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With high-quality, drill-ready assets, with world-class discovery potential, Piche Resources (ASX:PR2) is a compelling business case for investors looking to leverage a bull market for uranium and gold. The company holds a portfolio of drill-ready uranium and gold assets in Argentina and Australia which include the Ashburton uranium project in the Pilbara region; the Sierra Cuadrada uranium project in Argentina; and the Cerro Chacon gold project which shares geological similarities with the Cerro Negro mine.
The Ashburton uranium project comprises three exploration licences and has the potential to host uranium mineral deposits similar to the Pine Creek Geosyncline in Australia’s Northern Territory, and the Athabasca Basin in Saskatchewan, Canada.
iche has an internationally recognized board focused on creating long-term shareholder value, and an in-country technical team in Argentina with a proven track record of taking projects from discovery through to development.
Company Highlights
- The company’s Australian asset is the Ashburton uranium project which has been drilled previously and recorded high-grade uranium intersections over significant widths.
- In Argentina, the company’s Sierra Cuadrada uranium project in the San Jorge Basin has a significant history of high-grade, near-surface uranium mining operations.
- The company is currently drilling one of its prospects at Sierra Cuadrada and has announced visible uranium in numerous holes. Multiple other prospects are drill-ready and have the potential to host tier 1 uranium deposits.
- Exposure to gold with high-quality precious metal projects in Argentina that boast surface outcrop samples with gold grade up to 13 g/t gold.
- Internationally renowned board and management team with extensive uranium and gold exploration and development experience.
This Piche Resources profile is part of a paid investor education campaign.*
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Piche Resources
Investor Insight
With high-quality, drill-ready assets, with world-class discovery potential, Piche Resources is a compelling business case for investors looking to leverage a bull market for uranium and gold.
Overview
Piche Resources (ASX:PR2) is focused on discovering significant uranium and gold deposits in Australia and Argentina. The company boasts a portfolio of high-quality, drill-ready assets with world-class discovery potential, presenting a compelling opportunity for investors aiming to capitalize on the bullish markets for uranium and gold.
Piche Resources’ portfolio includes the Ashburton uranium project in Western Australia’s prolific Pilbara region; the Sierra Cuadrada uranium project in the San Jorge Basin in Argentina; and the Cerro Chacon gold project which shares geological similarities with the Cerro Negro mine in Argentina. Exploration work at these assets indicate their potential to become world-class projects.
Piche has an internationally recognized board focused on creating long-term shareholder value, and an in-country technical team in Argentina with a proven track record of taking projects from discovery through to development.
Company Highlights
- The company’s Australian asset is the Ashburton uranium project, which has been drilled previously and recorded high-grade uranium intersections over significant widths.
- In Argentina, the company’s Sierra Cuadrada uranium project in the San Jorge Basin has a significant history of high-grade, near-surface uranium mining operations.
- Drilling at one of the prospects at Sierra Cuadrada has shown visible uranium in numerous holes. Multiple other prospects are drill-ready and have the potential to host tier 1 uranium deposits.
- Exposure to gold with high-quality precious metal projects in Argentina that boast surface outcrop samples with gold grade up to 13 g/t gold.
- Internationally renowned board and management team with extensive uranium and gold exploration and development experience.
Key Projects
Uranium: Ashburton Project, Australia
Project Highlights
- Location: Pilbara region, Western Australia, approximately 1,150 km north of Perth.
- Project Area: Comprises three exploration licenses covering a 122 sq km land package.
- Historical Exploration: Previous drilling by Pancontinental (62 holes) identified 71 intercepts with grades exceeding 500 ppm U₃O₈, averaging approximately 1.1 lbs of U₃O₈ per tonne. Notable high-grade drilling results include:
- 10.5 m at 4,380 ppm U₃O₈ (Hole AR1004)
- 9 m at 3,490 ppm U₃O₈ (Hole AR1009)
- Recent Development: In 2024, Piche completed a combined reverse circulation and diamond drilling program totaling 3,082.8 meters. The results exceeded expectations, validating previous findings. A follow-up drilling program is planned for mid-2025, targeting both Angelo A & B prospects and other areas within the tenement portfolio.
Uranium: Sierra Cuadrada, Argentina
The Sierra Cuadrada project is located in the San Jorge Basin and spans 1,300 sq km, 200 km north of Comodoro Rivadavia. The project is flat-lying, with visible uranium assays of >3,000 U3O8 or 6.6 lbs per tonne. The mineralization occurs at varying stratigraphic layers and remains open at depth. There is potential for numerous continuous zones up to 30 km wide and 40 km long. Mineralization is open along strike NW and SW and downdip. Further work will include delineating the deposit with shallow drilling and trenching that Pinche boasts can be done at very low cost.
Project Highlights:
- Location: San Jorge Basin, approximately 200 km north of Comodoro Rivadavia.
- Project Area: Spans 1,300 sq km of flat-lying terrain.
- Mineralization: Visible uranium assays exceeding 3,000 ppm U₃O₈ (6.6 lbs per tonne) have been observed. Mineralization occurs at various stratigraphic layers and remains open at depth, with potential for continuous zones up to 30 km wide and 40 km long.
- Historical Context: The Argentine National Atomic Energy Commission conducted extensive uranium exploration from the mid-1950s, identifying thousands of anomalies and developing eight mining operations. In the Chubut province, radiometric and EM surveys have highlighted two large Cretaceous paleochannels in the San Jorge Basin, extending over 200 km N-S and 30 to 60 km E-W. Notable high-grade deposits in the area include Cerro Condor and Los Adobes, both past-producing operations with grades of 6,000 ppm U₃O₈ and 1,400 ppm U₃O₈ found in outcrop, respectively.
- Recent Developments: Auger drilling in 2024 conducted at Sierra Cuadrada highlights extensive areas of near surface uranium mineralization. Assay results have been received for the shallow reconnaissance holes including 6 samples >1000ppm U₃O₈ (to maximum 2,650 ppm U₃O₈) and 2 samples >500ppm U₃O₈ (to maximum 900 ppm U₃O₈)
Gold: Cerro Chacon, Argentina
The Cerro Chacon gold project is located 10 km south of Paso de Indios, in the Chubut Province of Argentina. The land tenement spans 365 sq km of prospective precious metals occurrences. Structural mapping and geochemical sampling at the Chacon Grid identified mineralized systems consistent with surface signatures at the Cerro Negro Mine that boasts a contained metal inventory of 5.8 Moz of gold and 50 Moz of silver.
Project Highlights
- Location: Approximately 10 km south of Paso de Indios, Chubut Province.
- Project Area: Encompasses 365 sq km of prospective precious metals occurrences.
- Geological Potential: Structural mapping and geochemical sampling have identified mineralized systems consistent with surface signatures at the Cerro Negro Mine, which has a contained metal inventory of 5.8 Moz of gold and 50 Moz of silver.
- Recent Developments: Exploration activities at the Cerro Chacon gold project have delineated a substantial mineralized corridor extending over 10 kilometers. Surface sampling and geological mapping have identified multiple high-grade gold occurrences, with assays returning values up to 13 g/t gold. These findings underscore the project’s potential to host significant gold resources. Piche Resources is preparing for a comprehensive drilling program to further evaluate these targets and define the extent of the mineralization.
Management Team
John (Gus) Simpson – Executive Chairman
John Simpson has over 37 years of experience in mineral exploration, development, and mining. Previously the executive chairman and founder of Peninsula Energy Limited (ASX:PEN), a USA uranium producer.
Stephen Mann – Managing Director
Stephen Mann is a geologist with over 40 years of experience in exploration, discovery, and development of mining projects, including 20 years in the uranium sector. Formerly the Australian managing director of Orano, the world’s third-largest uranium producer.
Pablo Marcet –Executive Director
Pablo Marcet is a senior geoscientist with 38 years of experience in exploration, discovery, and development of mineral deposits. Currently an independent director of lithium producer Arcadium Lithium (NYSE:ALTM) and previously a director of Barrick Gold (NYSE:GOLD) and U3O8 (TSX:UWE).
Clark Beyer – Non-executive Director
Clark Beyer is an internationally recognized nuclear industry executive with over 35 years of experience. Formerly the managing director of Rio Tinto Uranium Limited and currently principal of Global Fuel Solutions LLC, providing strategic consulting to the international uranium and nuclear fuels market.
Stanley Macdonald – Non-executive Director
Stanley Macdonald is a nationally recognized mining entrepreneur, founding director, and instrumental in the success of numerous ASX-listed companies, such as Giralia Resources, Northern Star, and Redhill Iron. Currently a director of Zenith Minerals.
Targeting globally significant uranium and gold discoveries in Australia and Argentina
New Age Exploration
Investor Insight
As it advances its portfolio of gold assets in Western Australia’s prolific Pilbara gold province and New Zealand’s Otago Schist Belt, New Age Exploration presents a compelling investor value proposition, supported by a lean, discovery-driven strategy and an experienced technical team.
Overview
New Age Exploration (ASX:NAE) is building a pure-play gold exploration story centered on high-quality assets in tier-one jurisdictions in Western Australia and New Zealand. The company’s clear strategy is to operate in geological corridors already proven by major discoveries, while applying modern, cost-effective exploration techniques to define new zones of mineralization.
In Western Australia, the company’s Wagyu gold project is directly along strike from De Grey Mining’s Hemi discovery – now owned by Northern Star Resources (ASX:NST). In New Zealand, its projects - Lammerlaw and Otago Pioneer Quartz – lie within the same regional structure that hosts OceanaGold’s (TSE:OGC) 5 Moz Macraes deposit and Santana Minerals’ (ASX:SMI) rapidly growing Rise & Shine system.
With gold prices hovering at all-time highs, NAE’s approach favours technology-led targeting, rather than brute-force drilling campaigns, by using geophysics, geochemistry and passive seismic to zero in on structurally controlled gold systems with potential for scale.
All its projects are supported by local technical teams and seasoned exploration leadership, allowing concurrent progress and capital-efficient deployment. Recent programs at Wagyu and Lammerlaw have confirmed early-stage discoveries, and both assets are advancing through their next stages of drilling and target definition.
Company Highlights
- Pilbara and Otago Exposure: Strategic landholdings in two world-class gold regions – Pilbara (WA) and Otago (NZ) – offering dual discovery potential.
- Hemi-style Intrusion Targets: The Wagyu Gold Project shares geological features and proximity with De Grey Mining’s 11.7 Moz Hemi discovery, increasing the likelihood of a major find.
- High-grade Intercepts: Recent drilling at Wagyu returned standout intercepts including 11.2 g/t gold and 1m @ 15.6 g/t gold.
- Emerging New Zealand Gold Revival: Positioned at the forefront of a regional exploration resurgence in New Zealand’s South Island, supported by rising gold prices and favorable regulatory conditions.
- Strong Cash Position: Recently raised AU$1.96 million to fund ongoing drilling, with multiple near-term catalysts expected.
Key Projects
Wagyu Gold Project
The Wagyu gold project is New Age Exploration’s flagship asset located in the highly prospective Central Pilbara region of Western Australia. The project is strategically situated between two major gold systems – Northern Star’s Hemi Gold Deposit (11.7 Moz gold resource) and the Withnell deposit – within the Mallina Basin, which hosts a similar intrusive-style orogenic gold mineralizing system. NAE holds exploration license E47/2974, which covers 136 sq km. Since acquiring the project, NAE has conducted extensive early-stage exploration, beginning with the reinterpretation of geophysical datasets, including airborne magnetics, radiometrics and satellite imagery, to delineate potential Hemi-style intrusions and structurally hosted gold targets.
Wagyu gold project location map
The company-initiated fieldwork in April 2024, completing soil sampling, gravity surveys and passive seismic geophysical surveys to refine drill targets. These efforts culminated in an extensive aircore drilling campaign (257 holes, over 7,000 m drilled), which identified a broad, crescent-shaped gold anomaly approximately 1.5 km in strike length. Notable results included intercepts such as 5.3 grams per ton (g/t) gold over 4 m (including 15.6 g/t gold over 1 m) and 2.7 g/t gold over 2 m. Encouraged by these results, the company completed its maiden RC program in March-April 2025, drilling 3,023 m across 33 holes targeting two high-priority gravity anomalies. Assays released in May 2025 confirmed a shallow oxide gold system and evidence of underlying mineralized structures, including 1.26 g/t gold over 5 m from 31 m (WRC029), 1.32 g/t gold over 3 m from 43 m (WRC031), and 1.44 g/t gold over 2 m from 83 m (WRC009). Numerous other holes returned mineralized intervals of 0.5 to 0.8 g/t over broad zones.
Importantly, geological logging and geophysical modeling support the presence of vertical feeder structures, interpreted as potential gold-bearing intrusions and fault-hosted "pipes," similar to Hemi’s discovery model. The Wagyu system remains open in all directions, with multiple untested gravity targets and deeper feeder zones yet to be explored. A follow-up RC campaign is planned for Q3/2025, focused on extending mineralization and chasing those deeper pipe-like structures beneath the supergene blanket.
Lammerlaw Gold and Antimony Project
Lammerlaw permit occurs in the southern limb of a regional fold feature characterised by a change in metamorphic grade from upper greenschist (purple) to lower greenschist (green).
The Lammerlaw gold and antimony project is located in the Otago Schist Belt, a prolific gold-bearing region in the South Island of New Zealand. The project spans 265 sq km and is held under Exploration Permit EP60807. The area is renowned for its historic gold production and geological similarity to OceanaGold’s Macraes Mine, New Zealand’s largest active gold mine with more than 5 Moz in resources. NAE acquired the project through a competitive acreage release and has since completed desktop studies, field mapping and geochemical sampling, which identified multiple 2 to 4 km-long gold-antimony soil anomalies aligned with historical workings.
During 2023-2024, the company identified nine high-priority drill targets based on soil geochemistry (gold, antimony, arsenic, tungsten), historic production data and structural mapping. NAE mobilized a Phase 1 RC drill program in early 2025, designed to test structurally hosted vein systems within both brittle and ductile deformation zones. This work confirmed the presence of gold and antimony mineralization in several targets, though results are still under review. Access to some targets is subject to Department of Conservation approvals, which the company is pursuing concurrently. A Phase 2 drill campaign is planned for Q1/2026, pending access approvals and final interpretation of current results.
Otago Pioneer Quartz Project
Overview of prospects locations within the OPQ Gold Exploration Project.
The Otago Pioneer Quartz (OPQ) project is in Central Otago within the historic Gabriel’s Gully gold district, the epicenter of the 1860s Otago gold rush. The project lies within the same regional schist belt that hosts OceanaGold’s Macraes operation. NAE acquired the OPQ tenement to secure additional exposure to high-grade shear-hosted and orogenic gold systems in the Otago region. The area is characterized by low-sulphide gold quartz veins associated with greenschist facies metamorphic rocks and late-stage brittle faulting.
While still early-stage, the company has conducted preliminary soil sampling and mapping across the tenement to delineate mineralized structures. Historical records suggest significant past production from alluvial and hard-rock sources, though modern exploration has been minimal. Given its proximity to known gold-bearing shear zones and favourable host rocks, OPQ remains a high-priority, low-cost exploration asset for future campaigns.
Going forward, NAE intends to conduct detailed geochemical and structural mapping, followed by scout drilling at known historical workings. The project remains a capital-light optionality play with future drill programs dependent on results from Lammerlaw and Wagyu.
Management Team
Alan Broome – Chairman
Alan Broome is a highly respected figure in the Australian mining industry with more than 40 years of experience across mining, metals and mining technology. A metallurgist by training, Broome has served as chairman and director of numerous ASX-listed and private companies, contributing to significant exploration and development successes. His leadership brings deep strategic insight and a proven track record in guiding discovery-stage companies through to project advancement.
Joshua Wellisch – Executive Director
A capital markets executive with deep ASX and venture experience, Joshua Wellisch leads strategic and operational execution for NAE’s projects. Wellisch is also currently a director of NRG Capital, specialising in capital raisings, corporate structuring and the facilitation of ASX listings and was formerly managing director of Kairos Minerals Limited.
Peter Thompson – Chief Geologist
Appointed in 2025, Peter Thompson brings 35+ years of exploration leadership including stints at Western Mining, Anaconda Nickel, and as CEO of St Barbara. He led redevelopment of Beaconsfield Gold Mine, spearheaded the acquisition, listing and development of the Karlawinda gold deposit and was instrumental in the discovery and advancement of large volcanogenic massive sulphide deposits in Mongolia.
James Pope – Consulting Geologist (NZ)
James Pope is a highly experienced minerals sector professional with nearly 30 years in exploration, consulting and research across a broad range of commodities including gold, PGE, diamonds, base metals, coal and coal seam gas. He currently leads Strata Geoscience, a specialised geoscience consultancy based in Christchurch, New Zealand. Throughout his career, Pope has progressed from hands-on geological mapping and drill site supervision to leading multidisciplinary teams of up to 50 professionals delivering exploration, resource assessment, engineering and environmental services.
Kerry Gordon – Consulting Geologist (NZ)
Kerry Gordon is a seasoned minerals sector professional with nearly 25 years of experience spanning exploration, resource development and operations. He is currently a principal at Strata Geoscience, and has worked across New Zealand, Australia, Papua New Guinea, Vietnam and Mongolia on projects involving gold, critical metals (antimony, tungsten), coal, coal seam gas, and conventional petroleum. Gordon is an expert at managing exploration programs in remote and technically demanding environments, with a strong focus on field-based geological techniques, complex drilling and downhole logging operations, and logistical coordination.
Asara Resources
Investor Insight
With a proven management team and a high-impact flagship asset, Asara Resources is spearheading a new era of gold discovery in West Africa, leveraging the same team that established Robex’s 3.5 Moz Kiniero project. The company holds 923,000 oz of gold in mineral resources with significant upside, delivering a compelling investment opportunity for savvy investors.
Overview
Asara Resources (ASX:AS1,FSE:ALM) is spearheading the next West African gold rush from a strategic foothold in Guinea’s underexplored Siguiri Basin, an emerging gold district with over 30 million ounces (Moz) of historical and current gold production.
The company’s flagship Kada gold project hosts a 923,000 oz, oxide-dominant gold resource located just 35 km south of AngloGold Ashanti’s 6.2 Moz Siguiri mine. Asara is methodically applying the proven “string-of-pits” development model that has driven success across the region, supported by an experienced team responsible for establishing the Kiniero project, now a cornerstone asset for Robex (TSX:RBX). Guinea offers a favorable jurisdiction for mining investment, with more than US$15 billion in resource-sector inflows since 2020 and a planned return to civilian governance, positioning it as one of the more stable West African jurisdictions relative to its neighbours in the Sahel region.
Asara’s near-term strategy includes: rapidly growing its resource base through 33,600 meters of RC and diamond drilling planned for 2025; advancing a low-CAPEX, oxide-first development strategy leveraging free-dig saprolite, high gold recoveries and conventional carbon-in-leach (CIL) flowsheet; and maintaining upside exposure to copper and silver-zinc through its Loreto JV with Teck and the optional Paguanta asset in Chile.
With strong in-country infrastructure, a focused and proven leadership team, and robust gold pricing tailwinds, Asara is advancing the Kada project toward a construction-ready decision on a compressed and capital-efficient timeline.Company Highlights
- Flagship Kada gold project – 923,000 oz gold and counting: 30.3 Mt @ 0.95 g/t gold with 59 percent oxide-transition ounces that show over 90 percent CIL recoveries and <3.5:1 strip ratio; resource remains open in every direction along a 15 km corridor.
- Aggressive growth runway: Three contiguous licence applications (Talico, Banan and Syli) would lift the land package to 348 sq km and extend strike control to 35 km, only ~6 percent of which is drilled.
- Experienced team who took the Kiniero project from an exploration resource to construction: Senior executives previously turned Robex’s Kiniero from 1 Moz to ~3.5 Moz and into a C$750 million market cap company, bringing an identical on-ground team, in-country relationships and proven workflows to Asara.
- Strategic Land Package: Kada is in the heart of the prolific Siguiri Basin (>30 Moz gold endowment), just 35 km south of AngloGold Ashanti’s Siguiri Mine.
- Strong Institutional Support: Top 20 shareholders control 70+ percent of the company.
Key Projects
Kada Gold Project
The Kada gold project, located in the heart of Guinea’s prolific Siguiri Basin, is Asara’s flagship asset and the primary focus of its development strategy. The project currently hosts a JORC 2012-compliant mineral resource estimate of 30.3 million tons (Mt) grading at 0.95 grams per ton (g/t) gold for 923,000 oz of contained gold, comprising 391,000 oz oxide, 145,000 oz transitional, and 387,000 oz fresh mineralization. Approximately 59 percent of the resource lies within the oxide-transitional profile, with 24 percent of the total resource already classified as indicated.
The resource is hosted within the Massan and Bereko deposits, both of which remain open along strike and at depth and sit along a regional-scale 15 km gold-bearing corridor. The Massan deposit alone accounts for 906,000 oz of the total resource and is characterized by shallow, broad zones of saprolitic mineralization ideal for low-strip, open-pit mining. Gold mineralization is associated with quartz-sulphide-tourmaline stockworks hosted in metasediments with deep saprolite (>100 m) and is amenable to simple processing.
The mineralized zones are free-milling, with metallurgical testwork confirming cyanide leach recoveries of 95 to 97 percent for oxide and 88 percent for transition/fresh ore. Conventional CIL processing is suitable, with rapid leach kinetics (less than 24 hours for oxide) and no need for gravity recovery or oxygen injection. The ore has medium hardness, with a grind size optimized at 80 percent passing 75 microns. Geotechnically, the project exhibits a low strip ratio (<3.5:1), and the saprolite is potentially free digging, minimizing mining costs.
The project is within 60 km of the mining centre of Siguiri and benefits from existing infrastructure, including paved roads and ready access to water. Asara plans to carry out 33,600 metres of drilling in 2025, including 24,000 m RC and 9,600 m diamond drilling, to upgrade confidence in the core of the resource and test extensions at depth and along strike. These campaigns will target mineralization north, south and west of Massan. Auger drilling will be used to define and explore kilometre-scale gold-in-soil anomalies on the Talico, Banan and Syli license application. If granted, these licenses will expand Asara’s landholding to 348 sq km and provide a 35 km contiguous footprint along the Siguiri gold trend, where artisanal workings have already been mapped along key lithologic contacts.
The Bereko deposit, situated 10 km north of Massan, currently hosts an inferred resource of 18,000 oz gold grading at 0.94 g/t from shallow oxide, transitional and fresh material.
Importantly, this MRE only covers 400 metres of a >5.5 km strike length with confirmed bedrock gold anomalies. Historical drilling at Bereko includes notable intercepts such as 1.2 g/t gold over 27 m, 3.3 g/t gold over 9.3 m, and 8.8 g/t gold over 3.3 m. Mineralization remains open in all directions, providing significant upside potential with further drilling.
Asara envisions a low-CAPEX, staged development, anchored by starter pits at Massan and Bereko, followed by centralized processing infrastructure capable of supporting future satellite deposits. This approach mirrors the multi-pit strategy successfully deployed at Kiniero and Siguiri.
Loreto Copper Project
The 100 percent owned Loreto project is a large-scale porphyry copper exploration project in northern Chile, located between tenements held by mining majors BHP and Codelco. Under a joint venture with Teck Resources, Teck can earn a 75 percent interest in the project by making US$0.6 million in staged payments and spending US$17 million on exploration. The project hosts a 2.3 km x 1.0 km alteration footprint with evidence of a deeper porphyry system, supported by mapping, geochemistry and ZTEM geophysics. Teck is currently advancing social license and environmental studies to enable drilling. Asara is fully carried under the JV structure and maintains strategic exposure to a world-class copper opportunity with no capital obligations.
Paguanta Project
Asara holds a 75 percent interest in the Paguanta project in Chile. The asset is an advanced silver-zinc-lead-gold project with a defined JORC 2012 mineral resource totaling 2.4 Mt grading at 5 percent zinc, 1.4 percent lead, 88 g/t silver, and 0.3 g/t gold. The Patricia deposit contains a silver-equivalent resource of 18.2 Moz (236 g/t silver equivalent) and a zinc-equivalent resource of 514 Mlb (9.7 percent zinc equivalent). Mineralization is hosted within epithermal veins with potential for porphyry copper at depth, including the newly identified La Rosa porphyry target. More than 46,700 metres of drilling has been completed at the site, and a partial feasibility study was previously conducted by Golder Associates. Asara is actively evaluating strategic options to realize value from this asset.
Leadership Team
Matthew Sharples – Chief Executive Officer
Formerly with Robex, Matthew Sharples was instrumental in growing Kiniero into a multi-million-ounce project. He brings deep expertise in capital markets, stakeholder engagement, and West African permitting.
Tim Strong – Executive Director
Tim Strong is a seasoned exploration geologist and JORC Competent Person with significant experience across West Africa. Strong leads Asara’s technical strategy and resource development.
Brett Montgomery – Non-executive Chairman
Brett Montgomery is a respected corporate leader with a history of guiding early-stage exploration companies through critical growth phases.
Dr. Doug Jones – Non-executive Director
A geologist with decades of African exploration experience, Dr. Doug Jones provides technical oversight and strategic direction.
Dan Tucker – Technical Advisor
A key architect behind the Kiniero development strategy, Dan Tucker contributes deeply to geological targeting and land consolidation strategy.
Trailbreaker Acquires the Wheaton Gold Property, an Orogenic Gold Prospect in BC's Underexplored Turnagain Placer District
Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce the acquisition of the Wheaton Gold property, an orogenic gold prospect located 60 km east of the Village of Dease Lake, British Columbia (BC). The property covers the headwaters of multiple placer gold-bearing creeks, including Alice Shea Creek, source of the famous 52 troy oz ‘Turnagain nugget’.
Highlights of the Wheaton Gold Property
- 2,223 hectares in size, covering roughly 2 km x 9 km (Figure 1).
- Located 60 km east of Dease Lake, BC, with extensive truck and ATV trail access throughout the claims, servicing historic and current placer mining operations.
- Covers the headwaters of the placer gold-bearing Wheaton and Alice Shea creeks, which are famous as the source of some of BC’s coarsest gold nuggets. This includes the fourth largest nugget ever found in BC, the ‘Turnagain nugget’, weighing 52 oz gold (Au) (Figure 2)
- The project represents one of BC’s most underexplored placer gold districts, with very limited hardrock exploration work done to date.
- A three-hole, 304.7-meter diamond drill program completed in 1986 yielded numerous gold intercepts, including 5.38 g/t Au over 3.05 m (from 28.96m depth)
- Historic gold-in-soil values up to 32.3 g/t Au, and historic rock grab samples up to 11.25 g/t Au, have been returned.
Daithi Mac Gearailt, CEO of Trailbreaker, commented: “We are excited to add the Wheaton Gold property to our portfolio of gold and copper exploration projects. Now that the claims have been consolidated, this is a great opportunity to explore the area of a historic discovery hole that has yet to receive follow-up exploration. This is one of the few placer districts left in BC where a hardrock source of the placer gold has yet to be found. We are currently designing a robust exploration program and will be providing updates as soon as they are available.”
Location and Access
The 2,223-hectare Wheaton Gold property is located approximately 60 kilometers east-southeast of the Village of Dease Lake in northwestern British Columbia and can be accessed by all-terrain vehicles utilizing the Boulder Mine Road. The property can also be accessed by float plane chartered from Dease Lake to Boulder City Lake. Historic placer mining trails provide good vehicle access to much of the property.
Giga Metals Corporation has proposed a major road and transmission line to its advance-stage Turnagain nickel-cobalt deposit, located 10 km to the east. This would bisect the northern end of the Wheaton Gold property, further bolstering the potential economic viability of the area.
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Figure 1: Location of the Wheaton Gold property with historic exploration highlights.
Placer Mining History
Placer gold was first discovered at the mouth of Wheaton Creek (formerly Boulder Creek) in 1932 and shortly afterwards on Alice Shea Creek, a small tributary of Wheaton Creek. The Wheaton-Shea placer camp marked the last major placer gold discovery in BC, with a total of 7,756 oz of placer gold mined from Wheaton Creek between 1932 and 1945, and a total of 331 oz Au mined from Alice Shea between 1936 and 1940. Alice Shea Creek produced the coarsest placer gold in the drainage, with one nugget weighing over 52 oz (the Turnagain nugget, Figure 2) and numerous nuggets weighing from 1 to 16 oz. Modern-day placer mining continues to this day at the mouth of Wheaton Creek, with over 20,000 oz of placer gold estimated to be recovered to date.
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Figure 2: The 52 oz Turnagain nugget, discovered in Alice Shea Creek in 19371.
Hardrock Exploration History
Wheaton Zone
The northern portion of the property, covering the present-day placer operations near the mouth of Wheaton Creek, has seen the least amount of hardrock exploration within the property, having undergone only one documented significant program, completed in 1986 by Supreme Resources (Supreme). That year, Supreme conducted a soil geochemical survey followed by a mechanical trenching program which returned very encouraging results, and identified strongly anomalous gold-in-soil values up to 32,300 ppb Au. Trenching within these soil anomalies returned rock gab samples up to 11.25 g/t Au. During the same year, Supreme tested this zone with 3 shallow diamond drill holes totaling 304.7 meters (Figure 3). However, only limited follow-up work in the last 39 years has been documented.
Hole DDH-86-01, the first of the 1986 program, encountered several gold-enriched intervals associated with fault-controlled quartz-carbonate breccia, including:
- 5.38 g/t Au over 3.05 meters (from 28.96 meters)
- 1.23 g/t Au over 3.05 meters (from 38.10 meters)
- 1.88 g/t Au over 3.05 meters (from 47.24 meters)
- 0.89 g/t Au over 3.05 meters (from 68.58 meters)
- 0.34 g/t Au over 3.05 meters (from 102.11 meters)
- 3.46 g/t Au over 2.44 meters (from 139.29 meters)
The other two holes underwent very limited sampling, with only two samples taken from DDH-86-02 and one from DDH-86-03, all returning trace gold values.
This work by Supreme resulted in the first and only discovery of hardrock gold mineralization that could be linked to the source of the rich placer gold deposits along the lower portion of Wheaton Creek.
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Figure 3: Location of the 1986 diamond drill program above Wheaton Creek.
Pacific Bay Minerals, a junior mining company, held the ground from 2015 to 2024 but conducted very limited exploration. Much of Pacific Bay’s efforts were focused on mining jade boulders rather than on hardrock gold exploration. Their most significant work included a 2021 property-wide airborne magnetic survey that defined an open-ended NW-SE trending linear magnetic low feature that correlates with the 1986 discovery hole by Supreme. This is interpreted to potentially represent a listwanite-altered fault zone (Figure 4). Listwanite and listwanitic alteration is extensively documented around Alice Shea Creek (expanded upon below).
This survey provided several new exploration targets which have not been tested to date. Several east-west trending offsets occurring near the Wheaton zone may represent potential structures associated with gold mineralization.
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Figure 4: The 2021 airborne magnetic survey completed by Pacific Bay Minerals displays a significant NW-SE trending magnetic low which is interpreted to be a listwanite-altered fault zone. The 1986 drilling is located on the margin of this zone.
Shea Zone
The Shea zone is located along the headwaters of Alice Shea creek, close to the discovery area of the 52 oz Turnagain gold nugget. The nugget was discovered in the upper extent of the drainage, narrowing the search for the hardrock source.
The majority of the exploration work done at the Shea zone was done from 1985 to 1996, with several junior mining companies conducting small-scale exploration surveys. This includes companies such as Powder Ridge Resources, Imperial Metals, Goldbank Ventures, and Loumic Resources.
Loumic Resources’ 1996 exploration program was the most robust, comprising 196 soil samples and 191 meters of mechanized trenching4. Reconnaissance soil sampling identified several anomalous gold-arsenic (As) zones (up to 161 ppb Au & 112 ppm As) that have yet to receive follow-up exploration (Figure 5). Furthermore, trenching, targeting gossanous float immediately upslope from the location of the 52 oz gold nugget, revealed a listwanite outcrop containing intense quartz stockwork and disseminated pyrite. Only trace gold values were returned; however, the mineralization and alteration are textbook markers for orogenic gold deposits. This marked the last significant gold exploration program occurring on the Shea zone.
In 2011, First Point Minerals Corp was the last junior mining company to work the property; however, they focused on nickel mineralization rather than gold. Gold analysis for rock grab samples during the 2011 program utilized a 4 g/t detection limit, much higher than fire assay detection limits commonly used.
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Figure 5: Historic hardrock exploration along Alice Shea Creek, with the approximate location of the discovery of the 52 oz Turnagain nugget.
Geology, Deposit Model, and Mineralization
The Wheaton Gold property is underlain by northwest-trending, complexly folded and faulted ultramafic rocks of the oceanic Cache Creek terrane, and by metasedimentary rocks of the Kedahda Formation (Figure 6).
The northern portion of the Wheaton Gold property covers fault-bounded metasedimentary rocks of the Mississippian to Triassic Kedahda formation which include heterolithic argillite with wispy silt laminae, thinly bedded sandstone, and rare discontinuous limestone beds. This Kedahda sedimentary package is separated from the ultramafic rocks (peridotite, dunite, pyroxenite) of the Cache Creek terrane by a northwest-southeast trending thrust fault.
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Figure 6: Regional geology and neighbouring projects of the Wheaton Gold property.
The Wheaton Gold property demonstrates potential for orogenic “motherlode-style” Au-bearing quartz vein deposits, such as the past-producing 4.2 Moz Bralorne-Pioneer mine in the Bridge Lake Gold Camp, southwestern British Columbia, and the world-famous Sierra Nevada mining district in California which produced over 100 Moz of placer and hardrock ‘lode’ gold (Figure 7). The Wheaton Gold property is analogous to these deposits, as all are hosted by oceanic crust accreted onto ancestral North America and spatially associated with significant coarse placer gold deposits. Furthermore, the lode gold deposits at both the Bridge Lake and Sierra Nevada gold districts are associated with listwanitic alteration of peridotites, quartz veining, and major fault structures, all of which have also been mapped in the Wheaton property area.
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Figure 7: Orogenic lode gold camps along the Cordillera (modified from Nelson et al., 20135).
There have been no major orogenic lode gold deposits delineated to date within the northern Cache Creek terrane. However, several large placer gold camps have been established, commonly accompanied by hardrock showings and small gold deposits indicating potential sources of the rich surficial placers. Nearby examples of orogenic gold showings within the oceanic Cache Creek terrane include the Yellowjacket deposit (130,000 tonnes grading 5.8 g/t Au) situated in the Atlin Goldfields, and the Keystone Showing (historic drill intercepts include 9.1 g/t Au over 12.2 m within a quartz porphyry setting) in the Thibert placer district. Both of these are associated with quartz veining and listwanitic alteration.
The Erickson gold camp, ~100 km to the north-northwest, is not hosted by the Cache Creek terrane, but is surrounded by the McDame Creek coarse surficial placer gold deposits, where the second-largest placer gold nugget ever recorded in BC, weighing 72 oz, was discovered. At Erickson, which comprises several past-producing gold mines, lode gold is characterised by quartz veins hosted by listwanite. Average grades ranged from 10-20 g/t Au for a total of 315,000 oz Au mined historically. The Erickson camp includes the Taurus deposit, currently owned and being advanced by Cassiar Gold Corp., which has delineated an indicated resource of 0.4 Moz Au and an additional inferred resource of 1.9 Moz Au6.
Placer miners have reported that many of the placer gold nuggets recovered from the Peacock workings of Wheaton Creek, which directly drains the area of drill hole DDH-86-01, contain inclusions of altered pyroxene and serpentine, and that some gold nuggets are still fused to quartz fragments. These observations by the placer miners further suggest the placer gold in Wheaton Creek has a nearby source.
Terms of the Option Agreement
On July 1st, 2025 (the “Effective Date”), Trailbreaker signed an option agreement (the “Agreement”) with Cordilleran Properties (the “Optionee”) of Kamloops, BC. Subject to the approval of the TSX Venture Exchange, Trailbreaker has the option to acquire a 100% interest in the Wheaton Gold property by completing the following:
- (a)paying to the Optionee $10,000 on the Effective Date;
- (b)paying to the Optionee $10,000 on or before the first anniversary of the Effective Date;
- (c)paying to the Optionee $15,000 on or before the second anniversary of the Effective Date;
- (d)paying to the Optionee $25,000 or issuing to the Optionee $25,000 worth of Trailbreaker common shares (“Shares”) on or before the third anniversary of the Effective Date;
- (e)paying to the Optionee $75,000 or issuing to the Optionee $75,000 worth of Shares on or before the fourth anniversary of the Effective Date; and
- (f)completing $1,000,000 of expenditures on or before the fifth anniversary of the Effective Date.
Upon completion of the Agreement, Trailbreaker will obtain a 100% interest in the property and the Optionee will retain a total 2.0% Net Smelter Return (NSR) royalty, which may be brought down to 0.5% through a cash payment of $1,500,000 to the Optionee.
References
- Alice Shea Creek BC minfile
https://minfile.gov.bc.ca/Summary.aspx?minfilno=104I%20%20005
- Cukor, V. 1987. Diamond Drill Report for Supreme Resources on the Jed Claims.
https://apps.nrs.gov.bc.ca/pub/aris/Detail/16332
- Pacific Bay Minerals’ September 16, 2019 news release
https://www.pacificbayminerals.com/news/wheaton-creek-property
- Livgard, E. 1997. Exploration Report 1996. The Mt Shea Claim Group, for Loumic Resources
https://apps.nrs.gov.bc.ca/pub/aris/Detail/24891
- Nelson, J.L., Colpron, M., and Israel, S., 2013, The Cordillera of British Columbia, Yukon, and Alaska: Tectonics and metallogeny, in Colpron, M., Bissig, T., Rusk, B.G., and Thompson, J.F.H., eds., Tectonics, Metallogeny, and Discovery: The North American Cordillera and Similar Accretionary Settings: Society of Economic Geologists Special Publication 17, p. 53–109.
- Cassiar Gold website
https://cassiargold.com/projects/cassiar-gold-project/cassiar-gold-project/
About Trailbreaker Resources
Trailbreaker Resources is a mining exploration company focused primarily on mining-friendly British Columbia and Yukon Territory, Canada. Trailbreaker is committed to continuous exploration and research, allowing maintenance of a portfolio of quality mineral properties which in turn provides value for shareholders. The company has an experienced management team with a proven track record as explorers and developers throughout the Yukon Territory, British Columbia, Alaska and Nevada.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker's BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
Other
For new information about the Company’s projects, please visit Trailbreaker’s website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker’s tweets at Twitter.com/TrailbreakerLtd, use the ‘Contact’ section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Bringing Art, Youth, and Football Together: Kobo's Workshop in Kossou
2024 Kobo Cup Winner, Kossou
Kobo Cup
The Kobo Cup was created as a way to launch Kobo Resources' community engagement efforts in a way that felt local and genuinely rooted in the lives of the people we work alongside. In Côte d'Ivoire, as across much of Africa, football is more than a sport. It's a shared language, a daily ritual, and a powerful force that brings people together across generations.
Despite its modest scale, the Kobo Cup 2024 sparked something powerful. It proved that football could be more than a game; it could be a platform for community connection, for showcasing local identity and for inspiring youth. It showed us what's possible when we invest in more than just infrastructure, we invest in culture.
That initial match planted the seed for a bigger vision: to make the Kobo Cup an annual, community-rooted tournament that grows in both reach and impact each year. That's why, for the second edition of the Kobo Cup, Kobo Resources has stepped it up, transforming the single match into a dynamic multi-team tournament featuring the villages of Kossou, Bocabo, and Angossé, all located in the vicinity of Kobo's flagship property The Kossou Gold Project for the 2025 edition, scheduled for late November. This expansion reflects our ongoing commitment to community engagement and inclusion, ensuring more youth, more talent, and more villages get to take part in the celebration.
For 2025, we introduced a village jersey design workshop, allowing young people who may never play on the field to still be part of the tournament in a powerful way.
The Workshop
On Monday June 16 th , 2025 at the Kobo Camp situated on the Kossou License, creativity took center stage. A handful of young people from Kossou, Bocabo, and Angossé gathered for an inspiring art workshop, hosted by Kobo Resources in partnership with African Boyz Club, to design the official jerseys their villages will proudly wear at Kobo Cup 2025.
This workshop marked more than a moment of artistic expression. It was the beginning of something bigger: a celebration of identity, talent, and the belief that everyone, on and off the field, has a role to play in the story of their community.
The session began with freehand sketching. Pens, pencils, and blank pages quickly filled with bold symbols, vibrant colors, and personal visions, each design inspired by the history, culture, and energy of the youth's own communities.
The workshop was led by two Ivorian artists from African Boyz Club, who brought not only artistic expertise but a deep understanding of how art can empower. They guided the youth through a process that was both creative and intentional, encouraging them to think of their designs as visual representations of village pride, unity, and voice.
Each village's final jersey design was converted into a professional tech pack by Kobo's design team. These original creations will be produced and unveiled for the upcoming Kobo Cup tournament, bringing authenticity, pride, and ownership to the pitch like never before.
More Than a Match
At Kobo Resources, our commitment to community runs deeper than development. This initiative reflects our belief in youth empowerment, cultural expression, and meaningful local engagement. It's part of our broader Corporate Social Responsibility (CSR) vision, one that celebrates not just what we do, but how and with whom we do it.
This entire journey, from creative expression in June to athletic excellence later this year, is enhanced by incredible local partnerships:
- African Boyz Club , a company based in Abidjan, is leading the way in the youth workshop, offering creative guidance and mentorship as the children design jerseys and create transfer art rooted in their local experiences.
- Coast 2 Coast Entertainment is playing a key role in the tournament itself, by providing high-quality football equipment to every player across all participating teams. This ensures that when it's time to step on the pitch, every player is equally equipped and ready to play, no matter where they come from.
Together, these partners help Kobo Resources ensure that both the workshop and the tournament reflect our shared values: inclusion, fairness, and celebration of local talent.
Both partners, led by Ivorian men deeply connected to their communities, embody the spirit of the Kobo Cup: grassroots empowerment, local talent, and sustainable contribution. Through art they're helping transform the Kobo Cup into a space where creativity, culture, and sport intersect.
Kobo is proud to sponsor the Kobo Cup for its second year and even more so with local partners such as African Boyz Club and Coast 2 Coast Entertainment. Our commitment to maintaining strong community relations is being reflected through the organization of such sporting events which in turn help infuse a sense of hope that anything is possible in this world through selfless engagement. - Edward Gosselin, CEO, Kobo Resources.
Football became a tool for social transformation, a universal language that unites, inspires, and opens real pathways for youth in Côte d'Ivoire. We're proud to support young players by making sure every player steps onto the field equipped, equal, and inspired. - Cheikh-Louis Tall, CEO, Coast 2 Coast
To us like sport, art is a highway to a better tomorrow by winning self- confidence and developing curiosity. Through our involvement in the Kobo Cup, we're proud to guide young people as they turn their ideas into symbols of village pride, unity, and expression. - Fred Gnaoré, Founder, African Boyz Club
At Kobo Resources, community integration is more than a commitment, it's a cornerstone of how we work. Through initiatives like this workshop, we aim to create opportunities that go beyond the project and stay rooted in the lives of those around us.
As the countdown to Kobo Cup 2025 begins, the energy is already building. And when the players step onto the field, they'll wear more than a jersey, they'll wear a story, designed by the youth, for the village, and for the future.
About Kobo Resources Inc.
Kobo Resources is a growth-focused gold exploration company with a compelling new gold discovery in Côte d'Ivoire, one of West Africa's most prolific and developing gold districts, hosting several multi-million-ounce gold mines. The Company's 100%-owned Kossou Gold Project is located approximately 20 km northwest of the capital city of Yamoussoukro and is directly adjacent to one of the region's largest gold mines with established processing facilities.
For more information, please visit www.koboresources.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20250707763650/en/
For further information:
Edward Gosselin
Chief Executive Officer and Director
1-418-609-3587
ir@kobores.com
Twitter: @KoboResources | LinkedIn: Kobo Resources Inc.
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