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Fresh From Toronto: Three Mexican Beauties

Don’t know the reason, stayed here all season
Nothing to show but this brand new tattoo
But it’s a real beauty, a Mexican cutie
How it got here, I haven’t a clue…” —
Jimmy Buffet, Margaritaville

No, I wasn’t down on the beach in Mexico with Jimmy Buffet, nor did I get a new tattoo. But I did spend four days in Toronto at PDAC – the largest mining conference in the world, sponsored by the Prospectors & Developers Association of Canada.

This was the first PDAC conference in over two years, since March 2020. After that (I’m sure you recall!), much of the world shut down for Covid. But now it’s all getting back on track and this year’s event was one for the record books. For example, there were lots of people – so many that the Toronto Police were outside for crowd control.

Much happened in Toronto this past week, but I’ll skip the vignettes and nail down on the main point.

After a period of not being able to travel, visit sites, keep up to date with things, etc., at PDAC I reconnected with three great Mexican mining plays, and each one is a “real beauty” per the Buffet approach.

One is an up-and-running producer that mines ore and makes money. One is a prospect generator that’s doing quite well in the search for copper, silver and gold. And the third is a promising silver explorer, working in classic silver country.

Here’s a summary:

The producer is Avino Silver & Gold Mines Ltd. (NYSE American: ASM | TSX: ASM) (Avino). The company works near Durango, in a silver district that dates back to the mid-1500s (yes, almost 500 years!). Spanish conquistadores found silver, and successors mined the area for several centuries. The silver made Durango quite a wealthy venue for a time.

Since 1968, Avino has been taking the old Spanish and Mexican mines even deeper, into richer and richer ore bodies. I visited the site a while back, and in one excursion to the 800-foot level, I saw a massive face of near-pure sphalerite (ZnS) – zinc sulfide. This is just some of what comes out of the lifts, other ores bearing lead, silver and gold.

Like many companies, Avino was forced to slow down during Covid, but it’s now firing back up to a hot pace. It sells high-quality metal concentrates into a strong market – one key buyer is Korean giant Samsung. Now, Avino is on a growth track, and whatever happens with the rest of the stock market – crashing lately, you may have noticed – this “beauty” is positioned to move ahead and do well through the turmoil and out into the other side.

The next “beauty” is Riverside Resources Inc. (TSXV: RRI | OTCQB: RVSDF), a company that has been working in the northern state of Sonora for 20 and more years. Over time, Riverside has accumulated a large portfolio of mineral claims. Its business model is to team up with third parties to spend what management likes to call “other people’s money” on exploration and early-stage development.

Right now, the strong suit for Riverside is its relationship with mining giant BHP. That is, BHP is funding a major effort by Riverside to identify large-scale copper plays in Mexico. In this regard, BHP pays the overhead while Riverside works through its list of exploration prospects to match geologic potential to what BHP wants to see.

There’s serious upside from the fact that Riverside has already identified a good number of copper deposits that may suit BHP, as well as other deposits that are not exactly a BHP-match, yet still hold great upside for other development by other companies down the line.

In a world of future high demand and fading supply for critical minerals, Riverside is positioned to shine.

The final “beauty” on the list is a silver exploration play called Minaurum Gold, Inc. (TSXV: MGG | OTCQX: MMRGF). And yes, the name says gold but the exploration focus is definitely silver.

Minaurum works around the town of Alamos, in southern Sonora. This too is an old silver district from Spanish days, when miners pulled native silver – elemental “wire silver” – out of massive veins near the surface. In fact, there was a Spanish mint there for quite a while, which coined silver currency for use across old Mexico and the Spanish empire.

Old-style mining could only go so deep, though. And today we know that there’s a massive complex of mineralized rock remaining to be explored. It all lies beneath a vast, ancient, caldera-collapse volcano, with extensive “ring dikes” spreading outwards in all directions.

I’ve visited the site, and while it’s quite rugged it is also a promising exploration locale. Minaurum has released strong drilling results to date, with more to come. And again, in a world of monetary turmoil and looming shortages of critical metals – silver among them – this “beauty” deserves a good, hard look.

That’s all for now. Best wishes to everyone as we all navigate the current market and monetary rough seas.

Byron W. King




InvestorIntel is digging for stories at PDAC 2022

PDAC 2022 is underway, and InvestorIntel is one of the media sponsors at the world’s largest mining and exploration convention. We are busy looking for new stories and meeting old friends at the first in-person PDAC since 2020.

Monday through Wednesday (June 13-15), InvestorIntel is conducting exclusive interviews with industry leaders, presidents and CEOs of some of the most interesting silver, gold, rare earths, uranium and other critical materials companies.

On Monday our first panel was Rare Earths, Sustainability & Meeting the EV Market Demand hosted by InvestorIntel CEO and Founder Tracy Weslosky with panelists Mark Chalmers, President and CEO of Energy Fuels Inc. (NYSE American: UUUU | TSX: EFR) and Constantine Karayannopoulos, President, CEO and Director of Neo Performance Materials Inc. (TSX: NEO).

Our next panel discussion was hosted by Chris Thompson of eResearch on Silver, The Technology Metal & Market with Byron W. King, InvestorIntel columnist, Bald Eagle Gold Corp.‘s (TSXV: BIG) CEO Chris Paul, Silver Bullet Mines Corp.‘s (TSXV: SBMI) VP Capital Markets and Director Peter Clausi, and Simon Ridgway, Founder, Director, President and CEO of Volcanic Gold Mines Inc. (TSXV: VG).

To finish off Monday’s schedule, InvestorIntel columnist and renowned critical materials expert Byron W. King, led a panel discussion on Building the EV Material Supply Chain with Appia Rare Earths & Uranium Corp.‘s (CSE: API | OTCQB: APAAF) President Frederick Kozak, Search Minerals Inc.‘s (TSXV: SMY | OTCQB: SHCMF) President, CEO, and Director Greg Andrews, Avalon Advanced Materials Inc.’s (TSX: AVL | OTCQB: AVLNF) President, CEO and Director, Don Bubar, and Vital Metals Limited‘s (ASX: VML | OTCQB: VTMXF) Managing Director, Geoff Atkins.

If you are at PDAC, be sure to visit the InvestorIntel media studio on Level 700.




Chris Thompson talks about eResearch initiating coverage of Blue Star Gold

In this InvestorIntel interview with host Tracy Weslosky, eResearch Corporation’s President & Director of Research Chris Thompson talks about his new 52-page Equity Research Report on Blue Star Gold Corp. (TSXV: BAU | OTCQB: BAUFF).

In the interview, which can also be viewed in full on the InvestorIntel YouTube channel (click here), Chris examines the potential of Blue Star’s Ulu Gold Property, an advanced high grade gold and silver project in Nunavut, Canada, with a combined existing estimated resource in all categories of over 800,000 oz Au. Together with their highly prospective Hood River Property contiguous to the Ulu property and Blue Star’s recent acquisition of the Roma Project, Blue Star’s district scale package is about  270 km2 of highly prospective and underexplored mineral properties in the High Lake Greenstone Belt, Nunavut.

Chris also discusses Blue Star Gold’s healthy cash position from a recent financing and its 2022 exploration program, as well as  its impressive management team, all of which are examined in more detail in his report.

To access the full InvestorIntel interview, click here

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About Blue Star Gold Corp.

Blue Star is a gold company focused on exploration and development within Nunavut, Canada. Blue Stars landholdings total approximately 270 square kilometres of highly prospective and underexplored mineral properties in the High Lake Greenstone Belt, Nunavut. The Company owns the Ulu Gold Property mining lease, an advanced gold project, the highly prospective Hood River Property that is contiguous to the Ulu lease, and the Roma Project. A significant high-grade gold resource exists at the Flood Zone deposit (Ulu lease), and numerous high-grade gold occurrences and priority targets occur throughout the Ulu, Hood River and Roma Projects.

To learn more about Blue Star Gold Corp., click here

About eResearch Corporation

eResearch Corporation, which was founded in 2000, is a respected source for institutional-quality, equity research focused primarily on small- and mid-cap companies. Our focus is on identifying companies that have interesting prospects, sound management, and significant potential for share price appreciation.

We also provide research reports on middle and larger-sized companies, using a combination of fundamental and technical analysis. We complement our corporate research coverage with a diversified selection of informative, insightful, and thought-provoking research publications from a wide variety of investment professionals. We provide our professional investment research and analysis directly to our extensive subscriber network of discerning investors, and electronically through our website, www.eresearch.com.

We are not affiliated with or owned by any financial institution, investment banker, brokerage firm, or investor-related organization. We are a private firm, 100%-owned by employees and private investors.

Disclaimer: This interview, which was produced by InvestorIntel Corp., (IIC), does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please contact us at +1 416 792 8228 and/or email us direct at info@investorintel.com.




Chris Paul of Bald Eagle Gold talks about plans for its Hercules high grade silver project

In this InvestorIntel interview with host Tracy Weslosky, Bald Eagle Gold Corp.‘s (TSXV: BIG) asks CEO and Director Chris Paul why e-Research President and Director of Research Chris Thompson is so enthusiastic about Bald Eagle’s recently acquired high grade silver asset in western Idaho.

In the interview, which can also be viewed in full on the InvestorIntel YouTube channel (click here), Chris talks about Bald Eagle’s Hercules Silver Property with 28,000m of drilling in over 300 shallow historical drill holes in what has been rated the number one mining-friendly jurisdiction in the world. He goes on to talk about Hercules’ very large target size with the historical drilling covering over three and a half kilometers of high grade silver with potential for further expansion and possibly reaching upwards of 100 to 200 million ounces of silver. Chris says shareholders should watch for the coming planned 3000m drill program aimed at expanding the known silver mineralization and upgrading the historical resource to NI 43-101 complaint.

To access the full InvestorIntel interview, click here

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About Bald Eagle Gold Corp.

Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of the Hercules Silver Project, northwest of Cambridge, Idaho. The Corporation’s management team brings extensive and successful international experience with a focus on identifying and acquiring prospective and under-explored precious metals properties worldwide. The board of directors have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets. From time to time, the Corporation may also evaluate the acquisition of other mineral exploration assets and opportunities.

To learn more about Bald Eagle Gold Corp., click here.

Disclaimer: Bald Eagle Gold Corp. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp., (IIC), does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please contact us at +1 416 792 8228 and/or email us direct at info@investorintel.com.




Drilling and cash the key to picking the next junior gold explorer break out

In early September, 2021 I wrote an article on the merits of potentially investing in gold, more specifically the gold miners, as they had been underperforming the underlying commodity price. Did the trade work out? It depends on when you bought and if/when you sold. Frankly, I’m not overly concerned because I’m not an investment advisor and I’m not qualified to provide anyone with investment recommendations. I’m simply trying to present ideas to readers that they can evaluate on their own and decide if it’s a good idea for them in the context of their risk/reward profile. With that said, I will take another stab at trying to make a case for the potential to invest in junior gold explorers in the context of the current market.

As I noted in the first article, I’m not a gold bug, I’m just an investor. I have no vested interest in talking up gold or any of the underlying equities. However, because I write about a lot of junior mining stocks, many of them being gold explorers or at least companies having some precious metal exposure, I’ve noticed of late that a lot of them are trading at or near 52-week lows. This got me wondering if there was a legit reason for this or if the junior sector was simply getting crushed by a massive “risk-off” trade. Of note, I’m specifically looking at explorers this time around, not producers. Producers have been facing their own set of challenges with rapidly increasing costs, like Equinox Gold Corp. (TSX: EQX | AMEX: EQX) or geopolitical risks like Kinross Gold Corp. (TSX: K | NYSE: KGC). Check out how Equinox performed at the end of April when they guided much higher with their AISC (all in sustaining cost) than the market was expecting. And they aren’t alone in this issue, so I figured I’d stick to the segment of the market that is purely driven by drilling results and optimism around gold prices.

As for the price of gold, if I had a dollar for every “expert” on the business news channels over the last 6 months that got the call on gold prices correct, I wouldn’t have very much money right now. Back in September I simply stated that the price of gold looked OK but not outstanding. A 1-year chart had support levels at $1,770 and $1,675 with upside to potentially test $2,000 but if the price rallied back above $1,850 for a couple of days I would change my tune. Gold got down to $1,740 in late September, made a “head fake” break out above $1,850 for 2 weeks in November, retested $1,775 in December then went on a great run up to $2,000 in March. I could argue I was right, and someone could just as easily argue I was wrong. Timing is everything and everything changes with time.

Fast forward 8 months and not much has changed from a technical perspective. I still see support around $1,750 with an upside to $2,050 but it would have to trade above $1,910 for me to get excited right now, which seems to be an interesting resistance level, as well it would get you above the 200 day moving average. Of note, it appears that gold is pretty safe to sell if the RSI (relative strength index at the top of the chart) gets above 70 and potentially a buy when the RSI touches 30.

Source: Stockcharts.com

What I didn’t do last time, but will endeavor to undertake this time, is some macro comments on why gold the commodity may be poised to finally break out. Generally speaking, gold tends to have a negative correlation to the US Dollar, which recently hit all time highs relative to virtually every major currency. The US Dollar is overbought and appears to be starting to roll over. This could result in some bullish sentiment returning to gold. Another macro observation is that gold seemed to be fighting for investing interest with the crypto universe. Cryptocurrencies were being billed as the new gold. At least for the time being, that doesn’t seem to be the case as crypto investors appear to be running for the exits. Will gold benefit from this? We may never know but it likely doesn’t hurt gold’s popularity. Lastly, gold is sometimes considered an inflation hedge and if you’ve put gas in your car or been grocery shopping you know inflation is taking its toll. Right now funds flow appears to be chasing oil stocks as the inflation hedge but once portfolio managers hit a certain threshold of oil exposure they will look elsewhere. Perhaps that could be a tailwind for gold, but this is the factor I have the least confidence in.

So what does it all mean? Putting a bunch of mixed and random thoughts together has led me to believe that junior gold mining explorers may be getting unduly punished right now by a market full of uncertainty bordering on fear. However, the opportunity is not broad based. You want to look at companies with cash to fund future drilling because if they don’t have the money right now, you don’t want to be out raising capital at 52-week lows. Preferably you want to find companies with active drilling underway so you don’t have to wait too long for news to come along but having cash is the #1 priority.

Here are a couple of ideas in no particular order, including Troilus Gold Corp. (TSX: TLG | OTCQX: CHXMF) and Westward Gold Inc. (CSE: WG | OTCQB: WGLIF), that meet the criteria of cashed up and drilling like mad.




Will Sokoman Minerals be Eric Sprott’s next Newfoundland gold success story?

Every once in a while I find myself scanning through a company’s website or press releases and then I have to pause for a moment and go back and re-read something. Instead of the usual content you expect to see, something jumps off the page and you have to make sure you read it correctly and that your eyes weren’t playing tricks on you. Today’s junior mining stock had me doing this a couple of times for several different reasons. The company is unusual (in a good way) and not simply because Eric Sprott beneficially owns 25% of the outstanding shares (even more if warrants are exercised). It also had nothing to do with its location, Newfoundland & Labrador, although that’s why I was looking at it in the first place as I just happen to enjoy reading and writing about this special part of Canada.

The first thing that jumped off the page for me was “Approximately 48,000 metres remain to be completed in the current 100,000 m drill program”. For a junior miner anywhere, that is a giant volume of drilling, which also means there has to be plenty of cash around as well. How about a treasure stocked with C$13 million? Seems like enough to undertake such an enormous exploration program and as the Company states “sufficient funds to undertake all the exploration activities planned for 2022”. The last thing that stood out was the number of projects being actively explored – 5. Most junior mining companies don’t have more than 2 or 3 properties to pursue, often only 1, and even more rare is the resources to be working on all these projects over the next 3-6 months.

Needless to say, I was hooked. I had to find out more about Sokoman Minerals Corp. (TSXV: SIC | OTCQB: SICNF), and let me tell, there is a lot more to learn. The Company’s primary focus is its portfolio of gold projects; flagship Moosehead Gold Project, Crippleback Lake (optioned to Trans Canada Gold Corp.) and East Alder (optioned to Canterra Minerals Corporation) along the Central Newfoundland Gold Belt, and the district-scale Fleur de Lys project in north-central Newfoundland. The Company also recently entered into a strategic alliance with Benton Resources Inc. (TSXV: BEX) through three, large-scale, joint-venture properties including Grey River, Golden Hope and Kepenkeck in Newfoundland. Sokoman controls, independently and through the Benton alliance, over 150,000 hectares (>6,000 claims – 1500 sq. km), making it one of the largest landholders in Newfoundland, in Canada’s newest and rapidly-emerging gold districts. The Company also retains an interest in an early-stage antimony/gold project (Startrek) in Newfoundland, optioned to White Metal Resources Inc., and in Labrador, the Company has a 100% interest in the Iron Horse (Fe) project which has Direct Shipping Ore (DSO) potential.

I’m still trying to figure out what metal or minerals Newfoundland & Labrador doesn’t have as it seems the region has an abundance of everything. Along those lines, the Golden Hope JV with Benton made the first high-grade lithium discovery in Newfoundland in September, 2021. The first assay results from the drilling program that tested the Kraken pegmatite field returned an average of 0.95% Li2O over 8.40 m with grades as high as 1.76% Li2O. Not bad when you are looking for gold. The Alliance has proposed a C$3 million budget for a summer drill program testing as many of the known pegmatite dykes as possible, with up to 30-40 holes planned. Camp setup and drill mobilization are expected in mid-June.

But as interesting as this is, for today I think will focus on where the bulk of the drilling is being done, and that’s the Moosehead Gold Project where visible gold has been intersected in drilling over a 2 km strike length. From 2018-2021 Sokoman completed ~73,000 m of drilling with ~360 holes, leading to the discovery of 4 significant zones, all of which remain open. Highlights from these zones rival some of the findings from their neighbors to the east, New Found Gold Corp. (TSXV: NFG | AMEX: NFGC) another Eric Sprott backed gold miner in Newfoundland:

Western Trend • MH-18-08 • 1.05 m @ 207.5g/t Au from 8.5 m; and 2.28 m @ 42.36 g/t Au from 33.1 m

Eastern Trend • MH-18-01 • 11.9 m @ 44.96g/t Au, including 5.65 m @ 93.56 g/t Au from 115.2 m

75 Zone • MH-21-23 • 44.8 m @ 17.56g/t Au, including 2.75 m @ 30.59g/t Au from 44.75 m

South Pond • MH-20-12 • 35.0 m of 26.87 g/t Au, including 2.15 m @ 60.59 g/t Au from 47.0 m

Heading into 2022 is where things get really exciting. Results last week, some of the first holes from the 100,000 m 2022 program, expanded the 75 Zone and essentially linked it with the main Eastern Trend/Footwall Splay mineralization (see picture below). In addition, MH-22-418, completed last week (assays pending) intersected the deepest occurrence of visible gold to date on the property at a downhole depth of 352 m.

Source: Sokoman Minerals May 19, 2022 Press Release

It would appear there will be a steady stream of drilling results coming from Sokoman Minerals over the following weeks and months, not only from Moosehead, but Golden Hope and Grey River with JV partner Benton Resources Inc. There is a lot going on at this well funded, junior gold (and now lithium) explorer. With a market cap of C$66 million it’s not hard to imagine plenty of upside when one of your comparables is New Found Gold at a market cap of C$1.2 billion.




Colin Moore of Westward Gold talks about the value of his network of shareholder ambassadors

In this InvestorIntel interview with host Tracy Weslosky, Westward Gold Inc.’s (CSE: WG | OTCQB: WGLIF) President, CEO & Director Colin Moore talks about Westward Gold’s network of investors and provides an update on the inaugural drill campaign at their Toiyabe Project in Nevada, USA.

In the interview, which can also be viewed in full on the InvestorIntel YouTube channel (click here), Colin Moore talks about  Westward Gold’s 4000m drill program scheduled to start in June to step out from the existing historical resource of their Toiyabe Gold Project. Colin discusses the strategic location of Westward Gold’s properties which are “in prime real estate surrounded by massive producing gold mines owned by major mining companies like Barrick, Newmont and Anglo with a 40 km2 land package right in the heart of that trend.” Colin also talks about Westward Gold being featured in an upcoming TV project with actor Dennis Quaid which will also be aired in the US next month on major networks.

Don’t miss other InvestorIntel interviews. Subscribe to the InvestorIntel YouTube channel by clicking here.

About Westward Gold Inc.

Westward Gold is a mineral exploration company focused on developing the Toiyabe, Turquoise Canyon, and East Saddle Projects located in the Cortez Hills area of Lander County, Nevada. From time to time, the Company may also evaluate the acquisition of other mineral exploration assets and opportunities.

To know more about Westward Gold Inc., click here

Disclaimer: Westward Gold Inc. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp., (IIC), does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please contact us at +1 416 792 8228 and/or email us direct at info@investorintel.com.




Justin Reid of Troilus Gold talks about its updated resource estimate and PFS coming in July

In this InvestorIntel interview with host Byron W. King, Troilus Gold Corp.’s (TSX: TLG | OTCQX: CHXMF) CEO and Director Justin Reid talks about the significant resource growth potential for the Troilus Gold-Copper Mine in the upcoming update to its mineral resource estimate and PFS expected in July 2022.

In the interview, which can also be viewed in full on the InvestorIntel YouTube channel (click here), Justin Reid discusses progress in restarting their past-producing Troilus mine and the coming update to their current open-pittable resource of 8.1 Moz AuEq. With $30 million in the bank and about 60% institutional ownership, Justin explains how the Troilus mine is positioned to be among the top 5 gold producers in Canada and the largest copper producer in Quebec.

Don’t miss other InvestorIntel interviews. Subscribe to the InvestorIntel YouTube channel by clicking here.

About Troilus Gold Corp.

Troilus Gold Corp. is a Canadian-based junior mining company focused on the systematic advancement and de-risking of the former gold and copper Troilus Mine towards production. From 1996 to 2010, the Troilus Mine produced +2 million ounces of gold and nearly 70,000 tonnes of copper. Troilus is located in the top-rated mining jurisdiction of Quebec, Canada, where is holds a strategic land position of 1,420 km² in the Frôtet-Evans Greenstone Belt. Since acquiring the project in 2017, ongoing exploration success has demonstrated the tremendous scale potential of the gold system on the property with significant mineral resource growth. The Company is advancing engineering studies following the completion of a robust PEA in 2020, which demonstrated the potential for the Troilus project to become a top-ranked gold and copper producing asset in Canada. Led by an experienced team with a track-record of successful mine development, Troilus is positioned to become a cornerstone project in North America.

To know more about Troilus Gold Corp., click here

Disclaimer: Troilus Gold Corp. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp., (IIC), does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please contact us at +1 416 792 8228 and/or email us direct at info@investorintel.com.




In a week of losses the market seems to think Westward Gold might be on to something

It’s not often that you see a junior mining company release a general corporate update, with no new drill results, that sparks a 45% rally in the stock with a dramatic and sustained increase in daily volume. Especially over the last two weeks, which hasn’t exactly been a “risk-on” type of market. Naturally, I was inclined to have a look and see what all the fuss was about.

It may come as no surprise that I had no idea what most of the somewhat technical press release was trying to convey. My commerce degree and business experience have not blessed me with the ability to interpret geologic concepts. I can grasp oz/tonne, true width, depth, inferred resource, etc. but that’s all just math (which my degree and business experience did equip me to comprehend). But when it comes to hyperspectral imaging, induced polarization survey, or the role of compressional structures on stratigraphy, you might as well be speaking another language, specifically one I don’t understand. However, the market has spoken and the market is always right, so even though I may not understand it, it appears that it is pretty good news.

The company that has generated this recent buzz is Westward Gold Inc. (CSE: WG | OTCQB: WGLIF), a mineral exploration company focused on developing the Toiyabe, Turquoise Canyon, and East Saddle Projects located in the Cortez Hills area of Nevada. They’ve assembled a 3,830 hectare land package in the heart of Nevada’s Battle Mountain-Eureka Gold Trend, one of the most prospective mining districts in the world, approximately 10 kilometers southwest of Barrick Gold Corp.’s Cortez Hills mine and adjacent to Barrick’s past producing Toiyabe-Saddle Mine.

The press release that caught the market’s attention was a seemingly run-of-the-mill corporate update, but I guess the devil is in the details. I’ve already stated that a lot of the technical information was over my head but I’ll try and interpret what made this particular update a little more special. It was a very thorough summary of the last year’s activity, but there wasn’t a lot of news that hadn’t already been disclosed. As near as I can tell, only the IP Survey, possibly reinterpretation of legacy geophysical data, and the combination of this data, with previously disclosed information, to come up with new stratigraphic findings are new to the public domain. So the excitement must lie somewhere within there.

Highlights from the 17 line-kilometer IP Survey point to the main host rock at the Historical Resource at Toiyabe (~173 koz at 1.2 g Au/t) being interpreted to also be present at Turquoise Canyon, under only 150-250 meters of cover. The chargeability model confirms two near-term step-out targets at Toiyabe and further informs priority targets at Turquoise Canyon. Reinterpretation of legacy geophysical data confirmed the IP findings related to the presence of favorable Lower Plate carbonates below the Upper Plate cover at Turquoise Canyon and further understanding of the geometry of the carbonate window and associated structures at Toiyabe. Certainly, positive news but even a layman like myself is struggling to find anything market-moving here.

Toiyabe-Saddle Mine North Pit. Source: Company website

That suggests it’s all down to the new stratigraphic findings (or I’ve completely missed the boat on this one, which is entirely possible). Cross-section analysis provided for a new understanding of the role of compressional structures on stratigraphy, the dip of mineralization, and a potential link between mineralization at surface in the Toiyabe-Saddle open pits and at depth at Toiyabe. Repetition of favorable lithologies (stratigraphic duplex) appears to occur beneath the Historical Resource. The Company believes this confirms that gold mineralization is hosted in the Horse Canyon and Wenban Formations, which are documented gold hosts at the nearby Pipeline, Cortez Hills, Goldrush, and Fourmile deposits.

If that is the good news, I will always be late to the dance because I look for something more understandable (to me), like drill results, to get me excited. To that end, the Company is proceeding with a 12-15 hole, 4,000 meter drilling campaign scheduled to begin in June, focusing on several of the targets noted above. This initial drilling program is budgeted to be roughly US$1 million, which leaves ample funds for Phase 2 drilling later in the year following the Company’s recent C$2.5 million financing, which closed in February.

At the end of the day, the market has spoken and people a lot more knowledgeable than me are suggesting Westward Gold might be on to something in Nevada. With a market cap of only C$10 million, this is another example of an almost free option on a company with an interesting next couple of months ahead of it.




With coming PFS Troilus Gold sees potential to be a cornerstone gold mine for decades to come

Many small gold mining stocks fail to deliver. This is the nature of mining, especially gold, given gold is so hard to find. Today’s company is an exception as it continues to deliver solid results at their gold-copper project in Quebec Canada.

Troilus Gold Corp. (TSX: TLG | OTCQX: CHXMF) (Troilus) is a junior gold mining success story potentially in the making. The Company bought the former gold and copper Troilus Mine in 2017 and has successfully grown the resource since then to the point where Troilus now has one of the largest undeveloped gold resources in Canada. The Troilus Gold Project now has an Indicated Resource of 4.96 million ounces of contained AuEq @ 0.87g/t AuEq and an Inferred Resource of 3.15 million ounces of contained AuEq. The Project consists of a 142,000 hectares (1,420 km²) land package in north central Quebec, Canada and lies within the prospective Frôtet-Evans Greenstone Belt.

The Troilus Gold Project in Quebec, Canada is a former gold-copper mine with plans to restart and produce 220-250,000 Au oz pa

Source: Troilus Gold Corp. company presentation

A recap of 2021 for Troilus

Troilus CEO, Justin Reid, summed up 2021 nicely stating: “2021 was an intensive year of work by the Troilus team as it continued to solidify the foundations and advance our mining project, which we believe has the potential to be a cornerstone Canadian mine for decades to come……First and foremost, we had great success with the drill bit and in the field… As it turned out, the more we drilled, the more mineralization we found. Our understanding of the geology at Troilus continues to improve and evolve. In 2021, we drilled ~100,000 metres, over 50% of which were drilled in the newly discovered Southwest Zone, where we identified some of the best grades ever at Troilus. This zone continues to be a priority growth target, with results suggesting a much broader system well beyond the existing mineral envelope which remains open at depth and in all directions. 2021’s drill program also identified a new hanging wall in the J Zone, demonstrating mineral continuity over a 700m strike length parallel to the main ore body.”

Note: Bold emphasis by the author.

The Troilus Gold Project showing the various gold discovery zones as well as the 2020 PEA pit shell designs

Source: Troilus Gold company presentation

Recent success has seen the stock price move higher in 2022

Recent drilling has continued this success with further high grade results notably at the Southwest zone, but also making a new discovery at Testard. Troilus has also had some very good gold (92.9%) and copper (90.4%) recovery results from their pilot test program.

  • May 4, 2022 – “Troilus drills 13.64 g/t AuEq over 3m, Incl. 29.81 g/t over 1m, 2.42 g/t AuEq over 6m, 2.11 g/t AuEq over 10m in the Southwest Zone; New mineral extension identified 300m below PEA pit shell… All the results reported today will be included in the mineral resource update and Pre-Feasibility Study, expected in mid-2022.”
  • April 21, 2022 – “Troilus drills record high-grade in Southwest Zone: 92 g/t and 68 g/t gold over 1m, and 3.07 g/t AuEq over 15m, Zone extended +200m; Initial gap Zone drilling returns 4.2 g/t AuEq over 7m.”
  • March 31, 2022 – “Troilus announces new discovery at Testard: Drills 4.6 g/t gold over 7.6m, Incl. 20.2 g/t over 1.2m; 6.7 g/t gold over 3.2m, 10km from main mine site.”

Regarding the new Testard discovery, Troilus CEO Justin Reid, stated: “Testard has returned the highest insitu gold and silver grades identified to date within the entire Frôtet-Evans Greenstone Belt; these initial drill results are hugely motivating to our team as we continue to assess results and further develop our models in preparation for an expanded drill program.”

Next steps

In mid-2022 Troilus expects to release an updated mineral resource estimate (will include results from the successful 2021 drill campaign) and a Preliminary Feasibility Study (PFS). The 2020 Preliminary Economic Assessment (PEA) resulted in a post-tax NPV5% of US$915 million, post-tax IRR of 32.2%, based on a US$1,750/oz gold price.

Closing remarks

Troilus continues to grow their resource and potentially move towards becoming a Canadian mid-tier gold producer.

The PEA mentioned above forecasts Troilus to be a low-cost producer with cash operating costs of US$719/oz AuEq. Given the rise in copper prices the past year this is likely to drop even lower in the upcoming PFS. Combine this with a larger resource and the potential for a low-cost, long life, mine only grows further. The 2020 PEA concluded that the “projected payable gold is 3.8 million ounces, payable copper 265 million lbs and payable silver 1.5 million ounces over the 22-year mine life.”

This makes Troilus a potential future mid tier gold producer in Canada, with gold production forecast at around 220-250,000 oz pa. Certainly, the initial CapEx (net of US$350 million of existing infrastructure) of US$333 million looks to be achievable. Sustaining CapEx over the life of the mine is estimated at an additional US$506 million.

Troilus Gold trades on a market cap of C$160 million. Looking good, especially if gold prices stay strong. Stay tuned for the upcoming updated resource estimate and PFS in the coming months.