Lapon Canyon Drilling Returns 2.07 g/t Gold Over 47.3 Metres; Resource Estimate Slips to 2027
NGLD is trading near its 52-week low of $0.342 (5.2% above the low).
Summary
Nevada Canyon reported 2026 RC drill results from Lapon Canyon, where it is earning 50% under a $5M three-year earn-in with Walker River. The headline hole, LC-26-175, cut 2.07 g/t Au over 47.25 m from 80.77 m, including 3.07 g/t Au over 30.48 m; LC-26-179 returned 2.02 g/t Au over 48.77 m including 6.61 g/t Au over 7.62 m, and LC-26-183 hit 3.63 g/t Au over 12.19 m. The intervals are sampled lengths, not true widths, and several holes were lost or terminated early due to ground conditions. Management said the initial NI 43-101 resource estimate now slips to the first half of 2027 from assay-lab backlogs and slower drilling, a delay of roughly a quarter. For a micro-cap explorer, the grade and thickness support the thesis, but the resource catalyst moved out and the company continues funding the program from its own balance sheet.
At the time of this announcement, NGLD was trading at $0.36 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $10.3M. The 52-week trading range was $0.34 to $0.94. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: TMX Newsfile.