Drill Program Reveals Copper Breakthrough at Majuba Hill

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Giant Mining Corp. (CSE: BFG; OTC:BFGFF; FWB:YW5) announced  that it has completed sampling of drill core from hole MHB-32, the first hole in its 2025 diamond core drilling program at the Majuba Hill Copper-Silver-Gold Deposit in Pershing County, Nevada. The 889.5-foot (271.1-meter) hole was drilled as part of a five-hole program and has now been submitted to ALS Global Services for assay. The core was logged, sawn, and sampled by company personnel in Elko, Nevada, before being delivered to ALS's prep facility, with final analysis to be conducted in Vancouver.

Preliminary examination of MHB-32 revealed copper-bearing, magmatic-hydrothermal breccias containing secondary copper minerals such as azurite, malachite, and chalcocite. These minerals transitioned deeper in the hole to strongly oxidized copper sulfides, including chalcopyrite, and eventually to unoxidized, primary chalcopyrite at the bottom. The hole was terminated earlier than planned due to logistical difficulties.

The drilling program aligns with broader national objectives to strengthen domestic mineral supply chains. On March 20, U.S. President Donald J. Trump signed an Executive Order promoting increased American mineral production. According to Giant Mining CEO David Greenway in the company's announcement, "Gold has hit a recent high above US$3,500 for the first time in history, and Copper is above US$4.80 per pound. Never has there been a more significant mandate to bring resource production back into domestic jurisdictions, and Majuba Hill has reached a critical moment in its development."

E.L. "Buster" Hunsaker, Senior Consulting Geologist for Giant Mining, commented that "preliminary observation of the core from MHB-32 is encouraging," noting that the hole is expected to define and extend copper mineralized breccia zones based on alteration patterns observed in previous drilling. "We anticipate that MHB-32 will confirm deeper extensions of the copper system at Majuba Hill and look forward to receiving the assays," Hunsaker said.

Giant Mining plans to provide further updates as results become available. The current program builds on over 100 previous drill holes and more than 80,000 feet of historical drilling at Majuba Hill, which has also seen historic production totaling 2.8 million pounds of copper, 184,000 ounces of silver, and 5,800 ounces of gold.

Copper Market Balances Geopolitical Risk and Demand Shifts

Copper prices experienced notable volatility in recent weeks, reflecting shifting global trade dynamics, currency fluctuations, and evolving demand patterns. On April 22, Mining.com reported that copper prices had reached a two-week high, supported by a decline in the U.S. dollar. The softer dollar, which dropped to a 15-month low according to a Bloomberg index, made commodities more attractive for international buyers. Copper traded on the London Metal Exchange (LME) rose as much as 1.6 percent, reaching US$9,305 per tonne, while COMEX copper for May delivery climbed to US$4.834 per pound. However, the report also emphasized that metals remained under pressure from "global trade uncertainty sparked by US President Donald Trump's sweeping import tariffs."

At the SMM Copper Conference held on April 23, Jianhua Ye, Director of Big Data at SMM, provided a comprehensive macroeconomic and industry outlook. He identified multiple pressures on the copper sector, including geopolitical conflict, tariff uncertainty, and sluggish manufacturing performance in major economies. Ye explained that "the copper/gold ratio declined, reflecting strong market risk aversion sentiment." He also cited structural tightness in global copper concentrate supplies, noting that the "shortage of copper concentrates has intensified" and that near-term improvements in the supply-demand balance were unlikely.

SMM's analysis indicated that China's imports of copper cathode from traditional suppliers such as Chile and Peru had decreased, while imports from Africa expanded. Ye anticipated that "domestic copper cathode inventories are expected to decrease rapidly," driven by this shift. He also addressed end-user demand, highlighting divergence among sectors. While construction remained in a negative growth trend, energy infrastructure investments from China's State Grid Corporation — expected to exceed 650 billion yuan in 2025 — suggested continued support for copper consumption in renewable power and electrification efforts.

Ye added that "copper consumption in the construction sector" was expected to fall by nearly 2% year over year in 2025. Nevertheless, medium and long-term fundamentals tied to new energy and EV adoption were projected to remain supportive. He also noted that the impact of newly imposed reciprocal US tariffs caused a temporary surge in COMEX copper prices in the first quarter. However, as the trade tensions escalated and economic expectations dimmed, copper prices saw downward pressure during the second quarter. SMM concluded that "as the negative sentiment from the trade war subsides," copper prices may stabilize in the second half of the year, though pressures from a potential surplus could linger.

According to Finimize on April 29, copper continued its upward trend as prices hit US$9,458.50 per tonne on the LME, fueled by strong Chinese demand, restocking efforts ahead of the country's Labor Day break, and a strengthening yuan. Finimize noted that this restocking drive, coupled with global supply constraints, helped tighten regional supplies and raised premiums. The Yangshan copper premium, a key indicator of Chinese import appetite, reached US$93 per tonne, the highest level since December 2023. Additionally, a premium of US$30 per tonne between LME cash and three-month contracts reflected availability issues, particularly in Asia. Finimize further reported that "US tariff speculations boosted copper stocks by 40% at COMEX warehouses," shifting more copper inventory toward the US market and maintaining elevated global premiums.

Technical Analyst Sees Bullish Setup for Giant Mining Corp.

In a March 5 analysis, Technical Analyst Clive Maund presented a favorable view of Giant Mining Corp., citing both chart patterns and external market dynamics. He identified what he described as a "big Cup & Handle base pattern," calling it a classic setup that often precedes upward price movement. Maund also noted an increase in trading volume on the right side of the pattern, stating that this development indicated "the company is turning the corner."

Maund pointed to the stock's moving averages, stating that "another upleg from here will quickly result in a bullish cross of the moving averages," which he believed could signal the beginning of "an important new bull market."

In addition to technical factors, Maund referenced the broader policy environment, including U.S. tariff proposals on copper imports. He observed that "the growing awareness that the tariff barriers will make domestic producers of copper like Giant Mining . . . more important" was starting to influence market sentiment positively.

Maund also reviewed historical trading data, noting that Giant Mining shares had previously reached much higher levels. "As recently as early 2023, it was trading at over CA$4.00, and if you go back further, you will find that it was trading as high as CA$140 early in 2021," he wrote, suggesting that the current price range may represent "an excellent time to buy Giant Mining or add to positions in it."

Upcoming Developments and Strategic Advantages

As outlined in Giant's investor presentation, Majuba Hill's ongoing development is strategically positioned to support the rising global demand for copper driven by electric vehicles (EVs), renewable energy infrastructure, and net-zero initiatives. Each EV requires roughly 183 pounds of copper, a significantly higher amount than traditional combustion vehicles, contributing to a projected copper demand of over 1.7 million tonnes for EVs alone by 2027. Giant Mining's property in Nevada benefits from proximity to key mining hubs in Winnemucca, Elko, and Reno, as well as access to essential infrastructure such as electric power lines, roadways, and water supplies.

The 2025 drill campaign aims to complete at least 2,600 feet (792 meters) of the planned 4,400 feet (1,340 meters) of core drilling, with no set maximum footage. Four of the planned holes are designed to expand on the 2024 drilling results, while a fifth will target the Southern Resistivity Anomaly identified through ExploreTech's AI geophysical analysis.

Giant Mining's leadership team includes resource sector veterans and experienced geological advisors, positioning the company to continue advancing its NI 43-101-compliant resource objectives. With a fully diluted share count of 115,945,962 as of March 25, 2025, and a reported market capitalization of CA$28,157,038 based on an April 1 share price of CA$0.40, the company is actively engaged in exploration to define and enhance the resource base at Majuba Hill in response to increasing domestic and global demand for critical minerals.

Ownership and Share Structure

According to Giant Mining Corp., approximately 15.1% of its shares are held by insiders. The remaining shares are held by retail investors.  

As of April 29, Giant Mining Corp. has a market capitalization of approximately CA$21.22 million, based on a closing share price of CA$0.23.

The company's shares are traded on the Canadian Securities Exchange (CSE) under the ticker BFG, on the Deutsche Boerse AG (DB) under the ticker YW5, and on the OTC Pink Sheets in the U.S. under the ticker BFGFF, with these listings active since December 2017.