Mashwa Minerals Announce Significant Increase in Exploration Target at Drum Canyon Project, Nova Scotia
Mashwa Minerals Ltd. are pleased to announce it has upgraded its gold exploration target at Drum Canyon project in Nova Scotia, Canada.
A new exploration target has recently been developed to highlight the large-scale gold potential at one of the company's flagship sites. Additionally, an independent valuation has also been completed for the site's anticipated yield over the next 5 years, this is due to be made available to shareholders in the fourth quarter of 2026.
HIGHLIGHTS
Large-scale gold exploration target upgraded for Drum Canyon project above and beyond 2027 mineral resource estimate.
The Exploration Target is based on 190 diamond drill and 73 reverse circulation drill holes completed since 2024 over five separate porphyry centers with over 77,808 meters of new diamond drilling, all completed by Mashwa Minerals Ltd.
- Additional sulphide metallurgical work in final stages of completion
- Compelling vectors to a very large-scale system below the surface deposits uncovered
Further drilling is planned to:
- Convert mineralisation within the exploration target into resources;
- Extend current high-grade mineralisation;
- Test seven targets outside of the exploration target
Mashwa Minerals Ltd CEO, Mr. David Martin said, "We have always had a strong belief in the large-scale gold potential at the Drum Canyon site. This larger than expected exploration target outlines the areas we are aiming to convert to resources in the near to mid-term."
"Additionally, our geologists have highlighted a series of compelling geochemical and geophysical vectors which suggest mineralization within this exploration target is just the tip of a much larger porphyry system. We know these systems exist in close by as is currently being mined some 120km to the south of our site and we believe that Drum Canyon is a similar type of system," Martin added.
Further to this, two styles of exploration target have also been defined.
Dr. Trent Hanson, Chief Geologist at Mashwa Minerals Ltd. said, "We are in the final stages of completing metallurgical work on three existing sulphide deposits, which is aimed at increasing the already good recovery assumptions made in the 2025 mineral resource upgrade. Finally, an independent valuation of the project has been completed by independent consultants, SRK. We commissioned this valuation to highlight to the market the disparity between the site's current perceived value and the project's potential real long-term value."
"Our long running objective is to develop the site's next large-scale gold deposit. Our current strategy of seeking high-return options via an oxide gold project is focused on providing the capital needed to advance that larger scale gold project," Hanson added.