Transcription of The Stock Network Interview with 49 Metals (ASX:49M), Chief Executive Officer Phil Carter
Lel Smits: 49Metals has officially listed on the ASX raising $10 million to advance its Nevada gold portfolio. The company is now moving quickly into execution with drilling underway at the Gold Mountain project in the Walker Lane trend, targeting high-grade sulfide gold beneath a broad oxide system. 49Metals CEO Phil Carter joins me today to discuss early progress, post-listing, exploration plans and what investors can expect next.
Phil, congratulations on your listing today and welcome back to the Stock Network.
Phil Carter: Hi Lel, thanks for having me.
Lel Smits: Now, congratulations, you’ve successfully listed and moving into drilling at Gold Mountain. What’s next for progressing the program on the ground?
Phil Carter: Yeah, thanks Lel. Very pleased to announce that we have listed on the stock exchange this morning. Really big day for the company and very excited to announce as part of our listing is that we have kicked off drilling at Gold Mountain. We’re going to do about up to an 8,000 metre RC drilling campaign at Gold Mountain.
Obviously, the drillers are on site and we have started drilling. We’re sort of targeting a mixture of gold targets at Gold Mountain. It should take about two to three months to complete the drilling campaign.
The assay should take another probably four to six weeks as we’re getting from the labs. Getting pretty busy right now in Reno, so expect results sometime during May.
Lel Smits: Fantastic and with drilling underway, can you talk more about the specific gold prospects that you’re targeting?
Phil Carter: Yeah, like I said, we’re targeting sort of two different types of gold at Gold Mountain.
Firstly, we think there might be some gold sort of beneath the oxide layer, which has been missed by previous explorers. We know in our project that we do have an association with pyrite and with gold. Now, some geophysicists have identified an area where we believe is some pyrite at depth below the oxide layer.
So we’re going to target those just with a couple of holes, just to see what’s down there initially. Some blue sky drilling, but we’re pretty hopeful we’ll find some gold at depth there. And beyond that, we’re going to sort of go up towards the mountain a bit further and target more structurally controlled gold, which is following up from previous historic drilling.
So we know there’s gold in the air. It’s just a matter of defining, you know, these sort of high-grade structures up to sort of, you know, 5, 10 gram gold with a lower grade of 0.4, 0.5, 0.7 halo around those structures. So we’re looking forward to getting stuck into those, yeah, as we speak.
Lel Smits: Right. And when it comes to capital deployment, really, and the near-term catalyst we can expect, you’ve raised $10 million. And how are you prioritising this capital across Gold Mountain, also Cintram, Buffalo Canyon? And what key catalysts can investors watch out for when we look ahead at the next 6 to 12 months?
Phil Carter: Yeah, so it’ll come down to how this drilling campaign goes at Gold Mountain.
First and foremost, that’ll be our first target. Obviously, if we get some really good results there, the focus will continue at Gold Mountain. But we’re not going to forget about Cintram and Buffalo Canyon.
We will go and do some more sampling at both those projects early days. I’ll be off to the States early on and kick the dirt and kick some rocks around and try and see if we can find those projects. Do some geophysics at Cintra.
We would like to be drilling at Cintra within the next 12 months. That is a bit more green fields, a bit less advanced than Gold Mountain. It just needs a bit more fieldwork done.
But we will be advancing those projects as well as drilling at Gold Mountain.
Lel Smits: Brilliant. Well, congratulations again on listing on the ASX and look forward to hearing what comes next for 49 Metals.
Phil Carter: Thanks, Lel. Appreciate it. Thank you very much.
Ends