News about gold mining

Wescan Goldfields (TSXV: WGF) reports visible gold in a quartz vein exposed at surface at the North Vein Target in the Southeast Zone of its Munro Lake Project in northern Saskatchewan, and completion of a UAV magnetic survey. The main vein is exposed over a 25-metre strike length and is about 3 metres wide; assays are pending and channel sampling is planned. The vein was the target of 2013 drill hole EXML-002, which missed it by drilling down-dip without accounting for the vein's plunge, although it intersected a parallel vein grading 67.1 g/t gold over 1.00 metre. The 553.5 line-kilometre UAV magnetic survey, flown on 30-metre lines, shows a narrow magnetic high about 1 kilometre long along the mineralized trend and is being used to guide drilling.

Heliostar Metals (TSX: HSTR) reports additional drill results from its 100%-owned Ana Paula project in Guerrero, Mexico, covering infill drilling in the High Grade Panel and down-dip exploration at the Expansion Zone. In the High Grade Panel, an interval of 52.4 m grading 5.84 g/t gold from 46.9 m includes 12.6 m grading 17.8 g/t gold, confirming continuity of mineralization. In the Expansion Zone, AP-26-314A returned 3.4 m grading 10.64 g/t gold, and AP-26-412 returned 6.4 m grading 5.19 g/t gold and 6.7 m grading 3.07 g/t gold, with mineralization still open to the south, west and at depth. The company has completed a 122-hole, 35,121-metre conversion drilling program to support a Feasibility Study targeting an initial 10-year mine life averaging 100,000 ounces of annual production.

Cerrado Gold reported Q3 2026 production of 16,685 GEO at the Minera Don Nicolas (MDN) mine in Santa Cruz Province, Argentina, up 21% from 13,832 GEO in Q3 2025. Year-to-date output reached 44,942 GEO, up 23% from 36,432 GEO in the comparable 2025 period. Heap leach output held steady at 9,649 GEO, while CIL output rose to 7,036 GEO as higher-grade Calandrias material, generally above 2.5 g/t gold, was routed to the Martinetas mill. Laboratory tests on selected material showed gold recoveries of up to 95%, versus about 60% expected from heap leaching, and the company now expects full-year 2026 production at the upper end of its 50,000 to 60,000 GEO guidance while targeting a new PEA by late Q1 2027.

South Africa-based Gold Fields is taking its $38 billion takeover pursuit of Northern Star Resources directly to Australian institutional investors, hoping they will pressure the board into negotiations after it rejected the offer as “highly opportunistic”. If the deal succeeds, the combined group would be the world's second-biggest gold producer, controlling eight of Australia's 20 biggest gold mines and producing 4.1 million ounces a year. The initial offer was 0.3125 Gold Fields shares plus $7.25 in cash for each Northern Star share, valuing the company at $38.7 billion with a 22 per cent premium. Chairman Michael Chaney says the bid is now below Northern Star's share price, which is more than 10 per cent higher than the day before news of the approach leaked. Activist investor Elliott Investment Management, which holds a 6 per cent stake, is one of the top shareholders Gold Fields is trying to win over.