After meeting Conrad Swanson, CEO of Gold Reach Resources (GRV.V) earlier this year, we kept an eye on the progress the company has been making. We sat down with Shane Ebert, Gold Reach Resources’ President, and asked him some questions.
– The intercepts in the last press release seem to be quite short. Were they in line with your expectations?
Yes we are filling areas on the east edge that start at surface that are not in our current resources. This requires short holes, some shorter than others, depending on how far from the east edge they are collared. As we move the drill around to the north and east side of Ox the holes will become deeper, in the 200 to 400m range.
– How much additional meters do you expect to drill at the property this year?
Total metres drilled will depend on market conditions and final budgets, both are fluid at this time. It looks like 12,000 metres will be a minimum.
– When do you expect to announce an updated resource estimate?
Depending on budgets and market, we would like to produce resource updates by the end of this year, then move on to some preliminary economics.
– Can you tell us something about your neighbors at the Huckleberry Mine?
Huckleberry has a strong management team determined to extend their mine life beyond the current 2021 deadline, when they run out of ore. They run a 17,000 tonne per day mill which is capable of producing copper concentrates and they have a separate circuit that produces moly concentrates. They recovery gold silver with their copper concentrate.
– What’s your game plan for Gold Reach?
We plan to continue to advance the Ootsa project focusing on adding higher grade near surface mineralization, taking it to a positive PEA, and identifying new exploration zones on the property in the short term. We currently have results for 31 drill holes pending, and we are drilling almost one hole per day, so we expect a lot of news flow over the next month or two.
– What’s your current cash position?
We have around $1.5 million in the bank with $2 million coming back near the end of the year from tax refunds. An additional $2 million financing is pending.
Disclosure: The author currently holds no position in Gold Reach Resources. Please see our disclaimer for current positions.