Knick Exploration (TSXV:KNX) is focused on actively exploring its wholly-owned East-West Gold Property located in the Val d’Or mining camp of Quebec, Canada. The region is home to several multi-million ounce gold deposits, including the Kiena Mine (Wesdome Gold Mines, TSX:WDO) to the east of Knick’s project and the past producing Marban Mine (Osisko Mining, TSX:OSK) to the west of the project. To the south of the East-West property lies Agnico Eagle (TSX:AEM, NYSE:AEM) and Yamana Gold’s (TSX:YRI, NYSE:AUY) Canadian Malartic Mine. Agnico Eagle also recently acquired ground adjacent to the north of Knick’s property.
The East-West Property is in close proximity to three operating mills; Goldex, Canadian Malartic, Camflo, and three permitted mills on care and maintenance; Sigma, Beacon and Kiena. The mills are experiencing excess capacity, soon to be exacerbated by some regional operations reaching the end of their mine life. A nearby source of mill feed representing significantly lower transportation costs would be much more attractive than trucking in material from distant operations.
Five gold target zones have already been identified on the East-West property through both historical and recent exploration. The downward extent of these gold zones has yet to be tested below 200 meters of depth. Knick began its 2016-2017 drilling program at the property in October aimed at testing the resource potential of the West Zone. The company believes establishing solid proof of a resource on the project will add shareholder value by increasing the project’s attractiveness to those local mills experiencing excess capacity.
Knick is led by an experienced team of exploration specialists with in-depth knowledge of the geology associated with the Val d’Or mining camp. Jacques Brunelle, Knick President and CEO, has more than 35 years of experience in mining exploration, including as a founder and C-level executive at Niogold Mining which completed the majority of previous exploration on the Marban block located on ground now owned by Osisko Mining. Gordon Henriksen, Knick’s Vice President, is a geologist whose 30-year experience includes business dealings with Aurizon Mines and Niogold. Martin Demers is a 20-year veteran geologist who has worked for Aurizon Mines and now serves as a special advisor to Knick. He was handpicked to develop and conduct the ongoing drill program at the East-West property.
In 2016 Knick secured more than $2 million to be used for exploration work on the East-West property as well as working capital. The company is actively seeking a partner to further explore the property.
- 100-percent owned property in Quebec’s prolific Val d’Or Mining Camp.
- Surrounded by multi-million ounce deposits and large mining companies including Agnico Eagle, Yamana Gold, Wesdome, Osisko and Richmont Mining.
- Six mills in close proximity to project; excess mill capacity.
- High Grade intercepts including:
- 9.30 g/t gold over 1.95 meters, West zone;
- 11.38 g/t gold over 2.1 meters, Raven Zone
- 2016/2017 Exploration Program to determine grade continuity and geological model consistency.
- Highly experienced management team with significant knowledge of the region.