Mercator Gold Prospects
Canadian GoldCamps' Mercator System Confirms Strong Gold Continuity and New High-Grade Targets
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Canadian GoldCamps Corp. has confirmed gold mineralization in 82% of samples from a high-resolution resampling program at its Mercator Gold Project in northeastern Québec, according to GlobeNewswire. The results strengthen the case for a continuous, predictable gold system — and set the stage for an aggressive drilling campaign later in 2026.
The company, listed on the CSE as CAMP, used tighter 25-centimeter sampling intervals — four times more detailed than standard practice — to map gold distribution across previously drilled core from the Mercator site. Ninety-one of 111 sub-samples returned gold above detection limits, Ottawa Sun reported.
25 cm Sampling Solves a Stubborn Gold Continuity Problem
Earlier drilling at Mercator — including a 2022 hole that hit 17.8 meters grading 2.62 grams of gold per tonne — produced promising numbers but uneven distribution. The so-called "nugget effect" made it hard to model a reliable resource. Canadian GoldCamps tackled this by cutting samples every 25 centimeters rather than every meter, Edmonton Sun reported.
The finer resolution revealed that gold is not sitting in isolated pockets. President and CEO George Yordanov said the program provided "a more detailed view of gold distribution... demonstrating the widespread distribution and continuity of gold mineralization within the horizons tested." Independent lab Impact Geosciences in Delson, Québec ran the assays, according to Cochrane Times Post.
BIF Zones Point to a District-Scale Gold System
The Mercator project sits in the Opinaca sedimentary basin — the same geological setting as Newmont's Éléonore mine, one of Canada's largest gold mines. The gold at Mercator is hosted in Banded Iron Formations, or BIF — layered sedimentary rocks rich in iron that are known to trap gold-bearing fluids. The property covers 561 square kilometers, roughly 1.2 times the size of the Island of Montreal, Prince George Post reported.
Three new zones — called Unid-1, Unid-2, and Unid-3 — have been flagged for immediate follow-up. The company also noted the presence of löllingite, arsenopyrite, and pyrrhotite alongside gold. These minerals suggest a deep hydrothermal origin, similar to major deposits in Nunavut like Meliadine and Meadowbank, according to Sault This Week.
Stelmine Partnership and $2 Million War Chest Fund the Push
Canadian GoldCamps signed a definitive option agreement with Stelmine Canada Ltd. on April 1, 2026, giving it the right to earn up to an 80% interest in Mercator. Stelmine keeps a 20% stake and a 2% Net Smelter Return royalty — though GoldCamps can buy back half of that royalty for $1 million. A $2 million private placement closed in early 2026 is funding the current work, Pembroke Observer reported.
The agreement requires GoldCamps to complete a Preliminary Economic Assessment within six years. But if confirmatory assays on the high-grade intervals return values above 5 grams per tonne, analysts say the company could fast-track that timeline significantly. The full dataset will also feed into an updated NI 43-101 Technical Report, a key document needed to attract institutional investors or a joint venture partner, according to Weekly Voice.
Bulls See a District Maker; Skeptics Want Grade Confirmation
Canadian GoldCamps frames the 82% sample success rate as proof that Mercator has moved from a "prospect" to a "district-scale" asset. The comparison to Éléonore — which has produced millions of ounces — is central to the company's pitch. Woodstock Sentinel Review noted the company is positioning Mercator as its primary focus over its other Québec property, Courcy.
Not everyone is ready to celebrate. Some market observers point out that "above detection limits" is a low bar. The real test is whether average grades across mineable widths stay high enough to justify the remote location in northeastern Québec. The market is watching for the confirmatory high-grade results Yordanov referenced — those numbers will determine whether the 2026 summer drill program is seen as a game-changer or a waiting game, according to Chatham Daily News.
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