Gemdale Gold Inc. has released results from the final five holes of its Phase 1 2026 drilling programme at the 100% owned Pontio Gold Project in western Finland. The reported work covered three holes in the S1 Sector and two holes in the N1 Sector of the M2 Trend.
The wider programme comprised 5,009m across 28 diamond drill holes. Phase 2 drilling is ongoing, while the company continues work towards a proposed maiden Mineral Resource Estimate targeted for early 2027.
#Results from the S1 Sector
Drillhole PONT096 returned 60.85m at 0.80 g/t Au from 104.17m. The interval included 20.98m at 1.56 g/t Au from 143.09m. The same hole also produced intervals of 36.05m at 0.53 g/t Au from 23.10m and 27.50m at 0.55 g/t Au from 179.11m.
PONT095 delivered 84.72m at 0.52 g/t Au from 81.41m, together with 19.89m at 0.52 g/t Au from 43.14m and 6.94m at 2.25 g/t Au from 199.20m.
Results from PONT094 included 52.69m at 0.62 g/t Au from 201.53m and 3.13m at 1.82 g/t Au from 160.20m.
Gemdale said the S1 drilling has expanded the mineralised porphyry and that estimated true thicknesses are now in the 120 - 150m range. The company has drilled the sector along 100m profiles. Reported intersection lengths are downhole measurements; bulk intersections use a 0.3 g/t gold cutoff with 10m internal dilution, while estimated true widths are 65-85% of downhole intersect length.
#N1 Sector drilling
In the N1 Sector, PONT098 intersected 47.16m at 0.82 g/t Au from 4.50m, including 13.84m at 1.24 g/t Au from 37.14m. PONT097 returned 18.92m at 0.52 g/t Au from 7.30m and 1.01m at 1.93 g/t Au from 68.14m.
The company said the two holes support continuity along the NNE-oriented mineralisation trend. Both holes were collared in mineralised diorite, and Gemdale said the mineralisation may be thicker and extend further eastwards on the relevant profiles. That remains a stated possibility rather than a confirmed result.
#Extent and depth of the Pontio system
Gemdale said gold mineralisation has been intersected across at least 4km of strike on the M2 Trend. The deposit remains open at depth, with an average drill depth of less than 100m along most of the mineralised strike extent.
The company reported that most holes intersected less than 100m vertical depth. In the S1 Sector, the deepest intersection is approximately 180m vertical depth. The reported drilling remains at the exploration stage and does not constitute a current Mineral Resource Estimate for Pontio.
#Phase 2 programme and resource work
Gemdale said Phase 2 drilling was continuing, with five holes completed when the results were announced. The company said the current work was focused on the shallow part of the system and was tightening drill spacing to 50 metres ahead of its planned maiden Mineral Resource Estimate targeted for early 2027.
The company also said its Qualified Person had completed a site visit and that metallurgical testwork was progressing, with results expected later in Q4 to support resource studies. These are company plans and expectations, and remain subject to risks including financing availability, regulatory approvals, exploration and development risks, environmental and permitting matters, operational risks and market conditions.
#Sampling and technical oversight
The drilling was carried out between January 2026 and May 2026. Core was cut in half and sent to ALS Minerals in Outokumpu for preparation and analysis. Gold assays used Fire Assay-AA method Au-AA23, while multi-element analysis used method ME-MS61.
Certified gold reference standards were inserted into the sample stream every 20th sample (5%). Dr. Toby Strauss, Gemdale's Director, President and CEO, reviewed the quality assurance and quality control results and reported that no significant QAQC issues were identified. He is the company's Qualified Person under National Instrument 43-101 and is not independent of Gemdale.
#Other Finnish properties
Gemdale's Finnish portfolio also includes the Isoneva project. The property is subject to an option agreement with Nordique Resources Inc. Under that agreement, Nordique may earn a 100% interest by, among other things, funding exploration expenditures over a three-year period and making additional financial commitments to Gemdale. Further terms of that arrangement apply and are not set out here.
#Key Takeaways
- Gemdale reported results from the final five holes of the 5,009m, 28 diamond drill hole Phase 1 2026 programme at Pontio.
- PONT096 returned 60.85m at 0.80 g/t Au from 104.17m, including 20.98m at 1.56 g/t Au from 143.09m.
- PONT098 returned 47.16m at 0.82 g/t Au from 4.50m, including 13.84m at 1.24 g/t Au from 37.14m.
- Mineralisation has been intersected over at least 4km on the M2 Trend and remains open at depth.
- Phase 2 drilling is ongoing, with a maiden Mineral Resource Estimate targeted for early 2027, subject to the stated risks and conditions.
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