1911 Gold unveils resource estimate, eyes production decision in Manitoba
1911 Gold Corp. [AUMB-TSXV] has announced an updated underground mineral resource estimate for the Ogama-Rockland Gold Project, which is located 45 kilometres southeast of its True North mine and mill complex in Manitoba.
The underground resource estimate for Ogama-Rockland is reported from stopes designed using Deswik Mineable Shape Optimizer (MSO) at a 2.50 g/t gold proposed cut-off grade. The inferred resource stands at 3.31 million tonnes containing 712,000 ounces of gold. The company said the resource estimate highlights areas for potential resource growth with additional drilling, expansion potential down-dip and along strike within modelled veins, and gaps within the current resource envelope with the potential to add resources.
Meanwhile additional drilling is planned for the fourth quarter of 2026 to test the areas identified for potential resource expansion.
The new estimate is based on a drill hole database that was rebuilt by 1911 Gold personnel with an effective date of August 6, 2026, containing 99 drill holes with a core length of 34,977 metres and 19,923 individual assay results. Of those drill holes, 79 intersected the modelled vein solids totalling 19,206 assay samples, covering 16,940 metres, and were included in the resource estimate.
The deposit comprises the historic and Ogama and Rockland gold mines, which collectively produced approximately 45,000 ounces of gold at a grade of 11.25 g/t gold between 1948 and 1951 from two main shafts. Prior to formal production, in 1942 the operator shipped 4,100 tons of ore off-site to the Gunnar Gold Mines Ltd. mill located 15 kilometres to the east, adjacent to Beresford Lake.
1911 shares were active on the news, easing 1.37% or $0.01 to 72 cents. The shares trade in a 52-week range of $1.54 and 24 cents.
1911’s portfolio includes 63,000 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba. It also owns the True North mine and mill complex at Bissett. Other assets include numerous past-producing gold operations located within trucking distance of the fully built and permitted True North mine and mill complex. The company is positioning itself to restart operations in 2027.
The updated 2026 resource estimate at Ogama-Rockland represents a key step in 1911 Gold’s strategy of using the existing infrastructure at the True North Complex to develop resources across the Rice Lake district. The company has planned a follow-up surface drill program at Ogama-Rockland for the fourth quarter of 2026.
The updated resource estimate for Ogama-Rockland will be included in the global resource update expected in the fourth quarter of 2026, which will include a resource estimate update for True North. The current exploration drill program at True North includes resource expansion drilling and drilling from the near-mine exploration targets, including the San Antonio Mine West, San Antonio Mine Southeast, and Shore targets. This updated resource may also inform updated mine plans and future potential technical studies to support a potential production decision at True North next year.
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