High-Grade Gold Near Surface at Newcore’s Boin Deposit

0:18Mining Stock Daily: All right, moving along with our day here of corporate updates and into the Beaver Creek Precious Metals Summit next week. We're going to welcome back Nucor Gold here. They do trade on the Venture Exchange with NCAU and on the OTCQX with NCAUF. The company did publish new drill results this morning out of the NSHE Gold Project, specifically out of the Boyne Gold Deposit, with an intercept that's one of the widest and highest grade thickness zones ever encountered at Boyne. We're actually going to head over to the brains of the company here, The geologist himself, Mr. Greg Smith, explorationist at heart.

0:56Mining Stock Daily: Greg, good morning. Welcome back to the podcast. How have you been? I've been good. I was actually in country on site for about a month and a half. Just got back here to Vancouver. And yeah, great to be on with you again. Yeah. Happy to have you back as always. Tell me about your time in country there on site, how the drill program was kind of moving along. It sounds like these drill results, you probably saw those drills in action, you know, at that point. What is now these results? But how did you find the project? It's great. It's great. Yeah, we're really busy. I mean, we've been drilling on all three of our largest deposits at Boyne and Sioum and NIAM.

1:37And, you know, we've released a bunch of results already this year. This is the next set of results. We're really pleased at what we're seeing at Boyne. It's our second largest deposit, but our highest grade deposit. And we're seeing that confirmed in, you know, some of the deeper drilling we did earlier in the year. And now with some of this RC infield drilling that we're doing. And as you mentioned, this includes, you know, one of the best grade thickness intervals and certainly the best one in terms of, you know, a wider zone that we've had at Boyne. And we're really, really pleased with that.

2:11Mining Stock Daily: Okay. So let's do maybe talk about that highlight hole. That was hole 411. 69 meters of two and a half grams per ton gold starting at 58 meters depth but within that 69 meters there was an interval of 24 meters with a higher grade area of 6.41 grams per ton gold and that actually almost starts right at where you started that 59 meter level depth here Greg pretty unique at all tell me about the continuity of this higher grade you know shallower surface Is this something new or have you been kind of tracking this along the Boeing deposit? We have been tracking. As I mentioned, Boeing is our highest grade deposit.

2:53So, you know, this, as again, is definitely one of the better holes. But we've got a, you know, a group of holes that are, you know, have higher than that 100 gram thickness interval, which is kind of the, you know, the pinnacle that you always like to exceed. But then we've got a big set as well that are, you know, between 50 and 100. So, you know, we see some nice wide widths at Boeing. This is not our widest interval. We've got some that are over 100 meters of continuous mineralization. But this has that combination of both good width and excellent grade. And as you mentioned, some of the better grades are towards the top of the interval, which is nice.

3:35It's in the oxidized portion of the deposit. It's, you know, within vertically, within probably 70, 80 meters of surface. So this is something that we look to bring early on into, you know, an updated mine plan. And that's part of the reasoning behind doing some of this infill is to better delineate some of this higher grade material and give us the ability to, again, especially this material that's close to surface, bring it earlier into the mine plan when we do the updated work for the feasibility study.

4:09Mining Stock Daily: That intersection was within the reserve pitch shell at Boyne. Was this more of an infill style hole here, Greg? right? Yeah, absolutely. So this is an infill hole. There was some decent width between the existing holes. So just to be sure, if you will, we needed to put a hole in there. And as well, as I mentioned, with all of the drilling that we've done now, we've got areas where we have to find some better than average grades. This is going to be the material that's early in the mine plan. So we really want to make sure that we've got a good handle on the distribution of the of the grades, you know, within what is one of our highest grade zones.

4:50Mining Stock Daily: Okay. What have we learned more about Boyne? And maybe from your standpoint, what needs to be done more with Boyne? Yeah, more of the same, really, you know, we had for so many years concentrated on the really near surface stuff within the oxides. And as our news releases earlier in the year pointed out, we've got, you know, some really nice high grade material within the fresh rock and this interval sort of overlaps both the oxidized material and into the fresh rock and that's what we're seeing now is with all of the drilling that we've done, we're smarter now. You obviously hope that you learn as you complete each drilling campaign and we're going back into some of these areas now where we've got these better grades and in particular over these wide widths and doing this confirmation drilling that needs to be done ahead of the next economic study.

5:45So we're learning a lot more about the distribution of the grades within what is a fairly large deposit. These holes we released today are over the center part of the deposit, but cover a strike length of almost two kilometers. So there's still lots of space out there for some good results. And that's what this news release highlights.

6:08Mining Stock Daily: Obviously, there was a lengthy conversation with that last technical report, the pre-feasibility study. We saw the market reaction, Greg. But just kind of curious, from your standpoint as the head of exploration here at NSHE, has the strategy at all changed since that technical report was published? or has the approach with the drill bit and where and how to add more ounces and what type of ounces to add, has that strategy shifted at all? Well, the CIL process facility certainly opens up opportunities. You know, with the previous one, we were really focused on the near-surface dioxide material.

6:49But, you know, now something like this that even brings higher-grade material but into the upper portion of the fresh rock, That is not any issue now. The CIL that's being built will be able to handle this stuff from day one. And again, in this case, you're getting into it by mining through some material that's grading 6.4 grams per ton over 24 meters. So, you know, once you're then into that, there's really no impediment to keep mining and really let the grade determine where you're going to go and how you're going to optimize those first few years of production. And Boeing is where we're seeing that.

7:28Boeing is our highest grade deposit. It is now currently in the mine plan the majority of the first few years. And we'll see that, I think, even become more significant as we continue to find these higher grade zones.

7:42Mining Stock Daily: How important is it to put more ounces in that fresh rock material for the CIL? Certainly, again, the CIL obviously can process the oxide material wonderfully, and that's not a problem. It's really the grade that we're focusing on now, and that's what drives the economics of the project. That's what we see in the first three years of production as we have it in the mine plan now, And we're just looking at extending those higher grades, you know, improving them in the first few years, but extending that better than average grade longer into the mine life. Okay. If we stick with Boyne here, one last question, Greg.

8:18Mining Stock Daily: You know, what is left here at Boyne within this, you know, big 80 ,000 meter program you're basically in the middle of? How much more attention is Boyne going to get through all this? so yeah we've uh we've released the 47 000 meters as of this uh news release we've got about another 17 000 that we've drilled that are in the process of you know being sampled being sent being assayed all that so we've got another 16 000 yet to go um and yeah a significant portion of that maybe around half will continue to come out of the boine deposit so uh we've got a lot more news coming out of boine we do have more news coming out of out of niam where we released uh again some really good results a couple of months ago that included there our best gram thickness uh interval that we've ever drilled and and we're doing some more drilling at sium so we'll have a lot more results coming out of each of the three big deposits and uh yeah a good chunk of that will be from boine that'll continue to be uh rc drilling the rc rig is working there now actually stepping out on hole 411 and we get additional diamond drill results from some of the deeper drilling as well.

9:33Mining Stock Daily: All right, Greg, where are we going to see the next deposit discovery here at NG? What are you most excited about that hasn't been drilled yet that maybe if you twist some arms here for management, you get a chance to test? Yeah, I mean, we've got half a dozen of advanced targets, we call them, some of which we've put a few holes into previously, but don't have a a resource and i think cojina hill is is one of the the highlights there which includes again some some really significant grade thickness intervals there but we need to step out along strike and and build the size there we've got some other areas where we've done some trenching and and haven't drilled any holes yet the the challenge is is that you know if you can continue to to intersect zones like this that it's hard to move the rig somewhere else so uh we definitely have a bunch of conflicting or, you know, priorities.

10:25And that's a good problem to have. It's great to have high quality targets like this and get the success that we're seeing with this drilling at Boyne. And it's great to have some of these targets in our back pocket that absolutely one day will be tested.

10:40Mining Stock Daily: All right, Greg, let's leave it at that. Short and sweet. We'll do another update here with CEO Luke Alexander while we're on the ground at Beaver Creek next week. So that should be forthcoming. Good to see you, Greg. I hope, well, glad to see you back. And a lot more jewelry results will be coming here from the Entry Project. So thanks for your time. Thanks again, Trevor. Yep. All right. Nucor Gold, once again, trading on the venture with NCAU and on the OTCQX with NCAUF. The information presented should not be considered investment advice. Mining stock daily against affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein.

11:19Mining Stock Daily: Please do your own research or speak with a licensed financial representative before making any investment decisions.