Smart investors in the mining resource industry know there are certain absolutes when it comes to discovering value and opportunity in the sector – 
- An advanced project in an area with significant historic mining success
- Proven metallurgy
- High-grade core sampling
- Low operational costs – initial, current and long-term
- Certain high level permitting already in place
- Easy access to hydro power
- Location! Location! Location!
New Carolin Gold Corp. (TSXV: LAD / OTCBB: LADFF, Forum) meets or exceeds all of the above conditions.
The Company is a Canadian junior-stage exploration and mine development company engaged in the evaluation and development of several gold properties collectively known as the “Ladner Gold Project”. The Project is well located, approximately 18 km northeast of Hope, B.C. and 150 km east of Vancouver, B.C. in the Coquihalla Gold Belt. In fact, the portals to the historic Carolin Mine are only about 6 kms from the Coquihalla Highway, a major transportation route between Vancouver and the B.C. Interior.
The Company believes it’s found a hidden gem in this belt of rocks which is host to five past gold producing mines (Carolin, Emancipation, Aurum, Pipestem and Ward) along with 24 other known gold occurrences.
In total, the Ladner Gold Projects spans 144 square kilometers along the productive Hozameen Fault Zone but, even more importantly, it bears geological patterns that are very similar to California’s famous Motherlode District and B.C.’s Bridge River Gold Camp, both of which have contained multimillion ounce gold producers.
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Today, New Carolin Gold is fresh off a $1.4 million equity financing completed in July 2018 and has started an underground drilling exploration campaign at the Ladner Gold Project. The database for the Carolin mine already has over 40,000 metres of diamond drilling and 10 kms. of underground development.
The Company recently completed a review and 3D modeling of its extensive historic surface and underground diamond drill database. In addition to the Main Zone of mineralization, which was the primary target of historic mine production, at least three (3) additional high-priority mineralized zones exist that warrant follow-up diamond drilling. Two of the newly recognized zones are proximal to the east and below the Main Carolin Mine Zone mineralization (“East Zone” and “Lower Zone”). The third new target zone of mineralization, known as the “Hozameen Zone”, is offset 200 meters to 300 meters southwest of the Carolin Mine trend and was the target of sparse diamond drilling during 1995-1996.
Underground access at Carolin will allow drilling on the contact zone of serpentinite, which has provided high grade intercepts such as 9 m averaging 11.4 g/t gold between 165.5 meters and 174.5 meters downhole (drill hole 11050-63), and 7.1 meters averaging 6.43 g/t gold between 154.9 meters and 162.0 meters down hole (drill hole 11000-71), where mineralization is hosted within both Spider Peak Formation andesite and Ladner Group sediments, as well as being proximal to the east Hozameen Fault. Historic drill hole intercepts are reported as core length. Due to the limited extent of historic drill holes, the true width and geometry of Hozameen Zone mineralization is currently unknown.
For a comprehensive summary of details regarding the Company’s Ladner Gold Project and Mineral Resources, see the Company’s National Instrument 43-101 Technical Report for the Ladner Gold Project dated May 29, 2015 (the “Company’s Technical Report”) and filed on SEDAR.
Historical Production Data on the New Carolin Gold Mine Property
As mentioned above, the Project contains several historic gold producers, including the Carolin Mine. It produced for 3 years (1982-1984) from the Idaho Zone, with total gold production estimated at close to 45,000 ounces, from some 900,000 tons of ore milled, including 394 ounces of gold recovered from 10,410 tons of mine tailings re-processed as the mine was shutting down. The mine operated as a 1,000 to 1,500 tons per day room and pillar/blasthole underground operation.
In addition to the Carolin, there was also the Emancipation Mine which produced 2,897 ounces of gold and 605 ounces of silver while operating intermittently from 1916 to 1941. Three other small operations (Aurum, Pipestem and Ward) report total production of 940 ounces of gold around the same time.
Video Interview with Company Director Bob Thast
Geology and Mineralization
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The property extends some 28 kilometres along the Coquihalla Serpentine Belt, an elongated belt of serpentinic rocks bounded by the East and West Hozameen faults. This rock unit and fault system separates the Hozameen Group (an obducted ophiolite sequence) to the West from the Ladner Group sediments and Spider Creek Fm. greenstones to the East. As mentioned above, this belt of rocks is host to five past gold producing mines (Carolin, Emancipation, Aurum, Pipestem and Ward) along with 24 other known gold occurrences (See Figure 4.2)
Mineralization at Carolin is generally hosted within a dense network of variably deformed quartz-7 carbonate veins with intense albitic alteration and disseminated sulphides. The sulphide minerals are mainly pyrite, pyrrhotite and arsenopyrite and can comprise up to 15% of the mineralized rock. Gold is found as inclusions in the sulphides and less commonly as discrete grains, smears, and plates.
Existing Mineral Resources
The above-mentioned Technical Report also sets out calculations of three existing Mineral Resources on the property.
Tailings Deposit Mineral Resource Summary
- Tailing Deposit Indicated Mineral Resource of 445,000 tons, grading 0.053 oz/ton (1.83gpt), for a contained gold ounces estimate of 24,000 oz.
- Tailing Deposit Inferred Mineral Resource of 93,000 tons, grading 0.053 oz/ton (1.85 gpt), for a contained gold ounces estimate of 5,000 oz.
Carolin Mine Mineral Resource Summary
- Carolin Mine Inferred Mineral Resources Estimate, at 0.5 gpt cutoff, of 12,352,000 tonnes, grading 1.53 gpt for a contained gold ounces estimate of 607,000 ounces.
- Carolin Mine Inferred Mineral Resources Estimate, at 2.0 gpt cutoff, of 2,589,000 tonnes grading 3.34 gpt for a contained gold ounces estimate of 278,000 ounces.
McMaster Zone Mineral Resource Summary
McMaster Zone Inferred Mineral Resources Estimate of 3,375,000 tonnes, grading 0.69 gpt, for a contained gold ounces estimate of 79,540 ounces.
In Summary
The Coquihalla Gold Belt has seen limited exploration over 90 years and has geological similarities to the Mother Lode district of California and the Bridge River district of southwestern BC, both with multi-million-ounce producers. The Coquihalla Gold Belt contains under-explored former small underground producing gold mines and numerous gold prospects.
The Company’s land package now exceeds 144 square kilometers and covers substantially all of the accessible Coquihalla Gold Belt.
New Carolin Gold Corp. has an advanced project with verifiable assets combined with a bona fide blue-sky property. It is positioning itself as an up & coming gold mining powerhouse with a well-defined strategy. While many junior mining companies have struggled in recent years to ignite investor enthusiasm, New Carolin has received strong support from the market. Investors viewing how far this Company has come already need to focus on one fact – New Carolin Gold Corp is just getting its engine started. The current drill program currently underway is designed to further define the tremendous potential of this expansive project.
A Strong Management Team in Place
Management of the Company has been able to consolidate a large land position at its Ladner Gold Project and has set it on the path of exploration and development to hopefully realize what management believes is great potential in the project.
Its President, Mr. Kenneth Holmes, a corporate and securities lawyer by training, brings with him 35 years of experience in the junior resource sector having founded companies, raised financing, sat on numerous boards, and acted as senior management. Mr. Holmes originally joined the Company’s Board because of his strong belief that the Ladner Gold Project is an unrecognized but advanced district scale gold exploration prospect.
From Director Bob Lunde on the quality of the people running New Carolin Gold Corp:
“We have an excellent combination of business guys and mining guys. And, we also have an excellent combination of geologists and senior mining people. We understand what it will take to make this thing look, feel and be a senior mining company. We’re looking to give shareholders a significant return on their investment in the short term because we’re going to prove it and sell it. Period”.
Bob went on to add:
“And, we’re excited to offer investors an advanced brownfield project with undervalued assets in an area with significant built-in infrastructure and easy access to the property and power”.
For more information on company management, please click here:
www.newcarolingold.com
FULL DISCLOSURE: New Carolin Gold Corp. is a paid client of Stockhouse Publishing.