Quimbaya Gold (QIM.C) continues to expand its land position in the Segovia mining district as the company has filed for additional concession applications covering a total of just over 6,400 hectares. This increases the company’s land position by approximately 10% to 73,000 hectares, making it one of the larger land packages in the gold district that is owned by one entity.
The new concessions are directly bordering claims that have documented gold production, and applying for these concessions is a low-cost way to expand the land position. As a reminder, Quimbaya has now seven-folded its land position in the Segovia mine district in the past three years.
We expect the next catalysts this year to be exploration-driven. The company will mobilize the drill crew for the maiden drill program on the Tahami Center zone, where the copper-gold-molybdenum porphyry target is located. While Tahami South and Tahami Southeast will also get some attention in the near future, we are looking forward to seeing initial assay results from the porphyry target. We discussed the exploration thesis in this update.
Disclosure: The author has no position in Quimbaya Gold. Quimbaya is a sponsor of the website. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
