Richmond Hill Resources PLC (AIM: RHR, Frankfurt: V39) has announced that diamond drilling is underway at the historic Sakoose gold mine, part of its 100%-owned Martello Gold Project in north-western Ontario, Canada. The company confirmed that the first hole has been completed and the second hole commenced within a planned nine-hole programme of approximately 1,400 metres. The programme aims to confirm high-grade gold reported by earlier operators and test whether gold mineralisation in surrounding host rocks could add further width to vein intersections. No assay results from the current programme are yet available.

Key Points

  • Richmond Hill Resources PLC (AIM: RHR, Frankfurt: V39)
  • Diamond drilling has commenced at the Sakoose gold mine within the Martello Gold Project, with the first hole completed and second hole underway
  • Nine holes planned across approximately 1,400 metres; the Martello Gold Project covers approximately 6,750 hectares comprising 202 mining claims
  • Investors should watch for assay results from the current drilling programme, which will inform future exploration decisions across the property

Sakoose's Historical Production of 3,669 Ounces at 14.25 g/t Au Underpins Richmond Hill's Drilling Targets

The Sakoose gold mine carries a notable historical production record spanning two periods of operation. Between 1897 and 1902, approximately 7,283 tonnes of ore yielded 3,413 ounces of gold at a calculated average recovered grade of approximately 14.6 g/t Au. A second phase between 1944 and 1947 produced a further 256 ounces from approximately 726 tonnes at approximately 11.0 g/t Au. Cumulative recorded production totalled approximately 8,009 tonnes and 3,669 ounces of gold at approximately 14.25 g/t Au. The company notes these historical figures have not been independently verified in accordance with a current mineral-resource reporting standard and do not constitute Mineral Resource or Mineral Reserve estimates.

Nine-Hole, 1,400-Metre Programme Targets Vein Extensions and Surrounding Host Rock at Sakoose

Richmond Hill's current programme pursues two defined objectives: confirming high-grade gold intersections reported by earlier explorers and testing interpreted extensions of the vein system, and assessing whether gold mineralisation in the surrounding host rocks adds meaningful width to those vein intersections. The announcement states that expanded systematic sampling across three planned holes will specifically address this second objective. Geological logging and sample selection are already underway following completion of the first hole. Previous historical exploration at the site included 26 diamond drill holes totalling approximately 3,776 metres completed by Venturex Resources and Nexus Resource Corporation.

Martello Gold Project's 6,750-Hectare Land Package Hosts Multiple Additional Gold Prospects

The Martello Gold Project is located approximately 45 kilometres southeast of Dryden in the Western Wabigoon Subprovince of north-western Ontario. Beyond Sakoose, the property contains a portfolio of additional prospects and historical mineral occurrences, including Maw, New Church Lake, Tabor, Copeland, Brockman and Santa Maria. Chief Executive Hamish Harris stated in the announcement that results from the Sakoose programme will help determine where the company directs follow-up drilling and how it advances exploration across the wider property. Richmond Hill holds the entire project on a 100%-owned basis.

Assay Results Awaited as Richmond Hill Advances from Historical Interpretation to Direct Testing

The announcement confirms that no assay results from the current drilling programme are yet available, meaning the operational and financial significance of the work remains to be determined. Geological logging and sample selection are ongoing. Investors may be watching closely for laboratory results, which will represent the first modern, directly tested data from this phase of exploration at Sakoose. The company cautioned that forward-looking elements of the announcement are subject to risks including regulatory processes, technical uncertainties, and results of exploration activities across the Martello property.