The First Assay — November 12, 2026

⚑ Hole of the Day

◉ Shallow · From 0m Extension · Step-out Colombia · Moderate Risk ~ Porphyry-Au

CEDDH-021 is a scissor hole drilled back across the Ceibal porphyry and returned 538.1 m at 0.5 g/t Au (plus 1.0 g/t Ag and 0.07% Cu) starting at surface, with a 10 m core of 1.1 g/t from 112 m; companion hole CEDDH-020 gave 386 m at 0.6 g/t, also from surface. This is bulk-tonnage porphyry grade — it only works as a large open pit, so the continuity from surface and the confirmation from a second orientation matter more than the grade. At an approximate C$95M market cap that is 2.84× GT/MCap, and the hole ranks #26 of 1,106 gold intercepts by AuEq·m over the last 30 days; it follows a 268 m at 0.5 g/t hole (CEDDH-023) reported in October. Colombia carries moderate jurisdiction risk and open-pit permitting there is slow and contested — a bigger hurdle than geology at this stage. Watch for whether the 0.5 g/t envelope holds at depth below 540 m and how much of it clears a realistic pit cut-off. Drilled widths; true width unknown.

GT/MCap Spotlight — Top 5

Au and Cu metrics are on different price bases — not directly comparable across metals.

GR Silver tops the ratio at 88.75× on 36.3 m of 311 g/t Ag — a cross-metal figure inflated by silver's unit scale and not comparable to the gold and copper names. The best clean ratio is Metal Energy's 4.31× on 426 m of 0.17% CuEq at NIV, but that is a sub-0.2% CuEq envelope on a C$17M company in its first drill program; Tiger Gold (2.84×) and Vizsla Copper (2.34×, 366 m at 0.45% CuEq) are the more robust reads.

◉ From depth ≤200m (shallow)  ·  ⚠ High jurisdiction risk  ·  ~ Moderate jurisdiction risk  ·  ✓ True width stated  ·  ★ HOTD

Today's Qualifying Intercepts — Top 10 of 147

✓ 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  ·  Ag: Good >500, Great >2,000, Exceptional >10,000 g/t·m  ·  Cu (incl. reported CuEq): Good >20, Great >40, Exceptional >150 %·m  ·  Ni: Good >5, Great >10, Exceptional >40 %·m  ·  Sb: Good >5 %·m  ·  WO₃: Good >1, Great >5, Exceptional >20 %·m (through-cycle APT basis)
AuEq: Au $3,200/oz · Ag $33/oz · Cu $13,700/t · Ni $17,000/t · Sb $30,000/t · APT $3,300/mtu · GT/MCap uses C$ mkt cap (approximate) at November 12, 2026
First Atlantic screened on recoverable (Davis Tube) Ni, not total Ni. Deposit type shown under metal symbol.

Not Screened

Cascade Copper (CASC · CSE · C$5.5M) — Copper Plateau, Canada. Best interval: 19.86 m of 1.713% CuEq (incl. 10.13 m of 3.211% CuEq). Re-assay of historical 2006–08 core, not new drilling; hole ID and depths not disclosed.

Mosaic Minerals (MOC · CSE) — Golden Island, Canada. Best result: 0.5 m channel averaging 280.26 g/t Au. Channel sampling, not drilling — no GT threshold applies.

Teuton Resources (TUO · TSX-V · C$75M) — Treaty Creek, Canada. Best intercept: 9.50 m of 9.00 g/t Au (PS-26-36). Same holes as the operator's release covered in yesterday's issue; not repeated.

Assays pending / visual only: Storm Exploration (STRM, Gold Standard), Centenario Gold (CTG, Los Reyes), Amarc Resources (AHR, Joy district), San Lorenzo Gold (SLG, historical intervals only), Leading Edge Materials (LEM, graphite), Renforth (RFR, channel sampling), Bullfrog Gold (drilling started). Cosa Resources (COSA, Darby JV) reported a 950 cps radiometric peak — below the 10,000 cps watch bar.

Archived: Google Sheets · Raw CSV also saved to Drive