P2 Gold's Eight RC Holes Confirm Lucky Strike Resource in Nye County

P2 Gold Inc. reported on Feb. 18, 2026 that the first eight reverse circulation drill holes at the Lucky Strike Zone of its Gabbs Project on the Walker-Lane Trend confirm the project's mineral resource model. The company identified the holes as GBR-074 through GBR-081 and said five of those holes - GBR-076 to GBR-080 - terminated in footwall copper-gold mineralization beneath the main gold-dominant body.

The company said the Lucky Strike Infill and Expansion Drill Program is planned at 11,500 meters in 70 RC holes. Since the program began in October 2025, P2 Gold reported 51 RC holes drilled across the Gabbs Project, with 24 completed at the Sullivan Zone and 27 completed at Lucky Strike as of the Feb. 18 update. P2 Gold also reported that a diamond rig has completed 16 metallurgical and slope-stability geotechnical holes to date.

P2 Gold described the geology at Lucky Strike as consistent with the Sullivan Zone, with mineralization localized within and below a tabular unit of quartz monzonite underlain by pyroxenite. The company characterized the system as gold dominant in the main body and transitioning to copper-gold in the footwall. Reported thicknesses at Lucky Strike include footwall intervals ranging from 20 meters to 60 meters, a main mineralized body up to 75 meters thick, and a combined continuous zone of up to 125 meters in thickness. The release noted numerous quartz-filled structures that outcrop and were historically exploited as narrow, high-grade pits and shallow workings.

P2 Gold said assays will continue to be reported over the coming months as the company completes its infill and expansion work. On completion of the drill program, P2 Gold intends to prepare an updated mineral resource estimate for Gabbs, expected in mid-2026, which the company says will form the basis of a feasibility study on placing Gabbs into production scheduled for completion in the fourth quarter of 2026. The company also indicated the RC rig will return to the Sullivan Zone after Lucky Strike drilling to extend the Sullivan Zone down dip.

Corporate identifiers and recent market snapshots published alongside the company news show P2 Gold trading as TSXV: PGLD and OTCQB: PGLDF. P2 Gold's corporate page listed TSX-V last at CAD$0.82 with volume indicated and OTCQB last at US$0.615 with volume indicated; an independent intraday snapshot showed CAD$0.8250 at one timestamp. The company’s news timeline includes a Nov. 21, 2025 filing of the Gabbs PEA and a series of drill updates in January and February 2026.

The Feb. 18 release frames the next six to nine months as decisive for Gabbs, with ongoing assays, a mid-2026 updated mineral resource estimate and a fourth-quarter 2026 feasibility study expected to determine whether the Gabbs Project in central Nye County advances toward development and potential production.