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Resource Definition
Stage 2 of 8
Drilling has confirmed mineralization; the company is defining the size and grade of the deposit toward a formal, NI 43-101-style resource estimate.
Once drilling has confirmed that mineralization is real and continuous, the company shifts into resource definition: systematic step-out and infill drilling aimed at defining the size, shape, and grade of the deposit well enough to support a formal, code-compliant resource estimate (e.g., NI 43-101 in Canada, JORC in Australia). This is where a company builds out its Measured/Indicated/Inferred ounce count — the raw material that later economic studies will be built on. Share prices in this stage often move on drill-result news flow well before any economic study exists.
How this phase gets valued
EV / oz-in-ground
Roughly $10–50/oz for Inferred ounces, $30–100/oz for Indicated — resource-category confidence drives the multiple.
What drives speculation at this stage
Mineralization is confirmed but not yet sized — every new set of assays either strengthens or undercuts the case that a real, continuous system exists here. Drill-result news flow moves the stock well before any formal resource number does.
Companies At This Stage261
1844 Resources Inc.
EFF
SV2 Copper Project (Sullipek, Vortex and Vallieres zones), Gaspe Peninsula, Quebec (flagship; Sullipek NI 43-101 Inferred resource; 50% of the Vallieres claims in a joint venture with Glencore)
US$0.021 (CAD 0.03)
A2 Gold Corp.
AUAU
Eastside Project, Tonopah, Nevada
US$0.28 (CAD 0.40)
ATEX Resources Inc.
ATX
Valeriano Copper-Gold Project, Atacama Region, Chile
US$1.37 (CAD 1.92)
Advance Metals Limited
AVM
Yoquivo Silver Project (Chihuahua, Mexico) -- flagship; also Gavilanes Silver (Durango), Guadalupe y Calvo Gold-Silver (Chihuahua), Myrtleford + Beaufort Gold (Victoria, Australia)
US$0.029 (AUD 0.041)
Alaska Energy Metals Corporation
AEMC
Nikolai Nickel Project -- Eureka Deposit (Alaska, USA)
US$0.028 (CAD 0.04)
Alaska Silver Corp
WAM
Illinois Creek Project (Illinois Creek and Waterpump Creek deposits), Alaska
US$0.39 (CAD 0.55)
Altamira Gold Corp
ALTA
Cajueiro Project, Alta Floresta-Juruena Gold Belt
US$0.17 (CAD 0.24)
American Rare Earths Limited
ARR
Halleck Creek Rare Earths Project (Cowboy State Mine area), Wyoming, USA
US$0.24 (AUD 0.34)
American Uranium Limited
AMU
Lo Herma ISR Uranium Project (plus Great Divide Basin and Green Mountain), Converse County, Powder River Basin, Wyoming
US$0.035 (AUD 0.05)
American West Metals Limited
AW1
Storm Copper Project (Somerset Island, Nunavut, Canada)
US$0.02 (AUD 0.029)
Andean Silver Limited
ASL
Cerro Bayo Silver-Gold Project, Aysén Region, Chile
US$1.01 (AUD 1.45)
Apollo Silver Corp.
APGO
Calico Silver Project (Waterloo and Langtry), San Bernardino County, California
US$1.58 (CAD 2.22)
Arc Mineral Royalties Ltd.
ARO
1% NSR royalty (+ option for an additional 1% NSR) over Sinclair Gold Ltd.'s (ASX: SGC) Mt Henry Gold Project, Western Australia
US$0.63 (CAD 0.88)
Argenta Silver Corp.
AGAG
El Quevar Silver Project, Salta Province, Argentina
US$0.26 (CAD 0.37)
Arrow Minerals Limited
AMD
Niagara Bauxite Project (Guinea; the only mineral resource); also the Yarraloola Copper (80%) and Yarraloola Iron Ore projects (West Pilbara, Western Australia) and Simandou North Iron (Guinea, 33.3%)
US$0.018 (AUD 0.026)
Artemis Resources Ltd
ARV
Carlow Castle Gold-Copper-Cobalt Deposit (100%), Karratha Gold Project, West Pilbara, Western Australia -- also Paterson Central (East Pilbara) and the Osborne JV (lithium pegmatites, West Pilbara)
US$0.0021 (AUD 0.003)
Asara Resources Limited
AS1
Kada Gold Project, Guinea
US$0.084 (AUD 0.12)
Asarian Energy Limited
ARN
Norasa Uranium Project (Valencia & Namibplaas), Namibia
US$0.29 (CAD 0.41)
Aston Bay Holdings Ltd.
BAY
Storm Copper Project
US$0.043 (CAD 0.06)
Astra Exploration Inc.
ASTR
La Manchuria (5,600ha, Santa Cruz Province, Deseado Massif, Argentina); Pampa Paciencia/Cerro Bayo (Chile)
US$0.25 (CAD 0.35)
Aton Resources Inc.
AAN
Hamama West gold-silver deposit (sets stage), Abu Marawat exploitation lease, Eastern Desert, Egypt -- held through Abu Marawat Gold Mines, a JV company equally owned by Aton and EMRA; Rodruin (same lease) and the Abu Marawat VMS deposit (retained exploration area) are separate, non-stage-setting deposits
US$0.27 (CAD 0.39)
AuMEGA Metals Ltd
AAM
Cape Ray Gold Project, Newfoundland
US$0.022 (AUD 0.031)
Auris Minerals Limited
AUR
Bryah Basin Copper-Gold Portfolio (Forrest + Morck Well, Western Australia)
US$0.0098 (AUD 0.014)
Auro Metals Inc.
AURO
Santa Barbara Gold-Copper Project, Zamora Belt, Ecuador
US$1.14 (CAD 1.60)
Australian Gold and Copper Limited
AGC
Achilles Discovery, South Cobar Basin, New South Wales
US$0.088 (AUD 0.13)
Avalon Advanced Materials Inc.
AVL.TO
Multi-asset portfolio (Nechalacho Basal Zone Rare Earths Project flagship, Thor Lake, NWT -- 100% of the resources below 150 masl; Lake Superior Lithium hydroxide facility, Thunder Bay, Ontario; Separation Rapids Lithium Project, Ontario -- 40% via SRL, Sibelco-operated; East Kemptville Tin-Indium Project, Nova Scotia -- non-core)
US$4.29 (CAD 6.03)
Avrupa Minerals Ltd.
AVU
Alvalade VMS Project (Sesmarias deposit)
US$0.021 (CAD 0.03)
Awalé Resources Limited
ARIC
Odienné Project, Côte d'Ivoire
US$0.48 (CAD 0.67)
Axo Metals Corp.
AXO
San Antonio Gold-Silver Project (Sonora) and La Huerta Copper Project (Jalisco), Mexico
US$0.71 (CAD 1.00)
Azarga Metals Corp
AZR
Marg Cu-Pb-Zn-Ag-Au VMS Project (100%), Keno Hill District, Yukon, Canada
US$0.085 (CAD 0.12)
Azimut Exploration Inc.
AZM
Patwon Gold Deposit, Elmer Property, James Bay, Quebec (100%)
US$0.36 (CAD 0.50)
Ballard Mining Limited
BM1
Mt Ida Gold Project (Baldock Deposit), 200km north of Kalgoorlie, Western Australia
US$0.46 (AUD 0.65)
Banyan Gold Corp.
BYN
AurMac Project, Yukon, Canada
US$1.18 (CAD 1.66)
Bayhorse Silver Inc
BHS
Bayhorse Silver Mine (100%), Oregon, USA
US$0.039 (CAD 0.055)
Bellavista Resources Ltd
BVR
Pickle Crow Gold Project, Ontario, Canada
US$0.20 (AUD 0.29)
Benton Resources Inc
BEX
Great Burnt Copper-Gold Project (73.51%; JV with Homeland Nickel), central Newfoundland, Canada
US$0.057 (CAD 0.08)
Big Ridge Gold Corp.
BRAU
Multi-asset portfolio (Hope Brook Gold Project flagship, Newfoundland and Labrador; Destiny Gold Project, Quebec; Oxford Gold Project, Manitoba)
US$0.37 (CAD 0.52)
Blackstone Minerals Limited
BSX
Mankayan Copper-Gold Project, Northern Luzon, Philippines
US$0.018 (AUD 0.025)
Blende Silver Corp.
BAG
Blende Project (100%, carbonate-hosted Ag-Zn-Pb, Mayo Mining District, Yukon, Canada)
US$0.11 (CAD 0.16)
Blossom Gold Inc.
BGAU
Rosebud Project, Pershing County, Nevada
US$0.68 (CAD 0.95)
Blue Jay Gold Corp.
JAY
Steller Project (Yukon, Canada)
US$0.55 (CAD 0.77)
Blue Star Gold Corp.
BAU
Ulu-Hood River Project (High Lake Belt, Nunavut, Canada)
US$0.11 (CAD 0.16)
Bonterra Resources Inc.
BTR
Multi-asset portfolio (Phoenix JV: Barry and Gladiator deposits; Desmaraisville South: Bachelor and Moroy deposits and the Bachelor Mill), Quebec, Canada
US$0.096 (CAD 0.14)
Botswana Minerals plc
BMIN
KX36 kimberlite (100%, Central Kalahari, Botswana; SAMREC diamond resource); copper exploration licences (Botswana); Thorny River, Marsfontein and Reivilo Kimberlite Cluster (South Africa/Botswana, diamonds)
US$0.0024 (GBP 0.0018)
Breakthrough Minerals Limited
BTM
North Queensland Copper-Gold Project (Barbara, Hazel Creek/Turpentine, Mt Colin; Queensland) -- flagship; also the Errolls Gold Project (Western Australia)
US$0.059 (AUD 0.084)
C3 Metals Inc
CCCM
Jasperoide Copper-Gold Project, Cusco, Peru
US$0.45 (CAD 0.63)
Cadillac Mines Corporation
CADY
Kerr-Addison Project, Cadillac-Larder Lake Break, Ontario
US$3.30 (CAD 4.64)
Cannindah Resources Limited
CAE
Mt Cannindah Copper-Gold Project (central Queensland, Australia)
US$0.017 (AUD 0.024)
Capitan Silver Corp.
CAPT
Cruz de Plata Project, Durango, Mexico
US$1.41 (CAD 1.98)
Carolina Rush Corporation
RUSH
Brewer Gold-Copper Project (Chesterfield County, South Carolina, USA)
US$0.078 (CAD 0.11)
Cassiar Gold Corp.
GLDC
Cassiar Gold Project, British Columbia
US$0.26 (CAD 0.37)
Catalyst One Exploration Corp.
CATX
Palmetto Gold Project (100%, 116 claims, ~2,217 acres, Esmeralda County, Nevada) -- flagship; also the Giroux Project (Walker Lane, Nevada)
US$0.11 (CAD 0.16)
Centauri Minerals Inc.
CENT
Rio Grande Gold-Copper Project (100%, Salta Province, Argentina) -- flagship of a ~40,000ha, six-project northern Argentina portfolio (Salta/Jujuy/Catamarca) spun out of Aldebaran Resources Inc. (TSXV: ALDE)
US$0.78 (CAD 1.10)
Central Iron Ore Limited
CIO
South Darlot / British King (Kalgoorlie region, Western Australia)
US$0.043 (CAD 0.06)
Cerro de Pasco Resources Inc.
CDPR
Quiulacocha Project (flagship) & Excelsior Stockpile, Peru
US$0.51 (CAD 0.72)
Citigold Corporation Limited
CTO
Charters Towers Gold Project, Queensland, Australia
US$0.011 (AUD 0.015)
Coast Copper Corp.
COCO
Empire Mine Property (northern Vancouver Island, British Columbia, Canada)
US$0.24 (CAD 0.34)
Collective Mining Ltd.
CNL
Guayabales Project (Apollo System), Caldas Department, Colombia
US$11.56 (CAD 16.26)
Copper Giant Resources Corp.
CGNT
Mocoa Project, Putumayo, Colombia
US$0.65 (CAD 0.91)
Copper Lake Resources Ltd
CPL
Norton Lake nickel-copper-cobalt-PGE deposit (69.79%), southern Ring of Fire area, northwestern Ontario; also the Marshall Lake copper-zinc-silver-gold property (81.14%), near Nakina, northwestern Ontario
US$0.22 (CAD 0.32)
Cygnus Metals Limited
CY5
Chibougamau Copper-Gold Project, Quebec
US$0.11 (AUD 0.16)
DFR Gold Inc.
DFR
Cascades Gold Project (Burkina Faso)
US$0.021 (CAD 0.03)
Defiance Silver Corp
DEF
Tepal Gold-Copper Project, Michoacán (and Zacatecas Silver Project, Zacatecas)
US$0.092 (CAD 0.13)
Delta Lithium Limited
DLI
Yinnetharra Lithium Project and Mt Ida (lithium), Western Australia
US$0.12 (AUD 0.17)
Dome Gold Mines Ltd
DME
SPL 1495 Sigatoka Ironsands Project (100%, Viti Levu, Fiji); SPL 1452 Nadrau Cu-Au Porphyry (100%, Fiji, pre-drill)
US$0.035 (AUD 0.05)
Dynasty Gold Corp.
DYG
Thundercloud (Pelham deposit), Manitou-Stormy Lakes greenstone belt, northwestern Ontario (focus); Golden Repeat, Elko County, Nevada
US$0.078 (CAD 0.11)
Eagle Nuclear Energy Corp.
NUCL
Aurora Uranium Project, southeastern Oregon (Oregon-Nevada border area), USA
$4.99
Electra Battery Materials Corporation
ELBM
Iron Creek Cobalt-Copper Project, Idaho, USA (+ battery-materials refinery, Ontario, Canada)
US$0.43 (CAD 0.60)
Element 29 Resources Inc
ECU
Elida Porphyry Copper-Molybdenum-Silver Project, west-central Peru
US$1.15 (CAD 1.62)
Elevate Uranium Limited
EL8
Koppies Project, Namibia
US$0.14 (AUD 0.20)
Eloro Resources Ltd.
ELO
Iska Iska Silver-Tin Polymetallic Project, Potosi Department, southern Bolivia
US$0.97 (CAD 1.36)
Emerita Resources Corp.
EMO
Iberian Belt West (La Romanera, La Infanta, El Cura deposits), Andalusia, Spain
US$0.23 (CAD 0.33)
Empire Metals Limited
EEE
Pitfield Titanium Project, Western Australia
US$0.43 (GBP 0.32)
Endurance Gold Corporation
EDG
Reliance Gold Project, Bridge River Mining Camp, British Columbia
US$0.25 (CAD 0.35)
Energy Metals Ltd
EME
Bigrlyi Uranium-Vanadium Project, Ngalia Basin, Northern Territory
US$0.06 (AUD 0.085)
Entrée Resources Ltd.
ETG
Entrée/Oyu Tolgoi Joint Venture (Hugo North Extension & Heruga Deposits), South Gobi, Mongolia
US$1.91 (CAD 2.69)
Equity Metals Corporation
EQTY
Silver Queen Project, British Columbia
US$0.068 (CAD 0.095)
European Resources Limited
ERE
Korsnas / Jokikangas REE Projects (Finland); Hodrusa-Hamre Gold Project (Slovakia)
US$0.011 (AUD 0.015)
F3 Uranium Corp.
FUU
Patterson Lake North Project (JR Zone), Athabasca Basin, Saskatchewan
US$0.082 (CAD 0.12)
Fairchild Gold Corp.
FAIR
Nevada Titan Project (flagship, Goodsprings Mining District) and Golden Arrow Gold-Silver Project (Walker Lane), Nevada; also Carlin Queen (Nevada) and Fairchild Lake
US$0.028 (CAD 0.04)
Felix Gold Limited
FXG
Treasure Creek Gold-Antimony Project, Fairbanks Mining District, Alaska
US$0.098 (AUD 0.14)
Firebird Metals Limited
FRB
Oakover Manganese Project (East Pilbara Manganese Province, Western Australia)
US$0.091 (AUD 0.13)
Fireweed Metals Corp.
FWZ
Macpass Project (Tom, Jason, End Zone, Boundary Zone deposits, Yukon, Canada)
US$1.79 (CAD 2.51)
First Au Limited
FAU
Victorian Goldfields Project (East Gippsland, VIC); Gimlet Gold Project (Kalgoorlie, WA); Riverina East Gold Project (Menzies, WA); Barlee Gold Project (Marda-Evanston, WA)
US$0.13 (AUD 0.18)
Fitzroy Minerals Inc.
FTZ
Buen Retiro Copper Project & Caballos Cu-Mo-Au-Ag-Re Project, Atacama, Chile
US$0.38 (CAD 0.54)
Flagship Minerals Limited
FLG
Isidora Gold Project, Chile
US$0.10 (AUD 0.14)
Freegold Limited
FVL
Golden Summit Project, Alaska, USA
US$0.63 (CAD 0.88)
GR Silver Mining Ltd.
GRSL
Plomosas and San Marcial Silver-Gold Projects, Sinaloa, Mexico
US$0.20 (CAD 0.28)
GSP Resource Corp.
GSPR
Alwin Project (South-Central British Columbia)
US$0.064 (CAD 0.09)
Galantas Gold Corporation
GAL
Multi-asset portfolio (Andacollo Gold Project, Coquimbo Region, Chile -- 100%, flagship; Indiana gold-copper Project, Atacama Region, Chile -- leased, with an unexercised purchase option)
US$0.28 (CAD 0.39)
Gateway Mining Limited
GML
Yandal Gold Project (Yilgarn) and Barrelmaker Project (East Murchison), Western Australia
US$0.044 (AUD 0.063)
Gem Resources Plc
GEMR
Gravelotte Emerald Mine (Limpopo Province, South Africa); Curlew Emerald Mine, 65% held (Western Australia)
US$0.0053 (GBP 0.004)
Gladiator Metals Corp.
GLAD
Whitehorse Copper Project, Yukon
US$1.42 (CAD 2.00)
Gold Springs Resource Corp.
GRC
Gold Springs Project, Nevada-Utah border, USA
US$0.039 (CAD 0.055)
Gold Strike Resources Corp.
GSR
Florin Project (Yukon, Canada)
US$0.21 (CAD 0.30)
Gold Terra Resource Corp.
YGT
Yellowknife Gold Project, Northwest Territories
US$0.13 (CAD 0.19)
Gorilla Gold Mines Ltd
GG8
Vivien Gold Project (and North Kalgoorlie Hub: Comet Vale/Mulwarrie), Western Australia
US$0.17 (AUD 0.24)
Great Northern Minerals Ltd
GNM
Iron Butte Gold-Silver Project (Battle Mountain-Cortez district, Nevada, USA)
US$0.017 (AUD 0.024)
Great Southern Mining Limited
GSN
Duketon Gold Project (Golden Boulder discovery), Laverton, Western Australia
US$0.015 (AUD 0.022)
Green & Gold Minerals Limited
GG1
Chillagoe Gold Project (Mt Wandoo / Little Wandoo), north Queensland, Australia
US$0.057 (AUD 0.081)
Grid Metals Corp
GRDM
Mayville Copper-Nickel Deposit (89%), Bird River Greenstone Belt, Manitoba, Canada -- also Makwa Ni-Cu-PGM-Co Deposit (Teck option to earn up to 70%), Falcon West Cesium-Lithium Project (85%, JV with Avenir Minerals 15%), and Donner Lake Lithium Project (75%)
US$0.16 (CAD 0.22)
Group Eleven Resources Corp.
ZNG
PG West/Ballywire + Stonepark + Ballinalack Zinc-Lead-Silver Projects, north-central Ireland
US$0.52 (CAD 0.73)
Hammer Metals Limited
HMX
Kalman & Elaine-Dorothy Projects, Mount Isa District, Queensland
US$0.051 (AUD 0.072)
Haranga Resources Limited
HAR
Multi-asset portfolio (Lincoln Gold Project flagship, 100%, Mother Lode Belt, western Amador County, California, USA; Saraya Uranium Project, 70%, eastern Senegal; Ibel South Gold Project, 100%, Senegal)
US$0.057 (AUD 0.081)
Hawthorn Resources Limited
HAW
Anglo Saxon Gold Project (Trouser Legs JV, 70% Hawthorn / 30% Gel Resources, Pinjin WA) -- flagship; also Mount Bevan Magnetite and Mount Bevan Critical Minerals
US$0.05 (AUD 0.071)
Heavy Rare Earths Limited
HRE
Subron Rare Earths Project, 70 km SE of Norseman, Western Australia (the only JORC resource); Curnamona Province uranium and tin projects (Radium Hill, Prospect Hill, Lake Namba-Billeroo), South Australia
US$0.024 (AUD 0.034)
High-Tech Metals Limited
HTM
Mt Fisher Gold Project (100%) and Mt Eureka Gold Project (75%), Northern Goldfields, Western Australia; also the Werner Lake cobalt project (100%), Ontario, Canada
US$0.18 (AUD 0.26)
Iltani Resources Limited
ILT
Orient Silver-Indium Project, Herberton Project, north-east Queensland
US$0.25 (AUD 0.36)
Independence Gold Corp.
IGO
3Ts (flagship), Omineca Mining Division, British Columbia; additional ground in Yukon
US$0.085 (CAD 0.12)
IsoEnergy Ltd.
ISO
Larocque East Project (Hurricane Deposit), Athabasca Basin, Saskatchewan
US$8.29 (CAD 11.66)
Javelin Minerals Limited
JAV
Coogee Gold Project + Eureka Gold Project (Kalgoorlie, Western Australia)
US$0.056 (AUD 0.08)
Kenorland Minerals Ltd.
KLD
Western Wabigoon, South Uchi, Opinaca & Frotet Projects (Ontario/Quebec)
US$1.54 (CAD 2.16)
Klondike Gold Corp.
KG
Klondike District Property (Lone Star & Stander Zones, Yukon, Canada)
US$0.12 (CAD 0.17)
Kodiak Copper Corp.
KDK
MPD (Man-Prime-Dillard) Copper-Gold Project, British Columbia
US$0.48 (CAD 0.67)
LCL Resources Limited
LCL
Ono Project (Kusi gold skarn), Papua New Guinea
US$0.0049 (AUD 0.007)
Lac Gold Limited
LAC
Rouyn Gold Project (Quebec) and Pickle Lake Gold Project (Ontario)
US$0.22 (AUD 0.32)
Lahontan Gold Corp.
LG
Santa Fe Mine Project, Mineral County, Nevada
US$0.23 (CAD 0.33)
Lake Victoria Gold Ltd.
LVG
Imwelo Gold Project, Geita Greenstone Belt
US$0.26 (CAD 0.37)
Laurion Mineral Exploration Inc.
LME
Ishkoday Project, Ontario
US$0.10 (CAD 0.14)
Lavras Gold Corp.
LGC
Lavras do Sul Gold Project, Rio Grande do Sul
US$1.99 (CAD 2.80)
Leeuwin Metals Limited
LM1
Marda Gold Project (WA Goldfields, >500km2) -- flagship; also William Lake Nickel (Manitoba), Cross Lake Lithium, West Pilbara Iron Ore
US$0.15 (AUD 0.21)
Legacy Minerals Holdings Limited
LGM
Multi-project NSW portfolio (~9 projects, ~8,000km2): Fontenoy (active drilling), Mt Carrington (development focus), Bauloora, Rockley, Harden, Cobar, Glenlogan, Drake Gold-Copper, Black Range
US$0.077 (AUD 0.11)
Lexington Gold Ltd
LEX
Jelani joint venture, Free State goldfield, Witwatersrand Basin, South Africa (flagship, held through White Rivers Exploration); North and South Carolina gold projects, USA (binding agreement to sell to GoldOz)
US$0.032 (GBP 0.024)
LinQ Minerals Limited
LNQ
Gilmore Gold-Copper Project, New South Wales
US$0.36 (AUD 0.52)
Locksley Resources Limited
LKY
Tottenham Copper-Gold Project (Cobar-Girilambone District, NSW) and Iron Duke (option, NSW); also the Mojave Antimony-REE Project (California, USA)
US$0.049 (AUD 0.07)
Lode Gold Resources Inc.
LOD
Multi-asset portfolio (Fremont Gold Mine flagship, California; Dingman Gold Project, Ontario)
US$0.20 (CAD 0.29)
Macro Metals Limited
M4M
Extension Iron Ore Project (27.3%, East Pilbara) and West Pilbara CID (100%), Western Australia; also Catho Well and other Pilbara iron ore tenements, and the Agbaja project in Nigeria (being divested)
US$0.0042 (AUD 0.006)
Magmatic Resources Limited
MAG
Myall Copper-Gold Project (JV with Fortescue), NSW; Parkes and Wellington North Copper-Gold Projects, NSW (wholly-owned); Weebo Gold Project, WA
US$0.012 (AUD 0.017)
Maple Gold Mines Ltd.
MGM
Douay/Joutel Gold Project, Abitibi Greenstone Belt, Quebec
US$1.83 (CAD 2.57)
McFarlane Lake Mining Limited
MLM
Juby Gold Project, Gowganda, Ontario
US$0.33 (CAD 0.46)
Metal Bank Limited
MBK
Livingstone Gold Project (Bryah-Padbury Basin, Western Australia)
US$0.007 (AUD 0.01)
Metallic Minerals Corp.
MMG
La Plata Project (southwestern Colorado, USA)
US$0.13 (CAD 0.18)
Midas Minerals Limited
MM1
Otavi Copper-Silver Project (Namibia, flagship, 100% owned via Midnab Resources Pty Ltd; initial JORC Inferred Mineral Resource at T-13, 10.5Mt @ 1.6% Cu, 21g/t Ag); Challa (WA, Gold-Nickel-Copper-PGE); Reid-Aylmer & Greenbush (NWT, Canada, lithium pegmatite)
US$0.66 (AUD 0.94)
Midnight Sun Mining Corp.
MMA
Solwezi Project (Dumbwa and Kazhiba deposits), North-Western Province, Zambia
US$0.28 (CAD 0.40)
Millennium Silver Corp.
MSC
Silver Peak Project (southwest Nevada, USA)
US$0.018 (CAD 0.025)
Minaurum Silver Inc.
MGG
Alamos Silver Project, Sonora, Mexico
US$0.18 (CAD 0.26)
Minco Silver Corporation
MSV
Fuwan Silver Project, Guangdong Province
US$0.38 (CAD 0.53)
Mindax Limited
MDX
Mt Forrest Iron Project, Yilgarn Province, Western Australia
US$0.025 (AUD 0.035)
Minnova Corp.
MCI
PL Gold Mine (Flin Flon Greenstone Belt, Manitoba, Canada)
US$0.12 (CAD 0.18)
Minsud Resources Corp
MSR
Chita Valley Cu-Au-Ag-Mo-Zn Project (Chinchillones + Chita South deposits), San Juan, Argentina
US$0.36 (CAD 0.50)
Mithril Silver and Gold Limited
MSG
Copalquin District gold-silver project (Target 1 deposit), Durango State, Mexico (100%)
US$0.15 (CAD 0.21)
Murchison Minerals Ltd.
MUR
BMK (Brabant-McKenzie) Zinc-Copper-Silver VMS Project (100%, Saskatchewan); also HPM Nickel-Copper-Cobalt Project (100%, 951 sq km, Quebec)
US$0.13 (CAD 0.19)
NGEx Minerals Ltd.
NGEX
Lunahuasi Project, San Juan Province, Argentina (100%), and Los Helados Project, Region III, Chile (about 69%), Vicuña District
US$15.14 (CAD 21.29)
Nagambie Resources Limited
NAG
Nagambie Antimony-Gold Project (Waranga Domain, Victoria, Australia)
US$0.0091 (AUD 0.013)
Neo Energy Metals Plc
NEO
Henkries Uranium Project, Northern Cape Province, South Africa
US$0.0071 (GBP 0.0053)
NevGold Corp.
NAU
Nutmeg Mountain & Zeus (Idaho); Limousine Butte & Cedar Wash (Nevada); Ptarmigan (BC, Canada)
US$0.46 (CAD 0.64)
Nevada King Gold Corp.
NKG
Atlanta Gold Mine Project, Nevada
US$0.50 (CAD 0.70)
New Frontier Minerals Limited
NFM
NWQ Copper Project (Big One deposit, Mt Isa copper belt, Queensland); also the Harts Range (Northern Territory) and Pomme (Quebec) rare-earth projects
US$0.0028 (AUD 0.004)
Nexus Minerals Limited
NXM
Wallbrook Gold Project (flagship, Eastern Goldfields, Western Australia); also the Pinnacles Gold Project (100%, next to Carosue Dam), Bethanga copper-gold (Victoria) and critical-minerals ground in New South Wales
US$0.029 (AUD 0.042)
Nickel North Exploration Corp.
NNX
Hawk Ridge Cu-Ni-Co-PGE Sulfide Project (100%, Northern Quebec)
US$0.018 (CAD 0.025)
Noble Plains Uranium Corp.
NOBL
Duck Creek Project, Powder River Basin, Wyoming, USA
US$0.046 (CAD 0.065)
Nord Precious Metals Mining Inc.
NTH
Gowganda Silver Tailings Project (flagship) and Castle Project, Gowganda Silver District (Cobalt Camp, Ontario, Canada)
US$0.092 (CAD 0.13)
North Arrow Minerals Inc.
NAR
Kraaipan Gold Project (Botswana)
US$0.17 (CAD 0.24)
North Stawell Minerals Limited
NSM
North Stawell Project / Caledonia & Darlington Prospects (Victoria, Australia)
US$0.015 (AUD 0.022)
NorthWest Copper Corp.
NWST
Kwanika-Stardust Copper-Gold Project, British Columbia
US$0.18 (CAD 0.26)
Norwest Minerals Ltd
NWM
Bulgera Gold Project, Plutonic Well Greenstone Belt, Western Australia
US$0.0049 (AUD 0.007)
Nova Minerals Corp.
NVA
Estelle Gold-Antimony Project (RPM Deposit), Alaska
$3.13
Novo Resources Corp
NVO
Belltopper Gold Project, near Malmsbury, Victoria (flagship, 100%; Leven Star Reef Inferred resource); Western Australian projects Egina, Wyloo, Teichman, Toolunga and Balla Balla; Tibooburra Gold Project, New South Wales (100% and farm-in)
US$0.042 (AUD 0.06)
OD6 Metals Limited
OD6
Splinter Rock Project (Goldfields-Esperance region, Western Australia)
US$0.063 (AUD 0.09)
OnGold Resources Ltd.
ONAU
Monument Bay Gold Project, Manitoba (resource-stage flagship; plus the TPK / Ti-pa-haa-kaa-ning exploration package in Ontario: Gold Ridge/Big Dam, October Gold, Domain, Meston, Rapson, Thorne Lake)
US$0.40 (CAD 0.56)
Orex Minerals Inc.
REX
Jumping Josephine (JJ Main Gold Deposit, 100% Orex, British Columbia, Canada) -- flagship for stage/ouncesFound; Sandra Project (Boleras Ag deposit, 40% Orex/60% Pan American Silver JV, Durango, Mexico) -- real secondary asset, documented separately
US$0.092 (CAD 0.13)
Oriole Resources PLC
ORR
Mbe & Bibemi (Cameroon, flagship); Fare South/Senala (Senegal)
US$0.0035 (GBP 0.0027)
Orosur Mining Inc.
OMI
Anza Project (Pepas & El Pantano), Middle Cauca Belt, Colombia
US$0.17 (CAD 0.24)
Osisko Metals Incorporated
OM
Gaspé Copper Project, Murdochville, Québec
US$1.15 (CAD 1.61)
Outcrop Silver & Gold Corporation
OCG
Santa Ana Project, Tolima, Colombia
US$0.20 (CAD 0.28)
OzAurum Resources Limited
OZM
Mulgabbie North Gold Project (Eastern Goldfields, Western Australia)
US$0.045 (AUD 0.064)
PC Gold Ltd
PC2
Spring Hill Gold Project, Pine Creek, Northern Territory
US$0.64 (AUD 0.91)
PTR Minerals Limited
PTR
Rosewood Titanium Project (Muckanippie), northern Gawler Craton, South Australia
US$0.056 (AUD 0.08)
Pacific Ridge Exploration Ltd.
PEX
Kliyul Copper-Gold Project (Quesnel Terrane, British Columbia, Canada)
US$0.11 (CAD 0.15)
Palisade Metals Ltd
PM1
Beecher Lithium-Rubidium Project, Black Hills, South Dakota, USA (flagship); Finley Basin Tungsten, Montana, USA (secondary)
US$0.037 (AUD 0.052)
Pan Global Resources Inc.
PGZ
Escacena Project (La Romana + Canada Honda deposits), Andalusia, Spain
US$0.12 (CAD 0.18)
Panoro Minerals Ltd.
PML
Cotabambas Copper-Gold-Silver Project, Apurímac, Peru
US$0.98 (CAD 1.38)
Panther Metals Ltd
PNT
Coglia Nickel-Cobalt Project / Burtville East Gold Project (Western Australia)
US$0.0042 (AUD 0.006)
Panthera Resources plc
PAT
Kalaka Gold Project (Mali)
US$0.29 (GBP 0.22)
Patronus Resources Limited
PTN
Cardinia Gold Project (Mertondale + Cardinia East, ~40km from Leonora, WA) and the Pine Creek gold deposits (Fountain Head, Tally Ho, Glencoe, Mt Porter, NT)
US$0.033 (AUD 0.047)
Pecoy Copper Corp.
PCU
Pecoy Copper-Gold-Molybdenum Project, southern Peru
US$1.37 (CAD 1.92)
Pelangio Exploration Inc
PX
Manfo Gold Project, Sefwi Gold Belt, Ghana (100%)
US$0.092 (CAD 0.13)
Phoenix Metals Corp.
PCA
Greenwood Project (Lexington, Golden Crown, et al.), Boundary Region, BC
US$0.73 (CAD 1.03)
Pilbara Gold Limited
PGL
Mt York Gold Project, Pilbara Region, Western Australia
US$0.31 (AUD 0.44)
Podium Minerals Limited
POD
Range Well Nickel Project and Parks Reef PGM Project (Weld Range, Mid-West region, Western Australia)
US$0.018 (AUD 0.025)
Power Metallic Mines Inc.
PNPN
Nisk-Lion-Tiger Nickel-Copper-PGE Project, Quebec
US$0.66 (CAD 0.93)
Probe Gold Inc.
PRB
Novador Project, Val-d'Or, Quebec
US$2.58 (CAD 3.64)
Prodigy Gold NL
PRX
Tanami North Project (Hyperion & Tregony Deposits, Northern Territory, Australia)
US$0.035 (AUD 0.05)
Puma Exploration Inc.
PUMA
Williams Brook Gold Project (Northern New Brunswick, Canada)
US$0.085 (CAD 0.12)
Q2 Metals Corp.
QTWO
Cisco Lithium Project, Eeyou Istchee James Bay, Quebec, Canada
US$1.31 (CAD 1.84)
Radius Gold Inc.
RDU
Holly Project, Guatemala
US$0.17 (CAD 0.24)
Rapid Critical Metals Limited
RCM
NSW silver portfolio (New England Fold Belt, northern New South Wales) -- Webbs, Conrad and Webbs Consol, ~67Moz AgEq combined JORC (2012), plus Tooloom (80%) and the Tangoa prospects; also Prophet River gallium-germanium (British Columbia, Canada, 100%)
US$0.02 (AUD 0.028)
Reach Resources Limited
RR1
Murchison South Gold Project (Western Australia, Australia)
US$0.0077 (AUD 0.011)
Recharge Metals Limited
REC
Sunset Well Gold Project, Leonora district, Western Australia (100%); Express Lithium Project, James Bay, Quebec, Canada (100%)
US$0.026 (AUD 0.037)
ReeXploration Inc.
REE
Eureka Rare Earths Project (100%, Erongo Mining Corridor, Namibia) -- Nd/Pr-focused
US$0.025 (CAD 0.035)
Regency Silver Corp.
RSMX
Dios Padre (Sonora, Mexico)
US$0.071 (CAD 0.10)
Regulus Resources Inc.
REG
AntaKori Copper-Gold-Silver Project, Cajamarca, Peru
US$3.48 (CAD 4.89)
Renegade Gold Inc.
RAGE
Rebel Gold Deposit (Red Lake district, Ontario)
US$0.21 (CAD 0.30)
Resolution Minerals Ltd
RML
Horse Heaven Gold-Antimony-Tungsten Project, Valley County, Idaho
US$0.022 (AUD 0.032)
Riedel Resources Limited
RIE
Cosmo Gold Project (Laverton Gold District, Western Australia); also the Mt Venn (Western Australia) and Kingman (Arizona, USA) projects
US$0.012 (AUD 0.017)
Rincon Resources Limited
RCR
Telfer South Gold-Copper Project (Paterson Province, WA); Crackerbox Gold Project (Murchison, WA); West Arunta Project (WA, 10% free-carried JV interest post-divestment)
US$0.0084 (AUD 0.012)
Rockfire Resources plc
ROCK
Molaoi Zn/Ag/Ge/Pb Project (Laconia, Peloponnese, Greece)
US$0.0022 (GBP 0.0017)
SPC Nickel Corp.
SPC
Lockerby East / West Graham Deposit (100%), Sudbury Basin, Ontario, Canada
US$0.05 (CAD 0.07)
Sarama Resources Ltd
SRR
Sanutura Project -- Bondi Deposit (Djarkadougou 2 permit, 100%), Houndé Belt, Burkina Faso; Tankoro 2 permit withdrawn 2023, under arbitration
US$0.017 (AUD 0.024)
Scorpio Gold Corporation
SGLD
Manhattan District (Goldwedge), Nevada
US$0.19 (CAD 0.27)
Sentinel Metals Limited
SNM
Columbia Gold-Silver Project, Montana
US$0.21 (AUD 0.30)
Seva Mining Corp.
SEVA
Cameron Gold Project, Northwestern Ontario, Canada
US$0.21 (CAD 0.29)
Signature Resources Ltd.
SGU
Lingman Lake (Red Lake district, Ontario, Canada)
US$0.028 (CAD 0.04)
Silver Bull Resources, Inc.
SVB
Sierra Mojada Project (100%, Coahuila, Mexico) -- BLOCKADED since Sept 2019, non-active
US$0.053 (CAD 0.075)
Silver Elephant Mining Corp.
ELEF
Pulacayo Paca Silver-Lead-Zinc Project, including the Apuradita mining area (Potosí, Bolivia); Robinson-Lasher zinc-germanium-gallium project, Kentucky (acquisition pending)
US$0.12 (CAD 0.18)
Silver One Resources Inc.
SVE
Candelaria Silver Project, Mineral County, Nevada
US$0.28 (CAD 0.39)
Silver Valley Metals Corp.
SILV
MexiCan Project (100%, Zacatecas/San Luis Potosi, Mexico) -- potassium (SOP) and lithium salar-brine target, flagship despite the company's own 'Silver Valley' name
US$0.082 (CAD 0.12)
Silver Viper Minerals Corp.
VIPR
La Virginia Project, Sonora, Mexico
US$0.20 (CAD 0.28)
Silver47 Exploration Corp.
AGA
Red Mountain Project, Alaska (flagship)
US$0.36 (CAD 0.51)
Sinclair Gold Ltd
SGC
Mt Henry Gold Project, Western Australia
US$0.72 (AUD 1.03)
Sinda Ltd.
SIND
Guanajuato Silver Project, Guanajuato, Mexico
$10.75
Sirios Resources Inc.
SOI
Cheechoo Gold Project, Eeyou Istchee James Bay, Quebec, Canada
US$0.13 (CAD 0.19)
Sitka Gold Corp.
SIG
RC Gold Project, Yukon, Canada
US$0.65 (CAD 0.92)
Skyharbour Resources Ltd.
SYH
Moore Uranium Project & Russell Lake JV, Athabasca Basin, Saskatchewan
US$0.24 (CAD 0.34)
Skylark Minerals Limited
SKM
Zaranou Gold Project (southeast Côte d'Ivoire, 51% earning to 100%) -- flagship; also Maphai + Vavoua (Côte d'Ivoire), Simon-Anderson copper (Mt Isa, Qld, 80%), Perseverance Li/REE (Minas Gerais, Brazil, 100%), Fiery Creek EL 6925 (NSW, 100%), Captains Flat EL 6381 (NSW, 50% with Glencore)
US$0.16 (AUD 0.23)
South Atlantic Gold Inc.
SAO
Pedra Branca Gold Project (100%, 24 exploration licences, ~38,926 hectares, Ceara State, Brazil)
US$0.039 (CAD 0.055)
South Pacific Metals Corp.
SPMC
Kili Teke Copper-Gold Project, Papua New Guinea
US$0.50 (CAD 0.70)
Southern Cross Gold Consolidated Ltd
SX2
Sunday Creek, Victoria, Australia
US$6.95 (AUD 9.91)
Stillwater Critical Minerals Corp.
PGE
Stillwater West
US$0.26 (CAD 0.36)
Strickland Metals Limited
STK
Rogozna Gold and Base Metals Project, Raska District, Serbia
US$0.039 (AUD 0.055)
StrikePoint Gold Inc.
SKP
Northumberland Gold Project (100%, Nevada's Walker Lane; flagship, acquired from Newmont on 6 October 2026); Porter Idaho (100%) and Willoughby gold-silver properties (BC Golden Triangle); Hercules Gold Project (Nevada)
US$1.19 (CAD 1.68)
Sun Silver Limited
SS1
Maverick Silver Project, Elko County, Nevada
US$0.56 (AUD 0.81)
Sunstone Metals Ltd
STM
Bramaderos Gold-Copper Project, Ecuador
US$0.14 (AUD 0.20)
Surge Battery Metals Inc.
NILI
Nevada North Lithium Project, Elko County, Nevada, USA
US$0.44 (CAD 0.62)
T2 Metals Corp
TWO
Sherridon Project, Manitoba, Canada
US$0.23 (CAD 0.33)
TDG Gold Corp.
TDG
Greater Shasta-Newberry Project (Shasta Gold-Silver Deposit), Toodoggone District, British Columbia
US$0.39 (CAD 0.55)
TNR Gold Corp.
TNR
Shotgun Gold Project, Alaska
US$0.22 (CAD 0.30)
Tanami Gold NL
TAM
Central Tanami Project Joint Venture (Groundrush), Northern Territory
US$0.041 (AUD 0.059)
Taranis Resources Inc.
TRO
Thor Gold-Silver Project (100%, epithermal Au-Ag-Cu-Pb-Zn, Revelstoke Mining Division, British Columbia, Canada)
US$0.078 (CAD 0.11)
Terrain Minerals Limited
TMX
Wild-Viper and Smokebush Gold Projects; Lort River Nickel-Copper Project, Western Australia
US$0.0021 (AUD 0.003)
Teuton Resources Corp.
TUO
Treaty Creek Project (Goldstorm deposit), Golden Triangle, BC
US$1.03 (CAD 1.45)
Thunder Gold Corp.
TGOL
Tower Mountain Gold Property, 40km from Thunder Bay, Ontario (100%)
US$0.10 (CAD 0.14)
Thunder Mountain Gold, Inc.
THM
South Mountain Project, Owyhee County, Idaho
US$0.78 (CAD 1.10)
TinOne Resources Inc
TORC
Great Pyramid, Rattler Range, Aberfoyle and Mount Maurice tin projects, Tasmania
US$0.12 (CAD 0.17)
Titan Minerals Limited
TTM
Dynasty Gold Project, Ecuador
US$0.35 (AUD 0.50)
Torque Metals Limited
TOR
Paris Gold Project, Western Australia
US$0.13 (AUD 0.19)
Total Metals Corp.
TT
High Lake Gold Property (Purdex Zone), northwestern Ontario (flagship; Indicated gold resource), with the nearby West Hawk Lake property, Manitoba; Electrolode copper-zinc-silver-gold property, Red Lake Mining District, Ontario; Menary and Pick Lake properties, Ontario
US$0.14 (CAD 0.20)
Triumph Gold Corp.
TIG
Freegold Mountain Project (Nucleus, Revenue, Tinta Hill deposits), Dawson Range Au-Cu Belt, Yukon (100%)
US$0.57 (CAD 0.80)
Tsodilo Resources Limited
TSD
Xaudum Iron Formation Project (Block 1), Ngamiland, north-west Botswana (100% through Gcwihaba Resources); copper-cobalt and rare earth targets on the same licences
US$0.078 (CAD 0.11)
Tudor Gold Corp.
TUD
Treaty Creek Project (Goldstorm Deposit), British Columbia, Canada
US$0.57 (CAD 0.80)
US1 Critical Minerals Limited
USC
Mkuju Project (Tanzania) -- flagship; also Foxy and Eland (Tanzania)
US$0.013 (AUD 0.018)
Ucore Rare Metals Inc.
UCU
Bokan Dotson-Ridge Rare Earth Element Project, Alaska, USA
US$1.37 (CAD 1.92)
Unico Silver Limited
USL
Cerro Leon & Joaquin Districts, Santa Cruz, Argentina
US$0.43 (AUD 0.61)
ValOre Metals Corp.
VO
Pedra Branca PGE Project, Ceara State, Brazil
US$0.039 (CAD 0.055)
Valhalla Metals Inc.
VMXX
Sun Project & Smucker Project, Ambler Mining District, Alaska
US$0.29 (CAD 0.41)
Valiant Gold Limited
VAL
Reedy and Comet Gold Projects, Murchison Region, Western Australia
US$0.16 (AUD 0.24)
Verdera Energy Corp.
V
Crownpoint and Hosta Butte Project, McKinley County, New Mexico
US$0.19 (CAD 0.27)
Verity Resources Ltd
VRL
Monument Gold Project (Laverton Goldfields, Western Australia) -- flagship; also a Botswana Cu-Ag portfolio and a Brazil Li/REE JV
US$0.007 (AUD 0.01)
Viking Mines Limited
VKA
Linka Tungsten Project, Lander County, Nevada, USA (flagship); Canegrass Battery Minerals Project, Western Australia
US$0.007 (AUD 0.01)
Viscount Mining Corp.
VML
Silver Cliff Project (Kate Deposit), Colorado, USA
US$0.32 (CAD 0.46)
Vita Resources NL
VTA
ICE Copper-Gold Project (Yukon Territory, Canada)
US$0.015 (AUD 0.022)
Vizsla Copper Corp.
VCU
Palmer VMS Project, Alaska (and Poplar, BC; Woodjam, BC)
US$0.70 (CAD 0.98)
Volcanic Gold Mines Inc.
VG
Holly Gold-Silver Project (Zacapa, Guatemala)
US$0.064 (CAD 0.09)
WA1 Resources Ltd
WA1
Luni Niobium Project, West Arunta region, Western Australia
US$5.90 (AUD 8.41)
Walker Lane Resources Ltd.
WLR
Silver Hart Property (Rancheria Silver District, Yukon)
US$0.10 (CAD 0.14)
Western Mines Group Ltd
WMG
Mulga Tank Ni-Co-Cu-PGE Project, Minigwal Greenstone Belt, Eastern Goldfields, Western Australia
US$0.088 (AUD 0.13)
Wolfden Resources Corporation
WLF
Canoe Landing Polymetallic VMS Deposit (100%, Bathurst Mining Camp, New Brunswick, Canada) -- flagship for stage/ouncesFound; also Pickett Mountain Zn-Pb-Cu-Ag-Au VMS Deposit (100%, Penobscot County, Maine, USA)
US$0.036 (CAD 0.05)
Xtra-Gold Resources Corp.
XTG
Kibi Gold Project, Kibi Gold Belt
US$1.76 (CAD 2.47)
Yandal Resources Limited
YRL
Ironstone Well-Barwidgee Gold Project (Flushing Meadows deposit), Yandal Greenstone Belt, Western Australia
US$0.067 (AUD 0.096)
Zacatecas Silver Corp.
ZAC
Esperanza Gold Project (Morelos) and Zacatecas Property (Zacatecas Mining District), Mexico
US$0.036 (CAD 0.05)
Zenith Minerals Limited
ZNC
Consolidated Dulcie Gold Project, Western Australia
US$0.057 (AUD 0.081)