Hemlo Mining Corp. Initiates 130,000 Metre Exploration Drilling Program for 2026
Executive Summary
- Hemlo Mining Corp. has launched a 130,000‑metre 2026 exploration drilling program aimed at extending mine life, de‑risking the near‑term plan and testing growth opportunities.
- The program is split into three components: 70,000 m of resource conversion drilling (Inferred → Indicated), 30,000 m of high‑definition drilling to support short‑term production, and 30,000 m of growth drilling targeting new mineralized zones.
- Results from this campaign will underpin an updated technical report slated for H2 2027 and are expected to drive future reserve growth and potentially increase the after‑tax NPV of the Hemlo Mine.
Key Details
- Program Scope: 130,000 m total drilling
- Resource Conversion: 70,000 m – focus on upgrading Inferred resources to Indicated status.
- High‑Definition Drilling: 30,000 m – tighter spacing to de‑risk the next two years of mining.
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Growth Drilling: 30,000 m – exploration of new zones outside current resource footprint.
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Target Areas & Objectives
- C‑Zone & newly defined E‑Zone: Convert existing Inferred resources; test depth continuity.
- B‑Zone Footwall (BFW) & South Rim: Evaluate relationship between footwall and south‑rim mineralization; assess potential for a single system.
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Highway Zone, Horizon Zone, and other historic targets: Increase data density; aim for Indicated resources accessible from existing infrastructure.
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Historical Drill Intercepts Highlighted (Table 2):
- E‑Zone: 5 m @ 15.8 g/t Au (DDH‑ID 6702503)
- Highway Zone: 4 m @ 20.8 g/t Au (W24) and 8.2 m @ 14.4 g/t Au (52431102)
- B‑Zone: multiple intercepts ranging from 4.7 m @ 24.6 g/t Au to 5.3 m @ 8.4 g/t Au
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South Rim: several intervals up to 6.8 m @ 17.1 g/t Au
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Economic Context:
- PFS (late‑2025) reported after‑tax NPV₅% ≈ US$1.1 bn at a gold price of US$2,610/oz; NPV rises to ≈ US$1.6 bn with higher price assumptions.
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The drilling program is positioned to enhance the mine’s economics by expanding reserves and improving confidence in near‑term production plans.
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Timeline:
- Drilling commenced Q1 2026.
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Updated technical report expected H2 2027, incorporating results from this campaign.
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Qualified Person: Raphael Dutaut, Ph.D., VP Exploration (NI 43‑101 qualified).
Notable Quotes
“This 130,000 metre drilling program represents a step‑change in ambition for Hemlo… we believe this program positions us to extend mine life, grow reserves, and create long‑term value in a supportive gold price environment.” – Jason Kosec, President & CEO.