Quartz Announces Phase 4 Drill Results Including 164 Metres of 0.72 g/t AuEQ (0.31 g/t Gold, 18 g/t Silver, 0.024 % Molybdenum and 0.04% Copper)

Quartz Mountain Resources Ltd. (QZM) has released assay results from the Phase 4 drill program at its Maestro Project’s Prodigy zone. The program consisted of eight holes totaling 4,366 meters.

The company reported the following principal epithermal intercepts:

• Hole 26-14: 163.9m grading 0.31 g/t Au, 18 g/t Ag, 0.024% Mo, 0.04% Cu, for 0.72 g/t AuEq (metal prices/recoveries per company method).
• Hole 26-14: 306.6m @ 0.54 g/t AuEq.
• Hole 26-19: 59.0m @ 0.50 g/t AuEq.

Narrow high-grade veins were identified within these holes, including 2.4m @ 5.09 g/t Au / 5.86 g/t AuEq and 3.0m @ 2.17 g/t Au / 5.20 g/t AuEq.

Porphyry molybdenum intercepts returned 151m @ 0.026% Mo, 396m @ 0.017% Mo, and 97m @ 0.021% Mo, all of which are sub-economic alone.

Historical pulp re-assays included 0.9m @ 10.3 g/t Au from the 61 Zone shallow vein and 2m @ 5.6 g/t Au from Lone Pine SW.

The company states the Prodigy system is now defined to approximately 600m long by 100–200m wide by 500m deep. Phase 5 drilling is planned for September 2026.

Quartz Mountain Resources Ltd. (QZM) remains a grassroots explorer with no established resource or preliminary economic assessment, meaning news flow is critical to its equity value. While a discovery hole could be material, a step-out that merely confirms lateral extent at similar low grades is unlikely to move the stock significantly.

The company’s chart shows a steady decline from $0.92 in February 2026 to $0.53 prior to the news, despite ongoing Phase 4 drilling. This trajectory suggests the market had already priced in the existence of a bulk system and was not anticipating a grade surprise. The latest release offers no positive grade deviation, aligning exactly with Phase 3 results.

A prior Phase 3 release on November 3, 2025, saw the stock rise from $0.52 to $0.62 intraday, though it gave back those gains as the long-term trend remained negative. Given that this Phase 4 news is no better than the previous release, it likely follows a similar pattern.

Financially, the company holds $2.6 million in working capital, which is sufficient for the next drill phase. However, Quartz Mountain Resources Ltd. will need a future raise, as this result is not strong enough to command premium financing. The release does not materially change the size-grade-tonnage thesis, serving only as a routine step-out result that supports the concept of a large, low-grade system without de-risking it or indicating a higher-grade core.

Quartz Mountain Resources Ltd. (QZM) is a junior exploration company within the HDI Group, led by Robert Dickinson. The firm holds 100% interest in the Maestro and Jake projects located in central British Columbia.

Maestro serves as the company’s flagship asset, hosting the Prodigy epithermal Au-Ag-Mo-Cu discovery. The project has undergone multiple phases of drilling totaling 12,951m across 21 holes, though no resource estimate has been established. The Jake project is an earlier-stage porphyry Cu-Au-Ag prospect and is not considered a near-term catalyst.

The company currently generates no revenue and burns approximately $0.5M per quarter, relying on equity markets for funding. Key shareholders include Dickinson, who holds 44%, and the Sutton Group, which holds 24%. Quartz Mountain Resources operates on a “discover and transact” business model, aiming to sell projects to larger miners rather than building a mine.