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Sarama Resources
Investor Insight
Sarama Resources offers a compelling investment opportunity driven by a +US$120 million fully-funded arbitration claim and two new belt-scale gold projects encompassing 1,000 km2 of the Cosmo Newbery and Jutson Rocks Greenstone Belts in Western Australia’s prolific Eastern Goldfields.
Overview
Sarama Resources (TSXV:SWA,ASX:SRR) is an Australian gold exploration and development company with two key value drivers: a fully funded, multi-million-dollar arbitration claim and two highly prospective gold projects in Western Australia’s Eastern Goldfields. Each of these presents significant standalone value, while together they offer strong upside and optionality for investors.
Sarama recently secured the Cosmo Newbery and Mt Venn Gold Projects, covering 580km² and 420km² respectively. These projects encompass the majority of the greenstone belts they are located within - regions historically underexplored but geologically similar to the nearby Dorothy Hills belt, host to Gold Fields’ +8Moz Gruyere Gold Mine. Both projects offer a compelling exploration opportunity in one of Australia’s most prolific gold provinces.
In parallel, Sarama is advancing a fully funded arbitration claim against the Government of Burkina Faso, seeking no less than US$120 million in damages. The claim is backed by a non-recourse loan facility, with leading international law firm Boies Schiller Flexner - renowned for securing large settlements - engaged to lead proceedings.
The Company is led by a highly experienced board and management team with a strong track record in gold discovery and development, including the +25Moz Kibali Gold Mine and the +3Moz Sanutura Gold Project.
Sarama’s Regional Exploration Strategy
Sarama’s regional strategy is centred on unlocking value across 1,000km² of contiguous, underexplored greenstone terrane in one of Australia’s most productive gold provinces. With 100% control of the Cosmo Gold Belt and a majority stake in Mt Venn, Sarama is strategically positioned between two of the region’s most prolific gold belts - Yamarna/Dorothy Hills to the east and Laverton to the west.
Both projects share key geological signatures with nearby multi-million-ounce deposits and benefit from existing infrastructure and access. The Company’s exploration efforts will focus on high-priority targets across both belts, with systematic programs planned throughout 2025 to rapidly advance discovery.
Together, Cosmo Newbery and Mt Venn offer a rare opportunity to explore at scale in a region that has delivered some of the largest gold discoveries in recent decades - yet remains largely underexplored.
Company Highlights
- Sarama Resources is advancing two key value drivers: a fully funded, multi-million-dollar arbitration claim and two highly prospective belt-scale gold projects in Western Australia’s Eastern Goldfields.
- The flagship Cosmo Gold Project spans 580km², covering much of the underexplored Cosmo Newbery Greenstone Belt. Complementing this, Sarama holds an 80% interest in the 420km² Mt Venn Project, located just 40km from both its Cosmo Project and Goldfields +8Moz Gruyere Gold Mine. The region has remained largely under-explored due to historical access restrictions, leaving considerable untapped potential.
- The Company is also pursuing a fully funded arbitration claim seeking not less than US$120 million in damages from the Government of Burkina Faso. This claim, related to the Sanutura Project, is supported by a non-recourse funding facility covering all legal costs, with formal proceedings initiated in December 2024.
- Sarama is led by a seasoned team with all members having over 30 years’ experience each and a strong track record in gold discovery and development.
Key Projects
Cosmo Newbery Gold Project
The Cosmo Gold Project is a unique, underexplored, belt-scale gold opportunity in Western Australia's prolific Eastern Goldfields. Sarama holds the entire Cosmo Newbery Greenstone Belt under granted exploration licenses covering approximately 583km². The belt is one of the few remaining greenstone belts in Western Australia to have seen little to no modern exploration.
The project is located approximately 85 km northeast of Laverton and 95 km west of the +8Moz Gruyere Gold Mine, operated by Gold Fields and Gold Road. The surrounding region hosts several world-class gold systems, including the Yamarna and Dorothy Hills belts to the east (home to Gruyere, the 1Moz Golden Highway, and 300koz Gilmore deposits) and the Laverton Belt to the west, with over 35Moz in gold endowment and 12Moz of historic production.
Cosmo shares strong geological and structural similarities with these prolific belts. Key elements of orogenic gold systems are present, including:
- Archaean greenstone lithologies
- Crustal-scale shear zones
- Felsic intrusions
- Localised faulting and shearing
- Historic gold mineralisation and high-grade rock chips (up to 52 g/t Au)
Despite gold first being discovered here in the 1890s, the region has seen virtually no modern exploration or drilling, offering a unique opportunity to unlock value in a highly prospective setting.
Project Highlights
- Proven Gold Terrane: Located in a world-class gold province surrounded by major deposits
- Scale and Control: 100% control of the entire Cosmo-Newbery Belt, spanning +50 km of strike
- Underexplored: Minimal historical exploration; no modern drilling of merit
- Historic Potential: Early gold discoveries in the 1890s with artisanal workings still visible
- Strategic Location: Proximal to major gold operations including the Gruyere Gold Mine and multiple large scale mines in the Laverton gold belt
Mt Venn Gold Project
The Mt Venn Gold Project is a large-scale, underexplored gold exploration asset in Western Australia’s Eastern Goldfields, located approximately 40 km east of Sarama’s Cosmo Newbery Gold Project and 40 km west of the +8Moz Gruyere Gold Mine. Sarama holds an 80% interest in the project, which spans 420km² across a substantial portion of the Jutson Rocks Greenstone Belt - a geologically prospective system with gold first discovered in the 1890s.
Mt Venn shares many geological similarities with the Cosmo Project, and is viewed as a complementary, belt-scale exploration opportunity. The project comprises three contiguous exploration tenements and hosts a 35km gold corridor, defined by semi-continuous gold-in-soil anomalies, historic workings, and encouraging drill intercepts. Historic drilling has returned multiple results of merit, including intercepts up to 8.5 g/t Au, over a 4km trend at the Three Bears Prospect.
Geologically, Mt Venn is highly prospective, featuring:
- Archaean greenstone lithologies
- A major regional shear zone running the full 50km length of the belt (1–3 km wide)
- Favourable structural and lithological settings for orogenic gold mineralisation
Despite early discoveries, the project will benefit from a systematic, project-wide approach to exploration and offers substantial discovery potential in a proven gold district.
Project Highlights
- Proven Gold Terrane: Covers a significant part of the Jutson Rocks Greenstone Belt in a region known for major gold discoveries
- Contiguous Tenure: 420km² across three tenements, including a 35km anomalous gold corridor
- Geological Potential: Hosts a large regional shear zone with associated gold mineralisation and strong structural controls
- Historic Workings: Gold discovered in the 1890s; limited systematic follow-up exploration
- Drill-Ready Targets: Historical drilling includes intercepts up to 8.5 g/t Au at the Three Bears Prospect
- Strategic Location: Positioned 40 km from Gruyere (+8Moz), 20 km from the 1Moz Golden Highway deposit, and 40 km from Sarama’s Cosmo Gold Project
Management Team
Andrew Dinning – Executive Chairman
Andrew Dinning is a founder and the Executive Chairman of Sarama Resources. Dinning has over 35 years of experience in the international mining arena and has worked in Australia, the Democratic Republic of Congo, West Africa, the UK and Russia. He has extensive mine management, operations and capital markets experience and has spent most of his career in the gold sector.
Dinning was a Director and President of the Democratic Republic of Congo-based Moto Goldmines Ltd from 2005 to 2009. He oversaw the development of the company's Moto Gold Project (Kibali Gold) from two million to more than 22 million ounces of gold. Dinning took the project from exploration to pre-development. The Moto Gold project was later taken over by Randgold Resources and AngloGold Ashanti for $600 million in October 2009.
Dinning has an MBA, a First-Class Mine Managers Certificate in Western Australia and South Australia and a Bachelor of Engineering in Mining degree.
John (Jack) Hamilton - Vice-president of Exploration
Jack Hamilton is a founder and the Vice President of Exploration at Sarama Resources. Hamilton has 35 years of experience as a professional geologist. Hamilton has worked around the world for international resource companies. Before Sarama, he was the exploration manager for Moto Goldmines in the Democratic Republic of Congo. At Moto Goldmines, he led the team that discovered the main deposits and resource at the world-class Moto Gold Project (now Kibali Gold) which has a resource of more than 22 million ounces.
Hamilton specializes in precious metal exploration in Birimian, Archean and Proterozoic greenstone belts. He has worked and consulted in West, Central and East Africa for the past 30 years with various companies, including Barrick Gold Corporation, Echo Bay Mines, Etruscan Resources Inc, Anglo American, Geo Services International and Moto Goldmines. Whilst at Moto Goldmines, he led the exploration team that took the Moto gold deposit from discovery to bankable feasibility. The Moto gold deposit was later sold to Randgold Resources and AngloGold Ashanti in October 2009.
Paul Schmiede - Vice-president of Corporate Development
Paul Schmiede is a major shareholder and the Vice President of Corporate Development at Sarama Resources. He is a mining engineer with over 30 years of experience in mining and exploration. Before joining Sarama Resources in 2010, Schmiede was Vice President of Operations and Project Development at Moto Goldmines. At Moto Goldmines, he managed the pre-feasibility, bankable and definitive feasibility study for the more than 22 million-ounce Democratic Republic of Congo-based Moto Gold Project (now Kibali Gold). Whilst at Moto Goldmines, he also managed the in-country environment, community studies and pre-construction activities. Before joining Moto Goldmines, he held senior operational and management positions with Goldfields and WMC Resources. At these companies, Schmiede was responsible for underground and open-pit operations as well as project development and planning.
Schmiede holds a first-class mine managers certificate in Western Australia and a Bachelor of Engineering in Mining degree. He is also a fellow of the Australasian Institute of Mining and Metallurgy.
Lui Evangelista - Chief Financial Officer
Lui Evangelista is Sarama's chief financial officer with 35 years of experience in accounting, finance and corporate governance with public companies. He has more than 20 years of experience in the mining industry - 10 years of which have been at the operational and corporate level with companies operating in Francophone Africa.
Evangelista held the positions of group financial controller and acting CFO at Anvil Mining which operated 3 mines in the DRC. He was an integral part of the senior management team that saw Anvil's market capitalization grow from C$100 million in 2005 to C$1.3 billion upon takeover by Minmetals in 2012.
Evangelista holds a Bachelor of Business in Accounting degree, a graduate diploma in business administration and a graduate diploma in applied corporate governance.
Simon Jackson - Non-executive Director
Simon Jackson is a founder, shareholder and non-executive chairman of Sarama Resources. Jackson is a Chartered Accountant with over 30 years of experience in the mining sector. He is the Chairman of Predictive Discovery and Non-Executive Director of African gold producer Resolute Mining. He has previously held senior management positions at Red Back Mining, Orca Gold and Beadell Resources.
Jackson specializes in M&A, public equity capital markets, management and corporate finance. His career has included corporate transactions in Canada, Australia, Africa and Indonesia. He holds a Bachelor of Commerce degree from the University of Western Australia and is a fellow of the Institute of Chartered Accountants in Australia.
Adrian Byass - Non-executive Director
Adrian Byass has more than 30 years of experience in the mining industry. He has focused his career on the economic development of mineral resources. He is skilled in economic and resource geology. Byass has experience ranging from production in gold and nickel mines to the evaluation and development of mining projects with listed and unlisted entities in multiple countries. He has also held executive and non-executive board roles on both ASX and AIM-listed companies.
Byass presently operates in a corporate and market-focused capacity on a national and international basis. He has board-level experience in mine development, capital raising and M&A in Australia and on overseas stock exchanges. Byass has played key roles in a range of exploration and mining projects in Australia, Africa, North America and Europe. These projects were based on a suite of commodities including gold, base and specialty metals.
He holds a Bachelor of Science in Geology and a Bachelor of Economics. Byass is a member of the Australian Institute of Geoscientists, a fellow of the Society of Economic Geology and a competent person for the reporting of mineral resources (JORC 2012).
Michael Bohm - Non-executive Director
Michael Bohm is a seasoned director and mining engineer in the resources industry. His career spans roles as a mining engineer, mine manager, study manager, project manager, project director, and managing director.
He has been directly involved in the development of multiple mines in the gold, nickel, and diamond industries, and made significant contributions to Ramelius Resources during its formative years. This experience is particularly important as Sarama is currently in the process of rebuilding its operations in the Eastern Goldfields region of Western Australia.
He is a current director of ASX-listed Riedel Resources and has previously been a director of ASX listed Perseus Mining, Ramelius Resources, Mincor Resources NL and Cygnus Metals.
Promising new gold projects in Western Australia, plus a large fully funded arbitration claim.
Maritime Resources
Investor Insight
With a fully permitted, high-grade gold project, established infrastructure and first gold production on the horizon, Maritime Resources is set to become Atlantic Canada’s next gold producer, positioning the company for significant re-rating and long-term growth.
Overview
Maritime Resources (TSXV:MAE) is a Canadian gold development company focused on generating near-term cash flow from the Hammerdown gold project, a high-grade past-producer in the prolific Baie Verte mining district of Newfoundland & Labrador. The project is fully permitted, de-risked and shovel-ready, with construction underway and first ore deliveries to the Pine Cove Mill expected in late summer to early fall 2025.
Hammerdown project site
Hammerdown benefits from significant infrastructure synergies, including proximity to paved roads, power, ports and Maritime’s wholly owned Pine Cove processing facility. Unlike many greenfield developers, Maritime is executing a bootstrap production model that leverages its installed infrastructure and local skilled labor to reduce costs, minimize risk and accelerate value creation through short term cash flow generation during a period of record high gold prices
Longer term, the company plans to build out a 100,000 oz/year production platform by incorporating nearby deposits (Orion, Stoger Tight, Deer Cove) and utilizing its idle 700 tpd Nugget Pond gold plant. Maritime’s regional land package includes more than 435 sq km of highly prospective ground with gold, VMS, and porphyry-style mineralization potential.
Company Highlights
- Near-term Gold Production: First production targeted for H2/2025 from the fully permitted Hammerdown open pit project.
- High-grade Gold Reserves: 1.9 Mt at 4.46 g/t gold (272 koz) proven and probable reserves support initial 35,000-45,000 oz/year production.
- Low-CAPEX Startup: Initial capital estimated at C$15 to $20 million, among the lowest in the sector for a new mine, leveraging Maritime’s fully operational Pine Cove mill
- Owned Processing Infrastructure: Pine Cove Mill (1,300 tpd, operational) and the Nugget Pond gold plant (700 tpd CIP circuit, on standby).
- Exploration Upside: 435 sq km land package includes multiple brownfield and greenfield targets proximal to infrastructure.
- Institutional Backing: Strong support from Dundee Corporation, Eric Sprott and other institutions.
- Fully Funded: recently closed $20 million hard dollar financing and $10 million private placement (live) to fund mine startup and repay the existing US$5 million note.
- Local Workforce Advantage: Fully staffed Pine Cove Mill with 100 percent local residents
Key Projects
Hammerdown Gold Project
The Hammerdown gold project is Maritime’s flagship asset and is strategically located near the town of King’s Point in the Baie Verte mining district of Newfoundland and Labrador. A past-producing, high-grade deposit formerly operated by Richmont Mines, Hammerdown is being redeveloped as a shallow open-pit operation. The project hosts proven and probable reserves of 1.89 million tonnes at an average grade of 4.46 grams per ton (g/t) gold for 272,000 oz of contained gold, making it one of the highest grade open pit projects in North America
A feasibility study completed in 2022 outlined annual production of approximately 50,000 oz over a 5-year mine life, with attractive economics including a pre-tax NPV (5 percent) of US$251 million at a gold price of US$2,500/oz and an all-in sustaining cost (AISC) of US$912/oz. Since then Maritime has taken steps to de-risk the project including acquiring the Pine Cove mill, allowing for significant savings in capital costs compared to using the Nugget Pond mill.
The processing plan entails crushing ore on site and trucking it approximately 130 km to the Pine Cove Mill. Maritime has completed all major permitting for the project, and construction began in spring 2025 with pre-stripping, civil works and crushing infrastructure installation. The company completed more than 8,750 meters of tight-spaced (10x10 meters) grade control drilling, confirming excellent continuity and high-grade intercepts such as 24.5 g/t gold over 13.9 meters, including 42.2 g/t over 8.0 meters. First gold production is expected in late summer to early fall 2025, with ramp-up to 700 tpd mill feed supported by the fully operational Pine Cove Mill.
Pine Cove Mill
Pine Cove gold pour
Located near Baie Verte, the Pine Cove Mill is a 1,300-ton-per-day gold processing facility recently brought back online after two years of care and maintenance. The mill flowsheet includes crushing, grinding, flotation, regrinding of the float concentrate and Merrill-Crowe leaching circuits for gold doré production. The facility will be upgraded with a new 500 hp regrind circuit (replacing a 150 hp unit), a ball mill inching drive, and an enhanced material handling system to optimize recovery and reliability. The site also includes a large in-pit tailings storage facility, existing waste dump capacity, and access to a deepwater port. Pine Cove has already produced 700oz of gold from processing low grade mineralized stockpiles from around the site. The mill is now preparing to receive and process feed from Hammerdown, with full integration scheduled for H2/2025.
Nugget Pond Gold Circuit
Nugget Pond Gold Circuit
Maritime also owns the 700 tpd carbon-in-pulp (CIP) gold circuit at the Nugget Pond Plant, located 40 km east of Pine Cove. Although currently idle, this plant represents a key component of Maritime’s long-term production strategy to scale toward 100,000 oz per year. The plant is fully configured for gold recovery and is well-positioned to process feed from future regional deposits or third-party toll milling. Maritime’s envisions Nugget Pond operating as a second production hub, enabling parallel processing capacity as the company develops additional deposits in the district.
Stoger Tight and Deer Cove Projects
Located within 10 km of the Pine Cove Mill, Stoger Tight and Deer Cove are advanced-stage deposits with near-term development potential. Stoger Tight hosts a historical NI 43-101 resource of 642,000 tons grading 3.02 g/t gold for 62,300 oz (indicated), with an additional 53,000 tons at 5.63 g/t for 9,600 oz (inferred). It is partially permitted and has the potential to become a satellite source of ore for Pine Cove.
Deer Cove is a high-grade system discovered by Noranda, featuring 500 meters of historic underground development. Recent drill results include 6.9 g/t over 25.1 meters, including 26.1 g/t over 3.6 meters. Stockpiles of 4,275 tons at 3.1 g/t gold have been identified. Both projects benefit from road access and proximity to infrastructure, making them ideal candidates for phased development and integration into Maritime’s hub-and-spoke production model.
Green Bay, Whisker Valley and El Strato Exploration Projects
Maritime’s broader exploration portfolio includes more than 435 sq km of prospective ground in the Baie Verte district, encompassing gold, copper, VMS and porphyry-style targets. The Green Bay project includes the Orion deposit, a near-surface gold target located along strike from Hammerdown. Whisker Valley is an epithermal gold system with porphyry potential, returning 6.2 g/t gold over 5.8 meters in previous drilling. El Strato hosts one of the highest-grade soil and bedrock anomalies in Newfoundland, with gold values up to 200 g/t in outcrop. Additionally, the Black Ridge VMS target features grab samples grading up to 12.6 g/t gold, 181 g/t silver, and 11.8 percent copper. These regional assets offer significant blue-sky potential and provide a robust pipeline of targets that could be developed and processed through Maritime’s existing infrastructure.
Management Team
Garett Macdonald – President and CEO
Garett Macdonald is a mining engineer with over 30 years of experience in mine development, engineering and operations. Former VP operations at Rainy River Resources, where he advanced the 8 Moz Rainy River project to construction prior to its $310-million sale to New Gold. He also served as VP project development at JDS Mining, leading the Curraghinalt feasibility study (+5 Moz gold), and held technical and management roles at Placer Dome, Teck and Suncor Energy.
Germaine M. Coombs – CFO and Corporate Secretary
A chartered accountant with more than three decades of financial leadership in the mining sector, Germaine M. Coombs is the former CFO of Aurelius Minerals and Stonegate Agricom, and former corporate controller at FNX Mining and the Iron Ore Company of Canada.
Perry Blanchard – VP, Environment & Sustainability
Perry Blanchard brings over 25 years of experience in health, safety and environmental leadership across major Canadian mining projects. Blanchard previously managed permitting and sustainability at Detour Gold’s flagship mine and Vale’s Voisey’s Bay operations.
Peter Goudie – Hammerdown Operations Manager
Peter Goudie is a veteran operations leader with over 35 years of experience in mining and contracting, including roles with Guy J. Bailey and Shoreline Aggregates. He manages day-to-day operations at the Hammerdown project, with deep knowledge of logistics, mobile equipment and site execution in Newfoundland’s mining sector.
Dwight Goudie – Pine Cove Mill Manager
Dwight Goudies is a mill operations specialist with over 40 years of metallurgical and processing experience at gold and base metal mines across Newfoundland and Labrador. He is the former mill manager at FireFly Metals and Rambler Metals & Mining’s Nugget Pond facility, and currently oversees all operations at the Pine Cove Mill.
Billy Grace – Chief Engineer
A mining engineer with more than 15 years of experience in mine engineering, project management and consulting, Billy Grace is the former general manager at Aureus Gold, and technical services manager at Newmont’s Musselwhite mine. He also worked at Golder Associates and Mining Plus.
Larry Pilgrim – Project Manager, Newfoundland Properties
Larry Pilgrim is an exploration geologist with more than 45 years of experience in Newfoundland. He is the former chief geologist at Richmont Mines and Rambler Metals, where he helped delineate the original underground reserves at Hammerdown and served as chief geologist during mine operations. He has been leading exploration activities for Maritime since 2018.
Eric Tremblay – Technical Advisor Mining
Eric Tremblay is a highly regarded mine builder with over 30 years of operations experience. He is the former GM at Osisko’s Canadian Malartic Mine and IAMGOLD’s Westwood and Sleeping Giant operations. Tremblay is currently the COO of Dalradian Resources, leading the multi-million ounce Curraghinalt gold project in Northern Ireland. Tremblay provides Maritime with expertise in mine construction, operational scale-up and technical risk management.
Paolo Toscano – Technical Advisor Engineering and Construction
Paolo Toscano has over 30 years of experience in engineering and construction. He most recently served as senior vice-president of engineering and construction for Calibre Mining at the Valentine gold project in Newfoundland and Labrador. Prior to Calibre, he was director of projects for Alamos Gold and New Gold.
Triumph Gold
Investor Insight
Triumph Gold offers investors exposure to a multi-million ounce gold resource base with established deposits, significant expansion potential, and new discovery opportunities across a true district-scale land package, all strategically positioned in the mining-friendly Yukon.
Overview
Triumph Gold (TSXV:TIG,OTC:TIGCF) is a Canadian gold exploration company strategically positioned to capitalize on the rising gold market. The company is primarily focused on advancing its 100 percent owned Freegold Mountain project, a district-scale property located in the Yukon Territory's prolific Dawson Range gold-copper belt.
Founded with a vision to discover and develop significant precious metal resources, Triumph Gold has assembled a portfolio centered around its flagship Freegold Mountain project. With over 20 mineralized zones identified along a 34 km stretch of the Big Creek Fault system, the company possesses significant exploration upside with established resources across multiple deposits. The project benefits from excellent infrastructure, being accessible via all-weather government roads, which provides cost advantages compared to more remote exploration projects.
The Yukon Territory has a storied history as one of the world's most famous gold jurisdictions, dating back to the legendary Klondike Gold Rush of the late 1890s that drew over 100,000 prospectors to the region. Today, the territory continues to be recognized as one of the world's premier exploration destinations, hosting world-class deposits like Victoria Gold's Eagle mine (3.3 million ounces), Western Copper's Casino project (8.9 million ounces gold, 4.5 billion pounds copper), and Newmont's Coffee project (4 million ounces).
The Yukon government has consistently demonstrated strong support for responsible mining development. The territory offers a stable regulatory environment, clear permitting processes, and collaborative relationships with First Nations, making it an attractive jurisdiction for resource development. Additionally, the Yukon Resource Gateway Project, a $360 million infrastructure initiative, continues to improve access to mineral-rich areas throughout the territory.
With geopolitical tensions, inflationary pressures, and currency devaluation concerns driving investor interest in safe-haven assets, gold exploration companies with substantial resource potential like Triumph Gold are well-positioned to benefit from this strengthening market cycle.
Company Highlights
- Resource Base: Combined indicated resources of 1 million ounces and inferred resources of 1.08 million ounces gold equivalent across the Freegold Mountain project
- Strategic Location: Positioned in the mineral-rich Dawson Range, home to major deposits including Newmont's Coffee, Western Copper's Casino, and Pembridge's Minto mine
- Multiple Deposit Types: Mineralization found in various forms (porphyry, epithermal, skarn) providing diversified exploration targets
- Expansion Potential: All deposits remain open in multiple directions with numerous untested satellite targets
- Fully Permitted: Exploration permits in place until 2025-2026 allowing for extensive drilling programs
- Experienced Leadership: Management team with proven track records in mineral exploration, mine development and capital markets
Key Projects
Freegold Mountain Project
The Freegold Mountain project represents Triumph Gold's flagship asset – a district-scale property that spans 34 kilometers along the prolific Big Creek Fault mineralization system in the Yukon. What makes this project particularly compelling is the presence of mineralization in every rock type across the property, including Paleozoic metamorphics, Jurassic intrusives and Cretaceous intrusives, each hosting different styles of precious and base metal deposits.
The project currently hosts three defined deposits – Nucleus, Revenue and Tinta Hill – with a combined resource of more than 2 million ounces of gold equivalent. What's particularly exciting about Freegold Mountain is that these deposits represent just a fraction of the more than 20 mineralized zones identified across the property. With extensive permitted exploration programs, ongoing geological work, and vast untested areas, Freegold Mountain exemplifies true district-scale potential where new discoveries could substantially increase the overall resource base.
Nucleus Deposit
The Nucleus deposit represents a compelling bulk tonnage oxide gold opportunity with similarities to Victoria Gold's Eagle mine. With indicated resources of 748,000 ounces gold equivalent and inferred resources of 189,000 ounces gold equivalent, the deposit features favorable metallurgy with approximately 77 percent cyanide recoverable gold based on preliminary testing. Recent drilling has expanded the resource by 50 to 100 meters both laterally and vertically, with mineralization remaining open in all directions. Drilling has also confirmed significant oxide mineralization extending up to 150 meters vertically, enhancing the potential for heap leach processing.
Revenue Deposit
The Revenue deposit is a substantial porphyry system with indicated resources of 252,000 ounces and inferred resources of 677,000 ounces gold equivalent. It shows similarities to Western Copper's Casino deposit but with double the gold grade. The deposit contains multiple high-grade zones including the Blue Sky and WAu zones, which were expanded through recent drilling programs. The company has identified a more than 5 km structural trend connecting various mineralized zones, suggesting significant resource expansion potential. Geophysical and geochemical surveys have identified numerous untested anomalies worth exploring.
Revenue - Casino deposits comparison
Tinta Hill Deposit
With inferred resources of 216,000 ounces gold equivalent, Tinta Hill is a polymetallic deposit with substantial gold, silver, copper, lead and zinc values. The property has historical underground development including two adits with extensive drifting completed in 1980-1981. There's a 25,000-ton stockpile from previous mining operations that could represent near-term cash flow potential. The deposit remains open along strike and at depth, with opportunities to extend mineralization through additional IP and ground magnetic surveys.
Exploration Properties
Beyond the three established deposits, Triumph Gold holds several promising early-stage exploration targets across the Freegold Mountain Project and beyond, including:
- Melissa Zone: A drill-ready target with similarities to the Nucleus deposit, featuring anomalous gold in rock samples and coincident multi-element soil and geophysical anomalies
- Tad/Toro-Big Creek: Located approximately 50 km southeast of the Casino deposit, showing intermediate sulfidation epithermal and porphyry-style mineralization across multiple zones
- Andalusite Peak: A copper-gold-silver porphyry target with three separate mineralized zones showing high-grade rock samples up to 68 percent copper, 2.77 grams per ton (g/t) gold, and 526 g/t silver
Coyote Knoll Silver-Gold Project
Located in central Utah, Coyote-Knoll is Triumph Gold’s most recent acquisition. It is approximately 40 km southwest of the prolific Tintic mining district, known for its rich mining history, with gold, silver, lead and zinc from both epithermal and carbonate replacement deposits. The Bingham Canyon copper-molybdenim-gold porphyry deposit is about 85 km away.
Following its discovery in 1988, Coyote Knoll underwent exploration work, including mapping, trenching, rock sampling, and induced polarization and magnetic geophysical surveys. Approximately 2,600 metres of RC drilling have been completed at the property to date, with compelling results including 1,350.36 g/t silver and 3.86 g/t gold over 3 metres. Historical rock samples returned high-grade silver and gold values, up to 6,730 g/t silver and 23.30 g/t gold, and 6,687.08 g/t silver and 26.37 g/t gold.
Historic drilling highlights at Coyote Knoll
A 12-ton representative bulk sample was also mined from a shallow open pit, centered over the east-west trending mineralized structure. Silver and gold epithermal mineralization was exposed over approximately 60 metres within the open pit and has been delineated for 1.5 km through surface trenching, sampling and shallow RC drilling.
Management Team
John Anderson – Interim CEO and Chairman
With over 20 years of experience in resource sector capital marketing, John Anderson brings strategic vision to company growth and management. His extensive background in capital formation and corporate development provides Triumph Gold with strong leadership as it advances its portfolio of projects.
Brian Bower – Lead Director
Brian Bower contributes 30 years of experience in exploration and mining to the Triumph Gold team. He has been a key member in the development of several significant mining projects including New Afton, Kemess South, Blackwater, Mount Milligan mines and the Casino deposit, bringing valuable technical and operational insights to the company's development strategies.
Jesse Halle – VP Exploration
With more than 25 years of experience in mineral exploration, Jesse Halle has specialized in advancing multiple porphyry copper-gold deposits in Yukon and British Columbia. His extensive work with similar deposits, including the Casino and Copper Mountain deposits, brings critical technical expertise to Triumph's exploration programs.
Marty Henning – Principal Geologist
Marty Henning contributes over 15 years of mineral exploration and mining experience to the team. His background includes focused work on construction, production and exploration at the New Afton block cave mine, providing valuable operational perspective to Triumph's exploration approach.
Graeme Hopkins – Chief Technical Officer
With 20 years of experience in data management and GIS, Graeme Hopkins has been involved with the Freegold Mountain project since 2008. His long-term knowledge of the project and technical expertise provides valuable continuity and insight to Triumph's exploration and development activities.
Emily Halle – Project Manager
Emily Halle brings over 15 years of experience in exploration and project management to the team. Her focus on porphyry copper-gold systems in British Columbia and Yukon, combined with additional experience in South Africa, Alaska and Eastern Canada, ensures efficient and effective management of Triumph's exploration programs.
Quimbaya Gold
Investor Insight
Quimbaya Gold’s strategic focus on Colombia offers a compelling opportunity for gold exploration in a prolific, yet underexplored region supported by a favorable permitting environment. The upside potential is worthy of examination by any savvy investor.
Overview
Quimbaya Gold (CSE:QIM) is a junior gold exploration company focused on its high-grade gold projects in Colombia. The company’s portfolio spans 59,057 hectares across three highly prospective regions in the Antioquia mining district. This region is responsible for approximately 50 percent of Colombia’s total gold production, equivalent to around 1 million ounces (Moz) annually.
Positioned right next to Aris Mining’s (TSX:ARIS) Segovia mine, Quimbaya leverages its proximity to established infrastructure and gold-rich geological formations. With Colombia being one of the most underexplored yet top mining jurisdictions in South America, Quimbaya’s projects are uniquely poised for significant discoveries.
Quimbaya’s projects benefit from Colombia’s favorable permitting environment, enabling faster transitions from discovery to production, compared to its global peers. Quimbaya’s strategy focuses on value creation through new discoveries and monetizing them via strategic transactions, including joint ventures and operational contracts.
Quimbaya has established a significant partnership with Independence Drilling, Colombia’s largest drilling company with over 40 years of experience. The agreement secures 100,000 meters of drilling over five years, with Independence Drilling accepting part of its payment in Quimbaya shares. This innovative structure demonstrates strong confidence in Quimbaya’s projects, ensuring cost-effective and efficient drilling operations.
The company’s management team brings extensive and deep expertise in exploration in Colombia, corporate finance and project development. Quimbaya trades on multiple exchanges: CSE (QIM), OTCQB (QIMGF), and FSE (K05).
Company Highlights
- Quimbaya Gold controls 59,057 hectares across three distinct projects in Antioquia, Colombia — renowned as the country's top mining department, accounting for over half of Colombia’s gold production.
- The flagship Tahami project is adjacent and on trend to Aris Mining’s Segovia mine, one of the highest-grade gold mines globally. Tahami benefits from its strategic proximity to Segovia and its potential for discovery of high-grade vein gold systems.
- Tight share structure (60 percent insider/family offices/institutions ownership) with a market cap of approximately C$11.45 million, ensuring alignment with shareholder interests.
- Quimbaya has entered into a partnership with Independence Drilling, Colombia’s largest drilling company, which secures an extremely cost-effective 100,000 meters of drilling over five years.
- Quimbaya utilizes software that allows for rapid and cost-effective acquisition of mining claims, giving the company a competitive edge in securing high-value assets.
- The technical team’s proven track record of major discoveries in Colombia positions Quimbaya as a standout explorer in the region.
- Fully funded into 2026 for multi-project advancement in Colombia after closing $4 million financing
Key Projects
Tahami Project (Flagship)
The Tahami project is located in Segovia, Antioquia, adjacent to Aris Mining’s Segovia mine, one of the highest-grade gold mines in the world. Spanning 17,087 hectares, Tahami’s geology features mesothermal veins with multiple mineralization events underlain by Precambrian metamorphic rocks consolidated within the San Lucas Gneiss unit.
Several vein systems from Aris Mining’s Segovia project, including the Sandra K and El Silencio veins, extend towards Quimbaya’s tenements. Both the Sandra K and El Silencio veins align with structural orientations of known high-grade deposits. The project also boasts more than 25 historical artisanal mines, underscoring its prospectively.
Quimbaya’s exploration plan for Tahami involves leveraging advanced geochemical and geophysical surveys to generate drill targets. These efforts will be complemented by modern 3D geological modelling and an initial drilling campaign to test high-grade zones. The integration of historical data and cutting-edge technology positions Tahami as a prime asset for discovery. The initial drilling campaign is anticipated to commence by late Q2 of 2025 and will prioritize the high-grade targets identified in preliminary exploration work.
Maitamac Project
Located in Abejorral, Antioquia, 80 kilometers south of Medellín, the Maitamac project spans 33,223 hectares and offers excellent road access. This emerging gold metallogenic district features mesothermal veins and potential porphyry gold-copper systems.
Initial surface rock samples have reported gold grades of up to 3.2 g/t, with stream sediments revealing over 1 g/t gold. Identified as a promising district by the Colombian Geological Services, Maitamac is positioned alongside the past producing ABE project and structural corridor which has produced mined shoots averaging 26 g/t gold.
Team
Alexandre P. Boivin - CEO and Director
Alexandre Boivin is an entrepreneur with more than 10 years of experience in corporate finance and Colombian mining. Through his extensive experience in the mining industry, corporate finance, capital markets and business development, Boivin has been instrumental in managing and funding early-stage companies through a network of partners and investors immersed in the capital markets. Under his leadership, Quimbaya Gold has secured significant investments to advance its exploration projects. His commitment to the company's growth is further demonstrated by his substantial shareholding in Quimbaya Gold.
Olivier Berthiaume - CFO and Director
Olivier Berthiaume is an accountant with over 12 years of experience working with early-stage companies in the Canadian markets. He holds a Bachelor of Business Administration from HEC Montreal and specializes in private-to-public market transactions, compliance, corporate governance, and corporate growth strategies. Berthiaume has held various director and officer positions in junior mining companies.
Sebastian Wahl - Vice-president, Business Development
Sebastian Wahl brings over 15 years of experience in the mining industry, with a strong focus on precious metals trading, capital markets, and corporate development. Wahl has played a pivotal role in shaping Quimbaya Gold’s strategic direction and elevating its external positioning during a critical growth phase.
Ricardo Sierra – Exploration Manager
Ricardo Sierra is a professional economic Geologist with over 18 years of exploration experience in Colombia-Chile-Cuba-Brazil in orogenic, mesothermal, porphyry type deposits, epithermal systems, and stratabound. Sierra started his career with ANGLO AMERICAN as an exploration geologist in greenfield and brownfield exploration, supervising diamond drilling on their Colombian properties. His knowledge in vein systems, critical in understanding mineralization processes, was honed while exploration superintendent with Continental Gold (now Zijin Mining Group) on their Buritica (Antioquia) deposit, also in their regional exploration (Choco, Nariño, Cauca, Antioquia). Sierra graduated in 2007 as a geologist from Universidad de Caldas (Colombia). He is a member of the Australian Institute of Mining and Metallurgy (MAusIMM) and is a qualified person (QP) as defined by National Instrument 43-101, also he is a Competent Person (CP) of Comision Colombiana de Recursos y Reservas Mineras (CCRR).
Dr. Stewart Redwood - Senior Technical Advisor
Stewart Redwood is a distinguished geological consultant with more than 40 years of experience in mineral exploration and economic geology, specializing in epithermal, porphyry and skarn deposits, particularly in Latin America and the Caribbean. His notable achievements include significant discoveries, including the San Cristobal silver-zinc deposit in Bolivia, the Romero gold-copper deposit in the Dominican Republic, and the Antamina copper-zinc project in Peru, recognized as the world's largest copper skarn deposit. Throughout his career, Redwood has held key positions in prominent mining and exploration companies, including as chief geologist Latin America for AngloGold Ashanti, founder president and CEO of GoldQuest Mining, and VP exploration of Colombia Goldfields (which merged with Gran Colombia Gold). He has been instrumental in the success of Gran Colombia Gold’s Marmato project (now owned by Aris Mining), currently an 8.8 Moz deposit in the construction stage.
Nicolas Lopez Villegas - Technical Advisor
A Colombian native, with over 28 years of experience focused in the mining district of Antioquia, currently the CEO of MINING BRAIN SAS, Nicolas Lopez, leads this consulting company advising on the implementation, development of sustainable mining projects all over Colombia. Prior to the establishment of his consultancy practice, Lopez spent 12 years as Colombia & Nicaragua's country manager for IAMGOLD, having devoted the previous 10 years with MINEROS SA as head of exploration & geology. Villegas played a pivotal role in major discoveries, including the first porphyry copper-gold deposit in the Colombian middle Cauca belt, known as Titiribi. a significantly rich gold-copper geological region. As a seasoned executive in gold exploration, Villegas holds a geology degree from Universidad de Caldas (Colombia), a Governance in Oil & Mining degree from Oxford University (UK) and he is a Qualified Person (QP).
Terence Ortslan - Advisor
Terence Ortslan is a seasoned resource executive with over 40 years of experience, having served in advisory capacities across the mining, metals, and fertilizer sectors. He provides guidance on investment and technical aspects of the industry, as well as strategic and policy advice tailored to mining companies. Additionally, Ortslan advises financial institutions on investment decisions, offers direction to international industry organizations, and consults with governments on fiscal and industrial regulations. He also supports universities in enhancing their educational standards and assists corporations with decision-making, boardroom leadership, shareholder value enhancement, and strengthening ES parameters. Ortslan holds a Bachelor of Engineering & Applied Geophysics and an MBA from McGill University.
Asara Resources: Advancing the Next West African Gold Camp
Asara Resources (ASX:AS1,FSE:ALM) is leading the next West African gold rush from a strategic position in Guinea’s underexplored Siguiri Basin—an emerging gold district with over 30 million ounces of historical and current gold production.
Asara Resources’ flagship Kada Kold project hosts a 923,000-ounce, oxide-dominant gold resource just 35 km south of AngloGold Ashanti’s 6.2 Moz Siguiri mine. The company is systematically advancing development using the proven “string-of-pits” model that has driven success across West Africa, guided by a seasoned team behind the Kiniero Project, now a cornerstone asset for Robex (TSX:RBX).
Asara’s near-term strategy focuses on three key priorities: accelerating resource growth with 33,600 metres of RC and diamond drilling planned for 2025; advancing a low-CAPEX, oxide-first development approach that capitalizes on free-dig saprolite, strong gold recoveries, and a conventional CIL flowsheet; and preserving upside exposure to copper and silver-zinc through its Loreto joint venture with Teck and the optional Paguanta asset in Chile.
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.
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