Shanghai-bonded copper stocks drop 42,000 mt on week

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 04 Sep , 2026

Vizsla Copper has reported initial assay results from its ongoing 12,250-metre diamond drilling programme at the Palmer copper-zinc VMS project in southeast Alaska, confirming a broad high-grade copper-zinc intersection within South Wall Zone 1. Drill hole CMR26-199 returned 49.2 metres grading 4.7% CuEq, comprising 3.05% copper, 4.85% zinc, 21.88 g/t silver and 0.33 g/t gold. The interval included 27.0 metres at 8.4% CuEq, including a higher-grade section of 13.1 metres at 10.3% CuEq, containing 9.03% copper, 1.83% zinc, 42.74 g/t silver and 0.78 g/t gold. A second hole, CMR26-201, confirmed high-grade mineralisation further downdip, returning 40.4 metres at 3.0% CuEq, including 25.6 metres at 3.7% CuEq and 12.2 metres at 4.9% CuEq. Vizsla said the two holes confirm continuity of the high-grade copper core at South Wall Zone 1 and extend the mineralised system downdip. Earlier drilling had identified the same 49.2-metre mineralised interval visually, with an estimated true thickness of approximately 39 metres, before assay results became available. Following encouraging early results, Vizsla expanded its 2026 Palmer drilling programme from 10,000 metres to approximately 12,250 metres. Current drilling is focused on the HG Prospect and Palmer Extension Target, while results from an additional 15 drill holes across the HG, AG, South Wall Zones 2–3 and Waterfall targets are expected between late September and early November, subject to laboratory turnaround times. The latest assays are significant because they convert earlier visual observations at Zone 1 into confirmed high-grade copper-zinc results and demonstrate continuity of the mineralised system downdip. However, Palmer remains at the exploration and resource-growth stage, meaning the results do not represent an immediate increase in copper supply. The near-term focus will be on whether the remaining 2026 drilling can further expand the high-grade core and support future growth of the project’s existing resource base.

Koonenberry Gold has defined a series of high-priority copper-gold and gold drill targets at its wholly owned Wilga Flats Project in the Lachlan Fold Belt of New South Wales, Australia. The targets occur along the 4.2-km Olaf’s Trend, approximately 20 km north of Evolution Mining’s Cowal gold operation. The company said preparations for drilling are underway, with a drill rig secured and a permit application submitted. The principal copper-gold target is supported by a 1.2 km by 500 m copper-in-soil anomaly, coincident with a gold anomaly measuring roughly 600 m by 100 m. Rock-chip sampling within the broader target returned copper grades of up to 1.37% and 1.27%. Koonenberry integrated soil geochemistry and rock-chip sampling with geological mapping, 3D magnetic modelling and a 15.6 line-km dipole-dipole induced-polarisation survey to identify priority drill positions along Olaf’s Trend. A separate epithermal and base-metal target is also being evaluated using historical drilling and re-assayed core. Historical drilling returned 11.33 m at 2.05% combined lead and zinc from 190.52 m, while Koonenberry’s re-assaying of historical material returned 32 m at 0.10 g/t gold from 65 m. The company has also re-logged historical core dating back to 1977 to refine its geological interpretation and drill planning. The latest update moves Wilga Flats into a more defined drill-preparation stage, with surface geochemistry and geophysical work identifying several copper-gold targets for testing. However, the project remains at an early exploration stage, and drilling will be required to determine whether the surface anomalies correspond to meaningful copper mineralisation at depth. The next key milestone will be commencement of the planned drilling programme and release of initial assay results.