Northwire Canada EditionFriday, July 10, 2026
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GRSL 0.320 +6.7% DEX 0.385 −1.3% WMS 0.040 +0.0% EMPR 0.820 −4.7% SAGA 0.480 −2.0% ABX 52.22 +3.3% CGM 0.250 +2.0% OGN 3.38 +0.6% ALS 62.23 +2.5% JZR 0.235 −6.0% TECT 2.18 +6.9% EQX 13.81 +3.1% OLA 13.79 +3.2% LME 0.190 +0.0% MNO 1.65 +0.0% DML 4.49 +2.0% GRSL 0.320 +6.7% DEX 0.385 −1.3% WMS 0.040 +0.0% EMPR 0.820 −4.7% SAGA 0.480 −2.0% ABX 52.22 +3.3% CGM 0.250 +2.0% OGN 3.38 +0.6% ALS 62.23 +2.5% JZR 0.235 −6.0% TECT 2.18 +6.9% EQX 13.81 +3.1% OLA 13.79 +3.2% LME 0.190 +0.0% MNO 1.65 +0.0% DML 4.49 +2.0%
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P2 Gold: Gabbs Geotechnical Drilling Confirms Sullivan Zone Remains Open for Expansion Down Dip

P2 Gold’s Gabbs project feasibility study confirms down-dip expansion potential following drilling results.

By The Northwire Desk — AI Analysis Jun 18, 2026 · 05:00 PGLD · 0.7 P2 Gold Inc.
Executive Summary
  • P2 Gold reports results from five diamond drill holes at the Sullivan Zone of its Gabbs Project in Nevada, confirming that gold-copper mineralization remains open for expansion down dip.
  • The company has completed 70 reverse circulation (RC) drill holes since October 2025 and is continuing an expansion and infill program to support an updated Mineral Resource estimate and a feasibility study.
  • An updated Mineral Resource estimate is expected in the third quarter of 2026, with the feasibility study targeting completion in the fourth quarter of 2026.
  • The feasibility study is advancing at a nominal production rate of 12 million tonnes per year, targeting average annual production of 150,000 ounces of gold and 45 to 50 million pounds of copper.
  • Previous Preliminary Economic Assessment (PEA) outlined a long-life, mid-size mine processing 9 million tonnes per year over a 14.2-year mine life, targeting average annual production of 109,000 ounces of gold and 33 million pounds of copper.
Material Impact
  • The June 18, 2026 release is a direct continuation of the infill and expansion drilling program announced in October 2025. Monthly drill result updates have been rolling out consistently since December 2025, confirming the geological model and supporting the resource upgrade path.
  • The confirmation of down-dip expansion at Sullivan is in line with management's stated exploration objectives and does not introduce unexpected geological surprises or grade upgrades that would materially alter the project's economics.
  • The news reinforces the timeline for the updated Mineral Resource estimate (Q3 2026) and Feasibility Study (Q4 2026), which the market has already priced in through the stock's prior run-up to $1.02 in January 2026.
  • As an expected, incremental exploration update, the release lacks the catalyst density required to drive a significant re-rating. It serves as a maintenance of confidence rather than a market-moving event.
PGLD · Price
Company Overview
  • P2 Gold Inc. is a pre-production exploration and development company focused on the 100%-owned Gabbs Project in Nye County, Nevada.
  • The project hosts gold-copper mineralization across the Sullivan and Lucky Strike zones, hosted in a tabular quartz monzonite unit underlain by pyroxenite.
  • The project is transitioning from a Preliminary Economic Assessment (PEA) to a Feasibility Study. The PEA (effective Oct 2025) outlined a 14.2-year mine life at 9 million tonnes per year, targeting 109,000 oz Au and 33M lbs Cu annually, with an after-tax NPV of US$2.253 billion (5% discount) and an IRR of 77.5%.
  • The updated feasibility study is advancing at a higher nominal production rate of 12 million tonnes per year, targeting 150,000 oz Au and 45-50M lbs Cu annually. Mill operations are advanced to year three, utilizing a high-capacity heap leach facility (14M tpy) in years one and two.
  • Infrastructure includes paved Highway 361 access, on-site power, and secured water rights (pending regulatory transfer).
Read the original news release →

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