News Summary
The most recent news release (December 18, 2025) confirms the completion of an expanded diamond drilling program at the Rabbit North property near Kamloops, B.C. The company drilled 3,213 meters across 11 holes, slightly exceeding the planned 3,000-meter program. Six holes targeted the “Blue Sky” gold trend, and five holes targeted the “Thunder North” zone. Drilling is now suspended for the holiday season and is scheduled to resume in February 2026. Crucially, the release contains no new assay data; results are pending and expected to be released before the next phase of drilling begins.
Material Impact
The impact of this specific news is neutral to slightly positive in a routine sense.
– Operational Execution: The company demonstrated efficiency by completing the program ahead of schedule and under budget (as noted in the November 25 update), allowing for a slight expansion of meterage.
– Data Gap: For a junior explorer, the “completion” of drilling is a secondary catalyst; the primary catalyst is the assay results. The market is currently in a holding pattern.
– Historical Context: This program follows significant historical hits in late 2024 and mid-2025 (e.g., 31.5m of 4.15 g/t Au and 6.02m of 23.63 g/t Au). The current 11 holes are intended to prove the lateral and vertical continuity of these high-grade zones. Until assays arrive, the “success” of this program is purely operational, not geological.
Catalysts
– Assay Results (January/February 2026): This is the make-or-break catalyst. Look for whether the 50m step-outs at Thunder North and the expansion holes at Blue Sky maintain the grades seen in previous discovery holes (Holes 055, 056, 060, and 062).
– Drill Resumption (February 2026): Evidence that the company has sufficient capital and a clear plan to follow up on the pending assays.
– Resource Definition: Management has hinted at transitioning from exploration to resource definition. Watch for any mention of a maiden mineral resource estimate (MRE) in the first half of 2026.
Materiality Conclusion
The December 18 news is Routine – Neutral. It confirms that the company is active and following its stated timeline, but it does not provide the “Game Changer” data (assays) required to shift the valuation higher. The market has already priced in the commencement of this program, and the current price ($0.19) sits well below the October high of $0.25, suggesting a “wait and see” approach from investors.
