Val d'Or starts drill program on Perestroika
Junior prospect generator leveraging major partnerships to fund high-grade gold exploration in the Abitibi.
The most recent news (February 19, 2026) announces the commencement of an 8,000-metre Phase III diamond drilling program at the Perestroika Prospect in Quebec. The program consists of approximately 20 holes with a budget of $1.37 million USD. This program is operated and funded by Eldorado Gold (Quebec) Inc. as part of an option agreement where Eldorado can earn up to a 70% interest. The drilling aims to follow up on high-grade intercepts from 2024 and 2025, including 213.08 g/t Au over 0.50m (PE-24-005) and 46.36 g/t Au over 1.30m (PE-25-013), testing for lateral continuity and multiple mineralized "shoots" within a 1,500m shear corridor.
The impact is positive but categorized as "Routine" for an exploration-stage company. - Material Validation: The commitment of $1.37M USD by a major partner (Eldorado) for a Phase III program indicates that previous results (Phase I and II) were sufficiently encouraging to justify larger expenditures. - Financial De-risking: As the project operator, Eldorado bears the exploration costs, allowing Val-d'Or to maintain its cash position ($1.78M as of Sept 2025) while retaining a 30% carried or joint-venture interest. - Technical Progression: The program size (8,000m) is a significant increase from Phase II (5,004m), suggesting a transition from broad exploration to more targeted delineation of potential gold shoots. - Disclaimer Note: Investors must remain cautious as the reported high grades are often over very narrow widths (0.5m), and the company explicitly states these do not represent true widths.
Val-d'Or Mining is a prospect generator focused on the Abitibi Greenstone Belt (Quebec and Ontario). - Flagship Project: Perestroika Prospect (Gold). It is located 40km northeast of Val-d'Or, Quebec. The project is characterized by a 1,500m mineralized shear corridor. - Strategy: The company identifies early-stage prospects and options them to larger miners (Eldorado Gold, Kirkland Lake Discoveries) to fund expensive diamond drilling while retaining royalties or minority interests.