Quartz Mountain Resources Ltd. reports mineral exploration developments for its British Columbia project portfolio, led by the Maestro Project near Houston and the Prodigy gold-silver discovery. Company updates commonly cover diamond drilling, assay results, delineation work, and geological studies across epithermal gold-silver, porphyry gold, and copper-molybdenum mineralization.
News about QZMRF also includes capital-markets and project-positioning items, such as warrant exercises tied to private placements, U.S. OTC market status, and updates on the Jake Project north of Smithers. The company’s common shares trade on the OTCQX under QZMRF and on the TSX Venture Exchange under QZM.
Quartz Mountain Resources (QZMRF) plans to begin Phase 5 drilling at its wholly owned Maestro project on October 22, 2026.
The program targets previously undrilled geophysical anomalies north of Prodigy and extensions of the Prodigy gold-silver-molybdenum discovery. The company interprets the northern targets as potential sulphide systems. Two modelled sections show electrical chargeability anomalies extending approximately 400 metres vertically; drilling will provide their first direct tests. The northern anomaly's full extent remains undefined.
Prodigy drilling will test extensions southeast, south and at depth. Four previous phases totalled 12,951 metres in 21 holes, outlining an open-ended mineralized system approximately 100–200 metres wide, 600 metres long and extending to depths of up to approximately 500 metres. Existing permits cover 37 additional drill sites, allowing program adjustments as results arrive.
Quartz Mountain Resources (QZMRF) has closed a private placement of units, raising gross proceeds of $1.7 million to support exploration. The financing comprised 4,247,500 units, and the company now has $4 million in current working capital. Chairman Robert Dickinson and his associates received 1,500,000 FT Units; insider The Sutton Group received 1,500,000 Units.
The company intends to use net FT Unit proceeds exclusively for exploration of its British Columbia gold-silver-copper projects. Non-FT Unit proceeds are intended for exploration of those projects and general working capital. Completion remains subject to final TSX Venture Exchange approval. All securities issued carry a Canadian statutory hold period expiring four months and one day after closing. No securities were sold to US persons.
Quartz Mountain Resources (QZMRF) is upsizing its financing and now expects aggregate proceeds of $1,710,000 from two types of units.
The flow-through unit portion is increasing by up to $360,000. The company expects to raise $1,110,000 from flow-through units and $600,000 from other units. The upsized financing remains subject to TSX Venture Exchange acceptance and the other terms and conditions described in its September 24, 2026 announcement. Current working capital is $2.4 million before completion of the financing.
Quartz Mountain Resources (QZMRF) plans to start Phase 5 drilling at its Maestro project on October 20, 2026. The program will test targets north, south and east of the Prodigy discovery’s drilled footprint. Four earlier phases covered 12,951 metres in 21 holes, and permits cover 37 additional drill sites.
Quartz also proposes a $1.37 million private placement: 1,550,000 regular units for $620,000 and 1,875,000 flow-through units for $750,000. Both types cost $0.40 per unit and include one share and one warrant. Each warrant can be exercised at $0.50 for 24 months after issuance. Quartz expects to use flow-through proceeds for Maestro drilling and regular-unit proceeds for working capital. Working capital before the financing is $2.3 million. Completion requires TSX Venture Exchange approval and is expected in September 2026.
Quartz (OTCQX:QZMRF) reported Phase 4 drill results from the Maestro Project, highlighted by 163.9 m of 0.72 g/t AuEQ within 306.6 m of 0.54 g/t AuEQ in hole 26-14.
The Prodigy epithermal system now spans ~600 m long, 100–200 m wide and up to 500 m deep. Broad porphyry molybdenum intervals up to 504 m grading 0.030% Mo were intersected east of Prodigy, suggesting a second large Mo system.
Quartz plans Phase 5 drilling in September 2026 and reports working capital of $2.6 million and permits for 37 additional drill sites. Re-assaying historical pulps identified high-grade gold veins, including 10.3 g/t over 0.9 m and 5.6 g/t over 2 m.
Quartz (OTCQX:QZMRF, TSXV:QZM) will adopt semi-annual financial reporting under Coordinated Blanket Order 51-933 for certain venture issuers.
The company will stop filing first- and third-quarter reports, while continuing audited annual statements and six‑month interim financials for its July 31 year-end.
Quartz (OTCQX:QZMRF) completed its Phase 4 core drilling program at the 100%-owned Maestro gold-silver project in British Columbia, totalling 4,366 meters in 8 holes, with assays pending. Total drilling at the Prodigy discovery now reaches 12,951 meters across 21 holes.
Quartz reports a $2.9 million treasury, a new BC drill permit for 37 additional sites, and plans a Phase 5 program later in 2026 focused on Prodigy’s integrated epithermal and porphyry mineral systems.
Quartz Mountain (OTCQX:QZMRF) reported that 96% of warrants from its March 19, 2025 private placement were exercised ahead of the March 18, 2026 expiry, raising approximately C$2.88 million. The company now holds working capital of ~C$3.8 million to fund exploration.
Phase 4 diamond drilling at the Prodigy area of the Maestro Project has completed six holes (~3,000 metres) with one drill rig; drilling will continue through spring breakup and possibly to the end of June if access permits. Assay results will be released after lab processing.
Quartz Mountain Resources (OTCQX:QZMRF) reported results from a deep induced polarization (IP) survey at the Maestro property, British Columbia, that outlined a large sulphide system and refined the position of the Prodigy gold-silver discovery.
The IP data mapped a donut-shaped sulphide system ~2.1 km north-south by 1.4 km east-west (≈3 km2), showing a 400 m by 800 m low-to-moderate chargeability core with an >200 m high-chargeability halo. The Prodigy zone is located adjacent to the core on the high-chargeability margin. The company said the survey materially improves drill targeting and that a fully funded drill program is scheduled to mobilize on February 3, 2026.
Quartz Mountain Resources (OTCQX:QZMRF) will exhibit core from its Maestro Project at AME Roundup 2026 in Vancouver (Jan 26–29), showcasing the Prodigy discovery.
Prodigy drilling (Phases 1–3) totals 8,346 metres across 13 holes and has intersected three integrated mineralization types: epithermal Au-Ag, a newly discovered gold-rich porphyry (final hole PR25-13), and porphyry Cu-Mo. Quartz plans to mobilize Phase 4 drilling in early February 2026 to continue delineation.