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Ashley Gold Initializes Phase III Drilling on Tak, Extends Surface Expression of the NTZ Vein to 300m
CALGARY, ALBERTA - July 22, 2026 – TheNewswire - Ashley Gold Corp. (CSE: “ASHL”) (“Ashley” or the “Company”) has mobilized drill crews for a Phase III drill
About this update from Ashley Gold Corp.
CALGARY, ALBERTA - July 22, 2026 – TheNewswire - Ashley Gold Corp. (CSE: “ASHL”) (“Ashley” or the “Company”) has mobilized drill crews for a Phase III drill program on its wholly-owned Tak property in Northwestern Ontario. The new campaign will target strike and step-out extensions on the 67Z and Northern Trench Zone (NTZ), where recent surface prospecting has extended the NTZ vein expression to 300 meters. Phase III Drilling Launch: Targeting high-priority step-outs along the 67Z and exploratory drilling to probe the NTZ depth. 300m Strike Extension in the NTZ: Successful prospecting and mapping have extended the NTZ vein’s surface expression to 300 meters, remaining open along strike. The vein parallels or splays off of the 1 km resistive body, which lies South (See Figure 1). Recent Surface Success: Follows historical highs and recent grab sampling returning grades up to 398 g/t Au. Fully Funded: The program is supported by a strong treasury and a recent follow-on financing raise of up to $500,000 to support increased meterage. Tranche 1 was announced closed on July 15, 2026, raising CDN$375,034.01 "As we finalize our logging and fire assays from Phase II, the sheer scale of the NTZ surface expression extending to 300 meters gives us added confidence as we kick off Phase III. The Tak QFP has undergone what appears to be multiple phases of mineralization and the NTZ Vein may be an overprint." stated Noah Komavli, President of Ashley Gold Corp. "With crews mobilized and the program fully funded, our focus remains on stepping out from the 67Z and proving up additional mineralization on the Tak property." Figure 1: Planned Drilling and Recent Prospecting Results Exploration Progress and Target Expansion Following recent prospecting success on the Northern Trench Zone (NTZ), which returned some of the highest-grade grab samples in the property's history, Ashley’s geological team has successfully mapped and defined the surface extension of the NTZ vein system to 300 meters. The mineralization remains open along strike and at depth, presenting a highly compelling target for immediate subsurface testing. Table 1: Second Pass Prospecting Assays Phase III Drill Campaign This third drill campaign will focus on high-priority targets along the strike of the 67Z and NTZ trends. The Company has designed the program for approximately 50-meter s...