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WESTERN GOLD EXPL (WGELF) Stock News

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Western Gold Exploration (WGELF) has completed drilling of four diamond drill holes totalling 667 m at the Coire a'Ghabhalach (CaG) vein, the first target in its maiden drilling campaign at the Caledonian Gold Project in Scotland.

CaG was defined through systematic channel, backpack drill and soil sampling, which returned multiple high-grade polymetallic gold intervals, including 1.4 m at 9.94 g/t Au with 1.25% Zn and 1.61% Pb, 1.8 m at 7.53 g/t Au with 1.50% Zn and 1.03% Pb, and 1.0 m at 12.95 g/t Au with associated zinc and lead. Channel sampling included 2.5 m at 5.18 g/t Au, with a 0.6 m sub-interval grading 16.70 g/t Au. Veining and alteration have been traced over at least 180 m of strike, with all intercepts remaining open at depth and along strike. Assay results from the completed drilling are expected in October 2026, and drilling has now commenced at the second target, Creag Sheileach, within the Glen Lyon joint venture (90% Western Gold, 10% Acrux Gold).

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Western Gold Exploration (TSXV: WGLD, OTC: WGELF) reported progress at its Caledonian Gold Project in Scotland and provided a corporate update. Through the Glen Lyon Joint Venture, where the company holds a 90% interest, about 650 metres of NQ diamond drilling have been completed in four holes at Drill Pad 1, as part of a minimum 1,500‑metre, eight‑hole program.

Drilling has now started at Drill Pad 2 (Creag Sheileach), with initial core logging and assay results from Pad 1 expected in late Q3 2026 and full program results in Q4 2026. Western Gold Exploration is also conducting ongoing regional sampling across the JV area. On the corporate side, John Thomson/b) was appointed to the Audit Committee effective August 27, 2026, and financial statements for the three and six months ended June 30, 2026 have been filed and are available online.

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Western Gold Exploration (TSXV:WGLD, OTC:WGELF) has started its maiden diamond drilling programme at the Caledonian Gold Project in Scotland, held via the 90%-owned Glen Lyon joint venture with Acrux Gold (10%).

The initial programme includes at least 8 holes totalling 1,500m on three high-priority Lyon licence prospects, with first assay results expected in late Q3 2026 and full results through Q4 2026.

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Western Gold Exploration (WGELF) secured an exclusive land access agreement with Forestry and Land Scotland, covering about 95 km² within the Orchy Crown Estates licence application. The agreement is part of the Glen Lyon joint venture with Acrux Gold, where Western Gold holds a 90% interest during exploration.

Total land access at the Caledonian Gold Project now spans roughly 225 km² across Glen Orchy and Lyon. Historic and recent grab samples reported gold grades up to 383.2 g/t Au and silver up to 2,260 g/t Ag, though these selective samples may not reflect true mineralisation grades.

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FAQ

What is the market cap of WESTERN GOLD EXPL (WGELF)?

The market cap of WESTERN GOLD EXPL (WGELF) is approximately 4.1M.