Surface Metals (OTCQB:SURMF) is positioned to access a rare opportunity amid gold price highs, says CEO Steve Hanson.
“The economics of every ounce we discover at our Cimarron Gold Project improve dramatically as gold continues to appreciate,” Hanson says.
Trading Economics reports the gold price at US$4,000 ($6,109) as of 2.30pm AEDT on 31 October 2025.
“With this historic strength in the gold market, we are advancing exploration at precisely the right time,” he adds.
“Gold is reaffirming its place as the ultimate store of value.”
Surface is currently reviewing targets ahead of upcoming drilling at the Cimarron Gold Project.
Located in the Walker Lane trend in Nevada, Cimarron hosts a resource of 50,000 ounces of contained gold. The company intends to potentially expand the estimate through future exploration campaigns.
Surface acquired a 90% stake in the project in April 2025.
As reported by Mining.com.au, the company is currently raising C$800,000 to cover exploration costs at Cimarron, as well as maintenance and development costs for the Clayton and Fish Lake Valley lithium projects.
“The global transition to electric mobility and energy storage continues to drive long-term lithium demand,” Hanson says.
“Our Clayton Valley project benefits from its strategic location within a proven lithium district and close proximity to end users.”
Spanning 2,230 acres also in Nevada, Clayton Valley hosts an inferred resource of 302,900 tonnes of lithium carbonate equivalent.
Surface Metals is also listed on the Canadian Securities Exchange with the ticker code ‘SUR’. It is a gold and lithium explorer focused on acquiring and developing projects in North America.
Write to Maddison Elliott at Mining.com.au
Images: Surface Metals
