P2 Gold Discovers New Mineralized Unit at Sullivan Zone, Expanding…

Event summary

P2 Gold identified a new hanging wall gold-copper mineralized unit within the Sullivan Zone at its Gabbs Project in Nevada, previously modeled as waste in the PEA.
Drill holes GBR-133 and GBR-140 intersected significant mineralization, including 0.32 g/t gold and 0.18% copper over 70.10 meters in GBR-133.
The discovery could reduce the strip ratio for the Sullivan Zone, potentially improving the economics of the feasibility study underway.
105 reverse circulation drill holes have been completed since October 2025, with 40 at the Sullivan Zone and 65 at the Lucky Strike Zone.
An updated Mineral Resource estimate for Gabbs is targeted for completion in Q4 2026, forming the basis for a feasibility study expected in Q1 2027.

The big picture

P2 Gold's discovery of new mineralization within an area previously considered waste in the PEA highlights the potential for enhancing the economic profile of the Gabbs Project. This development comes as the company advances its feasibility study, aiming to increase production targets and improve the project's long-term viability. The find underscores the importance of continued exploration in expanding known mineral resources and optimizing mining economics in the competitive Nevada mining sector.

What we're watching

Resource Expansion: Whether the newly identified mineralized unit can significantly enhance the economic viability of the Gabbs Project.
Feasibility Study: The pace at which the feasibility study progresses and how the updated Mineral Resource estimate impacts production targets.
Execution Risk: How P2 Gold manages the ongoing drilling program and integrates new findings into the feasibility study timeline.