P2 Gold drilling at Gabbs strengthens case for feasibility study
Five drill holes at Gabbs all hit gold-copper mineralization, as P2 Gold pressed ahead with work tied to a feasibility study and a late-2026 decision.
P2 Gold said drilling at its Gabbs project kept the Sullivan Zone open for expansion, a technical step that could shape whether the small Nye County camp moves closer to a mine decision. All five diamond holes in the latest geotechnical program intersected gold-copper mineralization, and the company is now aiming a 7,500-meter reverse-circulation program at deeper ore that could be folded into a feasibility-study resource estimate.
That matters in Gabbs because a feasibility study is the point where exploration starts to turn into a real development case. P2’s own preliminary economic assessment outlined a long-life, mid-size mine with average annual output of 109,000 ounces of gold and 15,000 tonnes of copper over 14.2 years. In a community of about 162 people, that kind of project could mean more contractor work, payrolls, and tax revenue, but it would also bring a larger industrial footprint, more land-use pressure, and closer scrutiny of water demand and permitting.
The latest drilling covered holes GBD-007 through GBD-010 and GBD-017 at the Sullivan Zone as part of a pit-slope-stability geotechnical program. P2 said the mineralized zone remains open down dip, meaning the deposit may continue deeper than the current drilling has defined. The company said the current Gabbs program began in October 2025 and had reached 70 reverse-circulation holes by June 9, along with 29 metallurgical and slope-stability geotechnical holes and 10 exploration holes before the diamond rig was demobilized at the end of May.
P2 also said another 15,000 meters in 65 holes is planned for the western half of Lucky Strike, plus 7,500 meters in 27 holes at Sullivan. A second reverse-circulation rig was expected to mobilize in early August to focus on infill and expansion drilling at higher-grade Sullivan mineralization down dip, with a feasibility study targeted for the fourth quarter of 2026.
The project already has several pieces in place that matter for a county-scale decision. P2 says the Gabbs property is 100% owned, covers about 4,500 hectares, and includes 543 unpatented lode claims and one patented claim on the Walker-Lane Trend at the northwestern end of the Fairplay Mining District. The site is about 145 miles by paved road from Reno, with access off Highway 361 and power and water on site. P2 also secured 2,500 acre-feet a year of Gabbs Basin water rights, which it says exceeds its estimated process-water demand of about 1,500 acre-feet a year, a major step for any future mine plan.
The bigger question is whether the geology, water, and economics line up tightly enough for a build decision. P2’s drilling suggests the case is improving, but the remaining tests will determine whether Gabbs becomes another advanced Nevada mine study or stays a promising deposit on paper.
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