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The latest update is out from South Atlantic Gold ( (TSE:SAO) ).
South Atlantic Gold has begun mobilizing for its fully funded Phase III diamond drilling campaign at the Pedra Branca project in Brazil, committing about C$3.0 million to a 5,000-metre program over three targets. The work will use two diamond drill rigs and is designed to test deeper mineralization and extensions at Queimadas before moving to Mirador and Igrejinha, supported by geotechnical and other exploration activities.
The program, financed from a C$4.2 million private placement completed in March 2026, includes an induced polarization survey to map sulphide-bearing zones and re-sampling of historical core for updated assays and geochemistry. By probing deeper at Queimadas and expanding into undrilled or lightly drilled zones at Mirador and Igrejinha, South Atlantic aims to demonstrate the scale and continuity of the Pedra Branca gold system, with initial assay results expected to start informing investors and project decisions from the second quarter of 2026.
More about South Atlantic Gold
South Atlantic Gold Inc. is a Canadian mineral exploration company focused on advancing the Pedra Branca Gold Project in Ceará State, Brazil. The company targets orogenic gold systems and is working on three main resource areas, Queimadas, Mirador and Igrejinha, under a 2021 NI 43-101 technical framework to expand and upgrade its inferred resources.
Average Trading Volume: 313,913
Technical Sentiment Signal: Buy
Current Market Cap: C$9.32M
Learn more about SAO stock on TipRanks’ Stock Analysis page.