Northwire Canada EditionTuesday, September 22, 2026
Northwire
GOLD 4369.70 −0.3% SILVER 66.26 −0.2% COPPER 6.87 +1.5% OIL 90.77 −1.7% PALLADIUM 1319.00 +0.2% NTH 0.165 +0.0% REE 0.035 +0.0% AZT 0.370 +0.0% KLDC 0.375 −1.3% SML 0.040 +0.0% SRC 1.70 −2.3% MGG 0.325 +3.2% HMR 0.590 −1.7% VCG 1.40 +0.0% KNG 1.15 +3.6% MINE 0.130 +0.0% AEF 0.160 +0.0% MTT 0.270 +0.0% CTGO 26.50 −0.6% RIO 3.62 +0.7% BEA 0.055 +0.0% GOLD 4369.70 −0.3% SILVER 66.26 −0.2% COPPER 6.87 +1.5% OIL 90.77 −1.7% PALLADIUM 1319.00 +0.2% NTH 0.165 +0.0% REE 0.035 +0.0% AZT 0.370 +0.0% KLDC 0.375 −1.3% SML 0.040 +0.0% SRC 1.70 −2.3% MGG 0.325 +3.2% HMR 0.590 −1.7% VCG 1.40 +0.0% KNG 1.15 +3.6% MINE 0.130 +0.0% AEF 0.160 +0.0% MTT 0.270 +0.0% CTGO 26.50 −0.6% RIO 3.62 +0.7% BEA 0.055 +0.0%
Drill Results Routine −

Stakeholder Confirms Bedrock Gold Across Multiple Large-Scale Targets at Ballarat, Unlocking Significant New Potential in the Heart of the White Gold District

Stakeholder reports 0.2-1.2 g/t gold grades across claimed widths at its project, though specific dimensions remain undisclosed.

Executive Summary

Stakeholder Gold Corp. (SRC) released assay results from nine diamond drill holes (BA2602-BA2610) totaling 1,530 m, representing the gold portion of the 2026 Ballarat program. The drilling tested beneath four gold-in-soil anomalies: Skye North, Skye South, East, and Northwest. Gold was intersected in seven of the nine holes at a 0.2 g/t Au cut-off.

Key reported intercepts include:

  • BA2604 (Skye North): 6 m @ 0.32 g/t Au (4-10 m), including 1 m @ 1.20 g/t
  • BA2604 (Skye North): 4 m @ 0.23 g/t Au (48-52 m)
  • BA2603 (Skye North): 1 m @ 1.03 g/t (36-37 m); 1 m @ 0.45 g/t (16-17 m); 1 m @ 0.50 g/t (106-107 m); 5 m @ 0.24 g/t (55-60 m)
  • BA2607 (East): 1 m @ 0.92 g/t (135-136 m); 2 m @ 0.26 g/t (41-43 m); 1 m @ 0.23 g/t (30-31 m)
  • BA2608 (NW): 2 m @ 0.58 g/t (103-105 m), including 1 m @ 0.68 g/t; 1 m @ 0.35 g/t (154-155 m); 1 m @ 0.28 g/t; 1 m @ 0.26 g/t
  • BA2609 (NW): 4 m @ 0.23 g/t (110-114 m), including 1 m @ 0.57 g/t; 1 m @ 0.26 g/t; 1 m @ 0.25 g/t
  • BA2610 (NW): 1 m @ 0.53 g/t, 1 m @ 0.50 g/t, 1 m @ 0.48 g/t, 1 m @ 0.47 g/t, 2 m @ 0.24 g/t, 1 m @ 0.24 g/t (all single-metre intervals between 42 m and 110 m)
  • BA2605 (Skye North): 1 m @ 0.21 g/t
  • BA2602 (East) and BA2606 (Skye South): no significant results

The release states that the four soil anomalies cover several hundred metres to more than 2 km each, with a combined total strike length of over 8 km. A new "epithermal" quartz-vein model was identified in felsenmeer float, covering 250 x 150 m at Skye North, with traces of 150 m at Skye North and 125 m at Skye South. Prospecting assays and metallic-screen (coarse gold) assays are pending and "may revise certain gold values reported in this release." True widths are stated as not determined, and intervals are core lengths. The Northern Access Route (NAR) for Talamore's Coffee Gold Project traverses 20 km of the property.

Material Impact

Stakeholder Gold Corp. (SRC) is a pre-resource explorer with a small cash-generating side business. The company currently holds no resource, reserve, preliminary economic assessment, or mine plan. Its equity, valued at approximately CAD $44 million, is priced entirely on exploration optionality.

There is no prior 43-101 assayed gold intercept on the Skye North, Skye South, East, or NW targets, as these were greenfield areas. The nearest prior data points, both historical and non-43-101, are 2012 drilling up to 0.945 g/t over 3 m (2.8 g·m) at the NW periphery and 2016 RAB up to 0.856 g/t over 3.04 m (2.6 g·m) at East. The company had previously dismissed these results as having "missed core structures" and tested only "periphery."

The 2026 best result (BA2604, 1.92 g·m) is approximately 30% below the 2012 peripheral historical result the company said was inadequate, and roughly 25% below the 2016 RAB result. Drilling the "untested core" produced materially less grade x width than the historical fringe. This represents a negative delta against the only prior data available on non-43-101 comparators, so it should be treated as directional only.

The stock rose from $0.74 in December 2025 to $1.82 in late June 2026, a 146% increase. This ascent was driven by permitting, financings of $2.29 million in March at $1.10/$1.19 and $700k in August at $2.06 flow-through, and a pre-assay Loki "ultramafic discovery" narrative involving visible sulphides, a "fertile magmatic sulphide system," and a 30-35 km trend. The March 2026 financings priced at $1.10-1.19, well below the current $1.74. The stock has ground sideways-to-down from $1.82 to $1.74 since the Loki assays landed on 19 August and 1 September.

The market has now received hard assay answers from both 2026 targets. Loki returned 498 m of mineralisation, but the best interval is 6 m @ 1,190 ppm Cu / 159 ppm Ni / 123 ppm Co (~0.12% Cu), which is not economic. The gold target’s best 6 m interval returned 0.32 g/t. Neither target validated the grade implied by the equity's ascent. The 2026 program has consumed approximately $3M of financings and 2,050 m of drilling, producing no economic intersection on either target.

The four large soil anomalies, the 8 km of untested anomaly strike, the newly identified epithermal veins, and the NAR infrastructure remain live. However, this is the first hard assayed gold data on the targets the equity has been repriced for, and it lands in the noise band of the deposit-type calibration while under-performing the property's own historical fringe results. Against a partially embedded anchor and a stock that has stalled since the last assay batch, the result indicates no value was created, and the market's assumption that the 2026 program would demonstrate a discovery was not met.

SRC · Price
Company Overview

Stakeholder Gold Corp. (SRC) holds a 100% interest in the Ballarat Gold-Copper Project within the White Gold District of the Yukon. The property comprises 1,140 contiguous claims covering 22,700 hectares, though the latest Management’s Discussion and Analysis lists the count at 18,741 hectares. The claims span approximately 20 kilometers of Talamore Mining's Northern Access Route to the Coffee Gold Project, with ten additional claims held inside the Coffee project boundary.

Exploration targets on the property include the Skye Gold Zone, which features the Skye North anomaly extending more than 2 kilometers and the Skye South anomaly measuring approximately 1.8 kilometers. The East target presents a 650 by 350-meter anomaly at the headwaters of Barker Creek, while the Northwest target consists of two parallel anomalies approximately 2 kilometers in length, recording a peak soil value of 796 ppb Au.

The Loki Critical Mineral Zone is defined by an ultramafic intrusive body interpreted as part of the Late Triassic Pyroxene Mountain suite, characterized by disseminated-to-massive pyrrhotite, pyrite, and chalcopyrite. A structural corridor approximately 35 kilometers long crosses the southern portion of the property. The first drill hole, BA2601, drilled 498 meters and returned copper-nickel-cobalt and separate PGE mineralization at sub-economic grades. Additionally, a 1.45-square-kilometer untested conductor was identified 1.4 kilometers to the south.

Through its 100%-owned Brazilian subsidiary, Mineração VMC Ltda., the company operates an exotic stone quarry business with four active quarries. In June 2026, it acquired a 50% interest and operational control in a licensed "Taj Mahal" quartzite quarry at Uruoca, Ceará, for BRL 3.0 million (approximately CAD 763,500), with production targeted at 200 cubic meters per month.

Historical placer production from adjacent drainages includes approximately 19,924 ounces of gold from Ballarat Creek and 21,528 ounces from Barker Creek between 1978 and 2020. This activity indicates a gold endowment in the catchment rather than a bedrock resource.

As of March 31, 2026, the company had 24,791,412 shares outstanding. This figure includes 340,000 units issued in the August 2026 flow-through, bringing the basic share count to roughly 25.1 million. Approximately 4.31 million warrants remain outstanding, consisting of warrants priced between $1.20 and $1.50, along with half-warrants at $2.40 from the August raise. Insider ownership stands at approximately 45%, while institutional ownership is estimated at 8% based on a February 2026 presentation.

Read the original news release →

More from Stakeholder Gold Corp.