Copper Explorer Expands Skarn System in Sonora, Mexico

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1. Disclosure for the quote from the Stewart Thomson article published on February 17, 2026

1. For the quoted article (published on February 26, 2026), Algo Grande Copper Corp. has paid Street Smart, an affiliate of Streetwise Reports, US$3,500.
2. Author Certification and Compensation: Stewart Thomson was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Thomson is a retired Canadian financial advisor who has passed the Canadian Securities Course as well as additional technical analysis courses that were mandated by his former employer and approved by Ontario regulatory bodies. For the past 15 years, he has been editing and writing numerous financial newsletters that have a strong focus on charts.  The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.

2. 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.

Algo Grande Copper Corp. (ALGR:TSX.V) has provided an update on its Phase II drilling campaign at the wholly owned Adelita Project in Sonora, Mexico, according to an August 11 release.

Hole AG_CG_PH2_002 (Hole 2) has expanded the known copper-mineralized zone to 68.77 meters of visually identified mineralization over a 154-meter span, more than twice the extent reported in the company’s previous update. The company has submitted the first section of core from the hole for assay. Meanwhile, Hole AG_CG_PH2_003 (Hole 3), drilled by a second track-mounted rig targeting the Cerro Grande skarn, has encountered a broad zone of copper sulfide mineralization within garnet skarn and retrograde exoskarn.

Hole 2 has continued to enlarge the copper-bearing footprint beneath Cerro Grande, with the newly logged interval strengthening the evidence for a sizable mineralized system.

Hole 3 intersected copper mineralization over a combined 74 meters, including a notable 32-meter interval toward the lower portion of the hole. The company logged 37 meters of visibly copper-bearing core and said the full interval details are provided in its drilling update. That hole also indicates that mineralization extends vertically through the Cerro Grande system. Its copper-bearing interval sits approximately 105 meters vertically above mineralization encountered in Hole 2 during the company’s initial Phase I campaign, suggesting significant vertical continuity and mineralization extending to depth.

"Hole 2's expanding copper zone and Hole 3's extensive new interval are building a compelling case for scale at Cerro Grande — though we are still early in testing this system," Chief Executive Officer Enrico Gay said. "We expect assays from this drill program to start coming out in the next few weeks, kicking off a steady flow of results from ALS as we move forward."

Both drill rigs remain active as the program advances. Hole 2 has reached 424 meters toward its planned 700-meter depth, while Hole 3 has progressed beyond 239 meters as the company continues testing previously unexplored ground beneath Cerro Grande.

Algo Grande said the first batch of Hole 2 core arrived at the ALS laboratory in Hermosillo on August 7, with assay results expected to begin arriving in the coming weeks.

Dozens of Meters of Visually Copper-Bearing Core Found

According to the release, Hole 2 initially encountered copper more than 100 meters above the anticipated mineralized zone, intersecting two intervals within a 30.23-meter section between 146.70 and 176.93 meters. The mineralization occurs primarily in massive brown garnet-dominant skarn and, for the first time during the current program, within an andesitic porphyry intrusion.

Drilling has since identified a broader second mineralized zone extending 108.2 meters from 192.9 to 301.1 meters. Six separate copper-bearing intervals within that section total 40.4 meters of visually mineralized core, hosted in retrograde exoskarn and containing chalcocite, chalcopyrite, bornite, covellite and chrysocolla. The longest individual interval measures 19.22 meters from 260.25 to 279.47 meters, while molybdenite occurs intermittently, including a 3.06-meter interval.

Together, the two zones give Hole 2 a combined mineralized span of 154.4 meters containing 68.77 meters of visually copper-bearing core, Algo Grande said.

Hole 3 has intersected copper mineralization across a combined 73.91-meter interval between 165.74 and 239.65 meters, including 37.42 meters of visually mineralized core. Management interprets the intersection as a 105-meter vertical step-out above the Hole 2 intersection from the company's Phase I program and views the result as an early indication that mineralization continues vertically through the Cerro Grande system.

The upper mineralized zone spans 42.03 meters and contains six separate copper-bearing intervals totaling 14.86 meters of visually mineralized core. The zone occurs in garnet-dominant skarn with strong prograde alteration, with bornite, chalcocite and covellite, along with trace chalcopyrite, appearing as patches and veinlets, according to the company.

A second mineralized zone extends across 31.88 meters and contains 22.56 meters of visually copper-bearing core. This lower section is hosted mainly in retrograde exoskarn and contains chalcocite, covellite, chalcopyrite, bornite, chrysocolla and minor native copper, while chrysocolla also occurs locally with calcite veinlets.

The company cautioned that the reported observations are based solely on visual core logging and that Hole 3 has not yet produced assay results or established true widths. Drilling remains within copper mineralization at 239.65 meters and continues, indicating that the mineralized system remains open at depth.

'The World Needs More Copper'

¹Algo Grande Copper attracted technical analyst Stewart Thomson’s attention on Feb. 17, when he assigned the company a "Speculative Buy" rating and set short- and long-term price targets of CA$1 and CA$6, respectively.

On April 2, Robert Sinn of Goldfinger said the company had "tier-one technical backing," citing support from Peter Megaw of MAG Silver and Raymond Jannas of ATEX Resources, both of whom have played prominent roles in major exploration initiatives. Sinn also pointed to the high-grade copper discovery, multiple skarn zones, potential for a deeper porphyry system and identified expansion opportunities as factors that could attract investors.

Bob Moriarty examined copper demand on June 16 and highlighted Algo Grande’s potential to help address the market’s supply needs. Moriarty said, "The world needs more copper. A great deal more. Fortunately, Dr. Peter Megaw has been turning up enormous copper deposits across Northern Mexico, with Sonora alone accounting for 80% of the country's copper output . . . Not many realize it, but Peter is largely behind most of what's advanced in Mexican mining over the past three decades. He committed to Mexico back when the rest of the industry steered clear of it, put off by the country's shortsighted and damaging policies."

"The Adelita copper project is his pet venture. It's now wholly held by Algo Grande, a fledgling company that only acquired Adelita about a year ago. The deal they struck was remarkable — essentially an all-stock arrangement to take 100% of the 5,895-hectare property in Southern Sonora, with only a modest cash component," Moriarty wrote.

Moriarty said he had continued monitoring Algo Grande since the acquisition and had developed a favorable view of its prospects. "I'm in love with the story. I had an hour-long call with management a couple of months ago, but held off writing anything until they'd actually launched the pivotal 8,000-meter Phase II work. Phase I offered strong hints of a sizable deposit; Phase II could outline a district-scale copper play. My sense is that most resource investors keep their eyes on gold and silver, both of which have bounced around lately, while copper has quietly climbed to the steepest price ever recorded."

The Catalyst: Smelter Issue Adds to Shortage

Copper prices moved higher Tuesday as an outage at Indonesia’s Gresik smelter added to an already tight supply environment, keeping London Metal Exchange benchmark prices above US$14,000 per tonne for an unprecedented stretch, noted a report by Mining.com on August 11.

September Comex copper reached US$6.7005 per pound, equivalent to US$14,772 per tonne, coming within four-tenths of a cent of the US$6.7045 record established August 5, before retreating to US$6.6360, a 0.3% daily gain. December copper climbed as high as US$6.7980 per pound, while contracts for the second half of 2027 traded above US$7 per pound.

Three-month copper on the LME was little changed at US$14,195.50 per tonne, leaving the Comex premium at roughly US$435. Cash copper had settled US$138 above the three-month contract Monday, marking the largest near-term premium since October and signaling tight physical availability. LME benchmark copper first moved above US$14,000 per tonne earlier this month, while warehouse inventories declined by another 4,675 tonnes Monday to 218,300 tonnes.

Bloomberg reported that customers of Indonesia’s Gresik smelter were notified that the facility would temporarily close for inspections and repairs following a boiler leak on August 8. PT Smelting, jointly owned by Mitsubishi Materials and PT Freeport Indonesia, operates the facility, which processes ore from the Grasberg mine, and Mitsubishi confirmed that operations had been suspended without setting a restart date.

Freeport’s Manyar smelter in East Java remains scheduled to restart in September. Together, the Gresik and Manyar facilities are expected to produce nearly 400,000 tonnes of copper cathode this year, while the Grasberg mine continues recovering from a fatal mudslide last September and is not expected to return to full production until the end of 2027.

Copper's latest rally is unfolding against an uneven global growth environment, making the metal a less dependable indicator of economic conditions, often known as "Dr. Copper," wrote Deena Zaidi for CNBC on August 6.

U.S. copper futures climbed to roughly US$6.90 a pound in intraday trading Thursday before retreating from a fresh record by the end of the session. The metal’s gains reflect more than conventional economic expansion, with tight supplies, substantial investment in electricity grids, uncertainty surrounding U.S. tariffs and growing electrification demand all contributing to the advance.

Copper has traditionally been viewed as a barometer of global economic activity because of its widespread use in construction, electronics, transportation and other industries, including artificial intelligence infrastructure. However, William Osnato, Barchart director of commodity data research and analysis, told CNBC in an email that "The underpinning story of elevated copper prices has been data center and power grid demand to support the rapid AI industry expansion," adding that the resulting increase in consumption is "more acute and not the traditional broad economic growth that supports copper."

Limited mine supply has also become a major factor behind the price increase. Copper mining requires substantial investment, while developing new mines can take about a decade, restricting how quickly producers can respond to stronger demand. Michael Widmer, Bank of America’s head of metals research, told CNBC that the recent advance has been driven less by consumption than by supply constraints.

Ownership and Share Structure²

Algo Grande Copper Corp. has a market cap of CA$27.52 million, with 42.34 million shares outstanding. The company's 52-week range is CA$0.35-CA$1.00. Institutions own 8% of shares, while Management & Insiders own 40%. The remaining 52% of shares are held by Retail. 

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