Darcy Marud, the CEO of Western Exploration Inc. (TSX-V: WEX), joins GoldSeek TV in Zurich to talk about their high-grade gold-silver projects in Northern Nevada.
The 100% owned Aura gold-silver project contains 1.32M gold equivalent ounces over three deposits: Doby George, Gravel Creek, and Wood Gulch
The company went public in 2022 but has a long history. It was a privately formed company in 1997 when it first acquired Doby George followed by Wood Gulch which led to the Gravel Creek discovery in 2013.
The project has been put together over a longer period of time, which now culminates into 61 square kilometers, all contiguous, power within about five kilometers of the project, two permitted water wells and three kilometers from a paved highway.
Major shareholders include Golkonda (since 2013), Agnico Eagle (14% ownership) and Auramet, so very large and strong institutional holdings with just under 44 million shares outstanding with several million dollars in the treasury to advance the project.
Darcy joined the company in 2018 and decided to go public in 2022 and focus on the high-grade discoveries at Gravel Creek – a very high-grade, low-sulfidation deposit with room to grow. Since 2022, Western Exploration has been focused on high-grade gold and silver veins, which are adjacent to the current Gravel Creek resource. The company did two-drill holes in 2023 to check how the rich the gold-silver veins connect -- and now Western is now drilling along strike. There is a lot more room to grow!
What makes this project potentially much larger? Darcy gives us some insights into other large, economical gold deposits in the area.
What is next for the company? Darcy says the company will continue to look at the current drill results, build a geological model which will help guide us into 2025 with our drilling.
Western Exploration recently attracted a strategic investor, for $1.7M, and the funds are being specifically placed towards completing a PEA at the end of Q1, 2025 which will then lead to a pre-feasibility late 2025 into possibly 2026.
How big is the gold-silver resource? Darcy gives us some insights into the potential for much more growth at the exciting Aura project in Nevada.
To earn learn more about Western Exploration Inc., please visit: https://www.westernexploration.com/
This interview was filmed on November 12, 2024 in Zurich, Switzerland.
Disclosure: Employees of GoldSeek.com are shareholders in Western Exploration Inc.
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