Red Mountain
Gold • Stewart BC
A high-grade, bulk-mineable underground gold deposit with a large proportion of measured resources.
Project Overview
Red Mountain is a high-grade underground gold deposit located in British Columbia’s Golden Triangle, approximately 15 kilometres northeast of Stewart, within Nisg̱a’a Nation Treaty Lands. The project is fully permitted at both the provincial and federal levels and hosts a substantial high-confidence mineral resource.
Geologically, Red Mountain is characterized by broad, laterally continuous sulphide stockwork zones hosted within Jurassic-age intrusive rocks. Mineralization occurs over meaningful widths, supporting bulk underground mining methods and distinguishing the deposit from narrower, vein-style systems common elsewhere in the district. The majority of the resource is classified in the Measured and Indicated categories, providing a strong foundation for mine planning and execution.
Within Cambria’s development strategy, Red Mountain is the primary driver of the restart plan. Its high grade, favourable geometry, and geological continuity make it the most reliable source of early mill feed. Development is focused on unlocking access, advancing underground mining, and delivering predictable, high-quality ore to the Premier processing facility.
Red Mountain combines high-grade ounces, low geological risk, and existing underground development, forming the cornerstone of Cambria’s disciplined, execution-led path to production.
Project Highlights
Red Mountain is a high-grade, bulk-mineable underground gold deposit with a substantial Measured resource, existing underground development, and prior federal and provincial environmental approvals.
With favourable geometry supporting efficient longhole mining and resources open for expansion, it forms the cornerstone of Cambria’s development strategy and the primary focus of near-term advancement.
High-Confidence, High-Grade Resource
Hosts approximately 543,800 ounces of Measured gold grading 8.81 g/t Au, with the Marc Zone averaging approximately 10.5 g/t Au, providing a strong foundation for near-term mine planning.
Favourable Geometry for Bulk Underground Mining
Broad, laterally continuous mineralized zones with an average thickness of ~25 metres, locally exceeding 40 metres, supporting low-risk, bulk underground mining methods.
Advanced Underground Access
Approximately 2,000 metres of production-sized underground development completed, with mineralization accessed within ~200 metres of surface.
Efficient Development Profile
Only approximately 1,600 metres of additional development required to support the first year of stoping, enabling a capital-efficient path to production.
Fully Permitted
Provincial and Federal Environmental Assessment Certificates in place, significantly reducing permitting risk and development uncertainty.
Geological Upside Through Improved Interpretation
Revised geological model, including the identification of high-amplitude folding, enhances understanding of mineral continuity and opens additional exploration potential.
Resources Open for Expansion
Mineralization remains open in multiple directions, with opportunities to expand resources through future drilling once access is established.
Strategic Role in Cambria’s Development Plan
Positioned as the primary source of early mill feed, providing the grade, confidence, and continuity required to support a disciplined restart.
Mineral Resource Estimate
| Classification | Tonnes |
Average Grades Au (g/t) |
Average Grades Ag (g/t) |
Contained Ounces Au |
Contained Ounces Ag |
|---|---|---|---|---|---|
| Measured | 1,920,000 | 8.81 | 28.30 | 544,000 | 1,747,000 |
| Indicated | 1,271,000 | 5.85 | 10.00 | 239,000 | 409,000 |
| Measured + Indicated | 3,191,000 | 7.63 | 24.52 | 783,000 | 2,516,000 |
| Inferred | 405,000 | 5.32 | 7.30 | 69,000 | 96,000 |
- The Red Mountain mineral resource estimate is reported at a 3.0 g/t Au cut-off grade and is summarized below.
- Resource estimates are derived from the NI 43-101 Technical Report with an effective date of August 30, 2019, authored by Gilles Arsenault, P.Geo., a Qualified Person as defined by NI 43-101. Numbers may not sum due to rounding.
- Measured, Indicated, and Inferred resources are presented on a project basis.
- Full details, assumptions, and sensitivities are available in the Company’s technical disclosures.
Development Timeline
A Clear, Three-Year Execution Path
Cambria’s Red Mountain development plan follows a defined critical path designed to unlock the highest-confidence orebody first, align infrastructure, and position the operation for sustainable production.
2026–2027: Red Mountain Access Road (Critical Path)
Unlocks physical access to Cambria’s highest-confidence orebody.
- Initiate construction of the Red Mountain access roadConstruction expected to begin in Q1 2026, with completion targeted for Q3 2027
- Enables ore haulage and underground mining operations
- Physically unlocks Red Mountain, the primary source of early mill feed
2026: Updated Feasibility Study
Validates the revised, Red Mountain–led development strategy.
- Updated feasibility study targeted for completion
in 2026. Reflects:- Red Mountain as the primary feed source
- Revised development sequencing
- Updated operating and capital assumptions
- Accompanied by updated resource and reserve estimates
2026–2027: Mill Care & Maintenance / Optimization
Preserves infrastructure while preparing for restart in 2027/2028.
- Premier mine and mill placed on care and maintenance during Red Mountain development
- Maintain regulatory compliance while reducing operating costs
- Advance engineering and optimization planning aligned with Red Mountain ore characteristics
2026–2027: Long-Lead Equipment Procurement
- Ensures the processing facility is properly configured before restart, reducing execution risk.
- Order long-lead items for mill upgrades, including a fine-grinding (Vertimill) circuit
- Upgrades designed to improve gold recoveries from Red Mountain ore and increase operational flexibility and throughput
2027–2028: Restart Readiness & Commissioning
Transitions the project from development to production readiness.
- Complete access road construction
- Finalize mill upgrades and commissioning plans
- Position operations for restart aligned with Red Mountain ore supply
Geology and Exploration
The Red Mountain Project covers approximately 17,125 hectares of prospective ground with geological characteristics favorable for the discovery and expansion of high-grade gold mineralization. The property hosts multiple exploration targets, including Lost Valley, where mineralization has been exposed through recent glacial retreat. Mineral resources at Red Mountain remain open for expansion in multiple directions.
Gold mineralization is hosted within Jurassic-age intrusive rocks and occurs in broad, laterally continuous sulphide stockwork zones. These zones support bulk underground mining methods and distinguish Red Mountain from the narrower, vein-style deposits that are more common elsewhere in the district.
Property Infrastructure
The Red Mountain Project benefits from a strong base of existing infrastructure that supports efficient development and future operations.
Key infrastructure includes:
- A winterized, year-round camp accommodating approximately 45 personnel
- Approximately 2,000 metres of production-sized underground development (5 m x 5 m)
- Surface and underground mining equipment and maintenance facilities
- On-site diesel power generation