Highlights
Highlight intercepts at South Mercur include: 2.8 g/T gold over 74 meters width at 91 meters downhole in RMC25-031; including 8.0 g/T gold over 12 meters width at 130 meters downhole; 1.1 g/T gold over 84 meters width at 14 meters downhole in RMC25-032 and 1.0 g/T gold over 82 meters width at 13 meters downhole in RMC25-033.
High grade intercept in RMC25-031 is one of three known ore shoots at South Mercur that are prospective for future exploration at depth.
Encountered mineralized waste rock from historical in pit backfill not in the current resources: 0.5 g/T gold over 38 meters width starting at surface in
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Mercur Drilling Details
The 2025 drilling program at Mercur finished in December with 115 RC and core holes completed. With the final 11 drill holes herein, all results have now been released.
Carlin-style gold deposits are known for hosting high-grade shoots where ore-controlling structures intersect favorable stratigraphic horizons. Historical underground mining at Mercur exploited such shoots in the late 1800's and early 1900's. Although most of
The 2025 core holes were primarily drilled for metallurgical sampling, but some were extended below the 2025 PEA design pits to test the interpreted structural controls of the system. The 8.04 g/T intercept in RMC25-031 is located just below the design pit and confirms the location of one of these key structures which is an example of the high-grade exploration potential at depth that exists within the 7,200-hectare Mercur project.
Data collected from drilling in 2025 and 2026 will support the Company's planned Pre-Feasibility Study targeted for release in Q1 2027, a major milestone on the path to restarting gold production at Mercur.
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Cautionary Statement
This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation and 'forward-looking statements' within the meaning of the
Forward-looking statements and information involve significant known and unknown risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results expressed or implied by such forward-looking statements or information, including, but not limited to: the Company's ability to finance the development of its mineral properties; uncertainty as to whether there will ever be production at the Company's mineral exploration and development properties; risks related to the Company's ability to commence production at the projects and generate material revenues or obtain adequate financing for its planned exploration and development activities; uncertainties relating to the assumptions underlying resource and reserve estimates; mining and development risks, including risks related to infrastructure, accidents, equipment breakdowns, labour disputes, bad weather, non-compliance with environmental and permit requirements or other unanticipated difficulties with or interruptions in development, construction or production; the geology, grade and continuity of the Company's mineral deposits; the uncertainties involving success of exploration, development and mining activities; permitting timelines; government regulation of mining operations; environmental risks; unanticipated reclamation expenses; prices for energy inputs, labour, materials, supplies and services; uncertainties involved in the interpretation of drilling results and geological tests and the estimation of reserves and resources; unexpected cost increases in estimated capital and operating costs; the need to obtain permits and government approvals; material adverse changes, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to other risks and uncertainties disclosed in the Company's public filings with Canadian securities regulators, including its most recent annual information form and management's discussion and analysis, available at www.sedarplus.ca. The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
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