1) For $0.61 / share or about $77 million market cap investors can own a piece of the newest gold belt in Canada (Spences Bridge Gold Belt), which our technical team thinks is the source of the Fraser River Gold Rush back in 1857 which drew thousands of prospectors to the area.
a. Along with gaining exposure to the new and emerging gold belt investors get 4 very large properties across this belt – 1 of which has already made a significant gold discovery.
b. The Shovelnose Gold Property drilled 17.70 metres of 24.50 g/t Gold and 107.92 g/t Silver in late 2018.
c. The company just released its first ever maiden resource estimate on this property of over 1 million ounces of gold. 75% of which is in the higher confidence indicated category. 95% and 96% Metallurgical recovery and non-refractory. A great start for a maiden resource.
d. This is just the start, we have a drill turning right now on an exciting new zone called FMN where the company reported the highest gold-silver intercept (857.64 gram-metres) ever drilled on the Shovelnose gold property, hole SN22-212 (23m of 37.24 g/t gold and 214.70 g/t Silver) is over 2 kilometres from the heart of the South Zone resource.
e. Our technical team also believe more ounces can be added around the South Zone resource area too. In fact just recently (Tuesday, February 22nd) Westhaven drilled 3.13 Metres Of 45.23 g/t Gold and 195.64 g/t Silver within 8.00 Metres Of 20.22 g/t Gold and 83.97 g/t Silver at the Alpine Zone.
f. We are still very much an exploration story with several targets on this large and underexplored property.
g. Management and Insiders are very aligned with shareholders with 25% ownership and are doing everything in our power to unlock more value for shareholders.
2) We believe this property and new gold belt has the potential to host multi-million ounces in the future similar to the Hishikari Mine in Japan, or Fruta del Norte.
3) We have ~1.5 million cash on hand and an additional $2 million coming back from the government in the form of a tax credit along with a management team that has a track record of exploration and development success.