The First Assay Monday Drill Digest TSX · TSX-V · CSE · NYSE-A · Nasdaq · November 2, 2026 | 6 companies 50 qualifying holes 6 jurisdictions |
A six-company day split between a proper Alaska discovery and a Peruvian skarn copper step-out, with a lot of lower-grade bulk gold behind them. Tectonic's Black Creek hole is the standout at 91.4 m of 2.86 g/t Au, while C3 Metals' Khaleesi hole returned 64.9 m of 2.53% Cu with 0.87 g/t Au and sits at 2.0× GT/MCap. Fortuna's first Kabewest results in Senegal supply 35 of the 50 qualifying intercepts, but they are low-grade, wide, and carry a negligible GT/MCap against a roughly C$5B market cap. Coverage was assembled from a partial sweep of Monday's, weekend and Friday-afternoon newsflow, so the day's metal mix is not a complete picture.
⚑ Hole of the Day
◉ Shallow · From 22.86m Extension · Step-out USA · Stable RIRGS
Tectonic Metals TECT TSX-V · C$295M (approx.)
Flat Gold - Black Creek, Alaska
CMR26-159: 91.44m of 2.86 g/t Au* from 22.86m
incl. 41.15m of 5.61 g/t from 73.15m
GT 261.5 g/t·m Exceptional | AuEq·m 261.5 Au basis | GT/MCap 0.89× (Au) | Deposit RIRGS |
Tectonic's CMR26-159 cut 91.44 m of 2.86 g/t Au from 22.9 m depth, ending in high-grade mineralisation: 41.15 m of 5.61 g/t including 13.72 m of 12.94 g/t. That is a reduced intrusion-related gold system hosted in hornfelsed sediments and dykes, and starting this shallow it is open-pit-style tonnage. The hole is a 100 m step-out south of discovery hole CMR25-059 and is still open at depth, so it adds real size to the target rather than infilling it. At 0.89× GT/MCap on an approximate C$295M market cap it ranks #36 of 1,080 gold results over the past 30 days. Caveat: drilled widths only (true width not determined), and the market cap is based on a late-September price. Next: assays from further step-outs and a depth test of the hole's mineralised bottom.
* Drilled widths — true width not determined pending geological modelling.
GT/MCap Spotlight — Top 5
Au and Cu metrics are on different price bases — not directly comparable across metals. C3 Metals leads the sheet at 2.0× but is a Cu result; Tectonic is the best Au ratio at 0.89×.
WGLD GLDD26_004 Au ◉ ✓3.29×
CCCM KHZ5790-005 Cu2.02×
TECT CMR26-159 Au ◉ ★ HOTD0.89×
FRED HDDH062 Au ◉0.67×
AUMB UG16-26-102 Au ✓0.52×
◉ From depth ≤200m (shallow) · ✓ True width stated · ★ HOTD
Today's Qualifying Intercepts — Top 10 of 50
| Rating | Company | Metal | Hole | m | Grade | GT | AuEq·m | GT/MCap |
|---|---|---|---|---|---|---|---|---|
| Exceptional ★ | Tectonic MetalsTECT | AuRIRGS | CMR26-159* | 91.44 ◉ | 2.86 g/t Au | 261.5 | 261.5 | 0.89 |
| Great | Fortuna MiningFVI | AuOther | FBRC0008 ✓ ~ | 96 ◉ | 1.9 g/t Au | 182.4 | 182.4 | 0.04 |
| Great | Fortuna MiningFVI | AuOther | FBDD0008 ✓ ~ | 40 ◉ | 3.2 g/t Au | 128 | 128 | 0.03 |
| Great | 1911 GoldAUMB | AuOrogenic | UG16-26-102 ✓ | 7.2 | 14.86 g/t Au | 107 | 107 | 0.52 |
| Great | Fortuna MiningFVI | AuOther | FBRC0003 ✓ ~ | 34 ◉ | 3.1 g/t Au | 105.4 | 105.4 | 0.02 |
| Good | 1911 GoldAUMB | AuOrogenic | UG16-26-083 ✓ | 2.1 ◉ | 22.64 g/t Au | 47.5 | 47.5 | 0.23 |
| Good | Fredonia MiningFRED | AuEpithermal-L | HDDH062* ~ | 24.7 ◉ | 1.3 g/t Au | 32.1 | 39.5 | 0.67 |
| Good | Western Gold ExplorationWGLD | AuVein polymet | GLDD26_004 ✓ | 3.9 ◉ | 7.17 g/t Au | 28 | 36.4 | 3.29 |
| Good | 1911 GoldAUMB | AuOrogenic | UG16-26-099 ✓ | 1.7 ◉ | 13.84 g/t Au | 23.5 | 23.5 | 0.11 |
| Exceptional | C3 MetalsCCCM | CuSkarn | KHZ5790-005* | 64.9 | 2.53 % Cu | 164.2 | 298.2 | 2.02 (Cu) |
↗ View all 50 intercepts in Google Sheets +40 not shown (mostly Fortuna, 1911 Gold and Fredonia Good-rated intervals)
Near-Miss — top 6 of 31
| Near-miss | C3 MetalsCCCM | CuSkarn | KHZ5790-005* | 41.5 | 0.27 % Cu | 11.2 | 19.9 | 0.14 (Cu) |
| Near-miss | Fortuna MiningFVI | AuOther | FBDD0009 ✓ ~ | 10 ◉ | 1.0 g/t Au | 10 | 10 | 0.00 |
| Near-miss | Fortuna MiningFVI | AuOther | FBRC0001 ✓ ~ | 5 ◉ | 1.9 g/t Au | 9.5 | 9.5 | 0.00 |
| Near-miss | Tectonic MetalsTECT | AuRIRGS | CMR26-158* | 30.48 ◉ | 0.31 g/t Au | 9.4 | 9.4 | 0.03 |
| Near-miss | Fortuna MiningFVI | AuOther | FBRC0011 ✓ ~ | 23 ◉ | 0.4 g/t Au | 9.2 | 9.2 | 0.00 |
| Near-miss | Fortuna MiningFVI | AuOther | FBDD0009 ✓ ~ | 7 | 1.3 g/t Au | 9.1 | 9.1 | 0.00 |
✓ 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 · Cu: Good >20, Great >40, Exceptional >150 %·m
AuEq: Au $3,200/oz · Ag $33/oz · Cu $13,700/t · GT/MCap uses approximate C$ market caps at November 2, 2026 (USD converted at 1.4222)
~ 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 $13,700/t · GT/MCap uses approximate C$ market caps at November 2, 2026 (USD converted at 1.4222)
Not Screened
Coverage note — today's sweep of Friday-afternoon, weekend and Monday-morning releases was partial; additional results may exist that are not shown here and will be picked up in the next issue if they qualify.
Fortuna Mining (FVI · TSX/NYSE · approx. C$5.2B) — Bambadji, Senegal. Intervals marked as no-recovery in the release carry no grade and were not rated; holes FBDD0011–0031 are pending. Market cap approximate.
1911 Gold (AUMB · TSX-V) — True North, Canada. Release tabulates select intercepts only; narrow sub-intervals (e.g. 0.8 m of 50.3 g/t Au) are not itemised.
Western Gold Exploration (WGLD · TSX-V · C$8.5M approx.) — Caledonian, Scotland. Only the headline 3.9 m polymetallic interval clears the screen; three further holes are pending.
Fortuna Mining (FVI · TSX/NYSE · approx. C$5.2B) — Bambadji, Senegal. Intervals marked as no-recovery in the release carry no grade and were not rated; holes FBDD0011–0031 are pending. Market cap approximate.
1911 Gold (AUMB · TSX-V) — True North, Canada. Release tabulates select intercepts only; narrow sub-intervals (e.g. 0.8 m of 50.3 g/t Au) are not itemised.
Western Gold Exploration (WGLD · TSX-V · C$8.5M approx.) — Caledonian, Scotland. Only the headline 3.9 m polymetallic interval clears the screen; three further holes are pending.
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