QGold Reports Grab Samples up to 600 g/t Gold at Mine Centre
Q-Gold reports high-grade grab samples from its Mine Centre deposit as shares consolidate near multi-month lows.
Q-Gold Resources Ltd. announced high-grade grab sample results from its summer 2026 exploration program at the Mine Centre Gold Project in Ontario. Select grab samples returned up to 600 g/t Au, with additional notable intersections including 95.1 g/t Au and 89.8 g/t Au at the Foley Mine area.
The program completed three field rotations between June and August 2026, collecting 222 grab samples and 126 channel samples. Assays have been received for the first two rotations; results for the third rotation (August 13–26, 2026) remain pending.
Management plans to integrate pending channel assays with geological mapping and structural data to rank drill targets for a planned diamond drilling campaign later in 2026. The company aims to expand its inventory of drill-ready targets beyond the five veins previously focused on, targeting strike and dip extensions of known mineralization.
The company reported high-grade grab samples from early-stage vein exploration, noting that these results do not constitute a drill intercept or resource estimate. Instead, the data serves as target ranking information for the upcoming diamond drilling program.
The release aligns with previous expectations and does not alter the company's development timeline or capital requirements. The stock has declined approximately 40% from its April 2026 highs following the Preliminary Economic Assessment (PEA) release, suggesting the market has already priced in the project's economics and is focusing on execution risks and capital needs.
Pending third rotation assays and planned drilling represent incremental steps toward a maiden resource estimate at Mine Centre, though they do not provide immediate catalysts for valuation changes. The update confirms ongoing exploration activity without changing the fundamental risk/reward profile or addressing the company's near-term liquidity constraints.
Q-Gold Resources Ltd. is a Canadian exploration and development company focused on gold and silver projects in North America. Its flagship asset is the Quartz Mountain Gold Project in Lake County, Oregon, USA, which is in the Advanced/Development stage. A completed Preliminary Economic Assessment (PEA) indicates a 14-year mine life, $1.71B NPV(5%), 55.2% IRR, and $1,216/oz AISC at a $3,265/oz gold price.
The company has defined a resource estimate of 1.543 moz Au indicated and 0.148 moz Au inferred at Quartz Mountain, which is amenable to conventional open-pit mining. Secondary projects include the Mine Centre Gold Project in Ontario, Canada, which is in the exploration stage and features historic high-grade production, and the Angel's Camp property in Oregon, also in the exploration stage with high-grade vein targets.
Q-Gold Resources is advancing toward a Feasibility Study and NEPA permitting, with planned drilling and metallurgical test work scheduled for 2026.