Michael Dehn

The Next Big Discovery | Michael Dehn - Total Metals

• Top takeaway Dehn reports very high-grade drill intercepts at the Total Metals project, citing 30% zinc in areas and over 3% copper in a few spots.
• He notes the copper sits in a zone of its own in the hanging wall of the zinc zone, so drill holes hit copper first before reaching the zinc.
• He argues the copper zone may be one of the targets geophysics did not pick up.
• He says additional grassroots exploration results from other holes were expected to be released later in the month or early July, as of 2026-07-02.
• He contends the drilling shows continuity in the main guts of a pinch-and-swell-style zone and says he is very happy with the results.

Guest Michael Dehn reports high-grade drill cores at Total Metals' project, with 30% zinc in areas and over 3% copper in spots. Copper sits in its own zone in the hanging wall — the rock above the zinc zone — so drill holes hit copper first. Dehn says the copper may be a target geophysics missed, with grassroots (early-stage) exploration results due around early July. The zone is a pinch-and-swell system — it thickens and thins — but Dehn reports continuity through the main parts and nice grades.

Hidden Gold Potential | Michael Dehn - Total Metals

• Top takeaway Dehn singles out the Minari property as the one he is most on edge about, citing multi-thousand gram grab samples and multi-hundred gram drill hole and channel sample intersections as of the interview.
• He says a sampling/exploration program was just completed, and that more high-grade results from it would help vector into new areas of the property.
• He argues the properties are well set up operationally, with several gold mills nearby, road access to all properties, and electricity available at every property.

Multi-thousand-gram grab samples (surface rock samples) make Minari the project the guest says he bites his fingernails over. Results from the just-completed program could vector (point toward) new areas on the property if they repeat earlier grades. Nearby gold mills, road access to all properties, and electricity at each site give the projects strong infrastructure.

Gold's Pullback, a Hidden Debt Crisis, and the K-Shaped Economy | Michael Dehn - Total Metals

• Top takeaway Dehn argues political gamesmanship, particularly from the US, is distorting commodity prices more than fundamentals, and he does not think the world yet believes a federal-debt-driven economic collapse is coming.
• He sees a K-shaped economy behind the gold bid: people with money have more than two years ago and keep buying gold and hard assets, while households scraping by on rent, mortgages and food stay on the sidelines.
• He says he is very happy with the Electroload drill results — up to about 30% zinc and over 3% copper showing continuity in the main zone — and sees the separate copper zone as a target geophysics may have missed.
• He claims his edge in Red Lake is decades of pre-internet knowledge, such as Noranda's old work at Electroload, and says he has usually acted as a project generator rather than an operator.
• Over the next 12 months he wants bigger permits for more drilling at High Lake, a partnership with First Nations including a chiefs meeting on July 7, 2026 with a promise to hire local workers, and Minari results he calls the ones to bite your fingernails over.

Political brinksmanship adds noise to commodity prices, the guest argues, and tariffs hit many commodities while sparing gold. Wealthier investors keep adding gold and hard assets while stretched households sit out, a K-shaped divide now shaping commodity demand. Total Metals' Electro drilling cut high-grade mineralization — up to 30% zinc and over 3% copper — with copper in its own hanging-wall zone. The Pick Lake critical minerals project, bought for just over $2 million, carries a $13 million analyst valuation and near-20% zinc grades. Next 12 months: larger permits at High Lake, First Nations engagement starting July 7, and compiling West Hawk Lake's century-old exploration data.