I caught up with CEO Adrian Rothwell to get an update on Kore Mining. We talked about their impressive drill results from earlier in the year, what plans the company has next, and the $4,000,000 Strategic Investment made by Macquarie.
Hi Adrian, welcome back to The Next Bull Market Move. Since our last interview back in November there has been some exciting developments for Kore Mining. At the start of the year you had a fantastic set of results at your newly discovered Gold-Copper porphyry FG project. Can you talk to us about this? I understand what you might be looking at is potentially a massive mineralized system. Give us some details.
Hello Kerem. It is my pleasure to be speaking with you again. In the 5+ months since we last spoke our focus has been on building familiarity with Kore and our assets amongst industry participants, investors and other parties. We still have a long way to go and I am very excited to realize what I still consider a “value” investment over the coming months.
As you note, we had some fantastic results at Gold Creek and made a discovery at the FG Gold-Copper project. The FG project, in particular, had been largely ignored as a potential porphyry since gold was discovered on the project in the early 1980’s.
This is despite being located in a well-known porphyry district and with production nearby. Kore had compiled years of data on the project stretching back to the 1960’s from major mining companies such as AMAX, Rio Tinto and Noranda, who were all exploring for copper on the project area.
Drilling in the newly staked “Nova Zone” confirmed near surface massive sulphides that contain both gold and copper. One of the best intercepts in this very small program revealed 0.52% copper equivalent (with copper, gold and silver) over 32.65 metres.
These massive sulphides are part of what appears to be a large, multistage ascending intrusion that covers an area of approximately 2.5km x 1.0km. This intrusion so far has all of the markers of a copper gold porphyry, with detailed mapping and rock sampling being the next stage of the program.
After such a great set of results, what has Kore Mining been up to since January? And do these results now change your plans for the rest of the year?
January to April is a busy time in the junior mining sector, and no exception for Kore with marketing and site visits. We have also been working on securing financing to advance our flagship Imperial project.
This has resulted in Macquarie Bank, one of the world’s largest resource investment institutions, providing a strategic investment of $4,000,000 in Kore. This is a huge vote of confidence in the Kore team, our project and our execution plan.
The excellent BC results don’t change our focus, and now knowing what we have acquired, we can look at all strategic alternatives for advancing those projects at the right time.
I understand you also have a new addition to the team - Darin Wagner - which perhaps demonstrates the significance of what you may have within your projects. Can you talk to us about this?
Sure. Darin Wagner was engaged by Kore as an advisor to the Board. With his former experience in permitting the Castle Mountain project, also in California, and now owned by Equinox Gold (TSXV: EQX), Darin provides excellent insight into permitting in the United States.
As we grow Kore, we also hope to draw on Darin’s experience gained in helping him to create and grow West Timmins Mining Inc.
In regards to news flow for the company going forward, what can investors expect? And give us an overview on your current cash position?
News will be a function of success on the Imperial program and other project efforts as mentioned previously. Investors can expect us to focus on updated technical studies on Imperial, as well as regular updates on exploration and community programs.
Kore’s other projects may take a back seat for now, but we do have strong interest from industry participants to help us grow these resources – for us, the challenge will be to optimize shareholder value.
We will have sufficient cash for the foreseeable future and for permitting Imperial.
Would you describe Kore mining as a junior that is now positioning itself for a recovery within the gold price, and that is perhaps leveraged to a market that can enjoy big run ups in price?
I have been a firm believer that, to succeed in the resource sector, the opportunities are created in low price environments, such as this one. Kore has been accumulating quality projects and ounces, with a global 5moz Au across all categories.
With a recovering gold price, juniors with the best assets will get the most torque and the earliest investment. This is how we are positioning Kore.
And finally, is there anything else you would like to share with investors who are perhaps looking at Kore Mining for the first time?
I think for those that take a global perspective on the resource sector, they will see Kore as a compelling story. Quality assets in safe jurisdictions attract strategic opportunities, such as the investment by Macquarie. I would invite your readers to take a closer look at Kore on our website, www.koremining.com.
Many thanks Adrian,
The Next Bull Market Move
For more information on Kore Mining visit https://www.koremining.com
To view disclaimer click here