Northwire Canada EditionFriday, July 10, 2026
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S 0.165 +37.5% NNX 0.035 +0.0% ABX 52.05 −0.3% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.32 +12.1% TUNG 1.73 +2.4% LGO 1.00 −3.4% EMM 0.080 +0.0% OGN 3.45 +2.1% MSA 6.50 +1.1% SGZ 0.040 −11.1% GRSL 0.307 −3.9% DEX 0.380 −1.3% WMS 0.040 +0.0% S 0.165 +37.5% NNX 0.035 +0.0% ABX 52.05 −0.3% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.32 +12.1% TUNG 1.73 +2.4% LGO 1.00 −3.4% EMM 0.080 +0.0% OGN 3.45 +2.1% MSA 6.50 +1.1% SGZ 0.040 −11.1% GRSL 0.307 −3.9% DEX 0.380 −1.3% WMS 0.040 +0.0%
Production / Operations Routine +

1911 Gold Advances True North Toward 2027 Production with Start of Underground Development and Test Mining Preparation

1911 Gold Commences Underground Development at True North, De-risking 2027 Restart Plan

By The Northwire Desk — AI Analysis May 19, 2026 · 07:02 AUMB · 0.86 1911 Gold Corporation
Executive Summary
  • 1911 Gold has commenced underground drift development on Level 16 of the True North Mine in Manitoba.
  • Development targets include L10 and Hinge zones to prepare stopes for extraction and bulk sample programs.
  • An underground development contract was awarded with mobilization expected in June 2026.
  • Equipment arrivals are scheduled: three 2-yard scoops in June 2026, a single-boom jumbo in July 2026.
  • Preliminary mine plan estimates 3,551 total meters of new development (2,056 m for Hinge, 1,495 m for L10).
  • Infrastructure scope includes ramp development, sill drives, and essential infrastructure upgrades.
  • Level 26 access was re-established in April 2026 to support ore movement and loading pocket operations.
  • Test mining activities are planned for later this year (H2 2026) with commercial production targeted for 2027.
Material Impact
  • The news confirms execution of the timeline established in the February 2026 PEA, which projected test mining in H2 2026 and production in 2027.
  • Progress is on schedule; therefore, the information is not unexpected by the market following the PEA release.
  • The commencement of underground development de-risks the project technically but does not alter the fundamental economic thesis established previously.
  • No new strategic investors or major resource upgrades are announced in this specific release compared to historical drill results.
  • Given the prior "Material - Positive" ratings for the PEA and Credit Facility, this operational update is incremental progress rather than a paradigm shift.
  • The market has likely priced in the 2027 restart potential since February; thus, the immediate price impact is expected to be muted relative to previous catalysts.
AUMB · Price
Company Overview
  • Company: 1911 Gold Corporation (TSX-V: AUMB).
  • Flagship Project: True North Gold Project in the Rice Lake Greenstone Belt, Manitoba, Canada.
  • Project Status: Advanced Development stage; Preliminary Economic Assessment (PEA) completed March 2026.
  • Mine Type: Underground long-hole open stope mining utilizing existing infrastructure.
  • Production Guidance: Targeting steady-state production of ~58,114 oz Au/year over an 11-year mine life starting in 2027.
  • Infrastructure: Existing shafts (A Shaft, Hinge), processing plant (1,300 t/d), and tailings management facility are fully permitted with a replacement value >$400 million.
Read the original news release →

More from 1911 Gold Corporation

Jul 02, 2026 · 21:01

1911 Gold Issues Clarification of February 2026 PEA Disclosure

Regulatory Jun 17, 2026 · 18:38

1911 Gold upsizes its bought deal to $31 million to fund the True North restart, though dilution and offtake constraints remain a concern.

Financings Jun 16, 2026 · 16:16

1911 Gold secured a $20m bought deal to fund the True North restart despite dilution and execution risks.

Financings May 26, 2026 · 07:02

Satellite Exploration Success Supports 2027 Restart Thesis Despite Financing Costs

Drill Results May 12, 2026 · 07:02

True North Restart De-risked by Drill Extensions and Secured Credit Facility

Drill Results Apr 16, 2026 · 07:02

1911 Gold Infrastructure Access Confirms PEA Timeline but Execution Risks Remain

Production / Operations