Phase One Program At The Gabbs Project

VANCOUVER - P2 Gold Inc. announced that drilling has commenced at its Gabbs Project in Nevada. Gabbs is located on the Walker-Lane Trend in west-central Nevada approximately 145 miles by paved road from Reno, Nevada.

“We’re off to a great start at Gabbs,” said, Joe Ovsenek, President and CEO . “We announced the Gabbs acquisition on May 17, 2021 and within two months have completed satellite hyperspectral and ground geophysics surveys, initiated a metallurgical test program, hired an exploration manager, received a drill permit and mobilized a drill to site.”

The Gabbs Phase One Drill Program consists of approximately 1,800 meters of diamond core drilling and approximately 8,000 meters of reverse circulation drilling. The diamond core drilling is expected to consist of six exploration holes totaling approximately 1,500 meters and two metallurgical holes totaling approximately 300 meters to collect samples from the oxide and transitional ore zones.

Due to the limited systematic exploration completed to date at Gabbs, the Company believes the full potential of each of the known zones of mineralization has yet to be recognized. The mineralized zones have not been tested along strike or at depth, and of the 494 holes drilled at Gabbs between 1970 and 2011, 180 holes (36%) ended in mineralization. Also, a significant number of holes drilled prior to 2004 were, depending on the focus of the operator, assayed only for gold or only for copper, not both metals.

A diamond drill rig has mobilized to Gabbs and has started drilling hole GBD-001, the first of six diamond drill holes in the Phase One Drill Program to test the strike and depth extent of the Sullivan Zone.