CEO Vision & Strategy

“We restarted activities at the Phoenix Gold Project with a goal to successfully complete a test trial mining and bulk sample processing program, and bring confidence to the 2018 Mineral Resource Estimate with positive reconciliation results. I am pleased to report that we achieved these key milestones. We believe the positive bulk sample reconciliation results validate the 2018 Mineral Resource Estimate and new geological model of the F2 Gold Deposit.” 

“With a validated 2018 Mineral Resource Estimate and geological model, we now have a strong foundation to continue to advance, grow, and de-risk the Phoenix Gold Project. Going forward, our intent is to closely evaluate the positive reconciliation results, and along with additional exploration data, assess the economic viability of the Phoenix Gold Project, particularly where we can utilize significant underground infrastructure to access modelled stopes. In addition, 2019 will see us turn our attention to our high-priority Close Proximity underground exploration targets, including the past-producing McFinley target, all within 500 m of the Phoenix Gold Project shaft. We will also initiate geophysics and geochemical work on several of our Regional Exploration targets.” 

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 

    • Advancing the Phoenix Gold Project to commercial production;
    • Growing organically  with exploration targets within 2 km of the Phoenix Gold Project; and
    • Exploring our vast Red Lake Properties land package.

Strategy for 2019:

  • Deliver an updated Mineral Resource Estimate, which will benefit from more than 20,000 m of oriented drilling conducted in 2017 and 2018 (first half of 2019);
  • Provide a Preliminary Economic Assessment (“PEA”), at a minimum, for the Phoenix Gold Project (mid-2019); 
  • Continue infill and step-out diamond drilling to upgrade the mineral resource categories and grow the overall mineral resources (throughout 2019);  
  • Commence basic exploratory work on high-priority Close Proximity and Regional Targets in Red Lake (throughout 2019); and
  • Continue to evaluate accretive business opportunities to deliver shareholder value (throughout 2019).