rounds, R-S.D., and Lisa Murkowski, R-Alaska, have all aired their concerns about the House-passed bill and are eyeing changes that could see the cuts reduced.

‘I don’t like it as it is currently drafted,’ Murkowski said. ‘I’m a strong supporter of the Corporation for Public Broadcasting, and our health programs are important.’

Collins has raised issues with slashes to PEPFAR, an issue brought forth during a hearing with White House officials last month, while Rounds is worried about funding being slashed to rural radio stations, particularly for Native American populations in his state and others ‘and their ability to get good information during times of stress.’

Senate Republican leadership already has plans for an amendment process on the bill, which will likely culminate in another marathon vote-a-rama amendment session — roughly two weeks after the grueling amendment process for Trump’s ‘big, beautiful bill.’

Senate Majority Leader John Thune, R-S.D., said that he intended to put the package on the Senate floor next week, likely ahead of the Friday deadline for lawmakers to advance the clawbacks.

If the bill is amended, it would have to be sent back to the House before heading to Trump’s desk.

Sen. Markwayne Mullin, R-Okla., told Fox News Digital that he expected the vote-a-rama to begin Wednesday, and said the hope was that leadership would be able to address as many concerns among Republicans as possible before bringing the bill to the floor.

‘Whatever it takes, we’re having those conversations,’ he said. ‘The point is, once we get to the vote-a-rama, we want to have as much issues resolved so we know where we’re at on the floor without any surprises. And I think we can do that, maybe not, but I think we can. I think we got a good picture of where we’re at right now.’

Other lawmakers see the package in its current form as a no-brainer to pass.

Sen. John Kennedy, R-La., said that if amendments were offered to keep spending that he agreed with, he could find himself supporting tweaks to the package. But he challenged his colleagues to reject a spending cut package that ultimately amounted to less than half a percent of the nation’s entire budget.

‘This is gut check time for our Republican colleagues,’ he said. ‘They either believe in reducing spending or they don’t. They either believe in spending porn or they don’t, and I’ve listened to my colleagues, especially in the last 100 plus days, talk about how great DOGE was. Well, now is the chance to show it.’ 

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President Donald Trump and former President Barack Obama chatted about golf during a viral moment of bipartisanship during former President Jimmy Carter’s funeral in January, just days before Trump’s return to the Oval Office, a new book detailing the unprecedented 2024 election cycle reported. 

Trump and Obama were seen smiling and quietly chatting with one another in the pews of the Washington National Cathedral on Jan. 9, 2025, in a moment that spread like wildfire on social media as Americans sounded off with speculation over what the pair of presidents who had long traded political barbs were talking about. 

‘2024: How Trump Retook the White House and the Democrats Lost America,’ which was released Tuesday, said that Trump arrived in Washington for Carter’s funeral as a ‘conqueror’ following the November 2024 election and sat next to Obama for the funeral service. 

‘He’d attended Jimmy Carter’s funeral, walking into Washington not as a scourge but as a conqueror,’ the book reported of Trump. ‘He could ignore the speech on character by the outgoing president, and the cold shoulder from the vice president he’d defeated.’

‘Instead he sat next to Barack Obama and invited him to play golf, enticing him with descriptions of Trump’s courses around the world,’ the book continued of the pair’s conversation. ‘He was no longer an anomaly. He was being treated like an American president. He wanted to be remembered as a great one.’

Trump and Obama were seated near other high-profile former U.S. leaders, including former President George W. Bush, former Vice President Mike Pence, former President Bill Clinton, former first lady and Secretary of State Hillary Clinton, as well as then-President Joe Biden and then-Vice President Kamala Harris.

Social media commenters at the time remarked that footage and video clips of the pair were unexpected, and others joked that Obama may have voted for Trump despite years of the pair trading political barbs. 

‘Trump and Obama sitting next to each other was not on the 2025 bingo card,’ one social media user posted to X in January. 

‘Did Obama vote for Trump too?!’ Clay Travis, founder of sports and politics commentary platform OutKick, joked at the time. 

‘We need lip readers to see what Trump said to make Obama laugh,’ another person posted to X in January. 

Trump was asked about the viral moment ahead of his inauguration, remarking that he ‘didn’t realize how friendly it looked.’

‘I said, ‘Boy, they look like two people that like each other.’ And we probably do,’ Trump added at the time. ‘We have a little different philosophies, right? But we probably do. I don’t know. We just got along. But I got along with just about everybody.’

Fox News Digital’s Kristine Parks contributed to this report. 

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