The First Assay
Friday Drill Digest
TSX · TSX-V · CSE · NYSE-A · Nasdaq · September 25, 2026
3 companies
16 qualifying holes
3 jurisdictions
A quiet count but a high-quality Friday: JMN carried only three genuinely new drill releases once yesterday’s coverage is netted out, and all three were gold or gold-equivalent. Lundin Gold posted the highest-grade interval ever recorded at Fruta del Norte (1,035 g/t Au over 0.6 m) while extending the Bonza Sur / Quebrada Dorada epithermal trend to 8 km in Ecuador, and Torex Gold’s Q3 Morelos update carried nine Exceptional-or-Great AuEq intercepts across San Miguel, Media Luna and ELG in Mexico — but both majors’ grades are almost entirely diluted by multi-billion-dollar market caps. The story of the day by GT/MCap is a C$6.6M micro-cap, Ashley Gold, in Ontario. Both markets are open today.
⚑ Hole of the Day
◉ Shallow · From 24m
★ Discovery · New Zone
Canada · Stable
Porphyry-Au
Ashley Gold Corp ASHL CSE · C$6.6M
Tak Patents (Burnthut Project), Canada
TAK-26-16: 60.0m of 3.333 g/t Au* from 24.0m
incl. 0.65m of 229.0 g/t Au from 63.15m
GT
200.0 g/t·m
Great
AuEq·m
200.0
Au basis
GT/MCap
30.30×
(Au)
Deposit
Porphyry-Au
Ashley Gold’s Tak Patents step-out returned the best interval the company or property has produced to date: 60.0 m grading 3.333 g/t Au from just 24 m downhole — wide, shallow, open-pit-scale mineralisation in a quartz-feldspar porphyry stockwork, with a 0.65 m core at 229 g/t Au (grade capped at 40 g/t pending statistical review) showing the system still carries real bonanza structure inside the bulk envelope. At GT 200 on a C$6.6M market cap, that is a 30.3x GT/MCap — by a wide margin the cheapest way today’s newsflow priced this scale of gold, and it dwarfs Lundin Gold’s and Torex’s far larger absolute intercepts once market cap is weighed in (both sub-0.08x on multi-billion-dollar caps). Ranks #30 of 748 Au results by AuEq·m in the available local archive (Sept 4–24). This is Ashley’s first qualifying day since Sept 23, so no active streak. Eastern step-out drilling outside the historic 67Z zone — watch for the follow-up assays the company has flagged as still pending on adjacent holes.
* Drilled widths — true width not determined pending geological modelling.
GT/MCap Spotlight — Top 5
Au and AuEq metrics shown; ratios are on hugely different market-cap bases and not directly comparable across issuers.
ASHL TAK-26-16 Au ◉ ★ HOTD
30.30x
TXG SST-491 Au ◉ ✓
0.08x
TXG MLND-025 Au ◉ ✓
0.07x
TXG MLND-024 Au ◉ ✓
0.06x
TXG LS-517 Au
0.06x
◉ From depth ≤200m (shallow) · ~ Moderate jurisdiction risk · ✓ True width stated · ★ HOTD
Today's Qualifying Intercepts — Top 7 of 16
| Rating | Company | Metal | Hole | m | Grade | GT | AuEq·m | GT/MCap |
|---|---|---|---|---|---|---|---|---|
| Exceptional | Lundin GoldLUG | AuEpithermal-LS | BLP-2026-553* ~ | 3.0 ◉ | 204.26 g/t | 623.0 | 623.0 | 0.03x |
| Exceptional | Torex Gold ResourcesTXG | AuSkarn | SST-491 ✓ | 35.0 ◉ | 14.32 g/t | 501.2 | 501.2 | 0.08x |
| Exceptional | Torex Gold ResourcesTXG | AuSkarn | MLND-025 ✓ | 42.5 ◉ | 10.61 g/t | 450.9 | 450.9 | 0.07x |
| Exceptional | Torex Gold ResourcesTXG | AuSkarn | MLND-024 ✓ | 40.6 ◉ | 10.05 g/t | 408.0 | 408.0 | 0.06x |
| Great ★ | Ashley Gold CorpASHL | AuPorphyry-Au | TAK-26-16* | 60.0 ◉ | 3.333 g/t | 200.0 | 200.0 | 30.30x |
| Great | Lundin GoldLUG | AuEpithermal-LS | BLP-2026-483-D1* ~ | 4.2 | 28.05 g/t | 117.8 | 117.8 | 0.01x |
| Great | Lundin GoldLUG | AuEpithermal-LS | CHT-2026-495* ~ | 13.1 ◉ | 6.53 g/t | 85.2 | 85.2 | 0.00x |
↗ View all 16 intercepts in Google Sheets
+9 not shown: TXG LS-517 (Exceptional, 0.06x), TXG MLE26-025 (Exceptional, 0.05x), TXG MLUI-005 (Exceptional, 0.05x), TXG MLE26-035D (Exceptional, 0.03x), TXG MLUI-013 (Exceptional, 0.03x), TXG SST-484 (Great, 0.02x), LUG BLP-2026-483-D2 (Great, 0.00x), LUG BLP-2026-475-D5 (Great, 0.00x), LUG ALE-2026-529 (Great, 0.00x)
✓ True width stated in PR · * Drilled width — TW not determined · ◉ From ≤200m (shallow)
~ Moderate jurisdiction risk
GT thresholds — Au: Good >10, Great >50, Exceptional >200 g/t·m
AuEq: Au $3,200/oz · Ag $33/oz · Cu $13,700/t · GT/MCap uses C$ mkt cap at September 25, 2026
~ Moderate jurisdiction risk
GT thresholds — Au: Good >10, Great >50, Exceptional >200 g/t·m
AuEq: Au $3,200/oz · Ag $33/oz · Cu $13,700/t · GT/MCap uses C$ mkt cap at September 25, 2026
Grade × Width Scatter — AuEq g/t vs Interval (m)
Bubble size ∝ AuEq·m. Axes linear.
Not Screened / No Assay Data
Also on the wire today with no drill assay data — financings, AGMs, personnel, program starts and metallurgical (not drill) results: Tocvan (TOC, column-leach metallurgy), New Age Metals (NAM, surface prospecting/grab samples), District Metals (DMX, year-end results), Sirios Resources (SOI, program start), REV Exploration (REVX, program start), UraniumX (STMN, program planning), HM Exploration (HM, program update), Soma Gold (SOMA, personnel), White Gold (WGO, PEA filing), AngloGold Ashanti (AU, personnel / site visit), Core Silver (CC), Terra Clean Energy (TCEC), Standard Uranium (STND, AGM), Vinland Lithium (VLD), Orosur Mining (OMI), Rush Gold (RGN), Largo (LGO) — all financings/AGM notices.
Week in Review — Sept 21 to Sept 25
| Day | Rating | Company | Metal | Hole | GT | AuEq·m |
|---|---|---|---|---|---|---|
| Mon | Exceptional | DPM MetalsDPM | Au | EX_BRESPO_03 | 2624.5 | 2624.5 |
| Mon | Exceptional | DPM MetalsDPM | Au | EX_BRES_555_02A | 2364.8 | 2364.8 |
| Mon | Exceptional | DPM MetalsDPM | Au | EX_BRESPO_05 | 1075.8 | 1075.8 |
| Mon | Exceptional | Guardian Metal ResourcesGMTL | WO3 | TP26-046 | 31.3 | 1002.6 |
| Tue | Exceptional | West Red Lake Gold MinesWRLG | Au | MM26D-14-4929-025 | 933.0 | 933.0 |
| Mon | Exceptional | DPM MetalsDPM | Au | EX_BRESPO_03A | 763.6 | 763.6 |
| Thu | Exceptional | OceanaGoldOGC | Au | WKP146C | 709.6 | 715.7 |
| Mon | Exceptional | DPM MetalsDPM | Au | EX_BRESPO_06 | 707.4 | 707.4 |
| Tue | Exceptional | Cambria Gold MinesCAMB | Au | P26U-0095 | 515.3 | 623.4 |
| Fri | Exceptional | Lundin GoldLUG | Au | BLP-2026-553 | 623.0 | 623.0 |
THE FIRST ASSAY
thefirstassay.com
Au $3,200/oz · Ag $33/oz · Cu $13,700/t
Not investment advice.
Not investment advice.
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