Dakota Gold Corp. announced the completion of 26 drill holes as part of its 2025 drilling campaign at the Richmond Hill Oxide Heap Leach Gold Project, confirming high‑grade gold mineralization in the northern portion of the site and supporting the company’s plan to prioritize initial mining there.
The drill results include several high‑grade intercepts: RH25C‑278 intersected 1.75 g/t Au over 19.9 m, RH25C‑295 intersected 2.15 g/t Au over 30.0 m, and other holes recorded similar grades, reinforcing the scale and quality of the near‑surface deposit.
These high‑grade intercepts strengthen Dakota Gold’s low‑cost, high‑margin heap‑leach business model and accelerate the project’s path to a feasibility study, slated for completion in early 2027, and commercial production, targeted for 2029.
Financially, the company reported a net loss of $10.5 million ($0.09 per share) for the third quarter of 2025 and a nine‑month net loss of $20.7 million. Dakota Gold’s cash and cash equivalents stood at $33 million, with working capital of $31 million, and it raised $42.3 million in equity during 2025, providing a solid liquidity base to fund ongoing drilling and feasibility work.
President and COO Jack Henris said the results “continue to validate the scale and quality of Richmond Hill, which hosts one of the largest undeveloped heap‑leach gold resources in the United States. The continuity and pervasive nature of the near‑surface deposit support a project that is low‑cost, long‑life, and delivers high‑margins.” He added that metallurgical drilling for the 2025 campaign is complete and that heap‑leach column testing is underway to further de‑risk the project’s economics.
The drilling results, combined with Dakota Gold’s strong financial position, reinforce the company’s strategy to bring Richmond Hill to production by 2029 and position it as a leading low‑cost gold producer in the United States.
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