Spanish Mountain Gold posts initial drill results for Spanish Mountain Gold Project, British Columbia
Spanish Mountain Gold Ltd. [TSX-V: SPA; FSE: S3Y; OTCQB: SPAUF] reported the first set of near surface and high-grade results from the 2025 winter exploration diamond drill program for the Spanish Mountain Gold Project located in the Cariboo Gold Corridor, British Columbia, Canada.
Highlights: Main Zone – drilling demonstrated potential for higher grades over long intervals within the historical 2021 pit constrained resource: Hole 25-DH-1281 intersected 123.00 metres grading 1.08 g/t gold from 102.00 metres including an interval of 47.28 metres grading 2.29 g/t gold containing 4.00 metres grading 6.45 g/t Au, 2.00 metres grading 24.56 g/t Au and 2.00 metres grading 10.41 g/t Au. Visible gold (VG) was encountered at a hole depth of 218.00 metres in quartz veins.
Outcropping Tuff – a step-out drill hole on a new near surface target with several high-grade intercepts reinforces gold mineralization growth potential: Hole 25-DH-1275 intersected 62.20 metres grading 0.60 g/t Au, including 5.04 metres grading 4.69 g/t Au containing 1.95 metres grading 9.72 g/t Au and 0.44 metres grading 10.49 g/t Au from 21.00 m.
Phoenix – a large, mineralized target near surface with high grade sections: Hole 25-CCR-049 intersected 105.90 metres grading 0.41 g/t Au, including 4.00 m grading 4.71 g/t Au from 74.95 metres. Hole 25-CCR-050 yielded 246.50 metres grading 0.38 g/t Au from 45.00 metres, including 3.00 metres grading 3.35 g/t Au and 9.30 metres grading 1.76 g/t Au.
Hole 25-CCR-051 intersected 164.67 metres grading 0.27 g/t Au from 80.50 metres, including 35.35 metres grading 0.59 g/t Au, 10.00 metres grading 1.36 g/t Au and 2.00 metres grading 5.27 g/t Au. VG was encountered at 126.86-metre hole depth in a 0.02-metre wide quartz vein.
Main zone: Drill holes 25-DH-1281 and 25-DH-1282 investigated the top third argillite while testing stratigraphical controls within the 2021 pit constrained resource. These findings support the more optimal drill hole orientation which has a higher likelihood of intersecting various mineralization controls within the stratigraphic sequence of the Main Zone including lithology contacts, faults, and steeper high-grade structures. These controls were identified during our 2024 re-logging program, which yielded a new three-dimensional geological and structural model:
Hole 25-DH-1281 encountered 197.00 m grading 0.72 g/t Au containing 123.00 m grading1.08 g/t Au. Hole 25-DH-1282 yielded 211.90 m at 0.36 g/t Au including 100.30 m grading 0.52 g/t Au, containing 16.00 m grading 1.43 g/t Au and within the 16.00 m, 4.00 m grading 2.76 g/t Au. Additionally, starting at 360.30 m depth, the hole intersected 5.70 m grading 2.52 g/t Au.
Outcropping Tuff Target astep-out drill hole was completed 1,350 metres northwest of the 2021 PFS pit constrained resource to test for broad near surface gold mineralization and high-grade:
Hole 25-DH-1275 successfully encountered near-surface and high-grade mineralization in a mafic tuff which is a newly emerging gold host rock type at the project and is interpreted to be like the tuff identified in the upper part of the main deposit and at Phoenix.
This hole encountered 62.20 metres grading 0.60 g/t Au, including 5.04 m grading 4.69 g/t Au, 1.95 m grading 9.72 g/t Au, and 0.44 m grading 10.49 g/t Au from 21.00 m. This hole confirms the potential for more property-wide near surface open pit type gold mineralization that could offer an attractive alternative to deeper mineralization.
Phoenix Target: Drill holes 25-CCR-049, 25-CCR-050, and 25-CCR-051 were drilled to follow up a large target discovered in 2011 and successfully intersected extensive gold mineralization with large intercepts including high grade sections: Hole 25-CCR-049 encountered 105.90 m grading 0.41 g/t Au, including 4.00 m grading 4.71 g/t Au from 74.95 m.
Hole 25-CCR-050 yielded 246.50 m grading 0.38 g/t Au, including 3.00 m grading 3.35 g/t Au and 9.30 m grading 1.76 g/t Au from 45.00 m. Hole 25-CCR-051 intersected 164.67 m grading 0.27 g/t Au from 80.50 m, including 35.35 m grading 0.59 g/t Au,10.00 m grading 1.36 g/t Au and 2.00 m grading 5.27 g/t Au.
Slipper Zone: Drill holes 25-DH-1278, 25-DH-1279, 25-DH-1280 and 25-DH-1283 followed up on the Slipper Zone extending gold mineralization 320 m towards the northwest of the 2021 resource pit outline and included higher-grade mineralization intervals: Hole 25-DH-1279 intersected 78.00 m grading 0.31 g/t Au from 87.00 m including 5.00 m grading 1.51 g/t Au; 25-DH-1283 intersected 5.80 m grading 1.00 g/t Au and 3.20 m grading 1.13 g/t Au from 127.20 m and 173.00 m respectively, along a cataclastic argillite control.
Peter Mah, President & CEO commented, “In addition to accelerating the Project towards a build decision by 2027, we are extremely encouraged by the initial 2025 drill results that continue to demonstrate the significant, low cost to drill, growth potential for increasing near surface and high-grade gold mineralization beyond the 2021 pit constrained resource.”
Spanish Mountain Gold Ltd. is focused on advancing its 100%-owned Spanish Mountain Gold Project towards construction of the next gold mine in the Cariboo Gold Corridor, British Columbia