As the 2014 exploration season is winding down, and the end of the year is approaching, I wanted to look back on the progress that GOOD Mining (“GOOD”) has made, as well as plans for 2015 going forward.
Even though it has been a very challenging environment for the mining exploration industry as a whole, GOOD has managed to raise the capital necessary to not only fund the 2014 drill program and to continue with its exploration goals, but to step them up considerably for 2015. GOOD has remained very efficient at pushing through the 2014 drilling program and exploration efforts for fractions of the cost it would normally take for such efforts, while still maintaining high quality, achieving excellent results and superseding its goals that were initially set for 2014. Progress and growth continue, and will surely be proven well into the 2015 exploration season.
Some Highlights of the 2014 Season are:
⇒ CanRee and Golden Target Projects Exploration Permits in Place
⇒ Memorandum of Understanding Partnership with Matachewan First Nation
⇒ World Class Palladium Discovery within the CanRee Project
⇒ Updated Palladium and Gold Inferred and Indicated Resources
⇒ Major Expansion of Claims Base with New High Potential Gold Projects
Resources of the CanRee Project – Multi Mineral Discovery
Originally chasing Gold and Rare Earth Elements with the 2014 drill program, which have also both proven to be present in quantity within the CanRee, GOOD has made a major discovery of Palladium deposition in this intrusive body. Originally believed to be associated with a diabase dike, the CanRee has proven to be an intrusive body of gabbro, mafic volcanics, syenite and breccia discovered through thin section analysis of the host rocks.The CanRee is associated with 4 of the 23 current GOOD mining claims, stretching 1400 meters North-South by 200 meters East-West, open to depth and further expansion. Palladium (Pd) concentrations are significant to date with ‘top to bottom of hole’ concentrations averaging at 5.4 g/ton Pd throughout in the results from the first 7 of 25 drill holes.
GOOD has released three press releases to date that calculate Inferred and Indicated resources of Palladium, Gold and other Precious Metals, as well as details of current drill Intercepts. GOOD’s CanRee body compares greater to other similar advanced exploration and production companies, with GOOD’s Palladium concentrations well above the standard for some currently operating Palladium mines. To date the Inferred Palladium Resource stands at 3,333,069 ounces Pd with an Indicated Resource of 329,644 ounces Pd on just the first 7 of 25 drill holes (pending assay results for the remaining drill holes). The Gold Resource is also significant and stands at an Inferred Resource of 102,214 ounces Au with an Indicated Resource of 10,109 ounces Au with grades up to 2.95 g/ton Au. Other anomalous concentrations of Platinum and Rhodium are also present, as well as heavy and light Rare Earth Elements such as Scandium, Yttrium and Cerium.
*See the company’s ‘Press Releases’ page at: www.goodmining.com
This CanRee Project is a gem as it has the makings of a low capex open pit mine with easy access to infrastructure within the currently active mining town of Matheson, Ontario. With little overburden, roads into the site, hydro electricity nearby, water, rail, mills, supply and equipment in a major mining area, this project has turn key potential in short order.
An in-fill drill program is currently being prepared for the 2015 season to raise the Inferred and Indicated qualification of the resources to a Measured Resource.
Golden Target GT3 Discovery Hole – High Gold Potential
Initial exploratory drilling of two sites, and channelling of quartz veins on another site within the Golden Target Project show excellent potential for Gold mineralization (awaiting assay results).
The Golden Target ‘GT3 Discovery’ drill hole showed massive sulphide zones and high silicification at depths from 30 meters to 318 meters, highly indicative of Gold mineralization. This zone is just 2.6 kms West of the Murgor Golden Arrow Mine pit and is now believed to be on an extension of the Golden Arrow Fault line running from the East and associated with the Golden Arrow Gold mineralization.
Further advanced exploration including mapping, chip sampling, geophysical survey and diamond core drilling will be conducted during the 2015 season on this extremely large and contiguous high potential Gold property.
Addition of New Key Personnel to the GOOD Team
The 2014 season saw the addition of some new key personnel to the GOOD Mining team.
Firstly, Dennis Patron; P.geo was signed on as Senior Exploration Geologist. Along with his Mining Engineering and Professional Geoscientist (P.Geo) designations, Dennis brings over 24 years experience in mining exploration from all over the world. Having years of experience working within the Timmins gold belt, Dennis heads up our advanced mining exploration and drilling programs on the CanRee and Golden Target projects.
GOOD has also appointed a new member to its Board of Directors. Dr. Earl Marshall has been a family medical doctor for over 30 years in his native country of Jamaica. He also has over 12 years of experience in trading equities, equity options and currencies, with special interest in Junior Gold Mining and Energy Companies. He is the managing partner of Optimum Partners Inc., one of the private equity partners of GOOD Mining Exploration Inc.
Two new Junior Exploration Geologists were brought onboard. Mr. Ce Shi is a Graduate Student of the University of British Columbia and Ms. Athraa Koma is a Graduate Student of the University of Toronto. Both Ce and Athraa worked on-site during the 2014 exploration season and are very excited at beginning their careers with GOOD Mining on such promising projects.
Going Forward in 2015
GOOD is confident we will continue build on the positive Palladium and Gold results we have shown so far on the CanRee Project, and also prove to show exciting gold mineralization within the Golden Target Project. With such positive momentum, we plan to expand and grow further in all aspects of the company. Drilling will be stepped up 3 to 4 fold into 2015, first to in-fill drill the CanRee and quantify to measured resources, as well as expand the Golden Target Gold drilling program. The goal for early 2015 prior to the PDAC conference is to have an NI 43-101 compliant technical report prepared for the CanRee resources.
Capital raises have been successful enough to date to fund the current operations. GOOD will now be handing over the reins to a larger brokerage house, to begin in January, 2015 to fund ongoing advanced drilling programs and company operating expenses. We are confident that this placement will be very successful.
We would like to thank all of our in-house team, the drilling crews, our Investors and Shareholders, and the Board of Directors for all of their hard work and perseverance over this past year. The work has proven to maximize value for all of the Shareholders. For more information on GOOD Mining and its operations, you can also go to the company website at: www.goodmining.com
Sincerely and With Kind Regards,
Mr. Frank Dusome, President, CEO & Director