The Northern Miner is excited to bring our members the latest information on key junior miners in a new format: live video presentations.
On December 15th, junior mining investors will get to engage directly the CEO of KORE Mining, Scott Trebilcock, via our live, industry-leading streaming platform.
KORE Mining (TSX-V: KORE; OTCQX: KOREF) has a portfolio of North American gold projects with leverage to gold prices.
At the end of November, KORE announced plans to divide the company into two stand-alone companies, a U.S. gold developer and Canadian gold explorer. The spin-out would, through the US development entity, provide investor exposure to low-cost gold development and merger and acquisition potential. Through its Canadian arm, investors would retain large-scale exploration upside in an established jurisdiction.
KORE’s U.S. development projects include the Imperial and Long Valley oxide gold projects in California. The two heap leach development projects are simple, low cost and economically robust with potential to produce nearly 250,000 oz. of gold per year.
Imperial is in Imperial County, near Equinox Gold’s (TSX: EQX) Mesquite mine. A 2020 preliminary economic assessment (PEA), at US$1,600per oz. gold, showed a post-tax net present value, at a 5% discount, of US$450 million with a 52% internal rate of return (IRR). The eight-year mine would produce an average of 146,000 oz. of gold annually. Imperial includes an 81-sq.-km, 28-km long exploration trend open for resource growth and new discoveries.
In September, KORE also released a PEA for the Long Valley project. The study, also completed at US$1,600 per oz. gold, estimated a post-tax net present value of US$273 million, at a 5% discount, with a 48% IRR. The seven-year mine would produce an average of 102,000 oz. of gold a year. Long Valley is now permitting a drill program for 2021, to expand the oxide resources and test for high-grade sulphides.
In Canada, KORE holds the FG Gold and Gold Creek exploration projects – these cover 1,000 sq. km in the Cariboo gold district in British Columbia, an experienced mining jurisdiction that includes Osisko Development’s (TSXV: ODV) Cariboo gold project and several operating copper-gold mines. KORE’s 2020 drilling campaign discovered a down-dip extension of shallow resources, extending the resource potential by over 300% while also opening up options for underground mining. Assays are pending for 14 holes – 10 holes hit the new deeper zone.
KORE has a strong treasury, insiders at a 38% ownership and a strategic investor, Eric Sprott, with a 26% stake. More information on KORE can be found at www.koremining.com, by email at firstname.lastname@example.org or telephone at 888-407-5450.
— The preceding article is PROMOTED CONTENT sponsored by KORE Mining and produced in cooperation with The Northern Miner.