Algo Grande Provides Phase II Drill Update; Hole 2 Copper Zone Doubles as Hole 3 Delivers Extensive New Interval, Remains Mineralized at Depth
Algo Grande expands the Cerro Grande copper project, though no assay data were provided to confirm the extent of the growth.
Algo Grande Copper Corp. (ALGR) released a Phase II drill update for the Adelita Project’s Cerro Grande target in Sonora, Mexico. The findings are based entirely on visual core logging, with no assay results included at this stage.
In Hole AG_CG_PH2_002, the total visual copper-bearing footprint expanded to 68.77 m of aggregate mineralization across a 154.40 m downhole interval from 146.70 m to 301.10 m. This includes a key 19.22 m sub-interval in the lower zone. Hole AG_CG_PH2_003 intersected 37.42 m of visual copper within a combined 73.91 m interval from 165.74 m to 239.65 m, and the hole remains in mineralization at 239.65 m.
Mineralogy identified in the core includes chalcocite, chalcopyrite, bornite, covellite, and chrysocolla. Molybdenite was noted specifically in Hole 2.
Initial core from Hole 2 was delivered to ALS Hermosillo on August 7, with results expected in the coming weeks. No assays have been reported for Hole 3. CEO comments described the work as "building a compelling case for scale" while emphasizing the early stage of the project.
Algo Grande Copper Corp. (ALGR) is an early-stage explorer with no established resource, operating on a going-concern basis and reliant on equity for funding. The company’s stock rose from $0.44 on July 23 to $0.65 by the August 10 close, a move likely driven by market anticipation of assay results. This recent update, which remains purely visual and lacks assay data, does not constitute new material information.
A previous visual release on July 28 triggered a brief price increase from $0.49 to $0.53, followed by a drift higher, also occurring prior to the availability of assays. This latest release adds further visual length but no hard data, serving as an incremental update that does not materially de-risk the project. Even if future assays confirm strong grades, this current release acts as a placeholder and does not change the resource potential in a quantifiable way.
Algo Grande Copper Corp. (TSXV: ALGR) is a pre-resource junior explorer focused on the 100%-owned Adelita Project in Sonora, Mexico, which covers 5,895 hectares. The project hosts the Cerro Grande skarn-porphyry Cu-Ag-Au system and multiple untested targets along a 6 km corridor.
Phase I drilling, consisting of four holes totaling 2,000 meters, returned intercepts such as 14.79 m @ 1.4% Cu, confirming a stacked, five-horizon skarn system. Phase II, which plans for 8,000 meters of drilling, is currently underway with two rigs.
Financials as of Q1-2026 show $5.5 M in cash and a working capital of $5.3 M, with no debt. A February 2026 financing raised $6.52 M at $0.65/share, fully funding Phase II. The company carries a going concern flag due to significant ongoing cash burn, including a $2.4 M operating loss in Q1.
Shares outstanding stand at 42.34 M following the financing. Management includes CEO Enrico Gay, VP Exploration João Rocha, and senior technical advisor Dr. Peter Megaw.