The Conversation (0)
Canadian Gold Corp. (TSXV: CGC,OTC:STRRF) ("Canadian Gold" or the "Company") is pleased to announce ongoing results from its Phase 4 drill program at the 100%-owned Tartan Mine, near Flin Flon, Manitoba. Encouraging results, especially along the Main Zone's Western Flank, continue to support the plan to move toward a potential mine restart. Highlights include 12.3 gpt gold over 14.0 metres, 8.2 gpt gold over 9.9 metres, and 10.7 gpt gold over 4.5 metres. Canadian Gold is currently in the process of being acquired by McEwen Inc. (NYSE: MUX) (TSX: MUX), with closing expected in early 2026.
Results contained in this news release include the following areas: 1) Main Zone's Western Flank, 2) South Zone (which is parallel to the Main Zone), and 3) prospecting near the Tartan Mine (See Fig. 1, 2, 3 and 4). The continued objective of this drilling has been to increase the number of ounces per vertical metre, which could allow for higher annual gold production in a potential mine restart while driving economies of scale to lower production and development costs.
Tartan Mine: Recent Highlights
Main Zone - Western Flank
Five new holes were drilled along the Main Zone's Western Flank. These holes successfully expanded the mineralization approximately 30 metres west, over a vertical extent of 80 metres (Fig. 2) (from 440 to 520 metres below surface). Highlights include 12.3 gpt gold over 14.0 metres, 8.2 gpt gold over 9.9 metres and 10.7 gpt gold over 4.5 metres. Canadian Gold's exploration team believes there is excellent potential to expand this area further to the west, at depth, and closer to surface.
In addition to discovering additional resources to the west, there remains a good opportunity along the Eastern Flank, which has seen limited drilling at depth. Since beginning this multi-phase drill program, a total of 31 of 35 holes (89%) have successfully intersected what the Company believes to be potentially economic mineralization within the Main Zone.
South Zone
The objective of the ongoing drilling at the South Zone has been to expand the resource size, allowing for a higher production on a potential mine restart. Notable drilling results at the South Zone include 5.2 gpt gold over 5.0 metres in TLSZ25-38W1 and 4.4 gpt gold over 4.0 metres TLSZ25-40, each supported by internal high-grade intervals up to 12.5 gpt Au over 1.0 metre and 8.9 gpt gold over 1.6 metres, respectively (Fig. 3). TLSZ25-41 delivered a particularly significant intercept of 82.0 metres of 1.3 gpt Au, which contained multiple higher-grade sections. Collectively, these intercepts demonstrate the consistent presence of higher-grade lenses within broader mineralized envelopes. The results confirm that the South Zone remains an excellent growth opportunity requiring continued drilling and refinement of the structural controls governing gold distribution to fully evaluate its potential.
Near Mine Target Generation Confirms High-Grade Gold at Surface
Drill target generation on the Tartan West property, which adjoins the Tartan Mine (Fig. 4), commenced in the summer and has confirmed the presence of multiple areas of high-grade gold mineralization. Canadian Gold has an option to acquire 100% of the Tartan West property as detailed in its news release May 16, 2025. Initial work consisted of geological mapping, prospecting, and surface sampling to prioritize areas for trenching and drilling in 2026. Highlights from this work include grab samples that assays up to 28.9 gpt gold and channel samples that assayed up to 28.5 gpt gold. See Fig. 3 for target locations relative to the Tartan Mine.
Canadian Gold has optioned this property on the basis that it offers strong potential to expand the resource base and align with future infrastructure investments. The Tartan Shear extends westward from the Tartan Mine and presents significant exploration potential for hosting similar gold mineralization. A consolidated development strategy with a single processing facility at the Tartan Mine sourcing ore from multiple zones, including potential discoveries along the Tartan Shear Zone, could materially reduce capital intensity on a per-ounce basis while enabling access through existing and planned underground infrastructure.
Table 1. Drilling Assay Highlights
| Drill Hole | From (metres) | To (metres) | Interval1 (metres) | Gold Grade (gpt) | Zone2 |
| TLMZ21-03W4 | 780.95 | 784.75 | 3.80 | 8.1 | MZ |
| Including | 780.95 | 782.00 | 1.05 | 13.4 | |
| TLMZ25-49 | 621.00 | 635.00 | 14.00 | 12.3 | MZ |
| Including | 631.05 | 635.00 | 3.95 | 22.7 | |
| Including | 634.50 | 635.00 | 0.50 | 118.2 | |
| TLMZ25-49W1 | 623.50 | 628.00 | 4.50 | 10.7 | MZ |
| Including | 626.40 | 627.00 | 0.60 | 34.4 | |
| TLMZ25-49W2 | 627.10 | 637.00 | 9.90 | 8.2 | MZ |
| Including | 636.20 | 637.00 | 0.80 | 31.6 | |
| TLMZ25-49W3 | 556.80 | 566.10 | 9.30 | 2.3 | MZ |
| Including | 564.00 | 565.00 | 1.00 | 6.6 | |
| TLSZ25-38W1 | 223.00 | 228.00 | 5.00 | 5.2 | SZ |
| Including | 227.00 | 228.00 | 1.00 | 12.5 | |
| TLSZ25-39 | 242.00 | 244.00 | 2.00 | 4.8 | SZ |
| TLSZ25-40 | 352.00 | 356.00 | 4.00 | 4.4 | SZ |
| Including | 354.40 | 365.00 | 1.60 | 8.9 | |
| TLSZ25-41 | 343.00 | 425.00 | 82.00 | 1.3 | SZ |
| Including | 373.00 | 374.00 | 1.00 | 7.2 | |
| Including | 388.00 | 389.00 | 1.00 | 6.5 | |
| Including | 417.30 | 418.05 | 0.75 | 6.4 | |
| TLSZ25-42 | 350.15 | 355.00 | 4.85 | 3.8 | SZ |
| Including | 350.15 | 351.07 | 0.92 | 12.1 | |
| TLSZ25-44 | 371.80 | 376.00 | 4.20 | 2.7 | SZ |
| Including | 375.00 | 376.00 | 1.00 | 5.5 | |
| TLSZ25-46 | 217.00 | 225.00 | 8.00 | 2.4 | SZ |
| Including | 223.00 | 224.00 | 1.00 | 6.2 | |
| TLSZ25-47 | 255.00 | 258.00 | 3.00 | 4.2 | SZ |
| Including | 257.00 | 258.00 | 1.00 | 9.1 | |
| 1Interval widths reported; true widths of the system are not yet known due to lack of drilling. | |||||
| 2SZ and HWZ refers to the South Zone and Hanging Wall Zone. NSA* No significant assay | |||||
Table 2. Details of Drill Holes Reported in This News Release
| Drill Hole | Azimuth (Degrees) | Dip (Degrees) | Length (metres) | Easting (UTM) | Northing (UTM) |
| TLMZ21-03W4 | 225 | -65 | 821 | 324450 | 6082401 |
| TLMZ25-49 | 205 | -68 | 671 | 324450 | 6082401 |
| TLMZ25-49W1 | 205 | -68 | 683 | 324450 | 6082401 |
| TLMZ25-49W2 | 205 | -68 | 686 | 324450 | 6082401 |
| TLMZ25-49W3 | 205 | -38 | 626 | 324450 | 6082401 |
| TLSZ25-38W1 | 011 | -56 | 280 | 324785 | 6081959 |
| TLSZ25-39 | 335 | -58 | 299 | 324943 | 6082011 |
| TLSZ25-40 | 358 | -51 | 380 | 324863 | 6081922 |
| TLSZ25-41 | 008 | -58 | 476 | 324863 | 6081922 |
| TLSZ25-42 | 013 | -54 | 464 | 324863 | 6081922 |
| TLSZ25-43 | 013 | -51 | 458 | 324863 | 6081922 |
| TLSZ25-44 | 003 | -56 | 408 | 324863 | 6081922 |
| TLSZ25-45 | 003 | -61 | 437 | 324863 | 6081922 |
| TLSZ25-46 | 335 | -45 | 241 | 324943 | 6082011 |
| TLSZ25-47 | 345 | -55 | 275 | 324786 | 6081955 |
| TLSZ25-48 | 344 | -50 | 230 | 324786 | 6081955 |
For Further Information, Please Contact:
Michael Swistun, CFA
President & CEO
Canadian Gold Corp.
(204) 232-1373
info@canadiangoldcorp.com
Social Media Accounts:
X (Twitter)
Instagram
Facebook
LinkedIn
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Qualified Person
The scientific and technical information disclosed in this news release was reviewed and approved by Wesley Whymark, P. Geo., Consulting Geologist for the Company, and a Qualified Person as defined under National Instrument 43-101.
Technical Information
The drill core samples collected by Canadian Gold Corp. and described in this news release were transported in secure sealed bags for preparation and assay by either Paragon Geochemical in Surrey, BC or ALS Labs in Thunder Bay, Ontario. The drill core samples reported are NQ size ½ core samples crushed in their entirety to 80% passing -10 mesh, with one 500 g subsample split and analysed for gold by PhotonAssay. The surface samples reported were either field grab and channel samples that were bagged and transported to Paragon Geochemical in Surrey, BC. The entire sample was crushed in their entirety to 80% passing -10 mesh, with one 500 g subsample split and analysed for gold by PhotonAssay.
About Canadian Gold Corp.
Canadian Gold Corp. is a Canadian-based mineral exploration and development company whose objective is to expand the high-grade gold resource at the past producing Tartan Mine, located in Flin Flon, Manitoba. The historic Tartan Mine currently has a 2017 indicated mineral resource estimate of 240,000 oz gold (1,180,000 tonnes at 6.32 g/t gold) and an inferred estimate of 37,000 oz gold (240,000 tonnes at 4.89 g/t gold). (Tartan Lake Project Technical Report, Manitoba, Canada, April 2017 authored by Mining Plus Canada Consulting Ltd.). The Company also holds a 100% interest in greenfields exploration properties in Ontario and Quebec adjacent to some of Canada's largest gold mines and development projects, specifically, the Canadian Malartic Mine (QC), the Hemlo Mine (ON) and Hammond Reef Project (ON). McEwen Inc. (NYSE: MUX) (TSX: MUX) holds a 5.6% interest in Canadian Gold, and Robert McEwen, the founder and former CEO of Goldcorp, and Chairman and CEO of McEwen Inc., holds a 32.5% interest in Canadian Gold.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release of the Company contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Canadian Gold's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
Figure 1. Tartan Mine plan map illustrating the location of the Main and South Zones
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3276/276137_ba30a02154892b62_001full.jpg
Figure 2. Tartan Mine - Main Zone Longitudinal Section
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3276/276137_ba30a02154892b62_002full.jpg
Figure 3. Tartan Mine - South Zone Longitudinal Section
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3276/276137_ba30a02154892b62_003full.jpg
Figure 4. Tartan West property illustrating location of grab and channel sample assay highlights
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3276/276137_ba30a02154892b62_004full.jpg
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276137
