Copper Explorer Hits High-Grade Copper Near Surface in Mexico

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2. As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Algo Grande Copper Corp.
3. Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. 
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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 reported its first assay results from Phase II diamond drilling at the Cerro Grande skarn discovery within its Adelita project in Sonora, Mexico, according to a September 11 release.

Hole AG-CG-PH2-002 intersected 30.23 meters grading 1.5% copper equivalent (CuEq) from 146.70 meters, including a 3.55-meter section grading 9.4% CuEq and a 1.2-meter interval grading 15.8% CuEq. The results confirm that the high-grade, multilevel skarn mineralization identified during Phase I continues into a shallower portion of the system.

"This is the result we were drilling for — high-grade copper 100 meters closer to surface than anything we intersected in the first campaign: 30.23 meters at 1.5% copper equivalent, including a 1.2-meter interval at 15.8% copper equivalent, in garnet skarn carrying bornite, chalcopyrite and abundant chalcocite," said Algo Grande Vice President of Exploration Joao Rocha, EurGeol.

He continued, "Finding grade of this tenor well above the phase I intercepts adds a new, shallower zone to Cerro Grande and materially expands the mineralized footprint we are now targeting. The hole also pinned the base of the prospective limestone package on this section, which sharpens our targeting and, with plenty more ground still to test and assays pending both in this hole and in the following holes, we believe we have only begun to define the scale of this system."

The Phase II program is designed to systematically extend Cerro Grande along a 2.5-kilometer magnetic trend identified by a recent drone survey. AG-CG-PH2-002 has reached a final depth of 661.80 meters, with assays still outstanding below 179 meters, while adjacent hole AG-CG-PH2-003 was drilled along strike and also awaits results. Rocha said the company believes the available drilling has only started to reveal the system's potential scale.

The latest intersection extends the high-grade, multi-horizon nature of Cerro Grande about 100 meters above mineralization encountered during Phase I, which included 36.00 meters grading more than 1.0% copper and a 14.79-meter interval grading 1.4% copper within a broader mineralized zone. AG-CG-PH2-002 was drilled within the established Cerro Grande footprint near several historical holes and targeted mineralization above and below their previously tested depths.

The 146.70-to-176.93-meter interval occurs about 100 meters above mineralization encountered in AG-GC-002 during the first campaign, indicating that significant grades extend closer to surface than previously recognized and occur within garnet-rich skarn containing abundant chalcocite. Mineralization remains open toward the northwest and southeast and at depth, although true widths have not yet been established and the current intersection cannot be directly compared on a meter-for-meter basis with individual historical holes, the release noted.

Phase II Holes Push Cerro Grande Deeper and Wider

Hole AG-CG-PH2-002, collared at the summit of Cerro Grande at an 80-degree dip, reached 661.80 meters, short of its 700-meter target. It hit copper mineralization about 100 meters shallower than expected, in a brown, garnet- and pyroxene-rich skarn, the company said. Drilling passed through skarn, hornfels, and limestone to about 312 meters before entering fresh, largely barren granodiorite, and the company stopped the hole once it had exited the prospective limestone.

The skarn holds mainly garnet and pyroxene with bornite, chalcopyrite, and abundant chalcocite, an assemblage the company believes could signal proximity to the core of the hydrothermal system or a major fluid pathway. Mineralized contacts may grow less distinct deeper in the hole as drilling nears the source.

Three more Phase II holes have advanced along the magnetic corridor, with assays pending. AG-CG-PH2-003 was extended from a 450-meter target to 800 meters after continued limestone and skarn. Visual logging found copper minerals, including covellite, bornite, chalcocite, chalcopyrite, native copper, and chrysocolla, from about 165.70 to 287.50 meters, weaker mineralization between 323 and 592 meters, and a magnetite-rich skarn zone from 624.45 to 634.50 meters containing chalcopyrite, covellite, and bornite. In all, 137.46 meters of core logged as mineralized extends the known footprint more than 250 meters west of the Phase I AG-GC-002 intersection and has prompted work on possible northwest-southeast structures that could control additional skarn bodies.

AG-CG-PH2-004 ended at 411.15 meters after cutting a broad mineralized section from about 94.00 to 192.30 meters, with several copper minerals in garnet skarn and hornfels. A second zone below 258 meters carried up to 50% magnetite and an estimated 1% copper sulfides through roughly 332 meters, resembling the deeper zone in AG-CG-PH2-003. The hole holds 83.49 meters of visually mineralized core. AG-CG-PH2-005, planned to 650 meters and logged to 299.75 meters, shows several mineralized intervals between about 112.50 and 298.75 meters, totaling 76 meters of visually mineralized core.

The company cautions that these estimates rest solely on visual core observations, not assays, so actual grades could differ materially. Sampling and lab work continue, and the company has no declared mineral resource or reserve at Adelita; drill intersections alone do not establish economic viability.

Major Drilling Group International Inc. is running the Phase II campaign, which aims to expand Cerro Grande while testing other targets across the wider Adelita property, including first drilling at Cerro Potrero South and Las Trancas. Cerro Grande is planned for about 7,200 meters across 15 holes, averaging roughly 450 meters and reaching as deep as 700 meters. More assays are expected as the company receives and verifies them.

Two Rigs Turning as Algo Grande Expands Its Raise

Algo Grande continues exploration at Adelita with two drill rigs operating at the Cerro Grande target as part of its Phase 2 program. The work follows an update that identified broader copper mineralization in holes 2 and 3, while the first batch of core samples reached ALS's Hermosillo laboratory on August 7, with assays expected in the following weeks.

To support the expanded exploration effort, Algo Grande closed a non-brokered private placement on September 1, raising gross proceeds of CA$4,786,498 through the sale of 7,977,497 common shares at CA$0.60 each. The offering was upsized from its original target of up to CA$3 million after closing oversubscribed. The company intends to use the financing primarily for ongoing Adelita exploration, while also allocating funds to operating costs and general working capital.

Algo Grande CEO Enrico Gay said, "In under a year, we have gone from a data package to a fully staffed team on the ground, advancing Adelita across exploration, infrastructure and community relationships," adding, "The results to date in our phase 2 drill program give us confidence to expand our exploration program and continue advancing the project with momentum."

The financing included CA$73,998 in participation from insiders, making those investments related-party transactions under MI 61-101, the Canadian securities framework governing transactions involving minority shareholder protections. Algo Grande relied on available exemptions from the formal valuation and minority shareholder approval requirements under the regulation.

In an August 11 update, Algo Grande reported that Phase II drilling was steadily widening the copper footprint beneath Cerro Grande, with visual logging in both Hole 2 and Hole 3 extending the mineralized system. Mineralization appeared for the first time in the program within an andesitic porphyry intrusion alongside the garnet skarn, and Hole 3 cut copper roughly 105 meters vertically above a zone intersected in Hole 2 during Phase I, an early sign of vertical continuity through Cerro Grande and that the system runs deeper.

Newsletter Writers See District-Scale Upside at Adelita

The first assays from Algo Grande's Phase II drilling campaign at Adelita have now started arriving, although the surge in gold and silver prices has increased laboratory workloads and slowed turnaround times, according to Bob Moriarty of 321gold.com on September 14.

Moriarty commented on AG-CG-PH2-002, the first reported hole from the Phase II campaign, which returned 30.23 meters grading 1.5% copper equivalent in skarn, with the intersection occurring about 100 meters higher in the system than anticipated. Within that zone, a 3.55-meter high-grade section averaged 5.26% copper, 311.8 grams per tonne (g/t) silver, and 2.22 g/t gold. The project sits in a major Mexican copper-producing region, with Sonora accounting for roughly 80% of the country's copper output.

Moriarty highlighted Algo Grande's association with Dr. Peter Megaw, a specialist in northern Mexican deposits, while explaining that the Adelita mineralization appears consistent with a skarn system formed when mineral-bearing hydrothermal fluids interacted with limestone. Such deposits can occur near porphyry systems, and previous drilling at Adelita has already indicated the possible presence of a nearby porphyry. While porphyries can produce very broad, lower-grade mineralized zones, skarns generally deliver shorter but substantially higher-grade copper intersections.

The latest result, combined with Phase I drilling and work completed by the previous operator, leads the author to view Adelita as having potential at a district scale, Moriarty said. Only the first 179 meters of AG-CG-PH2-002 has been reported so far. The hole ultimately reached 661.8 meters before drilling stopped after encountering fresh, essentially unmineralized granodiorite, leaving another 482.8 meters of the hole yet to receive reported assays. Holes AG-CG-PH2-003 through AG-CG-PH2-005 have been advanced, with Hole AG-CG-PH2-004 terminated at 411.15 meters and Holes AG-CG-PH2-003 and AG-CG-PH2-005 still ongoing. Assays for all three are pending.

The author remained highly bullish on the company and said he believes additional assays could have a significant effect on the share price.

"I have believed since I was first informed about the company that they had the potential for a giant discovery," the author wrote, adding that the results to date have reinforced the view that Algo Grande remains substantially undervalued.

"I'm in love with the story," Moriarty wrote of Algo Grande in a June 16 piece on Streetwise Reports, after an hour-long call with management. He framed the copper backdrop bluntly — "The world needs more copper. A great deal more."

On April 2, Robert Sinn of Goldfinger described the company as having "tier-one technical backing," pointing to the involvement of Peter Megaw of MAG Silver and Raymond Jannas of ATEX Resources, both of whom have been involved in significant exploration programs. Sinn also highlighted Algo Grande's high-grade copper discovery, several skarn zones, the possibility of a deeper porphyry system, and opportunities to expand the project as attributes that could draw investor interest.

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

The Catalyst: Copper's Record Run Meets a Widening Deficit

Copper climbed to a record high on the London Metal Exchange as a weeks-long rally gathered momentum amid expectations that the Trump administration could broaden U.S. tariffs to cover refined copper imports, according to a Bloomberg report published on Yahoo! Finance on September 7. Three-month LME futures rose as much as 0.8% to US$14,533 per tonne, surpassing the previous record established in January.

Copper has gained 17% over the past year as structural supply constraints collide with rising consumption. Aging large-scale mines are struggling to meet demand from data centers, renewable power projects, and electricity networks, reinforcing the long-term bullish case for the metal.

Short-term market dynamics have also become increasingly important. Traders have moved hundreds of thousands of tonnes of copper into the U.S. this year to capitalize on elevated domestic prices, while the market continues to account for the possibility of tariffs on primary copper imports. That uncertainty persists roughly two months after the U.S. Commerce Department was expected to deliver a report to the White House assessing whether such tariffs were warranted.

Although worldwide copper inventories remain relatively substantial, much of the available material is now concentrated in the U.S. Inventories held across the LME's international warehouse system have fallen, tightening nearby supply, increasing pressure on short sellers, and helping propel prices higher despite relatively subdued demand.

Copper demand is on track to outrun supply by a wide margin over the next 15 years, a January 8 study from S&P Global found. The firm projects global copper demand will climb roughly 50% to about 42 million metric tons by 2040, while supply falls short by some 10 million metric tons — about a quarter below what the world will need.

Much of that acceleration comes from newer sources of demand that barely registered a decade ago. S&P Global expects installed data-center capacity to reach about 550 gigawatts by 2040, more than five times the 2022 level, as the AI buildout gathers pace. Together with rising defense spending, data centers are projected to triple copper consumption in those categories by 2040, adding roughly 4 million metric tons of new demand on their own.

The study sees global power demand growing nearly 50% by 2040, requiring the world to add generating capacity the firm likens to about 330 Hoover Dams — every bit of it wired with copper. S&P Global's Carlos Pascual described the metal as the "connective artery" linking physical machinery and digital intelligence, capturing why AI, electrification, and grid expansion are converging on the same raw material.

Ownership and Share Structure²

The company's market cap was CA$40.25 million on September 14. It has 42.34 million shares outstanding, with a 52-week range of CA$0.35 to CA$1.00. Institutions own 10.9% of shares, while management and insiders own 33.4%. The remainder is held by retail investors.

Common Investor Questions

What did Algo Grande announce? The company reported its first Phase II drill assays from the Cerro Grande copper discovery at its Adelita project in Sonora, Mexico. Hole AG-CG-PH2-002 cut 30.23 meters grading 1.5% copper equivalent, including 3.55 meters at 9.4% and a 1.2-meter interval at 15.8%.

Why do the results matter? The high-grade mineralization came in about 100 meters shallower than the company's Phase I intercepts, adding a new near-surface zone and expanding the footprint the company is now targeting. Shallower high-grade material can improve a project's economics.

What is Cerro Grande? It is a copper skarn discovery within the wider Adelita property, being drilled along a 2.5-kilometer magnetic trend identified by a drone survey. The mineralization sits in garnet-rich skarn and remains open to the northwest, southeast, and at depth.

What about the other Phase II holes? Holes AG-CG-PH2-003 through 005 have been advanced, with Hole 004 terminated and Holes 003 and 005 still ongoing. All three contain visually mineralized sections, but assays are pending. The company stresses that those intervals rest on visual core logging only, so actual grades could differ materially, and Adelita has no declared resource or reserve.

What do commentators say? Bob Moriarty of 321gold sees district-scale potential and "the potential for a giant discovery," calling the company substantially undervalued. Robert Sinn cited its "tier-one technical backing," and technical analyst Stewart Thomson assigned a "Speculative Buy" with short- and long-term targets of CA$1 and CA$6.

Why is copper in focus? Copper hit a record US$14,533 a tonne on the LME in early September amid U.S. tariff speculation and tight supply, and S&P Global projects a 10-million-tonne supply shortfall by 2040 as AI data centers, electrification, and defense drive demand.