IntelRadio’s Ellis Martin interviews Homestake Resource’s CEO on gold and silver in North America
September 23, 2014 — The following is an IntelRadio news report hosted by Ellis Martin with Joseph A. Kizis, Jr., President and Director of Homestake Resource Corporation (TSXV: HSR) and is a special feature of InvestorIntel.
Ellis Martin: Today I’m visiting with Joseph A. Kizis, Jr., President and Director of Homestake Resource Corporation, trading on the TSX Venture Exchange under the symbol HSR. Homestake Resource Corporation is committed to increasing shareholder value with an experienced management team that has successfully demonstrated the ability to identify, explore and develop gold/silver properties within North America. Joe, welcome to IntelRadio.
Joseph A. Kizis: Thank you for having me.
Ellis Martin: Homestake recently received notice from Agnico-Eagle Mines of its intention to let lapse its option to earn an initial 51% interest in the Homestake Ridge property in northwestern British Columbia, with Homestake retaining 100% ownership of the property. Would you explain what this news means for Homestake?
Joseph A. Kizis: Well, of course, we have a significant resource already identified. The work that Agnico had done was really looking for additional deposits along trend in another portion of the property. Their work really did not affect the fact that we had developed a significant resource. We think that they discovered the top of a new deposit, which we call the Slide Zone. It’s primarily silver that they had drilled to date. Their thought was, well, this is not a silver deposit. We’re a gold deposit. This is not really what we’re looking for. We’re looking for additional gold. The model that we’ve developed and we’ve successfully used over the last 10 years has really evolved to the point where we’ve been able to discover three deposits on the property so far. Our feeling is that silver mineralization is really the top of a brand new system, which if that proves out to be the case, that would be our fourth gold deposit on the property. Although we’re not happy to have lost Agnico as a partner, they’re a great mining company, we feel like this is a good opportunity for the company to develop the next gold deposit on the property.
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Ellis Martin: So like any aggressively positioned exploration company, your focus is to further identify gold and silver deposits in the district in order to increase the value of the overall resource in the ground.
Joseph A. Kizis: Yes. The district itself has some of the world’s best deposits. This is the Jurassic belt of deposits that extend. It would include deposits Eskay Creek, Brucejack, KSM. I mean, these are really some spectacular deposits. The reason we choose those belts to look in is because we think that that increases our odds of discovery significantly. We have the south end of that belt and two projects. The smaller project is Homestake Ridge where we’ve worked for the last ten years and the larger project is adjacent and partially surrounded by another company that have the old producing Dolly Mine. That’s Dolly Silver with Hecla Mining Company. The other significantly sized property is the Kinskuch project. The combination of the two projects gives us somewhere between 70% and 80% of the district. Just to give you an idea of size it’s about half the length of the Carlin Trend in Nevada, which most people are familiar with and contains a number of significant gold deposits. Due to structure it’s actually repeated on the east side so it’s a significant district scale project that we’ve developed at Homestake and Kinskuch.
Ellis Martin: This is a potentially big story here, if you’re speaking of an Eskay size system. Of course, these are still early days, but the upside seems very significant.
Joseph A. Kizis: I would think the upside is fabulous. We’ve really shown that. Our resource growth has been quite good over time. We started in the project. We acquired it from Teck actually back in 2003 and made our first discovery hole in what we have since called the main Homestake deposit in 2005. As we were drilling that out we recognized that those deposits tend to form in clusters and we started doing work on several other projects. In 2009, three years later, we made our second discovery at Homestake Silver. Two years we made a discovery at what we call our South Reef Deposit.
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