Darcy Marud, President and CEO of Western Exploration (TSX.V: WEX) (OTCQX: WEXPF), joins me to introduce the gold and silver exploration-focused Aura Project, consisting of the Doby George and Gravel Creek/Wood Gulch Projects in Elko County, Nevada.
The Aura Project has a N.I. 43-101 Compliant Resource, last updated in 2021, of 607,000 ozs of gold and 3,169,000 silver ozs in the Indicated category @ (14,237,000 tonnes @ 1.43 AuEq g/t), and 578,000 gold and 6,115,000 silver ozs in the Inferred category @ (12,102,000 tonnes @ 1.71 AuEq g/t).
Dan breaks down where the majority of past work has been done exploring and defining the resources around the Doby George Project, which is a high-grade oxide gold deposit, ideal for development as an open pit project. This project is on US Forest Service land, with a Plan Of Operations permit for exploration through 2028 and renewable after that, and a substantial amount of metallurgical testing that has been completed and still underway, as the company continues to derisk this project moving toward a key technical report and update in mid-2024.
Next we look at the historic production from prior operators out of the Wood Gulch / Gravel Creek complex, where Wood Gulch produced 646,500 tonnes and a historic resource that averaged 3.36 g/t Au and 23.65 g/t Ag. There was a new discovery at the Gravel Creek area of the project in 2013, where – Discovery Hole # WG373 intercepted 29 meters of 3.42 g/t Au and 58.7 g/t Ag, and further exploration has shown that this area of the overall complex is very similar in mineralization to the Wood Gulch area of the project. We also reviewed the opportunity for future upcoming exploration to test the “gap area” between these 2 areas and that it all could potentially connect into one larger system. The Company has another drill result to release to the market in the next few weeks, and is making plans for outlining the 2024 exploration program.
We wrap up with having Darcy highlight his extensive background in the mining industry, the pedigree and experience of the management team and board of directors, and a detailed breakdown of the key financial metrics and strategic shareholders, including a 58% position from Golkonda, and a 16% position from Agnico Eagle.
If you have any questions for Darcy about Western Exploration, then please email me @ Shad@kereport.com.
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