Drill Results Material +

P2 Gold Intersects 0.90 g/t Gold and 0.34% Copper Over 48.77 Meters, Including 1.61 g/t Gold and 0.49% Copper over 21.34 meters at Lucky Strike Zone

Lucky Strike drill hits boost Gabbs resource outlook ahead of Q3 update

By The Northwire Desk — AI Analysis Apr 08, 2026 · 05:00 PGLD · 0.655 P2 Gold Inc.

Executive Summary

On 2026‑04‑08 P2 Gold announced intersecting 0.90 g/t Au and 0.34 % Cu over 48.77 m (including a higher‑grade core of 1.61 g/t Au and 0.49 % Cu over 21.34 m) in hole GBR‑1103 at the Lucky Strike Zone, Gabbs Project.
Similar high‑grade intervals were reported from holes GBR‑1104 and GBR‑1106, confirming a mineralized envelope comparable to the Sullivan Zone and suggesting the zone may be larger and higher‑grade than modeled.
The company is progressing toward an updated Mineral Resource estimate in Q3 2026, which will feed a feasibility study targeted for Q4 2026.
Drill program: 11,500 m planned across 70 holes; to date 62 RC holes drilled (24 Sullivan, 38 Lucky Strike) plus 29 metallurgical/geotechnical diamond holes.

Material Impact

Scope: The intercepts materially expand the known high‑grade core of Lucky Strike and confirm that the zone is open in all directions.
Expectation vs. reality: Prior updates (Feb–Mar 2026) indicated a “potentially larger” zone but provided no quantitative high‑grade data. The new drill results deliver concrete grades and thickness, exceeding the baseline resource model.
Impact on valuation: An enlarged, higher‑grade resource can lift the forthcoming Q3 2026 resource estimate, improving the economics of the planned feasibility study (lower capital per ounce, higher IRR). This is a material positive catalyst for the stock, especially given the company’s cash‑light balance sheet.
Risk considerations: Results are still drill‑hole specific; metallurgical recoveries and permitting remain pending. However, the water‑rights acquisition earlier in 2026 reduces operational risk.

PGLD · Price

Company Overview

P2 Gold Inc. focuses on the Gabbs Project in Nevada (open‑pit, heap‑leach, later mill).
The project hosts two primary zones: Sullivan Zone (historical resource core) and Lucky Strike Zone (currently being infilled/expanded).
Current NI 43‑101 resources (PEA stage):
Indicated: 1.16 M oz Au eq (49.8 Mt @ 0.45 g/t Au, 1.36 g/t Ag, 0.27 % Cu)
Inferred: 2.29 M oz Au eq (112.2 Mt @ 0.35 g/t Au, 0.84 g/t Ag, 0.23 % Cu)

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