Western Exploration Inc. is moving forward with development activities at its Doby George gold project in Nevada as the company works toward a future construction decision for the proposed mining operation.
The company announced that it is advancing the Mine Plan of Operations for submission to the U.S. Forest Service while continuing engineering, environmental and infrastructure studies at the site. Doby George is part of Western Exploration’s Aura property, located roughly 120 kilometers north of Elko, Nevada.
“The activities we are announcing today reflect the steady, disciplined progress we are making at Doby George,” Chief Executive Officer Darcy Marud said in a statement.
“Our drill contractor is in place, hydrology fieldwork has begun, we are now in dialogue with a power provider on the grid connection options and baseline biology work is advancing,” Marud added.
The company said the current work program is designed to move the project from a preliminary economic assessment stage toward becoming a permitted, construction-ready mining operation.
Western Exploration has secured a drilling contractor for its 2026 program at Doby George, where activities will include infill drilling, step-out drilling, geotechnical testing and hydrological studies. Groundwater monitoring wells are also planned as part of the environmental review and mine design process.
The hydrology study recently commenced and is expected to provide data needed for water management planning and environmental permitting documentation required by federal regulators.
“It’s been a beehive of activity so far in the first and the start of the second quarter,” Marud said in a video message posted to shareholders.
The company has also initiated discussions with a regional electric utility regarding a potential grid connection for the mine. A formal feasibility study is expected to begin during the third quarter of 2026 and will evaluate routing options, infrastructure needs, timing and estimated costs.
Western Exploration said connecting the project to the regional electrical grid could lower long-term operating expenses and reduce environmental impacts compared with standalone power generation systems.
Environmental baseline biological studies also began earlier this year, with independent consultants conducting fieldwork focused on vegetation, wildlife and ecological conditions surrounding the proposed mine site. The data will support environmental review materials required for the Mine Plan of Operations submission.
The Doby George project was outlined in a 2025 preliminary economic assessment that envisioned an open-pit, heap-leach gold operation with relatively modest upfront capital requirements.
According to the assessment, the project could generate an after-tax net present value of approximately US$70.7 million using a gold price assumption of US$2,150 per ounce. At higher gold prices of US$3,000 per ounce, the after-tax net present value increases to more than US$211 million.
The study projected approximately US$271 million in after-tax life-of-mine cash flow over a five-year operating period.
Analysts following the company have said the market may be undervaluing Western Exploration as it transitions from exploration toward development.
Paradigm Capital analyst Lauren McConnell recently initiated coverage with a speculative buy rating and a CA$2 target price, citing the company’s permitting progress and development pathway at Doby George.
McConnell said the Mine Plan of Operations submission could help reposition the company as a near-term mine developer rather than solely an exploration company.
Technical analyst John Newell also praised the company’s dual-project strategy involving both Doby George and the Gravel Creek-Wood Gulch system, where Western Exploration is targeting additional resource expansion.
The company continues advancing both projects as higher gold prices and favorable market conditions support renewed investor interest in North American mining developments.
Originally reported by Streetwise Reports.
