Part of the challenge in exploration is matching data to theory at the tip of a drill. When Canadian Orebodies (V.CORE) purchased the Black Raven property in April 2017, the initial data that was inherited included a set of historical drill cores which had been drilled by a prior operator, Entourage Metals. This core suggested that there was a narrow, high-grade vein which was called the Super G.
In one sense, White Gold (TSX-V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) could be considered famed Yukon prospector Shawn Ryan’s project development company. Years ago, Ryan explored and staked swaths of the Yukon’s Dawson Range to the south of Dawson City. The claims were optioned to many junior exploration companies. The companies went in, did the work, significant discoveries were made by some that led to take outs by majors like Kinross and Goldcorp, but unfortunately for others, they ran out of time and money, so all those claims reverted to Ryan. Shawn spent the next 3 years reviewing all the data, picking the best projects, assembling them and then partnered with PowerOne Capital to create White Gold Corp where all the properties were rolled into, with the goal of owning and exploring the entire land package systematically and with a regional view of the district.
Canadian Orebodies (V.CORE) was very quiet over the summer and early fall. Few press releases. No hype. Just prospecting and then an October announcement of a drilling program at the company’s Wire Lake project. As Gord McKinnon put it in this release, “This first phase of drilling is designed to test six target areas, several of which are virgin discoveries made by our prospecting teams over the last two seasons that have never seen any advanced exploration or drilling”.
The Canadian Cannabis market peaked – using the Canadian Marijuana Index – in early January of 2018. The Index topped 1000. It dropped a bit from there and, the Monday before legalization on Wednesday, October 17, touched 858. The index is now hovering around 500. Reality has caught up with the recreational marijuana business and the market caps of many of the producer stocks are adjusting downward to reflect that reality.
Marathon Gold (V.MOZ) has gone from being a gold explorer to a gold mine developer over the last two years. Phillip Walford, the company’s President and CEO, is supervising this transition and was very pleased with the company’s updated Preliminary Economic Assessment (PEA).