P2 Gold: Gabbs Project Exploration Update
Original announcement by tmx on
- Company
- P2 Gold Inc.
- Ticker
- PGLD
- Exchange
- TSX
- Region
- Nevada
- Primary commodity
- Gold
- Secondary commodities
- Silver, Copper
- Document categories
- Resource update, Permitting
- Extracted
- 2026-08-21 05:53:21 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
P2 Gold has received BLM notices of extension to permit drilling at the Gabbs Project in Nevada. The company plans a 4,500-meter drill program to upgrade the Sullivan Zone Inferred resources to the Indicated category.
Reasoning: The company is advancing the Gabbs project through permitting and planned resource conversion drilling, though the current resource grades are marginal.
Positive factors
- Permitting milestones achieved with BLM notices of extension
- Planned drilling to upgrade resource category
- Significant existing resource base
Negative factors
- Resource grades are relatively low (0.45 g/t Au Indicated)
Facts used in scoring: 6
Classification and evidence
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: A significant portion of the reported resource is in the Inferred category.
Evidence · text
“an Inferred Mineral Resource of 1.28 million ounces of gold”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: Ken McNaughton, P.Eng., is named as the Qualified Person responsible for the project.
Evidence · text
“Qualified Person Ken McNaughton , M.A.Sc., P.Eng., Chief Exploration Officer, P2 Gold, is the Qualified Person”
Extracted facts
Stored fact records: 6. Some facts used in scoring do not have a stored record.
Resource Estimates (6)
indicatedgoldTonnes: 49800000Grade: 0.45Grade Unit: g/tContained Metal: 720000Contained Unit: ozView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- PGLD
Resource Data
- Category
- indicated
- Tonnes
- 49800000
- Grade
- 0.45
- Grade Unit
- g/t
- Contained Metal
- 720000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-10-02T00:00:00.000Z
Reasoning: Indicated resource grade of 0.45 g/t Au is relatively low.
Negative factors
- Low grade
Evidence · text
“Indicated Mineral Resource of 0.72 million ounces of gold... (49.8 million tonnes grading 0.45 g/t gold...)”
indicatedsilverTonnes: 49800000Grade: 1.36Grade Unit: g/tContained Metal: 2170000Contained Unit: ozView all detailsHide details
Identity
- Commodity
- silver
- Ticker
- PGLD
Resource Data
- Category
- indicated
- Tonnes
- 49800000
- Grade
- 1.36
- Grade Unit
- g/t
- Contained Metal
- 2170000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-10-02T00:00:00.000Z
Reasoning: Byproduct silver resource component.
Evidence · text
“2.17 million ounces of silver... (49.8 million tonnes grading... 1.36 g/t silver...)”
indicatedcopperTonnes: 49800000Grade: 0.27Grade Unit: %Contained Metal: 297000000Contained Unit: lbView all detailsHide details
Identity
- Commodity
- copper
- Ticker
- PGLD
Resource Data
- Category
- indicated
- Tonnes
- 49800000
- Grade
- 0.27
- Grade Unit
- %
- Contained Metal
- 297000000
- Contained Unit
- lb
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-10-02T00:00:00.000Z
Reasoning: Byproduct copper resource component.
Evidence · text
“297.0 million pounds of copper... (49.8 million tonnes grading... 0.27% copper)”
inferredgoldTonnes: 112200000Grade: 0.35Grade Unit: g/tContained Metal: 1280000Contained Unit: ozView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- PGLD
Resource Data
- Category
- inferred
- Tonnes
- 112200000
- Grade
- 0.35
- Grade Unit
- g/t
- Contained Metal
- 1280000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-10-02T00:00:00.000Z
Reasoning: Inferred resource grade of 0.35 g/t Au is low.
Negative factors
- Low grade
- Inferred category
Evidence · text
“Inferred Mineral Resource of 1.28 million ounces of gold... (112.2 million tonnes grading 0.35 g/t gold...)”
inferredsilverTonnes: 112200000Grade: 0.84Grade Unit: g/tContained Metal: 3040000Contained Unit: ozView all detailsHide details
Identity
- Commodity
- silver
- Ticker
- PGLD
Resource Data
- Category
- inferred
- Tonnes
- 112200000
- Grade
- 0.84
- Grade Unit
- g/t
- Contained Metal
- 3040000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-10-02T00:00:00.000Z
Reasoning: Byproduct silver resource component.
Evidence · text
“3.04 million ounces of silver... (112.2 million tonnes grading... 0.84 g/t silver...)”
inferredcopperTonnes: 112200000Grade: 0.23Grade Unit: %Contained Metal: 567100000Contained Unit: lbView all detailsHide details
Identity
- Commodity
- copper
- Ticker
- PGLD
Resource Data
- Category
- inferred
- Tonnes
- 112200000
- Grade
- 0.23
- Grade Unit
- %
- Contained Metal
- 567100000
- Contained Unit
- lb
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-10-02T00:00:00.000Z
Reasoning: Byproduct copper resource component.
Evidence · text
“567.1 million pounds of copper... (112.2 million tonnes grading... 0.23% copper)”
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.