12:45 PM EST, 01/02/2025 (MT Newswires) -- 1911 Gold ( AUMBF ) on Thursday outlined its "future plans" after the release of an updated underground mineral resource estimate (MRE) for the True North Gold Project in southeastern Manitoba, Canada, on Nov. 20, 2024

In summary, AUMB is planning for 25,000 metres of resource expansion and said new target drilling underway for 2025.

In a statement it said: "First phase surface drilling is currently underway on near surface areas outside of the resource where the new geological model has identified prospective new targets with significant mineralized intercepts from historical drilling. Initially three prioritized target areas have been identified and are the target of the current drill program.... Drilling is continuing and results are due to be released in early 2025."

With the completion of the MRE, AUMB added it has also identified areas of the resource model that are open and with additional drilling have the potential to expand the resources, in addition to new targets at depth in the deposit. It is currently compiling a drill plan of over 25,000 metres in drilling for 2025 and has commenced work on a preliminary redevelopment plan, working closely with Eric Vinet, recently engaged as a key technical advisor, focusing on identifying suitable mining methods, expected costs, and overall economics supporting the restart strategy, to be covered in a new preliminary economic assessment study.

"The new robust resource estimate forms the base of our plans moving forward both for the recommencement of production and the expansion and growth of resources at the True North Gold mine," says President and CEO Shaun Heinrichs. "We have a significant exploration drill program underway on a number of new targets and are moving to expand this program in 2025 with more resource expansion drilling."

AUMB was last seen down $0.01 at $0.145.

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