Cambria Gold Mines drills 98.56 g/t gold over 8.2m at Silver Coin
The infill assays will inform an updated resource and feasibility study for the Premier mill restart in British Columbia.
Mara Quinlan
Cambria Gold Mines Inc. CVECAMB OTCMKTSCAMVF reported on Sunday that hole SC26-2714 returned 98.56 grams per tonne gold over 8.2 metres at Silver Coin, near Stewart, British Columbia. The infill results will inform a resource update and feasibility study for the restart of its 2,500-tonne-per-day Premier mill.
Shares fell 1.39 per cent to C$0.71 on the TSX Venture Exchange at 4 p.m. EDT on Friday, according to CVECAMB. That close preceded Sunday's announcement.
The headline interval started 73.7 metres down hole and included 794.00 grams per tonne over 1.0 metre. It is a drilled length, with estimated true width at 68 per cent of the reported interval, according to the assay table.
Cambria reported four holes totalling 657 metres, its first Silver Coin infill assays of 2026. Results from more than 14,000 metres of drilling will inform the resource update and feasibility study, targeted for the first half of 2027.
Cambria's Oct. 5 construction update said its existing resource and reserve estimate dates from 2021. The company is remodelling geological units and mineralized zones, replacing an approach based on grade shells, to increase confidence in grade and structure.
Silver Coin is five kilometres north of the mill, with an existing haul road. Cambria plans to combine its material with high-grade feed from the Premier deposit while Red Mountain is developed.
The campaign focuses on the southern extension of an area previously mined underground. Cambria is modelling both vertical and flat-lying mineralized domains, with the highest grades associated with visible gold inside wider breccia and vein zones.
"High gold grades over potentially underground bulk mineable widths at the Silver Coin Deposit makes this area a priority for underground development in the spring of 2027," chief executive Robert McLeod said in the release.
Hole SC26-2710 also returned 22.62 grams per tonne over 4.4 metres. A separate interval in the same hole yielded 3.75 grams per tonne over 20.0 metres.
Cambria calculated the main composites using a cut-off of one gram per tonne gold, allowing up to three metres of consecutive internal waste. The higher-grade included intervals used a cut-off of 10 grams per tonne.
Read more: Auriginal Mining reports 45.5m gold intercept ahead of Roger resource update
The Oct. 5 update reported more than C$45.9 million received through warrant exercises. Cambria also identified water treatment as a priority because the plant had struggled to comply with zinc discharge limits.
Cambria targets mill commissioning in the fourth quarter of 2027, with ramp-up through 2028. Infill drilling is expected to continue through 2026 and into 2027.
A second phase of underground drilling is planned for early 2027, ahead of the resource estimate and feasibility study targeted for the first half of 2027.
