Shovelnose Gold Update
Dundee Corporation Reports Strong Drilling Results, Advancing Shovelnose Gold Project
Anonymous
Dundee Corporation (TSX: DC.A) has released a fourth batch of assay results from its ongoing 35,000-metre resource infill drilling program at Westhaven's Shovelnose Gold and Silver Project in southern British Columbia, according to Montreal Gazette. The results continue to build confidence in the project's South Zone, showing strong grade thickness across the deposit.
The drilling program is designed to infill the deposit at roughly 25-metre spacing. Results are expected to feed into an updated mineral resource estimate that will support a pre-feasibility study (PFS) — a detailed technical and economic assessment — targeting completion in the second half of 2027, Chatham Daily News reported.
South Zone Results Keep Building the Deposit's Case
The fourth batch of results comes from the company's 2026 exploration season. The Sudbury Star noted that results across the program have consistently shown the grade thickness characteristics that define the South Zone. Grade thickness is a key measure in mining — it combines how rich the ore is with how wide the ore body runs.
The infill drilling strategy — filling gaps between existing drill holes — is a standard step before companies move toward a pre-feasibility study. Drilling at 25-metre centres gives geologists a tighter picture of where the gold and silver actually sit in the ground.
Dundee's $85 Million Earn-In Deal with Westhaven Explained
Dundee recently locked in a strategic earn-in agreement with Westhaven Gold. Under the deal, Dundee can earn up to a 60% interest in Westhaven's four Spences Bridge Gold Belt properties, Brantford Expositor reported. To get there, Dundee must spend up to $85,000,000 in staged project expenditures.
An earn-in agreement lets one company gain ownership in a project by funding work over time — rather than paying upfront. The staged structure means Dundee can step in gradually as results justify more spending. The Spences Bridge Gold Belt is a well-known exploration corridor in southern British Columbia.
What a Pre-Feasibility Study Means for the Project's Future
The PFS targeted for H2 2027 is a major milestone for any mining project. It goes beyond early-stage exploration to assess whether a deposit can be mined profitably. It covers estimated costs, mine design, and projected gold and silver output. Reaching this stage signals the project is maturing from exploration toward potential development.
Daily Herald Tribune noted that the 35,000-metre program is specifically built to feed the updated mineral resource estimate that underpins the PFS. Completing that estimate with tighter drill spacing reduces uncertainty — a key requirement before major capital decisions are made.
Spences Bridge Gold Belt Draws Continued Investor Focus
The Spences Bridge Gold Belt has attracted growing attention from junior miners and larger players alike. The belt runs through the Nicola and Thompson river valleys in British Columbia. Westhaven's Shovelnose project sits within this belt and has been one of the most actively drilled targets in the region in recent years.
Dundee's multi-property earn-in — covering four separate claims — gives it broad exposure across the belt for up to $85 million in work commitments. That scale of investment signals long-term confidence in the area's gold and silver potential, according to Chatham Daily News.
Sentiment
NeutralNEGATIVENEUTRALPOSITIVE
Publishers
5
Articles
5
Reach
5
Topics
A
AnonymousAuthor
