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Exciting Results from One of Ontario’s Newest Gold Explorers

Stockhouse Editorial
0 Comments| October 21, 2020

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(Image via Cross River Ventures Corp.)

For most of October 2020, gold prices have been stuck around $1,900 / Oz. mainly due to the strength of the US dollar, though analysts now expect the price of gold to jump in the next few weeks and yield a “lasting price upswing”.

Click to enlarge

This should be good news for companies engaged in the acquisition and development of precious metal exploration properties, such as gold and silver exploration Company, Cross River Ventures Corp. (CSE: CRVC, OTC: CSRF, Forum) which owns an option to acquire 60% interest in the Fuchsite Lake project in Northwestern, Ontario.

The project comprises approximately 3,744 hectares 20 km north of the town of Armstrong, Ontario and it was here where CRVC recently completed a high resolution airborne magnetic survey.

The Company also owns an option to acquire a 100% undivided interest in the Tahsis Property, an early-stage gold exploration property located on Northern Vancouver Island, in the Nanaimo Mining Division.

Having only gone public in July 2020, the Company has been busy and just closed a $1.75 million private placement a few weeks ago.

To find out more, Stockhouse Editorial caught up with Cross River Venture’s Chief Executive Officer, Alex Klenman.


  1. Thank you for joining us today. To begin, the developments at the Fuchsite project sound very exciting, can you expand on this opportunity for investors who may be new to CRVC?
We optioned Fuchsite from Ethos Gold. We were attracted to it because it represents a new greenfield fault zone gold target in northwestern Ontario. Within all of these well-known deposits and mines, there’s actually still massive opportunity and underexplored areas ripe for discovery. The area in and around Fuchsite offers some first order criteria, i.e. favourable rock types and alteration that are frequently associated with large gold discoveries in the region, with very little to no historical work done. Without getting too technical, the recent survey successfully defined and extended a key structural zone, basically a vital step in the process of developing drill targets. The results were positive, and we expect more encouraging data moving forward.


  1. What kind of interest have you seen in the property?
Our work programs at Fuchsite are being managed by Ethos’ team which includes their VP of Exploration, Jo Price, and Dr. Rob Carpenter, PhD. Dr. Carpenter is best known as the former CEO of Kaminak, which sold for 500 million to Goldcorp. He led the team that made the multi-million ounce Coffee gold deposit. When others with that type of experience like the property and recognize the potential, it’s a good sign.


  1. Are there plans for a drilling program at Fuchsite Lake property, or are we jumping too far ahead?
Yes, we would love to drill Fuchsite, but the goal in the near term is to generate as much favorable data as we can. Each round of work provides details about the geological setting that essentially, eventually, creates an inventory of drill targets. So far so good in that respect. We have ways to go, but we like what we’re seeing. The decision to target Fuchsite in itself was made with the idea that this is something worth exploring, something worth drilling. The target is Archean shear zone hosted gold, within deformed and altered ultramafic and mafic volcanic rocks. This setting and rock type association is a major indicator of gold mineralization in world-class gold districts in both Ontario and Quebec. So, we’re in a place where drills are most certainly part of the plan. But before we get there, we need to know the absolute best places to put them. That process is well underway.


  1. Is any activity scheduled for Tahsis, and is there a timeline the company has in mind to acquire the full 100% interest in the property.
Yes, there is. Much like Fuchsite, we’re in the data compilation stage. More data means more of idea of where the likelihood of mineralization will present itself. We have a reconnaissance program planned soon that will include soil and rock sampling in three priority target zones.


  1. With $1.75 million raised through the private placement, do you have plans to expand your portfolio, or will that be dedicated to pursuing exploration on the existing properties?
Yes, we are absolutely expanding our project portfolio. We’re eager to make a significant impact early in our lifecycle as a public company. We IPO’d in July, so structurally speaking, and sector wise, this is the time to think big. We are confident we’ll be able to add projects of merit, in world class districts, with clear upside potential. We are moving fast and want to set the table for a strong performance in 2021 and beyond.


  1. Gold and silver activity have seen an upswing in activity, with Ontario being quite the hotbed for exploration and development, what makes Cross River Ventures stand apart?
We have several desirable attributes investors like to see in a junior mining company. First of all, we’re early in our lifecycle, which means our share structure is still super tight. Secondly, our strategy is designed to maximize greater returns by immediately building a robust exploration portfolio. We’re building a strong technical team and have already forged some excellent relationships in this regard. Third, our leadership team is experienced, with success in building companies and raising capital. And we’re not going to be shy marketing this company. The importance of building an audience that can grow right along with you is critical. It’s a ground floor opportunity at just the right time in the gold space.


  1. Finally – what is your take on the gold market today?
We’re seeing lots of volatility as the gold price rides a rollercoaster. That’s not going to change I think through the fall and into the winter. The US election is a big influencer in terms of stability, and right now it’s pretty crazy. Regardless of the micro view, long term gold is set up to run. Monetary policies, inflation, recession, economic uncertainty, the pandemic, stimulus bills, I mean there are a number of factors that give gold a healthy nudge in the right direction. I think we’ll see record highs in 2021, and I’m not alone in that thought.


  1. Thank you again for taking the time to speak with us today, anything further to add?
Put us on your watchlist and keep an eye on our progress. We’re early in our journey but we’re going to do what it takes to become a premier exploration company right now. Why wait? It’s a good time to get involved.

To find out more about this Company, visit crossriverventures.com.


FULL DISCLOSURE: Cross River Ventures Corp. is a client of Stockhouse Publishing.



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