Spanish Mountain Gold Drilling Intersects 103.35 Metres Grading 0.88 g/t Gold With a Higher-Grade Subset of 56.40 Metres of 1.35 g/t Gold
Advancing the Spanish Mountain Gold Project toward a 2027 build decision in British Columbia.
The news release dated February 3, 2026, reports the final assay results from the 2025 Fall Diamond Drill Program at the Spanish Mountain Gold Project. Key highlights include hole 25-DH-1325, which intersected 103.35 metres grading 0.88 g/t Gold, including a higher-grade interval of 56.40 metres at 1.35 g/t Gold. Other holes (25-DH-1324, 1326, 1327) confirmed broad zones of mineralization ranging from 0.44 g/t to 0.82 g/t over significant widths (34m to 116m). These results have officially confirmed the continuity of the Orca Fault target over a 530-metre strike length.
This news is Material - Positive for three primary reasons: - Grade Superiority: The reported grades (0.88 g/t and 1.35 g/t) are significantly higher than the current project’s Measured & Indicated (M&I) average grade of 0.44 g/t Au. Consistently hitting double or triple the resource grade within the pit shell suggests a high probability of "high-grading" the early years of the mine plan in the upcoming Feasibility Study. - Target Continuity: Confirming the Orca Fault over 530 metres of strike provides the geological confidence needed to include this zone in future reserve calculations. - Execution: The company completed 10,870 metres, exceeding its 10,000-metre plan, indicating efficient field operations and budgetary control.
Spanish Mountain Gold Ltd. is focused on its 100%-owned Spanish Mountain Gold Project in the Cariboo Gold Corridor of British Columbia. The project is characterized by a massive, low-grade (0.44 g/t Au) sediment-hosted gold deposit. - Flagship Project: Spanish Mountain Gold Project. - Stage: Preliminary Economic Assessment (PEA) completed July 2025. - PEA Highlights (Base Case): 24.5-year mine life, 3.0Moz Au production, After-tax NPV5% of C$1.0B at US$2,450 Au.