General Precious Metals
Nevgold (TSX-V: NAU)(OTC: NAUFF) CEO Brandon Bonifacio on Drilling for a Billion Dollar Asset in Nevada
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of Nevgold, Mr. Brandon Bonifacio. Brandon, how are you today?
Brandon Bonifacio: Good, thanks, Gerardo. How about yourself?
Gerardo Del Real: I'm well. I'm well. It's great to have you back on. The last time you and I spoke, we talked about a few things. We talked about the opportunity. We talked about the fact that you continue to hit oxidized mineralization over wide, wide intercepts. And we talked about the steadiness with which you've been able to put out news, and it's hard not to notice. And I know we talked a bit off air, but it seems like every 30 days you're spot on with the news release. The latest one was a fantastic one that the market really received well. You intercepted 0.86 grams per tonne oxide gold over 175.2 meters and 0.83 grams per tonne oxide gold over 126.2 meters at Limousine Butte. Those are fantastic numbers, especially being that the projects in Nevada. Can you provide some context there? Congrats, by the way.
Brandon Bonifacio: Thanks very much, Gerardo. And I guess with our steadiness of news releases, that also gives us the opportunity to catch up every month, which has been great. Yeah, very excited with what we just came out with. I think we've been extremely steady with our news releases. Like you touched on, it's been month-over-month for the last three months, and we see that continuing for the foreseeable future with a number of other holes at the lab, which look very exciting.
And in terms of the one we just released, I think this is further building on some of our past releases that have occurred at the Resurrection Ridge target area. And then this one was focused on the Cadillac Valley target area. And it's pretty clear, we're building a large mineralized domain of oxide mineralization at Cadillac Valley. And it might be touched on those thick intercepts of 175 meters and 126 meters, put simply, that's how projects and mines are built in Nevada. So very excited with what we're seeing from the drilling to date.
Gerardo Del Real: You talk in the release about the geological model being validated, and that's got to be exciting, being that, as I mentioned, one, you're in Nevada, two, the grades that you're hitting are excellent for being oxidized material. How is the team feeling about that model? How has it evolved?
Brandon Bonifacio: Very exciting. And that gets back to what we guided to previously in terms of us seeing, as we worked further south at the Cadillac Valley area, that mineralization did trend more near surface and shallower. So it's great that that was validated. I think with us gaining more data and information with respect to the current drilling and assays coming out of the ground in a timely fashion, we're then able to revise the geological model. And I can say the team's getting a great handle on the ground in terms of what we're seeing and pulling out of the ground from a core standpoint, and then also where some new opportunities are with respect to that entire district scale project that we have based on the geological model being validated. So overall it's very positive, what we're seeing, and I know the team is extremely excited about some of the further holes that we have planned based on some of the results we've seen to date.
Gerardo Del Real: Assays are still pending, I believe, for both Resurrection Ridge and Cadillac Valley, correct?
Brandon Bonifacio: Yes. We have approximately six to seven holes at the lab currently. So again, we're expecting another release in and around the end of April or beginning of May. So extremely steady. And as I mentioned previously, we're seeing approximately three to four-week turnaround time from the assay lab. So that's awesome that we're actually getting live data from the drill program. And like I said, that gives us the ability to then revise the program accordingly in the midst of it. And we're not waiting for a large batch to come, which comes after the program is completed, so you don't have the ability to actually refine the program as you're currently in it.
Gerardo Del Real: Excellent work from you and the team. I love being early to stories. I think we were one of the first to start telling the story. For those that see the run-up in share price here recently and maybe feel like they've missed that run, what would you say?
Brandon Bonifacio: Yeah, I think it's nice to see the positive validation in the market yesterday on really strong volume. But I don't say this lightly, I think it was a long time coming based on the similar results that we've had to date. And I think that will continue going forward. I think we're still at a very modest valuation in and around Canadian $35 million market cap. And based on some of these results, if we can drive to that near-term resource at Limousine Butte, along with the exploration upside we're seeing at Limousine Butte, Cedar Wash and our Ptarmigan projects, I think there's a lot more room to run from the valuation standpoint. So I think it's a great opportunity to look at Nevgold today. And I think we're going to be very steady over the coming months with more news releases from the drilling, which is very exciting.
Gerardo Del Real: You mentioned that $35 million market cap. Gold assets like this where the grade is great, where it's oxidized material, where it looks like you could have a system that hosts a multimillion ounce gold deposit, I've seen these projects go for not millions of dollars, but billions of dollars before. So a lot to get to, a lot to do to get to that kind of valuation, but you're off to one heck of a start. Congrats again, Brandon.
Brandon Bonifacio: Thanks, Gerardo. Great catching up.
Gerardo Del Real: All right. We'll chat soon.