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    Trident gold assays at Contact Lake: key takeaways for mine planners and engineers

    April 30, 2026|

    Reviewed by Joe Ashwell

    Trident gold assays at Contact Lake: key takeaways for mine planners and engineers

    First reported on MINING.com

    30 Second Briefing

    High-grade winter drilling at Trident Resources’ brownfield Contact Lake project in northern Saskatchewan returned a standout intercept of 51.8 metres grading 15.11 g/t gold from 256 metres depth, including 0.5 metres at 1,055 g/t, sending the TSXV-listed company’s shares up more than 19% to C$3.67. A second key hole, CL26032, cut 21.5 metres at 5.07 g/t from 359.5 metres, with assays pending for 15 more holes from the 13,000-metre programme. The former Cameco-operated mine previously produced ~190,000 oz at 6.16 g/t, and no initial resource timeline has yet been given.

    Technical Brief

    • Highlight hole CL26036 includes 12.7 m at 14.6 g/t and 28.7 m at 20.69 g/t.
    • Historic Contact Lake output was ~190,000 oz Au between 1994–1998 at 6.16 g/t head grade.
    • Current winter campaign totals ~13,000 m of drilling, with assays still pending for 15 holes.
    • All reported winter holes intersected gold mineralisation, indicating good downhole continuity across the tested panels.
    • La Ronge belt’s only current producer, SSR Mining’s Santoy/Seabee, holds 505,000 oz at 4.63 g/t P&P.
    • Saskatchewan offers a stable permitting regime, with uranium and potash already established as major export commodities.

    Our Take

    With Contact Lake’s new assays in Saskatchewan and Trident’s Shirley Basin uranium project in Wyoming, the company is positioning across both gold and uranium, echoing the dual‑commodity exposure seen in other recent gold–uranium coverage in our database.

    The historical 6.16 g/t average grade at Contact Lake compares favourably with the 4.63 g/t proven and probable grade at SSR Mining’s Santoy/Seabee site, suggesting that if continuity and scale are demonstrated, Trident could benchmark the project against one of northern Saskatchewan’s better‑known underground gold operations.

    A C$121.8 million market capitalisation and a 19% share price move on the back of these assays indicate that, within our 415 gold‑ and uranium‑tagged pieces, Trident is still a relatively small‑cap name where incremental drilling results at Contact Lake can materially shift perceived project value and financing options this summer.

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    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

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