8-K: Nevada Canyon Reports Significant Lapon Canyon Gold Intercepts

Nevada Canyon Gold Corp. announced significant gold drill results from the Lapon Canyon Gold Project, indicating expanded mineralization and growth potential.

Summary

• Nevada Canyon Gold Corp. (NGLD) reported additional drill results from the 2025 reverse circulation (RC) drill program at the Lapon Canyon Gold Project, where it holds an Exploration Stream Earn-in Agreement and a 3% Net Smelter Royalty (NSR).
• The drilling, conducted by Walker River Resources Corp (TSX-V:WRR), focused on resource definition at the Hotspot Zone and exploration of a new upper drill road extension.
• Results confirm gold mineralization extends to the south and east of the Hotspot Zone, now found in multiple bedrock units including granodiorite, diorite, monzonite, and biotite-granite, in addition to the previously known altered granite.
• Notable chalcopyrite (copper sulphide) was also observed, and the gold system shows a largely sub-horizontal geometry with steeply dipping, high-grade shoots.
• Key intercepts from the Hotspot Zone include 2.35 g/t Au over 45.7 m in hole LC-25-149 and 1.62 g/t Au over 45.7 m in hole LC-25-142.
• Drilling at the new upper drill road extension intersected 1.04 g/t Au over 30.5 m in hole LC-24-128 and 3.23 g/t Au over 3.0 m in hole LC-24-124.
• These findings suggest the potential discovery of a new mineralized zone, significantly expanding the growth potential of the Lapon Canyon Gold Project.

Sentiment

Score: 9

Explanation: The filing reports highly positive exploration drill results, indicating significant expansion of gold mineralization and the discovery of new mineralized zones. These results are crucial for a company with royalty and stream interests, suggesting increased value and future resource potential.

Positives

• Significant gold mineralization was extended to the south and east of the Hotspot Zone, indicating a larger resource footprint.
• Gold mineralization was discovered in multiple new bedrock units (granodiorite, diorite, monzonite, biotite-granite), expanding the geological understanding and potential of the deposit.
• Observation of chalcopyrite (copper sulphide) suggests potential for polymetallic mineralization.
• High-grade intercepts were reported, such as 8.08 g/t Au over 4.6 m within a broader 45.7 m interval of 2.35 g/t Au in hole LC-25-149.
• A new mineralized zone was identified at the upper drill road extension, with intercepts like 1.04 g/t Au over 30.5 m.
• The consistent positive drill results confirm and expand mineralization, creating more value for Nevada Canyon's royalty and stream interests.
• The project is located within the prolific Walker Lane gold trend in Nevada, a well-known mining region with good infrastructure.

Risks

• Actual outcomes and results may differ materially from forward-looking statements due to general economic and business conditions.
• Geopolitical unrest and regional conflicts could impact operations.
• Competition within the mining industry may affect the company's prospects.
• Changes in technology and exploration methods could influence project viability.
• Delays in completing various engineering and exploration programs may occur.
• Potential results from exploration programs are not guaranteed and may not meet expectations.

Future Outlook

Ongoing work at Lapon Canyon includes data compilation, interpretation, and resource modeling. Results from current and previous drill programs will enable the completion of an initial NI 43-101 compliant mineral resource on the Project. Further drill results, including holes LC 25-146 and LC 25-147, will be released as they become available, with field work and drilling continuing.

Management Comments

• Lisa Doddridge, President of Nevada Canyon, commented: "It's exciting to see the drilling at Lapon Canyon consistently hitting near surface gold mineralization. The discovery of gold in the bedrock units, is even more exciting and combined with the significant mineralized intervals encountered in these recent results confirm the possibility of significantly growing the resources at the Project. We look forward to more positive results from the 2025 drill program and believe that these results will continue to confirm and expand mineralization creating more value at Lapon Canyon."
• Alan Day, Chairman and CEO of Nevada Canyon, stated: "The continued consistent results from Lapon Canyon, show the potential of our Nevada based royalties and streams. We look forward additional results from Lapon Canyon and the ongoing interpretation of its gold mineralization."

Industry Context

The Lapon Canyon Gold Project is situated within the prolific Walker Lane gold trend in Nevada, a region known for its significant gold deposits and historical mining activity. The expansion of mineralization into multiple bedrock units and the identification of new zones align with broader industry trends of extending known deposits and exploring new targets within established gold trends.

Stakeholder Impact

• Shareholders: Potential for increased share value due to expanded resource potential and positive exploration results.
• Walker River Resources Corp (Project Owner): Validation and enhancement of the Lapon Canyon Project's value and prospectivity.
• Employees: Continued employment and activity related to ongoing exploration and development work.

Next Steps

• Data compilation and interpretation of drill results.
• Resource modeling to define the extent and grade of mineralization.
• Completion of an initial NI 43-101 compliant mineral resource on the Lapon Canyon Project.
• Release of further drill results, including holes LC 25-146 and LC 25-147, as they become available.
• Ongoing field work and drilling at the project.

Key Dates

Recommendation

The reported drill results are exceptionally strong, demonstrating significant expansion of gold mineralization at the Lapon Canyon Project, including high-grade intercepts and the discovery of new mineralized zones. For Nevada Canyon Gold Corp., which holds a 3% Net Smelter Royalty and an Exploration Stream Earn-in Agreement, these results directly enhance the value of its assets and future revenue potential. The confirmation of mineralization in multiple bedrock units and the overall growth potential of the project in a prolific gold trend suggest a substantial increase in the underlying asset value, making it a compelling investment opportunity for long-term growth.

Keywords

Gold exploration, Lapon Canyon, Nevada, Drill results, Net Smelter Royalty, Exploration Stream, Walker Lane, Mining, Mineralization, Reverse Circulation Drilling