Canadian Gold Resources Secures Permits for Exploration Bulk Sample at Lac Arsenault
Canadian Gold Resources (TSXV: CAN) has secured permits from Quebec's government for a bulk sampling program at its 100%-owned Lac Arsenault Gold Project. The program aims to test 5,000-10,000 tonnes of mineralized materials from the Baker and Mersereau veins.
The company must install three shallow water monitoring wells near the sampling area as a permit condition. Historical estimates from the 1970s indicated 40,000 tonnes grading 15.43 g/t gold and 197 g/t silver, while a 1996 report suggested 199,580 tonnes at 9.59 g/t gold (approximately 61,536 contained ounces). However, these estimates don't comply with current CIM standards and require validation.
The company emphasizes this is an exploration-only initiative, not a production decision, and no economic analysis or feasibility study has been completed.
Canadian Gold Resources (TSXV: CAN) ha ottenuto i permessi dal governo del Quebec per un programma di campionamento bulk presso il suo progetto aurifero Lac Arsenault, di proprietà al 100%. Il programma prevede di testare da 5.000 a 10.000 tonnellate di materiale mineralizzato proveniente dalle vene Baker e Mersereau.
Come condizione del permesso, l'azienda deve installare tre pozzi di monitoraggio delle acque superficiali vicino all'area di campionamento. Stime storiche degli anni '70 indicavano 40.000 tonnellate con una gradazione di 15,43 g/t in oro e 197 g/t in argento, mentre un rapporto del 1996 suggeriva 199.580 tonnellate a 9,59 g/t in oro (circa 61.536 once contenute). Tuttavia, queste stime non rispettano gli standard CIM attuali e necessitano di convalida.
L'azienda sottolinea che si tratta esclusivamente di un'iniziativa esplorativa, non di una decisione produttiva, e che non è stata effettuata alcuna analisi economica o studio di fattibilità.
Canadian Gold Resources (TSXV: CAN) ha obtenido permisos del gobierno de Quebec para un programa de muestreo a granel en su proyecto aurífero Lac Arsenault, de propiedad 100%. El programa tiene como objetivo probar entre 5,000 y 10,000 toneladas de materiales mineralizados de las vetas Baker y Mersereau.
Como condición para el permiso, la compañía debe instalar tres pozos poco profundos para monitorear el agua cerca del área de muestreo. Estimaciones históricas de los años 70 indicaban 40,000 toneladas con una ley de 15.43 g/t de oro y 197 g/t de plata, mientras que un informe de 1996 sugería 199,580 toneladas a 9.59 g/t de oro (aproximadamente 61,536 onzas contenidas). Sin embargo, estas estimaciones no cumplen con los estándares CIM actuales y requieren validación.
La compañía enfatiza que esta es una iniciativa únicamente exploratoria, no una decisión de producción, y que no se ha realizado ningún análisis económico ni estudio de factibilidad.
Canadian Gold Resources (TSXV: CAN)는 퀘벡 정부로부터 100% 소유한 Lac Arsenault 금 프로젝트의 대량 샘플링 프로그램 허가를 받았습니다. 이 프로그램은 Baker와 Mersereau 광맥에서 5,000~10,000톤의 광물화된 자재를 시험하는 것을 목표로 합니다.
허가 조건으로 회사는 샘플링 지역 인근에 3개의 얕은 수질 모니터링 우물을 설치해야 합니다. 1970년대의 과거 추정치는 금 15.43 g/t, 은 197 g/t 등급의 40,000톤을 나타냈으며, 1996년 보고서는 금 9.59 g/t의 199,580톤 (약 61,536 온스 함유)을 제시했습니다. 그러나 이 추정치는 현재 CIM 기준에 부합하지 않아 검증이 필요합니다.
회사는 이번 작업이 생산 결정이 아닌 탐사 목적임을 강조하며, 경제성 분석이나 타당성 조사는 완료되지 않았다고 밝혔습니다.
Canadian Gold Resources (TSXV : CAN) a obtenu les permis du gouvernement du Québec pour un programme d'échantillonnage en vrac sur son projet aurifère Lac Arsenault détenu à 100 %. Ce programme vise à tester 5 000 à 10 000 tonnes de matériaux minéralisés provenant des veines Baker et Mersereau.
En condition du permis, la société doit installer trois puits de surveillance des eaux peu profonds à proximité de la zone d'échantillonnage. Des estimations historiques des années 1970 indiquaient 40 000 tonnes avec une teneur de 15,43 g/t en or et 197 g/t en argent, tandis qu'un rapport de 1996 suggérait 199 580 tonnes à 9,59 g/t en or (environ 61 536 onces contenues). Toutefois, ces estimations ne respectent pas les normes CIM actuelles et nécessitent une validation.
La société souligne qu'il s'agit uniquement d'une initiative d'exploration, non d'une décision de production, et qu'aucune analyse économique ni étude de faisabilité n'a été réalisée.
Canadian Gold Resources (TSXV: CAN) hat von der Regierung von Quebec Genehmigungen für ein Bulk-Sampling-Programm bei seinem zu 100 % im Besitz befindlichen Lac Arsenault Gold-Projekt erhalten. Das Programm zielt darauf ab, 5.000 bis 10.000 Tonnen mineralisiertes Material aus den Baker- und Mersereau-Adern zu testen.
Als Auflage für die Genehmigung muss das Unternehmen drei flache Wasserüberwachungsbrunnen in der Nähe des Probennahmebereichs installieren. Historische Schätzungen aus den 1970er Jahren wiesen 40.000 Tonnen mit einem Gehalt von 15,43 g/t Gold und 197 g/t Silber aus, während ein Bericht von 1996 199.580 Tonnen mit 9,59 g/t Gold (etwa 61.536 enthaltene Unzen) angab. Diese Schätzungen entsprechen jedoch nicht den aktuellen CIM-Standards und müssen validiert werden.
Das Unternehmen betont, dass es sich hierbei ausschließlich um eine Explorationsmaßnahme handelt, keine Produktionsentscheidung, und dass keine wirtschaftliche Analyse oder Machbarkeitsstudie durchgeführt wurde.
- Secured all required permits for bulk sampling program at 100%-owned Lac Arsenault Gold Project
- Historical estimates suggest high-grade potential with 199,580 tonnes at 9.59 g/t gold
- Program will provide critical geological and metallurgical data for resource validation
- Historical resource estimates do not comply with current CIM standards
- No mineral reserves established at the property
- No economic analysis or feasibility study completed
Dieppe, New Brunswick--(Newsfile Corp. - July 15, 2025) - Canadian Gold Resources Ltd. (TSXV: CAN) ("Canadian Gold" or the "Company") is pleased to announce that it has received all required permits from the Government of Québec to proceed with a bulk sampling program with plans to test between 5,000 to 10,000 tonnes of mineralized materials at its
As a condition of the permit, the Company is required to drill three (3) shallow water monitoring wells in the vicinity of the proposed sampling area to identify potential groundwater presence. If water tables are encountered, baseline water quality testing will be conducted both before and after the program. Canadian Gold fully supports this requirement as part of its commitment to responsible exploration and environmental stewardship.
Next Steps
With permits secured, Canadian Gold will now begin preparations for mobilizing personnel and equipment to site. In the coming weeks, the Company will finalize agreements with drilling, excavation, and haulage contractors, complete the required water wells, and install temporary infrastructure to support safe operations near the Baker and Mersereau veins. Once site preparation is complete, material sampling is anticipated to commence and continue for approximately three weeks. The sampled material will be transported to a third-party facility for off-site processing and analysis. Updates will be provided as results become available, including recoveries and implications for future exploration planning.
Management Commentary
Ron Goguen, President & CEO of Canadian Gold, commented:
"Receiving this permit is a major milestone in the advancement of our Lac Arsenault Project. This program is designed to evaluate the technical and geological characteristics of the near-surface mineralization. Historical work conducted by Imperial and Esso Minerals in the 1970s reported a historical estimate of approximately 40,000 tonnes grading 15.43 g/t gold and 197 g/t silver (Stevenson, L., 1975, Geological Report on the Lac Arsenault Property, Esso Minerals Canada). A subsequent 1996 report revised the estimate to 199,580 tonnes grading 9.59 g/t gold, or approximately 61,536 contained ounces (Côté, R., 1996, Lac Arsenault Project Resource Evaluation, Unpublished Internal Report). While these historical estimates do not comply with current CIM standards, they indicate strong historical interest in this high-grade system. Additional core drilling, systematic surface sampling, and database verification will be required to validate the data and assess whether a current resource can be defined."
Clarification on Economic Potential
While Canadian Gold is encouraged by the opportunity to generate technical and metallurgical data from the bulk sample, no economic analysis has been completed, and there are no mineral reserves at Lac Arsenault. Any references to possible revenue from sample processing are entirely speculative and do not demonstrate economic viability. There is no production decision and no feasibility study has been conducted. Should positive results occur, proceeds may be allocated toward working capital, additional exploration, or future shareholder returns, but no production decision or dividend policy has been made at this time. There is no assurance that results will support future exploration or development decisions.
Figure 1 - Aerial view of the Lac Arsenault Project showing the Baker and Mersereau vein system areas. The upcoming bulk sample will be extracted from these zones.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11663/258860_96b60e43f467fb2b_001full.jpg
Historical Resource Estimate Disclosure (NI 43-101 2.4)
The Company refers to the following historical estimates:
- Stevenson, L. (1975) - Geological Report on the Lac Arsenault Property, Esso Minerals Canada:
40,000 tonnes @ 15.43 g/t Au and 197 g/t Ag
- Côté, R. (1996) - Lac Arsenault Project Resource Evaluation, Unpublished Internal Report:
199,580 tonnes @ 9.59 g/t Au (approx. 61,536 contained oz Au)
These historical estimates were based on underground sampling and trenching using manual polygonal methods. The estimates are relevant as they reflect historical interpretations, but they pre-date NI 43-101 and do not comply with current CIM Definition Standards. A Qualified Person has not completed sufficient work to classify the estimates as current mineral resources or mineral reserves. The Company is not treating the estimates as current, and further verification is required.
To bring these historical estimates into compliance with current CIM standards, the Company anticipates conducting:
- Systematic diamond drilling to confirm historical grade and geometry of the mineralized zones;
- Verification sampling of archived and in-situ material, if available;
- Construction of a validated digital geological model based on modern logging and QA/QC procedures;
- Density determinations and geostatistical analysis in accordance with current best practices;
- Independent resource estimation by a Qualified Person using current CIM categories and estimation methods.
The Company believes the planned exploration bulk sample will provide critical geological, grade continuity, and metallurgical information to support this process.
About the Lac Arsenault Project
The Lac Arsenault Project is located in Québec's Gaspé region and hosts multiple high-grade epithermal-style vein systems including the Baker, Mersereau, and Dunning veins. The project lies along the Grand Pabos Fault, a regional structure within the Gaspé-Newfoundland tectonic belt that shares characteristics with other productive gold systems, such as the Cadillac-Larder Lake Fault Zone (Abitibi) and the Cape Ray-Valentine Lake Shear Zone (Newfoundland), which are known to host multi-million-ounce deposits.
Surface Sample Highlights
Baker Vein
| Sample ID | Au (g/t) | Ag (g/t) | Pb (%) |
| BVA2025-004 | 28.9 | 306 | – |
| BVA2025-006 | 22.9 | 399 | 17.8 |
| BVA2025-008 | 5.32 | 452 | 25.7 |
| Historical* | 32.83 | – | – |
| Historical* | 15.43 | 197 | 6.6 |
Mersereau Vein
| Sample ID | Au (g/t) | Ag (g/t) | Pb (%) |
| MERS-1 | 25.5 | 447 | 18.4 |
| Historical* | 39.7 | 77.3 | 0.88 |
| Historical* | 13.4 | 109 | 4.69 |
| Historical* | 5.16 | 194 | 5.13 |
* Historical results are cited from Stevenson (1975). These assays are not compliant with NI 43-101 and are provided for reference only. Surface samples are selective in nature and may not reflect the average grade or continuity of mineralization.
Note: The 2025 surface sample results shown above were previously disclosed in the Company's news release dated July 9, 2025, which included complete QA/QC protocols and analytical methods in accordance with NI 43-101.
The purpose of the permitted bulk sample is to evaluate grade continuity, test metallurgical recoveries, and gather data to inform future exploration and development decisions. The Company cautions that this bulk sampling initiative is not based on a feasibility study of mineral reserves demonstrating economic or technical viability. As such, the technical and economic outcomes are uncertain, and there is a higher risk of failure. The bulk sample program is exploratory in nature.
About Canadian Gold Resources Ltd.
Canadian Gold Resources Ltd. is a Canadian junior exploration company advancing a portfolio of precious metals projects in Québec. The Company's flagship asset is the Lac Arsenault Project, where a fully permitted bulk sampling program of up to 10,000 tonnes is now ready to get underway. Canadian Gold also holds interests in other highly prospective properties in the Gaspé Peninsula and remains committed to discovery-driven growth.
Qualified Person Statement:
The scientific and technical information in this news release has been reviewed and approved by Mark Smethurst, P.Geo., a Director of Canadian Gold and a Qualified Person as defined under NI 43-101.
For Further Information, Please Contact:
Ron Goguen
President & CEO, Canadian Gold Resources Ltd.
rongoguen@cdngold.com
+1 (506) 383-4274
Investor Relations
investors@cdngold.com
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. These include, but are not limited to, statements regarding exploration plans, the timing and execution of the bulk sample program, and the potential results or economic implications of the program. Forward-looking statements are based on numerous assumptions and subject to known and unknown risks. There is no assurance that the bulk sample will achieve its intended objectives or lead to a compliant resource estimate or economic development. Readers are cautioned not to place undue reliance on such statements. The Company disclaims any obligation to update or revise forward-looking statements except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258860
FAQ
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