VIDEO - FN Community Engagement Key to Project SuccessNew video out from investingnews.com
Good summary of the company -
- Near-surface, high-grade 3 Aces gold deposit in SE Yukon,
- Previous gold-producing Brewery Creek property near Dawson,
- 50 TPD pilot processing plant in Watson producing gold for their
- Wholly-owned Yukon Mint subsidiary.
Year-round operations are possible in the Yukon now due to upgrades in road infrastructure.
3 ACES
3 Aces was discovered via a 4,000 gpt Au outcrop. About 300 holes have been drilled and the latest drilling of seven test holes is the deepest to date (500m) and indicates continuation of gold mineralization open at depth.
Bulk sampling under the 10,000 tonne permit occurred in 2018. Some of which has already been processed at the pilot plant. There is a video of a 13 kg bar of gold being poured from the amount processed thus far. Pilot plant operations were closed in December and processing of the remaining material is anticipated to begin end of February to early-March.
The pilot plant uses no chemicals and has an 87% gold recovery rate using water and gravity only. The gold is being processed at the mint into coins featuring design work by Kaska artists.
Staff retention at 3 Aces is around 90% and this is believed to be a result of good communications with the community. The Elders in Residence program invites elders to stay at the camp.
BREWERY CREEK
The PEA of Brewery Creek is being enhanced with an aim to increase the IRR from 19% to over 30%. This is being done with additional drilling (three more targets have been identified for end of the winter) and improved economics of vat versus heap leaching. The pits and infrastructure are still intact at site. The CAPEX is estimated at $75 million for a previous producing property yielding 85,000 ounces grading at 1.0 gpt with unexplored potential. Metallurgical results are expected by March/April time-frame.