Northwire Canada EditionMonday, September 14, 2026
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GOLD 4351.90 −1.3% SILVER 63.76 −2.2% COPPER 6.40 −2.3% OIL 101.39 +1.3% PALLADIUM 1296.50 −2.1% QGR 0.200 +0.0% MSC 0.015 −25.0% GENM 0.705 −0.7% URC 3.89 +0.0% SHL 0.400 +4.6% AZS 0.750 −8.5% FL 0.415 +0.0% HMMC 8.29 −1.1% NAR 0.260 −5.5% GCN 0.030 −14.3% RIO 3.54 −1.4% EVI 0.430 +2.4% CTV 0.110 −4.3% ECOR 3.10 −4.0% TLG 2.20 +0.0% UCU 2.59 +2.8% GOLD 4351.90 −1.3% SILVER 63.76 −2.2% COPPER 6.40 −2.3% OIL 101.39 +1.3% PALLADIUM 1296.50 −2.1% QGR 0.200 +0.0% MSC 0.015 −25.0% GENM 0.705 −0.7% URC 3.89 +0.0% SHL 0.400 +4.6% AZS 0.750 −8.5% FL 0.415 +0.0% HMMC 8.29 −1.1% NAR 0.260 −5.5% GCN 0.030 −14.3% RIO 3.54 −1.4% EVI 0.430 +2.4% CTV 0.110 −4.3% ECOR 3.10 −4.0% TLG 2.20 +0.0% UCU 2.59 +2.8%
Drill Results Routine +

Hemlo Mining Corp. Intersects 89.9 g/t Au over 3.0 Metres at South-Rim, Further Defining High-Grade Mineralization Adjacent to C-Zone

Hemlo reported high-grade near-mine intercepts including one-metre intervals with significant gold grades, highlighting the potential of its Hemlo deposit.

By The Northwire Desk — AI Analysis Sep 10, 2026 · 06:30 HMMC · 8.23 Hemlo Mining Corp.
Executive Summary

Hemlo Mining Corp. (HMMC) has released assay results from 32 South-Rim holes, comprising 21 with significant intercepts, 10 with no significant results, and one pending assaying. The headline hole, 6702608, returned 89.89 g/t Au over 3.0 metres from 175.0m to 178.0m, including 236.00 g/t Au over 1.0 metre.

Other notable intercepts include 6702632 with 14.81 g/t Au over 10.0 metres, including 209.00 g/t Au over 0.6 metres, and 6702633 with 19.65 g/t Au over 5.0 metres, including 108.00 g/t Au over 0.8 metres. Hole 6702615 returned 12.97 g/t Au over 7.0 metres, including 38.44 g/t Au over 2.0 metres, while 4502643 returned 11.22 g/t Au over 3.0 metres, including 43.30 g/t Au over 0.7 metres. Additional intervals range from 2.30 g/t over 9.0 metres to 8.63 g/t over 4.6 metres, most with narrow high-grade inclusions.

The company states drilling has demonstrated approximately 500 metres of high-grade mineralization within an interpreted 1.5-kilometre South-Rim Zone, with about 1 kilometre untested. South-Rim is located 50 to 150 metres from active C-Zone mining and existing underground infrastructure.

Results were not included in the June 2026 updated Mineral Resource Estimate; a comprehensive Mineral Resource and Mineral Reserve update is targeted for H2 2027. The program has been expanded to include Conversion drilling aimed at advancing portions of South-Rim toward Indicated classification.

Material Impact

Hemlo Mining Corp. (HMMC) is an established producer with a market capitalization of approximately C$2.44 billion, holding 4.8 million ounces of gold in Measured & Indicated resources and 2.32 million ounces in probable reserves. The company’s recent South-Rim results represent near-mine growth rather than a new district-scale discovery, as the release provided no tonnage, contained ounces, or resource estimate for the target. Management stated that these results were not included in the June 2026 Mineral Resource Estimate (MRE) and that the drilling confirms previously interpreted dimensions rather than materially expanding them.

The new headline intercept of 89.89 g/t over 3.0 metres yields approximately 269.7 g/t-m, which is higher in gram-metres than the prior anchor result from May 14, 2026, of 16.07 g/t Au over 8.1 metres (approximately 130.2 g/t-m), though it is shorter and narrower. Other new intervals are broadly consistent with or slightly better than earlier South-Rim results.

HMMC shares have risen from about C$6.41 on May 14 to C$8.23 on September 9, 2026, a move partly reflecting the initial South-Rim discovery, strong Q2 earnings, and the broader gold tape. The new release is in line with or better than what the market appears to expect, though it does not constitute a transformational reserve or mine-life event at the current equity size.

HMMC · Price
Company Overview

Hemlo Mining Corp. is a Canadian gold producer focused on the Hemlo Gold Mine near Marathon, northwestern Ontario. The Hemlo camp has produced approximately 25 million ounces of gold since 1985. The company acquired the Hemlo mine from Barrick Mining Corporation in November 2025 for up to approximately US$1.1 billion.

Updated Mineral Resource Estimate effective December 31, 2025, reported Measured & Indicated resources of 96.9 Mt at 1.55 g/t Au for 4.8 moz Au, and Inferred resources of 12.1 Mt at 2.22 g/t Au for 0.9 moz Au. The December 2024 PFS reported probable mineral reserves of 2.321 moz Au at 1.75 g/t Au.

Q2 2026 attributable gold production was 25,188 ounces; YTD 2026 production was 54,887 ounces. Financial context from the provided statements: H1 2026 revenue was US$328.8 million, net income was US$53.1 million, cash was US$130.2 million, and net debt was approximately US$19.8 million.

The company trades on the TSX under HMMC and on OTCQX under HMMCF.

Read the original news release →

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Production / Operations Jun 25, 2026 · 06:00

Hemlo’s resource growth fuels optimism as the company navigates the critical challenges of execution and cost creep in its transition to an owner-operator.

Resource Estimate Jun 10, 2026 · 06:30

Hemlo’s TSX graduation marks capital markets progress, though unissued 2026 guidance and execution risks keep the stock in a holding pattern.

Regulatory May 20, 2026 · 18:01

Hemlo Mining’s first full quarter as owner-operator confirms strong cash flow and debt repayment, but the market’s focus is already shifting to the next exploration catalysts at South-Rim and the TSX graduation.

Earnings