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New drilling results bolster resource model at lucky strike zone
Who: The operator of the Gabbs Project on the Walker-Lane Trend in Nevada.
What: Ten additional reverse circulation (RC) holes, numbered GBR-082 to GBR-091, were completed as part of an infill and expansion drill program.
Where: The holes targeted the Lucky Strike Zone, a key area within the Gabbs Project known for near-surface mineralization.
Why: The program aimed to confirm near-surface continuity and test extensions of known mineralization to support an updated Mineral Resource estimate and a planned feasibility study.
The results, released by the operator, reinforce the existing resource model and will guide next technical and commercial steps. From an ESG perspective, data-driven infill drilling reduces uncertainty in reserve estimates, improving capital-allocation decisions. sustainability is a business case when clearer resource definitions lower the risk of costly redesigns during permitting and development.
Leading companies have understood that combining targeted drilling with robust resource modelling accelerates project de-risking. The operator said the new holes will be incorporated into the resource update and used to refine the feasibility study inputs, including mine design and economic scenarios.
This article is the first in a series detailing the drill results and their implications for project economics and development planning.
The operator plans to drill 11,500 metres in 70 RC holes, concentrating first on Lucky Strike before returning the rig to the Sullivan Zone to test down-dip extensions. Since the program began in, crews have completed 57 RC holes (33 at Lucky Strike and 24 at Sullivan) and 18 diamond holes for metallurgical testing and slope-stability geotechnical data. Assay results from ongoing work will be released in the coming months.
Highlights from the latest drilling
The recent program increases infill and extension coverage in priority targets. Drill density aims to refine the resource model and support preliminary mine planning. Completed diamond holes provide samples for metallurgical test work and geotechnical characterization that underpin engineering studies.
Metallurgical and geotechnical results will inform processing recoveries and pit design. From an ESG perspective, the slope-stability data feed into safer mine design and reduced land disturbance. Sustainability is a business case: better data can lower capital expenditure and operational risks.
The operator said assays and technical interpretations will continue to be reported as results are validated. This article is the first in a series that will examine how the new drilling affects the project’s economics and development timetable.
Mineralogical and structural observations
Selected intercepts from GBR-082 through GBR-091 confirm a laterally extensive, continuous mineralized system. Notable results include GBR-088, which returned 0.65 g/t gold and 0.32% copper over 68.58 metres, including an 18.29-metre interval at 1.22 g/t gold and 0.64% copper (one sample capped at 8 g/t gold). GBR-089 yielded 0.71 g/t gold and 0.31% copper over 54.86 metres, including 22.86 metres at 1.28 g/t gold and 0.43% copper. GBR-091 returned 0.51 g/t gold and 0.22% copper over 68.58 metres, including 22.86 metres at 0.92 g/t gold and 0.34% copper.
Other holes in the campaign produced consistent mineralized envelopes and discrete footwall zones. These zones increase the apparent thickness of the system and suggest lateral continuity between the reported intercepts. Core logging identifies sulphide-rich bands associated with copper-gold mineralization and pervasive alteration adjacent to the main veins.
From an exploration perspective, the assays indicate a robust intercept profile that supports further step-out drilling and resource modelling. Leading companies have understood that early delineation of lateral continuity reduces technical and permitting risk. Sustainability is a business case when it shortens the path to efficient mine planning and lowers long-term environmental footprint.
Dal punto di vista ESG, integrating metallurgical testwork and life-cycle assessment (LCA) early in the program can clarify recoveries and inform scope 1-2-3 emissions estimates. Practical steps include targeted metallurgical sampling, pit-optimisation scenarios, and simple circular-design measures for waste handling. These actions improve capital allocation and can accelerate a value-accretive development timetable.
Next steps for the operator include focused infill and down-dip tests to convert continuous intercepts into a mineable resource and paired metallurgical programs to define recoveries. These measures will determine the project’s economic sensitivity to grade distribution and recovery rates.
These measures will determine the project’s economic sensitivity to grade distribution and recovery rates. The recent drill data from Lucky Strike indicate the same ore controls observed at the Sullivan Zone. Mineralization is concentrated within and beneath a tabular body of quartz monzonite that overlies pyroxenite. The measured geometry shows a core of higher-grade gold and copper flanked by narrower halos aligned with subvertical structural corridors. In the footwall, intercepts record a more mixed copper-gold signature.
Geometry and open potential
The interpreted geometry suggests focused high-grade continuity with peripheral lower-grade envelopes. This pattern typically supports selective mining and staged resource conversion. From an ESG perspective, defining a compact, higher-grade core can reduce waste rock volumes and lower the project’s surface footprint.
Exploration focus should move to testing continuity along strike and down dip where the tabular monzonite projects. Additional step-out drilling and targeted metallurgical programs will clarify recoveries and concentrate characteristics. Sustainability is a business case: tighter geometry and higher recoveries can improve the project’s life-cycle environmental profile and its economic returns.
From an ESG perspective, tighter geometry and higher recoveries can improve the project’s life-cycle environmental profile and its economic returns. Combined thicknesses at Lucky Strike reach up to 125 metres in places. The main mineralized body attains widths up to 75 metres. Deeper footwall intervals range from roughly 20 to 60 metres.
Numerous quartz-filled veins and related structures cut through the zone. Surface expressions of those structures were historically mined as narrow high-grade pits and shallow workings. The Lucky Strike footprint on the western half targeted by current drilling measures approximately 700 by 500 metres. That footprint remains open along strike and at depth.
Historical and recent drilling together suggest the zone could exceed the dimensions of the Sullivan Zone. Sustainability is a business case: focused targeting and selective mining could reduce waste volumes and lower scope 1-2 operational emissions per tonne processed. Leading companies have understood that integrating mine design with circular design and life-cycle assessment improves both ESG metrics and project returns.
Ongoing and planned work
Drilling continues to test extensions along strike and at depth. The programme aims to define continuity of the higher-grade veins and to better quantify widths of the main mineralized body. From an ESG perspective, subsequent work will include updated LCA inputs and scenario testing of recovery improvements. Results will inform resource modelling, mine planning and economic sensitivity analyses.
Results will inform resource modelling, mine planning and economic sensitivity analyses. Drilling remains focused on the western portion of the deposit to infill data gaps and test the continuity of relatively shallow mineralization. Once the planned reverse-circulation holes are completed, the rig will return to the Sullivan Zone to test deeper down-dip continuity.
Next steps toward resource and feasibility studies
Workstreams now prioritise integrating new assay data into a revised resource model. From an ESG perspective, tighter geological continuity and improved recovery assumptions could lower the project’s life-cycle impacts and strengthen the investment case. Sustainability is a business case: higher confidence in the resource reduces capital and operating risk for downstream studies.
Additional metallurgical testwork is underway to refine expected recoveries and process design parameters. Parallel permitting activities continue to clear the path for a broader development study. These activities aim to produce the inputs required for a preliminary feasibility-level assessment.
Practical next steps include updating the block model, running pit- and underground-planning scenarios, and performing an economic sensitivity analysis across recovery, grade and cost assumptions. Leading companies have understood that early integration of metallurgical and permitting data accelerates de-risking and improves capital allocation.
The programme will report results as assays and testwork are completed. The immediate focus is on converting inferred tonnes to higher confidence categories to support a feasibility study and potential development decisions.
P2 Gold will use results from the infill and expansion drill program to prepare an updated mineral resource estimate for the Gabbs project. The company expects to finalise that estimate in the third quarter of 2026. The updated resource will underpin a feasibility study targeted for completion in the fourth quarter of 2026. Those studies will build on a previously released preliminary economic assessment that outlined a potential long-life, mid-size operation with multi-decade life-of-mine projections.
Quality assurance and technical oversight
P2 Gold says it will apply an industry-standard QA/QC program across drilling, sampling and assaying. Procedures will include the systematic insertion of certified reference materials, field blanks and duplicate samples to monitor analytical performance.
Independent laboratories will perform assay work under chain-of-custody protocols. Geological logging and sample handling will follow documented procedures to preserve data integrity. Qualified technical personnel will conduct reviews at each stage.
From an ESG perspective, the company plans to align data collection with best practice reporting frameworks to ensure transparency for investors. Sustainability is a business case, and accurate resource and technical reporting supports responsible capital allocation and environmental planning.
Leading companies have understood that rigorous technical governance reduces execution risk. P2 Gold’s updated resource and the forthcoming feasibility study are intended to refine conversion of inferred tonnes into higher-confidence categories. That conversion will inform mine planning, capital estimates and timing for potential development decisions expected in late 2026.
Concluding perspective
Following the infill and expansion program, all drill samples were prepared and analyzed at ALS Global facilities in Reno and North Vancouver. Analysts used multi-acid digestion with an ICP finish and fire assay for gold. Samples assaying above 10 ppm gold received a gravimetric finish.
A structured QA/QC program accompanied the laboratory work. The program included blanks, certified standards and duplicate samples to monitor accuracy and precision. From an ESG perspective, such controls reduce technical risk and help ensure data integrity for future permitting and community dialogue.
Ken McNaughton, M.A.Sc, P.Eng, chief exploration officer for P2 Gold, is the Qualified Person under NI 43-101 who reviewed and approved the technical content of these results. His oversight aligns the analytical record with regulatory reporting standards.
Sustainability is a business case: robust assay protocols and independent QA/QC strengthen the evidence base that will inform the updated resource estimate, mine planning and capital decisions expected in late 2026.
Lucky Strike RC results reinforce geological model and development pathway
The company reported recent reverse-circulation drilling results from the Lucky Strike Zone. These assays strengthen the geological model and confirm mineral continuity at multiple depths and along structural corridors.
The zone remains open in all directions. Continued drilling and technical studies will refine the resource and support the company’s planned development pathway.
From an ESG perspective, ongoing work will inform mining scenarios and environmental planning. Sustainability is a business case when capital and operational decisions integrate resource certainty with environmental and community risk management.
Investors and stakeholders should expect further assay releases as the program advances. Results will feed into the resource update and feasibility milestones scheduled for late 2026.
Operational focus now shifts to targeted drilling, updated modelling and costed mine design studies. These steps will underpin capital allocation and permit planning as the project moves toward development.
