GoldMining has begun a Pre-Feasibility Study (PFS) and an initial 6,000-metre infill diamond drilling program at its 100%-owned São Jorge Gold Project in Pará State, Brazil, using three drill rigs. The drilling aims to upgrade inferred resources within the PEA pit shell to indicated classification and to provide fresh core for metallurgical and geotechnical work. The company expects the PFS to be completed in the first half of 2028. The PEA released June 11, 2026 modelled a 5,500 tpd open-pit operation over a 10.6-year mine life, with an after-tax NPV at a 5% discount rate of US$532 million, an after-tax IRR of 42.4% at a US$3,500 per ounce gold price, and average annual output of 51,250 oz. The company notes the PEA is preliminary and includes inferred resources, and there is no certainty it will be realized.
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