Spanish Mountain Gold Reports High-Grade Gold Intercepts in Feasibility Drill Program

Event summary

  • Spanish Mountain Gold reported assay results from eight diamond drill holes as part of its 2025-2026 Diamond Drill program, with highlights including 100.1 meters of 0.88 g/t gold and 100.0 meters of 1.00 g/t gold.
  • The drill program is part of a planned 60,000-meter drilling initiative related to the 2026 Feasibility Drill Program, with 28,500 meters completed to date.
  • The company received US$22.5 million from the sale of a 1.5% NSR to Wheaton Precious Metals, with the total deal valued at US$55 million.
  • The feasibility study, fully funded by the royalty sale, aims to position the company for a construction decision in 2028.

The big picture

Spanish Mountain Gold's latest drill results underscore the potential of its Spanish Mountain Gold project in the Cariboo Gold Corridor. The high-grade intercepts and strategic funding from Wheaton Precious Metals position the company to advance its feasibility study and move closer to a construction decision. The broader industry context highlights the importance of securing high-grade deposits and securing financing to navigate the volatile precious metals market.

What we're watching

Drill Program Expansion
The pace at which Spanish Mountain Gold can expand its drill program and confirm the continuity of high-grade mineralization within the Orca Fault Corridor.
Feasibility Study Outcomes
Whether the feasibility study will validate the economic viability of the Spanish Mountain Gold project and support a construction decision in 2028.
Funding Utilization
How effectively Spanish Mountain Gold utilizes the US$55 million royalty sale proceeds to advance the project towards production.

Related topics

Mining