Northwire Canada EditionSaturday, November 7, 2026
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Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7% Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7%
Drill Results Routine +

P2 Gold Intersects 183.0 g/t Gold and 4.0% Copper Over 1.52 Meters within a Longer Mineralized Interval at the Lucky Strike Zone

Gabbs Project Feasibility Study Progress Validates Resource Base Despite Dilution Concerns

By The Northwire Desk — AI Analysis May 20, 2026 · 05:00 PGLD · 0.76 P2 Gold Inc.
Executive Summary
  • Most Recent News (2026-05-20): P2 Gold reported significant high-grade gold and copper intercepts at the Lucky Strike Zone within its Gabbs Project. Key highlights include 1.52 meters grading 183.0 g/t Au and 4.0% Cu, confirming expansion potential of the zone which remains open in all directions.
  • Project Milestones: An updated Mineral Resource estimate is expected in Q3 2026, feeding into a feasibility study targeted for completion in Q4 2026.
  • Drilling Program: Four diamond drill holes (GBD-021 and GBD-029 to 031) were reported. An RC drill has been mobilized to expand the higher-grade core area. Since October 2025, the program has completed 67 RC holes plus metallurgical/geotechnical drilling.
  • Recent Financing (2026-05-13): The company upsized a non-brokered private placement from 15 million to 15.5 million units at $0.75 per unit, raising up to $11,625,000. Quaternary Group Limited subscribed for 10 million units.
  • Feasibility Update (2026-05-11): Production rate increased to 12 million tonnes per year with mill operations advanced to Year Three. Targeted annual production is 150,000 ounces of gold and 45-50 million pounds of copper.
  • Water Rights (2026-03/04): Definitive agreement signed for 2,500 acre-feet per year of water rights at a cost of US$10.625 million, with payment contingent on regulatory approval expected within 6-12 months.
Material Impact
  • Drill Results: The intercepts (183 g/t Au) are high-grade but represent infill and expansion drilling within a known program announced in late 2025. While positive, they validate the existing resource model rather than discovering a new zone that fundamentally alters the project thesis. This aligns with the previously announced Q3 Resource Estimate timeline.
  • Financing: The upsized financing to $11.6M at $0.75/unit indicates management confidence but introduces dilution risk. The price is close to recent trading levels ($0.76), suggesting limited immediate upside premium for new capital unless the drill results drive a breakout.
  • Feasibility Study: The May 11 update increasing production rates and advancing mill operations is material, as it improves project economics (NPV/IRR). However, this was already priced in by the market given the trajectory of the PEA updates from late 2025.
  • Overall Impact: The news reinforces the path to feasibility but does not constitute a "Game Changer" or unexpected material shift beyond what was anticipated for Q3/Q4 2026 milestones. It is incremental validation of the project's economic potential.
PGLD · Price
Company Overview
  • Company: P2 Gold Inc. (TSX-V: PGLD).
  • Flagship Project: Gabbs Project, Nye County, Nevada, USA.
  • Project Status: Pre-production (PEA stage moving toward feasibility).
  • Mine Type: Open Pit, Heap Leach, Mill (combined operation).
  • Production Guidance: Average annual production ~174,400 oz AuEq per year over a 14.2-year mine life. Life-of-Mine gold equivalent ~2.48 million oz; copper ~1.55 million oz.
  • Infrastructure: Paved Highway 361 access; on-site power and water rights secured (subject to transfer approval).
  • Jurisdiction: Nevada, USA (Top-tier mining jurisdiction).
Read the original news release →

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Technical Study Aug 12, 2026 · 05:00

P2 infill drilling confirms a thickening high-grade gold-copper core at the Lucky Strike deposit.

Drill Results