The First Assay
Wednesday Drill Digest
TSX · TSX-V · CSE · NYSE-A · Nasdaq · August 19, 2026
4 companies
29 qualifying holes
2 jurisdictions
Four companies cleared the screen and every one of them is gold — no copper, silver or uranium release made it through today, which is unusual for a mid-week sheet. The day splits cleanly into two bets: Auro Metals and Onyx Gold drilling long, low-grade envelopes measured in hundreds of metres, against Independence Gold and Athena Gold cutting narrow, very high-grade vein material at market caps under C$32M. Independence's 31 m at 9.07 g/t Au and Athena's grassroots Red Lake discovery both return more than eight times their market capitalisation in grade-thickness — comfortably the most capital-efficient holes on the sheet.
⚑ Hole of the Day
◉ Shallow · From 88.5m
Extension · Step-out
Ecuador · Moderate Risk ~
Porphyry-Au
Auro Metals AURO TSX-V · C$158M~
Santa Barbara South, Ecuador
DSB-61: 496.5m of 0.76 g/t Au + 0.12% Cu* from 88.5m
incl. 212.5m of 1.12 g/t Au + 0.14% Cu from 117.0m
GT
377.3 g/t·m
Exceptional
AuEq·m
392.2
AuEq from PR
Half a kilometre of continuous gold-copper mineralisation from 88.5 m — and the grade inside it is what matters. The 212.5 m core at 1.12 g/t Au is the highest-grade interval Auro has reported at Santa Barbara to date, roughly double the inferred resource grade, and it sits inside a 496.5 m envelope averaging 0.76 g/t. That combination of width and grade at shallow depth is squarely open-pit geometry in a porphyry setting, and DSB-61 was a 70 m western step-out from a historical hole, so the system is growing sideways rather than infilling. At 2.38× GT/MCap this is not the most capital-efficient hole on the sheet — Independence and Athena are three times better on that measure — but at 377 g/t·m it is by a wide margin the largest single gold accumulation, and absolute discovery scale is what the deterministic rule selects on. Two caveats: true width is explicitly unknown, so these are core lengths, and Ecuador carries moderate jurisdiction risk with a permitting history that has stalled better deposits than this one. Eight holes remain pending with four rigs turning; the next batch tells you whether the 1.12 g/t core is a coherent shoot or a lucky pierce.
* Drilled widths — true width not determined pending geological modelling.
GT/MCap Spotlight — Top 5
All five are gold on a common price basis today, so these ratios are directly comparable.
IGO 3TS-26-34 Au ◉ ✓
8.89×
ATHA LL-26-006A Au ◉
8.31×
IGO 3TS-26-27 Au ◉ ✓
5.11×
AURO DSB-61 Au ◉ ~ ★ HOTD
2.38×
◉ From depth ≤200m (shallow) · ⚠ High jurisdiction risk · ~ Moderate jurisdiction risk · ✓ True width stated · ★ HOTD
Today's Qualifying Intercepts — Top 10 of 29
| Rating | Company | Metal | Hole |
m | Grade | GT |
AuEq·m | GT/MCap |
| Exceptional ★ |
Auro MetalsAURO |
AuPorphyry-Au |
DSB-61* ~ |
496.5 ◉ |
0.76 g/t |
377.3 |
392.2 |
2.38 |
|
| Exceptional |
Independence GoldIGO |
AuEpithermal-LS |
3TS-26-34 ✓ |
31.0 ◉ |
9.07 g/t |
281.5 |
304.1 |
8.89 |
|
| Exceptional |
Auro MetalsAURO |
AuPorphyry-Au |
DSB-67* ~ |
380.0 ◉ |
0.71 g/t |
269.8 |
277.4 |
1.70 |
|
| Exceptional |
Auro MetalsAURO |
AuPorphyry-Au |
DSB-61* ~ |
212.5 ◉ |
1.12 g/t |
238.0 |
244.4 |
1.50 |
|
| Great |
Independence GoldIGO |
AuEpithermal-LS |
3TS-26-34* |
9.8 ◉ |
18.24 g/t |
178.2 |
187.3 |
5.63 |
|
| Great |
Independence GoldIGO |
AuEpithermal-LS |
3TS-26-27 ✓ |
27.6 ◉ |
5.86 g/t |
161.9 |
176.7 |
5.11 |
|
| Great |
Athena GoldATHA |
AuOrogenic |
LL-26-006A* |
5.0 ◉ |
23.85 g/t |
119.3 |
119.3 |
8.31 |
|
| Great |
Onyx GoldONYX |
AuOrogenic |
MC26-340 ✓ |
67.0 |
1.70 g/t |
113.9 |
113.9 |
0.86 |
|
| Great |
Onyx GoldONYX |
AuOrogenic |
MC26-329 ✓ |
144.5 |
0.70 g/t |
101.2 |
101.2 |
0.76 |
|
| Great |
Onyx GoldONYX |
AuOrogenic |
MC26-340 ✓ |
24.5 |
4.10 g/t |
100.5 |
100.5 |
0.76 |
|
↗ View all 29 intercepts in Google Sheets
+19 not shown: AURO DSB-66 Great 0.92×, ONYX MC26-329 75m Great 0.62×, ONYX MC26-340 6m Great 0.60×, ONYX MC26-340 1m Great 0.55×, ATHA 1m Great 4.38×/3.77×, IGO 5.07m Great 2.59×, IGO 4.84m Great 2.54×, plus 10 Good-rated rows
Near-Miss
| Near-miss |
Onyx GoldONYX |
Au |
MC26-329 ✓ |
32.0 |
0.30 g/t |
9.6 |
9.6 |
0.07 |
|
| Near-miss |
Athena GoldATHA |
Au |
LL-26-008* |
4.5 |
1.37 g/t |
6.2 |
6.2 |
0.43 |
|
| Near-miss |
Auro MetalsAURO |
Au |
DSB-61* ~ |
10.7 |
0.59 g/t |
6.3 |
6.5 |
0.04 |
|
Athena's LL-26-008 is a near-miss on grade-thickness but geologically the most important hole in that release — it proves the Scooby Zone persists ~400 m vertically below the discovery intercept. Four further near-misses are in the archive.
✓ True width stated in PR · * Drilled width — TW not determined · ◉ From ≤200m (shallow)
⚠ High jurisdiction risk · ~ Moderate jurisdiction risk
GT thresholds — Au: Good >10, Great >50, Exceptional >200 g/t·m · Cu: Good >20, Great >40, Exceptional >150 %·m
AuEq: Au $3,200/oz · Ag $33/oz · Cu $13,700/t · GT/MCap uses C$ mkt cap at August 19, 2026
Auro's AuEq is the issuer's own recovery-adjusted formula (Au + Cu% × 0.259), not the newsletter basis — reported as published.
Not Screened
Twelve in-window drill releases were enumerated but not read this run — the scrape and screen completed, but the run exhausted its working budget before every article could be opened and its assay table verified. Rather than publish headline-derived numbers that a reader cannot audit, they are named here in full and will be picked up by the next run's dedupe sweep:
Aug 19 — Gladiator Metals (GLAD · TSX-V), 40.0m @ 1.98% Cu, 0.31 g/t Au, 13.29 g/t Ag at Cowley, Yukon · NexGold Mining (NEXG · TSX-V), 5.26 g/t Au over 7.0m, Goldboro, Nova Scotia · Kirkland Lake Discoveries (KLDC · TSX-V), 4.4m @ 20.29 g/t Au, Mirado · New Break Resources (NBRK · CSE), 5.28 g/t Au over 11.2m, Moray · Stakeholder Gold (SRC · TSX-V), Cu-Ni-Co and PGE, Loki · Mercado Minerals (MERC · CSE), Copalito programme summary · Juggernaut Exploration (JUGR · TSX-V), Big Mack — visual observations, assays pending.
Aug 18 (post-cutoff) — Hycroft Mining (HYMC · Nasdaq), 12.5m @ 375.41 g/t Ag, Vortex · Metalsource Mining (MSM · CSE), Silver Hill · Pinnacle Silver & Gold (PINN · TSX-V), El Potrero · Soma Gold (SOMA · TSX-V), Escondida vein · Errington Metals (EM · TSX-V), Balfour Zone.
Also excluded by framework: Stakeholder's PGE assays (no GT threshold defined) and SAGA Metals' Ti-V-Fe re-assays (no conversion, not new drilling).
THE FIRST ASSAY
thefirstassay.com
Au $3,200/oz · Ag $33/oz · Cu $13,700/t · APT $3,300/mtu
Not investment advice.
Archived:
Google Sheets
· Master archive merge deferred this run — needs manual reconciliation