Northwire Canada EditionSaturday, November 7, 2026
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Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7% Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7%
Drill Results

Hemlo Mining Corp. Intersects 16.1 g/t Au over 8.1 Metres in Newly Interpreted South-Rim Zone Adjacent to Active Mining in C-Zone

By The Northwire Desk — AI Analysis May 14, 2026 · 06:30 HMMC · 6.11 Hemlo Mining Corp.
HMMC · Price

Executive Summary

  • Hemlo Mining Corp. has announced high-grade gold intercepts from its newly identified South-Rim Zone, a structurally controlled mineralized domain located adjacent to active mining in the C-Zone.
  • The results are part of a massive 130,000-metre 2026 exploration drilling program designed to drive resource growth and extend mine life at the Hemlo Gold Mine.
  • Initial drilling confirms a high-grade system within regional metasediments with significant potential for near-term, low-capital resource conversion due to its proximity to existing underground infrastructure.

Key Details

Drill Intercepts (South-Rim Zone): * Hole 765/2606: 16.07 g/t Au over 8.1 metres (including 59.67 g/t Au over 2.0 metres) * Hole 765/2603: 5.79 g/t Au over 11.0 metres (including 38.40 g/t Au over 0.9 metres) * Hole 765/2604: 6.04 g/t Au over 4.8 metres (including 36.20 g/t Au over 0.6 metres) * Hole 765/2605: 8.05 g/t Au over 4.3 metres (including 21.90 g/t Au over 0.8 metres) * Hole 765/2607: 3.44 g/t Au over 5.7 metres (including 22.80 g/t Au over 0.4 metres)

2026 Drilling Program Overview: * Total Program Scale: 130,000 metres total drilling commitment. * Program Components: * 70,000 metres of Resource Conversion Drilling (targeting Inferred to Indicated upgrades). * 30,000 metres of High-Definition Drilling (to de-risk near-term mine plan). * 30,000 metres of Growth Drilling (testing new zones). * Progress to Date: Approximately 28,400 metres completed across all programs.

Geological & Operational Context: * The South-Rim Zone is a newly recognized domain located 50 to 150 metres from active mining in the C-Zone. * Reinterpretation reveals a plunge-controlled system extending over 1.5 kilometres vertically within a ~300-metre-wide east-west corridor. * The mineralization is hosted within regional metasediments and represents a significant, previously underexplored source of near-mine gold.

Corporate Update: * Hemlo Mining has engaged ICP Securities Inc. to provide automated market-making services. * The agreement involves a monthly fee of C$7,500 (plus taxes) for an initial four-month term.

Notable Quotes

Jason Kosec, President, CEO & Director of Hemlo Mining: "Initial results from South-Rim highlight the strength of our exploration team, who have reinterpreted decades of data to define a high-grade mineralized structure now being confirmed by drilling. South-Rim is particularly compelling given its proximity to existing underground infrastructure, supporting low-capital resource conversion. This reinforces our view that Hemlo remains highly prospective, even after forty years of production."

Read the original news release →

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

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Hemlo’s Q2 AISC surges 42% quarter-over-quarter to $2,561 per ounce, with transition costs eroding cash flow despite high gold prices.

Earnings Jul 20, 2026 · 16:05

Hemlo expands its resource base despite a Q2 grade decline and missing cost data that obscure near-term margin risks.

Production / Operations