en.Wedoany.com Reported - G50 Corp Ltd (ASX:G50, OTCQB:GFYTF) has achieved its first strong result from the 2026 core drilling program at the White Cap Gold Project in Nevada, USA, intersecting 13.5 meters of mineralization grading 7.67 g/t gold and 2.38 g/t silver at a depth of 305.5 meters.
The results from drill hole WCD26-01 include a higher-grade interval of 3.93 meters grading 23.95 g/t gold and 7.29 g/t silver from the same depth. This is the first assay result reported from the five-hole, 2,220.10-meter program.
The drilling program is designed to test Carlin-type gold mineralization hosted in decalcified and silicified limestone, located beneath historical underground mining areas and extending to depths of approximately 400 meters.
G50's 2026 drilling follows its initial 2025 reverse circulation drilling program, which targeted shallow gold mineralization in altered limestone near historical workings. The previous program intersected gold mineralization in 8 of 12 holes at depths of less than 100 meters and returned high antimony values, including up to 3.5% (35,000 ppm) antimony between 77.7 and 79.2 meters.
The latest core hole was drilled down-dip along known limestone-hosted mineralization, toward a blind intrusive body interpreted from G50's airborne magnetic data. Drill hole WCD26-01, located approximately halfway between the historical Manhattan Union Shaft and the interpreted center of the blind intrusive, intersected three calcareous units, with the high-grade gold interval hosted in the middle unit. The company stated that there is currently insufficient information to estimate the true thickness of the reported intercept.
G50 is exploring the possibility that White Cap gold mineralization may be related to a deep blind intrusive body. The company's interpretation is supported by airborne magnetic data, the occurrence of skarn and calc-silicate rocks containing molybdenite and chalcopyrite in waste dumps and core, and increasing grades with depth in historical workings. The 2026 program is also testing skarn and intrusive-related targets down-dip and to the southwest of the Carlin-type target.
The White Cap project covers approximately 1,012 hectares in Nevada, including 28 patented and 74 unpatented mining claims. It is adjacent to and along strike from the historically producing Manhattan Gold Mine, less than 2 kilometers away, and approximately 20 kilometers south of the operating Round Mountain Gold Mine.
G50 Managing Director Mark Wallace stated that the first core result is a significant achievement for the project. Wallace noted that encountering significant gold mineralization in the first White Cap core hole is an excellent result for both the project and the team. He said the result reflects the value of revitalizing this historic mining district, which has substantial untapped potential, through a rigorous first-principles approach. With the Golconda project in Arizona and the White Cap project in Nevada, shareholders have exposure to two highly prospective projects in established mining districts in the United States. Wallace looks forward to receiving results from the remaining four drill holes over the next two months.
G50 is advancing its precious metals and critical minerals projects in the United States, including the White Cap project in Nevada and the Golconda project in Arizona. Golconda is a historical zinc, lead, gold, and silver mine in northwestern Arizona, near the Mineral Park copper, molybdenum, and silver mine, where exploration has identified high-grade gold and silver mineralization as well as a significant gallium discovery. At the White Cap project, exploration has identified gold and antimony mineralization in a gold deposit historically drilled by Freeport McMoRan between 1982 and 1984.
G50 expects to receive assay results from the remaining four White Cap core holes (WCD26-02 to WCD26-05) within the next two months. The company also plans to conduct detailed surface mapping and sampling east and west of the current drilling area in the coming weeks. A drill rig has been secured, and planning has begun for subsequent core drilling before the Northern Hemisphere winter this year, with final targets to be selected after all assay results from the current program are received. G50 will also host an investor webinar on Thursday, June 25, at 11:00 AM (Australian Eastern Daylight Time), where Managing Director Mark Wallace will update shareholders and investors on the latest developments at White Cap and Golconda.
G50 Corp Ltd is an Australian precious metals and critical mineral exploration company focused on high-potential projects in the southwestern United States. The company's portfolio includes the Golconda project in Arizona and the White Cap project in Nevada, both located in established mining jurisdictions in the US with a history of precious and base metal production.
At Golconda, G50 is exploring a historical zinc-lead mining district where drilling has confirmed gold, silver, zinc, and gallium mineralization in multiple vein structures. The project is located near the Mineral Park copper, molybdenum, and silver mine, and the company positions it as a precious and critical metals opportunity. In Nevada, the White Cap project is a historical gold mine where gold and antimony mineralization has been identified, previously drilled by Freeport McMoRan, and located near Scorpio Gold Corp's Manhattan Gold Mine project. G50, formerly known as Gold 50 Limited, is listed on the Australian Securities Exchange under the code G50 and trades on the OTCQX under the code GFTYF.
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