Gemdale Gold has completed approximately 7,860 metres of drilling at its Pontio gold project in western Finland, targeting a maiden mineral resource estimate in early 2027.
The 2026 programme included 2,860 metres across 14 diamond drill holes, mainly in the southern S1 sector, where drill spacing has been reduced to approximately 50 metres. Combined with an earlier campaign of 5,009 metres across 28 holes and around 10,000 metres of historical drilling, the project’s database now totals approximately 17,860 metres.
Drilling Identifies Broad Gold Intersections
Gold mineralisation extends along approximately four kilometres of the M2 geological trend, across the N1, N2, S1 and S2 sectors. Mineralisation is associated mainly with diorite and diorite-porphyry intrusions.
Key results include 110 metres at 1.18 g/t gold in hole PONT093, including 5.19 metres at 14.01 g/t; 60.85 metres at 0.80 g/t in PONT096; and 47.16 metres at 0.82 g/t in PONT098. These represent downhole lengths rather than necessarily true mineralised widths.
Samples from the latest campaign are being analysed by ALS Minerals in Finland. Gemdale is also working with SLR Consulting on metallurgical testing, with preliminary results expected in the final quarter of 2026.
Eldorado Gold Provides Strategic Investment
In February 2026, Eldorado Gold Corporation invested approximately €1.49 million through a private placement, acquiring an initial 9.5% undiluted stake in Gemdale, with potential additional ownership through warrants. The agreement also includes participation rights in future equity financings and representation on Gemdale’s technical committee.
Pontio remains at the exploration stage, with no declared mineral resource, proven reserves, feasibility study or mine-development financing package. The maiden resource estimate, expected in early 2027, will help establish the scale of the deposit and guide decisions on further drilling and economic studies.
