1911 Gold Intersects up to 24.83 g/t Gold over 2.60 m on San Antonio West at the True North Gold Project
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On November 11, 2025, 1911 Gold announced assay results from its recently completed surface drilling program at the True North Gold Project. The results are from the San Antonio West (SAM W) and Annex targets.
Key intercepts include: - SAM W Target: - TN-25-064: 24.83 g/t gold over 2.60 m - TN-25-067: 4.04 g/t gold over 5.80 m - TN-25-071: 12.80 g/t gold over 0.80 m - Annex Target: - TN-25-061: 8.75 g/t gold over 2.60 m - TN-25-067: 5.23 g/t gold over 2.50 m
The company confirmed the completion of its surface drill program on September 20, 2025, and has now shifted to underground exploration drilling, which commenced on October 1, 2025. A second underground drill rig was added on November 6, 2025.
The drill results are strong, particularly the 24.83 g/t over 2.60 m intercept at San Antonio West. These results continue to confirm the presence of high-grade gold mineralization near the existing True North mine infrastructure, which is consistent with the company's exploration thesis. Throughout 2025, 1911 Gold has consistently reported high-grade intercepts from its surface drilling program (e.g., 58.66 g/t over 1.40 m in June, 62.40 g/t over 1.00 m in April), and this news builds upon that success.
The CEO's statement highlights that these are "some of the best near-mine exploration results" and emphasizes the transition to underground drilling to "accelerate resource growth." This aligns with the operational updates from September 25, which detailed the commencement of the underground program.
However, this positive operational news must be viewed in the context of recent negative corporate developments. - On October 20, 2025, the company announced the TSX Venture Exchange (TSX-V) had denied approval for a planned C$17 million financing. - On November 6, 2025, the company announced its appeal of this decision was also denied.
Management stated that the company remains "well funded" from its C$13.2 million July 2025 financing and warrant exercises, and that the failed financing was intended to "expand and accelerate" its programs, not fund its core current plans. Despite this reassurance, the rejection by the exchange is a significant red flag, raising concerns about future financing capabilities, which will be critical for an eventual mine restart.
Therefore, while the drill results are unequivocally positive and demonstrate continued exploration success, their impact is tempered by the recent financing failure. The results are in line with expectations from the ongoing program and confirm the geological model, but they do not fundamentally change the investment thesis or negate the new financing risk. The news is a routine, positive operational update.
1911 Gold Corporation is a Canadian gold exploration and development company. Its flagship asset is the True North Gold Project, located on the Rice Lake property in Manitoba. This is a past-producing mine with significant existing infrastructure, including a fully permitted 1,300 tpd processing mill, a tailings facility, and extensive underground workings.
The company's strategy is to de-risk and restart the True North mine, targeting 2027 for renewed operations. The current focus is on expanding the November 2024 mineral resource estimate (499k oz Indicated @ 4.41 g/t Au and 644k oz Inferred @ 3.65 g/t Au) through aggressive near-mine exploration drilling.