Mike Fagan,
Editor
Aug. 7, 2025
Trident Resources Corp. (TSX-V: ROCK)(OTCQB: TRDTF) — currently trading around C$0.65 per share in a near-record gold market — is launching its inaugural, fully funded 5,000-meter drill program at the high-grade Contact Lake Gold Project in Saskatchewan’s La Ronge Gold Belt.
The Contact Lake mine previously produced over 188,000 ounces of gold from roughly one million tonnes of ore at an average head grade of 6.16 g/t Au with 95% recovery.
The 5,000-meter, 16-hole program marks the first modern drilling at Contact Lake in nearly 30 years and aims to confirm and expand high-grade gold zones left unmined by Cameco.
It’s important to understand that the Contact Lake mine was shuttered by Cameco in the late 1990s when gold was trading below US$300 per ounce, leaving several high-grade zones untouched.
With gold now trading more than 10X higher — approaching all-time highs above US$3,400 an ounce — the program will focus on unmined areas with strong grade and scale potential, including zones defined by Cameco’s historical drilling, which returned highlights of:
- 20.5 meters of 12.8 g/t Au
- 18.3 meters of 10.4 g/t Au
- 0.6 meters of 2,616 g/t Au
- 0.5 meters of 94 g/t Au
Trident Resources CEO Jon Wiesblatt — whom you’re about to hear from directly in our exclusive interview coming right up — commented on the start of the company’s maiden drill program at Contact Lake via press release:
“This inaugural drill program is a major milestone for Trident. We’re picking up where Cameco left off - except now, gold trades at over 10x the price it did when they shut the mine. We’re fully funded, highly motivated, and excited to unlock value at Contact Lake.”
A 1999 Cameco report outlined seven unmined resource blocks totaling over 47,000 ounces now being drill-tested for expansion and future resource definition. The program will also test additional high-grade zones near the historical mine workings with potential left unexplored by Cameco.
While the 100%-owned Contact Lake project is the immediate focus, Trident is also advancing a broader portfolio of gold and copper assets across Saskatchewan, including the 100%-owned Greywacke and Knife Lake projects, both of which host historical mineral resources and near-term exploration potential.
The commencement of drilling at Contact Lake follows Trident’s recent acquisition of a 6,902-hectare land package adjacent to its Greywacke Gold Project, further consolidating its position along a major gold trend in the La Ronge Belt.
With a current market cap of just ~C$19 million — and over C$11 million in cash and marketable securities — Trident is effectively being valued at just C$8 million enterprise-wide. For that, investors are gaining exposure to a portfolio containing over 1.5 million historical gold-equivalent ounces, or roughly C$5 per ounce in the ground.
With a tight share structure, strong treasury, and high-grade gold targets being drill-tested for the first time in decades, Trident enters the second half of 2025 well positioned for a potential re-rating on meaningful discovery.
As promised, our own Gerardo Del Real of Junior Resource Monthly caught up with Trident Resources CEO Jon Wiesblatt to dig into the launch of the Contact Lake drill program and what’s next for this under-the-radar, multi-metal discovery story. Please enjoy!
For additional information on Vancouver-based Trident Resources, please contact the company’s IR department at info@tridentresourcescorp.com.
Visit the Trident Resources corporate website and sign up to receive updates directly from the company here. View the most recent Corporate Presentation here.
Yours in profits,
Mike Fagan
Editor, Resource Stock Digest
Click here to see more from Trident Resources
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