P2 Gold said the Gabbs feasibility study remained on schedule for completion in the fourth quarter of 2026. By the end of May, the company had completed 69 reverse-circulation holes, comprising 45 at Lucky Strike and 24 at Sullivan, together with 29 metallurgical and slope-stability holes and 10 exploration diamond holes. Lucky Strike drilling was expanded north and south, while a second reverse-circulation rig was expected to target Sullivan's higher-grade down-dip extension.

Water-supply work included a test well and monitoring well near the proposed mine source, with further wells planned around the Sullivan and Lucky Strike pits to support groundwater and dewatering models. P2 had also applied to transfer 2,500 acre-feet per year of acquired water rights to mining-related uses. Feasibility-level column, flotation and variability testing was underway for Sullivan, Lucky Strike and Car Body, with metallurgical results anticipated during the third quarter.