
February 04, 2025
Juggernaut Exploration Ltd (JUGR.V) (OTCQB: JUGRF) (FSE: 4JE) (the “Company” or “Juggernaut”) is pleased to announce that it has the option to earn 100 % interest in the Big One property (the “Property”) from the B-ALL Syndicate Ltd. The Big One Property is a new discovery with assays up to 79.01 g/t gold (2.54 oz/t gold) and 3157.89 g/t silver (101.5 oz/t silver) from >200 gold-silver-copper rich polymetallic veins up to 8 m wide and striking for up to 500 m that remain open. These veins were identified along the newly discovered 11 km Highway of Gold surrounding the Eldorado porphyry system on the Big One property. The discovery is located in an area of glacial and snowpack abatement adjacent to the world-class gold-rich porphyry systems at Galore Creek. The property covers 33,693 hectares in world-class geologic terrane with tremendous additional discovery potential in the heart of the Golden Triangle, British Columbia. The Big One property was generated, staked and the original discovery was made by the B-ALL Syndicate.
Dan Stuart, President and CEO of Juggernaut Exploration, states, “We are excited to have been selected as the vehicle to explore, drill, and develop this exciting discovery home to the 11 km Highway of Gold, where over 200 high-grade gold-silver polymetallic veins up to 8 m thick and exposed on surface for over 500 m have assayed up to 79.01 g/t gold (2.54 oz/t gold) and 3157.89 g/t silver (101.5 oz/t silver) and remain open. Even more exciting is the fact that the mineralization observed on the surface is indicative of a much larger precious and base metal porphyry system or systems at depth. To have 100 % control over a district-scale property of this caliber located in world-class geologic terrane in close proximity to a Tier 1 deposit the likes of Galore Creek is a once-in-a-lifetime opportunity. With ~95 % of the Big One property remaining unexplored and hosting vast areas of newly exposed outcrop due to glacial and snowpack retreat, it provides for excellent additional long-term discovery potential. The Big One discovery has already garnered serious interest from multiple miners and institutions alike. The company looks forward to the maiden drill program, which could very quickly evolve into a world-class gold discovery.”
ELDORADO PORPHRYRY SYSTEM / 11 KM HIGHWAY OF GOLD HIGHLIGHTS
- Whopper vein: grab samples from 5 m wide quartz-sulphide vein hosted in an 8 m wide mineralized shear zone returned 16.04 g/t AuEq (13.12 g/t Au, 169.88 g/t Ag, 0.51 % Cu, 1.65 % Pb, 0.42 % Zn) as well as 13.10 g/t AuEq (10.62 g/t Au, 206.32 g/t Ag, 0.01 % Cu, 0.77 % Zn, 0.01 % Pb) and 7.42 g/t AuEq (6.01 g/t Au, 121.97 g/t Ag, 0.01 % Cu, 0.06 % Pb, 0.09 % Zn). The Whopper vein is exposed on surface for 100 m and remains open along strike where it goes under snowpack and ice. The quartz vein consists of lenses and seams of massive pyrite and galena contained in the quartz vein and stockwork. The high-grade Whopper vein geochemical and geophysical signatures are indicative of a porphyry source at depth. This target is drill ready.Big One Whopper Image 1Big One Whopper Image 2, Big One Whopper Image 3,Big One Whopper Image 4, Big One Whopper Video
- Big Mac Vein: Grab sample from a quartz-sulphide vein hosted in a 4 m wide shear zone that contains stringers of semi-massive galena as well as clots of chalcopyrite and pyrite assayed 41.46 g/t AuEq (37.98 g/t Au, 70.37 g/t Ag, 0.24 % Cu, 5.72 % Pb, 3.93 % Zn), as well as 10.67 g/t AuEq (10.61 g/t Au, 3.55 g/t Ag, 0.01 % Cu, 0.01 % Pb, 0.01 % Zn). The Big Mac vein is exposed for 50 m where it goes under overburden/ice and remains open. The Big Mac vein’s geochemical signature is conducive for a porphyry source that is also indicated by geophysical anomalies at depth. This target is drill ready. Big One Big Mac ImageBig One Big Mac Video
- Giant Vein: Channel sample across 1.5 m quartz vein with lenses and stringers of semi-massive to massive chalcopyrite and pyrite returned 6.10 g/t AuEq (5.06 g/t Au, 91.41 g/t Ag, 0.01 % Cu, 0.05 % Pb, 0.03 % Zn). The vein extends vertically for 30 m and remains open within a large gossanous area 100 m wide. The Giant vein’s geochemical signature is conducive for a porphyry source that is also indicated by geophysical anomalies at depth. This target is drill ready. Big One Giant Image
- Deluxe Vein: Channel sample across a 45 cm vein containing semi-massive galena and pyrite assayed 37.20 g/t AuEq (12.12 g/t Au, 2084.61 g/t Ag, 0.02 % Cu, 8.04 % Pb, 0.01 % Zn) as well as 7.68 g/t AuEq (3.39 g/t Au, 380.15 g/t Ag, 0.01 % Cu, 0.11 % Pb, 0.01 % Zn). The vein is up to 2 m wide and has been traced along strike for 150 m and remains open. The Deluxe vein has a geophysical anomaly at depth that is conducive for a porphyry source. This target is drill ready. Big One_Deluxe ImageBig One Deluxe Video
- Double Decker: Grab sample from a set of intersecting quartz-sulphide veins up to 50 cm wide and exposed for 60 m returned 22.04 g/t AuEq (19.82 g/t Au, 216.65 g/t Ag). The veins contain seams of semi-massive galena and pyrite and remain open. The Double Decker vein has a geophysical anomaly at depth that is conducive for a porphyry source. This target is drill ready. Big One DoubleDecker
- Eldorado consists of a high-grade polymetallic gold-silver zone named Highway of Gold that stretches 11 km and remains open on newly exposed bedrock along the fringes of the Geology Ridge icefield and Decker Creek glacier
- Eldorado demarks an area of 7.5 Km of recently exposed bedrock containing substantial propylitic alteration, hydrothermal veining, and epithermal veining with 200 quartz-sulphide veins up to 8 m wide containing semi-massive to massive chalcopyrite, sphalerite and galena with grades up to 79.01 g/t Au (2.54 oz/t Au) and 3157 g/t Ag (101.5 oz/t Ag), that remains open
- The polymetallic veins, alteration signature, geochemical path finder element signature, and geophysical anomalies strongly indicate the presence of a common buried gold-silver-copper rich porphyry feeder source at depth responsible for the extensive high-grade veining confirmed on surface
- The newly exposed Eldorado system contains 200 veins over an area of 1.2 km by 800 m that remains open. Within this zone, veins up to 8 m wide and striking up to 500 m were observed (Whopper vein), containing semi-massive to massive chalcopyrite, sphalerite and galena, indicated to be the source of historic high-grade gold-silver angular float samples reported in the 1960s in the valley below. Both the zone and the system remain open and are drill ready.
- At least two extensive areas with strong porphyry potential have been identified where the distribution of geochemical path finder elements overlaps with strong geophysical anomalies as well as multiple gold-rich polymetallic veins in outcrop and clearly corresponds to the typical signature observed within or in close proximity to a porphyry system.Big One Geochemistry Maps
The results from the August 2024 reconnaissance exploration program on the Big One property confirmed the excellent untapped exploration potential of the area with the discovery of the extensive high-grade Eldorado gold-silver-copper system found along the 11 km Highway of Gold in newly exposed outcrop around the fringes of the snowfields/glaciers. The Eldorado discovery is bordered by an extensive zone of propylitic alteration halo covering an area of 4 km by 1 km and porphyry textures in outcrop, which, coupled with buried geophysical anomalies and strong geochemical pathfinder element signatures, strongly indicates the presence of a large mineralizing (porphyry) system or systems at depth indicated to be the origin of the extensive high-grade gold, silver and copper mineralization confirmed in veins on surface that remains open.
The Big One property covers 33,693 hectares of world-class geologic terrain in the heart of the Golden Triangle of British Columbia, Canada. The property is largely unexplored, and only recently, due to ongoing rapid glacial and snowpack abatement, has an opportunity been provided to explore extensive areas of the newly exposed outcrop, which has strong potential for discovery today and into the future.
The Eldorado system is indicated to be the source of angular float samples with grades up to 16.9 g/t Au and 49 g/t Ag, discovered in the early 1960s. Eldorado corresponds to the location of the source that was suggested by renowned geologist and glaciation expert Dr. Richard E Kucera in 1990 to the west of the boulder field at an elevation of >4700 ft, which at the time was covered by permanent snow and ice. Big One Float Zone
We have only started to scratch the property's surface and have likely only seen the tip of the iceberg. A number of mineralized occurrences, including porphyry and extensive high-grade polymetallic veins, were discovered on the Big One property, clearly demonstrating the enormous untapped potential of this area, which could quickly evolve into a new world-class discovery.
Table 1: Assay highlights from the Big One property
Sample ID | Sample Type | Au (g/t) | Ag (g/t) | Cu (%) | Pb (%) | Zn (%) | AuEq (g/t) |
D751282 | Grab | 79.01 | 53.49 | 0.13 | 0.43 | 0.80 | 80.08 |
D751966 | Grab | 56.54 | 23.40 | 0.03 | 0.02 | 0.03 | 56.84 |
D751216 | Grab | 37.98 | 70.37 | 0.24 | 5.72 | 3.93 | 41.46 |
D751164 | Grab | 2.03 | 3157.89 | 0.38 | 2.04 | 0.31 | 38.28 |
D751191 | Channel | 12.12 | 2084.61 | 0.02 | 8.04 | 0.00 | 37.20 |
D751156 | Grab | 33.72 | 128.83 | 0.27 | 2.71 | 0.27 | 36.11 |
D751964 | Talus | 23.47 | 105.31 | 1.37 | 0.01 | 0.00 | 26.07 |
D750389 | Grab | 8.10 | 1421.50 | 1.11 | 0.15 | 2.70 | 26.01 |
D751163 | Float | 23.97 | 2.75 | 0.02 | 2.16 | 0.13 | 24.53 |
D751209 | Grab | 19.82 | 216.65 | 0.00 | 0.00 | 0.00 | 22.24 |
D750394 | Grab | 13.12 | 169.88 | 0.51 | 1.65 | 0.42 | 16.04 |
D751285 | Grab | 3.74 | 101.58 | 7.96 | 0.01 | 0.01 | 13.18 |
D751975 | Grab | 10.62 | 206.32 | 0.00 | 0.77 | 0.01 | 13.10 |
D750192 | Grab | 3.44 | 230.39 | 6.61 | 0.00 | 0.01 | 12.91 |
D751943 | Grab | 4.00 | 99.85 | 0.30 | 15.35 | 8.35 | 11.32 |
D750198 | Float | 6.01 | 32.31 | 0.14 | 0.04 | 15.30 | 11.21 |
D750608 | Grab | 10.62 | 3.55 | 0.00 | 0.01 | 0.01 | 10.67 |
D751154 | Grab | 5.72 | 219.32 | 0.22 | 1.81 | 1.34 | 9.20 |
D751969 | Float | 5.59 | 187.89 | 0.40 | 1.91 | 0.98 | 8.82 |
D751284 | Float | 6.34 | 56.05 | 0.03 | 6.78 | 0.59 | 8.66 |
D751151 | Float | 2.79 | 95.04 | 0.01 | 20.00 | 1.22 | 8.59 |
D751192 | Channel | 3.39 | 380.15 | 0.01 | 0.11 | 0.00 | 7.68 |
D751104 | Float | 3.79 | 187.22 | 0.30 | 4.60 | 1.12 | 7.54 |
D750395 | Grab | 6.01 | 121.97 | 0.01 | 0.06 | 0.09 | 7.42 |
D751939 | Channel | 5.06 | 91.41 | 0.00 | 0.05 | 0.03 | 6.10 |
D751107 | Float | 4.09 | 74.75 | 0.22 | 1.20 | 0.95 | 5.71 |
D751112 | Float | 4.94 | 60.63 | 0.00 | 0.31 | 0.02 | 5.70 |
D751158 | Grab | 4.60 | 33.15 | 0.04 | 1.36 | 0.02 | 5.31 |
D750657 | Grab | 3.71 | 41.29 | 0.76 | 0.01 | 0.02 | 4.98 |
D751215 | Grab | 2.96 | 105.47 | 0.04 | 0.04 | 2.15 | 4.84 |
D750094 | Grab | 0.02 | 100.05 | 1.01 | 0.06 | 8.60 | 4.83 |
D750656 | Grab | 1.56 | 100.27 | 0.06 | 7.88 | 0.25 | 4.53 |
D750088 | Grab | 0.16 | 166.59 | 0.04 | 7.63 | 1.50 | 4.18 |
D750664 | Float | 0.46 | 224.12 | 0.02 | 4.51 | 0.08 | 3.99 |
D751697 | Grab | 0.09 | 97.20 | 2.35 | 0.01 | 0.07 | 3.65 |
D751283 | Float | 0.26 | 14.00 | 3.02 | 0.00 | 0.00 | 3.57 |
D751946 | Grab | 0.02 | 125.23 | 0.72 | 0.18 | 4.35 | 3.54 |
D751699 | Grab | 2.15 | 67.96 | 0.01 | 2.63 | 0.06 | 3.51 |
D751195 | Channel | 1.61 | 36.67 | 0.82 | 1.27 | 0.71 | 3.37 |
D750554 | Channel | 0.05 | 80.48 | 0.35 | 1.05 | 5.34 | 3.17 |
D750199 | Grab | 0.15 | 113.29 | 0.01 | 7.73 | 0.05 | 3.13 |
D751836 | Chip | 0.22 | 98.74 | 0.00 | 5.21 | 1.59 | 2.95 |
D751845 | Chip | 2.63 | 27.78 | 0.00 | 0.01 | 0.00 | 2.95 |
D751972 | Channel | 1.42 | 44.82 | 0.03 | 3.43 | 0.68 | 2.90 |
D751846 | Grab | 2.59 | 24.90 | 0.01 | 0.00 | 0.00 | 2.87 |
D751207 | Grab | 0.04 | 3.30 | 0.01 | 12.65 | 0.01 | 2.85 |
D751109 | Grab | 1.65 | 86.36 | 0.10 | 0.01 | 0.03 | 2.73 |
D751962 | Grab | 0.55 | 86.59 | 0.26 | 1.17 | 1.98 | 2.65 |
D751968 | Grab | 1.49 | 58.18 | 0.01 | 1.68 | 0.13 | 2.55 |
D751153 | Grab | 0.83 | 82.95 | 0.38 | 0.08 | 1.16 | 2.52 |
D751213 | Float | 1.65 | 59.19 | 0.02 | 0.31 | 0.02 | 2.41 |
D751992 | Grab | 0.33 | 100.07 | 0.03 | 3.27 | 0.06 | 2.21 |
D750448 | Grab | 0.42 | 65.04 | 0.03 | 4.57 | 0.09 | 2.20 |
D750086 | Channel | 0.17 | 16.43 | 0.12 | 1.11 | 4.70 | 2.16 |
D751947 | Grab | 0.01 | 68.75 | 0.48 | 0.09 | 2.81 | 2.16 |
D750555 | Channel | 0.05 | 68.88 | 0.17 | 1.03 | 2.65 | 2.03 |
D751165 | Grab | 1.95 | 2.75 | 0.00 | 0.01 | 0.01 | 1.99 |
D750393 | Grab | 1.01 | 38.49 | 0.02 | 1.79 | 0.37 | 1.97 |
D750449 | Grab | 0.24 | 27.68 | 0.01 | 6.38 | 0.02 | 1.96 |
D751194 | Grab | 0.44 | 110.84 | 0.01 | 0.08 | 0.09 | 1.74 |
D750197 | Grab | 0.10 | 95.55 | 0.02 | 1.43 | 0.53 | 1.66 |
D750195 | Grab | 0.33 | 15.65 | 0.07 | 2.21 | 1.77 | 1.60 |
D750083 | Channel | 0.81 | 32.15 | 0.01 | 1.63 | 0.12 | 1.57 |
D751251 | Grab | 1.27 | 12.39 | 0.11 | 0.02 | 0.02 | 1.53 |
D750552 | Channel | 0.02 | 32.45 | 0.24 | 0.04 | 2.82 | 1.51 |
D751948 | Grab | 0.11 | 53.19 | 0.01 | 3.48 | 0.07 | 1.49 |
D751993 | Grab | 1.20 | 10.66 | 0.03 | 0.35 | 0.17 | 1.48 |
D751116 | Grab | 1.27 | 14.42 | 0.00 | 0.01 | 0.01 | 1.44 |
D750553 | Channel | 0.02 | 25.81 | 0.22 | 0.06 | 2.82 | 1.42 |
D751115 | Grab | 0.05 | 44.66 | 0.02 | 0.95 | 2.03 | 1.40 |
D750607 | Grab | 0.68 | 44.82 | 0.00 | 0.75 | 0.03 | 1.36 |
D751941 | Grab | 0.35 | 28.01 | 0.06 | 0.64 | 1.54 | 1.34 |
D750095 | Channel | 0.06 | 50.63 | 0.07 | 1.56 | 0.93 | 1.32 |
D750093 | Channel | 0.02 | 43.65 | 0.15 | 0.65 | 1.65 | 1.31 |
D751159 | Grab | 0.54 | 28.12 | 0.03 | 1.93 | 0.03 | 1.31 |
D751599 | Float | 0.05 | 71.52 | 0.02 | 1.54 | 0.23 | 1.27 |
D750091 | Channel | 0.02 | 52.72 | 0.13 | 0.07 | 1.40 | 1.18 |
D751193 | Grab | 0.44 | 20.10 | 0.48 | 0.01 | 0.01 | 1.17 |
D750087 | Channel | 0.14 | 36.37 | 0.00 | 1.49 | 0.91 | 1.15 |
D751945 | Grab | 0.02 | 29.84 | 0.08 | 1.53 | 1.17 | 1.13 |
D751835 | Chip | 0.12 | 24.61 | 0.05 | 1.76 | 0.75 | 1.05 |
The Big One property is situated in a region that is well known for hosting world-class precious metal and porphyry deposits, several of which occur near the property including the multiple porphyry systems at Galore Creek (12,159 million pounds of copper, 9.438 million ounces of gold, 174.086 million ounces of silver), the world’s largest known gold reserve at KSM (47.3 million ounces of gold, 160 million ounces of silver, 7.32 billion pounds of copper) and the polymetallic copper project at Shaft Creek (5 billion pounds of copper, 3.7 million ounces of gold, 16.4 million ounces of silver), as well as the Brucejack high-grade epithermal gold deposit (14 million ounces of gold, 91.8 million ounces of silver), and the structurally controlled high-grade hydrothermal gold-silver zones at Trophy and Sphal Creek. The property geology is favorable to host these types of deposits as confirmed by the presence of extensive areas of propylitic alteration, untested geophysical anomalies, strong silt, soil and rock geochemistry, including path finder elements directly related to porphyry systems, key structures and textures, porphyry-style mineralization, and high-grade polymetallic veins, that have been discovered within the Big One claims. Big One Property Map
The Big One property can be accessed year-round via helicopter from the Glenora/Telegraph Creek Road at the Barrington Mine (33 km to the north-northeast) and the Galore Creek Road (15 km to the southeast). The Canadian government committed $20 M to extend/improve the Galore Creek Road within 15 km of the Big One property. The property is only 2 km west of the Scud River airstrip used in the early days of Galore Creek.
The Big One property exploration qualifies for the Critical Mineral Exploration Tax Credit (CMETC).
About the B-ALL Syndicate
The B-ALL Syndicate is a highly specialized geologic team of project generators with a proven track record of success. The Syndicate is focused on unexplored areas of glacial and snowpack retreat, providing new opportunities for material discovery in world-class geologic terrain. The B-ALL Syndicate is on track with discovery as demonstrated with Big One and other properties generated by the J2 Syndicate that were subsequently optioned out resulting in the material Surebet discovery with Goliath Resources. The B-ALL Syndicate team consists of many of the same J2 Syndicate members who have played key roles from inception in the exploration teams for both Goliath Resources and Juggernaut Exploration and are responsible for multiple discoveries. Juggernaut Exploration has a significant interest in the B-ALL Syndicate.
Big One option
All payments are optional. Subject to receipt of all regulatory approvals, Juggernaut will commit to issuing 18,000,000 units on or before April 2nd, 2027; the units will have a 5-year warrant issued at market price on April 2nd, 2027, to earn 49%. Juggernaut can elect to pay an additional 18,000,000 units on or before April 2nd, 2033; the units will have a 5-year warrant issued at market price to earn 80% of the Bigone property. Juggernaut can earn an additional 20% interest in the Property (for a 100% interest ) by delivering to the B-All Syndicate, by April 2, 2034, a NI 43-101 technical report which includes an inferred resource calculation of gold equivalent mineral ounces of all minerals on the Property in the aggregate; within six months of the delivery of the NI 43-101 report pay to the B-All Syndicate USD $1 million plus USD $1 for every gold equivalent ounce outlined in the NI 43-101 technical report. Juggernaut will be required to produce an updated NI 43-101 technical report on the Property every thirty-six (36) months commencing April 2, 2034. Juggernaut will pay the B-All Syndicate a cash bonus of USD $1 for every additional gold equivalent ounce of gold in the inferred mineral resource category outlined by each NI 43-101 technical report produced on the Bigone Property. A royalty (“Royalty”) of 3% of net smelter returns (“NSR”) and other returns from all production from the Property will be payable to the B-All Syndicate, in cash or in-kind (i.e., gold and other Minerals produced from the Property) at the option of the B-All Syndicate. Juggernaut will have the right and option to reduce the Royalty on Juggernaut’s interest in the Property from 3% to 2.5% by paying US$1,500,000 to the B-All Syndicate not later than April 2, 2032.
About CASERM (Center To Advance The Science Of Exploration To Reclamation In Mining)
Juggernaut is a paying member and active supporter of CASERM, an organization that represents a collaborative venture between the Colorado School of Mines and Virginia Tech aimed at transforming the way that geoscience data is used in the mineral resource industry. Research focuses on the integration of diverse geoscience data to improve decision-making across the mine life cycle, beginning with the exploration for subsurface resources and continuing through mine operation as well as closure and environmental remediation.
Qualified Person
Tyler Punk, P. Geo is the qualified person, as defined by National Instrument 43-101, for Juggernaut Exploration projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release.
About Juggernaut Exploration Ltd.
Juggernaut Exploration Ltd. is an explorer and generator of precious metals projects in the prolific Golden Triangle of northwestern British Columbia. Its projects are in world-class geological settings and geopolitical safe jurisdictions amenable to mining in Canada. Juggernaut is a member and active supporter of CASERM, an organization representing a collaborative venture between the Colorado School of Mines and Virginia Tech. Juggernaut’s key strategic cornerstone shareholder is Crescat Capital.
For more information, please contact:
Dan Stuart
President, Director, and Chief Executive Officer
604-559-8028
info@juggernautexploration.com
Other
Grab, channels, chip and talus samples were collected by foot with helicopter assistance. Prospective areas included, but were not limited to, proximity to MINFile locations, placer creek occurrences, regional soil anomalies, and potential gossans based on high-resolution satellite imagery. The rock grab and chip samples were extracted using a rock hammer, or hammer and chisel to expose fresh surfaces and to liberate a sample of anywhere between 0.5 to 5.0 kilograms. All sample sites were flagged with biodegradable flagging tape and marked with the sample number. All sample sites were recorded using hand-held GPS units (accuracy 3-10 meters) and sample ID, easting, northing, elevation, type of sample (outcrop, subcrop, float, talus, chip, grab, etc.) and a description of the rock were recorded on all-weather paper. Samples were then inserted in a clean plastic bag with a sample tag for transport and shipping to the geochemistry lab. QA/QC samples including blanks, standards, and duplicate samples were inserted regularly into the sample sequence at a rate of 10%.
All samples are transported in rice bags sealed with numbered security tags. A transport company takes them from the core shack to the Paragon Geochemical labs facilities in Surrey, BC or ALS labs facilities in North Vancouver, BC. Paragon Geochemical is certified with both AC89-IAS and ISO/IEC Standard 17025:2017. ALS is either certified to ISO 9001:2008 or accredited to ISO 17025:2005 in all of its locations. Samples submitted to Paragon received gold and silver analysis by photon assay whereby the entire sample is crushed to approximately 70% passing 2 mm mesh. The entire crushed sample is riffle split and weighed into multiple (300-500g) jars that are submitted for photon assay. Photon assay uses high-energy X-rays (photons) to excite atomic nuclei within the jarred samples, causing them to emit secondary gamma rays, which are measured to identify and quantify the metals present. The assays from all jars are combined on a weight-averaged basis. At ALS samples were processed, dried, crushed, and pulverized before analysis using the ME-MS61 and Au-SCR21 methods. For the ME-MS61 method, a prepared sample is digested with perchloric, nitric, hydrofluoric, and hydrochloric acids. The residue is topped up with dilute hydrochloric acid and analyzed by inductively coupled plasma atomic emission spectrometry. Overlimits were re-analyzed using the ME-OG62 and Ag-GRA21 methods (gravimetric finish). For Au-SCR21 a large volume of sample is needed (typically 1-3kg). The sample is crushed and screened (usually to -106 micron) to separate coarse gold particles from fine material. After screening, two aliquots of the fine fraction are analysed using the traditional fire assay method. The fine fraction is expected to be reasonably homogenous and well represented by the duplicate analyses. The entire coarse fraction is assayed to determine the contribution of the coarse gold.
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FORWARD LOOKING STATEMENT
Certain disclosure in this release may constitute forward-looking statements that are subject to numerous risks and uncertainties relating to Juggernaut’s operations that may cause future results to differ materially from those expressed or implied by those forward-looking statements, including its ability to complete the contemplated private placement. Readers are cautioned not to place undue reliance on these statements.
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The Conversation (0)
10 June
Juggernaut Exploration
Investor Insight
Juggernaut Exploration is an early-stage explorer and project generator with a compelling investment story, focused on unlocking high-grade precious and base metal discoveries in the prolific Golden Triangle of northwestern British Columbia.
Overview
Juggernaut Exploration(TSXV:JUGR,OTCQB:JUGRF,FSE:4JE) is a precious metals explorer focused on northwestern British Columbia’s Golden Triangle, a globally recognized district for world-class porphyry, VMS and high-grade gold systems. The company operates in a geopolitically stable jurisdiction with excellent infrastructure, adjacent to Newmont’s Galore Creek project and in proximity to major road and airstrip developments.
The company controls three 100 percent owned projects – Big One, Midas and Bingo – totaling nearly 60,000 hectares in the heart of British Columbia’s most prolific mineral belt.
The company’s current strategy focuses on aggressive exploration at its flagship Big One project, where the rapid abatement of glacial cover led to the discovery of over 200 mineralized veins in a matter of days. The scale of the system, coupled with strong geophysical and geochemical signatures, points to a significant buried porphyry system.
Backed by world-renowned geologist Dr. Quinton Hennigh, Juggernaut is founded by the team behind Goliath Resources, which returned 2,400 percent to early investors in just 20 months.
Company Highlights
- The Big One property has uncovered an 11-km gold-rich porphyry system, described as a “highway of gold,” adjacent to Newmont’s $100 billion Galore Creek project.
- Founded by the team behind Goliath Resources, which returned 2,400 percent to early investors in just 20 months. Juggernaut is supported by world-renowned geologist Dr. Quinton Hennigh.
- Crescat Capital is a cornerstone investor, holding a 19.99 percent stake and providing both financial and technical backing.
- The company controls three 100 percent owned projects – Big One, Midas and Bingo – totaling nearly 60,000 hectares in the heart of the Golden Triangle in British Columbia.
- With $11.5 million recently raised, the 2025 field season is fully funded. The upcoming campaign aims to scale and define the scope of the porphyry system discovered in just five days of boots-on-the-ground work.
- Over 70 percent of the company’s shares are held by management, insiders and accredited investors. The company is debt-free.
Key Projects
Big One
The Big One project is Juggernaut’s flagship asset and the focus of its 2025 exploration campaign. Located in the heart of British Columbia’s Golden Triangle, the property spans 36,989 hectares of world-class geological terrain, 95 percent of which remains unexplored.
The project benefits from rapid glacial and snowpack abatement, which has recently exposed a vast mineralized system previously hidden under ice. This includes the newly identified Eldorado porphyry system, a high-grade, multi-kilometer corridor with grades reaching up to 79.01 grams per ton (g/t) gold and 3,157 g/t silver. More than 200 quartz-sulphide veins, containing semi-massive to massive chalcopyrite, sphalerite and galena, have been identified within a 4 km x 1 km alteration footprint, with coincident geophysical anomalies suggesting the presence of a large, buried mineralizing system at depth.
Drill-ready targets include the Whopper Vein (16.04 g/t gold equivalent over 8 meters, >200 m strike length) and the Big Mac Vein (41.46 g/t gold equivalent over 4 m), both of which are planned for drill testing in 2025.
The Big One project qualifies for the Critical Mineral Exploration Tax Credit and is strategically located adjacent to key infrastructure, including the Scud airstrip and a new $45 million government-funded road within 12 km of the site.
Midas
The Midas property covers 20,803 hectares in a geologically favorable setting for volcanogenic massive sulphide (VHMS) deposits, particularly those resembling the high-grade Eskay Creek system. Drilling at the Kokomo zone has intercepted significant VHMS-style mineralization, including standout results such as 8.27 g/t gold equivalent over 11.03 meters (MD-24-47) and 6.85 g/t gold over 9 meters (MD-18-08). The mineralized zone remains open to the north, and the company plans to step out aggressively with additional drilling.
Midas is considered a strong near-term value generator with potential for scale through further discovery.
Bingo
The Bingo property, although smaller in footprint at 1,008 hectares, is located in a structurally favorable setting for shear-hosted gold systems. The project features a 700-meter x 400-meter mineralized zone characterized by consistent sulphide mineralization. Sampling has confirmed an average mineralized width of 7 meters with grades averaging 5.67 g/t gold equivalent. The presence of strong K-spar alteration in the northeast quadrant of the property suggests proximity to a porphyry feeder system, making Bingo a compelling target for both high-grade, shear-hosted and porphyry-style exploration.
Management Team
Dan Stuart – President, CEO & Director
Dan Stuart has over 30 years of experience in capital markets, having raised more than $500 million for natural resource companies. He is a founding member and financier of several private mineral syndicates, including the J2 Syndicate behind Goliath Resources. Stuart is known for his investor acumen and has established strong institutional relationships in North America, Europe, Asia and the Middle East. Under his leadership, Juggernaut secured cornerstone funding from Crescat Capital and Dr. Quinton Hennigh while simultaneously building a platform for rapid discovery-driven growth.
Jim McCrea – Director
Jim McCrea brings 25 years of exploration and resource estimation experience. Notably, he worked on orebody modeling and resource estimation at Cumberland Resources, which was acquired by Agnico Eagle for $710 million. His deep expertise in geology and modeling helps guide exploration targeting and resource development.
William Jung – Director & CFO
A former chartered accountant with over 35 years of experience in finance, William Jung has managed several publicly listed companies on the TSX. His oversight ensures financial discipline, compliance and strategic capital allocation.
Peter Bryant – Director
Peter Bryant is a seasoned international investment banker with 45 years of experience, including senior roles at Standard Chartered Group, Hill Samuel Group and Guinness Mahon Holdings in London. His presence brings strong governance and capital markets insights to the board.
Chris Verrico – Director
Chris Verrico has over two decades of experience managing mineral exploration and infrastructure projects in remote northern regions, including British Columbia, Yukon and Nunavut. His knowledge of field operations and community engagement is critical to project execution.
Bill Chornobay – Program Manager
Bill Chornobay has over 30 years of experience in mineral exploration and has been directly involved in discoveries resulting in more than $1 billion in value. He played a pivotal role in the Surebet discovery for Goliath Resources and now leads on-ground execution at Juggernaut.
Dr. Quinton Hennigh – Technical Advisor
A globally respected exploration geologist, Dr. Quinton Hennigh has over 30 years of experience with major mining companies, including Homestake, Newcrest and Newmont. He is currently the chairman of Novo Resources and serves as a technical advisor to Crescat Capital. His guidance has helped validate and shape the exploration strategy at Juggernaut.
Dr. Manuele Lazzarotto – Senior Consulting Geologist
Dr. Manuele Lazzarotto has eight years of experience advancing early-stage exploration projects into defined resources, particularly in VMS and gold systems. He played a critical technical role in the Surebet discovery and brings valuable geological and structural insight to Juggernaut’s targeting approach.
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Advancing high-grade precious metals assets in northern BC’s Golden Triangle
2h
Danielle DiMartino Booth: Fed's Next Move as Dissent Builds, Where to Focus Now
Danielle DiMartino Booth breaks down the latest US consumer and producer price index data, saying it's important for investors to pay close attention to the American consumer.
The CEO and chief strategist at QI Research also discusses dissent at the US Federal Reserve, and how many times the central bank may cut interest rates in 2025.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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2h
1911 Gold
Investor Insight
1911 Gold Corporation offers a unique opportunity for investors seeking exposure to high-grade gold assets with near-term production potential, a fully permitted infrastructure, and significant exploration upside in a world-class mining jurisdiction.
Overview
1911 Gold Corporation (TSXV:AUMB,OTCQX:AUMBF) is a junior mining company focused on the exploration and development of gold resources in Manitoba, Canada. The company holds a dominant, 61,647-hectare land position in the Rice Lake greenstone belt in Manitoba, an underexplored western extension of the prolific Red Lake gold district.
The company’s strategy is focused on de-risking the existing underground mine geology, expanding its mineral resource base through exploration, and advancing towards production on an accelerated time line by leveraging the existing infrastructure in place.Gold remains a resilient safe-haven, with demand fueled by economic uncertainty and geopolitical risk. 1911 Gold is positioned to capitalize on permitted infrastructure, a large land package, defined resources, and near-term production potential.
In July 2025, 1911 Gold closed a C$13.2 million bought-deal LIFE offering, with notable increased investment from renowned resource investor Eric Sprott. Through the financing, Sprott acquired over 9.2 million shares for C$1.86 million, increasing its stake in the company from approximately 16.7 percent to 17.2 percent. His continued backing underscores confidence in 1911 Gold’s assets and growth potential.
1911 Gold’s leadership team brings deep experience across exploration, mine development, corporate finance, and strategic planning. This collective expertise enables the company to navigate complex operational and financial challenges, positioning it as a strong contender in the junior mining sector.
Company Highlights
- Fully Permitted Mill Infrastructure: A 1,300 tpd gold processing plant, expandable to 2,250 tpd, with a replacement value exceeding US$300 million.
- 1.1M oz Gold Resource Open for Growth: Current resources total 1.1 million ounces alongside 2 million ounces of historic production, with strong potential for expansion within the existing mine footprint.
- Prospective Regional Land Package: The company holds 100 percent ownership of 62,000 hectares in a prolific greenstone belt, including three past-producing mines and nearby additional resources.
- Compelling Investment Opportunity: With no royalties or debt, the project offers significant upside, peer-leading value, and strong re-rating potential from near-term catalysts.
- Leadership: Seasoned management and board with a proven track record of advancing mining projects.
Key Projects
True North Project
The True North project is 1911 Gold's flagship asset, located in the Rice Lake greenstone belt of southeastern Manitoba, approximately 150 km northeast of Winnipeg. This historically significant mine has produced over 2 million ounces (Moz) of gold and continues to offer substantial exploration upside.
The current mineral resource estimate for True North includes:
- Indicated Resources: 3.52 million tonnes (Mt) at 4.41 grams per ton (g/t) gold, containing 499,000 ounces.
- Inferred Resources: 5.49 Mt at 3.65 g/t gold, containing 644,000 ounces.
These resources remain open for expansion, with multiple high-priority exploration targets identified near existing underground workings.
Geology and Mineralization
The True North deposit is characterized by high-grade, structurally controlled gold mineralization hosted within the Archean Rice Lake greenstone belt. Gold occurs within quartz-carbonate vein systems associated with major regional structures and secondary shear zones. The mineralization extends to significant depths, providing long-term exploration potential.
History
Gold was first discovered at True North in 1911, leading to decades of intermittent mining under various operators. The mine has undergone multiple phases of development, with extensive underground infrastructure, including a shaft extending to a depth of over 1,200 meters. Previous owners, including San Gold Corporation and Klondex Mines, operated the mine until 2017, after which it was acquired by 1911 Gold in mid-2018.
Infrastructure and Geographic Advantages
- A fully permitted 1,300-ton-per-day (tpd) mill, which can be expanded to 2,250 tpd
- A permitted tailings management facility, reducing environmental and permitting risks
- Year-round road access throughout the property with proximity to hydroelectric power
- A 200-person camp and operational support facilities for efficient workforce deployment
Exploration and Development Plans
1911 Gold is focused on expanding the True North resource through an aggressive exploration program. The company has completed 62 surface drill holes (60 to target depth) totaling 14,974.4 metres within the True North Mine footprint. The program, which began in October 2024, is focused on new targets in prospective host rocks and mineralized structural settings, supported by significant historical results. Two rigs are currently drilling at the SAM SE and San Antonio West (SAM W) zones to test depth extensions of mineralization. Planning is also underway for underground exploration drilling, expected to commence by the end of Q3 2025.
The company will leverage True North’s existing infrastructure to restart mining operations efficiently while continuing to explore the vast untapped potential of the surrounding district.
Regional Exploration Projects
In addition to the True North mine, 1911 Gold controls a large-scale land package within the Rice Lake greenstone belt. The company has identified multiple high-potential targets within this district, including:
- Ogama-Rockland: A past-producing high-grade deposit with significant exploration upside
- Central Manitoba: An area with historical production featuring multiple high-grade vein structures with strong exploration potential
- Gunnar: A historic mine representing an additional potential source of mill feed.
The company aims to leverage its central milling facility as part of a "hub-and-spoke" development model, bringing additional satellite deposits into production.
Management Team
Shaun Heinrichs - President and CEO
With over 20 years of experience in corporate finance, strategic planning, and capital markets, Shaun Heinrichs has held key leadership roles in the mining sector. Before joining 1911 Gold, he served as CFO on various companies, including Group Eleven Resources and Veris Gold, which owned the Jerritt Canyon operation, where he played a pivotal role in corporate development and mergers and acquisitions.
Carmen Amezquita - Chief Financial Officer
A finance professional with over a decade of experience in the resource sector, Carmen has extensive expertise in financial reporting, capital management, and corporate governance for both exploration-stage and producing mining companies.
Michele Della Libera - Vice-president, Exploration
A geologist with over 30 years of experience in mineral exploration, Michele has worked extensively on gold and base metal projects across Canada and internationally and has been closely involved in the development of several mines through to production. He oversees 1911 Gold’s exploration programs, with a focus on expanding the company’s resource base and identifying new discoveries.
Gary O’Connor - Executive Chair
A veteran mining executive with decades of experience in project development and exploration, Gary has held leadership positions at major mining companies, guiding strategic growth initiatives.
Mike Hoffman - Director
A professional engineer with extensive experience in mine development, operations, and corporate strategy. He has played key roles in advancing multiple mining projects from early-stage exploration to production.
Blair Schultz - Director
A finance and investment specialist with a background in institutional asset management and corporate governance. Blair has been instrumental in providing financial oversight and strategic direction for mining companies.
Anna Ladd-Kruger - Director
A highly regarded financial executive in the mining industry, Anna has held senior leadership roles in several resource companies, focusing on financial strategy and corporate growth.
Éric Vinet - Advisor
An expert in mining operations and project development, Éric provides strategic insights on optimizing production, cost management, and operational efficiencies.
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6h
Kobo Resources
Investor Insight
With promising early drill results, favourable jurisdictional dynamics and strong institutional backing, Kobo Resources presents a compelling opportunity for investors seeking exposure to high-value gold exploration in West Africa’s world-class mining frontier.
Overview
Kobo Resources (TSXV:KRI) is a gold exploration company focused on unlocking the untapped mineral potential of West Africa, with its primary operations based in Côte d’Ivoire. The company’s flagship Kossou Gold Project (KGP) is strategically positioned adjacent to Perseus Mining’s (TSX:PRU) Yaouré Gold Mine, a major producing operation, giving Kobo a competitive advantage through shared infrastructure, skilled local labor and logistical accessibility.
Kobo Resources is at the centre of Côte d’Ivoire’s rapidly expanding mining sector.
Côte d’Ivoire offers a mining-friendly jurisdiction with growing geopolitical stability and a supportive regulatory framework. Kobo is capitalizing on the country’s strong gold production momentum, as West Africa continues to lead globally in gold discoveries. The region stands out for its rapid exploration-to-production timelines, averaging just 10 years – significantly shorter than the global average of 16. The Kossou Gold Project benefits from geological characteristics similar to those of the adjacent Yaouré deposit, enhancing the credibility of its resource base and future economic potential.
Kobo’s investment value proposition is supported by a strong leadership team with decades of technical, financial and in-country experience. Backed by strategic partner Luso Global Mining, a subsidiary of engineering and mining giant Mota-Engil, Kobo has secured not only capital during its previous equity raise but also access to the strengths of an end-to-end mining development services giant. The team’s phased exploration strategy and disciplined execution reflect Kobo’s commitment to delivering shareholder value through near-term catalysts such as updated technical reports, metallurgical studies and an aggressive 2025 drill campaign targeting a maiden resource estimate in 2026.
Kobo Leadership team from L-R: Chris Picken, exploration manager; Paul Sarjeant, director, president and COO; and Édouard Gosselin, CEO, director and corporate secretary
Financially, Kobo maintains a lean capital structure with no debt, strategic backers and significant insider ownership, aligning management interests with those of investors. The company raised $7.4 million in 2024 to fund ongoing exploration efforts and has positioned itself to benefit from potential consolidation in Côte d’Ivoire’s rapidly maturing gold sector.
Company Highlights
- Mining-friendly and Underexplored Location – Côte d’Ivoire’s gold production has grown significantly but still trails neighboring countries.
- Prime Location with Infrastructure Advantage – The Kossou Gold Project (KGP) is 40 km from Yamoussoukro and 9.5 km from a major operating gold mine.
- Proven Gold Discoveries with Strike Continuity – 24,471 m drilled at KGP with multiple mineralized zones that remain open along strike and depth.
- Promising Secondary Project – Kotobi gold project offers early-stage exploration upside in a highly prospective greenstone belt.
- Aggressive Growth and Near-term Milestones – +/- 20,000 m 2025 drill program targeting priority zones and advancing toward a potential MRE in 2026 with a strong project pipeline.
- Strong Team and Strategic Backing – Decades of exploration success combined with a strategic partnership with Luso Global Mining (Mota-Engil).
Key Projects
Kossou Gold Project
Aerial view of the Kossou gold project in proximity to nearby infrastructure and operators
The Kossou gold project (KGP) is Kobo Resources’ flagship asset and the cornerstone of its exploration strategy in Côte d’Ivoire. Situated just 40 km from the capital city of Yamoussoukro and adjacent to Perseus Mining’s (TSX:PRU) producing Yaouré Gold Mine, the Kossou gold project offers exceptional geographic advantages. Its proximity to key infrastructure, including roads, power and mining services, significantly reduces barriers to development. Covering a 110-sq-km permit area, the project is nestled within the Birimian greenstone belt, a prolific geological zone renowned for hosting major gold deposits across West Africa. This strategic location provides Kobo with logistical efficiencies and exploration potential in a rapidly growing mining jurisdiction.
Kossou is defined by a trio of high-priority mineralized zones: the Jagger, Road Cut and Kadie Zones, which together represent five kilometers of combined strike length and more than 24,000 meters of drilling to date. These zones have shown consistent gold mineralization, with notable intercepts such as 38.2 m at 1.55 g/t gold (Jagger Zone), 11 m at 6.77 g/t gold (Road Cut Zone), and 9 m at 23.89 g/t gold (Kadie Zone), including an exceptional 1 m section grading 210 g/t gold. These results affirm the continuity of mineralization and point to the potential for an open-pit mining operation with scalable upside. Kobo’s exploration methodology, which combines soil geochemistry, trenching and phased drilling, are both cost-effective and technically sound.
The geology at the Kossou gold project is closely tied to the Bouaflé greenstone belt and features a mix of mafic volcanics and volcano-sedimentary rocks characteristic of the Paleoproterozoic Birimian Group. Mineralization occurs within a 500-m wide and +3-km long north-northwest trending shear corridor known as the Contact Zone Fault.
Beyond its technical merits, the Kossou gold project represents a compelling value proposition due to its combination of scale, grade and development readiness. Kobo has already completed 24,000+ m of drilling so far, with an additional 20,000-m program planned for H2 2025 aimed at delivering a maiden mineral resource estimate in 2026.Yakassé Gold Project – Opportunity
The Yakassé project is located approximately 100 km northeast of Abidjan and is easily accessible by paved and gravel roads. The 74.06 sq km permit application lies within a highly prospective region characterized by NE-SW trending Birimian metavolcanic and metasedimentary units intruded by granitoids. Gold mineralization in the area is structurally controlled, associated with shear zones and quartz veining, and has been the focus of significant historic artisanal and small-scale mining activity.
Previous exploration by reputable operators, including, most recently, Newmont (2007–2010), outlined widespread gold anomalies and confirmed the potential for mineralized systems at the Yakassé Project. Newmont’s work included extensive soil geochemistry, auger drilling, and over 3,500 m of RC drilling. Several broad, near-surface gold intercepts were reported, including 44.0 m at 2.32 g/t gold, 48.0 m at 1.20 g/t gold, and 20.0 m at 1.69 g/t gold, highlighting the strong mineral potential associated with NE-SW trending shear zones. Importantly, Kobo believes the structural trends observed at Yakassé may represent parallel systems to those present at its nearby Nesdave permit and Kuniboa application, underscoring the broader regional opportunity to consolidate and explore an underexplored but prospective gold corridor in southeastern Côte d’Ivoire.The Yakassé gold project is supported by historical exploration work from major operators on prospective ground.
Kotobi Project
The Kotobi gold project (302 sq km) is Kobo Resources’ secondary exploration asset, located in the Moronou region of central-eastern Côte d’Ivoire. Exploration efforts at Kotobi have included a UAV magnetic survey covering the entire property, totaling 1,565 line-kms, a geophysical analysis, soil geochemical sampling, geological mapping and rock sampling. These activities aim to refine exploration as trenching is now underway targets with the goal of identifying drilling targets in the near future. The project benefits from excellent infrastructure, including well-established roads, water and power access, as well as proximity to major cities and established processing facilities.
Growth Opportunities: Earn-in Agreements & Permit Applications
In addition to its 100-percent-owned permits covering a total of 412 sq km(KGP and Kotobi), Kobo Resources has significantly expanded its regional exploration footprint in Côte d’Ivoire through strategic earn-in agreements and permit applications, totalling over 700 sq km of additional exploration opportunity. These pending applications and permits are largely underexplored, offering Kobo a unique opportunity to unlock new gold discoveries in proximity to its existing Kossou and Kotobi projects.
Pending research permit applications:
- Bocanda South – 341.6 sq km
- Kuniboa North- 163.2 sq km
- Kuniboa South - 18.3 sq km
- Yakassé Gold Project - 74.06 sq km
Nesdave Mining earn-in opportunities:
- PR0970 - 93.3 sq km
- PR0973 - 73.5 sq km
Management Team
Edouard Gosselin – CEO, Director and Corporate Secretary
Edouard Gosselin, co-founder of Kobo Resources, is a seasoned attorney and member of the Quebec Bar since 1984. He has privately represented financial institutions, corporations and individuals in commercial law, banking, bankruptcy, reorganizations and startups across tech and industrial sectors and is a seasoned entrepreneur. He has been involved in Côte d’Ivoire since 2012.
Paul Sarjeant, P.Geo., – Director, President and COO
Paul Sarjeant is a professional geoscientist and co-founder of Kobo Resources. He is a mining professional with over 35 years of experience in exploration, development and mining, including 15 years as senior geologist at Echo Bay Mines (Kinross), evaluating international projects. More recently, he was manager of geology at Largo.
Carmelo Marelli – CFO
Carmelo Marrelli is the principal of the Marrelli Group, which includes Marrelli Support Services, DSA Corporate Services and other related entities. A chartered professional accountant (CPA, CA, CGA) and member of the Institute of Chartered Secretaries and Administrators, he serves as CFO for several TSX, TSX Venture Exchange and CSE-listed companies, as well as non-listed companies, and is a director of select issuers.
Chris Picken – Exploration Manager
Chris Picken has over 35 years of experience in the mineral exploration industry, working as a geologist, exploration manager and COO. He has worked with major, mid-tier and junior exploration companies across Africa and South America. For the past decade, he has focused on Archaean and Birimian gold terrains in West Africa, including Côte d'Ivoire, Liberia and Sierra Leone. He led the Yaouré gold deposit feasibility studies from 2014 to 2018.
Frank Ricciuti – Director and Chairman of the Board
Frank Ricciuti was president of Efjay Consulting, providing management and financial services, including organizational structuring and corporate finance. He served as a director for Novik (2006-2014) and Petrolympic (2008-2019) and was Kobo’s vice-president, corporate development from 2015 to 2021.
Brian Scott – Independent Director
Brian Scott, a geologist with over 35 years of global experience, has worked on diverse deposit types including porphyries in the Andes and orogenic gold deposits in West Africa, Canada and beyond. He spent 30 years with Bema Gold (later acquired by Kinross) and B2Gold, where he served as VP geology and technical services.
Vivek Dharni – Director
Vivek Dharni is a business leader with over 20 years of experience in corporate development and finance, focusing on resources, infrastructure and renewable energy. He drives transformational change through sustainable growth strategies that benefit society and elevate stakeholder value. He has held roles at HDFC, Mota-Engil and Rio Tinto, and currently serves as head of mergers & acquisitions for Mota-Engil in Africa and the Middle East.
Jeff Hussey – Independent Director
Jeff Hussey, a professional geologist with 36 years of experience, and holds a B.Sc. in Geology from the University of New Brunswick (1985). He serves on the boards of Brunswick Exploration and Osisko Metals, where he is president and COO. Previously, he was president and CEO of Osisko (2017-2020). With experience in both open pit and underground operations, he also consulted for major mining companies, including Champion Iron Mines, helping raise over $70 million for corporate development. He is currently CEO of PinePoint Mining Ltd.
Patrick Gagnon – Independent Director
Patrick Gagnon is a retired executive with over 25 years in the financial and brokerage industry. He is an active private investor in technology, resources and consumer products. He began his career as a research assistant, later becoming a research analyst, trader and institutional sales professional. From 1995 to 2015, he was a partner at GMP Securities and served as managing director of its Montreal office.
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15 August
Editor's Picks: Gold Tariff Threat Ends, Price Reacts to Fresh Inflation Data
The gold price cooled off this week as tariff-related uncertainty reached a resolution.
The yellow metal was thrust into headlines late last week when US Customs and Border Protection told a Swiss refiner that 1 kilogram and 100 ounce gold bars would be subject to Trump administration tariffs that went into effect on August 7.
Gold is one of Switzerland's top exports to the US, and with the country facing a 39 percent levy, questions were rife about what the impact could be. Clarification came on Monday (August 11), when US President Donald Trump said on Truth Social that gold "will not be tariffed."
While the news calmed market participants, Keith Weiner of Monetary Metals believes the incident could have long-term impacts. He said the tariff confusion caused the spread between spot gold and gold futures to blow out, creating difficulties for entities using the market to hedge.
Here's how Weiner explained it:
"Once you've put the scare into everybody, you can't just say, 'Oh, sorry, just kidding.' You can't really do that. And so now we've done damage, and we'll see what happens to that spread over time. We'll see how users of the futures market adapt.
"There are other markets in the world that would be competing for this hedging business — maybe it moves to Singapore, maybe it moves to Dubai, maybe it moves to London, and the US loses not only a little more trust, but also a little bit of volume on what had been the biggest, or what is currently the biggest, futures market."
This week also brought the release of US consumer price index (CPI) and producer price index (PPI) data. On a seasonally adjusted basis, CPI for July was up 0.2 percent from the previous month and 2.7 percent from the year-ago period. Meanwhile, core CPI, which excludes the food and energy categories, was up 0.3 percent month-on-month and 3.1 percent from the same time last year.
While those numbers were largely in line with expectations, seasonally adjusted July PPI figures came in hotter than expected, rising 0.9 percent month-on-month compared to Dow Jones' forecast of 0.2 percent. Core PPI increased 0.9 percent from June compared to an estimated rise of just 0.3 percent.
Speaking about the implications of the data, Danielle DiMartino Booth of QI Research said it shows companies aren't yet passing tariff-related price increases on to consumers.
This is what she said about how these circumstances could develop:
"I do think that we will see where companies feel they can push through price increases — I think we'll see that. We saw quite a bit of food inflation in the PPI, and when you're talking about things like essentials, and especially with very, very low-margin types of sales, we could see what we call the substitution effect begin, where households end up buying other things. The classic is always that they trade down from steak to ground beef, or trade down from beef to chicken.
"We're going to see whether or not that plays out again."
While the PPI data has slightly dampened expectations that the US Federal Reserve will cut interest rates when it meets in September, CME Group's (NASDAQ:CME) FedWatch tool still shows a strong probability of a reduction at that time.
Bullet briefing — CATL closes mine, Mitsubishi invests in copper
CATL temporarily closes lithium mine
Contemporary Amperex Technology (HKEX:3750,SZSE:300750), better known as CATL, said on Sunday (August 10) that it will halt production at a lithium mine in China for at least three months.
Sources familiar with the matter told Bloomberg that CATL, which is the world's largest electric vehicle battery maker, failed to extend a key mining permit. The company is reportedly in talks about a renewal, but is prepared for a months-long shutdown.
Share prices of lithium miners rose on the news, buoyed by expectations that the CATL mine closure will help reduce oversupply. Excess output has caused Chinese lithium prices to drop 80 percent since the end of 2022, and investors are keen to see a turnaround for the beleaguered battery metal.
Hudbay, Mitsubishi team up on copper
Mitsubishi (TSE:8058) is set to acquire a 30 percent stake in Hudbay Minerals' (TSX:HBM,NYSE:HBM) Arizona-based Copper World subsidiary for US$600 million.
Hudbay called Mitsubishi its "strategic partner of choice," while Mitsubishi said the investment will help advance its copper growth plans. A feasibility study is in the works for Copper World, and a definitive feasibility study is expected in mid-2026.
Hudbay shareholders reacted positively to the news, which comes on the back of a strong focus on copper supply after last month's announcement of a 50 percent tariff on US imports of semi-finished copper products and intensive copper derivative products. The company projects that Copper World will result in a direct $1.5 billion investment into the US critical minerals supply chain.
Want more YouTube content? Check out our expert market commentary playlist, which features interviews with key figures in the resource space. If there's someone you'd like to see us interview, please send an email to cmcleod@investingnews.com.
And don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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15 August
OPINION — Goldenomics 103: Gold Protects and Performs
This opinion piece was submitted to the Investing News Network (INN) by Darren Brady Nelson, who is an external contributor. INN believes it may be of interest to readers and has copy edited the material to ensure adherence to the company’s style guide; however, INN does not guarantee the accuracy or thoroughness of the information reported by external contributors. The opinions expressed by external contributors do not reflect the opinions of INN and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
By Darren Brady Nelson
US President Donald Trump’s “Liberation Day” tariffs certainly caused quite the stir in the markets on April 2.
Gold dropped about 6 percent, and silver 12 percent. A week later, a pause was announced, which ended on August 1. Gold and silver have since risen approximately 11 percent and 24 percent, respectively.
Six month gold and silver price performance.
Source: Trading Economics (gold) and (silver).
Unless you are a professional, or even amateur, trader, it is best to look at gold and silver investment with a perspective of years or decades, rather than just days, weeks or even months. Since the start of the COVID-19 panic in March 2020, gold and silver have exploded 123 percent and 192 percent.
10 year gold and silver price performance.
Source: Trading Economics (gold) and (silver).
In the shorter term, the gold price is driven by what economist John Maynard Keynes called “animal spirits.” In the longer term, it is driven by “monetary spirits.” And not just as protection, but also for performance. The Presidential Gold Guide highlights both in chapters four and five.
Source: Fisher Liberty Gold.
Gold unsurprisingly protects
Economist and investor Mark Skousen has wisely noted that: “Since we left the gold standard in 1971, both gold and silver have become superior inflation hedges.” Gold has more than countered the results of inflation, as measured by CPI, and the drivers of inflation, as measured by M3.
And the numbers back that up. The Gold Protects chart below compares the gold price, CPI and M3 in terms of cumulative growth of each from 1971 to 2025. That is throughout the whole era of gold as an investment, which officially started in 1974 once private ownership was restored.
During this era, gold grew by 541 percent, CPI by 214 percent and M3 by 384 percent. Annual average growth for gold was 10 percent, CPI at 4 percent and M3 at 7 percent. Maximums were 92 percent, 14 percent and 29 percent, respectively. CPI only failed to grow twice, ie. 0 percent in 2009 and 2015. M3 decreased twice, by -4 percent in 2023 and -6 percent in 2024.
Gold surprisingly performs
The highly respected In Gold We Trust (IGWT) report states: “When dealing with the specific level of gold allocation, it is advisable to differentiate between safe-haven gold and performance gold. The Big Long strategy emphasizes the potential of performance gold in the coming years.”
IGWT thus recommends an investment portfolio "rule of thumb" that includes 15 percent in “safe-haven gold” and 10 percent in “performance gold.” The Gold Performs chart below compares gold price, S&P 500 and nominal GDP in terms of cumulative growth of each from 1971 to 2025.
Gold grew by 541 percent, the S&P 500 by 484 percent and GDP by 339 percent. Annual average growth for gold was 10 percent, with the S&P 500 at 9 percent and GDP at 6 percent. Maximums were 92 percent, 45 percent and 14 percent, respectively. Gold did have a higher standard deviation of 27 percent, compared to 17 percent for the S&P 500 and 3 percent for GDP.
Animal and monetary spirits
Gold protects as a hedge or safe haven, not just from inflation, but from the flip side of that same coin of the boom-bust cycle. Both are driven, in the longer term, not by “animal spirits,” but by “monetary spirits.”
Inflation is when money inflation has a widespread impact as price inflation. A bubble is when money increases have a more concentrated impact such as in certain asset values. The bubble eventually bursts when “monetary spirits” are finally reined in by monetary realities.
I say “monetary spirits” because of the role of fiat money, as indicated by, say, M3. When money supply outstrips money demand in a localized way, then that is a bubble, and when in a general way, that is inflation.
The former shows up in certain asset, wholesale and/or producer prices, whilst the latter shows up in CPI. Asset prices include the S&P 500. But nominal GDP is also "ginned up" as it is ultimately a price times quantity measure as well. Price is expressed in money terms.
Conclusion
Gold can have ups and downs, as standard deviation indicates, due to the “animal spirits” of fear and uncertainty, that tend to be daily, weekly or monthly. Yet gold both protects and performs due to the “monetary spirits” of inflation and boom-bust, which tend to be decennially.
In particular, gold performs when the S&P 500 does not, like in the aftermaths of the 2001/2002 dot-com collapse, the 2008/2009 global financial crisis and 2020/2021 COVID-19 lockdowns.
Therefore, when it comes to gold, “follow the money” of central bank “money printing” and fractional reserve bank “fountain pen money,” for both superior inflation protection and boom-bust performance.
And besides, Skousen rightly "begged the question" as follows: “Gold and Silver have always had value, never gone to zero. Can you say the same for stocks and bonds?”
About Darren Brady Nelson
Darren Brady Nelson is chief economist with Fisher Liberty Gold and policy advisor to The Heartland Institute. He previously was economic advisor to Australian Senator Malcolm Roberts. He authored the Ten Principles of Regulation and Reform, and the CPI-X approach to budget cuts.
Click here to read Goldenomics 101: Follow the Money, and here to read Goldenomics 102: The Shadow Price of Gold.
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