Reward Minerals has identified new untested gold and copper anomalies at its Mountain Pond Project in Newfoundland, gearing up for maiden drilling in 2026 with local contractor support and strategic acquisitions underway.
- New untested gold and copper anomalies identified
- Maiden drilling planned for Jackpot Gold Prospect
- Local drilling contractor engaged for efficient operations
- Acquisition of adjoining mineral claims progressing
- Field sampling scheduled to start in June 2026
Mountain Pond Emerges as Untapped Gold and Copper Frontier
Reward Minerals Ltd (ASX:RWD) is preparing to drill its newly acquired Mountain Pond Gold Project in Newfoundland after compiling historic geological data that revealed additional untested gold and copper anomalies along the Sullivan Pond Fault corridor. The project, covering roughly 10 square kilometres of underexplored terrain, has never been subjected to drilling, offering a fresh discovery opportunity in a prolific volcanic belt.
Located about 530 kilometres northwest of St John’s and only 7 kilometres from the mining service town of Springdale, Mountain Pond sits 112 kilometres from Reward’s Copper Lance Project, consolidating the company’s footprint in this emerging Canadian district. The Sullivan Pond Fault, a regional structure traceable for over a kilometre, hosts the Jackpot Gold Prospect, where historic rock chip samples showed gold assays up to 23.77 grams per tonne and copper up to 7.48%, results that have yet to be tested by drilling.
Reward’s CEO Lorry Hughes emphasised the rapid progress since acquiring the project in late 2025 and early 2026, noting the company’s plans to confirm and expand targets through rock chip and soil sampling starting in June, followed by maiden diamond drilling later this year. “It is an exciting time for the Company as we establish ourselves in a new jurisdiction and advance a growing portfolio of high‑quality exploration assets,” Hughes said.
Drilling Preparations and Local Partnerships Strengthen Execution
To support upcoming drill programs, Reward has engaged a highly experienced local diamond drilling contractor with access to Springdale’s yard and workshop facilities for equipment storage and core processing. This logistics setup aims to accelerate prospect assessment and provide year-round drilling capability, including site preparation and access track construction.
The company’s strategic approach aligns with its recent acquisition of adjoining mineral claims held by Christopher Pilgrim and Alexander S. Duffitt, with the latter agreement expected to be finalised shortly. These acquisitions secure exclusive rights to 100% ownership of key licences along the fault corridor, with vendors retaining a 1% net smelter return royalty purchasable for CA$1 million.
Historical Data Highlights Untapped Potential Along Sullivan Pond Fault
Historic exploration dating back to the 1970s involved surface sampling and limited geophysical surveys, delineating strong gold and base metal geochemical anomalies but no drilling. The compiled soil and rock chip datasets show promising correlations with known mineralisation at Jackpot and other prospects, yet large sections of the fault remain untested, particularly zones of demagnetisation identified in magnetic surveys.
Reward plans to build on this foundation with confirmation and extension soil sampling programs designed to generate new geochemical data in underexplored areas. These programs will inform drill targeting, beginning with the Jackpot Gold Prospect, where a well-developed chlorite–carbonate–quartz shear zone up to 8 metres wide has been mapped but never drilled.
This exploration update follows Reward’s earlier announcements detailing high-grade gold and copper targets at both Mountain Pond and Copper Lance, where historic assays have included up to 24 grams per tonne gold and copper grades reaching 29%. The company’s field programs are scheduled from May through December 2026, with maiden drilling preparations well advanced and local contractor engagement confirmed high-grade gold and copper exploration.
Reward’s consolidation of ground along the Sullivan Pond Fault corridor is a strategic move to unlock extensions to the Jackpot Prospect and other targets, building on the recent acquisition of a new mineral licence adjoining the project area. This expanded footprint captures multiple historic gold and base metal anomalies, setting the stage for first-ever drilling in the combined tenure licence acquisition unlocking Jackpot.
Bottom Line?
Reward’s methodical build-out of its Newfoundland portfolio, combining historic data with local drilling expertise, positions it for a pivotal 2026 exploration season that could redefine its asset potential.
Questions in the middle?
- Will maiden drilling at Jackpot confirm the historic high-grade gold and copper anomalies?
- How will the completion of adjoining claim acquisitions impact the scale of exploration?
- Can Reward leverage local contractor partnerships to maintain year-round drilling momentum?