News Summary
The most recent news (December 18, 2025) announces the results of a high-resolution Deep Ground Penetrating Radar (DGPR) survey at the Toogood Gold Project in Newfoundland. Key highlights include:
– The DGPR successfully imaged the gold-hosting felsic dyke at the Quinlan discovery under cover and at depth.
– Interpretation suggests the structure extends 300 metres beyond previous drilling.
– A step-out drill hole (25TG033) successfully intersected the targeted felsic dyke 100 metres along strike from previous drilling, validating the GPR model.
– Assays for this step-out hole are currently pending.
– The company identifies over 50 additional felsic dykes across the property, suggesting the DGPR technique is scalable for district-wide exploration.
Material Impact
This news is Material – Positive for several reasons:
– Technical Validation: The successful correlation between the DGPR imagery and the physical intersection of the dyke in hole 25TG033 reduces exploration risk. It proves the company can “see” the host structure through cover, which is often the biggest hurdle in Newfoundland’s glaciated terrain.
– Strike Extension: Confirming the dyke exists 100m away (and potentially 300m) significantly increases the tonnage potential of the Quinlan discovery.
– Scalability: With 50+ similar dykes identified, this “surgical” targeting method should lead to a higher discovery rate and lower “dead meter” drilling costs in future programs.
– Note of Caution: While the *structure* (the dyke) was found, gold mineralization is often “nuggety” or confined to specific shoots. The market will need to see the pending assays to confirm if the 100m step-out carries the same high grades (e.g., the 14.48 g/t Au reported in Sept 2025) found in the discovery core.
Catalysts
– Assays for Step-out Hole 25TG033: This is the most critical catalyst. Finding the dyke is 50% of the battle; finding high-grade gold within it is the other 50%.
– 2026 Field Season Plans: Watch for a larger drill program designed to test the 300m extension and other GPR-identified targets.
– Regional Sampling Results: Results from the Golden Nugget and Stockley Kennedy properties (acquired late 2025) to see if the “district-scale” narrative holds weight.
– Use of AI: Updates on the partnership with Vrify AI and how it integrates with the GPR data.
Materiality Conclusion
The news confirms that the flagship project is not a “one-hole wonder.” The ability to predict and hit the host structure under cover is a material de-risking event. However, the materiality is tempered by the fact that the actual gold content of the new extension remains unconfirmed until assays are released.
