# Contact Gold Reports 2022 Financial and Operating Results and Provides Corporate Update

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/contact-gold-reports-2022-financial-and-operating-results-and-provides-corporate--2b13735c-f5aa-4e54-b5f4-2d3005af984b

Original source: https://money.tmx.com/en/quote/C/news/6741825415516319/contact-gold-reports-2022-financial-and-operating-results-and-provides-corporate

Publisher: tmx

Original announcement: 2023-04-04T23:25:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Contact Gold Corp.

- Ticker: C

- Exchange: TSX

- Region: Nevada

- Primary commodity: Gold

- Secondary commodities: None reported

- Document categories: Drill results, Resource update, Capital raise

- Extracted: 2026-08-25 03:11:32 UTC

Narrative sentiment: 0.40 · Bullish

## Minestarters Atlas summary

Contact Gold reported its 2022 financial results, highlighting a strategic earn-in agreement with Centerra Gold at the Green Springs project and successful drill intercepts at the Tango and X-Ray targets. The company also announced a $1M private placement and provided an initial mineral resource estimate for the Pony Creek project.

Reasoning: The release combines positive exploration drill results and a strategic partnership with significant financial updates showing a tightening liquidity position.

- Positive factor: Strong drill intercepts at Green Springs \(Tango and X-Ray targets\)

- Positive factor: Strategic earn-in agreement with Centerra Gold

- Positive factor: Successful private placement providing liquidity

- Positive factor: Maiden resource estimate at Pony Creek

- Negative factor: Ongoing net losses

- Negative factor: Significant reduction in cash position year-over-year

Facts used in scoring: 7

## Classification and evidence

**Maiden Resource**

Polarity: neutral

Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component.

Why it applies: The company announced an initial mineral resource estimate at Pony Creek.

Evidence · text

> Announced an initial mineral resource estimate at Pony Creek

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: The Pony Creek resource is stated as 100% inferred.

Evidence · text

> 433,000 inferred pit total constrained ounces

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: The release mentions review and approval by a Qualified Person \(Vance Spalding, CPG\).

Evidence · text

> reviewed and approved by Vance Spalding, CPG, VP Exploration, Contact Gold, who is a “qualified person”

## Extracted facts

Stored fact records: 7. Some facts used in scoring do not have a stored record.

## Drill Results (7)

### GS22-09

[Link to this fact](https://atlas-staging.minestarters.com/news/contact-gold-reports-2022-financial-and-operating-results-and-provides-corporate--2b13735c-f5aa-4e54-b5f4-2d3005af984b#fact-drill-facts-0)

Green Springs · gold

#### Identity

- Hole ID: GS22-09
- Project: Green Springs
- Commodity: gold
- Ticker: C

#### Geometry

- Grade: 0.51
- Grade Unit: g/t
- Intercept: 30.48 m
- From: 4.57 m

#### Classification

- Sample Type: drill
- Group ID: GS22-09:4.57-35.05

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2023-04-04T00:00:00.000Z

Reasoning: Moderate grade over a substantial width.

- Positive factor: Significant width

Evidence · text

> 0.51 grams per tonne \("g/t"\) gold \("Au"\) over 30.48 metres, from a depth of 4.57 metres, in drill hole GS22-09

### GS22-09

[Link to this fact](https://atlas-staging.minestarters.com/news/contact-gold-reports-2022-financial-and-operating-results-and-provides-corporate--2b13735c-f5aa-4e54-b5f4-2d3005af984b#fact-drill-facts-1)

Green Springs · gold

#### Identity

- Hole ID: GS22-09
- Project: Green Springs
- Commodity: gold
- Ticker: C

#### Geometry

- Grade: 1.02
- Grade Unit: g/t
- Intercept: 3.05 m

#### Classification

- Sample Type: drill
- Group ID: GS22-09:4.57-35.05

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2023-04-04T00:00:00.000Z

Reasoning: High-grade component of the GS22-09 intercept.

- Positive factor: Higher grade sub-interval

Evidence · text

> 1.02 g/t Au over 3.05 metres

### GS22-08

[Link to this fact](https://atlas-staging.minestarters.com/news/contact-gold-reports-2022-financial-and-operating-results-and-provides-corporate--2b13735c-f5aa-4e54-b5f4-2d3005af984b#fact-drill-facts-2)

Green Springs · gold

#### Identity

- Hole ID: GS22-08
- Project: Green Springs
- Commodity: gold
- Ticker: C

#### Geometry

- Grade: 0.7
- Grade Unit: g/t
- Intercept: 16.76 m
- From: 3.05 m

#### Classification

- Sample Type: drill
- Group ID: GS22-08:3.05-19.81

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2023-04-04T00:00:00.000Z

Reasoning: Moderate grade intercept.

Evidence · text

> 0.70 g/t Au over 16.76 metres, from a depth of 3.05 metres, in drill hole GS22-08

### GS22-01

[Link to this fact](https://atlas-staging.minestarters.com/news/contact-gold-reports-2022-financial-and-operating-results-and-provides-corporate--2b13735c-f5aa-4e54-b5f4-2d3005af984b#fact-drill-facts-3)

Green Springs · gold

#### Identity

- Hole ID: GS22-01
- Project: Green Springs
- Commodity: gold
- Ticker: C

#### Geometry

- Grade: 1.66
- Grade Unit: g/t
- Intercept: 28.96 m
- From: 9.14 m

#### Classification

- Sample Type: drill
- Group ID: GS22-01:9.14-38.1

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2023-04-04T00:00:00.000Z

Reasoning: Strong intercept at the X-Ray target.

- Positive factor: Strong grade and width

Evidence · text

> 1.66 g/t Au over 28.96 metres, from a depth of 9.14 metres, in drill hole GS22-01

### GS22-02

[Link to this fact](https://atlas-staging.minestarters.com/news/contact-gold-reports-2022-financial-and-operating-results-and-provides-corporate--2b13735c-f5aa-4e54-b5f4-2d3005af984b#fact-drill-facts-4)

Green Springs · gold

#### Identity

- Hole ID: GS22-02
- Project: Green Springs
- Commodity: gold
- Ticker: C

#### Geometry

- Grade: 2.66
- Grade Unit: g/t
- Intercept: 15.24 m

#### Classification

- Sample Type: drill
- Group ID: GS22-02:9.14-24.38

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2023-04-04T00:00:00.000Z

Reasoning: High grade component of the GS22-02 intercept.

- Positive factor: High grade sub-interval

Evidence · text

> 2.66 g/t Au over 15.24 metres

### GS22-04

[Link to this fact](https://atlas-staging.minestarters.com/news/contact-gold-reports-2022-financial-and-operating-results-and-provides-corporate--2b13735c-f5aa-4e54-b5f4-2d3005af984b#fact-drill-facts-5)

Green Springs · gold

#### Identity

- Hole ID: GS22-04
- Project: Green Springs
- Commodity: gold
- Ticker: C

#### Geometry

- Grade: 3.71
- Grade Unit: g/t
- Intercept: 15.24 m

#### Classification

- Sample Type: drill
- Group ID: GS22-04:15.24-30.48

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2023-04-04T00:00:00.000Z

Reasoning: Strong high-grade intercept.

- Positive factor: High grade

Evidence · text

> 3.71 g/t Au over 15.24 metres

### Fact 7

[Link to this fact](https://atlas-staging.minestarters.com/news/contact-gold-reports-2022-financial-and-operating-results-and-provides-corporate--2b13735c-f5aa-4e54-b5f4-2d3005af984b#fact-drill-facts-6)

gold

Historical result

Needs review: historical\_restatement

#### Identity

- Commodity: gold
- Ticker: C

#### Geometry

- Grade: 0.52
- Grade Unit: g/t

#### Compositing

- Cutoff Grade: 0.14
- Cutoff Unit: g/t

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2022-02-28T00:00:00.000Z

#### Dates

- Event date: 2023-04-04T00:00:00.000Z

Reasoning: Initial maiden resource estimate at Pony Creek.

- Positive factor: Maiden resource

- Negative factor: All Inferred

Evidence · text

> 433,000 inferred pit total constrained ounces at an average grade of 0.52 g/t Au

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.