Junior Gold Explorer Jumps 15% on Massive Intercepts at Gowganda West

2026-02-26 15:05:58 ET

As tensions between the United States and Iran escalate, with last-ditch negotiations underway to avoid a new military confrontation, investors aren’t waiting for the outcome. Instead, they are rotating into safe-haven assets such as gold, which was last trading around $5,200 per ounce, still within striking distance of the all-time high near $5,600 set in late January.

With gold holding at these elevated levels, one micro-cap miner has further strengthened its investment case, announcing significant drill intercepts with strong gold grades at its flagship project in the Abitibi Greenstone Belt.

The Abitibi Greenstone Belt is living up to its reputation as a premier gold corridor, with iMetal Resources (TSX-Venture: IMR) (OTCQB: IMRFF) reporting 0.424 g/t Au over 278m, including 1.24 g/t Au over 16.7m. These intercepts underscore the potential for a substantial bulk-tonnage system, further supported by a follow-up intercept of 0.419 g/t Au over 65.8m. These results confirm the continuity of the gold system identified in the 2023 discovery hole and signal the development of a large-scale mineralized zone.

In addition to the impressive intercepts, the latest drill program at Gowganda West has helped expand the overall understanding of the deposit, adding continuity and scale to the project. The high-grade intercepts within broad, bulk-tonnage zones are an encouraging sign for the potential of future resource expansion. The company’s drilling at Gowganda West, which focused on the West zone, continues to reveal a consistent gold mineralization profile, providing further confidence that the area can support a substantial resource base.

Strategically next to the Juby Deposit and bordering the Knight project, which is under a partnership with industry giant Agnico Eagle Mines, Gowganda West is gaining attention as a potential key player in a rapidly developing district. By identifying a parallel trend to the nearby 826 Zone, iMetal is positioning itself for significant exploration upside. The results from this recent campaign build upon the success of the 2023 discovery, which uncovered significant gold mineralization in a previously underexplored part of the property. The current drilling results are now showing the continuity and potential for a large-scale gold system in the region.

The company targets the next drilling phase to expand the West Zone further and explore Gowganda West’s eastern parts, where it identified additional high-grade mineralization. With further exploration and resource drilling on the horizon, iMetal is positioning itself as a key player in a rapidly maturing district that has already attracted the attention of major industry players.

The market is responding, with shares rising $0.01 / 13.6% following the news, as investors look forward to the next phase of drilling in this prolific Ontario camp.

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