1911 Gold Corp – Comprehensive Exploration And Development Strategy At The True North Project In Manitoba
Shaun Heinrichs, President and CEO of 1911 Gold Corp (TSXV: AUMB) (OTCBB: AUMBF), joins me to for a comprehensive exploration and development update for advancing their True North Project, which includes a permitted mine and mill complex located on the Company’s 100%-owned Rice Lake Gold property, spanning 61,647 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba, Canada.
Shaun outlines how 1911 Gold believes its land package is a prime exploration opportunity, on a brownfield site, with the potential to develop a mining district centered on expanding resources and eventually moving back into the development of the past-producing True North complex. In addition to the permitted mine, there is a 1300 tpd permitted mill in place, which is expandable to 2250 tpd, which would have access to cheap hydroelectric power, and there is a permitted tailings area.
There is an ongoing aggressive exploration program underway at surface for shallow high-grade targets as well as at depth, at their 2 new discoveries: the San Antonio West and San Antonio South East. The ongoing drilling is expanding the known resources of around 1.1 million ounces of gold in all categories. There will be a steady stream of exploration updates over the balance of this year. Additionally, this exploration date will be fed into future resource update slated for early in 2026.
The next major milestone for the company will be incorporating mine modeling and engineering models as the company works towards a Preliminary Economic Assessment (PEA), anticipated by year-end. Shaun also highlights that after the PEA in Q4, and the resource estimate update in Q1, that another key future milestone will be 2 different trial mining and bulk samples slated for the middle of next year. These will be crucial in confirming and comparing to the data outlined in the PEA, for acting as a proof-of-concept, and the bulk samples will be processed at their mill and bring in non-dilutive capital to the company during the learning process. The company is financially sound, and cashed up for all work initiatives through those bulk samples next year.
If you have any questions for Shaun regarding 1911 Gold Corp, then please email me at Shad@kereport.com.
