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CHF WEEKLY ROUND-UP: March 16 - 20, 2026

It has been a very rough week for global financial markets, including emerging-market equities and currencies, amid a growing threat of hotter inflation and escalating military action in Iran. The three-week-old war has stunned global markets, sent stocks broadly lower and rattled investor confidence across most asset classes. Sentiment for technology stocks was again lower, as investors continued to rotate away from mega-cap U.S.  tech names, questioning whether AI will really deliver. Chipmakers were among the most sold stocks, but sentiment dipped across all investor groups. Many global markets are setting lows for the year. 


The TSX has given up much of its gains for the year and is down 3.4% in the last five days. Late-day buying was seen yesterday as investors started to see value and moved back in, even to the Venture exchange. On Wednesday, the Bank of Canada (BoC) maintained its key interest rate at 2.25%. A rate hold was widely expected by economists, who noted that war-related disruptions to oil and natural gas supplies and other essential commodities would drive up short-term inflation. Predicting the path of the Canadian economy is even more difficult with the duration of the conflict in the Middle East still totally unknown. U.S. Trade Representative Jamieson Greer said on Wednesday that trade talks ahead of the mandatory review of the continental trade pact have Canada lagging behind those with Mexico. The U.S. is having separate talks with Canada as it moves forward with Mexico. 


Each of the three major U.S. indices gave up greater than 1%, to new closing lows for the year, slipping below their 200-Day Moving Averages, a technical signal of a shift in the longer-term to a downward trend. More than 75% of U.S. issues declined on the Wednesday session. The best advice is almost always “hang in there”, but the herd cannot be denied. The U.S. Federal Reserve also made an interest rate announcement on Wednesday. The Fed, as expected, held rates steady for the second consecutive meeting, as it navigates a mix of complicated and conflicting forces playing out in the American economy. Higher inflation is forecast this year amid the surge in oil prices stemming from the conflict in Iran, while Fed Chair Jerome Powell said it was too soon to know the ultimate fallout for the economy. This is expected to be Powell’s next-to-last meeting as Fed chair, so markets were not expecting any moves on rates. Kevin Warsh’s Fed chair nomination has been sent to the Senate for approval, but could be stalled by legal and political obstacles. So, the approval process seems uncertain, as stagflation fears and hopes for lower interest rates collide with slowing growth, a weaker job market, and an immediate inflation concern from the oil price shock of the Iran war. The U.S. dollar has been rising for three weeks and is near a high for the year. The Bank of England (BoE) UK interest rates are at 3.75% again, as the conflict in the Middle East forced the committee to delay its widely expected rate-cutting cycle. 


Gold had fallen to USD$4,575.00/oz and silver to USD$67.68/oz yesterday, posting big losses and hitting six-week lows. Yet in early trading today, prices appear to be finding support with gold opening at USD$4,672.40/oz and silver at USD$71.92/oz. Chinese buyers remain active, especially buying silver. The metals have been hammered as traders worry about the prospects of problematic inflation keeping central banks’ monetary policies tighter, a scenario that would not only support the U.S. dollar but also likely limit consumer and commercial demand for gold and silver. There is too much geopolitical risk today, along with higher global inflation and larger U.S. federal budget deficits ahead. Yet the price of an ounce of gold is down sharply from a recent closing high of USD$5,311.00/oz on Monday, March 2, 2026, two days after the start of the current war in the Middle East. Bullion is being treated as a tradable asset by those who have not seen gold cycles before. It should be seen for what it has always been: a place to store value in times of uncertainty and conflict. This price decline coincides with the escalation of the war and growing concerns that it might not be a short engagement. Gold shares were seen gapping down by 6% – 8 % in a day, as investors pulled cash out to go to Treasuries. Mid- to late-day upticks were seen in gold majors as investors moved back in. Look for re-entry levels. Shares of Gold majors are still at prices double those of a year ago. 


There is so much uncertainty out there, and metals traders are confused as supply and shipping become questionable. Base and industrial metals are setting new lows for the year, with Copper at USD$5.46/lb today and nickel at USD$7.46/lb. Cobalt, Lithium, and Uranium, at least, have held within recent price ranges. We are pleased to present our round-up of client news from March 16 to 20, 2026.


Mining

  

On March 14, 2026, Pirate Gold Corp. (TSXV: YARR) (OTCQB: SICNF) was featured on the Rocks And Stocks News program, hosted by Allan Barry Laboucan as he reviewed their new website and corporate presentation.


On March 16, 2026, Libra Energy Materials Inc. (CSE: LIBR) (OTCQB: LIBRF) (FSE: W0R0) announced the commencement of an auger drilling program at its 100%-owned Penelope Project in Minas Gerais, Brazil. The initial phase will focus on the high-priority Elena and Gaia rare earth element ("REE") targets, where previous sampling returned grades of up to 3,103 ppm total REEs.


This low-cost, high-impact drill program is designed to rapidly assess both the scale and depth potential of REE mineralization across the project. Libra views Penelope as a highly prospective opportunity within a region increasingly recognized for its emerging ionic adsorption clay ("IAC") and hard-rock REE potential. The Company believes the auger program will provide critical early insights into the vertical distribution of REEs within the regolith profile and allow a better understanding of the project's potential value.


Surface sampling has already confirmed the presence of high-grade critical minerals. Historic workings and outcrop sampling at the Gaia Pegmatite returned an anomalous high-grade Niobium (8,780 ppm Nb) and Tantalum (10,900 ppm Ta) sample, while rock chip panels from the Elena Pegmatites averaged 1,555 ppm and 844 ppm total REEs. Shallow reconnaissance soil sampling has also been encouraging, with results up to 517 ppm total REEs and 43 ppm Ga at depths of only 80 centimetres. The auger program, designed for depths of 5 to 20 metres, is seeking enrichment at depth, consistent with current IAC-style REE deposit models.


On March 16, 2026, Rocky Shore Gold Ltd. (CSE: RSG) announced that, through a wholly-owned subsidiary, it has entered into two purchase agreements for the acquisition of additional 128 mining claims in central Newfoundland. Upon completion of these transactions, these properties will enhance Rocky Shore's strategic position in one of Canada's most prospective gold belts.


Ken Lapierre, President and CEO of the Company, commented, "We are thrilled to come to an agreement to purchase a property on trend to both of our intrusion-hosted Mosquito Hill and Reid Gold Deposits, which also hosts a section of the prolific Appleton Fault Corridor located immediately north of our high-grade Lane Pond Gold Target. This is particularly timely as we prepare our inaugural drill program at Lane Pond. Our Gold Anchor Project is a compelling case of multiple gold systems within a single project. Bulk tonnage Intrusion Related Gold Systems (IRGS) and high-grade fault-related gold targets clearly identify this project as a high priority within an emerging gold district in central Newfoundland."


New Property Outline in Yellow Located Adjacent to the Mosquito Hill and Reid Gold Deposits, the Appleton Fault Corridor, and the Lane Pond Gold Target


Under the terms of the first purchase agreement, the Company, through its wholly-owned subsidiary, shall have the right to earn a 100% interest in and to the 58 mining claims, in consideration for the issuance of 750,000 common shares. The vendor shall retain an aggregate 2.0% net smelter return (NSR) royalty. Rocky Shore, through its wholly-owned subsidiary, may repurchase, at any time, 50% of the NSR for $1,000,000 cash, and shall have a Right of First Refusal on the NSR.


Under the terms of the second purchase agreement, Rocky Shore, through its wholly-owned subsidiary, purchased a 100% interest in 70 mining claims in consideration for $45,000 cash and the issuance of 750,000 common shares of Rocky Shore. The vendor shall retain an aggregate 2.0% NSR royalty. Rocky Shore, through its wholly-owned subsidiary, may repurchase, at any time, 50% of the 2.0% NSR for $1,000,000 cash, and shall have a Right of First Refusal on the NSR.


On March 17, 2026, Arya Resources Ltd. (TSXV: RBZ) reported completion of its winter drilling program at the Wedge Lake Gold Project in Saskatchewan's La Ronge Gold Belt. The 2026 winter program consisted of six holes encompassing 1,041 m of drilling at the Twin and T-6 Zones and follows up on the Company's successful 2025 drilling campaign. The Company previously reported sulphide-bearing iron formation at the T-6 Zone, located approximately 1,000 metres west of the Twin Zone, where the Company completed 236 m of drilling in one step-out drill hole.


The 2026 winter drilling at the Twin Zone consisted of 805 m in five drill holes, which covered approximately 381 m of strike length across the zone. Recent drilling intersected multiple intervals of sulphide-bearing iron formation in step-out holes, around drill hole AR 25-09.


"These drill holes indicate that iron formation intersected at the Twin Zone occurs both above and below earlier drilling and extends laterally to the east and west," stated Rasool Mohammad, CEO of Arya Resources.




On March 19, 2026, Athena Gold Corporation (CSE: ATHA) (OTCQB: AHNRF) provided an exploration update from its Excelsior Springs Project in Nevada that is being aggressively explored by Mammoth Minerals Limited.  The option agreement to earn an 80% interest in the Excelsior project over five years provides Athena a free-carry to the Definitive Feasibility Study. Recently, Mammoth reported noteworthy results from its ongoing RC drilling campaign. Athena remains a significant (>5%) shareholder of Mammoth Minerals Limited. 


Multiple significant new assay results have been received from the current RC drilling program along the 7 km-long Buster Trend. Hole MEXRC2617: 33.54 m @ 1.25 g/t Au from surface, including: 9.15 m @ 3.18 g/t Au from 18.29 m; and 3.05 m @ 7.70 g/t Au from 51.83 m.



With drills actively turning at Moosehead following recent high-grade results and a new zone discovery, the Company is now advancing a second front at Crippleback.


Crippleback is a distinct geological setting defined by a large, intensely altered zone identified through mapping, drilling, and geophysical surveys, alongside a significant concentration of gold, copper, and molybdenum surface mineralization, supporting the potential for a gold-copper porphyry-style system.


Denis Laviolette, Executive Chairman & CEO, commented: "With drilling underway at Moosehead delivering high-grade results, we're now stepping into the next phase of the story at Crippleback. What stands out here is the scale and intensity of alteration across the system. Situated along the same structural corridor as Equinox Gold's Valentine deposit, this is exactly the type of setting where large gold systems can develop. Our focus now is to connect the dots between high-grade veins and the broader system driving them."




 The Company believes this dual-track approach, combining high-grade vein expansion at Moosehead with drilling at Crippleback, significantly enhances the discovery potential across the 78,600-hectare, 92-km strike-length Treasure Island Project. On March 20, 2026, Pirate Gold Treasure Hunters Season 1 Episode 7 - Treasure in the Depths was released.


Episode 7 follows the next phase of the 2026 exploration campaign as the Company expands beyond Moosehead and begins drilling at Crippleback.


The episode features:

  • The expansion from high-grade drilling at Moosehead into system-scale targeting at the Crippleback Target, marking the next step in unlocking the Treasure Island system

  • Field mapping and geological observations highlighting a large, intensely altered zone with associated gold, copper, and molybdenum

  • Initial drilling at Crippleback is designed to assess the source of the alteration system and better understand controls on mineralization

  • Ongoing drilling at Moosehead is continuing to define and expand high-grade vein-hosted gold mineralization

  • The evolving geological model across Treasure Island, linking high-grade veins to a potentially larger underlying mineralizing system

 

On March 20, 2026, a new technical presentation by Pirate Gold VP Exploration Greg Matheson that outlines the geological model and multi-deposit potential at Crippleback was also released.



Pirate Gold has just launched a brand-new website and investor deck, charting the full Treasure Island story from our district-scale land position to the latest exploration work unfolding along Newfoundland’s gold-rich Valentine Lake Fault. Visit the New Website.


 
 
 

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