Announcement • Jul 14
Spanish Mountain Gold Ltd. Expands Orca Fault Mineralization Intersecting 80.15 Metres of 0.83 G/T Gold Including 27.2 Metres of 1.92 G/T Gold as Part of Its Feasibility Study Drill Program
Spanish Mountain Gold Ltd. provided assay results from seven diamond drill holes on the Spanish Mountain Gold project, located in the Cariboo Gold Corridor, British Columbia, Canada. The assay results from these drill holes are part of the 2026 Feasibility Drill Program, which was initiated in March 2026 with the objective of increasing resource confidence (infill drilling) and expanding on the current mineral resource. Approximately 17,143 metres of a planned 60,000 metres drilling program has been completed to date. This news release presents results for holes 26-DH-1374 to 26-DH-1380. Assay results are pending for 19 additional drill holes. 26-DH-1376, collared 75 metres northeast of 26-DH-1363, returned 303.18 metres of 0.50 grams per tonne gold from 76.02 metres, including 80.15 metres of 0.83 grams per tonne gold from 205.0 metres with a higher-grade subset of 27.2 metres of 1.92 grams per tonne gold from 242.8 metres, cross-cutting multiple Orca-style higher-grade structures on the western side of the Main Deposit. 26-DH-1379, collared 50 metres northeast of 26-DH-1376, intersected three separate Orca-style mineralization zones, including a broader interval of 107.0 metres of 0.56 grams per tonne gold from 221.0 metres with a higher-grade subset of 53.1 metres of 0.85 grams per tonne gold from 270.9 metres. 26-DH-1378, collared 210 metres southeast of 26-DH-1359, intersected 60.65 metres of 0.93 grams per tonne gold from 39.55 metres and encountered mineralization in the southern part of the deposit between Fault 2 and Fault 3, within the Years 5–10 life-of-mine shells. 26-DH-1375 and 26-DH-1377 extending the Orca Fault Corridor on the eastern margin of the main deposit returned near-surface mineralization starting from 90.2 metres and 15.0 metres, respectively. 26-DH-1375 intersected 95.0 metres of 0.40 grams per tonne gold from 49.0 metres, including 34.8 metres of 0.78 grams per tonne gold from 90.2. 26-DH-1377 intersected 135 metres of 0.32 grams per tonne gold from 15.00 metres including 81.25 metres of 0.40 grams per tonne gold from 38.5 metres. The drilling in the western side of the deposit - tested by 26-DH-1374, 26-DH-1376, and 26-DH-1379 (Sections A-A’ and B-B’) crosscuts multiple higher-grade zones associated with the Orca Fault Corridor, with results confirming structural continuity from near surface to over 370 metres depth. The southern part of the Main Deposit - tested by 26-DH-1378 (Section C-C’), collared 210 metres southeast of 26-DH-1359 - encountered gold mineralization between Fault 2 and Fault 3, within the Years 5–10 life-of-mine shells defined in the 2025 Preliminary Economic Assessment. The eastern part of the Main Deposit - tested by 26-DH-1375 and 26-DH-1377 - continues to deliver higher-grade near-surface mineralization relative to the 2025 mineral resource estimate starting from 15.0 metres (26-DH-1377) and 90.2 metres (26-DH-1375), helping to delineate the structural controls interpreted as part of the Orca Fault Corridor at the eastern margin of the Main Deposit. Higher-grade subsets including 27.2 metres of 1.92 grams per tonne gold from 242.8 metres (26-DH-1376), 53.1 metres of 0.85 grams per tonne gold from 270.9 metres (26-DH-1379), and 60.65 metres of 0.93 grams per tonne gold from 39.55 metres (26-DH-1378) are consistent with Orca-style vein clusters and reinforce the structural model across all three drilled areas. 26-DH-1374, collared approximately 100 metres northeast of 26-DH-1370, demonstrates continuity along the interpreted Orca corridor, intersecting a broad interval of 364.0 metres of 0.24 grams per tonne gold from 9.0 metres, including 80.0 metres of 0.54 grams per tonne gold from 123.0 metres with internal higher-grade zones of 15.7 metres of 0.61 grams per tonne gold from 130.4 metres and 34.0 metres of 0.65 grams per tonne gold from 162.0 metres. 26-DH-1376 is the standout hole of Section A-A’, returning 303.18 metres of 0.50 grams per tonne gold from 76.02 metres, including a high-grade upper zone of 209.13 metres of 0.61 grams per tonne gold from 76.02 metres with 24.83 metres of 1.22 grams per tonne gold from 76.02 metres and 9.7 metres of 2.72 grams per tonne gold from 89.0 metres near surface, a middle zone of 41.0 metres of 0.64 grams per tonne gold from 142.0 metres with 18.14 metres of 1.07 grams per tonne gold from 161.0 metres, and a deeper zone of 80.15 metres of 0.83 grams per tonne gold from 205.0 metres including a higher-grade vein cluster of 27.2 metres of 1.92 grams per tonne gold from 242.8 metres. Mineralization remains open at depth and it is interpreted to be consistent with the top of the third argillite target defined in 2024. 26-DH-1379, collared 50 metres northeast of 26-DH-1376, intersected three separate mineralization zones associated with the Orca Fault Corridor, confirming structural continuity across an interval of 314.0 metres of 0.35 grams per tonne gold from 14.0 metres. Zone 1 (near surface): 22.0 metres of 0.72 grams per tonne gold from 14.0 metres, including 13.0 metres of 1.08 grams per tonne gold from 23.0 metres. Zone 2 (intermediate): 50.5 metres of 0.50 grams per tonne gold from 120.5 metres, including 14.0 metres of 0.78 grams per tonne gold from 151.5 metres. Zone 3 (deep): 107.0 metres of 0.56 grams per tonne gold from 221.0 metres, including 53.1 metres of 0.85 grams per tonne gold from 270.9 metres and a tighter higher-grade interval of 40.35 metres of 0.99 grams per tonne gold from 270.9 metres. Mineralization remains open at depth and along strike. 26-DH-1378, collared 210 metres southeast of 26-DH-1359, was designed to test gold mineralization in the southern part of the Main Deposit between Fault 2 and Fault 3, within the Years 5–10 life-of-mine shells defined in the 2025 Preliminary Economic Assessment and towards the 2025 mineral resource estimate resource pit bottom. The hole intersected 243.1 metres of 0.38 grams per tonne gold from 39.55 metres, including a strong near-surface zone of 60.65 metres of 0.93 grams per tonne gold from 39.55 metres with a high-grade interval of 2.2 metres of 3.97 grams per tonne gold from 98.0 metres and a narrow Orca-style vein of 0.7 metres of 56.61 grams per tonne gold from 57.8 metres.
