Junior Gold Firm Targeting 350,000 Oz/Yr in the Golden State
by Mike Fagan
KORE Mining (TSX-V: KORE)(OTC: KOREF) — currently trading around C$0.80 per share — has announced its 2021 exploration plan for its Long Valley Gold Project, California, which will include an initial 5,000 meters of drill testing of high-priority targets at the main deposit area with the potential to expand to 15,000 meters.
The phase-one program will also include a satellite survey and ground geophysics at its newly-staked 14,105 acres of claims at the Long Valley project.
KORE Mining president & CEO, Scott Trebilcock — whom you’ll be hearing more from in just a second — stated via press release:
KORE Mining is advancing two 100%-owned gold projects in California with a combined 3.9 million gold ounces in the ground; the Long Valley Gold Project and the Imperial Gold Project — with Imperial being the flagship at a 2.2 million ounce oxide deposit.
A mine plan is currently being devised for Imperial targeting an initial 150,000 ounces of gold production per annum — growing to 200,000 in years two and three. Currently, the company has 150 drill pads in the permitting process and expects to have those permits in-hand by the midpoint of this year.
The Long Valley Gold Project boasts an estimated resource of 1.7 million ounces and is open for growth. As noted, permitting is underway for 15,000 meters with drilling expected to commence in May-June of this year.
KORE mining is well-funded with C$5 million in the bank and is well-structured with 106.2 million shares outstanding with the majority of that held by strategics and insiders — including veteran mining investor, Eric Sprott, who owns 26% of the company.
Our own Gerardo Del Real of Junior Resource Monthly sat down with KORE Mining CEO, Scott Trebilcock, to discuss the team, the structure, the projects, and the plans and process for a projected 350,000 ounces per year of gold production in California. Enjoy!
You can also find more information on KORE Mining at its corporate website.
Yours in profits,
Editor, Resource Stock Digest
Mike Fagan has mining in his blood. As a teenager he staked countless gold and silver properties in Nevada alongside his dad, Brian Fagan, who created the Prospect Generator model that’s still widely used today in the resource space. One of those staking projects was put into production by a major Canadian mining company — a truly rare and profitable experience. That background uniquely qualifies him as a mining stock speculator. One of the most well-known names in the business, Mike is now putting that experience to use for the benefit of Resource Stock Digest and Hard Asset Digest readers.