3rd Jul 2026 16:22
(Alliance News) - Richmond Hill Resources PLC on Friday announced its proposal for an initial field programme to evaluate its Martello project.
Shares in Richmond Hill were down 9.1% at 1.25 pence on Friday afternoon in London.
The London-based holding company, which is focused on copper exploration in Canada, said in early June that acquiring the Martello Gold Project in Ontario was the "centrepiece" of its first half-year ended March 31.
Richmond Hill said the programme will last approximately five days, and focus on validation and selective sampling of the New Church Lake, Sakoose, and Maw targets. It intends to "confirm, support, or potentially improve the gold values reported in historical exploration work," providing new assay results "from selected high-priority mineralised zones."
Richmond Hill expects to spend around two to three days focused on the New Church Lake area, aiming to validate known mineralised zones, review the geological and structural setting, and collect samples "from the best available mineralised exposures."
The remaining time in the field will be dedicated to Sakoose and Maw, aiming to evaluate their possible relationship. The company also intends to "confirm the continuity of favourable structures where exposed, and collect high-quality samples from mineralised veins, shear zones, or altered outcrops."
"Several historical geological reports have suggested that Sakoose and Maw may form part of the same mineralised system," commented Chief Executive Officer Hamish Harris. "More recently, our independent 3D magnetic interpretation identified Sakoose as the highest-priority exploration area...and has provided a structural framework within which these historical interpretations can now be evaluated.
"This programme advances the targets that are ready for immediate fieldwork, focusing on the key Sakoose and Maw exposures...together with the New Church Lake target, where historical sampling reported high-grade gold values," Harris continued. "The results will help refine our geological model and support planning for the next phase of exploration."
By Emma Curzon, Alliance News reporter
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