Green River Gold CEO Perry Little talks about tapping into talc's US$3 billion annual market.
Green River Gold (CSE:CCR) has intercepted nickel sulfides at its wholly owned Quesnel nickel-cobalt-talc project in BC, Canada. Green River Gold CEO Perry Little shares the story of how the company is sitting on nickel and chromium swimming in a sea of talc.
A recently completed UAV-MAG survey over the Quesnel nickel-cobalt-talc project area indicates the presence of highly magnetic rocks coincident with the interpreted surface exposure and down-dip projection of a favorable ultramafic rock assemblage.
“We're actually able to get down 60 feet, which is just unbelievable, and it pulls up about a 1.4 inch drill core," Little said. "We drilled nine holes, and we thought to try to reprove what these fellows had proven in the '80s. Because as you know, the 43-101 rules came in and are quite a bit different. You can't just say, there's a hole and we've got a million ounces of gold. It's a little different now. So we thought we'd go in and try to reprove this."
Green River Gold intersected one of the drill holes from the '80s, and according to Little, the results were virtually identical to the ones produced back then. The survey shows talc right from the surface. He explained that by around 40 feet, there’s about 85 to 95 percent talc.
According to Little, the global talc market is worth around US$3 billion. In terms of usage in the US, 26 percent of talc goes into plastics, 17 percent into ceramics, 16 percent into paint and 16 percent into paper.
“We'll be going down 400 feet by early March," Little said. "Milled talc was priced at US$270 per tonne last year on average, and it really varies depending on the clarity, the lightness and the brightness. We've got a property that's a multi-commodity threat. And we've just literally scratched the surface of it.”
Watch the full interview of Green River Gold CEO Perry Little above.
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