Gelum Completes 403-Sample Survey at Las Tinajas, Historical Drilling Shows 84m at 0.96 g/t Gold

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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.

Precious metals investors are watching an exploration company after sampling at its Chile gold-copper property.

Key Takeaways

• Gelum Resources Ltd. (GMR:CSE; GMRCF:OTCQB) completed further rock sampling at its 2,600-hectare Las Tinajas gold project in Chile, identifying new gold-copper targets under thin cover.
• A property-wide geophysical survey is now halfway done, with electrodes installed on the east side.
• The company collected 403 new samples across the east half of the property, focused on the NE and SE target zones.
• At the NE Breccia, surface sampling returned 70 m (meters) at 0.17 g/t Au (gold), while nearby historical drilling showed stronger grades at depth (84 m at 0.96 g/t Au).
• At the SE Anomaly, new sampling extended copper (Cu) and molybdenum (Mo) anomalies further south, pointing to possible porphyry copper mineralization.

New Targets Emerge Under Thin Cover

On August 11, 2026, Gelum Resources announced the completion of additional rock geochemistry sampling at its Las Tinajas gold project located in the Maricunga Gold Belt of Chile, taking 403 new rock samples. The 2,600-hectare project sits approximately 120 km (kilometers) northeast of Copiapó, in the northern Atacama Region. Also, the company reported that a property-wide VIP-MT geophysical survey is halfway completed, with electrodes having been installed on the eastern part of the property.

At the NE Breccia, five-meter sampling of the road-cut above and east of the previously reported interval showed 70 m at 0.17 g/t Au. Other cuts farther east and north returned weakly anomalous values. Historical drilling of this area returned up to 84 m at 0.96 g/t Au, indicated mineralization may be stronger at depth and signified potential for blind discoveries beneath weak surface finds.

At the SE Breccia, the previous chip sample intervals were extended to the end of the roads, and reconnaissance chip samples were taken from argillic altered outcrops to the south. The press release stated: "The dacite porphyry plug that forms this ridge has returned highly anomalous copper and molybdenum values, suggestive of a porphyry copper system. The new sampling extended the anomalous copper values a further 200 m to the south, and molybdenum values 90 m further south." The company believes these values indicated additional epithermal skarn mineralization at depth and look to the completion of the geophysical survey for further understanding of this target's potential.

Only a small portion of the property has been tested, with 64 drill holes having been tested since 1986. Henk van Alphen, CEO of Gelum, said in the release: "We knew when we acquired Las Tinajas that there was a serious zone of mineralization, given the past drill results in the middle of the property. However, with the results of the rock chip sampling coming in, and our analysis, the broad extent of drill targets at Las Tinajas is becoming ever clearer. Gelum has a land package that is abundantly endowed with gold and copper targets. Historically there has been a high correlation between soil anomalies and subsurface mineralization, and we look forward to testing this correlation with the new identified anomalies at Las Tinajas."

Gelum Resources is a Canadian company focused on exploration and development in the Maricunga Belt of northern Chile.

Gold Starting to Climb Again

Junior miners and exploration companies hit the ground running this year after gold rallied at a high of US$5,500 per ounce in January. Many companies chose to begin exploration or production amid these highs. While prices have since fallen, and even dipped below US$4,000 in June, prices are still up 31% compared to August 2025, and Gold.org wrote that: "[T]he stage is set for a possible breakout. On the upside, clear catalysts — a worsening economy or renewed geopolitical shock, a shift towards lower interest-rate expectations, or a wave of dip buying — could reignite gold's momentum and lift it back towards US$4,500/oz or above."

On August 11, 2026, Trading Economics reported that gold prices were trading around US$4,385 per ounce. The article said: "Gold slipped below US$4,400 an ounce on Tuesday, giving up earlier gains as investors took profits following a strong rally and weighed the potential impact of surging oil prices on inflation and the interest rate outlook." These potentially higher oil rates come from the ongoing war between the U.S. and Iran. The article continued: "Uncertainty remained over a potential U.S.-Iran agreement to end the war and reopen the Strait of Hormuz. Investors also awaited key U.S. inflation data this week for fresh indications on the Federal Reserve's policy outlook."

The metals sector as a whole is only showing signs of improvement. On May 7, 2026, Brian Taylor of Recycling Today said that the World Bank Group has predicted that overall global metals prices will rise by 17% in 2026, which would mark the first overall market increase since 2022.

Thomson Sets CA$4.00 Long-Term Target

¹"Gelum is outperforming the underlying CDNX index," wrote technical analyst Stewart Thomson on July 6, 2026, calling it ". . . a bullish sign that could attract momentum-oriented investment funds." With gold rates rising steadily after a sharp fall over the past few months, Thomson argued that gold exploration companies like Gelum would be likely to benefit from "such a significant move for gold." The analyst listed the following investor highlights:

• Gelum appears poised to burst out of a significant inverse H&S pattern.
• An enormous volume is present in the right shoulder zone; bullish.
• MFI (Money Flow Index) and OBV (On Balance Volume) are surging, suggesting an upside breakout from the H&S pattern is imminent.
• RSI (a momentum oscillator) is in a strong rising trend.

At the time of writing, Thomson gave the company a short-term price target of CA$1.25, a medium-term price target of CA$2.50, and a long-term price target of CA$4.00, rating Gelum a "Speculative Buy".

Drilling Targets Maiden Resource Estimate

Gelum has completed further surface sampling at Las Tinajas, while its property-wide geophysical survey is now approximately 50% complete. Upcoming catalysts include completion and interpretation of the geophysical program, followed by drilling targeting the northwest and northeast extensions of the silicic, sulphide-bearing diatreme breccias and secondary blind mineralization in reactive sedimentary rocks. The planned drilling is intended to support a maiden NI 43-101 mineral resource estimate, with Gelum targeting 2–3 million ounces of gold in the Measured and Indicated categories and/or an underlying porphyry copper system. Preliminary metallurgical characterization is also planned to establish basic recovery parameters.

Ownership & Share Information²

Gelum Resources Ltd. has a market cap of CA$29.93 million, with 33.62 million shares outstanding. The company's 52-week range is CA$0.10-CA$0.95. Institutions own 14.84% of shares, while Management & Insiders own 21.62%. The remaining 63.54% of shares are Retail.

Frequently Asked Questions

Q: What is rock chip sampling in mineral exploration?
A: Rock chip sampling involves collecting small pieces of exposed rock from outcrops, road cuts or other surface exposures and analyzing them for metals. The results can help identify areas with elevated metal concentrations and guide future exploration.

Q: What is a geochemical anomaly?
A: A geochemical anomaly is an area where samples contain unusually high or low concentrations of a particular element compared with the surrounding area. In mineral exploration, anomalies in metals such as gold, copper or molybdenum can help identify areas that warrant further investigation.

Q: What is an epithermal deposit?
A: An epithermal deposit forms relatively close to Earth's surface when hot, mineral-rich fluids move through fractures and deposit metals as pressure, temperature and chemistry change. Epithermal systems commonly contain gold and silver and can occur near larger porphyry systems.

Q: What is a breccia in geology?
A: A breccia is a rock made up of broken fragments of older rock that have been cemented together. In mineral exploration, breccias can be important because fractures and spaces between the fragments may provide pathways for mineral-bearing fluids.

Q: What does “blind mineralization” mean?
A: Blind mineralization refers to mineralization that does not reach the surface and therefore cannot be identified directly through surface sampling. Geophysical surveys, geochemical anomalies and drilling can help explorers detect these deposits beneath barren or weakly mineralized rock.