TMX Newsfile·2026-03-03 22:05Core Viewpoint - Canadian Gold Resources Ltd. has announced initial assay results from its diamond drill program at the Lac Arsenault Project, confirming high-grade gold mineralization within the Baker Vein system [1][5]. Drill Hole Details - The drilling is focused on testing mineralization beneath the planned bulk sample area of the Baker and Mersereau veins [2]. Program Objectives - The drill campaign aims to confirm historic drilling results, demonstrate vertical continuity of gold mineralization, test for down-dip extensions of known high-grade zones, improve vein geometry definition, and support resource development [3]. Drilling Methodology - The Baker Vein is being drilled using a fan pattern with three holes per setup at varying dips, with five setups completed to date [4]. This systematic approach is intended to evaluate vertical grade continuity and refine structural interpretation [4]. Management Commentary - The President and CEO of Canadian Gold Resources expressed optimism about the initial results, which confirm high-grade gold mineralization and support the objective of demonstrating vertical continuity beneath historic workings [5]. Sampling and Analytical Methods - Drilling was conducted using HQ-sized diamond core, with samples transported to Activation Laboratories Ltd. for analysis. The company employs a quality assurance and quality control program to ensure analytical accuracy [6]. Project Overview - The Lac Arsenault Property is located in Québec's Gaspé region and is interpreted to share geological characteristics with other prolific gold-bearing systems. The property hosts several high-grade vein systems and covers over 3,600 hectares, strategically located near infrastructure [7]. Historical Resource Estimates - Historical estimates of mineral resources predate NI 43-101 and require further verification. The company considers these estimates relevant as they indicate significant gold and silver mineralization at shallow depths [8][10]. Future Plans - To comply with current standards, Canadian Gold plans to conduct systematic drilling to confirm grades and geometry, build a validated geological model, and commission an independent NI 43-101 compliant resource estimate [12][23].