NIA's brand new gold stock suggestion Pasofino Gold (TSXV: VEIN) will be earning a 49% interest in Liberia's largest gold project Dugbe over the next two years! Historical resource estimates from 2013-2014 showed Dugbe's two huge open pit gold deposits to contain an indicated 2,031,000 oz of gold grading 1.51 g/t plus an inferred 2,195,000 oz of gold grading 1.29 g/t. VEIN will be conducting a major exploration program designed to materially increase Dugbe's known resource base followed by the completion of a Dugbe feasibility study.
VEIN is earning its 49% interest from Hummingbird Resources plc (HUMRF) a major African gold company listed on the London Stock Exchange that has invested US$70 million into exploring Dugbe with 74,497m of diamond drilling. Dugbe was the flagship project of Hummingbird up until its recent acquisition of a producing gold mine in Mali. A Preliminary Economic Assessment (PEA) published by Hummingbird in April 2013 based on a gold price of $1,500 per oz gave Dugbe an after-tax net present value (NPV) using a 10% discount rate of US$337 million.
VEIN previously entered into a similar earn-in agreement with SOQUEM for the advanced-stage Roger Gold Project located in Quebec’s prolific Abitibi Greenstone Belt. VEIN is earning a 50% interest in the Roger project with the agreement on track to be completed this year. The Roger project already has a NI 43-101 pit-constrained resource containing an indicated 333,000 oz of gold equivalent grading 0.95 g/t plus an inferred 202,000 oz of gold equivalent grading 0.96 g/t. 89.19% of the indicated resource and 78.71% of the inferred resource is actual gold with the rest being copper and silver.
The Roger project's current resource estimate doesn't include VEIN's Phase 2 drilling campaign from late-2019, which was comprised of 34 drill holes totaling 7,643m. VEIN will be releasing a resource update for the Roger project including its Phase 2 drilling results in the very near future! VEIN's Phase 2 drilling successfully intercepted very high gold grades including 33.99 g/t gold equivalent over 0.8m, 20.50 g/t gold equivalent over 1.5m, and 6.02 g/t gold equivalent over 4.5m. In addition, they achieved some very wide intercepts that were also economically significant including 0.83 g/t gold equivalent over 33.5m.
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA has received compensation from VEIN of USD$30,000 cash for a six-month marketing contract. This message is meant for informational and educational purposes only and does not provide investment advice.
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