Auro Metals Hits 625 Meters of Gold-Copper at Santa Barbara

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Gold and copper investors should note that Auro Metals Inc. (AURO:TSXV; AURFF:OTCPK) reported assay results from three drill holes at its Santa Barbara South zone, part of the 100%-owned Santa Barbara gold-copper project in Ecuador's Zamora-Chinchipe province.

Key Takeaways

• Auro Metals reported assay results from three drill holes at its Santa Barbara South zone, part of the 100%-owned Santa Barbara gold-copper project in Ecuador's Zamora-Chinchipe province.
• Drill hole DSB-59 intersected 625.12 meters (m) grading 0.64 g/t gold and 0.10% copper, a gold grade roughly 23% higher than the inferred resource grade from the project's mineral resource estimate.
• Holes DSB-57 and DSB-58 returned 59 m at 0.67 g/t Au and 130 m at 0.60 g/t Au, respectively, with both confirming mineralization remains open toward surface in the updip direction.
• Sixteen holes have now been completed under the 2026 phase I drill program, with assay results received for six and 10 more pending as four rigs continue drilling on site.

New Assay Results Highlight Project Scale

On July 13, 2026, Auro Metals released updated drill results from three holes drilled at the Santa Barbara South zone, part of the company's 100%-owned Santa Barbara gold-copper project in the Zamora-Chinchipe province of southeastern Ecuador. The company is focused on testing the continuity of mineralization between historical drill intercepts and the extension of mineralization in the updip and downdip directions of the porphyry system.

Victor Feng, CEO of Auro Metals Inc., stated in the release: "This second batch of drill assay results from our Phase 1 drill program at Santa Barbara South continue to highlight the scale and consistency of the project. DSB-59 intersected 625 meters of continuous gold-copper mineralization starting from near surface and ending in mineralization at depth. The gold grade from this hole is roughly 23 percent higher than the gold grade of the inferred resource from our mineral resource estimate. DSB-57 and DSB-58 both confirm that mineralization remains open in the updip direction toward surface. To date, geochemical analysis of six holes has been completed, 10 holes are pending assays, and the four rigs on site continue turning. We look forward to sharing assay results when they become available."

Sixteen holes have now been completed as part of the 2026 Phase 1 drill program, with assay results received for the first six holes. Drill hole DSB-59 intersected 625.12 m grading 0.64 g/t gold and 0.10% copper, ending in mineralized porphyritic diorite due to drilling difficulties. Drill hole DSB-58 intersected 130 m grading 0.60 g/t gold and 0.09% copper, while drill hole DSB-57 returned 59 m grading 0.67 g/t gold and 0.10% copper from surface, along with an additional 37.5 m grading 0.5 g/t gold and 0.10% copper at depth.

All three holes intersected wide mineralization, demonstrating good consistency of gold-copper grades. According to the press release, the results "demonstrate that mineralization is open in both updip and downdip directions." Hole DSB-59 is considered particularly significant, as it confirms that the porphyritic diorite intrusion is also mineralized, though the full extent remains unknown since the hole was terminated early.

Formerly known as Tincorp Metals Inc., Auro Metals Inc. is an exploration company that worked with Silvercorp to acquire Santa Barbara Metals Inc., which holds a 100% interest in the Santa Barbara Gold-Copper Project and the Zamora Copper-Gold Belt in southeastern Ecuador. The company also owns 100% of the Porvenir Project and will acquire a 100% interest in the nearby SF Project in Bolivia.

Gold and Copper Weathering Geopolitical Storm

Junior miners and exploration companies hit the ground running this year after gold rallied at a high of US$5,500 per ounce in January. Many companies chose to begin exploration or production amid these highs. While prices have since fallen, and even dipped below US$4,000 in June, rates are still up 24% compared to July 2025, and Gold.org wrote that: "[T]he stage is set for a possible breakout. On the upside, clear catalysts — a worsening economy or renewed geopolitical shock, a shift towards lower interest-rate expectations, or a wave of dip buying — could reignite gold’s momentum and lift it back towards US$4,500/oz or above."

Despite a slight rise in gold prices at the end of last week due to positive U.S. home sale data, rates have dipped again due to the ongoing U.S.-Iran War. Inflationary fears were reignited after Brent crude oil prices rose again after a several-week ceasefire between the two countries lost its stability. According to a July 13, 2026, report by Kitco Newswire, "The Strait of Hormuz situation is best characterized as open transit under active military contest, not a stable shipping environment and not a fully verified closure." At the time of writing, Kitco listed gold prices down to US$4,011.70 per ounce.

In April, S&P Global wrote, "Gold is expected to remain volatile but structurally supported, with central bank demand and geopolitical risk helping to establish a price floor above recent correction lows."

Despite the volatility of gold, the sector as a whole is only showing signs of improvement. On May 7, 2026, Brian Taylor of Recycling Today said that the World Bank Group has predicted that overall global metals prices will rise by 17% in 2026, which would mark the first overall market increase since 2022.

Demand for copper is expected to rise due to continued use in electronics, especially with the widespread construction of new data centers and defense needs America is experiencing. A report from Businessworld claimed that "global copper demand is gradually shifting towards strategic and less price-sensitive sectors such as AI infrastructure, defense, power grids, and clean energy systems. By 2040, these categories are expected to account for nearly 45% of total copper demand, up from 32% in 2024."

Copper has experienced some volatility this year. While a bull market for traders, physical products are trending toward a bear market due to potential tariffs. Last year, the looming potential of President Donald Trump's tariffs surged copper prices in the U.S. as American investors stockpiled the metal.

This hype created an overstocking of copper, widening the gap between futures and physical worth. "Collectively, inventories at the world's main exchanges have risen by more than 500,000 tons since the start of the year," stated a March 6 article by Bloomberg News. The imagined certainty of inaccessible copper due to tariffs evaporated, however, when premiums for U.S. copper futures disappeared, and the tariffs did not materialize. Trump may choose to impose tariffs next year, but analysts and investors are skeptical since his administration chose to forego them in January 2026.

Shares Hit CA$2.00 After News Release

On July 16, 2026, Chen Lin of What is Chen Buying? What is Chen Selling? wrote about the company, saying: "AURO.v hit a spectacular drill hole, 625m 0.64 g/t gold and 0.1% copper. The hole ended in mineralization due to drilling difficulties. These kinds of holes will add resources quickly. The stock hit CA$2.00 on the news; it is still cheap as it has 131 million shares outstanding."

What's Next for the Program?

According to Auro's investor presentation, upcoming company catalysts include the continuation of the Phase 1 drill program in Q2 of 2026, with further results anticipated to be released as soon as possible.

Ownership & Share Information¹

Auro Metals Inc. has a market cap of CA$193.89 million, with 131 million shares outstanding. The company's 52-week range is CA$0.14-CA$2.25. Institutions own 0.02% of shares, while Strategic Investors own 27.3%. Management & Insiders own 15.74% of shares, and the remaining 56.94% of shares are held by Retail.

Frequently Asked Questions

Q: What is a porphyry copper-gold deposit?
A: A porphyry copper-gold deposit is a large mineral system that contains gold, copper, and other metals spread throughout a broad volume of rock. Although the grades are often moderate, porphyry deposits can become major long-life mines because of their size.

Q: What does "open mineralization" mean?
A: Open mineralization means geologists have not yet found the limits of a mineral deposit. If mineralization remains open toward the surface (updip) or at depth (downdip), additional drilling could expand the known resource.

Q: What is an inferred mineral resource?
A: An inferred mineral resource is an early-stage estimate of the amount and grade of minerals in a deposit based on available drilling and geological evidence. More drilling is usually required before the resource can be upgraded to a higher-confidence category.

Q: What is a drill assay in mining?
A: A drill assay is a laboratory analysis that measures the concentration of metals, such as gold and copper, in rock samples collected during drilling. Drill assay results help companies evaluate the size, grade, and continuity of a mineral deposit.

Q: What is a drill intercept?
A: A drill intercept is the section of mineralized rock encountered by a drill hole. The length of the intercept and its metal grades help geologists assess the potential size and quality of a mineral deposit.