P2 Gold Advances Gabbs Project Feasibility Study with Expanded Drilling and Water Rights Acquisition
Event summary
- P2 Gold's feasibility study for the Gabbs Project is on track for Q4 2026 completion.
- Infill and expansion drilling at the Lucky Strike Zone has been expanded due to positive results, with 69 RC drill holes completed since October 2025.
- The company has secured 2,500 acre-feet per year of water rights, pending regulatory approval.
- Metallurgical test work is underway for the Sullivan, Lucky Strike, and Car Body zones, with results expected in Q3 2026.
The big picture
P2 Gold's progress on the Gabbs Project aligns with the broader trend of mining companies advancing feasibility studies to capitalize on favorable metal prices. The strategic acquisition of water rights and expanded drilling underscore the company's commitment to moving the project towards production, though regulatory approvals remain a critical path forward. The project's scale, targeting 150,000 ounces of gold and 45-50 million pounds of copper annually, positions it as a potential mid-size contributor to the gold-copper market.
What we're watching
- Resource Expansion
- How the expanded drilling program will impact the updated mineral resource estimate expected in Q3 2026.
- Regulatory Timing
- Whether the Nevada Division of Water Rights will approve the transfer of water rights within the anticipated 6-12 month window.
- Permitting Progress
- The pace at which P2 Gold can file and secure approval for its mining plan of operations with the Bureau of Land Management.
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