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Gold79 Mines (TSXV:AUU) CEO Derek Macpherson discusses the company and its ongoing projects in Nevada and Arizona, “We have the Tip Top project in Jefferson Canyon, Nevada and the Gold Chain project in Arizona. At Jefferson Canyon, we’ve been permitting towards our main drill program — they’re following up on some really good historical results from the 1980s. At Gold Chain, we’ve actually been growing the land package. They’ve done some initial exploration, did a main drill program in the fall of last year, and then have done some follow up sampling. And there’s some really good recent results from our Tyro mine project.”
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In fall of 2021, Gold79 Mines signed a deal to acquire patented claims and began drilling mere days later based on preliminary work, comprising four holes that hight two grams per ton at 20 meters. Macpherson says, “I think the impressive part is that 600 meters from that drilling we hit two-and-a-half grams per ton at 25 meters from a chip sampling across the vein underground. That’s really starting to demonstrate continuity of grade over a large area.”
Macpherson discussed the underground sampling at Tyro and Sheep Trail, which holds another set of patent claims that we acquired earlier this year. He notes, “The focus with the Sheep Trail claims is we want to follow up on the preliminary data that we collected — we’ve also recently cleared some geophysics across the entire project. We’re going to couple those results within in-house samples to decide where the next set of drill targets are. I would expect that we will likely be drilling in fall 2022 at Gold Chain.”
As to the company’s approach to creating a property package, Macpherson says, “The reason is that it’s that much harder. Instead, each of our projects have 100-plus drill holes in them — all of them have returned economic grades from that drilling, and some of them are very spectacular. Part of our logic and strategy behind building this land package is that we know there’s gold mineralization underneath.”
Speaking to Gold Chain and determining the location of resources, Macpherson notes, “We took these historic past producing mines, did some initial sampling work and mapping, and understand where they are. Now we’re applying some additional modern techniques like geophysics to it — and that puts us in a great position to decide whether there is a deposit of scale there or not. By having this trove of historic data, we’re reducing the risk for our investors on us making a discovery.”
As for next steps, Macpherson states that the priority is its Nevada project, noting, “We’re right at the finish line for those Jefferson Canyon permits and plan to drill this summer,” detailing the other priorities as advancing Gold Chain where investors can, “Expect sampling results from Sheep Trail.”
Macpherson notes, “We’re moving ahead. We’re in very good shape. And frankly, when we get those Jefferson permits, I think we’re going to be in a good shape to drill. There’s a real opportunity to get yourself positioned at the current share price. Myself and our CFO have been out in the market buying stock pretty steadily because we very much believe in what the potential of Gold79 is and how good our projects are.”
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The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.