10:43 AM EST, 11/10/2025 (MT Newswires) -- P2 Gold ( PGLDF ) earlier Monday provided an update on activities at its wholly-owned gold-copper Gabbs Project located on the Walker-Lane Trend in Nevada.

The company said that a reverse circulation (RC) drill rig was mobilized to site on Oct 22, 2025, and expansion and infill drilling is underway. It added that, to date, 12 RC holes have been completed at the Sullivan Zone with 24 holes planned totaling 4,900 meters.

P2 Gold ( PGLDF ) stated that when drilling is complete at Sullivan, the RC drill will be moved to the Lucky Strike Zone to complete a 47-hole, 10,000-meter infill and expansion drill program. Drill results will be reported as received with initial results expected before year-end.

The company also said that a diamond drill rig is currently mobilizing to site and that the drill rig is being used to drill geotechnical drill holes to support the feasibility study and to provide metallurgical samples for feasibility metallurgical testing.

The diamond drill program is expected to consist of 17 holes totaling 3,500 meters.

"The initial holes will focus on providing additional metallurgical samples for column leach tests and then pit slope stability for the proposed Sullivan and Lucky Strike Zone open pits," said the company.

It also said that it has begun the process of awarding contracts in support of the Gabbs Project Feasibility Study and mining plan of operations.

P2 Gold ( PGLDF ) said that the studies and the ongoing drill program are expected to be completed in the second quarter of 2026.

"At the end of drilling, an updated Mineral Resource estimate will be prepared from which an optimized mine plan will be developed," added the company.

The company's shares were last seen up $0.045 to $0.39 on the TSX Venture Exchange.

Price: 0.39, Change: +0.05, Percent Change: +13.04