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When Production Isn’t Production and Prices Aren’t Prices

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Many debates on economic topics hinge on a set of familiar words: production, prices, costs, value. These terms appear constantly in political speeches, news articles, and policy discussions. Yet they are rarely used with much precision (at least where academic economists are concerned). As a result, people often talk past one another while believing they are in agreement — or disagreement — about the same thing.

Confusing colloquial meanings with technical definitions can lead to deeply flawed conclusions about how markets work and what governments can realistically accomplish. When it is asserted, for example, that governments “produce” value or that sellers “set” prices, these statements seem plausible, but precisely because the words involved are doing too much work. Clarifying what economists actually mean by these terms goes a long way toward dissolving common economic myths.

Two simple examples — one involving production and the other involving prices — illustrate how careless language leads to poor economic reasoning and, ultimately, misguided policy.

Colloquial Language Versus Economic Concepts

Many words carry different meanings depending on context, and often this causes no issue. 

Economist Walter Block illustrates this with the word work. If you hold two heavy jugs of milk with your arms extended, we would say you are doing a great deal of work. In physics, however, no work is being done unless an object moves through space. This discrepancy seldom causes confusion because most people understand that different disciplines use words differently. Economics appears to be more susceptible to confusion, with many making claims about how the economy works while actually relying on, at best, loose metaphors.

This is especially true when discussing production.

When Production Isn’t Production

Suppose that after a rainstorm, you make a literal mud pie. You have produced something in the everyday sense of the word: a tangible object that did not previously exist. But have you engaged in production in the economic sense?

Economic production is not solely defined by effort, creativity, or physical output. It requires the creation of value as demonstrated through voluntary exchange. If no one is willing to purchase your mud pie, then no economic production has taken place. What you engaged in instead was a form of consumption — you enjoyed the activity for its own sake. Either that, or it was merely a failed attempt at production. Any value created was internal to your experience, not reflected in the allocation of scarce resources across society.

This distinction becomes far more important when we move beyond childish examples. Governments are routinely described as producers of goods and services, including roads, schools, healthcare, and national defense. In a colloquial sense, this is understandable. Physical infrastructure is built, employees are hired, and services are rendered.

Economically speaking, however, production cannot be separated from profit and loss accounting. Market production requires prices for inputs and outputs that emerge from voluntary exchange. These prices enable producers to assess whether they are utilizing resources in ways that consumers value more highly than alternative uses.

Government activity is funded through taxation, not voluntary exchange. This means that tax revenue does not accurately reflect the demand for specific services by consumers. Instead, it merely reflects the government’s power to compel payment. Since the state, then, sets its own revenue amount through taxation, it lacks genuine market prices for many of its inputs and outputs. Accordingly, it cannot calculate profit and loss in any economically meaningful sense.

Without profit-and-loss feedback, there is no way to know whether a project creates value or destroys it. From an economic perspective, government provision is therefore better understood as consumption by state agents rather than production — regardless of the intentions behind it or the visible outputs it generates.

When Prices Aren’t Prices

The same linguistic confusion arises with prices. Let us return to the mud pie. Suppose you list it online for $1 million. No one buys it. What is its price?

The answer is not one million dollars. In fact, the mud pie has no price at all.

A price, in the economic sense, exists only when an exchange takes place. Until then, what we observe are merely offers. The sticker price on a shelf is not yet a price; it is a proposal that buyers are free to accept or reject. If no transaction occurs, no price has emerged.

This distinction matters because it undermines the common belief that sellers determine prices. Sellers can propose prices, sure, but they cannot unilaterally create them. If consumers refuse to purchase a good at a given price, sellers must either lower the price, alter the product, or leave the market altogether.

This also helps clarify the relationship between prices and costs. While production costs may influence the prices sellers hope to receive, they do not determine market prices. Prices are governed by consumers’ subjective valuations — by how much value buyers believe they can derive from a good relative to other options.

This is why cost-of-production theories of price fail to explain real-world markets. They ignore the central role of consumer judgment and treat prices as if they were deliberately determined, rather than emerging from exchange.

Why Precision Matters

Confusing offers with prices leads to the mistaken belief that firms exploit consumers by arbitrarily raising prices. Confusing government spending with production leads to the belief that public projects can be evaluated independently of market feedback. In both cases, the underlying error is conceptual rather than empirical.

Economic reasoning depends on disciplined language. When we use economic terms loosely, we smuggle in assumptions that the theory itself does not support. The result is not merely academic confusion but policy proposals built on faulty foundations.

If we want better economic debates — and better economic policies — we must begin by taking economic concepts seriously. Without such precision, sound analysis is impossible.

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Walker Lane Resources Ltd. Completes an Updated Mineral Resource and Plans in 2026 to Advance Exploration Efforts and a Preliminary Economic Assessment in its Silver Hart Project, Yukon, Canada

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TSX-V: WLR
Frankfurt: 6YL

Standards of Disclosure for Mineral Projects and its Companion Policy 43-101CP with an effective date of January 6, 2026.

Walker Lane Resources Ltd. logo (CNW Group/Walker Lane Resources Ltd)

The report was co-authored by Ronacher McKenzie Geosciences Inc. who conducted a site visit in 2025 to verify work completed since the 2021 season that has been reported by WLR which included a drill program in 2022, a minor sampling program on the Silver Hart claims in 2024, completion of a trenching program and minor reconnaissance efforts on the adjoining and acquired Blue Heaven claims in 2024, and reclamation programs on all of the claims in 2023 and 2024.

Subject to financing WLR intends to conduct drilling, socio-economic, environmental and engineering studies and initiate a Preliminary Economic Assessment of the Silver Hart Project in 2026.

The CIM Standards require that an estimated mineral resource must have reasonable prospects for eventual economic extraction. A summary of the SHP mineral resource economic and technical parameters and/or assumptions is presented in Table 1 below. A pit-shell was optimized based on silver equivalent values calculated using the economic parameters in the table.

Table 1: Summary of the Siver Hart Project Economic and Technical Parameters/Assumptions

Item

Units

Extended

Mining cost

CAD$/t all material

10.00

Processing cost

CAD$/t crude feed

25.50

G&A cost

CAD$/t crude feed

5.00

Exchange rate

CAD$ to US$

0.75

Ag price

USD$/oz

23.30

Pb price

US$/metric tonne

1,892

Zn price

US$/metric tonne

2,505

Metallurgical recovery

Percentage

80

Overall pit slope

Degrees

45

Silver Equivalent Calculation:  AgEq g/t = [(Ag ppm x %Rec. x Price/g) + (Pb ppm x %Rec. x Price/g) + (Zn ppm x %Rec. x Price/g)]/ (Ag Price/g x %Rec).
Note: Rec. = metallurgical recovery. AgEq=Silver Equivalent.

Block grade interpolation was performed using the ordinary kriging (OK) technique. The estimated pit constrained mineral resources were classified as Inferred, despite some close drill hole spacing in some zones and the continuity of mineralization as confirmed by variography, mainly because of the lack of substantiated metal recoveries and suspect collar surveys. Table 2 summarizes the update MRE fpr the Silver Hart Project effective as at January 6, 2026.

Table 2: Silver Hart Project – Pit Constrained Mineral Resources at a Cut-off Grade of AgEq>=50 g/t 

Mining Method

Domain

Mass (Tonnes)

Average Value

Material Content

AgEq g/t

Ag g/t

Pb %

Zn %

AgEq

Million oz

Ag Million oz

Pb

Million lb

Zn

Million lb

Open

Pit

TM_Zone

269,000

229.8

152.7

0.56

1.88

1.985

1.319

3.3

11.1

S_Zone

127,000

334.5

262.1

0.36

1.90

1.368

1.072

1.0

5.3

KL_Zone

1,026,000

110.9

35.7

0.11

2.17

3.659

1.178

2.5

49.0

K_Zone

265,000

79.8

14.2

0.09

1.90

0.680

0.121

0.5

11.1

M_Zone

202,000

173.6

98.1

0.58

1.82

1.128

0.637

2.6

8.1

Total

1,889,000

145.2

71.3

0.24

2.03

8.820

4.327

9.9

84.7

Notes:

1.

The effective date of this mineral resource statement is January 6, 2026.

2.

The qualified person responsible for this Mineral Resource Estimate (MRE) is Charley Murahwi, M.Sc., P.Geo., FAusIMM.

3.

The mineral resources have been estimated in accordance with the CIM Best Practice Guidelines (2019) and the CIM Definition Standards (2014)

4.

Ordinary Kriging (OK) interpolation was used with a single block size of 5m x 5m x 5m.

5.

The Economic & Technical parameters/assumptions are summarized in Table 1.1 above.

6.

The mineral resource results are presented in-situ within the optimized pit. Mineralized material outside the pit has not been considered as a part of the current MRE.

7.

The tonnes and metal contents are rounded to reflect that the numbers are an estimate and any discrepancies in the totals are due to the rounding effects.

8.

Mineral resources unlike mineral reserves do not have demonstrated economic viability.

The report also noted that:

  • All the deposits remain open along strike in both directions and down dip, and, in particular, the largest deposit (KL zone). The likelihood of some of the deposits merging (i.e., K to KL, TM main to H and S to M) cannot be ruled out if a program of step out and infill drilling is implemented.
  • The growth potential for the mineral resource is satisfactory as the deposits remain open for expansion in all directions (i.e., strike in both directions and down dip).
  • Prospects for growing the resource via new discoveries appear favorable based on the fact that several known mineral occurrences and anomalies within the Silver Hart and the adjacent Blue Heaven claims remain to be test drilled for resource evaluation.
  • The early initial metallurgical tests completed previously in 1986 and, in 2006, do not have substantiated documentation regarding representativity and location of the samples and, thus, the need for a fresh start is warranted. Nonetheless, the general response of lead, zinc and silver to flotation in those early tests was generally positive.

The NI-43-101 MRE report has been filed on its SEDAR+ profile and will soon be published on the Company’s website at www.walkerlaneresources.com

Kevin Brewer, President and CEO of WLR, commented ‘The MRE is a major milestone in our exploration efforts at Silver Hart. The MRE was estimated at prices much lower than current spot metal prices, which if used in the silver equivalent calculation in the MRE calculation result in an improved silver equivalent grade. You can do the math. As a result, WLR now intends to advance our evaluation of this project to consider a production decision in the short term. Mineralization in all of the zones in the Silver Hart Project start at surface and therefore are expected to be amenable to small scale open pit mining. WLR and its predecessor company CMC Metals Ltd. have been working on this project for 20 years and it is now prepped to take the project to the next stage.’

Next Steps – Highlights of Proposed 2026 Exploration Program and Preparation of a Preliminary Economic Assessment

Walker Lane Resources Ltd. also announced that it is preparing to commence planning for the next stage of its exploration program and evaluation of the Silver Hart Project which will contribute to a potential development decision for the project.

Subject to financing, WLR intends to:

  • Complete 1,500-2,000 meters of exploration drilling to (i) extend the resources on the TM Zone (ii) to conduct infill drilling in the TM Zone with the objective of converting a majority of the inferred resources to indicated resources.
  • Conduct 1,000-1,500 meters of exploratory drilling on known areas of mineralization on the Blue Heaven claims.
  • Metallurgical testing including pre-concentration (ore sorting / dense heavy media separation) assessments.
  • Conduct additional environmental and socio-economic studies to support a possible development application for the project. This is expected to include examining opportunities for partnerships with local First Nations.
  • Initiate a Preliminary Economic Assessment of the project which will include preliminary engineering and a preliminary transportation/logistics analysis.

Qualified Persons

The resource evaluation work was completed by Mr. Charley Murahwi, M.Sc. P.Geo., FAusIMM and Richard Gowans, B.Sc, P.Eng of MICON International Limited. Mr. Murahwi conducted a personal inspection of the Silver Hart Project on August 17-20, 2021. Dr. Gloria Lopez, PhD, P.Geo. of Ronacher-McKenzie Geosciences Inc. was a contributing author and conducted a personal inspection of the Silver Hart Project on September 16, 2025. This information release has also been reviewed and approved by the Qualified Persons.

About Walker Lane Resources Ltd.

Walker Lane Resources Ltd. is a growth-stage exploration company focused on the exploration of high-grade gold, silver and polymetallic deposits in the Walker Lane Gold Trend District in Nevada and the Rancheria Silver District in Yukon/B.C. and other property assets in Yukon. The Company intends to initiate an aggressive exploration program to advance the Tule Canyon (Walker Lane, Nevada) and Amy (Rancheria Silver District, B.C.) projects through drilling programs with the aim of achieving resource definition in the near future.

For more information, please consult the Company’s filings, available at www.sedarplus.ca. Also please feel free to call Kevin at the number below.

ON BEHALF OF THE BOARD OF DIRECTORS

Kevin Brewer
CEO and Director
Walker Lane Resources Ltd.

Cautionary and Forward Looking Statements

This press release and related figures and/or tables, contain certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as forward-looking statements). These statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words ‘anticipate’, ‘plans’, ‘continue’, ‘estimate’, ‘expect’, ‘may’, ‘will’, ‘project’, ‘predict’, ‘potential’, ‘should’, ‘believe’ ‘targeted’, ‘can’, ‘anticipates’, ‘intends’, ‘likely’, ‘should’, ‘could’  or grammatical variations thereof and similar expressions is intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These statements speak only as of the date of this presentation. These forward-looking statements include, but are not limited to, statements concerning: our strategy and priorities including certain statements included in this presentation are forward-looking statements within the meaning of Canadian securities laws, including statements regarding the Tule Canyon, Cambridge, Silver Mountain, and Shamrock Properties in Nevada (USA), and its properties including Silverknife and Amy properties in British Columbia, the  Silver Hart, Blue Heaven and Logjam properties in Yukon all of which now comprise the mineral property assets of WLR. WLR has assumed other assets of CMC Metals Ltd. including common share holdings of North Bay Resources Inc. (OTC-US: NBRI) and all conditions and agreements pertaining to the sale of the Bishop mill gold processing facility and remain subject to the condition of the option of the Silverknife property with Coeur Mining Inc. (TSX:CDE). These forward-looking statements reflect the Company’s current beliefs and are based on information currently available to the Company and assumptions the Company believes are reasonable. The Company has made various assumptions, including, among others, that: the historical information related to the Company’s properties is reliable; the Company’s operations are not disrupted or delayed by unusual geological or technical problems; the Company has the ability to explore the Company’s properties; the Company will be able to raise any necessary additional capital on reasonable terms to execute its business plan; the Company’s current corporate activities will proceed as expected; general business and economic conditions will not change in a material adverse manner; and budgeted costs and expenditures are and will continue to be accurate.

Actual results and developments may differ materially from results and developments discussed in the forward-looking statements as they are subject to a number of significant risks and uncertainties, including: public health threats; fluctuations in metals prices, price of consumed commodities and currency markets; future profitability of mining operations; access to personnel; results of exploration and development activities, accuracy of technical information; risks related to ownership of properties; risks related to mining operations; risks related to mineral resource figures being estimates based on interpretations and assumptions which may result in less mineral production under actual conditions than is currently anticipated; the interpretation of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; changes in operating expenses; changes in general market and industry conditions; changes in legal or regulatory requirements; other risk factors set out in this presentation; and other risk factors set out in the Company’s public disclosure documents. Although the Company has attempted to identify significant risks and uncertainties that could cause actual results to differ materially, there may be other risks that cause results not to be as anticipated, estimated or intended. Certain of these risks and uncertainties are beyond the Company’s control. Consequently, all of the forward-looking statements are qualified by these cautionary statements, and there can be no assurances that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences or benefits to, or effect on, the Company.

The information contained in this presentation is derived from management of the Company and otherwise from publicly available information and does not purport to contain all of the information that an investor may desire to have in evaluating the Company. The information has not been independently verified, may prove to be imprecise, and is subject to material updating, revision and further amendment. While management is not aware of any misstatements regarding any industry data presented herein, no representation or warranty, express or implied, is made or given by or on behalf of the Company as to the accuracy, completeness or fairness of the information or opinions contained in this presentation and no responsibility or liability is accepted by any person for such information or opinions. The forward-looking statements and information in this presentation speak only as of the date of this presentation and the Company assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law. Although the Company believes that the expectations reflected in the forward-looking statements and information are reasonable, there can be no assurance that such expectations will prove to be correct. Because of the risks, uncertainties and assumptions contained herein, prospective investors should not read forward-looking information as guarantees of future performance or results and should not place undue reliance on forward-looking information. Nothing in this presentation is, or should be relied upon as, a promise or representation as to the future. To the extent any forward-looking statement in this presentation constitutes ‘future-oriented financial information’ or ‘financial outlooks’ within the meaning of applicable Canadian securities laws, such information is being provided to demonstrate the anticipated market penetration and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such future-oriented financial information and financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking statements generally, are, without limitation, based on the assumptions and subject to the risks set out above. The Company’s actual financial position and results of operations may differ materially from management’s current expectations and, as a result, the Company’s revenue and expenses. The Company’s financial projections were not prepared with a view toward compliance with published guidelines of International Financial Reporting Standards and have not been examined, reviewed or compiled by the Company’s accountants or auditors. The Company’s financial projections represent management’s estimates as of the dates indicated thereon.

SOURCE Walker Lane Resources Ltd

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2026/21/c0060.html

News Provided by Canada Newswire via QuoteMedia

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Netanyahu agrees to join Trump’s Gaza Board of Peace after initial pushback

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Israeli Prime Minister Benjamin Netanyahu said Wednesday he would join President Donald Trump’s new Board of Peace, after previously criticizing the makeup of its executive committee.

Netanyahu confirmed that he would join the newly established Board of Peace, which the Trump administration says will supervise the next phase of the Gaza peace plan.

The Israeli prime minister’s announcement comes after he initially pushed back on Trump’s proposal, following the inclusion of Turkey’s Foreign Minister Hakan Fidan and Qatari diplomat Ali Al-Thawadi as appointed members to a separate ‘Gaza Executive Board.’

Netanyahu’s office said that move was not coordinated with Israel and ‘runs contrary to its policy.’

The announcement coincides with Trump’s trip to the World Economic Forum meeting in Davos, Switzerland, where he is expected to provide more details about the board. Fox News confirmed that the president is planning to arrange a signing ceremony for the Gaza Board of Peace during his visit.

On Tuesday, when asked if the board should replace the United Nations, Trump said, ‘It might.’

Trump said that the world body ‘hasn’t been very helpful’ and ‘has never lived up to its potential,’ but added that the U.N. should continue to exist ‘because the potential is so great.’

On Jan. 16, the White House said the Board of Peace will play an ‘essential role’ in carrying out all 20 points of the president’s Gaza plan, including providing strategic oversight, mobilizing international resources and ensuring accountability as Gaza transitions from conflict to peace and development.

Dozens of countries have been invited, with notices going out over the weekend, according to officials, including Belarus, China, Ukraine, India, Canada, Argentina, Jordan, Egypt, Hungary, and Vietnam, among others.

Others, including the executive arm of the European Union, confirmed that they have received invitations, but have not responded.

On Monday, Trump confirmed that Russian President Vladimir Putin received an invitation to join the new board.

The Kremlin said Putin had received the invitation and was ‘studying the details,’ adding it will seek clarity on ‘all the nuances’ in communications with the U.S. government.

France also received an invitation, but does not plan to join ‘at this stage,’ according to a French official close to President Emmanuel Macron.

The White House has said Trump will chair the Board of Peace and be joined by senior political, diplomatic and business figures, including Jared Kushner, Secretary of State Marco Rubio, U.S. special envoy Steve Witkoff, and billionaire Marc Rowan.

Fox News Digital’s Landon Mion, Ashley Carnahan, Gillian Turner and The Associated Press contributed to this report.


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Cyprium Metals Limited (ASX: CYM) – Trading Halt

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Trading in the securities of Cyprium Metals Limited (‘CYM’) will be halted at the request of CYM, pending the release of an announcement by CYM.

Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of:

  • the commencement of normal trading on Friday, 23 January 2026; or
  • the release of the announcement to the market.

CYM’s request for a trading halt is attached below for the information of the market.

Issued by
ASX Compliance

Click here for the full ASX Release

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Excellent Results from 2025 Core Drilling Program at McDermitt

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Jindalee Lithium Limited (Jindalee, or the Company; ASX: JLL, OTCQX: JNDAF) is pleased to report assay results from the drilling program at the McDermitt Lithium Project completed late 2025.

  • All holes returned strong lithium and magnesium intercepts from shallow depths, including:
    • R92: 36.5m @ 1951 ppm Li & 5.23% Mg from 24.5m
    • R93: 15.5m @ 1456 ppm Li & 5.45% Mg from 3.6m
    • R94: 66.0m @ 1599 ppm Li & 4.12% Mg from 0.4m
    • R95: 110.6m @ 1519 ppm Li & 4.80% Mg from 23.0m
    • R96: 20.1m @ 1514 ppm Li & 5.29% Mg from 0.4m
  • Three holes twinning earlier RC holes confirmed good correlation with RC results
  • High-quality core samples retained for metallurgical testwork (lithium and magnesium)

Background

On 3 December 2025 Jindalee announced the completion of a large diameter core drilling program at the Company’s 100% owned McDermitt Lithium Project1 (McDermitt, Project), one of the largest lithium deposits in the United States (US) and of global significance2 (Figure 1).

The program comprised five PQ3 (8.5cm diameter) core holes designed to obtain samples for metallurgical testwork to further optimise lithium recoveries, as well as unlock value from the significant magnesium endowment at McDermitt, via the value optimisation program announced late October 20253. The drilling also provided valuable geological and geotechnical data on the deposit, with three of the holes collared to twin reverse circulation (RC) holes drilled in 2021 and 20224.

Discussion

All five holes returned strong lithium and magnesium intercepts from shallow depths as summarised above and in Annexure A. Three holes (R94, R95 and R96) were collared to twin RC holes drilled previously by Jindalee (MDRC-24, MDRC-21 and MDRC-22 respectively), with assays from the recent core holes showing good correlation with the RC results (refer Table 1). Jindalee will now undertake detailed geostatistical analysis to further evaluate the relationship between the results from RC and core drilling to help determine the optimal drilling methods for future programs.

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More High-Grade Gold in Extensional Drilling Points to Growth Potential at Kamperman

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Astral Resources NL (ASX: AAR) (Astral or the Company) is pleased to report assay results received from a 17-hole reverse circulation (RC) drill program for 2,954 metres completed at the Kamperman Deposit, part of its 100%-owned Feysville Gold Project (Feysville), located ~14km south of Kalgoorlie in Western Australia (Figure 1).

HIGHLIGHTS

Feysville Project

  • Assay results received for 17 RC holes (2,954m) drilled recently at Kamperman, part of the 100%-owned Feysville Gold Project in WA. The program tested a variety of targets designed both to increase the Mineral Resource and improve understanding of the deposit, with a specific focus on high-grade zones. Best results include:
    • 14m at 6.79g/t Au from 192m including 2m at 23.8g/t Au from 193m (FRC463)
    • 13m at 6.60g/t Au from 44m including 1m at 57.6g/t Au from 46m and 1m at 10.9g/t Au from 48m, 4m at 2.06g/t Au from 62m and 4m at 3.81g/t Au from 88m (FRC457)
    • 21m at 3.11g/t Au from 115m including 1m at 13.4g/t Au from 132m (FRC460)
    • 15m at 3.70g/t Au from 123m including 1m at 16.4g/t Au from 124m and 1m at 21.1g/t Au from 135m, 6m at 2.79g/t Au from 158m, 23m at 2.57g/t Au from 180m including 3m at 13.7g/t Au from 197m and 3m at 2.57g/t Au from 208m (FRC452)
    • 14m at 2.66g/t Au from 179m (FRC461)
    • 27m at 0.78g/t Au from 21m and 25m at 1.68g/t Au from 50m including 1m at 11.7g/t Au from 59m and 1m at 10.5g/t Au from 62m (FRC453)
    • 6m at 4.10g/t Au from 210m including 1m at 13.4g/t Au from 212m (FRC454)
  • The drill program has confirmed the presence of north-west striking high-grade gold mineralisation that is not currently included in the Kamperman Mineral Resource model, as well as confirming depth extensions to the southern lode and additional high-grade mineralisation in the footwall of the southern lode.
Mandilla Project
  • A 4-hole (1,641m) DD program has been completed on the eastern flank of the Theia deposit, part of the 100%-owned Mandilla Gold Project. The drill program was designed to test for a potential steeply dipping sub-parallel mineralised structure to the east of Theia. Best results include:
    • 4.15m at 33.2g/t Au from 164.3m including 0.5m at 269.6g/t Au from 165m, 12.13m at 1.29g/t Au from 173.87m including 0.3m at 23.4g/t Au from 173.87m and 1.79m at 6.21g/t Au from 253.47m including 0.58m at 17.6g/t Au from 253.82m (AMRCD140)
    • 0.3m at 30.7g/t Au from 336.26m (AMRCD139)
  • Quartz, pyrite and visible gold1 were intersected in each of the four holes, confirming the potential for Theia to host additional mineralised structures.
  • A 3-hole (775.6-m) DD program was also completed at Theia. The program was designed to target a previously intersected “230 Shear” structure. Drilling successfully intersected this distinct, narrow high-grade shear zone with best results including:
    • 1.57m at 22.8g/t Au from 168.59m including 0.6m at 59.2g/t Au from 169.56m, 7.12m at 1.42g/t Au from 175.08m including 0.3m at 25.9g/t Au from 175.51m, 8.73m at 0.95g/t Au from 222.44m and 4.90m at 1.28g/t Au from 259m including 0.3m at 13.7g/t Au from 262.07m (AMRCD137)
    • 2.27m at 4.94g/t Au from 161m including 0.47m at 22.8g/t Au from 161.93m and 5.33m at 1.08g/t Au from 202.85m (AMRCD138)

Astral Resources’ Managing Director Marc Ducler said: “The assay results from the recent RC program at Feysville have demonstrated the excellent potential for both the overall gold grade and the deposit size at Kamperman to increase.

“The program was highly successful in achieving its aims to extend interpreted high-grade gold zones beyond the existing Mineral Resource.

“The centrally located drill-hole, FRC457, returned an outstanding intercept of 13m at 6.60g/t Au, representing a very successful extension to a north-west striking high-grade ore shoot which appears to be projecting beyond the current deposit limits.

“Drill-hole FRC463 also returned a spectacular high-grade intercept. Drilled south and well beyond the current Resource testing for a south-plunging ore zone at depth, drilling successfully intersected 14m at 6.79g/t Au from 192m, to confirm one of our deepest zones of high-grade gold mineralisation so far and providing us with a hint of the greater potential still remaining at Kamperman.

“Over the Christmas period, Astral received notice from the DMPE of the grant of our Mining Licence application over areas of Feysville. This marks an important step as we progress towards submission of the Mining Proposal and execution of a JV agreement with Mineral Mining Services for the development of the Think Big Gold Mine. This would establish an early revenue opportunity for Astral against the backdrop of record gold prices to assist with securing overall development funding for the Mandilla Gold Project.

“Meanwhile at the cornerstone Theia deposit at Mandilla, we received assay results from two diamond drill programs, with further outstanding high-grade intercepts recorded.

“The first, a 3-hole program targeting the “230 Shear”, returned results such as 1.57m at 22.7g/t Au and 2.27m at 4.94g/t Au in separate holes, confirming the presence of this discrete, narrow, high-grade shear zone which strikes through the main Theia deposit.

“Importantly the shear, intersected in all three holes, remains mineralised at depth, with the potential to delineate additional sub-parallel repeats both within and extensional to Theia.

“A second 4-hole diamond drill program tested a potential steeply dipping sub-parallel structure to the east of Theia. As an initial positive sign visible gold was logged in all four holes, with a best result including a very high-grade intersection of 4.15m at 33.2g/t Au from 164.3m in hole AMDRCD137.

“Following our successful capital raise completed in December, Astral has funds on hand to maintain an aggressive exploration focus and complete the Mandilla DFS targeting a Final Investment Decision – all while maintaining a significant component of the equity requirement for development of the Mandilla Gold Project.

“Astral has ramped up exploration activities for 2026 with three drill rigs (2 RC and 1 DD rig) currently operating on site.”

Click here for the full ASX Release

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American Lithium Takes Stake in Golden Triangle Gold Project

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American Lithium Minerals (OTCID:AMLM) announced it has taken a 19 percent stake in privately held Cunningham Mining, giving it exposure to precious metals in BC’s Golden Triangle.

The acquisition gives the explorer an indirect interest in Cunningham’s Nugget Trap placer claims, a 573.7 acre property registered with the BC Mineral Title registry and located within the Skeena Mining Division.

The transaction adds a permitted gold project to American Lithium’s growing property portfolio as it seeks to diversify across gold, lithium, rare earths and other critical minerals.

According to the company, Nugget Trap is authorized for a pay mining program of up to 30,000 cubic yards per year under permits issued by the BC’s Ministry of Mining and Critical Minerals.

A recent independent assay based on a 25 pit test program reported average grades of more than 25.54 grams of gold per cubic meter, along with recoverable silver. The company attributes the mineralization to large gold and copper systems located upstream, including the Mitchell, Sulphurets, Kerr and Snowfield deposits.

Located in Northwestern BC, the Golden Triangle has drawn renewed industry attention amid higher gold prices and expanding infrastructure. The area is home to Seabridge Gold’s (TSX:SEA,NYSE:SA) KSM project, which the company says is one of the world’s largest undeveloped gold deposits by reserves. An updated preliminary feasibility study for KSM outlines proven and probable reserves of 47.3 million ounces of gold and 7.3 billion pounds of copper.

The Nugget Trap interest helps to geographically diversify American Lithium’s asset base, which also includes silver, copper-gold, rare earths and polymetallic projects in Chile, Québec, Yukon and Nevada.

Among those is the Sarcobatus lithium property in Central Nevada, covering roughly 1,780 acres of mining claims.

Alongside the Cunningham deal, the company announced the appointment of Ryan Cunningham as president and CEO of its wholly owned subsidiary, American Mineral Resources.

American Lithium said it continues to pursue financing and additional acquisitions to advance its exploration assets.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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Air Force One turns around shortly after takeoff for Trump’s trip to Switzerland

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Air Force One was forced to return to Joint Base Andrews shortly after takeoff Tuesday evening with President Donald Trump aboard, the White House said.

The crew experienced a ‘minor electrical issue’ after takeoff at 10:20 p.m. and returned ‘out of an abundance of caution,’ according to White House Press Secretary Karoline Leavitt.

Trump was en route to Davos, Switzerland, to attend the World Economic Forum.

Air Force One landed at Joint Base Andrews at 11:07 pm. The president is expected to board a different aircraft and continue on to Switzerland.

Leavitt joked aboard Air Force One that a Qatari jet sounded ‘much better’ at the moment.

The lights in the press cabin briefly went out after takeoff, reporters on board said.

This is a developing story. Please check back for updates.


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Gov Whitmer says America ‘ready for a woman president,’ contrasting Michelle Obama

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Michigan’s Democratic Gov. Gretchen Whitmer said she believes America is ready for a woman president, pushing back on recent comments by former first lady Michelle Obama, who said U.S. voters were not ready to elect a woman to the White House.

In an interview with NPR released on Tuesday, Whitmer said she has ‘love’ for the former first lady and ‘the last thing I want to do is disagree with her,’ but that she has a different perspective.

‘I think America is ready for a woman president,’ Whitmer said. ‘The question comes down to a choice between two people, and what we saw in this last election, while Kamala Harris didn’t beat President Trump, we saw women get elected across the country.’

‘We saw women win up and down the ballot in hard, important states to win, so I do think there’s an appetite,’ she added. ‘I just, for whatever reason, we have not had a woman president yet. I think we will at some point in the near future.’

The governor cited the election victories last year for Democratic Govs. Abigail Spanberger in Virginia and Mikie Sherill in New Jersey, as well as Sen. Elissa Slotkin, D-Mich., in 2024.

In November, Obama said Americans are ‘not ready’ to elect a woman to the White House, pointing to former Vice President Kamala Harris’ election loss to President Donald Trump in the last presidential election.

‘As we saw in this past election, sadly, we ain’t ready,’ the former first lady said at the Brooklyn Academy of Music at the time while promoting her book, ‘The Look.’

‘That’s why I’m like, don’t even look at me about running, because you all are lying. You’re not ready for a woman. You are not … We’ve got a lot of growing up to do, and there’s still, sadly, a lot of men who do not feel like they can be led by a woman, and we saw it,’ she added.

Pressed on whether Harris lost to Trump in the presidential election because she is a woman, Whitmer responded: ‘I don’t think it was just gender, no.’

Whitmer, who is term limited and cannot seek a third term as governor, said she does not currently have plans to run for another office.

She has been floated as a potential presidential candidate in 2028, but the governor said her focus remains on serving Michigan and helping her party’s candidates win the upcoming midterm elections.

Asked about how Democrats could win in the midterms this year, Whitmer pointed to her gubernatorial campaign’s decision to remain ‘focused on the fundamentals.’

‘I don’t think Michigan is unique in that,’ Whitmer said. ‘I think every person in this country wants and expects government to make their lives better, and so that’s been our formula here in Michigan and I think that can be replicated everywhere successfully.’


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Armed militias fire heavy machine guns through Tehran streets in deadly night attacks

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Gunfire echoed through Tehran Tuesday as heavily armed militias were deployed across the Iranian capital, transforming some districts into fortified zones under intense security.

Video footage showed bursts of automatic weapons after dark as government buildings, state media sites and major intersections were reportedly placed under guard, with armored pickups and masked fighters patrolling the streets in Toyotas.

The trucks were mounted with heavy machine guns and were moving in convoys with weapons firing into the darkness as armed men shouted commands.

In the video, large-caliber guns can be heard rattling as vehicles maneuver through urban streets.

‘There has been a deployment of dozens of Toyotas mounted with heavy machine guns (DShK) and other heavy weapons in Tehran,’ Ali Safavi, a senior official with the National Council of Resistance of Iran (NCRI), told Fox News Digital.

‘They are reportedly being used by elements linked to Lebanese Hezbollah and Iraqi Popular Mobilization Forces (PMF),’ he said.

‘Their commander speaks in Farsi, and these fighters are Iraqi Hashd al-Sha’bi, Popular Mobilization Force and Hezbollah fighters who have joined the IRGC. The IRGC are their commanders, and you can hear them shouting in Farsi.’

According to Safavi, the Iranian regime has increasingly relied on foreign proxy forces to maintain control of the capital.

‘The regime has brought in at least 5,000 foreign elements now from Iraq and Hezbollah to control Tehran,’ he explained.

‘They are guarding the government buildings and the state radio and TV and are using heavy machine guns, which are Russian-made and 50 caliber.’

Safavi added that ‘at night, there are fierce clashes that are ongoing as well as running street battles between the protesters and the special unit forces.’

The footage emerged as the Human Rights Activists News Agency (HRANA) reported what it described as Day 24 of nationwide protests marked by a continued communications blackout.

‘The number of confirmed deaths has reached 4,519, while the number of deaths still under investigation stands at 9,049,’ the agency said, adding that at least 5,811 people have been seriously injured and 26,314 arrested.

HRANA reports also described an overwhelming security presence, particularly with law enforcement, the IRGC, Basij units and plainclothes agents after nightfall, creating what the group called an atmosphere of deterrence and fear.

The first protests began Dec. 28 and rapidly spread nationwide, driven by economic grievances and opposition to clerical rule.

Demonstrations have persisted despite mass arrests, lethal force and internet shutdowns.

‘Sometimes the protesters hold their ground to the gunfire, ammunition and volleys of tear gas,’ Safavi said.

He alleged that IRGC units attacked a hospital in Gorgan, killing wounded patients, stationing snipers on rooftops and firing into surrounding areas.

‘They then took around 76 bodies to a warehouse and are refusing to hand them over to families because the forces want to bury them in secret,’ he claimed.

Supreme Leader Ayatollah Ali Khamenei has repeatedly blamed foreign enemies for unrest while backing the IRGC’s response.

President Trump on Tuesday warned Iran that continued assassination threats from leaders in Tehran would trigger overwhelming retaliation.

‘Anything ever happens, we’re going to blow the whole — the whole country’s going to get blown up,’ Trump told NewsNation.

NCRI President-elect Maryam Rajavi rejected the notion that external military action could topple the regime.

‘A foreign war cannot bring down this regime,’ she said in a statement. ‘What is required is an organized nationwide resistance rooted in active, combat-ready forces inside Iran’s cities to defeat one of the most brutal and repressive apparatuses in the world today — the IRGC.’


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