“It’s a large epithermal deposit and we’ve got our 43-101 resource out. It’s still open in all directions. These latest drill holes support that. And, obviously, it’s open at depth, with the holes ending in high grade material. I think today’s assays are great. They support the resource model and they likely will expand that resource model to the southwest and to the east a little bit.
“As you know, New Gold Inc AMX:NGD has made us an offer that we’ve accepted. That’s going to our shareholders in the coming month. We’re happy to work with New Gold, we love their company. We like what they’re doing and think they’re the company to take this thing right through to production.
“Blackwater is a huge new discovery in Canada, and I think it’s got the potential to grow a lot more than what we’ve got already. Mostly because we haven’t drilled the north half off as much as we’ve drilled the south half. There’s a lot more potential in drilling going forward in the north half of the property.
“We’re still running Blackwater for the next couple of months. As far as we know, New Gold is going to stick to our plans, and they are to drill 30,000 metres this year, possibly moving up to 40,000 or 50,000 metres. Also, we will put a preliminary economic assessment out to see if this thing is going to be worthy of going to production. Everything points to it being worthy right now, and I think we can get it to production.
“I can’t wait to work with New Gold on this and move it forward.”
View Press Release Summary
View Company Profile