The deposit now holds 41.8 million indicated tonnes grading 1.52 g/t gold for 2 million oz. contained metal.

The PFS will mark the culmination of the extensive de-risking and optimization program that has been undertaken since the issuance of the 2020 PEA.

Highlights include a longer mine life of 10 years and a greatly increased after-tax net present value of C$1.2 billion.

The initial resource contains 741,000 tonnes of LCE grading 175 ml/L in the indicated category and 701,000 tonnes LCE grading 185 ml/L in inferred.

Hole K-22-255 returned 399.8 metres of 0.62% copper, 0.74 g/t gold and 2 g/t silver from 152.2 metres downhole.

Ridgway and the exploration teams under his guidance have discovered gold deposits in Honduras, Guatemala and Nicaragua and a silver-gold deposit in Mexico.

Nelligan now has an indicated resource of 72.2 million tonnes grading 0.85 g/t for 2 million oz. of contained gold.

The explorer, which has so far focused on gold in Ireland, said drilling results show evidence of lithium bearing pegmatites.