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Trident Resources is Building Canada’s Next Major Gold

CEO.CA Oct 1, 2026 9:18

Summary

Saskatchewan's policy turnaround — now ranked third globally for exploration — left the La Ronge gold belt underexplored, and Trident has consolidated 100,000 hectares there.

Contact Lake pairs a 1.7-million-ounce deposit package with a past-producing Cameco high-grade underground mine that stopped at just 340 metres depth.

First new drilling in over 30 years returned 8 grams per tonne over 12 metres some 220 metres below the historic workings.

At roughly 41 million shares and about $160 million market cap, the CEO argues $55-per-ounce pricing leaves a wide gap to $100-plus peers.

No mineral resource estimate exists yet at Contact Lake; management targets defining one as drilling continues into 2027.

Key points on SSR Mining

  • The CEO notes the only operating gold mine in Saskatchewan is the C.B. Santoy operation owned by SSR.
  • Per the CEO, SSR mined at Santoy down to 1.3 kilometers at depth and currently mines around 750 meters — context he cites for the depth potential Trident is testing at Contact Lake.

Key points on Centerra Gold Inc

  • The CEO says Cameco spun its gold assets out into Centerra when it refocused on uranium, after which the Contact Lake mine was decommissioned and reclaimed back to the Saskatchewan provincial government.

Jon Wiesblatt's takeaways

  • Top takeaway Argues the key opportunity at Contact Lake is at depth: the first released holes of Trident's program tested high grade well below the historic workings, including an interval of 8 grams per ton over 12 meters some 220 meters below the known workings, with most of the 20,000-meter program's results still pending as of the interview.
  • Contends the La Ronge gold belt is underexplored for political rather than geological reasons, and that Saskatchewan is now the number three global jurisdiction in the Fraser Institute survey for mineral exploration and extraction.
  • Argues the stock is cheap at around $55 per resource ounce as of the interview, versus North American gold junior peers above $100 per ounce and comparable high-grade underground peers in strong jurisdictions at $150-170 per ounce.
  • Highlights a district-scale position of 100,000 hectares — by his account the largest gold landholding in the region — with 1.7 million ounces at slightly over one gram per ton across the Preview Southwest, Preview North and North Lake deposits within about 10 kilometers of Contact Lake, near Highway 102 infrastructure.
  • Points to fast execution and a tight structure: roughly 36,000 meters drilled since the inaugural program began last fall (versus about 25,000 meters Cameco drilled in the 1990s), 41 million shares outstanding with 20% held by insiders, and a first Contact Lake mineral resource estimate targeted as the company works into 2027.