Markets

Western Gold Completes First Drill Campaign at Caledonian Project

By Markets Desk · 2026-09-09 · 1 min read

A geological core sample lying on a wooden table next to a rock hammer — Illustration: Tradingbird

Western Gold finished drilling 667 meters at its first target, reporting surface intercepts up to 12.95 g/t gold.

Western Gold Exploration Ltd. completed its maiden drilling campaign at the Caledonian Gold Project in Scotland. The company drilled four holes totaling 667 meters at the Coire a'Ghabhalach target. This marks the end of the initial phase of exploration at the site.

Surface sampling programs identified high-grade gold intervals before diamond drilling began. The company reports intercepts of up to 12.95 grams per tonne of gold in backpack drill samples. Assay results from the diamond drill holes are expected in October 2026.

Surface Sampling Reveals High Grade Zones

Systematic channel and backpack drilling constrained vein width and structural orientation. This data reduced targeting risk for the diamond drilling program. Specific samples returned significant values of gold, lead, and zinc.

One sample interval measured 1.40 meters at 9.94 g/t gold with 0.82% lead. Another interval measured 1.80 meters at 7.53 g/t gold. A separate sample recorded 1.00 meter at 12.95 g/t gold. These results indicate polymetallic mineralization across the prospect.

Joint Venture Structure and Ownership

Western Gold holds a 90% interest in the Glen Lyon Joint Venture. The company also acts as the operator for the project. Acrux Gold holds the remaining 10% interest in the agreement.

Acrux Gold owns the Cononish mine, Scotland’s only producing gold and silver operation. The Caledonian Gold Project lies along the same geological strike as Cononish. This proximity supports the geological model for the new target.

Geological Context in Grampian Terrane

The project is located within the Grampian Terrane of the Caledonian mineral belt. This region stretches from Northern Britain to Scandinavia and North America. It is a known district for gold deposits.

Nearby deposits include Cavanacaw and the Curraghinalt project in Northern Ireland. Curraghinalt holds over six million ounces of measured and indicated gold resources. According to GN markets/commodities (en-US), the veining at Coire a'Ghabhalach shows characteristics similar to mineralization at Cononish. Drilling has now moved to the second target, Creag Sheileach.

Based on reporting by GN markets/commodities (en-US), compiled by the Tradingbird desk.