Dryden Gold Corp. (DRY:TSXV; DRYGF:OTCQB; FSE: X7W) has announced the results of its 2025 channel sampling program at the Hyndman Project, located on the eastern portion of the company's 702-square-kilometer land package in northwestern Ontario. The program returned a high-grade gold interval of 23.32 grams per tonne (g/t) gold over 2.80 meters, including subintervals of 24.79 g/t over 1.50 meters and 36.90 g/t over 0.70 meters. The results support the company's decision to advance Hyndman to drill-ready status within its fully funded 2026 exploration campaign.
The announcement follows earlier surface work at Hyndman, including grab sampling campaigns in 2023 and 2024, where gold values up to 34.80 g/t were reported. Unlike previous efforts, which relied on grab samples, the latest results come from channel sampling. This technique involves cutting continuous, chip-based samples across geological features on exposed rock surfaces, providing a more representative analysis akin to core drilling.
According to President Maura Kolb, P.Geo., Hyndman was one of four core targets in Dryden Gold's 2025 exploration campaign. She stated in the news release, "Making a new discovery there is an exciting validation of our two-pronged approach to our district-wide exploration strategy." Kolb also noted that pending soil and till assay results could help identify additional mineralized zones within the five-kilometer strike potential at Hyndman.
The Hyndman mineralization is hosted in a granodiorite intrusion and associated shear zones, where visible quartz veins containing pyrite and alteration minerals such as hematite and ankerite are evident. The area lies within the Kawashegamuk Group, a sequence of metasedimentary and mafic metavolcanic rocks interpreted to have undergone significant deformation and fluid flow conducive to gold deposition.
Chen Lin shared additional thoughts on September 15, noting, "Dryden Gold Corp.'s shares moved up nicely on good drilling results last week. The company continued to hit high grades and good intercepts, 3.5m over 55.34 g/t."
CEO Trey Wasser and Director emphasized the geological similarities between Hyndman and the nearby Goldlund Deposit, currently held by NexGold.
Wasser said, "What excites me the most is that the host rock for Hyndman has 4–5 times more potential strike length than Goldlund." He also highlighted Hyndman's logistical advantages, including proximity to the Trans-Canada Highway, existing logging road access, and Ontario grid power.
Dryden Gold initially announced the Hyndman target in January 2024 following its 2023 reconnaissance program.
In 2024, the company completed detailed geological mapping and sampling, which led to the latest high-grade results.
Gold Market Activity and Capital Flows See Historic Momentum
Gold mining companies achieved a notable milestone in capital markets during the third quarter of 2025, as reported by Rocks Daily on October 1. The publication stated that gold miners raised record-setting quarterly proceeds from share issuances, marking the highest ever capital intake for the sector. The increase in equity financing activity followed a sustained rally in bullion prices, which drew interest from a wide range of investors seeking exposure to gold-producing companies.
The surge in capital flows came alongside strong performance in gold prices throughout 2025. On September 30, Bloomberg reported that gold had gained more than 10% in the month and briefly reached another all-time high early in the week. The report linked this momentum to rising fiscal and geopolitical concerns, including the risk of a U.S. government shutdown, which contributed to gold's appeal as a safe-haven asset.
On the same day, Goldman Sachs Research released a market outlook suggesting that gold prices could climb as high as US$4,000 per troy ounce by mid-2026. Authored by analyst Lina Thomas, the report identified sustained central bank demand and anticipated monetary policy easing by the U.S. Federal Reserve as key drivers.
"Our base case assumes that the current trend in official sector accumulation continues for another three years," Thomas wrote. The report also cited survey data indicating that 95% of central banks expected global gold reserves to increase over the next year, with significant buying activity led by institutions in emerging markets.
In contrast to the bullish sentiment, technical analyst Stewart Thomson presented a more measured perspective in his Galactic Updates newsletter, also dated September 30. Thomson noted that gold had recently hit a technical target of US$3,800 and suggested the market had entered a more volatile phase. He recommended that cautious investors limit profit-taking to about 30% of their holdings and commented that "any price over US$3,000 is a great one for most miners." He also highlighted the potential for short-term pullbacks due to evolving global developments, including geopolitical tensions and fiscal uncertainty in the U.S.
Analysts Weigh In on Dryden Gold's Exploration and Financing Progress
Chen Lin of What is Chen Buying? What is Chen Selling? shared his impressions following a June 2025 site visit to Dryden Gold Corp., writing, "My visit to Dryden Gold Corp. was interesting; I understood the scale of the project for the first time. The company has many high-grade targets that are drilling or to be drilled; we should have a lot of news for the next few months." In a July update, Lin noted that Dryden was conducting a LIFE financing at CA$0.20 per share and remarked that it "would be a good time to pick up shares at around 20c for those interested in the project." On August 22, he highlighted a new intercept from the company, stating, "Dryden Gold Corp. continues to hit high-grade gold, 8.68 g/t over 9.4m."
Chen Lin shared additional thoughts on September 15, noting, "Dryden Gold Corp.'s shares moved up nicely on good drilling results last week. The company continued to hit high grades and good intercepts, 3.5m over 55.34 g/t."
On August 14, Jeff Clark of The Gold Advisor commented on Dryden Gold's upsized non-brokered LIFE financing, which increased from CA$7 million to CA$7.8 million. While recognizing the nearly 20% dilution, he emphasized that the additional capital would allow for continued drilling across high-grade targets in the Dryden District. Clark reiterated his belief that the stock's trading range represented "a good entry point for what might be the next Red Lake Gold district" and said the position "should be viewed as an overweight position." In an August 21 update, he noted, "Dryden Gold Corp.'s share price has traded sideways to down for much of the summer; with all those drill results on the way, though, the company shouldn't lack for news flow in the months ahead, any of which could be potential catalysts. This is [an] overweight position for me, and I would recommend the same to you."
Earlier this month, on September 11, Clark commented, "Dryden Gold Corp.'s drill results have delivered and then some; for the most part, that's due to an intercept of 55.34 g/t gold over 3.5m at flagship project Gold Rock. More specifically, it came within the highly prospective Gap Hole target and included a bonanza-grade hit of 379 g/t gold over 0.5m." Clark followed up on September 25, stating, "Dryden Gold Corp. is up but not like the moonshots. . . it does offer better value than those that have already gone 3–4–5x."
*On August 28, John Newell of John Newell & Associates rated Dryden Gold as a "Speculative Buy," citing favorable geology, a strong technical chart setup, and an experienced management team. Newell described Dryden as "not just a promising explorer in a proven region," but one assembling "a district-scale land position in what may become the next Red Lake analog." He pointed to the company's full ownership of over 70,250 hectares in northwestern Ontario and its advancement of three fully permitted and drill-ready projects: Gold Rock, Sherridon, and Hyndman. He also emphasized the concept of periodicity being tested along a 20-kilometer corridor within the Gold Rock Camp, calling it a defining trait of major gold systems.
Catalysts: Preparing for Drill-Ready Status at Hyndman
Dryden Gold's 2026 exploration program is scheduled to begin in the fourth quarter of 2025 and includes over 23,000 meters of drilling. The company has allocated CA$5.95 million for the 2026 program, including CA$650,000 for regional targets like Hyndman, which was permitted for fieldwork and drilling in 2025.
The channel sampling results at Hyndman represent the culmination of multiyear work that began with surface prospecting and geophysical interpretation. Now considered drill-ready, the project will transition from early-stage evaluation to subsurface exploration. According to corporate materials, Dryden Gold's broader 2026 strategy emphasizes district-scale exploration, with Hyndman forming a key part of this pipeline.
Streetwise Ownership Overview*
Dryden Gold Corp. (DRY:TSXV; DRYGF:OTCQB; FSE: X7W)
In addition to Hyndman, the company is also focused on expanding its flagship Gold Rock target and following up on earlier drill programs at Mud Lake and Sherridon. Each of these zones lies within the 50-kilometer-long Manitou-Dinorwic deformation zone (MDdz), a major regional fault system known for gold mineralization.
Dryden Gold is fully funded for its next phases of exploration, with a reported cash position of CA$8.4 million as of August 2025. The company continues to engage with regional stakeholders and participate in industry events, including the upcoming 121 Mining Investment Global Online conference scheduled for October 14–15, 2025.
Ownership and Share Structure
According to the company, management and insiders own 6.41%, with strategic entities owning 53.82% of Dryden.
Centerra Gold Inc. (CG:TSX; CADGF:OTCPK) holds 9.99%, with Alamos Gold Inc. (AGI:TSX; AGI:NYSE) holding a 11.97% stake in it. Euro Pacific Asset Management LLC owns 3.80%. There are 192 million shares outstanding.
Its market cap is CA$66 million, and it trades in a 52-week range of CA$0.395 and CA$0.105.
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Important Disclosures:
- Dryden Gold is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.
- As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Dryden Gold.
- James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
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* Disclosure for the quote from the John Newell article published on August 28, 2025
- For the quoted article (published on August 28, 2025), the Company has paid Street Smart, an affiliate of Streetwise Reports, US$2,000.
- Author Certification and Compensation: [John Newell of John Newell and Associates] was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Newell holds a Chartered Investment Management (CIM) designation (2015) and a U.S. Portfolio Manager designation (2015). The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.
John Newell Disclaimer
As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it's advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.
