Trident Resources Accelerates Winter Exploration Program with the Addition of a Third Drill Rig to the Contact Lake Gold Project in Northern Saskatchewan, Canada
MWN-AI** Summary
Trident Resources Corp. has announced a significant acceleration of its Winter 2026 exploration program at the Contact Lake Gold Project in Northern Saskatchewan, Canada, by mobilizing a third drill rig. The company, listed on TSXV as ROCK and on OTCQB as TRDTF, has experienced promising visual indications of mineralization during its current drilling efforts and is therefore expanding its operations. With robust funding exceeding CAD $32 million in cash and marketable securities, Trident aims to increase its drilling capacity from 10,000 meters to between 30,000 and 40,000 meters, making it one of the largest annual drill programs in the La Ronge Gold Belt in decades.
Trident's exploration strategy includes extensive prospecting, geologic mapping, and geochemical sampling over more than 130,000 hectares in this gold-rich region. The third drill rig will initially focus on the Preview target area—located 2.5 kilometers east of the Contact Lake mine—which already has compliant mineral resource estimates, with significant gold reserves identified. Trident's CEO, Jon Weisblatt, expressed enthusiasm for the project, emphasizing the company's commitment to discovering new high-grade gold zones and expanding existing resources.
The Contact Lake project, historically a gold producer with approximately 190,000 ounces mined between 1994 and 1998, includes several promising deposits and is viewed as a vital part of Trident’s strategy to capitalize on the underexplored aspects of the La Ronge Gold Belt. The company is optimistic that the current drilling initiatives will yield favorable results and significantly benefit the project’s development.
MWN-AI** Analysis
Trident Resources Corp. (TSXV: ROCK, OTCQB: TRDTF) is making significant strides in its exploration of the Contact Lake Gold Project in Saskatchewan, capitalizing on the promising indications from their ongoing winter drilling program. The recent decision to mobilize a third drill rig demonstrates Trident's confidence in the site's potential, especially following promising high-grade drill results from 2025. This move could significantly accelerate the exploration timeline, aiming to drill between 30,000 and 40,000 meters in 2026—the largest effort in decades for the La Ronge Gold Belt.
Investors should view this expansion with cautious optimism, as Trident holds over CAD $32 million in cash and marketable securities, positioning it well to fund exploration and development without the immediate need for external financing. Given that previous drilling has shown substantial mineralization, this aggressive approach could lead to a substantial increase in the project's mineral resource estimates, thereby enhancing Trident's market valuation.
The focus on known target areas, such as the Preview SW and Preview North deposits, aligns with Trident's strategy to maximize discoveries in areas with documented high-grade potential. However, the exploration sector inherently carries risks, and various factors—including commodity prices and regulatory challenges—could impact exploration success.
For prospective investors, it may be wise to monitor Trident's announcements closely for updates on drilling results and resource estimates. Strong positives could lead to stock appreciation, while any setbacks should be scrutinized carefully. Overall, with its sound financial footing and proactive strategy, Trident Resources shows promise in enhancing its position in the Canadian gold mining market, but potential investors should remain aware of the inherent risks associated with mineral exploration.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Vancouver, BC, Feb. 23, 2026 (GLOBE NEWSWIRE) -- Trident Resources Corp. (TSXV: ROCK) (OTCQB: TRDTF) (“Trident” or the “Company”) is pleased to announce that its Winter 2026 drilling program is being accelerated with the mobilization of a third drill rig. The Company is well funded and is highly encouraged with the visual indications of mineralization thus far in the winter program and has decided to add an additional rig to expedite and expand on the initial drilling plan. Trident intends to continue drilling throughout 2026 while also conducting extensive ground exploration through prospecting, geologic mapping and geochemical sampling across its properties in the La Ronge Gold Belt, which now total to over 130,000 hectares.
Trident’s Regional Project Location Map:
https://www.tridentresourcescorp.com/projects/contact-lake-gold-project/#&gid=1&pid=1
Jon Weisblatt, CEO of Trident, commented: "We are happy to report a third drill rig has been mobilized to the Contact Lake Gold Project to expand on our exploration plans in 2026. We felt this necessary as we are very pleased with the visual indications of mineralization early on in this winter program as we follow-up on high-grade drill results from last year as well as test new targets. We anticipate drilling between 30,000 and 40,000 metres at Contact this year representing one of the largest annual drill programs undertaken in the La Ronge Gold Belt in many decades. Thanks to the strength of our balance sheet, Trident is in the enviable position of being able to aggressively advance the Contact Lake project in 2026. With this drilling our goal is to discover new high-grade zones of gold mineralization, to increase the size of the current mineral resource and to follow-up on the previously reported high-grade drill intercepts from last year. We believe this approach provides the best opportunity to continue expanding the scale and quality of the project.”
Trident currently has two drill rigs operating at the past-producing Contact Lake mine site as part of a planned 10,000-metre winter phase of diamond drilling. The addition of a third rig is expected to increase drilling capacity and advance exploration timelines across the Company’s highly prospective land package. The third rig will initially be drilling in the Preview target area, located 2.5 kilometres east of the Contact Lake mine site and host to two deposits that have current NI43-101 compliant Mineral Resource Estimates. The Preview SW and Preview North deposits are part of the Preview trend, a 4-kilometre mineralized corridor hosted in a NE-trending shear zone that is parallel with the Bakos Shear, host to the Contact Lake mine gold mineralization.
Contact Lake Gold Property Map:
http://www.tridentresourcescorp.com/_resources/maps/contact-lake-property-map.jpg
Trident currently has over CAD $32 million in cash and marketable securities, which will be used to expand current gold resources and drill-test highly prospective exploration targets across the Contact Lake Property. The current drilling at Contact Lake will focus on extending high-grade mineralization toward the northeast and will test the BK3 zone, an area that hosts unmined historically defined high-grade gold resources. This drilling includes land-based holes following up on the high-grade zones discovered in the drilling in 2025, as well as drilling to the east on the lake to test zones that haven’t been drilled in almost thirty years.
Contact Lake Drill Collar Location Map:
https://www.tridentresourcescorp.com/_resources/images/Contact-Lake-Gold-Property-20260114.png
The Preview SW deposit, located 2.5 km southeast of the Contact Lake mine site, is hosted in multiple sub-parallel zones within sheared dioritic to gabbroic rocks. The current Mineral Resource Estimate, with an effective date of November 26th, 2025, outlined 314,700 ounces of gold (Au) in the Indicated category, and 531,900 ounces Au in the Inferred category (see Table 1). The Preview North deposit is located 2.6 km northeast of Preview SW within a quartz-filled dilatant jog in a transpressional shear system that hosts both Preview deposits. Preview North hosts 40,800 ounces Au in the Indicated category and 7,400 ounces Au in the Inferred category (see Table 1). The planned Preview winter drill program will seek to expand the resources at Preview SW and Preview North as well as test several prospective targets along the Preview trend.
Contact Lake Gold Project Overview:
The Contact Lake Gold Project covers approximately 22,790 hectares and includes the past-producing Contact Lake gold mine, which produced approx. 190,000 ounces of gold at an average head grade of 6.16 g/t Au during active mining operations between 1994 to 1998. At the time of mine closure, the price of gold hovered around $300/oz (USD) and Cameco Corporation reported that substantial gold resources were left unmined. Situated in the highly prospective La Ronge Gold Belt of Saskatchewan, the Contact Lake Property also hosts the Preview SW, Preview North and the North Lake orogenic gold deposits. Along with the Greywacke North deposit (located 40km northeast of Contact Lake), these four deposits are wholly-owned by Trident Resources and host current Mineral Resource Estimates (see news release dated November 24th, 2025) which does not include any ounces from the past producing Contact Lake target area.
Qualified Person:
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Cornell McDowell, P.Geo., VP Exploration for Trident Resources and the Qualified Person for Trident as defined by NI 43-101.
About Trident Resources Corp.:
Trident Resources Corp. is a Canadian public mineral exploration company listed on the TSX Venture Exchange focused on the development, exploration and acquisition of advanced-stage gold and copper exploration projects in Saskatchewan, Canada. The Company is aggressively advancing its 100% owned Contact Lake and Greywacke Lake projects which host significant historical gold resources located within the prospective and underexplored La Ronge Gold Belt, as well as the 100% owned Knife Lake copper project which contains a historical copper resource.
Trident Resources Corp.:
Jonathan Wiesblatt, Chief Executive Officer
Email: Jon.Wiesblatt@tridentresourcescorp.com
For further information contact myself or:
Andrew J. Ramcharan, PhD, P.Eng., Corporate Communications
Trident Resources Corp.
Telephone: 647-309-5130
Toll Free: 800-567-8181
Facsimile: 604-687-3119
www.tridentresourcescorp.com
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
Forward-Looking Information and Statements
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedarplus.ca for further information.
FAQ**
How does Trident Resources Corp. (TRDTF) plan to utilize the over CAD $32 million in cash and marketable securities to enhance its drilling program and exploration activities in 2026?
With the addition of a third drill rig, what specific geological targets is TRDTF focusing on during the upcoming drilling at the Contact Lake Gold Project?
Can you elaborate on the anticipated outcomes from the 30,000 to 40,000 metres of drilling planned by TRDTF in 2026, particularly concerning high-grade mineralization?
How does Trident Resources Corp. (TRDTF) evaluate the potential for significant gold resource expansion in the La Ronge Gold Belt through its ongoing exploration and drilling efforts?
**MWN-AI FAQ is based on asking OpenAI questions about Trident Resources Corp. (TSXVC: ROCK:CC).
NASDAQ: ROCK:CC
ROCK:CC Trading
-10.0% G/L:
$0.09 Last:
152,100 Volume:
$0.10 Open:
