News Summary
The news release on December 18, 2025, reports the completion of a channel sampling program at the No. 1 vein of the Jake Lee gold project in New Brunswick. Key highlights include:
– Completion of 11 channel samples and 52 grab samples from a mineralized quartz vein; results are currently pending.
– Discovery of additional quartz veins and chalcopyrite-bornite mineralization elsewhere on the claim.
– Receipt of a $45,000 grant from the New Brunswick Junior Mining Assistance Program, providing non-dilutive funding for exploration.
Material Impact
The December 18 news is categorized as Routine – Positive. While it shows active advancement of the gold portfolio, it lacks definitive assay data to confirm economic grades.
– The material driver for the company remains the December 11, 2025, announcement where the company reported a significant 74.80-meter intercept grading 0.96% Copper Equivalent (Cu Eq) at the Goodwin project.
– This latest update serves to maintain market interest and demonstrate a diversified exploration strategy (Gold at Jake Lee vs. Cu-Ni-Co at Goodwin) but does not fundamentally re-rate the company in the absence of grades.
– The $45,000 grant is a small but welcome offset to the high costs of exploration for a micro-cap company.
Catalysts
– Assays from the 11 channel and 52 grab samples at Jake Lee (expected Q1 2026).
– Results from the 900 soil samples currently being processed for the Menneval and Jake Lee projects.
– Implementation of the 2026 airborne and down-hole EM surveys at Goodwin to define deeper targets.
– Potential cash/share payments from project partners Nine Mile Metals and Lode Gold Resources, which bolster the balance sheet.
Materiality Conclusion
The most recent news is an incremental update. The materiality of the company’s recent trajectory is tied heavily to the “Farquharson Zone” at Goodwin. The December 18 update on Jake Lee provides “blue sky” gold potential, but investors are currently focused on whether the copper-nickel-cobalt discovery at Goodwin has sufficient scale to attract a major partner.
