The Corporation is focused on implementing the recommendations on the NI 43-101 compliant Technical Report including an aggressive strategy to bring the McGarry project to the production stage. By bringing the project into production at this time, the Corporation believes that not only will this produce sufficient revenue to further develop the McGarry project but, will allow the Corporation to fund further exploration activities on the McGarry project and acquire additional properties.
The Corporation has recently executed a term sheet with Sprott Resource Lending Partnership for an $11million loan facility. The proceeds of this financing will form the core funding to move the McGarry
project into production and to begin exploration on the Kerr-Addison property.
In parallel with the underground development, the Corporation is planning a significant exploration
project to continue drilling the up and down-dip extension of the McGarry mine zone to greatly expand
the known mineralized envelope. It is also planned to drill follow-up holes to expand the parallel New
South Mill Zone. In addition to the McGarry project the Corporation intends to aggressively explore the
recently optioned former Kerr-Addison mine property. Based on research to date, the Corporation
believes there to be significant unrealized potential in structures outside the former workings in addition
to those areas contained within the working which contained historical mineral inventories.
This former Kerr-Addison mine property will not only significantly increase the Corporation’s
exploration land package but it will provide possible synergies during the exploration and development
phase of both the Kerr and McGarry projects