Our F-Zone is extension of a 11.5 million ounce gold system. Tombill Mines holds 100% interest of the patents/claims adjacent to the Greenstone Mine, and the extension of the prolific F-Zone and surrounding mineralization plunges westward from the Greenstone Mine onto Tombill Mine’s ground.
Equinox is spending $1.3Bn to develop a mill and tailing pond on-site over a period of 1.5-2 years. Following this, Equinox's mine would officially begin operations.
Tombill’s property is surrounded by Equinox Gold's hard rock project. Equinox's project features a 5.5Moz proven and probable resource in addition to a 6.5Moz underground resource that is present along the shared border with Tombill Mines. A resource of 2.1Moz was mined at this site between the 1930s and 1970s.
Then we have the fact that as much as 61% of the company is owned by Family & Insiders. This tells me that management has all the reasons in the world to be efficient and effective when it comes to spending money and creating value. As a shareholder this is a big plus in my book.
Furthermore the project is located in a tier #1 jurisdiction and the main neighbour is a $3.2 B company that is highly motivated to get the Hardrock Project into production as soon as possible. This would further hike up the implied value of any success for Tombill.
Lastly there are several near surface targets spread across Tombill’s greater land package and the company plans to test a total of 8 near surface targets. That’s a lot of potential upside surprises on top of the deep drilling which will be targeting the extension of a 11.5 Moz gold system.