American Eagle Gold (TSXV: AE) is preparing for a significant expansion of its exploration activities at the NAK copper-gold project in British Columbia, announcing a 50,000 metre drill program for 2026. The plan represents a shift to year-round operations, supported by a proforma cash position exceeding $55 million.
The junior miner’s aggressive 2026-2027 campaign follows a year of substantial tightening in its capital structure. Industry majors Teck Resources and South32, along with strategic investors Eric Sprott and the Ore Group, now hold more than 50% of the company’s outstanding shares.
The upcoming season, slated to begin in April, will initially deploy three drill rigs, with a fourth expected as seasonal conditions stabilize. The program is designed to test seven distinct target zones across a mineralized footprint that currently measures approximately 1.5 by 1.7 kilometres.
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“Areas once thought to be less prospective or barren are now proving to host continuous mineralization,” Chief Executive Officer Anthony Moreau said in a statement. He noted that the project has reached a critical mass that justifies the transition toward formal technical studies.
Beyond exploration, a portion of the 2026 budget is earmarked for metallurgical testing and increasing the confidence levels of known high grade zones. The data gathered over the next year is expected to form the basis for a maiden mineral resource estimate and a preliminary economic assessment, both of which the company aims to initiate in the second half of 2027.
The NAK project is located in the Babine copper-gold porphyry district of central British Columbia. While the area saw sporadic exploration starting in the 1960s, American Eagle’s deeper drilling since 2022 has identified mineralization extending beyond 800 metres from the surface, far exceeding the reach of historical programs.
The company expects its current cash reserves to fully fund the expanded program, which will be the largest ever conducted in the region. Detailed technical previews of the specific drill targets are expected in the coming weeks.
American Eagle Gold last traded at $1.07 on the TSX Venture.
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