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1911 Gold Corporation announced high-grade underground diamond drilling results from the ongoing exploration program at its True North gold mine complex, located in the Rice Lake greenstone belt in Bissett, Manitoba. Underground drill hole TN-26-042 intercepted 16.8 grams per tonne gold over 4.5 meters true width along the Cohiba vein structure, including a bonanza interval of 42.1 grams per tonne gold over 1.2 meters. Drilling from the 26th underground haulage level has confirmed structural continuity of mineralized quartz veins down-plunge toward unmined shear zones.
Concurrently, the company reported third-quarter operating performance from its fully permitted 1,300 tonnes per day True North processing mill and seasonal tailings reprocessing operations. During the summer operating window, the tailings circuit reprocessed 215,000 tonnes of historical tailings grading 0.82 grams per tonne gold, yielding 4,150 ounces of gold and generating 5.4 million dollars in mine-operating cash flow. This non-dilutive operating cash flow directly self-funds underground rehabilitation, diamond drilling, and environmental compliance programs.
The Rice Lake property package encompasses over 63,000 hectares of contiguous prospective mineral tenure covering a 70-kilometer strike length of the crustal-scale Wanipigow fault system. In addition to mine-site exploration, 1911 Gold completed surface mapping and geochemical sampling across the regional Tinney and Apex exploration targets, identifying sheeted quartz-tourmaline vein swarms outcropping at surface. The exploration team noted that regional geophysical signatures mirror archetypal Archean lode gold camps such as Red Lake and Val-d'Or.
Management stated that operating a fully permitted, debt-free milling facility with an operational tailings management complex provides a competitive advantage in the Canadian junior mining sector. The ongoing underground drilling program aims to define initial mineral resources along accessible underground workings, evaluating restart economics for mechanized underground mining. 1911 Gold reiterated its commitment to disciplined capital management, leveraging existing surface infrastructure to expand high-margin gold resources without substantial equity dilution.