Explorer Targets High-Grade Gold in Tier 1 Ontario District

Source: Ron Wortel 02/14/2025

A Couloir Capital analyst writes that the outlook for the stock for Dryden Gold Corp. (DRY:TSXV; DRYGF:OTCQB) is “positive,” giving it a Buy rating. Read to see how high the analyst predicts the stock could go.

Couloir Capital Analyst Ron Wortel wrote that the outlook for the stock for Dryden Gold Corp. (DRY:TSXV; DRYGF:OTCQB) is “positive,” giving it a Buy rating and a CA$0.45 per share target price, a projected return of 346% at the time of the note on February 7.

“The company’s strong financial position with institutional and major investor backing positions the company for further consolidation of the camp or the purchase of other projects that can add value to its portfolio and asset base,” Wortel wrote. “We recommend Dryden Gold as a buy for investors looking for exposure to gold exploration success with discovery upside in a positive gold price market.”

The stock “remains a higher-risk opportunity as the company does not hold any compliant resource gold deposits,” Wortel noted. However, “We expect the company to generate significant news flow in 2025 to keep market interest in the story with their planned and fully funded exploration programs.”

A New District Player?

Dryden Gold is a well-funded junior explorer launching its 2025 exploration program targeting high-grade gold in the Tier 1 mining jurisdiction of northwestern Ontario. With over 40 kilometers of highly prospective structures, the “district-scale land package is ideal for Archean orogenic lode gold deposits,” Wortel wrote.

The Dryden gold camp saw small-scale production at the turn of the 20th century but has had limited exploration since then, he noted.

“The team that created this new (company) saw this as an opportunity to build a new district player and use their regional experience to make discoveries and build on the known gold prospects,” according to Wortel.

The company’s team included technical personnel with extensive experience in northwest Ontario’s Red Lake Camp, which hosts the region’s largest gold deposits and active mines, the analyst wrote.

“This team worked as both exploration and production geologists to give them the outlook that exploration needs to find gold that can be mined profitably,” Wortel wrote. “This team identified the Dryden gold camp area as an analog to Red Lake, which is at a much less advanced level of understanding. The area also provided open ground and significant blocks to build a district-scale land package. The company was able to find financial support as a private company to make deals with landholders and build their now 60,000-hectare (ha) plus land package.”

NW Ontario Junior Explorers Attracting ‘Investor Attention’

While the claim block remains under-explored with no significant historical production, “past drilling has returned spectacular gold results,” the analyst said.

The camp also is in a strategic location with infrastructure, including established road networks, power, and a supportive mining ecosystem, he said.

The company is fully funded for 2025 with CA$7.1 million in cash at the end of last year and a 2025 exploration budget of CA$5.8 million, the research report said.

“Junior explorers in NW Ontario are attracting increasing investor attention, with Dryden Gold positioned as a standout opportunity in this active mining district,” Wortel wrote.

Wortel continued, “We believe that the success of the programs thus far in identifying new high-grade targets coupled with the shallow and well-understood targets lends to a lower potential finding cost overall and as they continue to refine their model.”

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Important Disclosures:

1. Dryden Gold Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Dryden Gold Corp.
3. Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
4. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

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Disclosures for Couloir Capital and Dryden Gold Corp., February 7, 2025:

DISCLAIMER: This report has been prepared by an analyst on contract with or employed by Couloir Capital Ltd. The analyst certifies that the views expressed in this report, which include the rating assigned to the issuer’s shares as well as the analytical substance and tone of the report, accurately reflect his or her personal views about the subject securities and the issuer. No part of his / her compensation was, is, or will be directly or indirectly related to the specific recommendations.

Couloir Capital, its affiliates, and their respective officers, directors, representatives, researchers, and members of their families may hold positions in the companies mentioned in this document and may buy and/or sell their securities. Additionally, Couloir Capital may have provided, in the past and may provide, in the future, certain advisory or corporate finance services and receive financial and other incentives from issuers as consideration for the provision of such services.

Couloir Capital has prepared this document for general information purposes only. This document should not be considered a solicitation to purchase or sell securities or a recommendation to buy or sell securities. The information provided has been derived from sources believed to be accurate but cannot be guaranteed. This document does not consider the particular investment objectives, financial situations, or needs of individual recipients and other issues (e.g., prohibitions to investments due to law, jurisdiction issues, etc.) that may exist for certain persons. Recipients should rely on their own investigations and take their own professional advice before making an investment. Couloir Capital will not treat recipients of this document as clients by virtue of having viewed this document.

Company-specific disclosures, if any, are below:

1. In the last 24 months, Couloir Capital Ltd. has been retained under a service agreement by the subject issuer. This service agreement includes analyst research coverage.

2. The views of the Analyst are personal.

3. No part of the Analyst’s compensation was directly or indirectly related to the specific ratings as used by the research Analyst in the Reports.

4 The Analyst does not maintain a financial interest in the securities or options of the Company.

5. Couloir Capital does maintain a financial interest in the securities or options of the Company.

6. The information contained in the Reports is based upon publicly available information that the Analyst believes to be correct but has not independently verified with respect to truth or correctness.

( Companies Mentioned: DRY:TSXV; DRYGF:OTCQB, )

Source: https://www.streetwisereports.com/article/2025/02/14/explorer-targets-high-grade-gold-in-tier-1-ontario-district.html