G50 Corp Ltd (ASX:G50, OTCQB:GFYTF) has delivered a strong first result from its 2026 core drilling program at the White Caps Gold Project in Nevada, intersecting 13.5 metres at 7.67 g/t gold and 2.38 g/t silver from 305.5 metres.
The result from hole WCD26-01 included a higher-grade interval of 3.93 metres at 23.95 g/t gold and 7.29 g/t silver from the same depth, marking the first reported assay from a 5-hole, 2,220.10-metre program.
The program is testing Carlin-style gold mineralisation hosted in decalcified and silicified limestone in an area of historical underground workings extending to about 400 metres depth.
First core hole returns strong intercept
G50’s 2026 drilling follows its inaugural 2025 reverse circulation program, which targeted shallow gold mineralisation in altered limestone near historic workings.
That earlier campaign intersected gold mineralisation in 8 of 12 holes at depths of less than 100 metres and returned high antimony values, including a peak of 3.5% antimony (35,000 ppm) between 77.7 metres and 79.2 metres.
The latest core hole was drilled down-dip of known limestone-hosted mineralisation and toward blind intrusions interpreted from G50’s aeromagnetic data.
WCD26-01 was drilled about halfway between the historic Manhattan Consolidated shaft and the centre of the interpreted blind intrusion. It intersected 3 calcareous units, with the high-grade gold interval hosted in the middle unit.
The company said there was insufficient information to estimate the true width of the reported intercepts.
Targeting deeper mineral system
G50 is exploring the possibility that gold mineralisation at White Caps is linked to blind intrusions at depth.
The company’s interpretation is supported by aeromagnetic data, the presence of skarn and calcsilicate rocks containing disseminated molybdenum and chalcopyrite on mine dumps and in drill core, and evidence of increasing grades with depth in historical workings.
The 2026 program is also testing skarn and intrusion-related targets down-dip and southwest of the Carlin-style targets.
White Caps covers about 1,012 hectares across 28 patented and 74 unpatented mining claims in Nevada. It sits immediately adjacent and along strike, within 2 kilometres, of the past-producing Manhattan Gold Mine and about 20 kilometres south of the operating Round Mountain Gold Mine.
Managing director encouraged by result
G50 managing director Mark Wallace said the first core result was a significant outcome for the project.
“Intercepting significant gold mineralization in our first core hole at White Caps is an outstanding outcome for both the project and the team,” Wallace said.
“Today’s result reflects the value of our disciplined, first-principles approach to revitalizing this historic mining area which we believe offers significant untapped potential.
“With Golconda in Arizona and White Caps in Nevada, shareholders now have exposure to 2 highly prospective projects in proven US mining districts.
“We look forward to receiving results from the remaining 4 holes over the next 2 months.”
Dual US project exposure
G50 is progressing precious and critical minerals projects in the United States, including White Caps in Nevada and the Golconda Project in Arizona.
Golconda is a historical zinc, lead, gold, and silver mine in northwestern Arizona, near the Mineral Park copper, molybdenum, and silver mine. Exploration has identified high-grade gold and silver mineralisation as well as a significant gallium discovery.
At White Caps, exploration has identified gold and antimony mineralisation in a historical gold mine previously drilled by Freeport McMoRan between 1982 and 1984.
White Caps Project area, core hole location and simplified geology
What’s ahead
G50 expects assays from the remaining 4 White Caps core holes, WCD26-02 to WCD26-05, over the next 2 months.
The company also plans detailed surface mapping and sampling to the east and west of the current drill area in the coming weeks.
A drill rig has been secured and planning has begun for follow-up core drilling this year, ahead of the northern hemisphere winter, with final targets to be selected once all assays from the current program have been received.
G50 will also host an investor webinar on Thursday, June 25, at 11:00am AEDT, where managing director Mark Wallace will update shareholders and investors on recent developments at White Caps and Golconda.
About G50 Corp
G50 Corp Ltd is an Australia-based precious and critical minerals exploration company focused on high-potential projects in the southwest United States.
The company’s portfolio includes the Golconda Project in Arizona and the White Caps Project in Nevada, both located in established US mining jurisdictions with histories of precious and base metals production.
At Golconda, G50 is exploring a historical zinc-lead district where drilling has confirmed gold, silver, zinc and gallium mineralisation across multiple vein structures. The project is near the Mineral Park copper, molybdenum and silver mine and has been positioned by the company as a precious and critical metals opportunity.
In Nevada, the White Caps Project is a historical gold mine with identified gold and antimony mineralisation. The project was previously drilled by Freeport McMoRan and sits near Scorpio Gold Corp’s Manhattan Gold Project in a well-endowed mineral district.
G50, formerly known as Gold 50 Limited, is listed on the ASX under the ticker G50 and trades on the OTCQX under the ticker GFTYF.