Spanish Mountain Gold Drills Multiple 100-Metre-Plus Intercepts Including 116 Meters Grade 0.60 g/t Gold Confirming Grade Continuity on the Orca Fault
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Spanish Mountain Gold used two QAQC methods to verify the accuracy of the PhotonAssay™ results, both showing good comparability: 1) comparative analysis of different mining styles using Total Au screen metal methods with both FAS-415 (gravimetric finish) and FAS-211 (AAS finish), and 2) both FAS2 tests combined1 (AAS finish).
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Multivariate Analysis
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For the 2026 drilling campaign, Spanish Mountain Gold used the IMS-230 method to provide multi-element determination using four-acid digestion followed by ICP-OES and ICP-MS analysis.
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Qualified Person
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Julian Manco, M.Sc., P.Geo., Director of Exploration at Spanish Mountain Gold, is a Qualified Person as defined under National Instrument 43-101 who reviewed the technical information in this news release and approved the content for distribution.
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Spanish Mountain Gold Ltd. Offers Stock Options
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Spanish Mountain Gold Ltd. announces that it has granted 4,420,000 stock options to the Company’s officers and directors pursuant to the terms of the Company’s stock option plan. Each option entitles the holder to receive one Common Share at an exercise price of $0.36 per ten-year Common Share.
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About Spanish Mountain Gold Ltd.
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Spanish Mountain Gold Ltd. focused on the development of the 100% owned Spanish Mountain Gold Project (Project) towards the development of the next gold mine in the Cariboo Gold Corridor, British Columbia. On May 1, 2026, the Company received the first installment of US$22.5 million in connection with the sale of 1.5% NSR to Wheaton Precious Metals for US$55 million (see press release dated May 1, 2026). In Q2, the Company began a feasibility study on the Project, fully funded by a $55 million king auction, which will position the Company to make a construction decision in 2028.
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The Relentless Pursuit for Better Gold means looking for new ways to achieve better financial results that are safe, reduce the impact on the environment and create meaningful sustainability for communities. Information about the Company is available at www.sedarplus.ca and on the Company’s website: www.spanishmountaingold.com.
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“Peter Mah”
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President, Chief Executive Officer and Director
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The company Spanish Mountain Gold Ltd.
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Neither the TSX Venture Exchange nor its Legal Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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FORWARD-LOOKING INFORMATION:
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Other statements and information in this press release include “forward-looking information”. Any statements or information that express or involve discussions regarding assumptions, expectations, beliefs, plans, estimates, intentions, assumptions or future events or performance (usually, but not always, using words or phrases such as “anticipate”, “anticipate”, “believe”, “plans”, “estimates”, “intend”, “targets”, “objectives”, “objectives”, “objectives”, “possible” or your variation or stating that certain actions, events or results “may”, “may”, “possible”, “might” or “will be taken,” occur or be achieved, or negative of any of these terms and similar expressions) are not statements of historical fact and should not be considered forward-looking information. The Company’s forward-looking information is based on the assumptions, beliefs, expectations and opinions of management as of the date of the press release and includes but is not limited to information regarding exploration drilling.
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next to gold mining hosted within the Orca Fault Corridor, the potential to improve the life of mine system in the first 10 years of production,
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receipt of the remaining two installments from
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the sale of 1.5% NSR to Wheaton Precious Metals for US$55 million,
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the results of the feasibility study, and the timeline for making the decision to build. Except as required by applicable securities laws, the Company does not undertake any obligation to update forward-looking information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking information.
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Table 6: Drilling Column Information for Drilling Holes
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|
Port ID |
East |
In the north |
Elev (m) |
Azimuth (°) |
Dip (°) |
Depth (m) |
The situation |
Drilling System |
|
26-DH-1338 |
604205.00 |
5827977.00 |
1125.00 |
120.00 |
-60 |
390.00 |
Successfully completed with each design |
2025 Fall |
|
26-DH-1339 |
604192.00 |
5827937.00 |
1126.00 |
120.00 |
-60 |
387.00 |
Successfully completed with each design |
2025 Fall |
|
26-DH-1340 |
604267.00 |
5827952.00 |
1120.00 |
120.00 |
-60 |
371.00 |
Successfully completed with each design |
2025 Fall |
|
26-DH-1341 |
604233.00 |
5827922.00 |
1128.00 |
120.00 |
-60 |
375.00 |
Successfully completed with each design |
2025 Fall |
|
26-DH-1342 |
604249.00 |
5827917.00 |
1128.00 |
120.00 |
-60 |
404.70 |
Successfully completed with each design |
2025 Fall |
|
26-DH-1343 |
604602.00 |
5828075.00 |
1036.00 |
120.00 |
-60 |
228.00 |
Successfully completed with each design |
2025 Fall |
|
26-DH-1344 |
604245.00 |
5828256.00 |
1039.00 |
120.00 |
-60 |
243.00 |
Successfully completed with each design |
2026 Feasibility Study |
|
26-DH-1345 |
604496.00 |
5828158.00 |
1032.00 |
120.00 |
-60 |
109.00 |
It was dumped at 109 m |
2026 Probability |
|
26-DH-1346 |
604283.00 |
5828115.00 |
1088.00 |
120.00 |
-60 |
333.00 |
Successfully completed with each design |
2026 Feasibility Study |
|
26-DH-1347 |
604305.00 |
5828106.00 |
1089.00 |
120.00 |
-60 |
411.00 |
Successfully completed with each design |
2026 Feasibility Study |
|
26-DH-1348 |
604332.00 |
5828091.00 |
1088.00 |
120.00 |
-60 |
348.00 |
Successfully completed with each design |
2026 Feasibility Study |
|
26-DH-1349 |
604141.00 |
5827959.00 |
1130.00 |
120.00 |
-59 |
375.00 |
Successfully completed with each design |
2026 Feasibility Study |
|
26-DH-1350 |
604515.00 |
5827809.00 |
1123.00 |
120.00 |
-60 |
249.00 |
Successfully completed with each design |
2026 Feasibility Study |
|
26-DH-1351 |
604236.00 |
5827984.00 |
1112.00 |
120.00 |
-60 |
402.00 |
Successfully completed with each design |
2026 Probability Learn |
|
26-DH-1352 |
604561.00 |
5827809.00 |
1126.00 |
120.00 |
-60 |
186.00 |
Successfully completed with each design |
2026 Feasibility Study |
|
26-DH-1353 |
604205.00 |
5827611.00 |
1219.00 |
120.00 |
-60 |
333.00 |
Successfully completed with each design |
2026 Feasibility Study |
|
26-DH-1354 |
604219.00 |
5828013.00 |
1106.00 |
120.00 |
-60 |
324.00 |
Successfully completed with each design |
2026 Feasibility Study |
|
26-DH-1355 |
604157.00 |
5827653.00 |
1219.00 |
120.00 |
-60 |
330.00 |
Successfully completed with each design |
2026 Feasibility Study |
|
26-DH-1356 |
604179.00 |
5828017.00 |
1111.00 |
120.00 |
-60 |
399.00 |
Successfully completed with each design |
2026 Feasibility Study |
|
26-DH-1357 |
604146.00 |
5827634.00 |
1221.00 |
120.00 |
-62 |
327.00 |
Successfully completed with each design |
2026 Feasibility Study |
|
26-DH-1358 |
604056.00 |
5827909.00 |
1141.00 |
120.00 |
-63 |
357.00 |
Successfully completed with each design |
2026 Feasibility Study |
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Column coordinates and hole depth will be confirmed in the final survey data entry. Abbreviations: meters = m, grams per ton = g/t, gold = Au.
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View the source version on businesswire.com:
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https://www.businesswire.com/news/home/20260602432710/en/
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