Trident Resources completed nine drillholes at Contact Lake, testing depth extensions of a past-producing gold mine. CEO Wiesblatt said the company aims to define a larger mineralized system. Assays pending.
Alpha Score of 54 reflects moderate overall profile with weak momentum, moderate value, moderate quality, moderate sentiment.
Trident Resources has completed nine drillholes totaling 6,500 meters at its Contact Lake gold project in Saskatchewan, with assays pending. The company is targeting depth extensions of a past-producing mine that closed in 1998 when gold traded near $300 an ounce.
The program is part of a planned 20,000 meters across roughly 35 holes. Earlier phases returned high-grade intercepts, including mineralization at depths exceeding 800 meters in the Bakos Shear Zone. Trident is testing the Main Zone and Southwest Zone extensions, along with the continuity between the BK1 and BK3 zones.
Contact Lake was owned and operated by Cameco in the 1990s. The mine produced about 190,000 ounces of gold at an average grade of 6.16 grams per tonne before closing. Cameco reported at the time that substantial gold resources were left unmined, Trident said. Cameco, whose stock carries an AlphaScala Alpha Score of 51 out of 100 (Mixed), has since shifted focus to uranium, but its Saskatchewan gold assets remain a reference point for the district.
CEO Jonathan Wiesblatt called the summer and fall program "a pivotal step" in advancing the deposit. "We're not just drilling to expand what Cameco found decades ago, we're testing new targets," he said in a statement. The company aims to define a larger mineralized system beneath a mine that closed with gold resources still in the ground.
Trident has also taken 5,700 soil samples from an anticipated 9,000 across the Contact Lake and adjacent Preview target area. The soil grid covers the structural intersection of the Bakos and Keya Shear Zones southwest of the deposit. The company plans an airborne magnetic and radiometric survey over its Reindeer property, which straddles the northern extension of the La Ronge-Kisseynew lithostructural boundary.
The company appointed T Global Consulting Services, an Indigenous-owned firm led by Tia Watt, a member of the Lac La Ronge Indian Band, to support community and Indigenous engagement. Watt will serve as a liaison between Trident and rightsholders, Métis-Nation Saskatchewan Northern Region 1, municipalities and local governments. Her role includes organizing community information sessions and site visits, and integrating community considerations into exploration planning.
Trident holds a 98,700-hectare land package in the La Ronge Gold Belt. The company has identified 2.0 million ounces of gold in a global resource outside the Contact Lake area, and said it has a healthy treasury to fund all 2026 exploration plans. The four deposits hosting those resources are wholly owned by Trident: Preview SW, Preview North, North Lake and Greywacke North.
Wiesblatt said the company aims to prove up a new Canadian gold district, comparing the belt's potential to Red Lake, the Abitibi and the Golden Triangle. "The La Ronge Gold Belt remains significantly under-explored, and we intend to be the Company that unlocks the district-scale potential," he said.
Upon completion of the current program, Trident will have drilled more than 40,000 meters across the La Ronge Gold Belt since its founding 16 months ago, according to Wiesblatt. The company holds a strong treasury and has outlined plans to fund all 2026 exploration without additional financing. The Contact Lake property alone covers 22,790 hectares and remains underexplored at depth. The next batch of assay results is expected in the coming weeks.
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