15 Gold Zones in One Hole: Deepest Intercept Yet Extends High-Grade System Across 600 Meters
According to a February 20 research report from Ron Wortel of Couloir Capital, the firm reaffirmed a Buy rating on Dryden Gold Corp. with a fair market value target of CA$1.00 per share. The stock was trading at CA$0.38 at the time of publication, implying a projected upside of 164%, and the perceived risk rating was High. The updated target reflected “strong drilling results, the discovery of high-grade mineralization in parallel structures, and additional capital raised to fund an expanded exploration program.”
In the February report, Wortel highlighted that on February 4 the company reported “significant new drill results from the Pearl zone within the Gold Rock Target Area,” including hole DGR-032 returning 6.4 g/t gold over 3.30 meters, including 15.10 g/t gold over 1.00 meter, and hole DGR-031 intersecting 77.90 g/t gold over 0.50 meters in a second footwall structure. The report also noted that follow-up drilling at Sherridon included hole DSH-004 returning 1.10 g/t gold over 15.50 meters, including 25.20 g/t gold over 0.50 meters. The analyst stated that “the expanded Sherridon footprint materially enhances the company’s district-scale exploration thesis.”
The report stated that the company’s 2026 exploration budget stood at CA$11.0 million supporting approximately 32,000 meters of drilling, expanded from earlier management guidance of 23,000 to 25,000 meters. As of February 1, Dryden Gold had 217,601,618 shares outstanding and 239,993,346 on a fully diluted basis, with a cash balance of approximately CA$10.8 million and a market capitalization of approximately CA$82.7 million.
1Separately, John Newell wrote on February 25 that Dryden Gold Corp. had “met and exceeded its first three technical targets at CA$0.32, CA$0.40, and CA$0.46.” He stated that “that kind of follow-through does not happen on narrative alone. It happens when geology, funding, and execution begin to align.” Newell added that “the story has evolved from a structural hypothesis to an emerging district-scale confirmation” and concluded that “at the current price of CA$0.37, we continue to view the shares as a Speculative Buy.”
Source: https://www.streetwisereports.com/article/2026/03/03/15-gold-zones-in-one-hole-deepest-intercept-yet-extends-high-grade-system-across-600-meters.html
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