SPA: 1.2 g/t Over 116.8m Within 0.7 g/t Over 282.5m
What you need to know:• SPA reported results from five drill holes at the Orca Fault target, highlighting broad zones and strong grades.
• Results included several wide intercepts, including 0.70 g/t Au over 282.5m and 0.53 g/t Au over 200.2m, with high-grade subsets.
• In combination with increased geological confidence, SPA continues to advance the project with strong results from ore sorting and an MOU for project advancement.
This morning, Spanish Mountain Gold (SPA:TSXV, SPAUF:OTCQB) announced an additional five drill holes within the Orca Fault target that were completed as part of its 2025 Fall Diamond Drill program at the Spanish Mountain Gold project in B.C. Drilling at the Orca Fault target continues to highlight broad, higher-grade mineralization over 530m in strike (northwest to southeast), with continuity now defined across multiple parallel and adjacent sections over 200m in width. Results continue to improve geological understanding and confirm the extent of the Orca Fault target within the open pit MRE area, as tighter spaced drilling demonstrates upside potential within the Main deposit.
SPA continues to make positive steps in de-risking and advancing the project and has announced positive ore sorting results and an MOU for process plant design and tailings dewatering in recent weeks (discussed below). We are maintaining our BUY rating and $0.80/share target price on Spanish Mountain Gold.
Highlights from today’s release:
26-DH-1337:
• 0.70 g/t Au over 282.5m from 91.5m, including 1.20 g/t Au over 116.8m with a high-grade subset of 2.46 g/t Au over 12.2m
26-DH-1334:
• 0.31 g/t Au over 298.0m from 6.0m, including:
o 1.19 g/t Au over 19.0m from 112.5m
o 0.61 g/t Au over 18.5m from 191.5m
o 0.72 g/t Au over 23.0 from 234.5m
26-DH-1335:
• 0.44 g/t Au over 220.6m from 3.0m, including 0.60 g/t Au over 143.6, with a high-grade subset of 1.49 g/t Au over 2.5m
26-DH-1336:
• 0.53 g/t Au over 200.2m from 4.8m, including 0.91 g/t Au over 86.0m with a high-grade subset of 1.93 g/t Au over 9.0m
This morning’s results are highlighted by Hole 26-DH-1337, which returned one of the thickest intercepts with strong grades to date. With a resource grade of
Spanish Mountain Gold is an exploration stage company engaged in the acquisition, exploration and development of mineral properties.
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