Trident Resources Corp. (ROCK:TSXV; TRDTF:OTCQB; 6BP0:FSE), a company formed just a year and a half ago by merging three of renowned Canadian geologist Ron Netolitzky's most promising Saskatchewan projects, has seen its stock price soar over the past 12 months. Shares have skyrocketed 500% from CA$0.80 to a recent peak of CA$4.70, reminiscent of Great Bear Resources' meteoric rise from CA$0.50 to CA$29 before being acquired by Kinross Gold Corp. (K:TSX; KGC:NYSE) for US$1.4 billion. However, Trident has a tighter share structure, and gold prices are significantly higher now compared to 2022.
I've covered Trident several times, starting when shares traded at just CA$0.76 and later highlighting their spectacular 783.5 gram-meter intercept in April, which returned 15.11 grams gold over an impressive 51.83 meters.
The company recently wrapped up a 13,200-meter winter 2026 drill campaign and published the results. They have now embarked on a 20,000-meter summer program, with 12,000 meters already finished. Approximately 40 holes are planned, with assays anticipated to keep rolling in through Q1 2027. Trident is well-funded with around CA$20 million cash on hand, so I don't foresee any imminent private placements.
On September 17, Trident reported assays from a trio of drill holes. While the grades were excellent, the real story was buried in the details and likely overlooked by most investors. The standout hole, CL26050, intersected a high-grade zone grading 8.69 g/t gold over 11.97 meters from 613 to 625 meters depth. This 104 gram-meter result is impressive on its own, but far more significant is that it represents the first deep hole drilled below the Main Zone, extending mineralization 220 meters beneath the deepest underground workings. With gold now confirmed at 591 and 613 meters depth, it's a near certainty that it's continuous between those elevations as well.
The other two reported holes also delivered strong results. CL26049 hit two mineralized intervals, including 3.46 g/t Au over 15 meters, while CL26051 cut multiple zones highlighted by intercepts of 48 g/m and 46 g/m.
I've been bullish on Trident since last August, before shares began their explosive rally in November from CA$0.80. I firmly believe this company is poised to become the next Great Bear story, only larger and even more prospective.
Trident currently trades at about US$54 per ounce of in-ground gold, a steep discount to the US$99 average among its peers. For context, Great Bear was acquired by Kinross at around US$300 per ounce. In my opinion, Trident is also destined for a buyout, and at a far higher valuation than US$300 per ounce.
As always, I encourage you to conduct your own thorough due diligence. Reviewing Trident's superb corporate presentation is a great place to start.
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Important Disclosures:
- Bob Moriarty: I, or members of my immediate household or family, own securities of: Trident Resources. My company has a financial relationship with: Trident Resources. My company has purchased stocks mentioned in this article for my management clients: None. I determined which companies would be included in this article based on my research and understanding of the sector.
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