North Peak Resources (TSXV: NPR) makes clear in their newly published presentation that massive sulphide potential is thought to exist below the existing oxide ore that was discovered at their Black Horse Gold Project in 1998. NPR is planning a series of 9 sulphide follow-up drill holes for the month of March at Area A that will each be between 430m-600m in depth and will step out to the north of Minex's 1998 drill holes. The Black Horse Gold Project was never tested for deep sulphides in 1998. Only shallow drilling was done in 1998, strictly targeting near-surface oxide ore. The drilling in 1998 showed that Black Horse's grades increased at greater depths, and the highest-grade oxide ore was left open to the north where the highest-grade veins became deep at below 200m.
The purpose of Minex's drilling program in 1998 was to define the overall length of the strike... so they didn't care to test how deep or how far north the highest-grade gold goes. The highest-grade gold at NPR's Black Horse Gold Project will likely be discovered during the month of March from these 9 sulphide follow-up drill holes and it will likely result in an immediate revaluation of NPR deep into double-digit territory, where NPR will raise a massive amount of funding with very little dilution for shareholders who are lucky enough to enter NPR at these current ground-floor prices.
We could also see massive value creation over the next few weeks after NPR launches drilling next week targeting Area B. In 1998, Minex discovered some of their highest grades of gold at Area B, which is the past producing Black Horse Gold Mine... but their very limited Area B drilling took place towards the very end of Minex's 1998 drilling program. At $295 per oz gold Minex didn't have the financial resources to follow-up on their high-grade gold discoveries made at Area B, but NPR will do so with 10 drill holes starting next week!
No gold discoveries from Area B were included in the historical resource estimate. The 350,000 oz historical resource was entirely from near-surface oxide ore at Area A. NPR will be verifying the historical gold resource next month with 8 confirmation drill holes plus 16 infill drill holes... for the purpose of turning it into a 43-101 compliant indicated resource.
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