Business
Update on Martello Gold Project
Richmond Hill Resources Plc has engaged Critical Discoveries Ltd to lead technical work on the Martello Gold Project in Ontario, Canada, including data compilation, target generation, and drill-programme planning, with desktop work expected to conclude by January 31, 2026. This follows an indicative term sheet announced on December 18, 2025, for the potential acquisition of a 100% interest in the project, though the certainty of this transaction proceeding remains unconfirmed. The company anticipates an active 2026 with progress on both the Martello Gold Project and the Saint Sophie Copper Project. Disclaimer*
About this update from Richmond Hill Resources Plc
[{"type":"text","content":"\n\n \n \n \n \n \n \n \n \n \n \n \n 5 January 2026\n \n \n \n \n \n \n \n \n \n Richmond Hill Resources Plc\n \n \n \n \n \n \n \n \n \n (“Richmond Hill” or the “Company”)\n \n \n \n \n \n \n \n \n \n Update on Martello Gold Project\n \n \n \n \n \n \n \n \n \n Richmond Hill Resources (AIM:RHR) announces that Critical Discoveries Ltd has been engaged to lead the technical work, including historic data compilation, target generation, and drill-programme planning on the Martello Gold Project in Ontario, Canada. \n \n \n \n \n \n \n \n \n Services to be supplied include: \n \n \n \n \n \n \n \n \n \n Researching all available data (geological mapping, geochemical results, drill logs, and geophysical surveys) and convert to modern formats suitable for integration and future exploration planning.\n \n \n \n \n \n \n \n \n Producing maps and figures summarising key exploration results and property highlights.\n \n \n \n \n \n \n \n \n Analysing historical data and geophysical/geochemical trends to identify priority drill targets.\n \n \n \n \n \n \n \n \n Providing a preliminary drill targeting plan for the maiden drill programme and for future drill programmes with recommended collar locations and rationale for each target.\n \n \n \n \n \n \n \n \n \n The desktop work is scheduled to be completed by 31 January 2026.\n \n \n \n \n \n \n \n \n As announced on 18 December 2025, the Company has entered into an indicative term sheet on which the Company can acquire a 100% commercial and beneficial interest in the Martello Gold Project (“Proposed Transaction”). There can be no certainty that a sale and purchase agreement will be entered into or that the Proposed Transaction will proceed as currently envisaged.\n \n \n \n \n \n \n \n \n \n Hamish Harris, CEO of Richmond Hill commented “The Board is pleased to commence work on the Martello Gold Project. It is pleasing that external consultants are able to progress the project on such an expedited basis.With external consultants now appointed on both Martello and the Saint Sophie Copper Project, there has been significant progress in a short period of time since admission and 2026 is set to be an active year for the Company.”\n \n \n \n \n \n \n \n \n \n This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are res...