G50 Initiates Drill Program to Follow up High Grade Gold Intercept at White Caps, Nevada

The earlier hole returned 13.5 meters at 7.67 grams of gold per tonne, providing the target for continuity testing.

Rhea-AI Summary

G50 (GFTYF) has commenced follow-up diamond core drilling at its White Caps Gold Project in Nevada to test mineralization continuity. The program targets the area around hole WCD26-01, which intersected 13.5 meters at 7.67 grams of gold per tonne, including 3.93 meters at 23.95 grams per tonne.

New holes are planned at approximately 100-meter step-outs to assess whether the mineralization extends sideways and upward along the limestone host layer. G50 expects assays, or laboratory results, from the remaining February core holes shortly. The drilling follows a geological model based on mineralization within limestone units.

Positive

• Minor pointFollow-up drilling commenced at White Caps to test the extent of the gold-bearing limestone layer.
• Minor pointWCD26-01 intersected 13.5 meters at 7.67 grams of gold per tonne, including 3.93 meters at 23.95 grams per tonne.
• Minor point. Forward-looking: it has not happened yet and may not happen.New holes are planned at approximately 100-meter step-outs to assess sideways and upward continuity.
• Minor point. Forward-looking: it has not happened yet and may not happen.Remaining February core-hole assays are expected shortly, G50 said.

Negative

• None.

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WHITE CAPS, Nev., Oct. 8, 2026 /PRNewswire/ -- G50 Corp. (ASX: G50; OTCQX: GFTYF) announced it had commenced a follow-up diamond core drilling at its White Caps Gold Project in Nevada. The program is focused on the area surrounding diamond drill hole WCD26-01, which intersected high-grade gold mineralization within a decalcified and silicified limestone unit. The new holes are planned to assess the lateral and up-dip continuity of this mineralization at nominal step-outs of approximately 100 meters. Additional information can be found here: https://asx.api.cmfyapp.com/asx-research/1.0/file/2924-03145921-2A1702915&v=undefined.

"WCD26-01 was the first core hold drilled at White Caps, and it delivered an outstanding result, with 13.5m at 7.67 g/t gold including a high-grade zone of 3.93m at 23.95g/t gold," said Mark Wallace, managing director of G50. Wallace noted that this mineralization is hosted within discrete limestone units that can be followed along strike and up dip. "This gives the team a clear geological model to drill against and this program is designed to evaluate the continuity in geology and mineralization of the host horizon."

White Caps is a historical high-grade gold mine in Nevada, one of the world's premier gold jurisdictions. This is the first time the mineralized limestone unit has been systematically tested with modern core drilling.

"With drilling now underway at White Caps and finally assays from the remaining February core holes due shortly, G50 is entering an active period of exploration at White Caps, alongside our gold, silver and gallium efforts at Golconda in Arizona," Wallace affirmed.

G50 is an exploration company progressing critical minerals and precious metals projects in the US, including the Golconda Project in Arizona and the White Caps Project in Nevada.

The Golconda Project is located in northwest Arizona, a well-established mining jurisdiction with a long history of base and precious metals production. The project comprises a historical zinc, lead, gold and silver mine and is proximal to the Mineral Park copper, molybdenum and silver mine. Exploration has identified high-grade gold and silver mineralization and a significant gallium discovery, highlighting the project's potential for both precious and critical metals.

The White Caps Project, in Nevada, a premiere mining jurisdiction with a long history of gold production, is a historical gold mine previously drilled by Freeport McMoRan between 1982-1984. Exploration has identified gold and antimony mineralization, and the project is located proximally to Scorpio Gold's Manhattan Gold Project, highlighting its potential.

View original content:https://www.prnewswire.com/news-releases/g50-initiates-drill-program-to-follow-up-high-grade-gold-intercept-at-white-caps-nevada-302902581.html

SOURCE G50 Corp Limited

FAQ

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What is G50 testing with its follow-up drilling at White Caps?

G50 is testing whether gold mineralization around WCD26-01 continues sideways and upward along the limestone host layer. New holes are planned at approximately 100-meter step-outs.

What gold results did G50 report from White Caps hole WCD26-01?

WCD26-01 intersected 13.5 meters at 7.67 grams of gold per tonne, including a zone of 3.93 meters at 23.95 grams per tonne. The mineralization occurs within limestone that has undergone chemical alteration.