Cambria Drills Bonanza Gold at Premier

Why It Matters

The high‑grade results improve confidence that Premier can achieve commercial-scale output, potentially unlocking over a million ounces of gold and revitalizing a historic Golden Triangle asset. Successful drilling also strengthens Cambria’s financing position and may attract further investment in the region.

Key Takeaways

• 0.5 m section graded 552 g/t gold, 17.75 oz/ton
• Surface hole P26‑2686 averaged 17.95 g/t gold over 22 m
• Underground Prew zone shows >20 g/t gold across multiple intervals
• Cambria increases drill density to enable detailed mine planning
• Fault may truncate deeper mineralization, presenting future exploration opportunity

Pulse Analysis

The Premier Gold Mine, a former 1990s producer located near Stewart, B.C., has long been a focal point for investors seeking high‑grade gold in the Golden Triangle. After Ascot Resources’ restructuring and near‑bankruptcy due to inadequate drill spacing and operational setbacks, Cambria Gold Mines acquired the project, injected fresh capital, and appointed Rob McLeod as CEO. By prioritizing a dense infill drilling campaign, Cambria aims to resolve the geological uncertainties that stalled earlier development, positioning the mine for a modern, 2,500‑ton‑per‑day mill capable of delivering over a million ounces of gold in its first eight years.

The first batch of assay results underscores the value of Cambria’s approach. A surface hole in the 602 Zone intersected a 0.5‑meter interval with an extraordinary 552 g/t gold grade—equivalent to roughly 17.75 ounces per metric ton—while averaging 17.95 g/t over 22 meters. Underground drilling in the Prew Zone revealed multiple intervals exceeding 20 g/t gold, mirroring the historic high‑grade shoots that previously drove production. These findings not only confirm the presence of robust, continuous mineralization but also suggest that the previously identified fault may have truncated deeper ore bodies, opening a new exploration frontier.

Looking ahead, Cambria plans to resume surface drilling in May, expanding into the adjacent Silver Coin and Big Missouri deposits. The enhanced drill density will feed detailed mine‑planning models, reducing risk and supporting a smoother transition to commercial production. For the broader market, a successful restart at Premier could boost supply in a tight gold environment, while reinforcing investor confidence in Canadian junior miners that can effectively de‑risk legacy assets through disciplined exploration. Confidence in the project’s economics is likely to improve financing terms and may attract strategic partners seeking exposure to high‑grade North American gold deposits.