P2 Gold Intersects 0.90 g/t Gold and 0.34% Copper Over 48.77 Meters, Including 1.61 g/t Gold and 0.49% Copper over 21.34 meters at Lucky Strike Zone
P2 Gold Intersects 0.90 g/t Gold and 0.34%
Copper Over 48.77 Meters, Including 1.61 g/t
Gold and 0.49% Copper over 21.34 meters at
Lucky Strike Zone
VANCOUVER, BC
,
April 8, 2026
/CNW/ -
P2 Gold Inc.
("P2" or the "Company") (TSX-V:PGLD)
(OTCQB:PGLDF) reports results from an additional ten reverse circulation ("RC") drill holes (GBR-
092 to 096 and GBR-102 to 106) 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. A total of 11,500
meters in 70 RC holes is 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-092 to 096 and GBR-102 to
106 drilled at the Lucky Strike Zone include:
Hole GBR-103
intersected
0.66 g/t gold and 0.31% copper over 45.72 meters from 32.00
meters downhole and
intersected
0.90 g/t gold and 0.34% copper over 48.77 meters from
88.39 meters downhole
,
including 21.34 meters grading 1.61 g/t gold and 0.49% copper
starting 102.11 meters downhole
and also intersected 0.13 g/t gold and 0.16% copper over
25.91 meters starting 137.16 meters downhole;
Hole GBR-104
intersected
0.57 g/t gold and 0.34% copper over 42.67 meters starting
33.53 meters downhole
,
including 15.24 meters grading 1.14 g/t gold and 0.51% copper
starting 33.53 meters downhole
and also intersected 0.12 g/t gold and 0.18% copper over
60.96 meters starting 76.20 meters downhole;
Hole GBR-106
intersected
0.61 g/t gold and 0.35% copper over 73.15 meters from 42.67
meters downhole
,
including 21.34 meters grading 1.13 g/t gold and 0.63% copper
starting 48.77 meters downhole
and also intersected 0.12 g/t gold and 0.18% copper over
48.77 meters starting 112.78 meters downhole.
Drill holes GBR-102 to 106 were drilled on the western half of the Lucky Strike Zone and appear to
have intersected a higher-grade core of the zone similar to the higher-grade core of the Sullivan
Zone. This core area is open for expansion to the north and south.
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. As with Sullivan, the higher-grade gold and copper at Lucky strike is at the core of the
zone and at restricted halos around subvertical structures. 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 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.
The Lucky Strike Zone remains open in all directions. Drilling is currently focused on the western half
of the zone, which measures approximately 700 meters by 500 meters, as defined by current and
historical drilling, and is where the relatively shallow mineralization is hosted. This targeted area is
roughly the same size as the Sullivan Zone. Based on available current and historical drill data, the
Lucky Strike Zone has the potential to be significantly larger than the Sullivan Zone.
Since the start of the Program in October 2025, a total of 62 RC drill holes have been drilled, with
24 holes drilled at the Sullivan Zone and 38 holes drilled at the Lucky Strike Zone. The diamond drill
has completed 29 metallurgical and slope stability geotechnical holes to date. Assays will continue to
be reported over the coming months. The RC drill has been demobilized from site with another RC
drill scheduled to mobilize to site at the beginning of May.
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 the third quarter of 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.
Lucky Strike Plan View (CNW Group/P2 Gold Inc.)
Section BB-BB' (CNW Group/P2 Gold Inc.)
Section CC-CC' (CNW Group/P2 Gold Inc.)
Section PP-PP' (CNW Group/P2 Gold Inc.)
Section QQ-QQ' (CNW Group/P2 Gold Inc.)
Table 1: Selected Gabbs Drill Results, April 2026 (GBR-082 to GBR-091)
(1, 2)
Hole
Collar
Coords
Dip/
Azimuth
From
(m)
To
(m)
Interval
(m)
Gold
(g/t)
Copper
(%)
GBR-092
4293989/
414937
-90/0
12.19
41.15
28.96
0.30
0.34
incl
12.19
24.38
12.19
0.53
0.56
FM
(3)
41.15
77.72
36.58
0.18
0.18
GBR-093
4293986/
414938
-60/225
13.72
47.24
33.53
0.47
0.33
incl
15.24
27.43
12.19
0.89
0.55
FM
(3)
47.24
82.30
35.05
0.12
0.20
GBR-094
4293987/
414938
-60/136
12.19
36.58
24.38
0.57
0.34
48.77
124.97
76.20
0.12
0.18
GBR-095
(4)
4293989/
414937
-50/45
18.29
137.16
118.87
0.22
0.25
GBR-096
4293987/
414938
-50/315
24.38
86.87
62.48
0.21
0.23
GBR-102
4293978/
415022
-90/0
30.48
76.20
45.72
0.56
0.33
incl
35.05
48.77
13.72
0.96
0.54
FM
(3)
76.20
121.92
45.72
0.12
0.20
GBR-103
(4)
4293978/
415022
-60/45
32.00
77.72
45.72
0.66
0.31
88.39
137.16
48.77
0.90
0.34
incl
102.11
123.44
21.34
1.61
0.49
FM
(3)
137.16
163.07
25.91
0.13
0.16
GBR-104
(4)
4293982/
415027
-55/315
33.53
76.20
42.67
0.57
0.34
Incl
33.53
48.77
15.24
1.14
0.51
FM
(3)
76.20
137.16
60.96
0.12
0.18
GBR-105
(4)
4293980/
415029
-55/235
30.48
91.44
60.96
0.47
0.30
Incl
32.00
48.77
16.76
0.78
0.46
FM
(3)
91.44
135.64
44.20
0.10
0.15
GBR-106
(4)
4293983/
415023
-60/135
42.67
115.82
73.15
0.61
0.35
incl
48.77
70.10
21.34
1.13
0.63
FM
(3)
112.78
161.54
48.77
0.12
0.18
(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
(4)
Drill hole ended in mineralization.
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. All zones on the property remain open and an infill and expansion drill
program is underway. On completion of drilling, an updated Mineral Resource estimate will be
prepared for Gabbs, which is expected to be completed in the third quarter.
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, 2025, dated March 19, 2026 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; Michelle Romero, Executive Vice President, (778) 731-1060; P2 Gold Inc.,
Suite 1290, 999 West Hastings Street, Vancouver, BC, V6C 2W2, [email protected], (SEDAR
filings: P2 Gold Inc.)
CO: P2 Gold Inc.
CNW 05:00e 08-APR-26