The playbook — gold · September 15, 2026
Long, thick gold-copper hits push Lucky Strike southwest
P2 Gold drills 118.87 m at 0.62 g/t gold plus 0.22% copper from a single pad, with a higher-grade core — as the stock runs 63% on a flat gold tape.
P2 Gold drilled a fan of holes into the Lucky Strike Zone at its Gabbs project in Nevada and pulled long, consistent gold-copper intercepts. The headline hole, GBR-124, cut 118.87 metres grading 0.62 grams of gold per tonne plus 0.22% copper — modest per tonne, but thick. Inside it sat a richer core of 44.20 metres at 1.12 grams per tonne and 0.33% copper. A companion hole, GBR-129, ran 129.54 metres at 0.69 grams per tonne and 0.22% copper, and it ends in mineralization — the drill stopped in the good rock, not past it. These six holes were all collared from one pad, so they are a fan from a single spot rather than holes spread along strike.
This is a bulk-tonnage story, not a bonanza vein. The gold grades here — roughly 0.3 to 1.1 grams per tonne — are the kind that feed an open-pit model, where value comes from moving lots of rock, not from spectacular assays. The copper co-product does real work, lifting the effective value above a gold-only reading. The company says this pad sits 125 metres southwest of the earlier GBD-021 pad, extending known mineralization by that much, at depths between about 55 and 238 metres down the hole. Ken McNaughton, the company’s Chief Exploration Officer, is the qualified person; assays went to ALS Global in Reno with blanks, standards and duplicates inserted one in twenty. Running the company is Joseph Ovsenek, who took Pretium Resources’ Brucejack mine to production before Newcrest bought Pretium for roughly C$3.5 billion in 2022. The market has noticed: PGLD.V climbed 63% over three months while gold slipped 0.4% and the junior gold index added only 8.1% — an eight-to-one gap on a flat gold tape that reads as company-specific, not a rising tide.
Now the honest part. True widths are not disclosed — the release says outright that “true thickness to be determined,” so these downhole lengths may overstate the real zone, especially in the holes angled 55 to 65 degrees. No cut-off grade or compositing interval is given, so the higher-grade cores can’t be independently reconstructed. The 125-metre step-out is measured pad-to-pad, not from a defined ore boundary. One hole, GBR-125, was lost in a fault zone, and two holes (GBR-123 and GBR-129) end in mineralization, so full widths aren’t bracketed. Watch for more drill results from the southwest extension (timing not stated), plus an updated resource estimate and a feasibility study at a 12-million-tonne-per-year rate, both slated for Q4 2026.