FIN Resources Finds Sulphide Iron Formation in Six Holes as Gold Assays Loom
Key Takeaways
- FIN logged sulphide-bearing iron formation in six of nine holes, the same host rock tied to known gold at Cabin Lake, but no assays have been reported.
- The 1,149m program tested eight targets beyond the Arrow, Andrew, Beaver and Camp areas, including an IP anomaly with no recorded historical drilling.
- Pyrite and pyrrhotite explain the IP and magnetic responses, supporting FIN's view that the sedimentary package holds several sulphidic horizons.
- Assays are the real test, and FIN has given no date for them.
- Winter ground geophysics is planned, with potential winter drilling of remaining targets across roughly 15km of prospective Bugow Iron Formation strike.
FIN Resources completes Cabin Lake Gold Project step-out drilling across eight targets
FIN Resources has completed a 1,149m, nine-hole diamond drilling program at its 100%-owned Cabin Lake Gold Project in Canada’s Northwest Territories. The program tested eight priority targets, made up of six induced polarisation (IP) targets and two magnetic and structural targets, beyond the established Arrow, Andrew, Beaver and Camp prospect areas.
Initial logging identified sulphide-bearing iron formation in six holes. Assays are pending, so these are early geological observations rather than results, but they widen the area where FIN can look for gold.
Chairman Bruce McFadzean framed the outcome this way:
Bruce McFadzean, FIN Chairman
“Initial logging has identified sulphide-bearing iron formation in newly drilled and sparsely drilled areas, materially broadening the prospective footprint of the Cabin Lake gold system…”
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What the drilling found
The program targeted positions that had received limited, ineffective or no previous drilling. Here is where the holes went.
Four target areas tested
- Beaver–Andrew IP anomaly: CL-26-009 and CL-26-015 tested a strong IP anomaly between the Beaver and Andrew zones, in an area with no recorded historical drilling.
- Arrow-to-Camp trend: CL-26-010, CL-26-011 and CL-26-012 tested IP, magnetic and structural targets, including footwall and hangingwall positions and a major north-south fault zone.
- Andrew trend: CL-26-013 and CL-26-014 tested IP anomalies within gaps in historical drilling.
- Camp North: CL-26-016 and CL-26-017 tested magnetic and structural targets interpreted to represent the eastern and western limbs of a prospective fold setting.
Sulphide-bearing iron formation logged
Sulphide-bearing iron formation was logged in CL-26-010, CL-26-011, CL-26-013, CL-26-014, CL-26-015 and CL-26-016. The logged material is similar in character to the sulphide-bearing Bugow Iron Formation associated with known gold mineralisation elsewhere at Cabin Lake.
| Target area | Holes | Target type | Sulphide-bearing iron formation logged? |
|---|---|---|---|
| Beaver–Andrew | CL-26-009, CL-26-015 | IP anomaly | CL-26-015 only |
| Arrow-to-Camp trend | CL-26-010, CL-26-011, CL-26-012 | IP, magnetic and structural | CL-26-010 and CL-26-011 |
| Andrew trend | CL-26-013, CL-26-014 | IP anomalies | Both holes |
| Camp North | CL-26-016, CL-26-017 | Magnetic and structural | CL-26-016 only |
The sulphides are predominantly pyrite and pyrrhotite, consistent with the sources expected to contribute to elevated chargeability responses. Pyrrhotite, with lesser magnetite, was identified as the two minerals responsible for positive magnetic anomalies.
Why does that matter? Known gold at Arrow, Beaver, Andrew and Camp is closely associated with sulphide-bearing iron formation, so each new iron-formation position is another place to look. The observations also support FIN’s evolving interpretation that the sedimentary package may comprise several sulphidic horizons or lenses, rather than sulphides being restricted to a single continuous unit.
Cautionary note
Visual observations of sulphides are preliminary, are not a substitute for laboratory assays, and no quantitative estimate of gold grade can be made from visual logging alone.
Understanding IP and sulphide targeting in gold exploration
An IP survey measures chargeability, a response often caused by sulphide minerals in the rock. Magnetic surveys detect minerals such as pyrrhotite and magnetite.
This matters at Cabin Lake because gold is hosted in sulphide-bearing banded iron formation. Geophysics therefore helps guide where to drill.
Logging, however, only shows what the rock looks like. Only laboratory assays can confirm whether gold is present and at what grade, which is why the assay stage is the real test for these holes.
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Next steps and what investors should watch
FIN has outlined several steps following the drilling:
- Comprehensive sampling across the whole length of drill core, including intervals outside the interpreted Bugow Iron Formation, with assays to follow (no date was given).
- Integration of assays with geological logging, structural observations and the 2026 IP and magnetic datasets.
- Ground-based geophysical surveys planned for winter.
- Potential winter drilling of remaining targets, when snow-based vehicle access can support more efficient mobilisation.
Practical access constraints during the summer campaign limited the number of targets tested. That leaves a pipeline of remaining targets, although winter drilling is described as potential rather than confirmed.
Project context
- Approximately 15km of prospective Bugow Iron Formation strike.
- About 105km northwest of Yellowknife.
- Located in the Slave Craton, which also hosts the historical Lupin Gold Mine.
- Established engagement with the Tłı̨chǫ Government, including access agreements and support for field activities.
For context only, FIN’s earlier results include “26.2 m at 12 g/t Au” (announcement of 28 April 2026). Nothing in this program’s announcement reports assay results.
The focus now shifts to assays. Those results will determine whether the new sulphide-bearing iron formation carries gold, and they will guide winter geophysics and follow-up drilling at the Cabin Lake Gold Project.
Ready to Learn More About the Cabin Lake Gold Project?
FIN Resources has completed step-out drilling across eight targets at Cabin Lake, logging sulphide-bearing iron formation in six holes. With assays pending and winter geophysics planned, the project is entering a pivotal phase.
Explore the FIN Resources company profile on Discovery Alert for the latest announcements and project updates. Stay informed as assay results approach.