Dryden Gold Corp. (DRY:TSXV; DRYGF:OTCQB; FSE: X7W) is well-funded through 2026 for an ambitious gold resource exploration program with district-scale potential, leading to an upgraded target price, according to a research note by Couloir Capital Analyst Ron Wortel on October 16.
Wortel said multiple stacked high-grade structures have been confirmed across 1 kilometer at the Elora Gold System, expanding the resource footprint.
The Gap Hole discovery validates nine stacked zones over 540 meters, linking the Big Master and Elora systems, with an additional 150 meters to the Paymaster structure from Spyglass, he noted.
Surface sampling at Hyndman yielded 23.32 grams per tonne gold (g/t Au) over 2.8 meters, confirming it as a priority drill target for 2026.
And Sherridon intersected 1.28 g/t gold over 19 meters, indicating bulk-tonnage potential across a 5-kilometer anomaly, he wrote.
Wortel also noted that Red Lake-style structural controls have been confirmed at the Jubilee, Pearl, and Laurentian zones with visible gold; and structural modeling has identified shear-parallel, fold-related, and en-echelon styles, guiding high-grade targeting.
Capital and Institutional Support
A CA$7.82 million LIFE financing has closed, with Centerra Gold maintaining a 9.9% stake, validating the project's potential, the analyst said.
The financing fully funds a 23,000-meter drill program through mid-2026, enabling aggressive exploration.
Strategic advisors with deep geology and capital markets experience have been added to support resource definition, Wortel said.
These developments position Dryden Gold for sustained exploration momentum and resource growth, supporting a new fair market target of CA$0.85 for the stock going into 2026.
Conclusion
Wortel said Dryden Gold is delivering on the catalysts outlined in Couloir's initial report on the company, with "results that exceed our estimates in terms of grade and timing for the execution of their plans."
The company also noted that the program is advancing more quickly than estimated, with the discovery of parallel mineralized structures and extensions in the Gold Rock target area, the analyst wrote.
The support in the market with an upsized financing, including another top-up financing by Centerra Gold, shows that Dryden Gold is a story of interest in the junior exploration sector.
"We are reaffirming our recommendation for the stock, accompanied by an increased share price target, supported by a new budget and our expectations of continued success," Wortel wrote.
| Want to be the first to know about interesting Gold investment ideas? Sign up to receive the FREE Streetwise Reports' newsletter. | Subscribe |
Important Disclosures:
- Dryden Gold Corp. 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 Corp.
- Steve Sobek 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.
For additional disclosures, please click here.
Disclosures for Couloir Capital, Dryden Gold Corp., October 16, 2025:
This report has been prepared by an analyst on contract with or employed by Couloir Capital Ltd. The analyst certifies that the views expressed in this report, which include the rating assigned to the issuer’s shares as well as the analytical substance and tone of the report, accurately reflect his or her personal views about the subject securities and the issuer. No part of his / her compensation was, is, or will be directly or indirectly related to the specific recommendations. Couloir Capital, its affiliates, and their respective officers, directors, representatives, researchers, and members of their families may hold positions in the companies mentioned in this document and may buy and/or sell their securities. Additionally, Couloir Capital may have provided, in the past and may provide, in the future, certain advisory or corporate finance services and receive financial and other incentives from issuers as consideration for the provision of such services.
Couloir Capital has prepared this document for general information purposes only. This document should not be considered a solicitation to purchase or sell securities or a recommendation to buy or sell securities. The information provided has been derived from sources believed to be accurate, but cannot be guaranteed. This document does not consider the particular investment objectives, financial situations, or needs of individual recipients and other issues (e.g., prohibitions to investments due to law, jurisdiction issues, etc.) that may exist for certain persons. Recipients should rely on their own investigations and take their own professional advice before making an investment. Couloir Capital will not treat recipients of this document as clients by virtue of having viewed this document.
Company-specific disclosures, if any, are below:
1 In the last 24 months, Couloir Capital Ltd. has been retained by the subject issuer under a service agreement that includes analyst research coverage.
2 The views of the Analyst are personal.
3 No part of the Analyst’s compensation was directly or indirectly related to the specific ratings as used by the research Analyst in the Reports.
4 The Analyst does not maintain a financial interest in the securities or options of the Company.
5 The principal of Couloir Capital maintains a financial interest in the securities or options of the company through an affiliated hedge fund entity.
6 The information contained in the Reports is based upon publicly available information that the Analyst believes to be correct but has not independently verified with respect to truth or correctness.
