Spanish Mountain Gold Ltd. has released the latest assay results from its 2026 feasibility study drilling program at the Cariboo gold belt project in British Columbia. To date, approximately 18,500 meters of drilling have been completed, with this report covering assays from 10 drill holes, numbered 26-DH-1381 through 26-DH-1390. Results from an additional 16 drill holes are still pending.
Where to Begin
This drilling program has achieved significant progress in expanding mineralization. Notably, drill hole 26-DH-1390 intersected 252.30 meters grading 0.82 grams per tonne gold starting at 75.50 meters. This interval includes a high-grade zone of 93.50 meters averaging 1.32 grams per tonne gold, along with a higher-grade section of 5.2 meters at 3.23 grams per tonne gold. Additionally, a lower-grade interval of 106.9 meters grading 0.55 grams per tonne gold was encountered at 220.9 meters.
Furthermore, drill hole 26-DH-1381 returned 346.7 meters grading 0.36 grams per tonne gold from 23.2 meters. These latest results continue the strong mineralization trends observed in previous drill holes.
Reasons for Focusing on These 10 Holes
Earlier drilling results had already demonstrated mineralization continuity across multiple structural zones within the Orca fault corridor, with notable near-surface, high-grade mineralization. The company initiated this feasibility study in the second quarter of 2026 and expects to complete it by early 2028. The study is currently supported by the first tranche of $22.5 million from a $55 million royalty transaction with Wheaton Precious Metals, received in May, which is sufficient to fund the project through to a construction decision.
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