Cambria Gold shares rally on Golden Triangle drill results
Cambria Gold Mines Inc. [CAMB-TSXV, CAMVF-OTCQX] has announced new assay results from an ongoing infill drilling program at its Premier Mining Complex located near Stewart, northwestern British Columbia.
The Premier Gold project is a historic underground gold-silver system, which includes multiple deposits – Premier, Silver Coin, Big Missouri, Dilworth, and Martha Ellen – plus a fully permitted processing facility with a nominal capacity of approximately 2,500 tonnes per day.
Results from four diamond drill holes, covering 657 metres are reported in the company’s latest news release. They are the first drilling results from the Silver Coin Deposit, located north of the Premier Mill with access via an existing haulage road. Highlights include 98.56 g/t gold over 8.2 metres (including 794 g/t gold over 1.0 metre) in hole SC26-2714, and 22.62 g/t gold over 4.4 metres (including 93.80 g/t gold over 1.0 metre) in hole SC26-2710.
Cambria shares advanced on the news, rising 8.45% or $0.06 to 77 cents. The shares trade in a 52-week range of $2.15 and 70 cents.
“High gold grades over potentially underground bulk mineable widths at the Silver Coin Deposit makes this area a priority for underground development in the spring of 2027,” said Cambria President and CEO Robert McLeod. “Our team has outlined a strong geological model of a multi-phased epithermal gold system with multiple, wide mineralized domains, several of which are open for expansion,’’ he said. “Silver Coin is a key deposit bringing both tonnes and grade to the hub-and-spoke complex we are building to support the Premier Mill. We are very encouraged by these results as we look towards restarting production.’’
Cambria is the 100% owner of the Premier and Red Mountain gold projects that are located on Nisga’a Nation Treaty Lands in B.C.’s Golden Triangle area. The company’s portfolio also includes the large Mt Margaret copper-gold-porphyry deposit located in Washington State.
Within Cambia’s development strategy, Premier serves as the infrastructure and processing hub, while Red Mountain is prioritized as the initial source of high-confidence mill feed. Premier is positioned as a secondary production source over time, with contribution expected to increase as resource confidence improves via targeted infill drilling.
Results from over 14,000 metres of drilling at Silver Coin are expected over the next several weeks and will help to inform an updated mineral resource estimate and feasibility study targeted for completion in the first half of 2027. Cambria anticipates infill drilling to continue through 2026 and into 2027, with a planned second phase of underground drilling commencing in 2027.
The northern portion of the Silver Coin deposit was mined in the 1990s by Westin and Tenajon Resources by underground longhole stoping, Cambria’s approach to modelling the Silver Coin deposit is based on operational data and history shared from Robert McLeod’s cousin Bruce McLeod, who led exploration, development and mining programs done at Silver Coin in the 1990s. The southern extension of this area is a focus of Cambria’s ongoing infill drilling campaign. Material from Silver Coin, combined with high-grade from the Premier Deposit, is expected to provide the initial mill feed for the Premier Mill during the restart of mining operations, while construction is the Red Mounain Deposit is completed.