Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Decade Resources (TSXV: DEC) and Teuton Resource (TSX: TUO) announced that they have received drill permits for the Del Norte property, located in British Columbia’s Golden Triangle.
Decade optioned the property from Teuton in January of 2020 with terms allowing Decade to earn up to a 55% interest in Del Norte by spending $4 million over a five year period.
A definitive source for the placer gold in these streams is yet to be determined
In a press release, Decade said its team has prepared an “apex” pad on a nunatak in the south Nelson glacier allowing for testing veins and breccias associated with the LG vein.
“Drilling will occur along three different azimuths. Due to the intended length of holes, any intersections will be appreciable distances apart. The holes are testing an indicated zone that may be separate from the main LG vein based on new interpretations of previous data,” the media brief states.
“The postulated new zone was intersected in the only two deeper holes testing the area; one 2004 and one 2005 hole. These holes were at the edge of the ice surface during the 2004 and 2005 years of exploration. The new zone called the LG Deep zone is west of the main LG structure and east of the newly discovered Eagles Nest zone.”
The 5,830-hectare Del Norte project is located five kilometres south of the town of Stewart. Three gold-bearing streams cut through the property –Nelson, Del Norte and Willoughby— one of them the subject of a placer operation by Cominco in the 1930s.
Decade said that a definitive source for the placer gold in these streams is yet to be determined.
