Sullivan Zone Intersections At Gabbs Project

VANCOUVER - P2 Gold Inc. reported on four reverse circulation (RC) drill holes (GBR-028 to 031) drilled at the Sullivan Zone as part of the initial 2022 Drill Program at its Gabbs Project located on the Walker-Lane Trend in Nevada.

“The Sullivan Zone continues to grow with the latest four holes extending the Sullivan Zone to the south,” commented Joe Ovsenek, President and CEO of P2. “We expect to receive the remaining results from the initial 2022 Gabbs drill program in the coming weeks. These results, along with results from recently completed metallurgical testwork, will be incorporated into the Gabbs preliminary economic assessment which we are in the process of kicking off. We are targeting completion of the Gabbs preliminary economic assessment for the fourth quarter of this year.”

Select drill results from holes GBR-028 to GBR-031 drilled at the Sullivan Zone include: Hole GBR-030 intersected 0.94 g/t gold equivalent (0.67 g/t gold and 0.27% copper) over 112.78 meters, including 19.81 meters grading 1.70 g/t gold equivalent (1.29 g/t gold and 0.40% copper); and Hole GBR-031 intersected 0.85 g/t gold equivalent (0.52 g/t gold and 0.32% copper) over 82.30 meters, including 18.29 meters grading 1.25 g/t gold equivalent (0.85 g/t gold and 0.39% copper).

Drill holes GBR-028 through 031 were designed to test for the downdip extension along the southern flank of the Sullivan Zone. All four holes intersected gold-copper mineralization extending the Sullivan Zone to the south.

The initial 2022 Drill Program commenced at the Car Body Zone and then moved to the Sullivan and Lucky Strike zones before returning to the Car Body Zone to finish the program. The Lucky Strike RC drill holes and final two RC drill holes drilled at Car Body remain outstanding and will be announced up on receipt.