Cambria Gold Mines Inc. (TSXV: CAMB) (OTCQX: CAMVF) (“Cambria” or the “Company“) is pleased to announce that construction has commenced on early works on the access road with the purpose of developing the high-grade Red Mountain Gold Deposit located northeast of Stewart, BC.
Construction of the approximately 23 km long road is anticipated to continue through the 2026 and 2027 seasons; Phase I will focus on rebuilding a 13 km long road bed, first constructed in 1910 as a wagon trail to access placer gold mines along Bitter Creek, later extended to the base of Red Mountain at Bromley Humps by Lac Minerals in 1994. The road will start from the paved Highway 37A just North of Stewart. It is anticipated that upon the commencement of production, mineralized material will be transported for processing at Cambria’s 2,500 tonne per day mill at the Premier Mine, for a total trucking distance of approximately 50 kilometers.
Cambria’s Red Mountain Gold Deposit hosts Measured and Indicated Resources of 3.19M tonnes averaging 7.63 g/t Au and 21.02 g/t Ag, for 783,000 ounces Au and 2,156,000 ounces Ag. The Deposit hosts additional 405,000 tonnes of Inferred Resources at 5.32 g/t Au and 7.33 g/t Ag for 69,000 ounces Au and 96,000 ounces Ag. The deposit needs minimal infill drilling, with 544,000 ounces Au in the Measured Category at an average grade of 8.81 g/t Au1. The deposit has over 2,000 meters of production-size underground workings and is a wide and tabular deposit, suitable for bulk underground mining methods such as longhole stoping.
“The development of Red Mountain is one of the key components to a successful operation. It is one of the highest quality undeveloped deposits in Canada.” said Rob McLeod, President and CEO for Cambria Gold Mines. “Additionally, we continue to advance infill drilling, future permit amendments and engineering studies at the three significant PGP deposits: Big Missouri, Silver Coin and Premier. We are on track to complete an updated Feasibility Study incorporating all four deposits by Q4 2026. The Company will provide an update on this work in the near future.”
“The development of the Red Mountain Access Road through the mountains of the Golden Triangle, often with significant weather events is a challenging project that our permitting, engineering and construction teams have fully embraced.” said Gordon Doerksen, Vice-President Projects for Cambria Gold Mines. “We have full confidence that our team, plus our engineering and construction contractors have the experience and capability to execute on this project. Our goal is to complete the first stage of the road to the Bromley Humps location during 2026.“
For construction of the initial road sections, work will be performed by contractor West Point Rail and Timber Co. Engineering includes work by Fortec Consulting and Onsite Engineering, with environmental monitoring by Nisga’a Growth Corp. Cambria’s Director of Construction, Nick Stoneberger, will oversee the work. Additional contractors and consultants will be added as the road advances. In addition to the road construction, fisheries offset work will be completed to protect and enhance salmon spawning habitat in the Bear River Valley.
Figure 1. Red Mountain Access Road
Figure 2. Red Mountain Access Trail
1 —For additional information on the Red Mountain resource numbers refer to the NI 43-101 Technical Report “Premier & Red Mountain Gold Project Feasibility Study” with a report date of May 22, 2020. The Red Mountain resource was authored by Gilles Arseneau, P.Geo., a Qualified Person as defined by NI 43-101.
Qualified Person
The scientific and technical information within this news release was reviewed and approved by Blaine Smit, P.Geo. Vice President Exploration for Cambria Gold Mines Inc. Mr. Smit is a non-independent “Qualified Person” as defined under NI 43-101 – Standards of Disclosure for Mineral Projects.