High-Grade Gold Hits in New Footwall Zones as Drilling Extends a 600-Meter Trend

1. Dryden Gold is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.
2. As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Dryden Gold.
3. James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
4.  This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. 

For additional disclosures, please click here.

1. Disclosure for the quote from the John Newell article published on December 22, 2025

1. For the quoted article (published on December 22, 2025), the Company has paid Street Smart, an affiliate of Streetwise Reports, between US$2,000.
2. Author Certification and Compensation: [John Newell of John Newell and Associates] was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Newell holds a Chartered Investment Management (CIM) designation (2015) and a  U.S. Portfolio Manager designation (2015). The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.

John Newell Disclaimer

As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it's advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.

2. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Dryden Gold Corp. (DRY:TSXV; DRYGF:OTCQB; X7W:FSE) announced new drill results from testing at the Pearl zone within the Gold Rock Target Area. The company reported that the results showed continued expansion of mineralization at Gold Rock, including the discovery of two new footwall zones parallel to the main Elora shear structure at Pearl. According to the company, this marked the first significant mineralization identified in the footwall of the Elora shear at Pearl and established an additional high grade exploration target at Gold Rock. Further interpretation of existing data combined with the new drilling also identified a second high grade pod on the main Elora shear zone.

The company completed five new drill holes totaling approximately 1,600 meters, testing along a 600-meter strike length extending from Jubilee to Pearl. Dryden Gold stated that the highlighted intercepts were encountered at near-surface depths ranging from approximately 15 to 70 meters vertically. Reported results included hole DGR-032, which returned 6.4 g/t gold over 3.30 meters, including 15.10 g/t gold over 1.00 meter, from a new high-grade footwall zone at Pearl. Hole DGR-031 returned 77.90 g/t gold over 0.50 meters from a second footwall zone, while additional mineralization was reported from the Elora shear structure at Pearl.

Trey Wasser, chief executive officer of Dryden Gold, stated in a company news release, "We continue to expand the Gold Rock Target Area with these first holes from our 2026 drill program. These drill results at Pearl continue the Gold Rock theme, multiple stacked structures, with near-surface high-grade gold, combined with wide zones of lower-grade mineralization." He added that a newly identified high-grade pod on the Elora shear structure would continue to be tested as part of the company's fully funded 32,000-meter drill program focused primarily on Gold Rock during the spring.

Maura Kolb, president of Dryden Gold, commented in a company news release that the results represented the first time high-grade mineralization had been identified in the footwall at Pearl, noting similarities to high-grade mineralization previously encountered in hanging wall structures at Jubilee. She also stated that wide zones of lower-grade mineralization continued to be observed at Pearl and that additional targets along strike on the footwall of the Elora shear structure would be tested.

Gold Mining Supply Constraints and Demand Drivers

According to a February 3 report published by Ahead of the Herd, gold mining companies had been extracting ore at grades higher than reserve averages for much of the past decade, a practice known as high-grading. The report stated that mining higher-grade, more accessible portions of deposits had been used to bolster margins during periods of lower metal prices, but had contributed to rising operational complexity as ore bodies became more geologically challenging, mines moved deeper, and average grades declined. The report cited World Gold Council data showing that mine production reached 3,661.2 tonnes, while total gold demand reached 4,974 tonnes. It stated that "even though major gold miners are high-grading their reserves, mining all the best gold and leaving the rest, they still didn't manage to satisfy global demand for the precious metal." The analysis also referenced Wood Mackenzie, quoting head of gold research Rory Townsend, who said, "If all our probable projects were to come online before 2025, this would almost meet the requirement to maintain 2019 production levels," while noting that delays and changes in project scope were expected to limit progress.

Bloomberg reported on February 4, in an article by Ruth Carson, Bernadette Toh, and Yihui Xie, that investor interest in gold remained active following a sharp market correction. The report cited comments from Fidelity International money manager George Efstathopoulos, who said, "A lot of the froth has been taken out, and the structural sort of medium-term themes are very much in place." He added that "inflation continues to be sticky," and said that dollar weakness, central bank buying, and diversification away from U.S. assets remained supportive factors. Bloomberg reported that bullion had reached an all-time high of US$5,595.47 an ounce before retreating, followed by renewed buying interest from dip buyers. Efstathopoulos also said that "massive buying from central banks" had remained a favorable trend and that "gold makes sense because it just creates a more robust portfolio."

According to a February 5 report from Leede Financial citing the World Gold Council's Full-Year Gold Demand Trends, total gold demand reached a new all-time high of 5,002 tonnes. The report stated that "continued geopolitical and economic uncertainty propelled hefty investment in gold," with annual demand valued at approximately US$555 billion. Leede reported that global investment demand reached 2,175 tonnes and was "the main driver behind gold's remarkable and record-breaking year." Investors added 801 tonnes to gold exchange-traded funds, while global bar and coin demand reached 1,374 tonnes, valued at approximately US$154 billion. The report also stated that central banks added 863 tonnes of gold during the year, while mine production rose to 3,672 tonnes and recycling increased modestly. Although jewelry demand declined 18% by volume, Leede noted that "the total value of gold jewelry demand increased 18% year-on-year to US$172 billion."

Third-Party Analysts Point to Drill Results and District-Scale Characteristics

On December 1, Couloir Capital reported that the company's initial three-hole drill program at the Mud Lake target produced encouraging early results. The firm highlighted "a vein intercept of 43.1 g/t gold over 0.5 meters" and noted that surface sampling returned grades "up to 93 g/t gold" from a high-grade shear zone.

Writing on December 11, Brien Lundin of Gold Newsletter stated that the 2025 exploration program had met its stated objectives. "Taken together Mud Lake, Elora, Big Master and the early wins at Sherridon and Hyndman Dryden Gold Corp.'s 2025 program has delivered on its stated exploration goals," he wrote. Lundin added that the company was "now positioned to drill aggressively in 2026 with a fully funded program aimed at expanding both scale and continuity across the Gold Rock camp."

¹On December 22, John Newell of John Newell & Associates described the company as a district-scale opportunity "uncovering stacked high-grade gold zones across a commanding land position in northwestern Ontario." Referencing intercepts of 301.67 g/t gold over 3.90 meters and historic results of 3,497 g/t gold over 8.5 meters, Newell rated the stock a "Speculative Buy" at CA$0.34.

In a January 8 letter, Chen Lin of What is Chen Buying? What is Chen Selling? noted that "DRY.v announced continued CGAU support and is doing a financing," adding that it "could be a good entry point if you are bullish on the sector and want to get involved." He also confirmed the company's participation in an upcoming panel event.

According to a February 4 commentary from The Gold Advisor, senior analyst Jeff Valks said recent drilling at the Pearl zone marked the first confirmation of significant mineralization in the footwall of the Elora shear, adding a new structural layer to the Gold Rock Target Area. Valks noted that five drill holes totaling approximately 1,600 meters were completed along a 600-meter strike from Jubilee to Pearl, with intercepts encountered at shallow depths between 15 and 70 meters vertically. He highlighted results that included 6.4 g/t gold over 3.30 meters from a newly identified footwall zone, 77.90 g/t gold over 0.50 meters from a second footwall zone, and 1.61 g/t gold over 16.40 meters within the main Elora shear. Valks wrote that the results reinforced a recurring pattern of “multiple stacked structures, combining narrow high-grade zones with broader envelopes of lower-grade mineralization,” and said the discovery of footwall mineralization reflected a continuation of the structural style previously observed at Jubilee, but identified across the Elora shear rather than along its hanging wall.

2026 Exploration and Program Milestones

Dryden Gold stated that the Gold Rock Target Area would be a major focus of its 2026 exploration campaign in its investor presentation. In addition to the newly reported results at Pearl, the company indicated that drilling would test the Big Master Gold System with the stated goal of expanding high-grade mineralization at the Treasure and Barrelman targets. The company noted that current drilling at Big Master was designed to expand and test the near-surface footprint of high-grade gold structures and to test interpreted geologic controls derived from its 2025 structural study.

The company reported that it had a fully funded exploration budget for 2026 totaling approximately US$11.0 million, supporting a planned 32,000 meters of drilling. According to the provided material, the budget allocated funding to drilling at Gold Rock, Hyndman, and Sherridon, as well as to regional targets and early-stage regional programs, including follow-up on soil and till sampling and additional mapping, channel sampling, and compilation work.

Dryden Gold also outlined regional exploration activities planned for 2026, stating that all permits had been approved. The company identified Sherridon and Hyndman as regional target areas, with work programs including soil and till data integration, geophysical inversion studies, and follow-up field work and drilling. The company noted that these programs were intended to support regional targeting and further evaluation of identified gold mineralization.

In addition to exploration activities, Dryden Gold provided a marketing and conference schedule for early 2026. The company stated that its president would participate in the Capital Events Whistler conference from February 6 to 8, 2026, followed by a presentation by its vice president of exploration at the Vancouver Mining Exploration Group on February 18, 2026. Management was also scheduled to participate in the Metals Investor Forum in Toronto on February 27 and 28, 2026, as well as the Prospectors and Developers Association of Canada convention in Toronto from March 1 to 4, 2026, where the company planned to attend scheduled presentations and maintain booth presence.

Ownership and Share Structure²

According to the company, contingent on post private placement, management and insiders own 5.45%, while strategic entities hold 50.25% of the shares. 

Centerra Gold Inc. (CG:TSX; CADGF:OTCPK) holds 9.90%, Alamos Gold Inc. (AGI:TSX; AGI:NYSE) owns 10.57%, Delbrook Capital Advisors has 10.82%, and Euro Pacific Asset Management LLC owns 5.68%. There are currently 218 million shares outstanding. 

The company's market capitalization is CA$85.25 million, and it trades in a 52-week range of CA$0.48 to CA$0.105.