- New Break expects to soon be publicly traded on the Canadian Securities Exchange after filing a preliminary prospectus with the Ontario Securities Commission on May 6, 2022.
- The Company holds a 100% interest in multiple projects in two of the most prospective regions in Canada for gold exploration, the Abitibi in Ontario and Kivalliq Region in Nunavut.
- New Break has been awarded a CDN$200,000 grant from the Ontario Junior Exploration Program to help advance its fully permitted Moray Project, south of Timmins.
- Strong management and a highly skilled majority independent Board with backgrounds in finance, geology, capital markets, mergers and acquisitions and law, champion value creation, placing a premium on Environmental, Social and Corporate Governance.
- World class technical advisory group including Ashley Kirwan and Orix Geoscience Inc., Ken Reading, Gordon Morrison and Peter Hubacheck with Nunavut community and government relations represented by John Todd, politician, advisor to Agnico Eagle and friend to the Inuit.
Gold has earned a reputation as a stable commodity that can help investors weather even the most intense financial storms. The yellow metal broke its all-time high by reaching US$2,074.60 in March 2022, amid the Russia-Ukraine conflict, with its previous high taking place as the COVID-19 pandemic shook the world in 2020. Some investors say that everyone should have a bit of gold in their portfolio as a safe store of value during global turmoil. While some investors opt for commodities markets, others seek gains by investing in promising gold mining companies.
Canada is a mining-friendly jurisdiction and ranks within the top five global producers of gold. Northern Canada is a hot spot for gold mining companies due to the famous Abitibi greenstone belt, which straddles the border of Ontario and Quebec. The popularity of this region has given birth to a robust infrastructure that supports mining operations. Golden opportunities in Canada reach further north into Nunavut, which has geological similarities to some of the largest sources of gold in the world. Mining and exploration companies with assets in these regions are certainly worth a paying attention to.
New Break Resources Ltd. (“New Break”) is a private Canadian exploration and development mining company that has assembled a leadership team of managers with direct experience in gold mining, geology, and corporate finance. The Company’s board of directors adds additional expertise in geology and corporate management. A gold-focused portfolio illustrates the Company’s commitment to the precious metal. New Break is currently in the process of going public, having submitted a preliminary prospectus to the Ontario Securities Commission in early May 2022 and expects to list on the Canadian Securities Exchange in the coming weeks. New Break currently has 39,030,750 shares outstanding.
New Break’s flagship Moray Project, is situated in the Abitibi greenstone belt on a splay off of the Cadillac-Larder Lake fault zone, with access to excellent infrastructure, located 49 km south of Timmins, Ontario and 32 km northwest of the Young-Davidson gold mine, operated by Alamos Gold Inc. (TSX:AGI; NYSE:AGI). In total, the Abitibi gold belt has produced over 190 million ounces of gold since 1901 and currently features over 20 gold deposits containing over 3 million ounces of gold in each deposit.
Next to the Abitibi, large gold-bearing greenstone belts in the Kivalliq Region of Nunavut in Canada’s north, offer unparalleled opportunity for mineral discovery and lies significantly underexplored. The greenstone belts of Kivalliq Region are home to the Meliadine and Meadowbank gold mines, operated by one of the world’s largest gold mining companies, Agnico Eagle Gold Mines (TSX:AEM; NYSE:AEM), with combined 2021 production from the two mines 716,495 ounces of gold.
It is because of this incredible potential, that New Break has assembled an impressive portfolio f four gold projects in Kivalliq Region. In October 2021, New Break entered into an Inuit Owned Lands Mineral Exploration Agreement (“MEA”) for exclusive mineral rights on 9,415 hectare Sundog Project. Sundog was discovered in the mid 1980’s by famed Canadian prospector Ken Reading who also discovered the Meliadine deposit. Sundog is characterized by numerous instances of visible gold near surface and has never been drilled. The Company’s Esker and Noomut claims, along with claims comprising the Sy and Angikuni Lake projects, were staked in 2021 using the newly implemented Nunavut Map Selection system for online staking. The Esker claim has seen 3,220 metres of historical drilling in 18 drillholes with some truly spectacular assay results, as described below.
The Company’s management team has decades of directly relevant experience. President and CEO, Michael Farrant has over 25 years’ of leadership experience in the gold mining industry, including the successful completion of multiple acquisitions, following a decade of senior financial roles with Barrick Gold Corporation (TSX:ABX; NYSE:GOLD) and Kinross Gold Corporation (TSX:K; NYSE:KGC). Bill Love, Vice president, Exploration, has over 35 years’ experience in mineral exploration in Canada, including being part of the discovery team for the world-class Hemlo deposit in Ontario, Canada’s third largest gold deposit. Jim O’Neill, CFO, brings three decades of experience in corporate finance and multinational businesses operating in Canada.