Dryden Gold Corp. isn’t just another name in Ontario’s gold belt. They’re rewriting what we thought we knew about it. Now from scratching the Elora gold system to a full kilometer, to now uncovering new zones at Gold Rock and pulling high grade drill results with visible gold, this team is building serious momentum and with a fresh round of financing, their 2025 exploration plans are only just heating up.
The following is a transcription of the above video, and The Market Online has edited it for clarity.
Lyndsay: You have been making a lot of noise in Ontario lately, extending the Elora gold system, like I mentioned, and uncovering new discoveries at Gold Rock, as well as hitting those high grade drill results. I mean, what’s the bigger picture here? Are we just scratching the surface of what Dryden’s sitting on?
Trey: Well, most of the drill results that we’ve come out with have so far have been focused in one square kilometer area. Really, we call the Gold Rock target. It’s part of the larger 20 kilometer strike extension in the Gold Rock camp and 70 kilometers of strike that we have in this project. This is a huge project. It sits right on the Trans-Canada Highway with great infrastructure, and it’s just very under explored. So, to say we’re scratching the surface, I’m not even sure we’ve put a scratch there yet.
Lyndsay: Well, let’s dig into that just a little bit more then. Walk us through what that means for potential scale of the Gold Rock Camp and your other regional projects.
Trey: Well, like I said, it’s 70 square kilometers, so it’s a very big property package. It’s the kind of package that the major and mid tiers are all following us. And of course we have strategic investments from Centerra Gold, and our largest shareholder is Alamos Gold. So, we’re already on the radar but we’ve got three different styles of mineralization throughout the district. It really is a district scale play with very high grade Archean low-gold system in the Gold Rock camp down at Sheridan. One of our regional projects is in ultramafic rocks. It’s a bit different setting down there, and then a completely different setting over at Hyndman where we have granodiorite rocks. That’s a lower grade bulk tonnage target.
Lyndsay: If we look ahead here a little bit then Trey, 2025 is already shaping up and will continue to shape up to be a big exploration year for you. Where exactly does your exploration plan stand right now, and what are the next key milestones investors should be watching for then?
Trey: We came into this year, Lyndsay, with a $5.8 million exploration budget. We’re about two thirds of the way through it now as far as the drilling and the assaying, everything.
So, we’ve still got funded drilling to do some regional exploration with mapping and channel sampling at Hyndman and assays still in the lab from some of the drilling that has been completed. So, we’ve completed a lot, but we’ve got a lot to go and we’re already looking out towards our plan for 2026.
Lyndsay: That’s amazing. Lots in the bucket and lots in the funnel. We always love hearing that. So of course, to make all of that happen Trey, you recently also announced the equity financing. The biggest question surrounding that is how you’re planning to put those funds to work and how quickly investors can expect to see the capital is in action.
Trey: Well, the thing that’s important, another big attribute of Dryden Gold is our shareholder base. We just have excellent shareholders. Some of the largest most famous people in the business. Rob McEwen was our lead order on the RTO financing. Eric Sprott’s involved, Bob Quartermain ‘s involved, and some very significant funds, the EuroPac Gold Fund, the Delbrook Capital, Sprott. And some of these funds, they saw the progress we were making, and they said, let’s not wait around, let’s get funded.
Even though you haven’t spent all your money for 2025, let’s look out towards 2026 and get that money raised now. So, with a couple of lead orders from our large institutional clients, we were able to raise $7.8 million.
We probably won’t start spending that money on exploration until October. And then it’ll take us well into 2026. So, we’re fully financed both with the hard dollars for G&A and about a $6.5 million dollar budget for 2026. And so, while we have a lot of drilling we’re not going to have any more financing needs until the latter part of 2026.
Lyndsay: That backing with that confidence, that sends a serious message for sure. So you have the multiple discoveries, you have the visible gold, you have expanding systems, and you’ve got that momentum. How do you keep pushing the pace while also making sure you’re maximizing value for shareholders?
Trey: Well, the key is that you’ve got to get the dollars in the ground, and we have worked putting our own facilities together there in Dryden. So, we now have if not the lowest, some of the lowest drilling costs in the business. Most of our employees, which we’re up to a 10 person staff now, and they all fall into that, those drilling costs. So when the drilling drills are turning, everybody’s getting paid.
The other key is getting the money into the ground. So, we try and be very smart about where we put our marketing dollars, our G&A is very low. We don’t have fancy offices anywhere. We’re pretty much a virtual company that way.
Our office is at our core shack in Dryden, right at the project. So not a lot of expenses. We have very low burn rate. And then we try and be very smart about spending the marketing dollars so that we’re getting between 80 and 85 cents out of every dollar we raise into the ground.
Dryden Gold Corp is trading on the Venture under the ticker symbol V.DRY and you can learn more over on their website at drydengold.com
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