North Peak Resources Secures All Required Permits for 2026 Drilling
Rhea-AI Summary
North Peak Resources (OTCQB:NPRLF) secured all required permits to begin its 2026 exploration drilling program at the Prospect Mountain Mine Complex in Eureka, Nevada. Drilling will test five target areas, many never explored with modern methods, following full acquisition of the Property in July 2025 and an initial 2025 drill campaign.
AI-generated analysis. Not financial advice.
Positive
- 2026 drilling permits secured for five Prospect Mountain target areas
- Program follows full acquisition of Prospect Mountain completed in July 2025
- 2025 hole PM25-014RC intersected 88.4m @ 0.24 g/t Au and 15.7 g/t Ag
- Eureka camp endowment totals about 8.2M oz historical production plus indicated resources
Negative
- None.
News Market Reaction – NPRLF
On the day this news was published, NPRLF gained 14.18%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Program across Five Target Areas at Prospect Mountain, Eureka, Nevada
Calgary, Alberta--(Newsfile Corp. - May 19, 2026) - North Peak Resources Ltd. (TSXV: NPR) (OTCQB: NPRLF) (the "Company" or "North Peak") is pleased to announce that it has secured all required permits to commence exploration drilling across five target areas at its Prospect Mountain Mine Complex (the "Property") in Eureka County, Nevada. The Property lies in the heart of the Eureka mining camp along the famous Battle Mountain/Eureka gold trend.
Earthworks are expected to commence shortly, marking the beginning of the Company's broadest and most ambitious exploration campaign to date. The 2026 program follows the Company's full acquisition of the Property in July 2025, and an initial drill campaign undertaken in the fall of 2025, which started to test two new target areas and provided key geological data ahead of this larger program.
"This is a landmark moment for North Peak. We have worked hard to secure the access and approvals necessary to drill five separate target areas - the majority of which have never been tested with modern equipment. Several of these areas lie within or adjacent to individual historic patented mining claims that have seen little to no systematic modern exploration, making access to them a significant and hard-won milestone. The geological evidence at each target is compelling, and we look forward to letting the drill bit speak," stated Rupert Williams, CEO.
The 2026 program represents the first time that modern reverse circulation or diamond drill equipment will be deployed across the majority of the five target areas. Much of this ground has not been the subject of systematic exploration since the earliest days of mining activity at Prospect Mountain - in many cases, since the silver and gold rush era of the 1880s. North Peak believes this creates a genuine first-mover opportunity in a district that has already produced over 3.1 million ounces of gold historically, and which carries a total endowment of approximately 8 million ounces.*
The drilling campaign will cover the following five target areas (see Figure 1):
Wabash/Williams. Building on the high-grade intercepts established in the 2024 drill program and extensions identified last year - this is the only area on the Property with any prior systematic drilling history - with a focus on expanding the disseminated near-surface oxide gold mineralization between the Wabash and Williams lodes, and testing for bulk tonnage potential alongside the known higher-grade lode systems.
Lower PME Zone. Targeting the Hamburg Dolomite and Dunderberg Shale contact, a regionally important stratigraphic horizon for gold mineralization in the Eureka camp. The zone sits proximal to the McEwen Mining boundary, where the Rustler and Windfall historic mines are located and where McEwen are actively drilling. In the fall 2025 program, hole PM25-014RC intersected 88.4m averaging 0.24 g/t Au and 15.7 g/t Ag from 425.2m. This thick low-grade intersection is typical of distal halos to higher grade mineralization in the area and further drill-holes are planned to test critical inferred structures in the area.
Old Put. An entirely new area with no prior modern drilling, situated on and around historic patented mining claims that run across the ridge of the mountain on the Property. The area displays compelling surface gold indications, with historic workings on the patented claims in this area having returned high grade grab samples Construction of a new access road will open up an extensive and previously inaccessible portion of the mountain for exploration for the first time.
West Side Story. A new area targeting thrust-repeated slices of El Dorado dolomite in structural settings interpreted as analogous to the historic Ruby Hill deposit. Gold anomalism has been confirmed through soil sampling across the target corridor. No drilling has ever been undertaken in this area, though limited historic mining was undertaken in the 19th century.
Sulphide Zone. Targeting a 2-kilometre-scale magnetotelluric anomaly interpreted as a potential sulphide system at depth below the existing historic workings. The 2026 program will test the anomaly in a number of places along the strike.
Prospect Mountain sits centrally surrounded by i-80 Gold Corp and McEwen Mining - two companies with combined market capitalizations in excess of US
Figure 1: Map of five target areas across Prospect Mountain
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9875/297892_c6b9f313e44f3869_002full.jpg
*Represents current indicated resources and historical production applicable to the Eureka camp. Sources: (1) "Preliminary Economic Assessment of the i-80 Gold Corp. Ruby Hill Project, Eureka County, NV" dated effective December 31, 2024, available on the i-80 Gold Corp. website and under the SEDAR+ profile for i-80 Gold Corp; and (2)"Technical Report, Lookout Mountain Project, Eureka County, Nevada, USA" dated effective Sept. 1, 2023 available under the SEDAR+ profile for Timberline Resources Corporation; (3) "NI 43-101 Technical Report on the Prospect Mountain Property, Eureka County, Nevada, USA" dated and effective April 10, 2023, available on the Company's website and under its SEDAR+ profile; and (4) "i-80 Gold Announces High-Grade Mineral Resource Estimate for the FAD Project and Confirms Near-Surface Oxide Mineralization" dated November 6, 2025 available on the i-80 Gold Corp. website; and (5) "McEwen Q1 Results & Windfall Resource Estimate" press release dated May 6, 2026 available on the McEwen Inc. website.
| Date | Historical oz's | Tons short | Tonnes | Grade Au g/t | Grade Ag g/t | Indicated Tonnes | Au g/t Ind | Au oz's Ind | |
| Ruby Hill Historical1 | 1899-1964 | 1,650,000 | 2,000,000 | 1,814,400 | 28.50 | 668.60 | |||
| Lookout Mountain prod2 | 1987-88 | 21,624 | 180,196 | 163,474 | 4.11 | ||||
| Windfall Rustler Paroni2 | 1980's | 112,000 | 2,800,000 | 2,540,160 | 1.37 | ||||
| Prospect Mountain3 | 1873-1970 | 47,953 | 74,927 | 21.95 | 787.00 | ||||
| Archimedes West Historical1 | 1998-2000 | 365,491 | 3,700,000 | 3,356,640 | 3.39 | ||||
| Archimedes West +East1 | 2001-2015 | 1,081,458 | 18,000,000 | 16,329,600 | 2.06 | ||||
| Archimedes Leach Pad1 | 2020-2021 | 21,105 | |||||||
| Sum Historical | 3,299,631 | 15.80 | |||||||
| Current Resources | |||||||||
| Archimedes Open Pit1 | Dec 31, 2024 | 4,280,000 | 1.98 | 272,000 | |||||
| Mineral Point1 | Dec 31, 2024 | 216,982,000 | 0.48 | 3,376,000 | |||||
| Ruby Deeps+426 (Archimedes)1 | Dec 31, 2024 | 1,791,000 | 7.60 | 436,000 | |||||
| FAD4 | Oct 31, 2025 | 594,000 | 4.51 | 86,000 | |||||
| Lookout Mountain2 | Nov 17, 2023 | 26,254,368 | 0.62 | 508,000 | |||||
| Windfall5 | May 6, 2026 | 9,402,800 | 0.75 | 227,500 | |||||
| Sum | 259,304,168 | 4,905,500 | |||||||
| Historical + Ind | 8,205,130.80 |
**Source: Company press release: 31 January 2024. Grab samples are to be considered indicative of potential and not representative of expected grades.
About North Peak
The Company is a Canadian-based gold exploration and development company listed on the TSX Venture Exchange under the symbol "NPR" and the OTCQB under the symbol "NPRLF". Launched by the founding team behind both Kirkland Lake Gold and Rupert Resources, the team has a strong track record of acquiring mining assets, applying modern exploration techniques and taking them into operational mines.
North Peak's flagship property is the Prospect Mountain Mine Complex which lies in the Battle Mountain-Eureka trend, in an area known as the Southern Eureka Gold Belt, where three styles of mineralization have been identified, gold, silver Carlin style mineralization, Carbonate Replacement gold, silver, lead, zinc mineralization (CRD) and carbonate hosted Porphyry Related Skarn lead, zinc and gold mineralization associated with cretaceous intrusions. At the Property, the CRD mineralization is heavily oxidized to depths of at least 610m (2,000ft) below the top of the ridge line.
A Plan of Operations is in place which covers part of the Property and entitles an operator to pursue surface exploration (totaling 189 acres), underground mining of up to 365,000 tons per annum and certain infrastructural works. A more complete description of the Property's geology and mineralization, including at the Wabash area, can be found in the NI 43-101 Technical Report on the Prospect Mountain Property, Eureka County, Nevada, USA dated and with an effective date April 10, 2023, prepared by David Pym (MSc), CGeol. of LTI Advisory Ltd. and Dr Toby Strauss, CGeol, EurGeol., of Merlyn Consulting Ltd., which has been filed on SEDAR+ at www.sedarplus.ca under the profile of the Company and on the Company's website.
The Company can give no assurances at this time that its properties and interests will fulfil the Company's business development goals described herein. Trading in the securities of the Company should be considered highly speculative.
Review by Qualified Person
Mr. David Pym, CGeol., Consulting Geologist for the Company, is the Qualified Person (QP), as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects, who has reviewed and approved the scientific and technical disclosure in this press release. The Qualified Person has not reviewed the mineral tenure, nor independently verified the legal status and ownership of the Property or any underlying property agreements.
For further information, please contact:
| Rupert Williams, CEO Phone: +1-647-424-2305 Email: info@northpeakresources.com Website: www.northpeakresources.com | Chelsea Hayes, Director Phone: +1-647-424-2305 Email: info@northpeakresources.com |
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS: This press release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, timing and completion of any drilling and work programs on the Property, estimates of mineralization from drilling, sampling and geophysical surveys, geological information projected from drilling and sampling results and the potential quantities and grades of the target zones, the potential for minerals and/or mineral resources and reserves, and statements regarding the plans, intentions, beliefs, and current expectations of the Property and the Company that may be described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.
By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, accuracy of assay results, geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services, future operating costs, and the historical basis for current estimates of potential quantities and grades of target zones, as well as those risk factors discussed or referred to in the Company's Management's Discussion and Analysis for the year ended December 31, 2025 is available at www.sedarplus.ca, many of which are beyond the control of the Company. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation Service 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/297892