P2 Gold: Gabbs Project Exploration Update
P2 Gold: Gabbs Project Exploration Update
VANCOUVER, BC
,
Oct. 2, 2025
/CNW/ -
P2 Gold Inc.
("P2" or the "Company") (TSXV: PGLD)
(OTCQB: PGLDF) reports that it has received the Notices of Extension for the Sullivan and Lucky
Strike Zones from the Bureau of Land Management of
Nevada
to permit drilling at its wholly-owned,
gold-copper Gabbs Project located on the Walker-Lane Trend in
Nevada
.
A reverse circulation drill is being mobilized to site and drilling is expected to commence in mid-
October.
A 4,500-meter drill program has been planned to expand and upgrade the Sullivan Zone Inferred
Mineral Resources to the Indicated category. The Sullivan Zone hosts approximately 60% of the
Gabbs Project Mineral Resources. Expansion drilling is targeting updip and downdip extensions of
the Sullivan Zone and has the potential to increase gold grade. The Sullivan Zone, which is the
largest of the four zones identified to date on the property, remains open in all directions.
The Gabbs Project has an Indicated Mineral Resource of 0.72 million ounces of gold, 2.17 million
ounces of silver and 297.0 million pounds of copper (49.8 million tonnes grading 0.45 g/t gold, 1.36
g/t silver and 0.27% copper) and an Inferred Mineral Resource of 1.28 million ounces of gold, 3.04
million ounces of silver and 567.1 million pounds of copper (112.2 million tonnes grading 0.35 g/t
gold, 0.84 g/t silver and 0.23% copper). (See Gabbs Technical Report dated
May 17, 2024
available under the Company's profile on SEDAR+ and on the Company's website at
www.p2gold.com
.)
Qualified Person
Ken McNaughton
, M.A.Sc., P.Eng., Chief Exploration Officer, P2 Gold, is the Qualified Person, as
defined by National Instrument 43-101, responsible for the Gabbs Project. Mr. McNaughton has
reviewed, verified, and approved the scientific and technical information in this news release.
About P2 Gold Inc.
P2 Gold is a mineral exploration and development company focused on advancing its gold-copper
Gabbs Project on the Walker Lane Trend in Nevada. A positive preliminary economic assessment
has outlined a long-life, mid-size mine at
Gabbs
with annual average production of 104,000 ounces
gold and 13,500 tonnes copper over a 14.2-year mine life. The Gabbs Project has excellent
infrastructure with access via paved Hwy 361, and power and water on site. Additional metallurgical
work is being planned, and a water permit is expected in the fourth quarter of this year. All zones on
the property remain open and additional exploration targets, near surface and at depth, are drill
ready.
Neither the TSX Venture Exchange (the "Exchange") nor its Regulation Services Provider (as that
term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Forward Looking Information
This press release contains "forward-looking information" within the meaning of applicable securities
laws that is intended to be covered by the safe harbours created by those laws. "Forward-looking
information" includes statements that use forward-looking terminology such as "may", "will", "expect",
"anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or
comparable terminology. Such forward-looking information includes, without limitation, information
with respect to the Company's expectations, strategies and plans for its Gabbs Project including the
Company's planned expenditures and exploration activities.
Forward-looking information is not a guarantee of future performance and is based upon a number
of estimates and assumptions of management at the date the statements are made, including
without limitation, the estimated internal rate of return and net present value at a 5% discount rate of
the Gabbs Project, as well as the other assumptions disclosed in this news release. Furthermore,
such forward-looking information involves a variety of known and unknown risks, uncertainties and
other factors which may cause the actual plans, intentions, activities, results, performance or
achievements of the Company to be materially different from any future plans, intentions, activities,
results, performance or achievements expressed or implied by such forward-looking information,
including without limitation, the estimates and assumptions contained in the Gabbs Technical Report
dated
May 17, 2024
, and risks associated with mineral exploration, including the risk that actual
results and timing of exploration and development will be different from those expected by
management. See "Risk Factors" in the Company's annual information form for the year ended
December 31, 2024
, dated
March 21, 2025
filed on SEDAR+ at
www.sedarplus.com
for a
discussion of these risks.
The Company cautions that there can be no assurance that forward-looking information will prove to
be accurate, as actual results and future events could differ materially from those anticipated in such
information. Accordingly, investors should not place undue reliance on forward-looking information.
Except as required by law, the Company does not assume any obligation to release publicly any
revisions to forward-looking information contained in this press release to reflect events or
circumstances after the date hereof.
SOURCE
P2 Gold Inc.
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For further information:
For further information, please contact: Joseph Ovsenek, President &
CEO, (778) 731-1055; P2 Gold Inc., Suite 789, 999 West Hastings Street, Vancouver, BC, V6C
2W2, [email protected], (SEDAR filings: P2 Gold Inc.); Michelle Romero, Executive Vice President,
(778) 731-1060
CO: P2 Gold Inc.
CNW 05:00e 02-OCT-25