CEO Vision & Strategy

“On the back of a successful 2017 Exploration Program, we are pleased to deliver the 2018 Mineral Resource Estimate, which demonstrates a significant increase in ounces, grades, and tonnes at the Phoenix Gold Project. This is an important step forward towards potentially advancing the Project to a viable commercial operation. We are uniquely positioned compared to other junior gold explorers because we have substantial mine infrastructure in place, including a new state-of-the-art 1,250-tonne per day mill, a completed tailings management facility, a 200-person camp, earth and civil works in place, a fully commissioned hoist and headframe, a shaft that is approximately 730-metres deep, mobile equipment and more than nine kilometres of underground development…”

“…We are pleased with the progress achieved to-date and we believe there is still further potential to improve upon the 2018 Mineral Resource Estimate. Our current exploration and test mining activities provides us with the potential opportunity to significantly enhance both the quantities and the classifications of the 2018 Mineral Resource Estimate at a future date.”

George Ogilvie, P.Eng.

President, CEO and Director 

 

Long-Term Vision: To potentially build a mid-tier gold Company over the next 5 to 7 years 

    • Potentially advancing the Phoenix Gold Project to  commercial production;
    • Organically growing the project pipeline from targets within 2 km proximity to the Phoenix Gold Project; and
    • Exploring our vast Regional Land Package in Red Lake.


2018 Exploration Program

Following a successful 2017 Exploration Program consisting of 28,500 metres (“m”) of oriented drilling and 10,000 m of historical core relogging, the Company is continuing to advance the Project with additional drilling, test mining and bulk sample processing activities in 2018. The objectives of the 2018 Exploration Program are to:

Complete the structural geology analysis of the F2 Gold Deposit - ACHIEVED
Potentially grow the mineral resources - ACHIEVED
Potentially improve the classification of the mineral resources - ACHIEVED
Potentially enhance and validate a new geological model and updated Mineral Resource Estimate with data from test mining, bulk sample processing and additional drilling - Test mining/Bulk sampling ACHIEVED; Block model reconciliation ONGOING
Deliver an updated NI 43-101 Mineral Resource Estimate in the second half of 2018 - ACHIEVED (earlier than planned)
Gather test mining data for a potential feasibility study of the Project. ONGOING

The activities and objectives outlined in the 2018 Exploration Program are subject to change depending upon observations and outcomes gathered from the exploration activities.