Canagold Speeds Up Antimony Strategy at New Polaris with 2026 Drill Program

Canagold Resources ( (TSE:CCM) ) just unveiled an update.

Canagold Resources is advancing its New Polaris gold project in British Columbia, where it is exploring both gold and antimony mineralization as part of a broader strategy to become a leading project developer. The company is progressing the project through feasibility and permitting while seeking additional advanced-stage assets to grow its development pipeline.

The company has launched a fully funded 2026 work program at New Polaris that includes about 7,000 metres of diamond drilling to expand high-grade gold–antimony resources near the current mine plan. In parallel, additional metallurgical and engineering studies will optimize processing flowsheets for saleable antimony metal, aiming to add a meaningful incremental revenue stream with limited extra costs.

By quantifying the impact of antimony revenue on cash flow and returns, Canagold expects to integrate antimony production into New Polaris’ project economics after the 2026 drilling and test work. Management believes this strategy will enhance the project’s strategic and economic profile amid rising global demand for secure supplies of critical minerals such as antimony, potentially strengthening the company’s industry positioning and appeal to stakeholders.

The most recent analyst rating on (TSE:CCM) stock is a Hold with a C$0.59 price target. To see the full list of analyst forecasts on Canagold Resources stock, see the TSE:CCM Stock Forecast page.

Spark’s Take on TSE:CCM Stock

According to Spark, TipRanks’ AI Analyst, TSE:CCM is a Neutral.

The score is held back primarily by weak financial performance (no revenue, ongoing losses, and negative free cash flow), despite a low-debt balance sheet. Technicals add modest support due to a strong trend above moving averages, but overbought signals increase pullback risk. Valuation is also constrained by negative earnings and no provided dividend yield.

To see Spark’s full report on TSE:CCM stock, click here.

More about Canagold Resources

Canagold Resources Ltd. is an advanced-stage mineral development company focused on advancing its 100%-owned New Polaris project in British Columbia through feasibility, permitting, and eventual production. The company targets expansion of its asset base by acquiring additional advanced projects, aiming to position itself as a leading gold-focused project developer with a team of technical experts creating value for shareholders.

Average Trading Volume: 61,784

Technical Sentiment Signal: Strong Buy

Current Market Cap: C$106.7M

For a thorough assessment of CCM stock, go to TipRanks’ Stock Analysis page.