Shanghai Zinc Spot Premiums to Fall Further in Near Term, SMM Reports

Emerita Resources expects to complete a prefeasibility study for its flagship Iberian Belt West (IBW) project in southern Spain in the third quarter of this year. IBW comprises the Infanta, El Cura and Romanera polymetallic deposits in the Iberian Pyrite Belt. The project hosts 18.9 million indicated tonnes grading 2.8% zinc and 1.42% lead, containing 547,000 tonnes of zinc and 269,000 tonnes of lead, alongside copper, gold and silver. Inferred resources total 6.8 million tonnes grading 3.25% zinc and 1.5% lead, containing 221,000 tonnes of zinc and 102,000 tonnes of lead, together with copper, gold and silver. Emerita’s Spanish portfolio also includes the Aznalcollar and Nuevo Tintillo projects; Aznalcollar is a past-producing open-pit mine that the company is seeking to redevelop following a long-running ownership dispute.

Metalsource Mining has started a new drilling phase at its Silver Hill Project in North Carolina, targeting strike and down-plunge extensions of polymetallic mineralisation intersected in Hole SH26-07. The hole previously returned 12.62m grading 3,786g/t silver equivalent, including 6.95m at 6,730g/t silver equivalent and 2.74m at 16,604g/t silver equivalent; the latter interval included 209.1g/t gold. The company said the results also showed notable silver, lead and zinc concentrations. New drill platforms west of the current drilling area will test the interpreted deep extension of the polymetallic system and mineralisation along strike and at depth. Drilling will also shift temporarily to the eastern area to test the up-dip extension of gold-rich mineralisation between SH26-07, SH26-05 and SH25-02. Metalsource is working toward a first mineral resource estimate planned for early 2027, while stressing that the current data are preliminary, insufficient to define a mineral resource, and subject to further drilling and pending analytical results.

Aya Gold & Silver has acquired a Moroccan exploration portfolio for Dh10 million (US$1.06 million), comprising cash and assumed debt. The portfolio covers three mining licences and 18 exploration permits across 259km², including the Zagora, Agadir-Melloul and Goulmim projects; certain Moroccan administrative processes related to the acquisition remain pending. Aya said its Moroccan land package has expanded from about 732km² to more than 991km² in 2026, an increase of 35.4%. The 158.6km² Zagora project comprises 11 exploration permits and is considered prospective for cobalt, gold, lead, nickel, silver and zinc. The 32km² Goulmim project is prospective for lead, silver, copper and gold. Aya plans an 18–24-month greenfield exploration programme involving stream-sediment geochemistry, hyperspectral studies, mapping and prospecting, with geophysics and drilling subject to the initial results. The agreement also includes exploration-success milestone payments and a 2% net smelter return royalty, which Aya may repurchase under specified conditions.