The KE Report

In this Company Update, I welcome back Mike Burke, Director and Vice President of Corporate Development at Sitka Gold Corp. (TSX-V: SIG | OTCQB: SITKF | FSE: 1RF), to discuss the recent drill results from the RC Gold Project in the Yukon.

Key Discussion Points:

The Blackjack Drill Results: A deep dive into the geological significance of Hole 128, which delivered a 348 meter intercept of 1.12g/t gold.

The Depth Component: Why escalating grades at depth are reshaping the exploration model, shifting focus toward economic transitions from open-pit to underground operations.

Rhosgobel Expansion: An analysis of the first seven holes of the season and how they are expanding the known footprint of this key target area.

The Tungsten Advantage: The metallurgical potential of tungsten as a high-value byproduct to smooth out grades and boost overall project economics.

What Lies Ahead: A comprehensive look at the progress of the aggressive 60,000-meter program and upcoming catalysts from high-priority targets like the Saddle zone and Pukelman contact.

 

If you have any follow up questions for the team at Sitka Gold please email me at Fleck@kereport.com. 

 

Click here visit the Sitka Gold website to learn more about the Company - https://sitkagoldcorp.com/

 

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Investment Disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Shane Williams, President and CEO Of West Red Lake Gold Mines (TSX.V:WRLG – OTCQB:WRLGF), joins me to review the key metrics from Q2 operations which demonstrated substantially higher mined ounces and gold produced at their flagship Madsen Gold Project, in the Red Lake district of Ontario, Canada. 

 

Q2 Operating Highlights

 

Mined tonnage increased 46% to 75,524 tonnes in Q2 from 51,616 tonnes in Q1, while mined ounces increased 73% to 10,459 ounces from 6,033 ounces in the first quarter, reflecting both higher mining rates and an increase in average mined grade.

Gold production totaled 8,576 ounces during Q2 2026, representing a 51% increase from the 5,667 ounces produced in Q1 2026.

Due to increased mine productivity a surface stockpile of approximately 10,768 tonnes had been generated by the end of Q2 representing approximately 1,500 contained ounces of gold based on estimated grades.

The mill achieved average processing rates of approximately 842 tonnes per day (“tpd”). Over the second half of 2026, processing rates are expected to increase to approximately 1,000 tpd.

 

 

Shane reviewed that the development-focused strategy implemented during the first half of 2026 is now translating into measurable operating improvements as mine sequencing advanced to unlock multiple stoping fronts and operational flexibility continued to improve.  Additionally, all the exploration success had at the 4447 Zone is now factoring into mining and production here in H2, and he points to all the recent success at the 904 Zone having a similar trajectory with first mining anticipated in H2 of 2027.

 

Next we discussed the higher All-In Sustaining Costs (AISC) in Q4 and Q1 and how the ongoing ramp-up in production will steadily lower the costs over the next few quarters.  Shane highlighted that in the second half of this year that the shaft will be rehabilitated and begin hoisting ore, and this will further drive down costs over the next few quarters. The steady nameplate run-of-mine production and costs will likely be achieved in 2027 and beyond.  We also discussed that the higher oil and diesel prices were not a major cost input and have very muted effect on their underground mining operations where the site mostly runs on cheap hydroelectric power.

 

We then discussed the next phase of growth which will see satellite deposits like Fork, Starratt-Olsen, and eventually Rowan augment the production at Lower Austin and Austin South at Madsen.   The Company will be putting out a Pre-Feasibility Study in September wrapping updated economics around Madsen and factoring in how future production from Rowan would increase production growth and take the company to the next level of producer.

 

Wrapping up we discussed the many areas of focus for exploration and resource expansion, including greenfield surface targets, past producing brownfield areas like Starratt-Olsen and Mt Jamie, and underground targets as the company continues to dewater areas of Madsen that haven’t been touched by modern exploration or mining; with last mining occurring back in the 1960s and 1970s.

 

 

If you have any follow up questions for the team over at West Red Lake Gold please email me at  Shad@kereport.com.

 

In full disclosure, Shad is a shareholder of Goliath Resources at the time of this recording and may choose to buy or sell shares at any time.

 

 

Click here to visit the West Red Lake Gold website and read over the recent news we discussed.

 

 

 For more market commentary & interview summaries, subscribe to our Substacks:

 

The KE Report: https://kereport.substack.com/

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Investment disclaimer:

This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Roger Rosmus, Founder, CEO, & Director of Goliath Resources Ltd (TSX-V: GOT) (OTCQX: GOTRF) (FSE: B4IF), joins me for an exploration update reviewing the visual takeaways and geological interpretation from the first 10 holes from the 2026 drill program at the Surebet Discovery on the Golddigger Property; located in the Golden Triangle, B.C. Multiple step-out intercepts of gold-bearing mineralization have expanded the Bonanza Zone by 750 meters to the southwest, the Golden Gate Zone by 400 meters to the south and 200 meters to the north.

 

The Company is in a strong financial position with a fully funded large 50,000 meter expansion drill program lined up in 2026, that will be testing the limits of the mineralization, as well as pushing the geological thesis and their understanding of the multiple types of gold mineralization.

 

All drill holes completed thus far during the 2026 drill campaign have intersected quartz-sulphide mineralization which generally corresponds to high-grade gold mineralization.

10 out of 107 planned drill holes have been completed with a total of 4,983 m drilled in 2026.

Visible gold to the naked eye (VG-NE) has been intersected in multiple veins and shear zones from 6 out of 10 holes drilled in 2026, continuing to confirm the consistency of the mineralization within the Surebet system that remains wide open in multiple directions

Assays are pending on all 2026 drill holes completed to date.

5 drill rigs are turning at present, and 2 more rigs are on-site and will start up in a week.

 

This year’s program will be mainly focused on expanding their 5 Main Mineralized Zones at the Surebet Discovery. Much of the focus on these initial holes was stepping out and expanding the Bonanza Zone and Golden Gate Zone.  Data compilation and interpretation is underway which will be used to potentially vector in on the indicated Motherlode causative intrusive source to this extensive high grade gold system with widespread VG-NE.

 

 

If you have any questions for Roger about Goliath Resources, then please email them to me at Shad@kereport.com .

 

In full disclosure, Shad is a shareholder of Goliath Resources at the time of this recording and may choose to buy or sell shares at any time.

 

 

Click here to follow the latest news from Goliath Resources

 

 

 For more market commentary & interview summaries, subscribe to our Substacks:

 

The KE Report: https://kereport.substack.com/

Shad’s resource market commentary: https://excelsiorprosperity.substack.com/

 

 

Investment disclaimer:

This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Jack Henris, President and COO, and Shawn Campbell, CFO of Dakota Gold (NYSE American: DC), both join me for a visual exploration and development update on their Richmond Hill Oxide Heap Leach Gold Project; located in the historic Homestake District of South Dakota, near existing mining infrastructure. We review all the drill results from 2025 and 2026 that will be incorporated into the upcoming resource estimate and Pre-Feasibility Study (PFS) in Q4, and the timeline of key development studies that will feed into updated Feasibility Study economics in 2027. We also highlight the upcoming drill program at their Maitland Gold Project, which will lead into a maiden resource estimate.

 

We start off with Shawn reviewing the existing site and regional infrastructure advantages along with the resources at Richmond Hill that were defined in prior years drilling, while Jack outlined the key economic metrics as outlined in the existing SK-1300 Internal Assessment of Cash Flow (IACF).  Richmond Hill is one of the largest undeveloped oxide gold resources in the United States being advanced by a junior mining company, with over 6 million ounces of gold and over 60 million ounces of silver moving along the pathway of development into heap leach production as soon as 2029.

 

The 2026 Drill Campaign is now complete, and it totaled 17,273 meters of infill, expansion, and geotechnical drilling across 112 holes. Results from the 2025 and 2026 drill campaigns at Richmond Hill are being incorporated into a Pre-Feasibility Study (“PFS”) in the fourth quarter of 2026.

The exploration team has been encouraged by the series of solid results from the northeast expansion drilling, which continues to identify higher-grade zones that complement the large heap-leachable resource at Richmond Hill.

This data will support an updated mineral resource estimate, refine the geo-metallurgical model, and deliver a single optimized mine plan with sequencing.

Jack highlighted that the results being intercepted in the Northeast Project area contain much higher grades than the average overall resource grade. These results have encouraged their team to consider trade-off studies for the upcoming Pre-Feasibility Study (PFS), to potentially access these higher-grade areas in the first several years of mining.

These trade-off studies that will factor into the upcoming PFS will be analyzing the fine-tuning of the project economics around the grade optimization, mine optimization, amount of material processed, and run-of-mine streamlining.

 

Supported by their $107 million cash position as of March 31, 2026, Shawn pointed out that this strong capital position has allowed the Company to announce that they’ve secured the electrical substation build slot and are advancing engineering, site layout, and operational readiness along the project’s critical path. These workstreams will go above and beyond reporting reserves in 2026 PFS, and metallurgical test results and engineering studies will then inform the Feasibility Study to be completed in the first half of 2027.

 

Shawn reviews the maps of where the key site build-out will go on the private land, but also highlighted the potential to expand the Richmond Hill Project out beyond into the forest service lands in the fullness of time.  There was information shared that there is also opportunities in the future for the sulphide material underneath the oxide material at Richmond Hill.

 

Wrapping up, Jack shares that the drill program for this year just got underway at the Maitland Gold Project, with 5,578 meters (18,300 feet) planned over 44 holes.

The goal of this infill drilling, when combined with historic drill results, will be to define a maiden resource for the Tertiary-aged Unionville gold Zone.

There may be some additional work into the JB Gold Zone which has iron formation mineralization similar to the Homestake Mine style of gold mineralization.  

 

 

If you have any questions for Jack or Shawn regarding Dakota Gold, then please email those to me at Shad@kereport.com.

 

In full disclosure, Shad is a shareholder of Dakota Gold at the time of this recording, and may choose to buy or sell shares at any time.

 

Click here to follow the latest news from Dakota Gold

 

Click here to view the YouTube Version of this interview:

 

 

 For more market commentary & interview summaries, subscribe to our Substacks:

 

The KE Report: https://kereport.substack.com/

Shad’s resource market commentary: https://excelsiorprosperity.substack.com/

 

 

Investment disclaimer:

This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this Company Update, I am joined by Eric Roth, President and CEO of Capella Minerals (TSXV: CMIL / OTCQB: CMILF), to discuss the company’s latest exploration advancements across northern Finland under their earn-in joint venture with Tümad. Eric shares critical insights from the recently completed winter drill program at the Killero East project, detailing what the high-grade copper mineralization and newly defined structural corridors mean for the system's overall scale. He also introduces the newly launched diamond drilling program at Killero West, where the team is actively targeting promising new gold-copper anomalies.

Key Topics Discussed:

Killero East Drill Results: What the high-grade copper, silver, and zinc intervals reveal about a potentially larger massive sulfide system.

Killero West Diamond Drilling Launch: Insights into the targets and goals behind the newly initiated scout drill program in northern Finland.

Tümad Earn-In Joint Venture Update: Where Capella stands with its Year 1 funding and drilling commitments under the joint venture.

Regional Pipeline Progress: An overview of upcoming results and permitting progress across the Company’s project portfolio. .

 

If you have any follow up questions for Eric please email me at Fleck@kereport.com. 

 

Click here to visit the Capella Minerals website to learn more about the Company. 

------------------------

For more market commentary & interview summaries, subscribe to our Substacks: 

The KE Report: https://kereport.substack.com/ 

Shad’s resource market commentary: https://excelsiorprosperity.substack.com/

Investment Disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.