Advancing its Roger Mop-II Gold-Copper Deposit in Quebec’s Abitibi Mining District
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Enforcer Gold Corp. (TSXV:VEIN) is a junior mining exploration company earning a 50% interest in the Roger Gold-Copper Project and holds a 100% interest in the Waswanipi Gold Project, both located in Quebec, Canada. The province of Quebec consistently ranks as one of the world’s top ten mining investment jurisdictions.
Both projects are situated in the world-class Abitibi greenstone belt, which has produced more than 180 million ounces of gold and over 450 M tonnes of copper-zinc ore since the early 1900s.
- Favorable Location – Mining-friendly jurisdiction of Quebec; projects have road access and nearby infrastructure
- Advanced-staged Roger property hosts the bulk-tonnage Mop-II gold-copper deposit; July 2018 updated resource estimate of in-pit contained ounces:
- Indicated: 333,000 AuEq oz; 297,000 Au oz
- Inferred: 202,000 AuEq oz; 159,000 Au oz
- Well financed – $1.4 million in cash
- Significant upside – Market cap $3.9 million
- Tight share structure – Management, insiders and institutions hold 52%; notable strategic shareholders include US Global, Alpha North and Osisko Mining
Roger Gold-Copper Project
The 987-hectare Roger project, located 5 km from the historic mining center of Chibougamau, Quebec, has all-season road access and is crossed by a power line that serviced the past-producing Troilus Mine. To date, 58,000 m of diamond drilling have been completed and underground exploration undertaken in 1988 included 1,177 m of development and over 1,000 m of chip sampling.
Enforcer released an updated resource estimate for the bulk-tonnage Mop-II gold-copper deposit on September 18, 2018. The results, presented a marked increase in the size of the resource compared to the 2006 historical estimate and a very significant boost in confidence level with over 60% in the Indicated category.
Pit-Constrained Mineral Resource Estimate on the Mop-II Gold-Copper Deposit – July 4, 2018
Note: Details of the 2018 mineral resource estimate are provided in Enforcer Gold’s press release dated September 18, 2018. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
Mop-II Gold-Copper Deposit Resource Estimate Block Model
The new resource estimate is a significant milestone for Enforcer Gold and comes after investing in a 3,068 m drill program. Enforcer-SOQUEM completed Phase 1 drilling and updated resource estimate within 8 months of signing the option agreement.
Enforcer entered an option agreement with SOQUEM on January 11, 2018 to acquire a 50% interest in the Roger project by spending $2 million on work programs and issuing 1 million shares over a three-year period. Enforcer completed its first year $500,000 financial commitment by financing the Phase 1 diamond drilling program and resource study. The 3,068 m Phase 1 program was designed to validate certain historic drilling and determine if mineralization continued at depth. Results of the program exceeded expectations, intersecting very consistent mineralization throughout each hole and in most cases with grades and widths exceeding the historical results.
Based on the favourable results of the updated resource estimate, Enforcer is accelerating its earn-in phase of the option agreement by financing a Phase 2 diamond drilling program set to commence in September 2018. The Company is fully funded to cover the Phase 2 program which in turn will meet its year 2 spending obligation of $750,000.
Waswanipi Gold Project, Quebec
Enforcer holds a 100% interest in the Waswanipi gold project, a 19,352-hectare greenfield property located 230 km northeast of Val d’Or and 125 km due west of Chibougamau. Year-round access is provided via a network of logging roads and paved Route 113, which passes within 5 km of the property.
The land position covers a typical Abitibi greenstone belt sequence of deformed intermediate to mafic volcanics, felsic to mafic intrusive rocks and feldspar porphyry. According to government assessment files, exploration for gold in the area has been very limited. Based on the geology and limited exploration work, the project has the potential to host shear-hosted quartz-carbonate gold and felsic intrusive-hosted gold mineralization. Enforcer is planning a first-pass reconnaissance exploration program to identify priority targets for detailed follow up.
Steve Roebuck — President, CEO and Director
Steve Roebuck is a registered professional geoscientist with over 25 years of international mining and exploration experience. Most recently he was the President of Scorpio Gold Corp., a 40,000 oz/year gold producer with assets in Nevada. Mr. Roebuck has been the VP of Exploration for two publicly listed companies with interests in gold, diamonds, iron ore and base metals. Early in his career he worked as a mine and exploration geologist at Placer Dome’s Sigma Mine in Val d’Or, QC, Aur Resources’ Bachelor Lake Mine in Desmaraisville, QC, and Royal Oak Mines’ +8 million oz. Giant Mine in Yellowknife, NT.
Antoine Fournier, MSc, PGeo — VP Exploration
Antoine Fournier is a professional geologist with over 25 year’s exploration and corporate management experience. Most recently he oversaw the restructuring of Big North Graphite to CobalTech Mining and was part of management and board until Cobaltech’s subsequent takeover in December 2017 by First Cobalt. From 2014 to 2016, Antoine was chief geologist with Monarques Gold and played an instrumental role in redefining the company’s exploration activities and acquisition of its exploration assets in the Abitibi greenstone belt. Earlier in his career he assisted in the spin-off and creation of Threegold Resources and through 2012 was responsible for the acquisition of exploration assets, financings and exploration activities as part of management and board.
Fiona Fitzmaurice, BA, ACCA – CFO
Fiona Fitzmaurice is a chartered certified accountant with over 12 years experience in accounting and financial control. Most recently she was the financial controller for Noront Resources Ltd. and was involved in several private placements, prospectus filings, flow-through financings and corporate audits. Prior to joining Noront, Ms. Fitzmaurice acted as a senior accountant and controller for both private and publicly listed start-up companies. She holds a BA in accounting and finance from the Athlone Institute of Technology in Ireland.
Christian B. Scovenna — VP Corporate Development and Director
Christian Scovenna has over ten years of experience in capital markets, business development and investor relations. As Managing Director at a boutique firmMr. Scovenna lead six portfolio companies within the group, raising capital, business development and internal IR for the group. He also spent four years with Frontier Merchant Capital Group as Director & Senior VP of Operations and most recently as Managing Partner with Lions Edge Capital. Over the years, Mr. Scovenna has been successful in completing various M&A acquisitions and raising capital.
Steven Dunn —Director
Stephen Dunn is currently President, CEO and Director of Crown Mining Corp, a junior exploration company listed on the TSX Venture exchange. He founded Crown in 2007 and has also been a director of numerous other public companies. Prior to Crown, Mr. Dunn held portfolio management, sales and trading positions at a large Canadian insurance company, a Canadian Schedule A bank, and two Canadian investment dealers. He has earned a BA in Economics and an MBA from the University of Western Ontario.
John Scott — Community Relations Advisor
John Scott played for 8 seasons in the National Hockey League and was voted MVP in the 2016 All-Star game. Prior to his professional hockey career, Mr. Scott received a BSc in Mechanical Engineering from the Michigan Technological University in 2005.
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