Announcement • Jun 15
Spanish Mountain Gold Reports Assay Results From 2025-2026 Diamond Drill Program on Spanish Mountain Gold Project
Spanish Mountain Gold Ltd. provided assay results from eight diamond drill holes completed as part of its 2025-2026 Diamond Drill program on the Spanish Mountain Gold project, located in the Cariboo Gold Corridor, British Columbia, Canada. Approximately 28,500 metres of drilling has been completed to date as part of the 2025-2026 Drill Program, which includes 13,400 m of a planned 60,000 m drilling program related to the 2026 Feasibility Drill Program initiated in March 2026. Assay results are pending for 19 additional drill holes. 26-DH-1362 returned 100.1 m of 0.88 grams/tonne gold from 8.3 m, including 33.9 m of 2.24 g/t gold from 72.0 m and 9.0 m of 7.46 g/t gold from 96.9 m. 26-DH-1361 intersected 221.8 m of 0.74 g/t gold from 128.0 m, including 100.0 m of 1.00 g/t gold from 231.0 m and a high-grade subset of 24.35 m of 2.06 g/t gold from 306.65 m. 26-DH-1366 intersected 339.0 m of 0.51 g/t gold from 26.0 m, including 138.8 m of 0.79 g/t gold from 160.1 m and 41.9 m of 1.09 g/t gold from 160.1 m. 26-DH-1363 intersected 20.5 m of 1.75 g/t gold from 36.5 m and 12.0 m of 1.37 g/t gold from 208.0 m within a broader interval of 331.5 m of 0.42 g/t gold from 36.5 m. The Main Deposit exhibits two principal mineralization styles. The early-stage mineralization is strata bound mineralization hosted primarily within carbonaceous argillite units, particularly at or near the contact with tuff and greywacke units. The late-stage mineralization consists of quartz veins where visible gold is commonly associated with galena, sphalerite and pyrite. The 2025-2026 Drill Program was designed to test both styles of mineralization with a preferred drill orientation of azimuth 120° and a dip of -60° (drilling toward the southeast). Results from these eight holes confirm grade continuity across multiple structural zones within the Main Deposit, with several intercepts exceeding 200 m in width and multiple high-grade subsets. The direct comparison between holes drilled at the preferred 120° azimuth and adjacent holes drilled vertically confirms that the preferred orientation yields higher grades within the Orca Fault Corridor. Results from the easternmost holes (26-DH-1362, 26-DH-1364, and 26-DH-1365 on Section C-C) confirm near-surface continuity of Orca-style structures between Fault 2 and Fault 3. 26-DH-1360, collared 65 m southwest of 26-DH-1339, confirms the strike and down-dip continuity of the Orca fault trend between Faults 1 and 2. 26-DH-1361 intersected 221.8 m of 0.74 g/t gold from 128.0 m, including 100.0 m of 1.00 g/t gold from 231.0 m and a high-grade subset of 24.35 m of 2.06 g/t gold from 306.65 m. 26-DH-1359 returned high-grade subsets of 17.5 m of 1.34 g/t gold from 144.5 m and 17.0 m of 1.30 g/t gold from 252.0 m. 26-DH-1363 intersected 331.5 m of 0.42 g/t gold from 36.5 m, including a near-surface interval of 30.7 m of 1.22 g/t gold from 36.5 m with a high-grade subset of 20.5 m of 1.75 g/t gold from 36.5 m, and a deeper zone of 99.2 m of 0.57 g/t gold from 150.8 m. 26-DH-1366 returned 339.0 m of 0.51 g/t gold from 26.0 m, including 247.0 m of 0.59 g/t gold from 118.0 m, 101.5 m of 0.69 g/t gold from 118.0 m, 138.8 m of 0.79 g/t gold from 160.1 m, and an internal high-grade zone of 41.9 m of 1.09 g/t gold from 160.1 m. 26-DH-1362 returned 100.1 m of 0.88 g/t gold from 8.3 m, including 33.9 m of 2.24 g/t gold from 72.0 m and 9.0 m of 7.46 g/t gold from 96.9 m. 26-DH-1364 returned 53.6 m of 0.52 g/t gold from 47.0 m, including 2.0 m of 1.88 g/t gold from 66.0 m and 9.05 m of 1.90 g/t gold from 91.55 m. 26-DH-1365 returned 43.45 m of 0.35 g/t gold from 53.75 m, including 11.3 m of 0.40 g/t gold from 53.75 m, 21.75 m of 0.45 g/t gold from 75.45 m, and 6.2 m of 0.96 g/t gold from 90.0 m. 26-DH-1365 also returned 5.15 m of 0.81 g/t gold from 202.80 m. 26-DH-1360, collared 65 m southwest of 26-DH-1339, confirms the down-dip continuity of the Orca fault trend between Faults 1 and 2, returning high-grade subsets of 38.1 m of 0.42 g/t gold from 113.9 m, 7.5 m of 0.44 g/t gold from 95.0 m, and 17.4 m of 0.45 g/t gold from 189.6 m. Reported intersections are calculated using a 0.15 g/t Au cut-off grade. With maximum inclusion of 10 consecutive samples below cut-off grade. The complete assay table is available on the Company’s website. True thickness of mineralization is unknown as the Project is still at the exploration stage. Once received from the drill and processed, all drill core samples were sawn in half, labeled, and bagged. The remaining half of the drill core was securely stored on-site. Numbered security tags were applied to sample shipments to ensure chain of custody compliance. The Company inserts quality control (QC) samples at regular intervals, including blanks and reference materials, for all sample shipments to monitor laboratory performance. Standards, blanks, preparation and field duplicates account for a minimum of 20% of the samples in addition to the laboratory's internal quality assurance programs. The QAQC program was overseen by the Company's Qualified Person, Julian Manco, P.Geo., Director of Exploration. The data verification process involved a multi-step approach to ensure accuracy and integrity. This included a detailed quality control (QC) analysis of the data, which was performed using both internal and external platforms, such as the MxDeposit software. These QC checks involved the analysis of certified reference materials (CRMs), blanks, and duplicates to confirm the reliability of the assay results. In addition, a field inspection of the specific drill intervals mentioned in this release has been conducted to directly observe the geological features and verify the nature of the results presented. Drill core samples were submitted to MSALABS's analytical facility in Prince George, British Columbia, for sample preparation and PhotonAssay analysis. The MSALABS facilities are accredited to the International Standards ISO/IEC 17025 and ISO 9001 standard for gold and multi-element assays, with all analytical methods incorporating quality control materials at defined frequencies and established data acceptance criteria. MSALABS Inc. is independent of the Company. The PhotonAssay method utilizes gamma ray analysis for gold detection using the Chrysos PhotonAssay instrument (PA1408X). This non-destructive, fully automated technique offers high accuracy for analyzing ores and pulps. Sample preparation begins with drying and crushing up to 1 kg of material to achieve at least 70% passing through a 2-millimetre sieve. The sample is then riffle split to obtain a suitable aliquot for 2 testing cycles (MSALABS Method CPA-Au1). The PhotonAssay instrument bombards 400- to 600-gram samples contained in sealed containers with gamma rays. Each sample is accompanied by a reference disc traceable to a Certified Reference Material (CRM).
