Reward Minerals has kicked off field activities at its Mountain Pond and Copper Lance projects in Newfoundland, advancing towards maiden drilling at the Jackpot Gold Prospect with sampling results due soon.
- Field exploration commenced at Mountain Pond and Copper Lance
- Initial rock chip and soil samples submitted for analysis
- Site visits assess drilling logistics at Jackpot Gold Prospect
- New soil sampling program underway at Copper Lance
- Maiden diamond drilling planned pending approvals
Field Exploration Underway at Newfoundland Projects
Reward Minerals Limited (ASX:RWD) has initiated on-the-ground exploration at its Mountain Pond Gold and Copper Lance Copper Projects in Newfoundland, Canada. Starting 29 May, the company’s management and geological consultants conducted verification sampling and reconnaissance to confirm mineralisation and evaluate site access ahead of planned drilling campaigns.
Initial rock chip and soil samples were collected predominantly at the Jackpot Gold Prospect and adjacent strike extensions, areas known for historic anomalous results but yet to be drilled. These samples have been dispatched to Eastern Analytical Ltd. in Springdale, with assay results expected in approximately three weeks, setting a timeline for the next phase of exploration.
Logistical Preparations Focus on Jackpot Gold Prospect
Reward’s site visits included meetings with drilling contractors, assay laboratories, and project vendors to assess drilling conditions and logistics. The Jackpot Prospect, a high-priority target within the Mountain Pond Project, is largely drill-ready pending final verification sampling, minor access track clearing, and statutory approvals. CEO Lorry Hughes highlighted the strategic advantage of proximity to Springdale, just 8km away, facilitating cost-effective operations and crew accommodation.
Alongside the Mountain Pond activities, a new soil sampling program commenced on 5 June at the Copper Lance Project near Deer Lake. This program aims to follow up on anomalous geochemical results from a November 2025 soil survey. Geological consultants Resourceful Geoscience Solutions are executing the program, expected to conclude within a week, before mobilising to Mountain Pond for a comprehensive regional soil sampling campaign through June.
Advancing Towards Maiden Drilling and Further Exploration
Reward’s immediate plans include executing confirmation and extensional sampling programs across both projects and preparing for maiden diamond drilling at priority targets, starting with Jackpot. The company anticipates straightforward statutory approvals and final drill hole design following sampling verification.
The exploration push aligns with Reward’s broader strategy to unlock value from its suite of early-stage gold and base metal projects in Newfoundland, complementing its core potash processing technology business in Western Australia. While assay results and drilling outcomes remain pending, these field activities mark a significant step towards testing the high-grade potential identified in historic sampling and recent acquisitions.
Bottom Line?
The coming weeks will be critical as assay results arrive and the company moves closer to maiden drilling, which will provide the first direct test of Newfoundland’s promising gold and copper targets.
Questions in the middle?
- Will initial assay results validate the historic anomalous mineralisation at Jackpot and Copper Lance?
- How quickly can Reward secure statutory approvals to commence diamond drilling at Jackpot?
- What impact will these exploration results have on the company’s resource estimates and valuation?