Canadian Gold Resources Provides Corporate and Project Updates
Canadian Gold Resources (TSXV: CAN) has submitted permit applications for a maiden diamond drilling program at its 100%-owned Lac Arsenault Property in Québec. The program includes 36 drill holes totaling 2,345 metres aimed at validating historical high-grade results and establishing an NI 43-101 compliant resource.
Historical work (1975-1996) indicated non-compliant resources ranging from 40,000 tonnes at 15.43 g/t Au and 197 g/t Ag to 200,000 tonnes averaging 9.59 g/t Au. The company's previously announced 5,000-tonne bulk sampling program is temporarily paused pending additional First Nations consultation, with a key meeting scheduled for September 11, 2025.
Additionally, Ken Booth has resigned from the Board of Directors, effective immediately.
Canadian Gold Resources (TSXV: CAN) ha presentato le domande di permesso per un programma iniziale di perforazione diamantina presso la sua proprietà Lac Arsenault, al 100%, in Québec. Il programma prevede 36 fori per un totale di 2.345 metri volti a verificare i risultati storici ad alto tenore e a definire una risorsa conforme al NI 43-101.
I lavori storici (1975-1996) hanno indicato risorse non conformi variabili da 40.000 tonnellate a 15,43 g/t Au e 197 g/t Ag fino a 200.000 tonnellate con una media di 9,59 g/t Au. Il programma di campionamento bulk da 5.000 tonnellate annunciato in precedenza è temporaneamente sospeso in attesa di consultazioni aggiuntive con le Prime Nazioni; un incontro chiave è fissato per l'11 settembre 2025.
Inoltre, Ken Booth si è dimesso dal consiglio di amministrazione con effetto immediato.
Canadian Gold Resources (TSXV: CAN) ha presentado solicitudes de permiso para un programa inicial de perforación diamante en su propiedad Lac Arsenault, 100% de su propiedad, en Quebec. El programa incluye 36 sondajes que suman 2.345 metros con el objetivo de validar resultados históricos de alto grado y establecer un recurso conforme a NI 43-101.
Los trabajos históricos (1975-1996) indicaron recursos no conformes que van desde 40.000 toneladas a 15,43 g/t Au y 197 g/t Ag hasta 200.000 toneladas con un promedio de 9,59 g/t Au. El programa previamente anunciado de muestreo a granel de 5.000 toneladas está temporalmente en pausa a la espera de consultas adicionales con las Primeras Naciones; una reunión clave está programada para el 11 de septiembre de 2025.
Además, Ken Booth ha renunciado al directorio con efecto inmediato.
Canadian Gold Resources (TSXV: CAN)는 퀘벡에 있는 자회사 소유의 100% 보유 Lac Arsenault 광구에서 초기 다이아몬드 시추 프로그램에 대한 허가 신청서를 제출했습니다. 이 프로그램은 역사적 고등급 결과를 검증하고 NI 43-101 규격에 부합하는 자원을 확립하기 위해 총 2,345미터, 36개 시추공을 포함합니다.
과거 작업(1975–1996)은 40,000톤, 15.43 g/t Au 및 197 g/t Ag에서 평균 9.59 g/t Au의 200,000톤까지 비규격 자원을 보고했습니다. 회사가 이전에 발표한 5,000톤 대량 시료 채취 프로그램은 현재 원주민(퍼스트 네이션) 추가 협의가 필요하여 일시 중단되었으며, 핵심 회의가 2025년 9월 11일로 예정되어 있습니다.
또한 Ken Booth가 즉시 효력을 발휘하는 이사회 사임을 제출했습니다.
Canadian Gold Resources (TSXV: CAN) a déposé des demandes de permis pour un premier programme de forage diamanté sur sa propriété Lac Arsenault, détenue à 100%, au Québec. Le programme comprend 36 trous de forage totalisant 2 345 mètres, visant à valider des résultats historiques à haute teneur et à établir une ressource conforme à la norme NI 43-101.
Les travaux historiques (1975–1996) ont indiqué des ressources non conformes allant de 40 000 tonnes à 15,43 g/t Au et 197 g/t Ag à 200 000 tonnes avec une moyenne de 9,59 g/t Au. Le programme d'échantillonnage en vrac de 5 000 tonnes précédemment annoncé est temporairement suspendu en attendant des consultations supplémentaires avec les Premières Nations ; une réunion clé est prévue le 11 septembre 2025.
Par ailleurs, Ken Booth a démissionné du conseil d'administration avec effet immédiat.
Canadian Gold Resources (TSXV: CAN) hat Genehmigungsanträge für ein erstes Diamantbohrprogramm auf dem 100% im Besitz befindlichen Lac Arsenault-Grundstück in Québec eingereicht. Das Programm umfasst 36 Bohrlöcher mit insgesamt 2.345 Metern, um historische hochgradige Ergebnisse zu verifizieren und eine NI 43-101-konforme Ressource zu ermitteln.
Frühere Arbeiten (1975–1996) ergaben nicht konforme Ressourcenschätzungen von 40.000 Tonnen bei 15,43 g/t Au und 197 g/t Ag bis 200.000 Tonnen mit einem Durchschnitt von 9,59 g/t Au. Das zuvor angekündigte 5.000-Tonnen-Bulk-Probeprogramm ist vorübergehend ausgesetzt, bis weitere Konsultationen mit First Nations stattfinden; ein wichtiges Treffen ist für den 11. September 2025 angesetzt.
Außerdem hat Ken Booth mit sofortiger Wirkung sein Amt im Vorstand niedergelegt.
- Historical work suggests significant high-grade potential with estimates up to 200,000 tonnes at 9.59 g/t Au
- Company received permits for 5,000-tonne bulk sampling program
- Project located in favorable mining jurisdiction of Québec with excellent infrastructure
- Bulk sampling program temporarily paused pending additional First Nations consultation
- Historical resource estimates are non-compliant and cannot be relied upon
- Board member Ken Booth resigned
Moncton, New Brunswick--(Newsfile Corp. - September 10, 2025) - Canadian Gold Resources Ltd. (TSXV: CAN) ("Canadian Gold" or the "Company") is pleased to provide an update on its exploration and development activities at its
Applications Submitted for Lac Arsenault Maiden Drill Program
Canadian Gold has submitted permit applications to the Ministère des Ressources naturelles et des Forêts (MRNF) for its maiden diamond drilling program on the Lac Arsenault Property. The proposed program comprises 36 drill holes totalling approximately 2,345 metres, with expected drilling to begin upon permit approval. The objective of the drill program is to take the extensive historical work completed at Lac Arsenault and advance it to modern reporting standards under National Instrument 43-101.
Historical work at Lac Arsenault (1975-1996) outlined non-compliant resource estimates ranging from 40,000 tonnes at 15.43 g/t Au and 197 g/t Ag to approximately 200,000 tonnes averaging 9.59 g/t Au (~61,500 oz Au). These estimates predate NI 43-101 and cannot be relied upon as current resources, but they highlight the project's long-recognized high-grade potential.
Through the upcoming drill program, Canadian Gold intends to:
Twin and verify historical drill holes and channel samples to confirm grades and geometry;
Apply modern QA/QC protocols to establish reliability of the data;
Generate sufficient new drilling data to support an independent mineral resource estimate prepared in accordance with NI 43-101 and CIM Definition Standards;
Convert these historical estimates into a current, compliant mineral resource that can be reported to the market, forming a strong foundation for future project development and valuation.
Management Commentary
"The submission of our first drill permit applications marks an important milestone as we move toward validating the historic high-grade results at Lac Arsenault and establishing an NI 43-101 compliant resource base," stated Ronald Goguen, President & CEO of Canadian Gold. "We believe Lac Arsenault represents a rare opportunity in Québec, one of the world's most proven mining jurisdictions: a project with extensive historical work, strong high-grade potential, and excellent infrastructure. By applying modern exploration standards, we are committed to unlocking this value responsibly while engaging transparently with Québec regulators and local First Nations communities."
Update on Bulk Sampling Program
On July 15, 2025, Canadian Gold announced that it had received permits from the Government of Québec to proceed with a 5,000-tonne bulk sampling program, conditional upon the completion of three shallow water monitoring wells in the vicinity of the proposed sampling area (See July 9, 2025 press release) and an Autorisation pour travaux à impacts (ATI) report.
The Company is ready to drill these wells immediately; however, the Québec's Ministère des Ressources naturelles et des Forêts (MRNF) has since requested that Canadian Gold temporarily pause while it seeks additional input from another First Nations community, located approximately 18 kilometres from the proposed bulk sampling site.
Canadian Gold has already engaged with the Gesgapegiag First Nation community, which is domiciled within the project area, providing full details of the program and receiving no opposition during the allotted feedback period. In compliance with the ATI requirements, the Company is now re-engaging with the Mi'gmawei Mawio'mi Secretariat (MMS), the political and tribal council representing the three Mi'gmaq First Nations in the Gaspé region, to ensure transparency and comply with ATI. In parallel, Canadian Gold continues to work closely with the MRNF to finalize the process and is scheduled to meet jointly with the MMS and MRNF on September 11, 2025, regarding the ATI. At this time, the Company does not anticipate a material delay to the commencement of the bulk sampling program.
Board Resignation
Mr. Ken Booth has resigned as a Director of Canadian Gold, effective immediately, to focus on other professional commitments. The Board thanks Mr. Booth for his valued contributions since the Company's inception and wishes him every success in his future endeavours.
About the Lac Arsenault Project
The Lac Arsenault Property is located in Québec's Gaspé region along the Grand Pabos Fault, part of the Gaspé-Newfoundland tectonic belt. This structure shares geological characteristics with prolific gold-bearing systems such as the Cadillac-Larder Lake Fault Zone in Abitibi and the Cape Ray-Valentine Lake Shear Zone in Newfoundland.
The property hosts multiple high-grade, epithermal-style vein systems, including the Baker, Mersereau, and Dunning veins. Historical exploration outlined significant gold-silver-base metal mineralization, providing a strong foundation for the Company's current work.
Historical Resource Estimate Disclosure (NI 43-101 2.4)
Stevenson, L. (1975): 40,000 tonnes grading 15.43 g/t Au and 197 g/t Ag (Esso Minerals Canada);
Côté, R. (1996): 199,580 tonnes grading 9.59 g/t Au (~61,536 contained oz Au).
These historical estimates predate NI 43-101 and were based on sampling, trenching, and drilling using manual polygonal methods. A Qualified Person has not completed sufficient work to classify the estimates as current mineral resources or reserves. The Company is not treating them as current and further verification is required.
To bring these into compliance, Canadian Gold plans to:
Conduct systematic drilling to confirm grades and geometry;
Complete verification sampling and density determinations;
Build a validated geological model with modern QA/QC protocols;
Commission an independent NI 43-101 compliant resource estimate.
About Canadian Gold Resources Ltd.
Canadian Gold Resources Ltd. (TSXV: CAN) is a junior exploration company advancing three high-grade gold properties totaling ~16,000 hectares in Québec's Gaspé Peninsula. The Company's strategy is to unlock the potential of historically explored assets through modern exploration and development, supported by a management team with a proven track record in discovery and project advancement.
Qualified Person Statement:
The scientific and technical information in this news release has been reviewed and approved by Mark Smethurst, P.Geo., Director of Canadian Gold and a Qualified Person under NI 43-101.
For further information, please contact:
Ronald J. Goguen
President & CEO, Director
Canadian Gold Resources Ltd.
rongoguen@cdngold.com
+1 (506) 857-4090
Investor Relations
investors@cdngold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Canadian Gold trades on the TSX Venture Exchange under the ticker CAN and has 36,667,221 common shares outstanding.
Forward-Looking Statements Disclaimer: Certain information in this release may constitute forward-looking statements under applicable securities laws. These statements are based on assumptions and involve risks and uncertainties. Actual results may differ materially. Readers should not place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/265923
FAQ
What is the size of Canadian Gold's planned drilling program at Lac Arsenault?
What were the historical resource estimates at Lac Arsenault?
Why is Canadian Gold's bulk sampling program at Lac Arsenault currently paused?
What is the purpose of Canadian Gold's upcoming drill program at Lac Arsenault?
Who owns the Lac Arsenault Property?
