P2 Gold Announces First Infill and Expansion Drill Results from Lucky Strike Zone at Gabbs
P2 Gold Announces First Infill and Expansion
Drill Results from Lucky Strike Zone at Gabbs
VANCOUVER, BC
,
Feb. 18, 2026
/CNW/ -
P2 Gold Inc.
("P2" or the "Company") (TSXV: PGLD)
(OTCQB: PGLDF) reports results from the first eight reverse circulation ("RC") drill holes (GBR-074
to 081) drilled at the Lucky Strike Zone as part of the Infill and Expansion Drill Program at its Gabbs
Project located on the Walker-Lane Trend in
Nevada
. Five of the first eight holes drilled at the Lucky
Strike Zone (drill holes GBR-076 to 080) ended in footwall mineralization. A total of 11,500 meters in
70 RC holes are planned for the Lucky Strike Zone as part of the Infill and Expansion Drill Program.
On completion of the drilling underway at the Lucky Strike Zone, the RC drill is expected to return to
the Sullivan Zone for additional drilling to extend the zone down dip. Results from drilling to date
confirm the Mineral Resource model for the Lucky Strike Zone.
Drilling Highlights
Select drill results (see Table 1 below for drill results) from holes GBR-074 to GBR-081 drilled at the
Lucky Strike Zone include:
Hole GBR-079
intersected
0.47 g/t gold and 0.23% copper over 60.96 meters from 39.62
meters downhole
,
including 13.72 meters grading 0.89 g/t gold and 0.39% copper
starting 47.24 meters downhole
and also intersected 0.13 g/t gold and 0.19% copper over
35.05 meters starting 100.58 meters downhole and ending in mineralization;
Hole GBR-080
intersected
0.51 g/t gold and 0.30% copper over 54.86 meters starting
27.43 meters downhole
,
including 15.24 meters grading 0.76 g/t gold and 0.36% copper
starting 28.96 meters downhole
and also intersected 0.18 g/t gold and 0.11% copper over
54.86 meters starting 82.30 meters downhole and ending in mineralization;
Hole GBR-081
intersected
0.53 g/t gold and 0.26% copper over 67.06 meters from 7.62
meters downhole
,
including 12.19 meters grading 0.84 g/t gold and 0.39% copper
starting 35.05 meters downhole
and also intersected
0.42 g/t gold and 0.10% copper over
36.58 meters starting 74.68 meters downhole
.
The available drill data confirms that the ore controls at Lucky Strike are the same as at the Sullivan
Zone where mineralization is localized within and below a tabular unit of quartz monzonite underlain
by pyroxenite. This mineralization is gold dominant and gives way to copper-gold mineralization in the
footwall of the main mineralized body. At Lucky Strike, the deeper footwall mineralization ranges in
thickness from 20 meters to 60 meters and with the main mineralized body ranging up to 75 meters
thick forms a continuous zone with a combined thickness of up to 125 meters thick. There are
numerous quartz filled structures that cut across the Lucky Strike zone which come to surface and
were exploited historically as narrow, high-grade pits and shallow workings. Where these structures
cross the main body of mineralization, they locally develop 2 to 5 meter halos of higher-grade gold
and copper mineralization.
Since the start of the Program in
October 2025
, a total of 51 RC drill holes have been drilled, with
24 holes drilled at the Sullivan Zone and 27 holes drilled at the Lucky Strike Zone. The diamond drill
has completed 16 metallurgical and slope stability geotechnical holes to date. Assays will continue to
be reported over the coming months.
On completion of the Infill and Expansion Drill Program, an updated Mineral Resource estimate will
be prepared for
Gabbs
, which is expected to be completed in mid-2026. The updated Mineral
Resource estimate will form the basis of a feasibility study on placing Gabbs in production, which is
expected to be completed in the fourth quarter of 2026.
Plan maps and sections for drill holes GBR-074 to 081 of the Gabbs Expansion and Infill Drill
Program are available
here
.
Table 1: Selected Gabbs Drill Results,
February 2026
(GBR-074 to GBR-081)
(1, 2)
Hole
Collar
Coords
Dip/
Azimuth
From
(m)
To
(m)
Interval
(m)
Gold
(g/t)
Copper
(%)
GBR-074
N4293840/
E414786
-90/0
89.92
111.25
21.34
0.42
0.18
GBR-075
N4293840/
E414786
-50/60
85.34
105.16
19.81
0.11
0.16
GBR-076
N4293840/
E414785
-55/140
83.82
92.96
9.14
0.17
0.15
FM
(3)
123.44
137.16
(EOH)
13.72
0.13
0.19
GBR-077
N4293780/
E414889
-90/0
12.19
64.01
51.82
0.49
0.25
FM
64.01
85.34
21.34
0.15
0.10
FM
94.49
135.64
(EOH)
41.15
0.09
0.17
GBR-078
N4293780/
E414889
-60/45
10.67
57.91
47.24
0.42
0.21
FM
57.91
140.21
(EOH)
82.30
0.18
0.15
GBR-079
N4293780/
E414889
-50/315
39.62
100.58
60.96
0.47
0.23
Incl
47.24
60.96
13.72
0.89
0.39
FM
100.58
135.64
(EOH)
35.05
0.13
0.19
GBR-080
N4293780/
E414889
-50/225
27.43
82.30
54.86
0.51
0.30
Incl
28.96
44.20
15.24
0.76
0.36
FM
82.30
137.16
(EOH)
54.86
0.18
0.11
GBR-081
N4293773/
E414882
-60/135
7.62
74.68
67.06
0.53
0.26
Incl
35.05
47.24
12.19
0.84
0.39
FM
74.68
111.25
36.58
0.42
0.10
(1)
True thickness to be determined.
(2)
All samples were submitted for preparation by ALS Global at its facilities in Reno, Nevada, with the analysis completed at ALS Global facilities in Reno, Nevada, and North
Vancouver, British Columbia. All samples were analyzed using multi-digestion with ICP finish and fire assay with AA finish for gold. Samples with over 10 ppm gold were
fire assayed with a gravimetric finish. One in 20 samples was blank, one in 20 was a standard sample, and one in 20 samples had a sample cut from assay rejects
assayed as a field duplicate.
(3)
FM means footwall mineralization.
(EOH)
means End of Hole.
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
, where work to support a feasibility study is
underway. A positive preliminary economic assessment has outlined a long-life, mid-size mine
at Gabbs with annual average production of 109,000 ounces gold, 15,000 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 first 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 the 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 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 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.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/February2026/18/c0944.html
%SEDAR: 00045664E
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 18-FEB-26