Exploring for gold and base metals in the Abitibi Greenstone Belt

Abitibi has produced more than 180 M ounces of gold and more than 450 Mt of Cu-Zn ore to date

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Message: WHY PG-101?

 

Bull boards & Forums on a variety of financial websites provide investors, & those seriously looking to invest, with a barometer to what others think. Any one with a meaningful stock position would be expected to put forward a positive spin, wouldnt they, as it would be in their personal best interest to do so. Any foul-mouthed diatribe, or off colour spin offered about the Company begs the question, Does this person own any stock, and whats their real motive for discrediting management, or others opinions? Makes you go hmmm, doesnt it? Further, my personal regards to contributors to the boards with a positive, and meaningful message to their fellow shareholders.

 

A question was posed on the board about Marquest. Firstly, this is a major brokerage firm headquartered in Montreal, Canada, that specializes, in part, in Flow Through Private Placements for Mining Exploration companies, qualifying their clients for tax savings. They have been funding EXS/EXSFF/E1H1 for many years now to the benefit of all shareholders, as the funds provided by them, must, by strict tax rules, be spent on exploration in Ontario and/or Quebec. The recent commentary on the Stockhouse board about Warrants makes NO sense. If you have a Warrant, you have a right to buy stock from the Company at a fixed price, for an extended period of time. With reference to the Flow Through Financing by NR dated November 4th, 2016, for example, Finders Warrants were granted to brokers, at Marquest, & elsewhere, as a bonus for doing the placement with their clients. The Warrant price was fixed at .085. Shorting to these Warrants at .065-.075 would be stupid, as the broker would be liable to the Company for the difference to make up .085. There is no capital outlay by the brokers for Warrants, so traditionally, they are sold into the market, when there is a profit to be had. Marquest brokers potential profit then, is affected by any stock selling they do, isnt it? I would think brokers are more likely to add to their clients positions, to put their Warrants into a profit position. In my experience, I see the brokers selling their Warrants as we reach .10, & beyond, but never below the fixed price. Bear in mind that when a Warrant is exercised, the Company receives $8,500 to Treasury for every 100,000 exercised.

 

Chris Dupont is working to finalize details to launch a drilling program at the Companys PG-101 Property. The property consists of 148 mining claims totaling 2386.8 hectares. Why is this of importance to all shareholders? The PG-101 is adjacent to the eastern boundary of St. Andrew Goldfields former producing Holt GOLD Mine Property and only a few kilometers east of their Holloway GOLD Mine property, recently acquired by Kirkland Lake GOLD. Kirklands CEO, Eric Sprott, is well known for his clever, and strategic land acquisitions in this region. So, why this property? Historic production (1988-2004) from the Holt (McDermott) Mine totals 8.18million tons at a grade of 0.162ounces per ton GOLD. Production at the Holloway Mine to 2004 was reported as 4.73 million tons at a grade of 0.166 ounces per ton GOLD. Historic potential production at both mines warrants further intense examination. Several other smaller deposits have also been discovered in the vicinity of the PG-101 Property including the Buffonta, Mattawasaga and East zone deposits.

 

The PG-101 Property is underlain by the same succession of mafic volcanic flows, breccias, and tuffs that host the known GOLD deposits of the area. These volcanic rocks are cut by ENE trending faults that splay from the Destor-Porcupine fault zone (DPFZ) belt. The DPFZ is a major deformation zone that crosses along the north boundary of the Companys PG-101 claims in Marriott Township. Proximity to the DPFZ, the Kirkland-Larder Lake Break and other similar regional faults are characteristic of significant GOLD deposits of the Eastern Abitibi Greenstone. A historic work report indicates that an Induced Polarization (IP) Geophysical Survey on the PG 101 Property detected 11 significant anomalies, one of which is very large and occurred at the western boundary of the PG-101 GOLD Property. Historic reports also suggest the possibility that this anomaly is a possible extension of the Holt McDermott GOLD orebody onto the PG 101 property.

 

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