Impact: Neutral to Mildly Positive
Blackwolf completed its initial drill program targeting the Swann Zone on its recently-acquired Harry property located in the Golden Triangle of BC (read note). Seven holes (1,740m) were drilled from two pads, with each hole encountering significant mineralization. Notably, the sixth hole encountered coarse VG, including a ~10cm long streak at ~140m depth, and was drilled ~250m from a 2021 diamond drill hole completed by Optimum Ventures (Private) at the Swann Zone that encountered 1,437 g/t AuEq over 15.64m. Assays are pending and initial results are expected in the coming weeks. As we mentioned in our recent site visit report, we are optimistic that initial drilling results from Harry could be positive given the abundance of visible sulphide mineralization we observed at surface. These initial visual results reported by the company bolster our optimism and belief that the project is ripe for a potential discovery. Nevertheless, we remind investors that the observance of visual gold does not always translate to high-grade results.