High-Grade Gold Intercepts Returned from Spanish Mountain Gold's Feasibility Study Drilling

Deep News07-06 21:03

Spanish Mountain Gold Ltd. has released new assay results from its feasibility study drilling program at the Spanish Mountain gold project in British Columbia. The drilling intersected high-grade gold mineralization in multiple holes, further confirming the scale and potential of the deposit.

The results announced are from several drill holes within the feasibility study program. Hole SM-26-421 returned an average grade of 0.74 grams per tonne gold over 69.20 meters, while hole SM-26-424 averaged 0.70 grams per tonne gold over 77.85 meters. These intercepts are located within the main zone of the deposit and show good continuity with historical drilling results. They will be incorporated into the resource update and mine plan optimization for the feasibility study.

The company's Chief Executive Officer stated that these drilling results are crucial for advancing the feasibility study for the Spanish Mountain project. The team is pleased with the continuous mineralization and consistent grades observed in the area, and this data will support the project's final design and technical-economic evaluation.

The Spanish Mountain gold project is one of Canada's largest undeveloped gold projects, hosting over 7 million ounces of gold resources. It is situated in central British Columbia with good infrastructure, including proximity to roads and power. The company initiated the feasibility study in 2025, with plans to complete all work within 18 months.

Further results from this drilling program are expected to be released in the coming weeks. The company indicated that the current drilling data supports the technical feasibility of project development, and the feasibility study is anticipated for completion in early 2027. Concurrently, the company is advancing environmental assessment and community consultation work to lay the groundwork for subsequent permitting and project construction. As the drilling program continues and subsequent analysis unfolds, the market will maintain its focus on the project's latest developments.

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