North Peak Resources Ltd.
Company Data
| Introduction
| Projects in Hand
| Management
News Update
| Chinese
| Address ： |
421 7th Avenue S.W. 30th Floor Calgary, Alberta Canada T2P 4K9 |
| Tel No.： | +1 647-424-2305 |
| Web Site： | https://northpeakresources.com |
| E-mail： | info@northpeakresources.com |
| Contact Person： | Brian Hinchcliffe |
| Position： | Director & CEO |
| Traded Market： | TSX-V |
| Traded Symbol： | NPR |
| Outstanding Shares： | Approx. 30.16 million |
| 52 Week High： | $ 1.95 |
| 52 Week Low： | $ 0.67 |
| Present Price： | Click Here |
North Peak Resources is a Canadian-based gold exploration and development company, backed by a team of experienced mining investors and developers, many of whom founded Kirkland Lake Gold. The Company is focused on acquiring historic sites, with low-cost producing gold and other metals properties, with near-term production potential and eight-plus-year mine life in the northern hemisphere.
The Company has acquired an initial 80-per-cent interest in the Prospect Mountain mine complex in Eureka, Nevada. (see the Company's May 4, May 23 and Aug. 25, 2023, press releases).
Prospect Mountain Property, Eureka, Nevada
- In May 2023, NPR acquired an 80% stake in the Prospect Mountain Mine complex and has the right to acquire the remaining 20% interest.
- The complex includes the Diamond Mine, the portal leads to over 10 miles of underground tunnels and infrastructure.
- The property has significant mining history spanning over 150 years with 11 miles of underground tunnels and 4 shafts and within a mining camp that was a significant wealth creator for the region.
- Family-controlled since 1979, the property has had very limited modern exploration or mining activity.
- The Property lies in the Battle Mountain Eureka trend, in an area known as the Southern Eureka Gold Belt, where three styles of mineralization have been identified, gold, silver Carlin style mineralization, Carbonate Replacement gold, silver, lead, zinc mineralization (CRD) and carbonate hosted Porphyry Related Skarn lead, zinc and gold mineralization associated with cretaceous intrusions. At the Property, the CRD mineralization is heavily oxidized to depths of at least 610m (2000ft) below the top of the ridge line.
- A Plan of Operations is in place which covers part of the Property (totalling 81 acres) and entitles an operator to pursue surface exploration, underground mining of up to 365,000 tons per annum and certain infrastructural works. It includes a permit to extract water from a well and to build water containment facilities.
- North Peak's geophysical and geochemistry programs have identified an IP & MT anomaly beneath the historic workings and shafts. This is now the focus of an ongoing drilling campaign.
- Significant progress in identifying and unlocking full multi mineral system potential of the property
Prospect Mountain Technical Report (effective date: April 10, 2023)
Summer 2024 Activity
- Drill key accessible exploration targets
- Heart of surface CRD mineralisation – Prospect Mountain North
- Verify & extend historic drilling of Wabash area
- Williams Mine / Duke Banner Fault corridor
- Industry Tunnel – Fault corridor
- High grade Carlin – Prospect Mountain East
- Historic Homestake holes
- Gain greater understanding of structural controls of mineralisation through surface and underground mapping
- Explore and evaluate multiple other opportunities across the property
Some of the initial observations from phase 1 drilling at the Wabash/Williams area are:
- Two zones of mineralization, Williams and Wabash, have both been confirmed and extended by North Peak's first phase of drilling and remains open along strike and to depth.
- High grade gold is present (up to 56.4 g/t Au and 161 g/t Ag over 1.5m (5ft), see hole PM24-022 in the September 4, 2024 press release) of a similar style to historic mining and is still present in the area.
- Mineralization is more Carlin like in this area, with high silver arsenic antimony and lower lead and zinc compared to classic CRD mineralization elsewhere on the Property.
- North Peak's re-interpretation of the Wabash and Williams mineralization as steeply dipping, more continuous zones along structures, has been confirmed by the recent drilling.
- Historic vertical holes by EPAR are not ideal for steeply dipping structures and North Peak's angled holes are helping to demonstrate better continuity within the mineralization envelope.
- Twin holes have confirmed zones encountered in the historic drilling are present though high grade gold correlation is poor (nuggety gold – the correlation is very good of best grades to best grades). Initial indications (e.g. Hole PM24-004) suggest the Wabash and Williams zones connect at depth and open up the size potential of the deposit.
- The Wabash/Williams areas are one small part of the Property with many other targets still to test. Geophysical targets, rock chip targets, and areas with previous good drilling still remain to be tested across the Property.
(See news release dated September 17, 2024)
Summary
- An asset that historically delivered high grade material – now applying modern exploration techniques
- The Company has made significant progress unearthing wider potential of property by applying modern geophysics
- Plenty of key accessible drilling targets to progress
- Further expansion opportunities available
- External investment in neighbouring properties reinforces excitement about Eureka camp
- Experienced team with track record of successfully developing historic mines
* The Company can give no assurances at this time that the Prospect Mountain Mine Complex will fulfill the Company's business development goals described above.
Management and Directors
Brian Hinchcliffe, Executive Chairman and CEO
Mr. Hinchcliffe has been involved in the founding of mining projects in the natural resources sector for nearly 30 years working with Harry Dobson. Mr. Hinchcliffe is a co-founder of Kirkland Lake Gold Inc. (now Kirkland Lake Gold Ltd.) and served as its President and CEO. Mr. Hinchcliffe is also formerly the Executive Chairman and CEO of Rupert Resources Ltd. and co-founded American Pacific Mines.
Chelsea Hayes, MBA, Director of Business Development & Director
Ms. Hayes has been working as a marketing and communications advisor for over 25 years. She was a Founding Director of financial PR consultancy, Pelham Public Relations, growing it to a 40-strong, £6m business and advising technology, media, mining, and energy companies including Kirkland Lake Gold and Rambler Metals and Mining.
Andrew Dunlop, CPA, CA, Chief Financial Officer
Mr. Dunlop is a finance and accounting professional with over ten years of experience in the mining sector. He was previously the Corporate Controller of Discovery Silver Corp.
Gordon Chmilar, Director
Mr. Chmilar is a corporate lawyer with 20 years of experience and is the founder of Modern Finance Law in Calgary, Alberta.
Mike Sutton, Director; Geologist
Mr. Sutton's career spans over 40 years as an exploration geologist in Canada and internationally. Mr. Sutton was Chief Geologist at Kirkland Lake Gold where he was awarded the Prospector of the Year for Ontario (along with Stew Carmichael) for the discovery of the South Mine Complex. Mr. Sutton is also a Director at Galway Metals where he has significantly advanced the Clarence Stream gold project and a Director of Rupert Resources.
John Thomson, Director
Mr. Thomson was CFO at Kirkland Lake Gold. Most recently, he has built up a successful consulting business providing advice to institutional shareholders and management teams in the media, minerals, and technology sectors.
Ty Erickson, MD, Director
Dr. Erickson grew up in the Eureka and Ely, Nevada communities in a mining-oriented family. His father, Einar C Erickson, PhD, was a noted exploration geologist in Nevada for over 60 years, who acquired the Prospect Mountain Mine complex over 40 years ago.
On November 12, 2024, North Peak Resources Ltd. announced the assay results from holes PM24-036 to PM24-039 of the recently completed Phase 2, 15-hole surface drilling program from the Prospect Mountain North area within its Prospect Mountain Property (the "Property") in Eureka, Nevada. Highlights :
- PM24-039 intersected 22.9m (75ft) @ 12.0 g/t Au (with 6.1m voids @ 0 g/t Au), including 3.0m (10ft) @ 85.7 g/t Au; this hole targeted historical mining approximately 35m (115ft) northwest of previous drilling. PM24-039 ended in mineralization on a new western trend.
"Grade was king when the various Wabash area gold mines operated and the intersections at PM24-039 along with PM24-022 demonstrate these bonanza grades that the area is known for, are still there," said Brian Hinchcliffe, Company CEO. "Importantly, this intersection was on a new western trend, demonstrating the potential of this area for continued expansion."
This second phase of the drilling program at Prospect Mountain North was designed to follow up on earlier successful drilling, that had returned such intersections as hole PM24-022 at 27.4m (90ft) @ 7.0 g/t Au (with a 1.5m void @ 0 g/t Au) from surface, including 6.1m (20ft) @ 23.1 g/t Au which includes 1.5m (5ft) @ 56.4 g/t Au & 161.0 g/t Ag, and PM24-004 which intersected from surface 126.5m (415ft) @ 1.06 g/t Au which included 12.19m (40ft) @ 4.20 g/t Au (see the Company's August 14, 2024 press release). Previous drilling includes 27 RC drill holes by North Peak and 94 RC drill holes carried out in 1998/1999 by European American Resources (EPAR).
On November 06, 2024, North Peak Resources Ltd. has closed its previously announced non-brokered private placement for aggregate gross proceeds of $1,061,250. In connection with the private placement, 1,414,998 common shares of the company were issued at a price of 75 cents per common share.
The securities issued in connection with the private placement are subject to a four-month hold period from the closing of the private placement, in accordance with applicable securities laws.
The company intends to use the proceeds from the private placement to continue to explore and develop its mining assets, for the continued development of its business, and for general and administrative expenses.
On October 16, 2024, North Peak Resources Ltd. is amending the terms of its non-brokered private placement, previously announced on Sept. 30, 2024. The company now intends to issue up to two million common shares of the company at a price of 75 cents per share for gross proceeds of up to $1.5-million.
The company intends to use the proceeds from the private placement to continue to explore and develop its mining assets, for the continued development of its business, and for general and administrative expenses.
On October 08, 2024, North Peak Resources Ltd. received the permission to expand exploration zone, new area in prospect mountain east to be drilled targeting previous homestake hole.
The Bureau of Land Management (United States Department of the Interior) has approved North Peak Resources Ltd.'s application to modify the plan of operations (PoO) at its Prospect Mountain property at Eureka in Nevada, resulting in a 642-per-cent increase (to 189.9 acres) of the area on which the company can conduct surface exploration. This newly expanded surface exploration area now covers the main mountain ridge on the property, including the more accessible east side.
"This extension of the permitted surface exploration area allows drilling for gold mineralization across a wider area of the property than the original plan of operations exploration area covered," commented Brian Hinchcliffe, chief executive officer. "Drilling at Prospect Mountain East, targeting the historic Homestake hole and its mineralization intervals, is expected to begin shortly, as the four remaining holes being drilled in the Wabash zone should be finished this week."
On September 30, 2024, North Peak Resources Ltd. intends to complete a non-brokered private placement of up to 2,222,222 common shares of the company at a price of 90 cents per share for gross proceeds of up to $2-million. The company has the option to increase the size of the private placement by up to an additional 333,333 common shares, for total gross proceeds of up to $2.3-million.
The company intends to use the proceeds from the private placement to continue to explore and develop its mining assets, for the continued development of its business and for general and administrative expenses.
The private placement is subject to the approval of the TSX Venture Exchange. The securities issued in connection with the private placement will be subject to a four-month hold period, in accordance with applicable securities laws.
September 17, 2024, North Peak Intersects 2.9 g/t Au over 18.3m (60ft) and 2.0 g/t Au Over 13.7m (45ft) in Final Holes of Phase 1 at Prospect Mountain North; Second Phase of Drilling Commences
September 4, 2024, North Peak's Hole #22 Intersects Good Width and Grade Next To Historic Chicago Mine, 56.4 g/t Au Over 1.5m (5ft) Within 23.1 g/t Au Over 6.1m (20ft) Included In 7.0 g/t Au Over 27.4m (90ft) From Surface; Hole #21 Returns 1.49 g/t Au Over 53.4m (175ft) From Surface
August 27, 2024, North Peak Reports Wabash/Chicago Zone Extended By Strong Widths; Hole PM24-016 Intersects 1.9 g/t Au Over 135ft (Includes 3.9 g/t Au Over 60ft) and PM24-015 Returns 1.3 g/t Au Over 60ft
August 14, 2024, North Peak Reports Early Holes from the Prospect Mountain North Drill Program Return Surprising Widths; Hole PM24-004 Intersects 1.06 g/t Au over 415ft (126.5m) from Surface; Hole PM24-006 Returns 70ft (21.3m) of 2.03 g/t Au from 5ft Down