Spanish Mountain Gold Ltd (TSX-V:SPA, OTC:SPAZF) has launched its 2025 winter exploration diamond drill program at its Spanish Mountain Gold Project in British Columbia.
The program is designed to extend known mineralization and test deeper high-grade zones identified in 2024, the company said in a statement.
Drilling will include around 25 diamond drill holes covering approximately 10,000 metres.
The program will target multiple zones, including the Slipper and K Zones, which have near-surface extensions that could be suitable for low waste strip ratio open pit mining.
Another focus is the Deep New Cataclastic Argillite Horizon, where drilling will follow up on high-grade intercepts from 2024 and assess the potential for underground mining.
Spanish Mountain Gold will also drill the Outcropping Tuff Target, located about 1,350 metres northwest of the 2021 pit-constrained resource. Historical drilling in the area intercepted high-grade quartz structures at depths ranging from 60 to 188 metres, but no drilling has been conducted below this depth.
Drilling will also test the Phoenix Target, a newly modeled zone based on historical drilling, to determine the extent of its potential near-surface mineralized footprint.
CEO Peter Mah said the company is looking for "game changers" in terms of high-grade mineralization and resource growth that could significantly impact the project’s future value. “Drilling conducted will also facilitate locating the project infrastructure away from potential mineralized gold endowment as the company advances towards a fast-tracked build decision by 2027.”
Drilling is expected to begin in the first quarter of 2025.
Shares of Spanish Mountain gained 8% on Monday in Toronto.