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Highlights
- 55 North Mining owns 100% of the high-grade Last Hope Gold Project in Manitoba.
- The project has a NI 43-101 resource of 199,000+ ounces of gold with grades up to 6.75 g/t Au, open along strike and down plunge.
- The company launched a LiDAR survey to refine geological interpretations at Last Hope.
- Winter drilling planned to test strike extensions and expand mineralized footprint.
- The company intends to complete a private placement to raise up to CAD 6 million for exploration and working capital.
55 North Mining Inc. (CSE:FFF), a Canadian exploration and development company, continues to gain strong investor traction as it advances its 100%-owned high-grade Last Hope Gold Project in Manitoba, Canada. The company’s stock has seen remarkable momentum, climbing over 72% in the past three months and surging 764% over the last six months, as of October 27, 2025.
A High-Grade Asset with Expansion Potential
The Last Hope Gold project hosts a National Instrument 43-101 compliant resource totaling:
- Indicated:154,060 tonnes grading 6.75 g/t Au for 33,458 gold ounces
- Inferred: 872,977 tonnes grading 5.91 g/t Au for 165,812 gold ounces.
Located near Alamos Gold’s 1.8 million-ounce Lynn Lake Gold Project, currently in the permitting stage, Last Hope enjoys strategic proximity to a well-known mining district. The deposit remains open along strike and down plunge, presenting continued exploration potential.
LiDAR Survey to Refine Drill Targets
55 North Mining recently launched a detailed LiDAR (Light Detection and Ranging) survey over the Last Hope Gold project area. The airborne survey began on October 16, 2025, and will provide high-resolution topographic data to enhance geological modeling and support drill targeting. The LiDAR results are also expected to assist in winter access planning and logistics preparation for upcoming fieldwork.
As part of its winter exploration program, 55 North Mining plans to drill eight fences of two holes each, spaced at approximately 120 meters apart, aimed at expanding the known mineralized zones and testing for potential strike extensions. Drilling is expected to progress at a rate of six to eight holes per month, with the first phase scheduled for completion by late March 2026.
The estimated all-in drilling cost stands at about CAD 250 per meter, inclusive of mobilization, supervision, assay, and logistics.
Bruce Reid, CEO of 55 North Mining, noted that the LiDAR program is a key step in enabling an efficient, data-driven drilling campaign. He emphasized that enhanced topographic data will help identify subtle geological features that may influence gold mineralization.
CAD 6Mn Financing to Drive Next Growth Phase
Earlier this month, the company announced a non-brokered private placement financing of up to 12,000,000 common shares at CAD 0.50 per share, for total gross proceeds of up to CAD 6 million. The company plans to use the proceeds to fund the upcoming drilling program and for general corporate purposes, including working capital and overhead.
With a high-grade resource, ongoing exploration progress, and fresh capital in hand, 55 North Mining is focused on accelerating its path toward value creation at the Last Hope Gold Project. As the company transitions into an active drilling phase supported by cutting-edge LiDAR data, investors will be watching closely for results that could further unlock the project’s potential in one of Canada’s most promising gold districts.
Shares of FFF last traded at CAD 0.54 on October 27, 2025.
