10:31 AM EDT, 04/29/2024 (MT Newswires) -- P2 Gold ( PGLDF ) on Monday provided highlights from the April updated mineral resource estimate for its wholly-owned Gabbs Project located on the Walker-Lane Trend in Nevada.

The main difference between the 2024 mineral resource estimate and the June 2023 Mineral Resource Estimate is the decrease in the oxide cut-off grade to 0.27 grams per tonne of gold equivalent from 0.28 grams per tonne of gold equivalent and a decrease in the sulfide cut-off grade to 0.36 grams per tonne of gold equivalent from 0.44 grams per tonne of gold equivalent.

The company, which noted that both oxide and sulfide mineral resources have increased, reported inferred resources of 2.29 million ounces of gold equivalent. On an indicated basis, the company reported gold equivalent of 1.16 million ounces.

The 2024 MRE is based on four diamond drill holes and 27 reverse circulation drill holes completed by the company in 2021 and 2022 and 494 drill holes completed by the previous Gabbs Project operators between 1970 and 2011.