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.
Kore mining has increased its wholly owned land holdings in the southern part of British Columbia’s Cariboo gold district, to 1,000 sq. km – the company’s claims now cover 110 km of the prospective Eureka structural trend, host to its FG and Gold Creek orogenic gold projects.
“It’s a rare occurrence when a company controls a dominant position in a gold district, particularly in a safe and stable jurisdiction,” Scott Trebilcock, the company’s CEO, said in a release.
According to Kore, the company is now the dominant land holder in the southern part of this district; Osisko Gold Royalties controls the northern portion, with its Cariboo (Barkerville) project. The Cariboo region has a long-standing history of gold mining with a local power supply, road network and a skilled labour force.
A 5,000-metre drill program is underway at the FG project
To add these holdings, Kore staked 36 claims, covering 710 sq. km, and acquired 21 claims, for an additional 55.7 sq. km of ground; the company has also identified new exploration targets within these grounds.
A 5,000-metre drill program is underway at the FG project, with over 1,700 metres completed since the end of June. The 130-sq.-km project hosts an orogenic gold deposit, with an existing measured and indicated resource of 15.2 million tonnes grading 0.78 g/t gold for a total of 376,000 oz. and an additional 27.5 million inferred tonnes at 0.72 g/t gold totalling 634,900 oz. These are derived using a 0.5 g/t gold cut-off grade.
(This article first appeared in the Canadian Mining Journal)
