Cassiar Gold Corp. (TSXV: GLDC | OTCQX: CGLCF) has reported that its 2026 exploration campaign at the 100%-owned Cassiar Gold Property in British Columbia is progressing ahead of schedule, with 7,400 metres drilled across 31 holes out of a planned 10,000-metre program. The company has also announced that its Multi-Year Area-Based Mines Act Permit has been extended through March 31, 2031, providing long-term permitting certainty across the property. Investors may be watching for assay results from the Taurus deposit and the Newcoast regional prospect as the season continues.

Key Points

  • Cassiar Gold Corp. (TSXV: GLDC | OTCQX: CGLCF) is a British Columbia-focused gold exploration company
  • 7,400 metres drilled across 31 holes to date in the 2026 campaign, against a 10,000-metre target
  • Multi-Year Area-Based Mines Act Permit extended to March 31, 2031, covering up to 200 drill sites and 22.43 km of new exploration trails
  • A Preliminary Economic Assessment led by Ausenco is targeting delivery in H2 2026

Taurus Deposit Drilling Progress and Resource Context

The Taurus deposit remains the primary focus of the 2026 drill program at Cassiar North. The deposit hosts an Indicated Mineral Resource of 8.8 million tonnes at 1.43 grams per tonne gold for 410,000 ounces, and an Inferred Mineral Resource of 63.2 million tonnes at 0.95 g/t Au for 1.93 million ounces, using a 0.4 g/t Au cut-off grade. Notably, 91% of ounces occur within 150 metres of surface and the deposit remains open for expansion. Current drilling is designed to test extensions of known mineralisation, step out beyond the resource block model, and infill gaps to improve resource confidence.

Newcoast Prospect and Cassiar South High-Grade Target Work

Alongside Taurus, the company is advancing the Newcoast regional prospect, located approximately two kilometres southeast of the Taurus deposit, with over 2,000 metres slated for drilling there. Drill holes to date have intersected broad, structurally controlled gold-bearing zones of quartz veining and alteration. In parallel, Cassiar Gold's technical team is conducting target prioritisation at Cassiar South, an area historically associated with high-grade, past-producing quartz vein systems that yielded over 315,000 ounces of gold at average head grades between 10 and 20 g/t Au, according to the release.

MYAB Permit Extension Strengthens Operational Framework Through 2031

The amended Multi-Year Area-Based permit authorises up to 200 drill sites, construction of 50 helipads, 22.43 kilometres of new exploration trails, and 395 line kilometres of induced-polarisation geophysical surveys. The permit also provides seasonal flexibility for exploration beyond the summer field season. The release states this permit complements two existing mine permits — the Taurus Gold Mine Permit (M-149) and the Table Mountain Permit (M-127) — together providing what the company describes as a strong operational foundation for continued exploration advancement.

PEA Progress and RSU Award

A Preliminary Economic Assessment led by Ausenco is in progress and targeting delivery in H2 2026. The assessment will incorporate metallurgical work and evaluate potential development scenarios for the Taurus deposit. Separately, the company has awarded 500,000 restricted share units to certain consultants, with two-thirds vesting 12 months from the award date and the remaining third vesting at 24 months. Each vested RSU will be satisfied by one common share issued from treasury at a price based on the September 16, 2026 closing price.