TORONTO, May 26, 2026 (GLOBE NEWSWIRE) — Dundee Corporation (TSX: DC.A) is pleased to report continued progress on Westhaven Gold Corp’s 2026 exploration program at the Shovelnose gold and silver project in southern British Columbia. Results from an additional 10 drill holes from ongoing mineral resource infill drilling at the South Zone deposit have been released.
Strategic Earn-In Agreement
On February 23, 2026, Dundee completed a strategic earn-in agreement with Westhaven, allowing Dundee to earn up to a 60% interest in Westhaven’s four Spences Bridge Gold Belt properties through staged project expenditures of up to CDN$85,000,000. Under the first phase, Dundee has committed a minimum of CDN$30,000,000, including a fully funded 50,000-meter drill program at Shovelnose. This program is funding the activities outlined in this news release and is expected to continue through the remainder of 2026.
Key Highlights
- 11,514 meters of drilling (40 drill holes) have been completed within the South Zone deposit, representing approximately 33% of the planned mineral resource drilling program.
- Initial drilling focuses on completing ~35,000 meters of mineral resource infill drilling at the South Zone deposit, targeting inclusion in an updated Mineral Resource Estimate (MRE) to support a preliminary feasibility study, with anticipated completion in the second half of 2027.
- Assay results from 10 drill holes are reported in this news release, bringing total reported results to 24 holes (6,102 meters; ~17% of planned infill drilling).
- Notable new results include 33.0 meters grading 14.0 g/t gold and 78 g/t silver, including 8.12 meters grading 47.56 g/t gold and 229 g/t silver (SNR26-73), and 24.63 meters grading 9.51 g/t gold and 44 g/t silver (SNR26-74).
- Three drills are currently conducting mineral resource infill drilling of the South Zone, with a fourth drill approximately one-third of the way through a first phase 1,200-meter hydrogeological drilling program in support of ongoing pre-feasibility studies.
- Airborne geophysical surveys of the Shovelnose property are now complete, with final data processing and reporting to follow by mid-summer, in time to help guide exploration drilling later this year.
Management Commentary
Jonathan Goodman, President and CEO of Dundee, commented: “We are pleased with the early progress of the South Zone mineral resource infill drilling program, which is progressing as planned and reinforces our confidence in the continuity and quality of the deposit. The initial work is enabling us to better define the margins of the mineralized system and provides an important foundation for the next stages of technical work as we advance the project through the joint venture. We look forward to continuing this disciplined, data-driven approach with our partner as we work to unlock the long-term value of the assets.”
