Drilling Set To Begin at Majuba Hill Amid Copper Shortfall and Record Prices

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Giant Mining Corp. (CSE: BFG; OTC:BFGFF; FWB:YW5) has announced the commencement of final site preparations ahead of its March 2025 drill program at the Majuba Hill Porphyry Copper Deposit in Pershing County, Nevada. Mobilization efforts are set to begin next week, including road and drill pad preparation by Legarza Exploration, LLC, while Big Sky Exploration, LLC is expected to begin diamond core drilling on or around March 24, 2025.

The upcoming drill program follows Giant Mining's 2024 campaign, which delivered the company's best results to date. "Gold is nearing an all-time high of USD $3,000 per ounce, and copper has just hit a 2025 high of US $4.93 per pound under threat of tariffs and looming copper shortfalls. With drilling now less than two weeks out, we are excited to see final site preparations about to get underway," said David Greenway, CEO of Giant Mining, in the press release. "The company is fully funded for an active year of exploration and development drilling to add to over 100 drill holes and over 80,000 feet of past drilling in order to work towards a NI 43-101 mineral resource estimate for the project."

The 2025 drill program will consist of four planned core drill holes, totaling 4,400 feet (1,340 meters). A minimum of 2,600 feet will be completed, with flexibility built into the program to allow drilling to extend up to 1,600 feet per hole if mineralization is encountered. The company has selected the LF90D surface diamond coring drill, which features a telescopic dump mast for adaptability to site conditions and a total depth capacity of up to 3,915 feet (1,193 meters).

The Core Program will focus on the Southern Breccia Corridor, targeting high-grade mineralized breccia intersected in previous core holes, MHB-30 and MHB-31. Drilling will extend deeper into the breccia structures and below historic underground workings to assess expansion potential. The Majuba Hill property spans 9,684 acres and is located approximately 70 miles southwest of Winnemucca, Nevada. The project benefits from existing infrastructure, including road access, power, and water, which provide cost advantages over more remote exploration sites.

Copper Sector: Supply Constraints and Strategic Expansion

Copper companies have continued to ramp up production while embracing sustainability initiatives and technological innovations to address supply pressures. According to a February 4 report from John Newell, early-stage exploration in base metals, including copper, showed signs of a market rebound. "The early-stage exploration market — particularly in gold, silver, and base metals — appears poised for a breakout," Newell wrote, citing technical indicators suggesting increased investor interest in junior mining stocks.

In a February 19 article, EY reported that copper market deficits were expected to worsen beyond 2025 due to limited new production. Exploration budgets reached US$3.2 billion in 2024, their highest level since 2013. However, major discoveries remained scarce, with just 4.2 metric tons of copper found across four significant deposits since 2019. "Despite increased investments, the sector continues to grapple with a decline in major discoveries," the report stated. Sustainability initiatives also remained a focus, with mining companies investing in desalination and water-saving technologies to mitigate environmental impacts. EY also highlighted Argentina's new policies aimed at incentivizing investment, as well as a looming decision in the U.S. on the Resolution Copper project, which could become North America's largest copper mine.

"This is, therefore, considered to be an excellent time to buy Giant Mining or add to positions in it," Technical Analyst Clive Maund said.

In a March 3 article, the Financial Times reported that global copper smelters were under pressure as China expanded its smelting capacity, now accounting for approximately half of the global market.

Analysts at RBC highlighted that Chinese smelters had driven processing fees to historic lows. Duncan Hobbs, an analyst at Concord Resources, remarked, "Smelter margins are being squeezed," while Albert Mackenzie from Fastmarkets stated, "They [fees] are the lowest they've been in living memory." Glencore cited "increasingly challenging market conditions" as the reason for suspending operations at its Pasar smelter in the Philippines.

Also, on March 3, USA Today referenced a JP Morgan report predicting a refined copper deficit of 160,000 metric tons by 2026. The report projected copper prices to average US$11,000 per metric ton that year. JP Morgan warned that a potential 10% tariff on refined copper imports, with the possibility of a 25% rate, posed a significant risk, stating, "This remains the greatest downside risk to our forecasted tightening in copper markets."

Mining.com, reporting on March 13, noted that Citigroup forecasted that LME copper prices could reach US$10,000 per tonne within three months as the global market remained tight. "We think ex-US physical market tightening is likely to persist through May/June, temporarily offsetting price headwinds from broader US tariff announcements," Citi analysts wrote. They also pointed to a 24% month-over-month decline in Chile's copper production in January, which marked a nine-month low. Morgan Stanley added that U.S. tariff discussions had accelerated copper shipments into the country, further tightening supply in other regions.

Advancing Exploration at Majuba Hill: Giant Mining Targets Resource Expansion in Nevada

Giant Mining Corp. is advancing exploration at Majuba Hill with the goal of delineating a NI 43-101 mineral resource estimate. The company has outlined a multi-phase drilling strategy to expand known mineralization and assess the depth potential of the copper-silver-gold system. Historical drilling at the site has totaled 83,930 feet, with an estimated development cost of USD $10.4 million.

According to Giant Mining's February 2025 investor presentation, the project is well-positioned within Nevada, which is recognized as the top mining jurisdiction globally by the Fraser Institute. The company is targeting the expanding demand for copper, driven by the electric vehicle and renewable energy industries. Industry forecasts project copper demand will continue to rise, further enhancing the strategic importance of the Majuba Hill project.

In addition to exploration, Giant Mining's fully funded 2025 drilling campaign strengthens its position for potential resource expansion and development. The flexibility built into the drill program allows for extended drilling in mineralized zones, increasing the potential for new discoveries. With key infrastructure in place and past drilling results supporting the presence of a large copper-silver-gold system, the upcoming program at Majuba Hill represents a significant milestone for the company.

Technical Analysis Signals a Breakout for Giant Mining Corp.

According to Technical Analyst Clive Maund's March 5 report, Giant Mining Corp. was positioned for a significant breakout, completing a Cup & Handle base pattern. Maund described the company's bullish volume pattern as a key indicator of investor recognition that Giant Mining was "turning the corner" and advancing toward sustained growth. He noted that the company's positioning as a domestic U.S. copper producer stood to benefit from increasing tariff barriers, which could enhance its strategic importance.

Maund highlighted that the stock's price had consolidated within the Handle formation, a phase that typically precedes an upward breakout into a new bull market. He observed that Giant Mining's 200-day moving average had flattened and converged with the current price levels, which he considered an auspicious signal for the next upward movement. "Another upleg from here will quickly result in a bullish cross of the moving averages that will 'officially' mark the start of an important new bull market," Maund stated.

From a long-term perspective, Maund emphasized that Giant Mining's current valuation represented a compelling opportunity. He pointed out that the stock had experienced a significant decline from over CA$4.00 in early 2023 and had traded as high as CA$140 in 2021 before adjusting for rollbacks. Given these factors, he concluded, "This is, therefore, considered to be an excellent time to buy Giant Mining or add to positions in it."

Ownership and Share Structure

According to Giant Mining Corp., approximately 14.8% of its shares are held by insiders. The remaining shares are held by retail investors. 

Giant Mining Corp. has a market capitalization of approximately CA$22.57 million.

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.