Categories: Precious Metals
Topics: Gold Stocks

Quartz Mountain Resources (TSX-V: QZM)(OTC: QZMRF) CEO Bob Dickinson on Advancing the Maestro Gold-Silver Project, BC

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the Chairman of Quartz Mountain Resources (TSX-V: QZM)(OTC: QZMRF), Mr. Bob Dickinson. Bob, it's always a pleasure to have you on. We are overdue for a catch-up. First and foremost, how are you today, sir?

Bob Dickinson: I'm fantastic, Gerardo, and thank you for having me on. I'm feeling good, I'm feeling upbeat. We have a tiger by the tail here in Quartz Mountain, and it's appropriate to explain what we're doing. So, I think this is a timely interview so that we can let our shareholders and people following us know what we're up to here. And it is an exciting story, an evolving story here in British Columbia.

Gerardo Del Real: No, look, I couldn't agree more. We have a gold price that seems to be putting in a new floor right around that $4,000 level. We have silver sitting there with a new floor, what looks like to me, $55, $56. If either of those never gains another dollar, those are phenomenal, phenomenal prices. I think both you and I suspect that we do see much, much higher prices.

So, you mentioned having a tiger by the tail. The stock has been volatile. Excited, and then we get pullbacks and then we get smoke and then we get a little fire. So, timing couldn't be better. Let us know what is going on. How are things going? You just announced some drill results earlier this month, with 164 meters of 0.72 grams per tonne gold equivalent with a combination there of gold and silver. But I'd like just an overview of where the program is, where the project is, and then we can talk about what everybody wants to know, what comes next, right?

Bob Dickinson: Yeah, no, that's good, Gerardo, thanks. Just to step back a little bit further is that this is the baby of the Hunter Dickinson Group, and the Hunter Dickinson Group has been successful globally, but it's had more than it's fair share of successes here in British Columbia. So this is a company that has the full support of the HDI group. And just again, to step back a bit, this company, under my efforts, found and acquired two projects in British Columbia a couple of years back. One's called Jake. And we went there and drilled at Jake in the north part of British Columbia, and we intersected and discovered a brand new porphyry copper-gold deposit, which now needs to be delineated.

Then we moved onto the second property called Maestro, which is in Central British Columbia. And Maestro's a totally different type of beast. It's a gold-copper-molybdenum epithermal system, or that was the target, and of course, we now have found that target. So, we drilled there. And now we're focused, the company is focused on Maestro because it has infrastructure, it's near Smithers and near Houston, mining supportive towns, it's got railway power, etc. So, it's much easier to find and build a mine where you have that infrastructure. So all the focus of Quartz Mountain is now on Maestro.

So over the last few years, we have completed four separate drilling programs. And we have discovered a very, very extensive mineral system. The actual mineral system is about one and a half kilometers north-south and about a kilometer wide. So, it's a very big and extensive mineral system. Within that mineral system, we drilled 21 holes now in what's called the Prodigy zone. So one part of the very, very extensive mineral system, we have found a significant epithermal gold and silver deposit, what we call Prodigy. So our 21 holes at just under 13,000 meters of drilling have now been completed. We just, as you mentioned, announced phase four drill results. Those results add to the earlier results, and we now have a body of gold-silver mineralization about 600 meters long and about, not sure quite yet of the width, but 100 to 200 meters wide. And we're hitting mineralization, epithermal gold-silver mineralization to depths of up to 500 meters. So, it started to become quite a sizable volume of gold and silver mineralization.

And so when we announced the phase four of drilling, we drilled holes to the east of the Prodigy discovery and we drilled holes to the west. So we started with the holes east of the discovery. And so the first hole of phase four was 14, it had a very extensive 306 meters of continuous gold-silver mineralization in that hole. And as we got further out though, the holes drifted into something that we don't really need or want is gold-silver veins and not the epithermal types of mineralization. So those holes were about, oh, three to 500 meters actually outboard to the east of the main Prodigy. So we had one really good hole, which keeps the deposit open to the southeast. And the other holes are showing gold-silver veining, which we're looking for a big one here. We're not looking for gold-silver veins, we're looking for something that will attract a major mining company and our shareholders will get a big check. That's what the target is and that's what Hunter Dickinson has been doing for quite a while now.

So we moved to the west, and that's where the interest really picked up because as we went, we started drilling west of the Prodigy up to 300 meters west of the Prodigy, we started to and have intersected the host rock that holds the Prodigy, the known Prodigy mineralization. And there we've got some substantial intercepts, 414 meters of continuous gold and silver. And another hole out to the west was hole 19 was 126 meters of continuous gold and silver mineralization.

So, it's quite exciting because it means the whole Prodigy is wide open. And coincidentally, we've done a lot of science, geophysical surveys, geochemical surveys on the project. And underlying these intersects in the western most holes is a kilometer long structural anomaly that's a real geophysical anomaly. Quite often, some of the geophysics is a bit wonky, but in this case, it is a real anomaly. It stretches for over a kilometer. So my hope and expectation is that anomaly is representing the intercepts, the highly altered rock that the western drilled holes went through. So the target is wide open. We will now start assembling a drill program for the fall, late fall likely. Drills are all out and about. And we're not able to get a drill, we would like to be drilling now, but we will be drilling in the late fall and we'll keep drilling until it's done.

Gerardo Del Real: How confident are you? I know when we first started talking about Quartz Mountain and having that tiger by the tail, and even you mentioned it in this conversation, you are very clear about the fact that the goal is to find something big and to monetize it. How confident are you that you'll be able to get to the guts of this system sooner rather than later, given the work that's been done and given the methodical approach that you've taken thus far?

Bob Dickinson: I'm very confident. I'm confident in this mineral system. It's very, very large. And there's so much mineralization in the system and we have located a body that is hanging together and has highly probable extensions due to the geophysical signature underlying it.

So I'm quite confident, but the confidence comes from the very large size of the mineral system that the Maestro claim holding covers. So the Maestro claim holding hosts at least two major porphyry, large scale porphyry moly deposits. It hosts high grade gold-silver veins. It hosts the Prodigy type, epithermal near surface gold-silver mineralizations at which we're focused on. And then all around that is this large porphyry moly plus or minus copper system. So this is an extremely well-developed or well-endowed, I guess is the word, area. So, I'm focusing here on the Prodigy because it's the focus of where we want to go right now.

But there is an addition, and I don't like to get too carried away with, but there's many other targets on this project that will bear fruit in the future. But right now, it's really wise for us to totally focus on this evolving Prodigy zone, which is getting bigger and there's lots of gold and silver being shown within it. So, it's pretty exciting.

The other thing that cranks me up is that the system, an epithermal gold-silver system has a lot of similarities to the Blackwater mine that Artemis, multiple billion dollar market cap company has. I'm not saying by any means that we have a Blackwater at this point, but we have the geological systems or the geological framework to actually have the potential to have something like that. And we have the same age of mineralization, for example, 65 million years old. They down at Blackwater, about 200 kilometers or so south of us, they have a big moly deposit right up against and nearby their gold-silver epithermal mineralization. We have the same alteration within the Prodigy zone, same type, it's called green sericite, won't mean too much to anybody, but the alteration is very similar. And on and on it goes, there's a lot of similarities. So, we're onto something that is important. We need to bring it home here and hopefully we can do that in a phase five drill program, which we'll be starting in the late fall, and we're going to keep going until it's done.

Gerardo Del Real: Well, look, it's going to be an exciting second half of the year, I mentioned that when we started chatting today. One last question is, is the approach to continue at it on your own, given the amount of targets? Or are you receptive to potentially joint venturing this if you get a major that wants to come in and get really, really aggressive with the amount of targets that you have?

Bob Dickinson: No, I think we have the wherewithal to be aggressive ourselves. We're not giving this away at this point or any part of it to any major mining company. Our track record is to own 100% into a major deal, and that's the goal. I mean, we're all in on this. I'm in in a financial way, a big way. We have a strategic partner, the Sutton Group out of the Middle East. I'm ready and willing to invest more money and I plan to in the months ahead as we need money. We currently have $2.6 million in the treasury, so we're good to go here for a while. But I'm all-in here as the Sutton Group is, and we're going to go for the whole enchilada.

Gerardo Del Real: Love it, love it. Sir, always a pleasure. Looking forward to having you back on and really excited about the fifth phase of this. Thank you so much for your time.

Bob Dickinson: Thanks a lot, Gerardo. It's great to talk again, and thanks for giving me the opportunity to talk to people and let them know how excited we are.

Gerardo Del Real: Anytime, anytime. Looking forward to having you back on. Thank you again, sir.

Bob Dickinson: Ciao. Bye-bye.

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