Upside Gold extends drilling program at B.C. project
Upside Gold Corp. [UG-CSE, UGODF-OTCQB] said Thursday the company plans to restart diamond drilling at its Kena Gold-Copper project in southeastern British Columbia, adding approximately 1,000 metres of drilling to its expanded 2026 exploration program. Results from additional drilling are expected to be incorporated into the updated mineral resource estimate targeted for the first quarter of 2027.
Upside holds an option to acquire a 100% interest in the Kena Project, which is located approximately 7.0 kilometres south of Nelson, B.C. It consists of 198 mineral claims covering 10,114 hectares, together with 11 crown grants covering 92 hectares.
The Kena Project hosts an historical resource consisting of an indicated resource of 32.1 million tonnes at an average grade o f0.544 g/t gold or 561,000 ounces of gold and an inferred resource of 177.5 million tonnes at an average grade of 0.486 g/t gold or 2.77 million ounces of gold. Resources are reported using the 2014 CIM Definition Standards and were estimated using the 2019 CIM Best Practises Guidelines.
The decision to return to drilling follows geological observations made during the logging of drill core from the company’s recently completed 5,180-metre, 19-hole diamond drilling program. Mineralization observed in core from the South Zone and Kena Copper-Gold Zone was considered by the company’s technical team to warrant additional follow-up drilling.
The additional program will consist of approximately 1,000-metres of diamond drilling, potentially increasing total 2026 drilling at Kena to approximately 6,180 metres, compared with approximately 4,000 metres originally planned.
The new holes will be drilled from existing approved drill pads using modified dip angles and orientations. Detailed core logging suggests that sulphide mineralization and associated hydrothermal alteration may cross-cut the host rock foliation and follow a more sub-vertical orientation, the company said. The additional holes are designed to better test the geometry and continuity of these mineralized trends.
Four drill holes of about 250 metres each are planned across the South Zone and Kena Copper-Gold Zone. “Importantly, both target areas lie outside the footprint of the 2021 historical resource estimate, providing an opportunity to test for gold and copper mineralization beyond the historical resource area,” the company said in a press release.
“We want to make the most of the field season and continue advancing Kena wherever the geology gives us a reason to do so,’’ said Upside Gold CEO Sophy Cesar.
Upside was in the news recently when it raised $5.14 million from a brokered private placement financing. Under the offering, the company issued 1.6 million non-flow-through units priced at $1.25 per NFT unit, 1.21 million flow-through units priced at $1.44 per FT unit, and 800,000 premium flow-through units at a price of $1.735 per Premium FT Unit.
Upside shares were unchanged Thursday at 82.5 cents. The shares trade in a 52-week range of $1.59 and 69 cents.