Pirate Gold's Clipper Brook: A Moby Dick Lookalike 12 Km East

0:25This podcast is brought to you by the Pyrrha. spanning 3 ,100 meters by 850 meters wide and to depths of 500 meters as defined by diamond drilling. So what are the overlaps between Moby Dick and Cripple Brook? And what is the potential scale? Denny Laviolette, he is CEO of Pirate Gold. Denny, welcome to Mining Stock Daily. Thanks for having me back, Mike. Excited to talk to you about this today. Well, let's get into it, Denny. In addition to the news release discussing what you're seeing at Cripple Brook, You have an advanced story. You rather have an accompanying video on your YouTube channel discussing the field work and your VP exploration.

1:05Greg Matheson says in the video, we're uncovering a district one rock at a time. Isn't that the truth? I mean, it's it's it's it's been actually pretty good. Clipper Brook is a very, very exciting area. I don't know if you recall back when we originally found Moby Deck or in the lead up to finding Moby Deck. We had done this extensive data compilation over the region, and we had found this whole kind of historic report from a BHP geologist back in the 70s that was reviewing some Masarco work. And he noted several hundred meters of advanced argillic alteration and noted copper and gold mineralization.

1:48Again, you know, at the time, the concentrations weren't really exciting for them in the 70s. But again, like gold prices, copper prices weren't where they were today. So obviously, this all provokes another look. And we already knew that Clipper Brook had the chance to be. And when we had all this geophysics work that we did over it, we ended up seeing an anomaly very similar to that over Moby Dick. uh this is about 12 kilometers to the east of Moby Dick and it's about a 10 kilometer uh long uh anomaly that shares a lot of similarities and uh so so really just you know more field work over the area outcrop assessment etc and uh last but not least we got that you know that gun that terror spectral gun out and started zapping a lot of outcrop zapping a lot of hand samples and that's really been our secret weapon out there.

2:45And what that tells us is that we're actually getting the presence of alienite. And so what alienite is, is a clay mineral that forms in the upper part of these advanced, in these advanced argillic zones. And so you end up getting in the shallower sort of horizons in that sort of litho cap environment, you end up getting uh this the presence of alienite so that's really reassuring because it tells us that our system hasn't been eroded away you know a lot of people have have kind of thought well this is great you've hit this you know ancient uh epithermal system but what are the odds that it survived you know glaciation and uh so the presence of alienite in situ over this whole thing tells us that the whole thing's preserved beneath us and so we're really really excited to get in there with the drill and permits are in hand and everything's ready to go so we're very very excited about clipper brook it's a huge humongous target and of course moby dick so i i refresh this again on the discovery of moby dick uh what was the discovery and why was it significant well moby dick uh really was a discovery of uh about it's it's a 3.1 kilometer by about 800 kilometer wide advanced argillic alteration zone that's prolifically mineralized with copper and gold what makes it so exciting is that we ended up with a with sort of a core to it that yielded about 150 meters if i'm not mistaken 180 meters 150 meters of 0.5 uh ish copper equivalent and uh in basically 50 50 blend of copper and gold and then we got uh within that uh about a 50 meter zone of one and a half percent copper equivalent now why is that so exciting well we've got the footprint for a humongous target so this is a humongous large tonnage zone that in and of itself in the current market of coppers and uh out there on the tray of brownies of copper projects worldwide.

5:00There's only four of them that are four to five projects, I think, in the world that are a billion tons plus. And so when you start to crunch out the dimensions of what Moby Dick could be, it could easily be one of those. And to have it have the grades that it has, that half a percent, that works today. That's what we're talking about in the comparative group. All of these companies are north of a billion dollars. and and then to have you know what makes these things special what you need to make one of these things extra special is a payback zone so when you have that 50 meters of one and a half percent equivalent that's a very robust very high grade zone and so you know the we followed up on on Moby Dick we put lots more holes uh we stepped out you know hundreds of meters on both sides of our discovery there and started to fill in that 3.1 kilometer long, uh, system that we've got Moby Dick itself, and we're starting to fill it in.

6:00And, uh, and those holes are all pending assay. So we're really, really excited to start to see some assays back from that. I think, um, we can expect assays as soon as possibly even, uh, early September on, uh, on the, on the first follow-up holes to our discoveries at at moby dick so you know it can't it can't come soon enough it's been a tough summer tough market obviously we've got a tailwind now in the market copper's testing all new highs all the time um but we really need to revisit like when we when we first discovered you know for the listener you got to remember you're drilling with hundreds of meters of altered rock and it may seem logical that it's like you look at this visually and say oh well there's sulfides and it's through all the rock and it looks interesting but you never really know until you get assays and when you're drilling thousand meter holes like you're going right through from surface down like you know this is a mega mega zone and you're not coming out of it you can't stop the drill halfway through so you got to keep going you got to get through the whole thing and beyond that you've got to sample the whole thing and so again on visuals alone it's not like when you're dealing with high grade gold when you're really really confident you can just kind of keep drilling it um move on to the next hole keep investing in that zone because you already know that you're you're probably okay when it comes time to getting your assays back but the lead time on these big copper holes these big humongous holes is so long so when we first drilled our discovery holes at Moby we we really wanted to wait and for our assays to come back which took a couple of months before going back and revisiting the drilling and following up whereas if it was like a high grade gold system we would have followed up any right away we wouldn't have stopped um because we would have been you know we wouldn't have known exactly the number let's say we would have had at least a reasonable high confidence that those assays would hold up and uh you know no sense in delaying things and so unfortunately for the Moby Dick story that it was an incredible discovery we kind of dropped it in maybe the worst time possible in the market to be honest but uh that's okay and um and then it was a gap until we could you know uh our follow-up drilling as we started to follow up as soon as we got our assays uh back and we knew that we had something we knew we had to make a discovery and uh so now finally early september we're hoping that that that chain of news that steady state flow of news on Moby Dick will continue and notwithstanding, um, going into Clipper Brook, just 12 kilometers away.

8:35We have another 10 kilometer Moby Dick lookalike. Um, it's just really, really special. So this could be a multi-billion ton district, you know, my lifts to God's ears. I probably can't even say that, uh, legally, but I mean, that's my feeling, uh, on this is that that's, it's got a humongous footprint and it could easily, you know, that footprint could easily have something like that. So long as the assays and, you know, the mineralized zones hold up. Can you talk about those linkages between Moby Dick and Cripplebrook? So Cripplebrook, again, the announcement that you made earlier this month was there was the EM data that came back, sorry, the electromagnetic data, the survey data that you've released.

9:20And then there is also the outcrop as well as subcrop that you're looking at as well too so what are the linkages that you can say right now before you actually have drills turning well the linkages are we have um altered monzonite so we're in that uh that crippled back intrusive suite so the same rocks um we have our altered monzonite it's clay altered so we have advanced argillic alteration so marked by our kaolinite montmorillonite and now alienite um the the um the montmorillonite and the uh parophyllite also present we had that over at uh at uh at moby dick um and so those are classic um high sulfidation epithermal mineral minerals that you would get from really really strong acidic environments um so you got to remember this this rock has been basically chewed to ratchet from all of this acid and you've got voggy silica and all those other sorts of things and you've got the presence of chalcopyrite um and uh and you know and and pyrite throughout the rock it's it's very uh sulfide rich and then beyond that so those are you know again those two things exist on both sides We're also getting minerals like boronite, which is a really, really high tenure copper sulfide or sulfasalt.

10:49And that's extremely encouraging. One of the things that really jumped off the page as we got into higher grade material over at Moby Dick was the magnetite. um we didn't we'd obviously it's it's we're at surface right now over at clipper brook and with limited outcrop and so it's hard to ascertain if we're going to have that um but you know the drilling will tell that story but right now so many of the boxes are checked that's just in the rocks and the alteration and the mineral assemblages when it comes to the geophysics uh what really jumped out over at um moby dick was that we had uh this resistivity low And I kind of hate using that because what it basically means is you have conductive rocks.

11:35So when you have a resistivity low, you have a conductive high, right? And so what Moby Dick was, was this sort of outlier of conductivity as well as magnetics. So it was also a magnetic outlier. and um and it's the same in uh clipper brook so we have the same blend of low resistivity and magnet and and and magnetic destruction over there at at that at that project and so um so those two features are overlapping uh so we have this very similar geophysical signatures uh and um and then the chemical analogs etc and uh and geological analogs are there so really you know it's just going to be a matter of what's the grade and what pro what depth of profile are we in are we in that sort of shallow do we need to go deeper before we start getting into the really juicy stuff or is it going to be right there for us right when we drill uh like it was at moby dick and so um yeah sorry go ahead denny my fault nope that's it i'm yeah uh okay so uh denny next steps then uh you have uh when are you going to be potentially drilling this and how are you prioritizing the other targets that you have of Pirate Gold?

12:56Well, Moosehead results, I believe, are around the corner. So we haven't forgotten about Moosehead. So we're hoping to get something out on some Moosehead results out shortly. But right now the priority is we're following up on Moby Dick and we're really chomping at the bit to get into Clipper Brook. right now we're in that pad making access um we're opening up that clipper brook area to get in there with the rigs and uh so hopefully we can we can start getting in there uh as soon as the end of august slash uh you know within the next couple of weeks let's say next week it's a couple of weeks we should we should hopefully be breaking ground and drilling over there clipper and uh and the other thing is that barge i know we talked about that in the past couple of conversations so a long last uh you know that the pirates are set in sail on a crippleback lake and then we can start to sink uh sink a couple of holes down uh down into moby dick right from above which is awesome so we really really need to do that um to bring all of this mineralization up closer to surface and so um that's really really exciting uh really looking forward to that campaign starting so that's going to be starting effectively this week into next week uh getting that guy going uh we hope so at least that's what i heard last time but you know as these things are you have always these logistical hiccups and things um you know putting thread the needle on getting all the everything deployed at exactly the right time but uh yeah as far as i know everything's on schedule and we should uh we should be able to start punching some holes in from the top of crippled back lake but we haven't stopped we've been you know we've got drills a couple of rigs uh fencing off uh uh moby dick as we speak i just remind us as well it's uh late august uh right now uh you have a winter drilling season in newfoundland of course yeah we do and so we're going to be going right through the winter uh denny um can you value uh you know the work uh what you're targeting right now uh given where it is situated right now uh you do mention uh that the there's existing mines that are nearby where you are you are in central newfoundland you are in canada uh can you talk about how much that changes the value of what you're discovering there say somewhere else somewhere that's a remote yeah i know for sure so it's it's it's immensely important we have we have uh power we have access road we are 30 kilometers from newfoundland's largest newest mine which is valentine lake roughly as the crow flies to uh to to our crippleback package and uh and and then of course um we've got moose head which is just off the highway um that's much more advanced it's a high grade orogenic uh gold veining system so it's a lot of narrow vein, um, high grade stuff, but it's right off the side of the highway.

15:59Um, about, uh, 30 or four, about 40 kilometers from newfound golds, uh, discovery as well as, uh, it's on the, it's on the same road. It's along the same route that newfound gold will be trucking their ore to, to have it processed out in the Bay vert peninsula at pine Cove. And so, um, we're sort of halfway along that journey, if that makes any sense. And so, um, you know, Moosehead's just a little satellite deposit along the side of the road. Um, you know, with the chairs, almost all the same fingerprints is what you've got over it and at newfound gold. And, uh, and then of course, uh, for Equinox, um, and such, this is like, you know, very close to that infrastructure and, uh, and, uh, it's easily accessible.

16:45Um, Newfoundland is pretty straightforward from a permitting perspective. uh it's very pro-business there's it's a very small island um it's easy you know there's all a ton of population but the population there wants to work they're very pro-mining both sides of the political aisle in newfoundland are and um you know it's been a it's been a dream of a place uh to get things done um there's a lot of you know oftentimes and i want to say this sensitively because, you know, a lot of other jurisdictions have to juggle the First Nations question. And I can't really comment on that. I think obviously the First Nations situation is quite complicated in Canada.

17:28But, you know, to acknowledge it as a hurdle for a lot of projects to get over the line with, like they have to get their provincial permits, their federal permits, they have to get sign-off. And, you know, obviously we're all well aware of what's going on in Richmond, BC. and with the real estate stuff. So it's not just limited to mining. It's also affecting pipelines, a lot of things. And so Canada's got a big problem. We got to figure out how we can meet in the middle with the First Nations group so that everybody's treated fairly and everybody feels like they're represented properly. And I'm just not sure the framework that we have right now does that.

18:04But one of the things I can say, at least as pertains to Newfoundland, the island, and not Labrador, but Newfoundland proper. And Newfoundland proper doesn't have that problem. There are no First Nations bands that are recognized in that area or on the island in general. So it's no actual seeded kind of territory, if that makes any sense. And so, you know, it's a consequence of some horrific truths of the past, I think, with the First Nations peoples being displaced from the island, you know, centuries ago. But nonetheless, it's not a hurdle that companies operating in Newfoundland have to cross, which can make the permitting process quite a bit quicker.

18:50Now, Denny, stepping back, what trends are you going to keep an eye on for the remainder of the year, especially for resource investors? we've seen really a terrific bounce back copper and gold at the end of the summer we're seeing some real worries about oil prices and look you know we've been really on an uptrend there's been a lot of money that has kind of floated to the sector and you know you can bet there's just going to be an avalanche of news that's going to be coming out into this fall yeah i mean i look at it like this, Mike, I think, you know, copper's testing all these time highs. I think everybody is now mining's on everybody's lips, which is for the first time in well over a decade.

19:36You know, I'm not sure about you, but for the first time in well over a decade, at least for me, it doesn't matter what, what, you know, what channel you're on, what social media platform you're on. It's a talking point in the world. So generalists are starting to gain awareness of this. I think the other thing is, is they're also aware of the threat AI poses to the software space or the SaaS business. So this is something that I'm watching is that, you know, people are going to have to come to terms with QuickBooks being worthless, with Microsoft Excel being worthless, with Microsoft being worthless, with most of these software as a service businesses being absolutely worthless.

20:18because even with the newest version of ChatGPT, where I think it was Fable came out, which was Anthropics, the government had to step in and squash it because basically you could be like, you don't need any of these softwares that you pay for. These AI platforms are able to basically build you whatever you want. You could build a video game in two seconds with just you and me prompting it without any computer background at all. And so we have to come to terms with this whole economy of, you know, when you look at the S &P, when you look at the broader market and you say, okay, what fraction of companies are in this kind of tech world are relying on software as a service?

21:00And what does it mean when software as a service becomes completely obsolete, comes zero? So that's going to send shockwaves through the digital market. And I think people are going to be clamoring for real things. The other thing that I'm paying close attention to is what's happening in the United States, the bond market, and Japan. So what we're seeing now is, you know, we're seeing the, just last week, I think it was, you know, the U.S. went out there and tries to, you know, is trying to fire the bazookas and Gatling guns that trying to keep, of U.S. dollars that trying to float the yen. And, you know, that carry trade's been a thing.

21:41and uh and you know they got to keep this yen from from crashing and so you know the cracks are all in the foundation as far as oil goes the straighter hormuts i couldn't quite place why exactly was there this inverse relationship like normally war equals strong gold prices because it's a fear thing right so it's instability in the world and you go okay so war and conflict should equal higher gold prices why was it that um you know i ran when that was announced why did that automatically and every time there was a peace deal announced every time there was like the straight was opening up then gold would surge and then as soon as you know rockets get fired back and forth and missiles and drones and all this shit and the and the rhetoric started to gain you know, to get a little more toothy, a little more scary, then suddenly, um, gold prices would collapse again and everybody's going, oh, you know, and it was because of this whole oil situation you're talking about.

22:41And I think that now with, you know, peace talks on the horizon, a deal looking in the mix, that's why we're seeing a lot of this, um, this, this resurgence in the gold. It's clear. Everybody wants to buy gold, but that that's always going to be a thing. You know, what is oil worth per barrel in ounces of gold? You know, it's, it's, it's still relatively cheap, like it's extremely cheap actually. Uh, so gold is, you know, 4 ,000 bucks an ounce and oil still flirts with, you know, 80, 90 bucks a barrel. And so is that, you know, in, in terms of if, if gold is your currency and that's what you're buying well with, it's never been cheaper, you know so so so there's got to be an equilibrium hit there so there's a lot to watch um you know my my thesis is hold strong keep doing what i'm doing you know power gold let's keep discovering as far as my investment portfolio is i'm investing i'm you know rebalancing the portfolio a little bit here and there but by and large i'm kind of sitting on it i'm happy with my bets.

23:46I'm happy with the ponies I've chosen and I'm waiting to be right. Danny Lavillette, thanks for speaking with MiningStock. Thanks, Mike. Take care. The information presented should not be considered investment advice. MiningStock 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. you