RE:RE:RE:News from Golden Eaglegeezer21 As you know Golden Eagle came from the Fiore Acq. Fiore has some amazing assets but never could raise the money they needed to properly explore them. They produced about 45k OPY efficiently which left them a small budget for exploration.
Id talked with mgt a number of times. Out side of diluting at the bottom, they just could not find the funding needed during the down market for the proper exploration budget.
The cash they did make, had to go towards the slow development of Pan and GR Gold Rock. For this reason Golden Eagle was a prize property on the shelf for a much later date. Window dressing for the presentation.
Hecla has a prime property their working on next door to GR. The thoughts were that as Hecla developes the Republic resource, GR would be much more valuable and the 2 companies might find some synergies.
As a former Fiore SH, current CXB, I kept up with mgt on the progress. I think the story,properties, projects and mgt at Calibre are amazing and Im happy to be here. This company has one hell of a future. I think most old school CXB SH wonder why they diluted for a 45k oz higher cost producer even if its in Nevada.
The answer I believe, is mgt well knows the future value of the Fiore properties and knows they have the keys (cash) needed to unlock the value. Nevada has huge upside now guaranteed by CXB cash flow. Things happen pretty quickly in Nevada as far as jurisdiction goes.
As to Golden Eagle, 4 - 500Gram meter holes. Bring it! Im happy to see Calibre has the horse power to go it alone if they choose or collaborate with Hecla. Things done move as fast up there in Washington. Looking forward to the increased 6+gpt grades coming out of the Nicaragua pits
The Republic Mining District, located immediately north of the town of Republic, approximately 125 miles north-northwest of Spokane, Washington in Ferry County, holds the title as the largest historic gold producer in the State of Washington. Hecla controls 3,406 acres of surface and mineral interests over the most productive and most prospective ground in the Republic District, covering the major structural trends of the district including top producing mines such as Knob Hill, Surprise, Lone Pine-Last Chance, Tom Thumb, and the Golden Promise. Recent exploration has supported the potential for new discoveries setting the stage for the next generation of organic growth in the Republic District.
Hecla’s exploration efforts since 2011 have confirmed the potential for additional high-grade underground and surface bulk-tonnage discoveries in the district. With significant portions of prospective terrain hidden by post-mineral cover, and the legacy discovery of the Golden Promise deposit as proof of concept, Hecla considers the exploration search-space to be much larger, and more robust, than history might suggest. With modern exploration tools, a robust historical dataset and abundant targets, Hecla is taking a fresh look at this storied district.
Hecla has made the first steps towards a new era of exploration in Republic with continued integration of historical data, updating our 3D genetic model of the district, completing a large soil sample program over a highly ranked target area, and re-evaluating exploration strategies to bring our most prospective targets to a drill ready status.
In 2022, an exploration program is planned to be reinitiated in the Republic District with field work and surface drilling programs.