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Palisades Gold Corp

TSXV:PALILive AI agent

Palisades Goldcorp is a leading junior resource investment company that provides investors with unmatched leverage to junior resource equities.

Investor website: https://palisades.ca/

About

Palisades Goldcorp is a leading junior resource investment company that provides investors with unmatched leverage to junior resource equities. The company holds equity and warrant positions in over 100 companies across various sectors including gold, silver, copper, lithium, critical metals, and uranium, positioning itself as a vehicle for capitalizing on the upcoming junior mining bull market.

Verified company data

Cash position
$15,000,000 - $25,000,000
Shares outstanding
9,985,333
Fully diluted shares
12,685,333
Mineral resource
The Sangihe gold-copper project is located on the island of Sangihe off the northern coast of Sulawesi and has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of Gold as reported in the Company’s “Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia” dated May 30, 2017. Only 10% of the gold bearing area has been explored. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company’s 70-percent interest in the Sangihe-mineral-tenement contract of work (“CoW”) is held through PT Tambang Mas Sangihe (PTTMS). The remaining 30-percent interest in PTTMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is for 30 years upon commencement of the production phase of the project.
Projects
["New Found Gold Commences 100,000-Meter Drill Program at Queensway Project, Newfoundland\n\n**Vancouver, BC – August 17, 2020, New Found Gold Corp.** (“ **New Found**” or the “ **Company**”) (TSXV: NFG) is pleased to announce it has commenced drilling at its Queensway Project, located in Central Newfoundland.\n\n**Highlights:**\n\n- Diamond drilling commenced at the Little/Powerline Zone, along the Appleton Fault Zone, on Monday, August 17 (see Figure 1).\n- An initial six holes (800 m) are planned at the Little/Powerline Zone to follow up on surface mapping and sampling including a channel sample of 18.6 g/t Au over 7.5 meters.\n- Following completion of the initial six holes at Little/Powerline the first drill will be moved to the Keats Zone to follow up on the discovery intercept of 19.0 m of 92.9 g/t gold starting at 96 m down hole. An initial 12,000 m of drilling is planned at Keats.\n- The Company plans to ramp up to 4 drills by the end of September resulting in approximately 2,000 m per week of core production.\n- Drill plans are now developed for seven additional gold bearing targets: 1744, Pocket Pond, Logan/Lochlan, Zone 36, Lotto, Road, and Cokes Zones (see locations on Figure 1).\n- Recent trenching has uncovered new mineralization in three areas with one new zone (Zone 36) demonstrating visible gold coincident with mineralization and textures typical of epizonal type mineralization. Zone 36 is located 2.5km north of discovery hole NFGC-19-01, along the Appleton Fault structure (see Figure 1).\n\nCollin Kettell, Executive Chairman of New Found, stated: “We are excited to begin our 100,000 m drill program at Queensway. Historical exploration has confirmed there are multiple near surface high-grade gold targets along 5 km of the Appleton Fault Zone trend and we are planning to grid drill much of this 5 km long target area.”\n\nCraig Roberts, P.Eng., Chief Executive Officer, stated: “New Found is well advanced with the logistical infrastructure to support this major drilling program. We have purchased a seven-thousand square foot warehouse in Gander for core logging and processing and are outfitting it now. Additionally, we are finalizing the purchase of a one-acre industrial site where we will install core storage sheds. Our 30-plus person exploration team has been working in the field since June to advance and refine targeting ahead of the drill program.”\n\n**Little/Powerline Zone Target, Appleton Fault Zone**\n\nThe Little/Powerline Zone was discovered by trenching in 1999 based on soil geochemistry and prospecting. The zone is defined by a 400m long soil anomaly with some of the highest soil values on the Queensway North area with up to 3,840ppb Au.\n\nChannel sample results from 1999 include **18.6 g/t Au over 7.5m and 3.0 g/t Au over 7.0m**. Mineralization occurs within and along the margins of several parallel vein sets with up to 15% sulfide mineralization (arsenopyrite and pyrite). A new trench was recently completed at Little/Powerline by New Found extending the surface exposure of the zone by 35m. The zone shows considerable width of mineralization with good continuity along the 70m of strike exposed by trenching to date. A strong EM conductor coincident with the veining extends for over 200m north of the surface exposure following the high gold in soil anomaly (see Figure 2).\n\nThe drilling now underway at the Little/Powerline Zone will initially test this target over 200m of strike length.\n\n**Planned Drilling on other Appleton Fault Zone Targets**\n\nFollowing the completion of six holes at Little/Powerline the drill will be moved to the Keats Zone to follow up on hole NFGC-19-01 drilled by New Found in late 2019. NFGC-19-01 intersected 19.0 m of 92.9 g/t gold starting at 96 m down hole (this intercept has an estimated true width of 70%). Drill targets and plans are now also developed for the 1744, Pocket Pond, Logan/Lochlan, Zone 36, Lotto, Road, and Cokes Zones (see Figure 1 above). Drilling will proceed sequentially on these targets as additional drills are added.\n\n**Appleton Fault Zone Trenching Program**\n\nStarting in early July 2020 the Company began with the excavation of surface targets along the Appleton Fault Zone. To date eleven trenches have been opened-up with overburden cleared to allow geological mapping and sampling. Several new zones or extensions of mineralization have now been exposed: Zone 36, Regular Trench, Hornet, Little, and Road.\n\nIn late July, the Company exposed a new vein with over 120m strike length, named Zone 36. It comprises a north-west trending set of two parallel veins west of the Appleton Fault primary EM contact. Chalcopyrite, arsenopyrite, pyrite, boulangerite and visible gold have been found along the veins, with some areas exhibiting mineralization and textures consistent with epizonal style mineralization.\n\n**Covid-19 Protocols**\n\nThe Company has strict Covid-19 protocols including a 14-day mandatory isolation on arriving on the island. A significant portion of New Found’s operating personnel are from Gander. New Found is renting two houses in Gander for staff who are not locally based. The Company is focused on hiring locally and does not allow fly in, fly out arrangements for outside personnel.\n\n**QA/QC**\n\nTrue widths of the new exploration intercepts reported in this press release have yet to be determined but are estimated to typically be 70%-80% of reported core lengths; all channel sample true widths are estimated to be close to the reported widths. Assays are uncut, and calculated intervals are reported over a minimum length of 2 metres using a lower cutoff of 3.0 g/t Au. All HQ core assays reported were obtained by either whole sample rock metallic screen/fire assay or standard 30-gram fire-assaying with ICP finish at ALS Minerals in Vancouver, British Columbia. The whole sample metallic screen assay method is selected by the geologist when samples contain coarse gold or any samples displaying gold initial fire assay values greater than 1.0 g/t Au. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assays.\n\n**Qualified Person**\n\nThe technical content disclosed in this press release was reviewed and approved by Greg Matheson, P.Geo., Chief Operating Officer and a Qualified Person as defined under National Instrument NI 43-101.\n\n**About New Found Gold Corp**\n\nNew Found holds a 100% interest in the Queensway Project, located 15 km west of Gander, Newfoundland. The project is intersected by the Trans-Canada Highway, is located just 18 km from Gander international airport, has logging roads crosscutting the project, has high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. With working capital of approximately C$75 million the Company is well financed for aggressive exploration with an initial planned drill program of 100,000 meters. New Found has a proven capital markets and mining team with major shareholders include Palisades Goldcorp (33%), Eric Sprott (18%), Novo Resources (11%), Rob McEwen (7%), other institutional ownership (8%), and management, directors and insiders (4%). Approximately 65% of the Company’s issued and outstanding shares are subject to escrow or 180-day lock up agreements. Please see the Company’s website at [www.newfoundgold.ca](http://www.newfoundgold.ca/) and the Company’s SEDAR profile at [www.sedar.com](http://www.sedar.com/).\n\n**Acknowledgments**\n\nNew Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.\n\n**Contact**\n\nTo contact the Company please visit the Company’s website at [www.newfoundgold.ca](http://www.newfoundgold.ca/) and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.\n\n**New Found Gold Corp.**\n\nPer: “ _Craig Roberts_“\n\nCraig Roberts, P.Eng., Chief Executive Officer\n\n**Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.**\n\n**Forward-Looking Statement Cautions:**\n\n_This press_release contains certain “forward-looking statements” within the_meaning of Canadian securities legislation, relating to further the exploration_and drilling on the Company’s Queensway gold project in Newfoundland._ _Although the Company believes that such statements are reasonable, it can give_no assurance that such expectations will prove to be correct. Forward-looking_statements are statements that are not historical facts; they are generally,_but not always, identified by the words “expects,” “plans,”_“anticipates,” “believes,” “intends,”_“estimates,” “projects,” “aims,”_“potential,” “goal,” “objective,”_“prospective,” and similar expressions, or that events or conditions_“will,” “would,” “may,” “can,”_“could” or “should” occur, or are those statements, which,_by their nature, refer to future events. The Company cautions that_Forward-looking statements are based on the beliefs, estimates and opinions of_the Company’s management on the date the statements are made and they involve a_number of risks and uncertainties. Consequently, there can be no assurances_that such statements will prove to be accurate and actual results and future_events could differ materially from those anticipated in such statements._ _Except to the extent required by applicable securities laws and the policies of_the TSX Venture Exchange, the Company undertakes no obligation to update these_forward-looking statements if management’s beliefs, estimates or opinions, or_other factors, should change. Factors that could cause future results to differ_materially from those anticipated in these forward-looking statements include_risks associated possible accidents and other risks associated with mineral_exploration operations, the risk that the Company will encounter unanticipated_geological factors, the possibility that the Company may not be able to secure_permitting and other governmental clearances necessary to carry out the_Company’s exploration plans, the risk that the Company will not be able to_raise sufficient funds to carry out its business plans, and the risk of_political uncertainties and regulatory or legal changes that might interfere_with the Company’s business and prospects. The reader is urged to refer to the_Company’s reports, publicly available through the Canadian Securities_Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR)_at www.sedar.com for a more complete discussion of such risk factors and their_potential effects._"]
Leadership
Collin Kettell (Founder & CEO, Founder of New Found Gold Corp., Palisades Goldcorp Ltd., Nevada King Gold Corp., and Made in America Gold Corp. Raised over $500-million for mineral exploration.), Philip O'Neill (COO, Leads MP1 Capital, previously Director and COO of Palisades Goldcorp Ltd.), Jeff Stieber (CFO, 19 years of expertise in finance and accounting, previously senior executive at multiple mining companies.), Collin Kettell (Chairman, Founder of New Found Gold Corp., Palisades Goldcorp Ltd., Nevada King Gold Corp., and Made in America Gold Corp. Raised over $500-million for mineral exploration.), Gregor Gregersen (Independent Director, Founder & CEO of Silver Bullion Pte Ltd.), Elizabeth Harrison, KC (Independent Director, Former Partner at Farris Law LLP, legal expert in corporate finance and securities.), William Hayden (Independent Director, Geologist with over 38 years of experience in mineral exploration.), Douglas Macgregor (Independent Director, Colonel (Ret.) with 28 years in the U.S. Army, military strategist and author.), Nathan Lavertu (Operations, 7+ years in commercial real estate, Marine Corps Veteran.), Ashley O’Neill (Associate, Analyst focused on investment research in junior mining.), Stijn Schmitz (Palisades Gold Radio, Experienced in capital markets and commodities sector.)

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