Each one in plain English, with the numbers worked through for a shareholder.
27 May 2025resource reserve update▲ GoodMajor
On May 23, 2025 the company filed on Sedar+ the full NI 43-101 technical report for the Preliminary Economic Assessment and an updated Mineral Resource Estimate for Buckreef, prepared by P&E Mining Consultants; the May 27, 2025 6-K furnishes it with author consents and a press release. The text provided does not include the updated resource numbers, so whether they replace the May 2020 estimate cannot be stated. This is the formal report behind the April 22, 2025 PEA announcement.
On April 22, 2025 the company announced a Preliminary Economic Assessment (an early-stage study) for the next Buckreef expansion. Per the headline, it shows a pre-tax NPV (5% discount) of US$701M at a gold price of US$2,296/oz, rising to US$1.2Bn at US$3,000/oz. The filing is only a cover form; production, cost and capital details are not included, and a PEA is not a feasibility study. It advances the sulphide/expansion plans from earlier years (an inference).
On January 14, 2025 the company reported, per the headline, more high-grade intercepts at Stamford Bridge, with the zone extended another 25 meters. The filing is only a cover form, so no grades or resource figures are available. It continues the Stamford Bridge drilling reported in November 2024.
On November 12, 2024 the company issued a press release saying, per the headline, that a new 'Stamford Bridge' shear zone was extended another 50 meters with another best drill intercept. The filing is only a cover form, so no grades, hole details or resource impact are given, and Stamford Bridge is a zone not mentioned in earlier context.
On May 15, 2023 the company issued a press release on near-surface drill results; per the headline, Anfield and Eastern Porphyry zones show results such as 14 m at 3.5 g/t gold including 3.0 m at 10.9 g/t. The filing is only a cover form, so no further detail is available. This follows up on the Anfield zone discovered in 2021, where drilling was planned.
On January 9, 2023 the company announced, per the headline, that gold mineralization of the Buckreef Main Zone extends to the southwest, with intercepts including 34.8 m at 1.26 g/t (including 10.0 m at 3.08 g/t) and 16.5 m at 2.01 g/t. The filing contains only the cover form, so no further detail or resource impact is available. It continues the Main Zone extension drilling begun with the northeast extension in 2022.
On December 12, 2022 the company released metallurgical drill hole assay results, headlined as including 106 m at 4.19 g/t, 28 m at 10.68 g/t, 123 m at 2.69 g/t and 121 m at 2.96 g/t gold. The filing provided is only the cover form; the release body is not included, so no detail beyond the headline is available. It continues the sulphide metallurgical work flagged earlier (an inference from the 'metallurgical' label). The cover also shows a new head office address in Oakville, Ontario.
On June 2, 2022 the company reported that northeast step-out drilling extended the Buckreef Main Zone by 250m to 1.8 km (a 16% increase in strike length), with intercepts such as 28.0m at 3.27 g/t gold. It has drilled 21 holes (7,415m) there, added a second drill rig and planned about 10,000m more drilling, including infill at Buckreef West and starting at Anfield, continuing the exploration threads from 2021; no new resource estimate is given.
On June 21, 2021 the company announced a second new discovery in under two months, the Anfield Zone: three parallel gold structures totalling 2.9 km of strike, about 500m east of the Buckreef Main Zone. Results are early-stage surface grab samples (up to 37.52 g/t), with drilling planned for 2021 and 2022, so no resource has been defined yet.
On May 3, 2021 the company announced a new discovery at Buckreef West, a gold-bearing zone next to the Buckreef Main Zone, drilled over 400m of strike and open to the south and at depth (31 holes, 2,903m). Best intercepts included 4.57m at 6.4 g/t gold and 5.57m at 4.95 g/t; no resource estimate for the zone is given, and the company says infill drilling is still needed to try to upgrade it.
