Spanish Mountain Gold Confirms Grade Continuity with Multiple 100-Metre Intercepts
Event summary
- Spanish Mountain Gold reported assay results from 21 diamond drill holes, confirming grade continuity along the Orca Fault Corridor with multiple 100-metre-plus intercepts.
- Highlights include 116.60 metres grading 0.60 g/t gold and 167.50 metres grading 0.52 g/t gold, including higher-grade intervals.
- The 2025-2026 Drill Program has completed approximately 25,588 metres, with assay results pending for 23 additional drill holes.
- The company received the first instalment of US$22.5 million from the sale of a 1.5% NSR to Wheaton Precious Metals for US$55 million.
The big picture
Spanish Mountain Gold's latest drill results confirm the grade continuity and potential for resource expansion along the Orca Fault Corridor, which is critical for the feasibility study and future construction decision. The company's strategic partnership with Wheaton Precious Metals provides funding for the feasibility study, positioning it to make a construction decision by 2028. This development is part of a broader trend in the mining sector towards enhancing resource estimates and securing funding for feasibility studies to advance projects towards production.
What we're watching
- Resource Expansion
- How the confirmed grade continuity will impact the life-of-mine plan and potential resource expansion.
- Feasibility Study
- Whether the ongoing feasibility study will support a construction decision by 2028.
- Market Dynamics
- The pace at which the company can secure the remaining instalments from Wheaton Precious Metals and fund the feasibility study.
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