Gold79 Mines CEO Derek Macpherson said, “We're right at the finish line for those Jefferson Canyon permits.”
Gold79 Mines CEO: We very much believe in the potential of Gold79 is and how good our projects are.youtu.be
Gold79 Mines (TSXV:AUU) CEO Derek Macpherson joined the Investing News Network to discuss the company and its ongoing projects in Nevada and Arizona.
“We have the Tip Top project in Jefferson Canyon, Nevada and the Gold Chain project in Arizona," he said. "At Jefferson Canyon, we've been permitting towards our main drill program — they're following up on some really good historical results from the 1980s. At Gold Chain, we've actually been growing the land package. They've done some initial exploration, did a main drill program in the fall of last year, and then have done some follow up sampling. And there's some really good recent results from our Tyro mine project.”
In fall of 2021, Gold79 Mines signed a deal to acquire patented claims and began drilling mere days later based on preliminary work, comprising four holes that hit 2 grams per metric ton (g/t) at 20 meters. Macpherson says, “I think the impressive part is that 600 meters from that drilling we hit 2.5 g/t at 25 meters from a chip sampling across the vein underground. That’s really starting to demonstrate continuity of grade over a large area.”
Macpherson discussed the underground sampling at Tyro and Sheep Trail, which holds another set of patent claims that the company acquired earlier this year. He noted, “The focus with the Sheep Trail claims is we want to follow up on the preliminary data that we collected — we've also recently cleared some geophysics across the entire project. We’re going to couple those results with in-house samples to decide where the next set of drill targets are. I would expect that we will likely be drilling in fall 2022 at Gold Chain.”
As to the company’s approach to creating a property package, Macpherson said, “The reason is that it's that much harder. Instead, each of our projects have 100 plus drill holes in them — all of them have returned economic grades from that drilling, and some of them are very spectacular. Part of our logic and strategy behind building this land package is that we know there's gold mineralization underneath.”
With regards to the Gold Chain project and determining the location of resources, Macpherson noted, “We took these historic past producing mines, did some initial sampling work and mapping, and understand where they are. Now we're applying some additional modern techniques like geophysics to it — and that puts us in a great position to decide whether there is a deposit of scale there or not. By having this trove of historic data, we're reducing the risk for our investors on us making a discovery.”
As for next steps, Macpherson states that the priority is its Nevada project. “We're right at the finish line for those Jefferson Canyon permits and plan to drill this summer.” He also discussed the company's other priorities, including advancing Gold Chain, at which investors can “expect sampling results from Sheep Trail.”
Macpherson noted, “We’re moving ahead. We're in very good shape. And frankly, when we get those Jefferson permits, I think we're going to be in a good shape to drill. There's a real opportunity to get yourself positioned at the current share price. Myself and our CFO have been out in the market buying stock pretty steadily because we very much believe in what the potential of Gold79 is and how good our projects are.”
Watch the full interview of Gold79 Mines CEO Derek Macpherson above.
Disclaimer: This interview is sponsored by Gold79 Mines (TSXV:AUU). This interview provides information that was sourced by the Investing News Network (INN) and approved by Gold79 Mines in order to help investors learn more about the company. Gold79 Mines is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
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The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Gold79 Mines and seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.