Wednesday 28th September 2016

Resource Clips


A Fresh Look

Jayden Resources leads the new class of Stewart Camp mining companies

By Kevin Michael Grace

David Eaton, the CEO of Jayden Resources has a wealth of experience in hands-on entrepreneurship, even if he is missing the “formal schooling” in business. And his knowledge leads him to conclude that Jayden’s Silver Coin Mine in northern B.C. is going to be a winner.

Eaton recounts, “I started in this business as a runner out of high school, working on trading desks at the old Vancouver Stock Exchange. I learned from the street level on structuring deals, structuring finance, every aspect of the deal right up to running a public company.”

He then went into land development, throughout North and Central America, before, in his own words, “becoming bored with it.” The lure of starting and building companies was just too strong. “Now I’m chairman of the Baron Group, which was set up with the backing of Joseph Wan. He took me under his wing. We do everything from marketing to geological services to finance. Everything from A to Z.”

The Baron Group, established 1998, is headquartered in Hong Kong with offices in Beijing, Macau, Vancouver and New York. Eaton likes to refer to the “Baron platform,” which is how he describes the “one-stop” shop the company has built for its clients. Baron facilitated the June changeover from Pinnacle Resources Ltd. to Jayden Resources Inc., a name Eaton says was chosen primarily to “reflect the large Asian shareholder base.” Since June, Jayden has been trading on the TSX Venture Exchange under the symbol JDN.

The Silver Coin site, approximately 1,255 hectares, is located in the Stewart Camp, 25 kilometres north of Stewart. Prospecting began there in 1898, and the area saw significant exploitation of gold (two million ounces) and silver (43 million ounces) at the Silbak-Premier Mine and tremendous exploitation (420 million pounds) of copper at the legendary Granduc Mine.

Silver Coin is 70% owned by Jayden (with an option for another 10%) and 30% owned by Mountain Boy Minerals. It was drilled extensively in the 1980s and 1990s, and 60,000 ounces of gold was mined then. From 2004 to 2008, Pinnacle and Mountain Boy drilled 292 surface holes and cut 75 surface trenches.

Under Jayden’s management, activity at Silver Coin is moving into top gear. Why now? According to Eaton, “We brought a fresh look to an old project. We believe there’s a world-class gold deposit there. We got lucky, and we were able to take control of this thing during the ’08 downturn. I believe we can put this on a path to production, and I believe we bring the knowhow and the expertise.”

As Eaton points out, Jayden is hardly the only company expanding in the region. “If you look at what’s happening up at the Stewart Camp, especially this year, you’ll see companies like Great Bear, Mascot and Ocean Park are bringing new life to it. A whole bunch of money is coming into the Stewart Camp and that has to do with the precious metals prices as high as they are.”

Gold traded just over $400 per ounce in 2004. Today, the price hovers over $1,100, with many believing it will go substantially higher.

Jayden has planned another drilling project this year and has hired AMEC Earth and Environmental to perform second-stage environmental work. The work is extensive and expensive but a pittance compared to the money saved by Stewart Camp’s location. Eaton enthuses, “A road runs right to us. Right there that saves us a hundred million bucks. Usually you have to fly in by helicopter. And we have power close by. That just saves massive amounts of capital.”

Above all what distinguishes Silver Coin for David Eaton is this: “It’s one of the only projects I’ve been involved with that actually has a deposit that we can grow. I believe we can double this up. We have the proven reserve.”


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