en.Wedoany.com Reported - Auro Metals Inc. (AURO:TSXV; AURFF:OTCPK) has announced assay results from the first three drill holes of its 2026 Phase 1 drilling program at the Santa Barbara Gold-Copper Project in Zamora-Chinchipe Province, Ecuador. Since the program commenced on April 14, 2026, a total of 12 drill holes have been completed, with results from the remaining nine holes pending.
The latest assay results show that all three drill holes intersected mineralization. Drill hole DSB-54 intersected 705.7 meters from surface grading 0.61 g/t gold and 0.1% copper, including a 235-meter section from surface grading 0.97 g/t gold and 0.11% copper; the hole was fully mineralized and ended in mineralization. Drill hole DSB-55 intersected 246 meters from surface grading 0.56 g/t gold and 0.09% copper, including a 155.5-meter section starting at 31.5 meters grading 0.73 g/t gold and 0.11% copper. Drill hole DSB-56 intersected 134 meters from surface grading 0.67 g/t gold and 0.09% copper, and a 24-meter section starting at 164.5 meters grading 0.89 g/t gold and 0.07% copper.
Auro CEO Victor Feng stated that the first three drill holes of the Phase 1 drilling program in southern Santa Barbara demonstrate the scale and continuity of the project. DSB-54 returned over 700 meters of continuous gold-copper mineralization from surface and ended in mineralization at depth. Both DSB-55 and DSB-56 confirm that mineralization remains open up-dip to surface. With nine drill holes still awaiting assay results and four rigs operating on site, the company plans to transition to a Phase 2 drilling program following the completion of Phase 1 to continue expanding the known mineralized system and test new nearby targets.
Auro Metals Inc. (formerly Tincorp Metals Inc.) is an exploration company that partnered 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 holds a 100% interest in the Porvenir Project and will acquire a 100% interest in the SF Project near Bolivia.
Earlier this year, gold prices surged to historic highs, breaking through $5,000 per ounce in January. Prices have since declined slowly, but many expect the rally to resume once international conflicts subside. In April, S&P Global wrote that gold is expected to remain volatile but structurally supported, with central bank demand and geopolitical risks helping to establish a price floor above recent correction lows. On June 24, 2026, gold prices plummeted below $4,000 per ounce, falling 3.19% from the previous day to $3,978.80 per ounce. Some experts attributed this to a strengthening U.S. dollar following rising inflation, with the U.S. Dollar Index hitting a 52-week high near 101.71.
Despite gold volatility, the overall industry shows signs of improvement. On May 7, 2026, Brian Taylor of Recycling Today stated that the World Bank Group forecasts a 17% overall increase in global metal prices in 2026, marking the first overall market increase since 2022. Copper demand is expected to rise due to its continued use in electronics, particularly with widespread construction of new data centers and defense needs in the United States. A report from Businessworld indicated that global copper demand is gradually shifting toward strategic and less price-sensitive sectors, such as artificial intelligence 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 prices have experienced some volatility this year. While it has been a bull market for traders, physical products have trended bearish due to potential tariffs. Last year, the potential threat of tariffs from U.S. President Trump caused U.S. copper prices to surge as American investors hoarded the metal. This speculation led to a copper inventory glut, widening the gap between futures and physical values. Since the beginning of the year, total inventories at major global exchanges have increased by more than 500,000 tonnes. A March 6 article from Bloomberg News stated that with the disappearance of the U.S. copper futures premium and tariffs not implemented, the imagined certainty that copper was inaccessible due to tariffs vanished. Trump may choose to impose tariffs next year, but analysts and investors are skeptical, as his administration abandoned tariffs in January 2026.
On June 23, 2026, Chen Lin of What is Chen Buying? What is Chen Selling? commented on the latest drilling results, stating that AURO's drill hole scale is similar to that of Arras Minerals Corp. (ARK:TSX.V; ARRKF:OTCMKTS). AURO already holds 4.3 million ounces of gold resources and is at a more advanced stage, yet its market capitalization is lower than ARK's.
According to Auro's investor presentation, upcoming company catalysts include the continuation of the Phase 1 drilling program in Q2 2026, with further results expected to be released as soon as possible.
Auro Metals Inc. has a market capitalization of C$164.93 million and 130.89 million shares outstanding. The company's 52-week range is C$0.14 to C$1.53. Institutional ownership stands at 0.02%, strategic investors at 27.30%, management and insiders at 15.74%, and the remaining 56.94% of shares are held by retail investors.
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