Founded in late 2018, the company went public in March 2020 and already has four wholly-owned projects in currently active gold camps where it expects to be very busy with continuous work programs over the next year.
At the Urban-Barry camp in Quebec, the firm’s CEO Jon Deluce suggests there are a "lot of signs coming together" that means it could be one of Quebec's next major gold camps" due to large investments from the Province's governments and the First Nations.
Here, the company has claims spanning 12,000 acres at its Bonanza project, an asset which the firm says is its near-term catalyst. The firm shares a 28 kilometer border with Osisko Mining Inc (TSE:OSK). Goldseek is currently carrying out and refining exploration ahead of a maiden drill program starting later this year focused on two of three targets identified.
Elsewhere, at the Hemlo camp in Ontario, it has over 5,000 acres (Horizon project). Hemlo has generated over 21 million ounces of gold over three decades. This summer saw a maiden drill program and soil sampling with results pending.
At the Detour gold trend, in Quebec, the firm has three targets at the Southern Arm project, covering 8,000 acres and an initial drill program is expected this winter. At the Quevillon West camp in Quebec, the firm's project spans 67,000 acres. Historical drilling hit 3.82 grams per ton (g/t) of gold over 0.2m and a full review of previous work is underway.
Proactive recently caught up with Deluce, himself an experienced resource executive and former manager at Ernst & Young specializing in mining and metals, to ask him more about this emerging group.
PROACTIVE: Please can you give a brief description of how Goldseek was formed?
Jon Deluce (JD): I founded Goldseek at the end of 2018 out of the need to ensure proper capital management leading to exploration success. Coming from my background as a claim staker, developer and deal builder, I had optioned two of Goldseek’s current assets (Bonanza and Horizon) to two companies.
These companies were able to raise money on the prospects of the two properties but failed to execute on the work they promised investors. Instead of risking that again I decided to found Goldseek to ensure efficient capital management and delivery of the work plans promised to shareholders with the goal of making new discoveries in Ontario and Quebec.
PROACTIVE: What do you consider to be your greatest/main achievement(s) to date?
JD: I consider our greatest achievement to date would be the four assets we have put together along with a strong technical team who I believe will lead programs towards making grassroots discoveries. With our portfolio of assets and a tight capital structure Goldseek is well-positioned to benefit from exploration success and the improving gold bull market.
PROACTIVE: What are the likely catalysts for the stock over the next 12 months or so?
JD: We look forward to the following near-term catalysts:
- Trenching program and results at Bonanza in November (Urban-Barry)
- Maiden drill program at Bonanza in December
- Systematic till sampling program at Southern Arm (Fenelon)
- Soil results from Horizon (Hemlo) program
- Other acquisitions
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