1911 Gold Reports High-Grade Intercepts from Near-Mine Targets at True North, Including the New Baker Target
1911 reports high-grade gold intersections near its mine during post-financing consolidation efforts.
1911 Gold Corporation (AUMB) has released assay results from 30 surface and underground holes at its True North project, totaling 8,656 meters. A new high-grade discovery at the Baker target was identified in hole TN-26-076, which returned 36.44 g/t Au over 1.10 m, including a higher-grade interval of 73.70 g/t Au over 0.50 m. Another hole at the Baker target, TN-26-078, intersected 3.48 g/t Au over 2.90 m.
At the SAM SE target, hole TN-26-094 yielded 15.89 g/t Au over 2.70 m, while TN-26-095 returned 11.58 g/t Au over 2.00 m, along with narrower high-grade intercepts. The Shore target hole TN-26-088 intersected 5.99 g/t Au over 4.90 m, including 24.90 g/t Au over 0.70 m.
All reported intervals represent core length, with true widths estimated at 60-90% of core length. The company plans a global resource update for Q4 2026, which will incorporate these near-mine targets. The cut-off grade used for the analysis is 2.25 g/t Au, with no top capping applied and a maximum internal dilution of 2.50 m.
1911 Gold Corporation (AUMB) is an advanced developer with a Preliminary Economic Assessment (PEA) in place, targeting a production restart in 2027. The company’s recent exploration results include near-mine discoveries that could potentially grow resources, though these intercepts remain in the early-stage infill and step-out phases.
The Baker target represents a new area of interest, highlighted by a single high-grade narrow intercept. While encouraging, this finding does not yet constitute a resource addition or define a deposit. No resource estimate update or tonnage estimate was provided with the announcement, and a global resource update is expected months away.
The stock had fallen sharply from $1.15 to $0.57 over the two months preceding the news, a decline partly attributed to a dilutive $35.65 million financing closed the day prior. Because the market was already anticipating exploration updates, these results are unlikely to materially alter the fundamental thesis.
1911 Gold Corporation (AUMB) is an advanced gold explorer and developer focused on restarting the True North Gold Project in the Archean Rice Lake greenstone belt in Manitoba. The project features a permitted 1,300 tonnes per day mill, existing underground infrastructure, and a 62,000-hectare land package.
A Preliminary Economic Assessment (PEA), filed in March 2026 and later clarified or corrected in July 2026, outlined an 11-year life of mine with an average production of 58,000 ounces per year. The assessment projected an after-tax net present value of C$391 million at US$3,000 per ounce of gold and an internal rate of return of 105%.
As of January 2025, the company holds a large resource base comprising 499,000 ounces in the indicated category and 644,000 ounces in the inferred category. The company remains pre-revenue with ongoing exploration and development expenditures. It recently closed a $35.65 million bought deal financing and maintains a US$30 million credit facility, of which US$15 million has been drawn. Cash holdings stood at approximately $25.4 million in the first quarter of 2026, though the company reported negative operating cash flow and a going-concern note.