ORX Drilling Summary Going ForwardWith so much ORX activity in the works, I thought I would summarize things so that we don't lose track of it all.
1) The Knight Project, (named after its local township), is located 60 kms west of Kirkland Lake.
Here, there are two 5,000 meter drilling campaigns in the works, including a "discovery target" which will represent 10% of the drilling. Likely the second 5000 meter campaign is a follow up from the first campaign.
Most of the drilling will take place toward the Tyranite Project there to take place deeper and represent the "latterally expanding" deposit.
2) The McGary Project is 20 kms west of Kirkland Lake also being a 2 prong project for drilling, basically designed to "catch any low hanging fruit" by the present Kerr-Addison Deposit according to Stephen Stewart.
It also includes drilling in the 1.5 km Cadillac Fault Area which has never been drilled.
There is presently 7 to 8,000 total meters of drilling planned in the McGary Project.
3) The Mirado Open Pit Project. There is a potential to grow this project area from the present 450k ounces and according to Stephen Stewart, it has a "multi million ounce potential", which he calls "step out drilling".
I couldn't find how many meters there is planned for drilling here.
4) The Mistango Stake represents 20% ORX ownership, and the goal is to prove that the kirkland Lake Orebody does expand in a westward direction which is called the Ebby Baldwin Project.
This is a $7 million drilling project in all, which is close to the Macassa Mine, which has the world's highest grades of gold (20 grams per tonne), in the Kirkland Lake Golden Mile.
There is also the Omega Project area which drilling will take place.
At the moment, there are no drilling details in the Mistango Stake.
5) The ORX Pacific Precious involvement in Nevada represents 10 million shares of the stock's 37 million total shares outstanding. 5 million shares will soon be given to ORX shareholders, with the other 5 million remaining owned by ORX.
The Golden Trend Project is located next to the 15 million oz Gold Rush Deposit, which is a joint venture between both Barrick and Newmont Mines, so future drilling in this area certainly is something to look forward to for ORX shareholders.
Not even mentioned is the potential gold that could be found within the Kerr Addison Tailings facility that is presently owned by ORX. Probably in the hundreds of thousands of ounces but the key is that someone wanting to do some mining here will need this tailings facility.
The key takeaway is that ORX is the third largest player in the Kirkland Lake Area, and with future M+A activity, Stephen Stewart believes "the plan is to make ORX irresisteble to a big player".