Michael Ballanger of GGM Advisory Inc. shares his thoughts on Fitzroy Minerals Inc. after having a discussion with its chairman.
I had a great discussion yesterday with Fitzroy Minerals Inc. (FTZ:TSX.V; FTZFF:OTCQB) Chairman Campbell Smyth and CEO/Director Merlin Marr-Johnson who contacted me from Merlin's head office in North West London (UK).
Without going into details, subscribers should expect a deluge of information on the three main projects as a 3,000 meter program at Caballos and a 2,000 meter program at Polimet are being prepared. After consulting with Fitzroy Minerals Qualified Person, Dr. Scott Jobin-Bevans, and corporate consultant Gilberto Schubert, FTZ management decided to drill Polimet first due to its proximity to existing infrastructure and the presence of numerous copper and copper-gold mines. operations located between 1,000 and 1,600 meters above sea level.
In the graph below, it is worth noting that values above 2% copper (Cu) and above 16 grams per tonne gold (g/t Au) have been reported in mining operations such as Guanaco- Lazo, El Bronce, Pedro de Valdivica, and Santa Margarita, located immediately below Polimet.
High-grade mineralization is widespread in the area represented by the green shading, so it is evident that a well-constructed drilling program will have a high probability of encountering the mineralized envelope between 1,000 and 1,600 meters ASL.
As for the Caballos project, the company has learned that the multinational gold mining giant Newmont Corp. has requested permission to build a service road to his property and, once completed, it would significantly reduce costs from Caballos' budget, as expenses for renting horses and horse handlers have increased sharply in recent months. This could push the drilling program back until September (or longer), as it makes perfect sense to wait for road access before incurring unnecessary expense.
Finally, again, without going into too much detail, the Taquetren project, located in Patagonia, Argentina, is shaping up to be a very interesting gold project and is the immediate focus of the FTZ management team. I have always told my subscribers that the key to Taquetren was (and is) Daniel Bussandri, the local prospector/geologist who discovered Navidad, the 800-800 million ounce silver deposit currently owned by Pan American Silver after purchasing it for $640 million. in 2009.
The new gold showing shows potential in grade and scale, with the third key element being “continuity”, and this is precisely what the team will be looking to confirm when they get to work in the Patagonian Spring.
Fitzroy has a formidable team of managers and directors with extensive experience in all aspects of exploration and development. This is essential when investing in the junior resources sector, so keep this in mind as you read these press releases, all designed to help potential new investors minimize the likelihood of a major discovery and windfall .
Stay tuned.
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Important Disclosures:
- Michael Ballanger: I or members of my immediate household or family hold titles of: All. My company has a financial relationship with Fitzroy Minerals Inc. I determined which companies would be included in this article based on my research and understanding of the industry.
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Michael Ballanger Disclosures
This letter makes no warranty as to the accuracy or completeness of the data provided. Nothing contained herein is intended or should be considered as investment advice, implied or otherwise. This letter represents my point of view and reproduces the transactions I make, but nothing more. Always consult your registered advisor to assist you in your investments. I accept no responsibility for any loss arising from reliance on the data contained in this letter. Options and junior mining stocks contain a high level of risk which may result in the loss of part or all of the invested capital and are therefore only suitable for experienced and professional investors and traders. One should be familiar with the risks involved in junior mining and options trading and we recommend that you consult a financial advisor if you feel that you do not understand the risks involved.