Darwin Green

Nevada's Greatest Silver Bonanza, Finally Consolidated — and Ready to Drill With Modern Equipment

• Top takeaway Darwin Green presents Mackay Gold & Silver's consolidation of Nevada's Comstock district as a rare chance to control an entire historic gold-silver system, with a 20,000-meter drill program targeting shallow oxides on the Occidental and deeper bonanza-style veins below the level the 1800s miners reached.
• He argues the Occidental sits higher in the epithermal system — gold:silver ratio of about 5:1 versus 20:1 on the main lode, plus more calcite and anastomosing veins — so the bonanza portion of the Comstock blueprint should in theory sit a couple hundred meters below surface there.
• He lays out a timeline of first results in late August/early September 2026, steady news flow every few weeks thereafter, potential expansion to multiple rigs, and a maiden resource within roughly 18 months, with 1-2 million ounces framed as a 12-month oxide target rather than the end game.
• He says the $60 million raise means Mackay should not need to return to market until the stock is around $5, giving 2-3 years of runway to drill, follow up, and keep buying ground and buying down royalties without dilution.
• On why the district sat idle, he points to the fixed gold price, pre-1872 fragmented claim ownership, bimodal bonanza-or-waste grades, and pre-drilling-era technology, and he commits to an end-game valuation north of $1 billion by de-risking for major acquirers.

MacKay Gold & Silver has consolidated most of Nevada's historic Comstock district, giving it a fully funded 20,000-metre drill program starting on the parallel Occidental-Brunswick structure. Higher calcite and a lower gold-to-silver ratio suggest the Occidental sits near the top of the epithermal system (one formed by hot mineral-rich fluids near surface), leaving untested bonanza-grade potential at depth. Shallow oxide drilling has already returned 25 metres at 13.5 grams per tonne gold; management targets outlining one to two million ounces within a year, with first assays around late summer. A USD$60 million financing at $1.40 delivered roughly two to three years of exploration runway, largely royalty-free ground, and a veteran expert panel that could not identify a fatal flaw.

Darwin Green & Jeff Clark discuss Onyx Gold at the May Metals Investor Forum

Onyx Gold Corp is advancing district-scale gold exploration in two premier Canadian mining jurisdictions: Timmins, Ontario and the Yukon Territory. The company's portfolio is anchored by the high-grade Munro-Croesus Property and the recent Argus North discovery in the historic Timmins Gold Camp. Strategic Yukon land position includes the King Tut Property, located near Snowline Gold's Valley discovery and Fireweed Metals' MacPass Project.

#97 Digging for Dollars #25 What Majors Clearly Look For When They’re Shopping

• Top takeaway Green's stated playbook: consolidate fragmented land next to something big and high grade — the Comstock now, Onyx before it — then pay up on conviction in the geology.
• He says Mackay's roughly $62 million US treasury buys three years of control of its own destiny, with no dependence on drilling a killer hole in the first three months to refinance.
• He lays out Mackay's plan: test the parallel Occidental vein at depth for bonanza mineralization in a preserved, shallower epithermal level, and grow a near-surface Nevada oxide gold target he sizes at 1 to 2 million ounces within 12-18 months.
• On Onyx, he argues the team is on something very real and expects a standout valuation within a year or two after about 30 property deals grew the package from 4 to over 100 square kilometres.
• Judging the pitch segment, he digs into Cartier pending proof of mineable ounces, gives a thumbs-up to the Sudbury VMS listing despite calling those deposits historically grade-challenged, and backs the Alaska VMS newcomer on the strength of its CEO.

Recent junior takeovers share one trait: district-scale ground beside infrastructure the buyer already operates. Agnico Eagle's roughly $3 billion Rupert Resources deal consolidates its Finnish gold belt in one move. Districts beat lone assets — Eldorado's $4 billion Foran buy adds a century-long camp, not just one mine. Darwin Green says Mackay's Nevada ground could target 1-2 million ounces of shallow oxide gold within 18 months. Fragmented claims kept Comstock undeveloped for a century; Darwin Green says consolidation was the real barrier.