1911 Gold's Ogama-Rockland Delivers 712,000 oz Inferred, First Proof of Satellite Strategy

0:15This month, 1911 Gold announced a mineral resource estimate update for its Ogama Rockland Gold project showing an inferred mineral resource of 3.314 million tons at 6.68 grams per ton gold, an equivalent to 712 ,000 ounces. 1911 is advancing its 100 % owned True North Gold project. The company has a fully permitted mine with mill and infrastructure. A production decision is planned for 2027. Sean Heinrichs is CEO. Sean, welcome back to Mining Stock Daily. Hi, Michael. Great to join you on a nice sunny day here in Vancouver. Let's talk about that news release, Sean. You called the MRE a key step in 1911's gold strategy of using existing infrastructure at the True North Gold Complex to develop a wider resource.

1:09Why is that a key step? Thanks, Michael. Look, for us, part of the thesis and the part of the reason we tell investors we're a bit unique as an investment obviously is the fact that we have the permitted existing infrastructure and the mines that are currently coming online here towards the end of the year for production. but more importantly, the fact that we have control over a major greenstone belt and have a number of prospective areas across that belt. And the other key part of that also is that we have road connectivity to most of the areas on our property. And Ogoma Rockland for us represents the prime representation of that opportunity for our shareholders.

1:55It's a second deposit on the property outside of the current area where there's been a lot of, you know, obviously where we're developing quickly. But it is close to the road. It's close to the existing electrical network grid. And it's an area that we believe firmly we can probably bring into production in a relatively reasonable time frame just given where it sits. So it's the first example for us of an area that will provide long-term growth for the company and allow us to aim for much higher production at our central mill. Now, I understand that you have drilling going on. You're doing resource definition as well as you're doing some exploration.

2:40I mentioned that because you are wanting to have a global resource update by Q4 of 2026. What is this going to encompass? The global resource update is meant to capture the drilling that the company has undertaken over the last couple of years. We've drilled well over 35 ,000 meters, some of which are into new zones, new targets that were never discovered previously and are outside of the current resource. There, I'm referring to the San West, San Antonio Southeast and the shore target. this would be our opportunity to bring as much of that into the updated resource as possible obviously a significant amount of it will probably be inferred just due to drill density but we are also expecting to get some pickup in indicated and then the other key reason for doing that is because McKellie and his team at site have focused extensively over the last 12 months on infill drilling and in certain areas delineation drilling in preparation for upcoming mining activities and And for us, that represents a key de-risking step for us as a company, because as any operator of a mine knows, you don't want to be going in blind.

3:55And then underground narrow vein mine like this, you want to be going in fully informed. And that's what McKellie and his team have managed to accomplish over the last 12 months. So we're excited to get an updated resource that's bigger and shows a nice upgrade in the resources as well from what they're seeing. Now, within the news release, I think it was a Met news release, you also did mention the ball mill. You said they had a successful ball mill commissioning on August 10th after Newliner's Lifter Gear Loop system. What's the list of items remaining, and are you seeing that ball mill running continuously?

4:37Yeah, the ball mill is off and on quite continuously. We don't need to keep it running all the time at this point, but we're bringing it kind of back online on a regular basis at this point. There are other key components to be brought online, and that will happen over the next six to eight weeks. Key ones there really would be when you get the regrind circuit operational. That was one of the areas we actually had to kind of take apart completely because it had been broken, unfortunately, during our tailings operations days. That is largely fixed and looking to come back online here shortly. And that's actually when you look at the network, usually part of that testing of the True North or that 93 percent, 93.7 percent recovery we achieved was actually to determine whether or not we needed regrind.

5:21And in fact, that was what came out of that study was that regrind was an essential component of our successful recovery of ore. In terms of the rest of the circuit, you're looking at the CIP tanks. We had to clean those out, realign those. We've obviously made a number of safety upgrades. we replaced a historical compression system that was used in the mill with an oxygen plant that's on site so that's being installed that'll be commissioned here shortly as well and then there are a number of small components that like the concentrators that have been cleaned out and need to be brought back online that's all happening here over the next four or five weeks as well so the next the month of September will be a big month for the mill everything should be operational by the end of September and just waiting on the completion of our new crushing circuit that's being constructed outside of the mill.

6:12And that's also well underway at this stage. You did release metallurgical work this month after talking about the MRE. Anything that you want to highlight in there? There was an interesting note on that. But you did have a PEA that had 93.5 % mil recovery at 2.75. Within this, within the metallurgical work, you had essentially the same recovery, but grading at 1.82 grams per ton. Yep. Thank you for pointing that out. So there's a couple of things that came out of that news release specific to True North. Like I said, we were testing for the circuit that we have, which includes the regrind. We were able to confirm the importance of having that regrind in there.

7:01We were able to achieve a recovery comparable to what we'd used in the PEA and comparable to what we'd seen historically, particularly under Klondex during a period of operations when the recovery is a little bit more reliable in the reporting. We did that with lower grade, which is, I take that as a positive sign. In an operation like this, you're often dealing with a fixed tail amount, so a fixed amount of loss, regardless of the grade you're putting in. So the higher the grade is, is typically the better recovery on our circuit. And that's common for most mills. The other key takeaway here was obviously we did a first run on the Algama Rockland mineralization.

7:42We were able to confirm the recovery was significantly higher. There's a slightly longer retention time associated with Algama, but not significantly. So it will leach nicely in our circuit. We're also able to confirm that the content of Ogama Rockland is clean, just like the true north oars. We didn't find anything in there that would be something problematic for managing our tailings discharge and our tailings pond. So we're happy with the results of that. We'll obviously continue to do more work around the metallurgical recovery on the Ogama Rockland as we develop that asset further. But these are both very positive signs as we step towards startup of operations here in the fall.

8:22and obviously the long-term development of that Ogama Rockland deposit as well. So as you bring on the other targets that will eventually be folded into the Global Mineral Resource Estimate, that will be ongoing metallurgical work as well, just that there's commonality with the type of rock that you're going to be processing? Yep, that's the plan. The three new zones and even the new Baker one we put out a couple of weeks ago, So those all sit in the same post rock as what's been mined there historically, that San Antonio Gabros. We're not expecting any surprises, but certainly those types of tests will be ongoing as we bring those closer to production.

9:02Our goal here over the next couple of years is obviously focusing in on San Antonio Southeast first as a potential area to bring into the mine plan. And then obviously stepping out from that would be shore and then going in the other direction, San West. But prior to that, there'll be extensive testing around how this leaches through our circuit or how it runs and what the recoveries look like. Not expecting any surprises at this stage, though. What's the pace of the release of drill results right now? The mix of resource definition as well as the expiration? And what are you kind of looking forward to in terms of expiration coming out?

9:40So next steps for us will be releasing some of the results around our surface drill program at San Antonio West. At the end of last Q1 of this year, we kind of ceased the program for a little while because there were a few areas we were not able to kind of get into with the drill. We were able to return to that in the June, July period. Now we've got those results and we're ready to put that out soon. So that would be nice because that's a large, wide open target for us, which is just to the kind of northwest of the mine. about 300 meters off existing workings. Following that, I would say we're predominantly looking at a series of infill drill results, upgrading resources, particularly between the 710-711 zone, which was discovered off of level 26, but extends upwards of our level 16 in one of the higher grade areas.

10:30We've infilled a significant amount of resource above that area, managed to follow it along. And then closing and following that is also the L10 related veins, the 1010, 1020. These are just names for individual veins, which appear to be stepping down towards the 710. So we've basically been filling in about a 250 meter area also in preparation for the mine plan, but also seeing that there is some growth in the resource and will be also a corresponding improvement in the quality given the density of drilling that we've done there. I'm interested in any updates or community agreements that you have with the local community, Sean.

11:13I've been talking to you for a couple months now, and you always seem to be on site and having discussions, but any types of updates around that? I try to be at site as much as possible, not as much as I wish I could be. A lot of my visits do seem to correspond to major community events, somewhat by design, to be honest. But next up for us is a mid-September meeting with the town of Bissette and likely the community of Hollow Water in particular. We'll probably be looking to engage with the community of Black River as well. if we can't do it that week, we'll try to do something soon after, particularly given the emphasis we'll have going into the fall on Ogama Rockland, which sits on their traditional territory.

12:02All these relationships historically been very positive for us. We're progressing on, I'd say, less formal agreements on various aspects at the moment. Ultimately looking forward to combining all of these into understandings and operating agreements going forward in the coming years. But steady progress, overall very positive to date. Sean, thanks for speaking with Mining Stock Daily. Thanks a lot, Michael. I appreciate the opportunity as always.

12:36Sean Heinrichs: The information presented should not be considered investment advice. Mining Stock Daily and its affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein. Please do your own research or speak with a licensed financial representative before making any investment decisions.