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NNX 0.035 +0.0% ABX 51.85 −0.7% TTS 2.50 +0.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 22.99 +10.5% TUNG 1.72 +1.8% LGO 1.00 −3.9% EMM 0.080 +0.0% OGN 3.45 +2.1% MSA 6.40 −0.5% SGZ 0.045 +0.0% S 0.155 +29.2% GRSL 0.310 −3.1% DEX 0.390 +1.3% WMS 0.040 +0.0% NNX 0.035 +0.0% ABX 51.85 −0.7% TTS 2.50 +0.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 22.99 +10.5% TUNG 1.72 +1.8% LGO 1.00 −3.9% EMM 0.080 +0.0% OGN 3.45 +2.1% MSA 6.40 −0.5% SGZ 0.045 +0.0% S 0.155 +29.2% GRSL 0.310 −3.1% DEX 0.390 +1.3% WMS 0.040 +0.0%
Production / Operations Routine +

South Atlantic Gold Commences Phase III Mobilization At Pedra Branca

South Atlantic Gold Drills Ahead as Capital Deployment Accelerates at Pedra Branca

By The Northwire Desk — AI Analysis Apr 14, 2026 · 07:30 SAO · 0.085 South Atlantic Gold Inc.
Executive Summary
  • South Atlantic Gold Inc. has commenced mobilization for Phase III diamond drilling at the Pedra Branca Project in Ceará, Brazil.
  • The program consists of 5,000 metres of HQ/NQ oriented core drilling across three targets: Queimadas, Mirador, and Igrejinha.
  • Estimated cost is C$3.0 million, fully funded by a C$4.2 million private placement that closed in March 2026.
  • Drilling begins late April 2026 with first assay results anticipated in Q2 2026.
  • Additional activities include IP geophysical surveying (14 line-km) and core re-sampling of historical holes for fire assay gold and ICP-MS geochemistry.
  • Management states the goal is to test if Queimadas extends to depth as a hypozonal orogenic system comparable to global deposits.
Material Impact
  • The news confirms execution of the financing plan announced in March 2026, validating that capital is being deployed rather than held idle.
  • This is not unexpected; investors were aware drilling would follow the C$4.2M raise closing on March 13, 2026.
  • No new geological data or resource updates are provided yet; results are expected in Q2 2026.
  • The mobilization reduces execution risk regarding the use of proceeds but does not alter valuation until assay results arrive.
  • Given the price has already rallied from $0.02 to $0.09 over six months, much of this positive sentiment is likely priced in.
SAO · Price
Company Overview
  • Project: Pedra Branca Gold Project in Ceará State, Brazil.
  • Land Package: >52,828 hectares covering the Troia Greenstone Belt (as of Jan 2026 presentation).
  • Resource Status: Maiden inferred resource of 180,000 oz Au (4 Mt @ 1.38 g/t) effective March 16, 2021; no updated resource since then.
  • Exploration History: >15 km total drill length, 10,253 assays, 37,381 m of trenching, and 37,381 soil samples.
  • Infrastructure: Paved road access (280 km to Fortaleza), power, water, and skilled labor nearby; pro-business environment in Ceará.
Read the original news release →

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