New Placer Dome Gold (TSX-V: NGLD) CEO Max Sali on Aggressive Drill Campaigns at Bolo and Kinsley Mountain Projects & Ground Exploration at Troy Canyon Project in Nevada
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of New Placer Dome Gold (TSX-V: NGLD)(OTC: BARRD), Mr. Max Sali. Max, how the heck are you?
Max Sali: I'm fantastic, Gerardo. How are you doing?
Gerardo Del Real: I'm doing well. I imagined you'd be doing well, given that gold's at $2,060 here in the US and you have drilling going now on multiple projects. Your latest release provided a gold-silver exploration update on of course the gold-silver property Bolo. You announced some field work at Troy Canyon. Can we talk about each of those? You have a lot going on, Max.
Max Sali: You know what? We have a lot going on. We have a lot going on, all in Nevada. Bolo's an asset that we drilled last summer, a very successful asset. We were hitting over 1 gram per tonne oxide from surface to depth. We had a new discovery of 12.2 meters of 3.32 grams oxide at about 200 meters. What we did this year with the program, we wanted to go deeper, see if we could hit new discoveries at 300, 400 meters. We wanted to see if we could connect the two zones, which would connect the gold and silver zones. Five holes announced today are were finished, about 1,400 meters. How it works in Nevada, at least for our guys, is 20 days on and 10 days off. We went 20 days on with not one rig issue, doing unbelievable work, very efficient.
What the guys are doing now, while the drill rig is taking a break, is going over to Troy Canyon. Troy Canyon's an asset about 70 kilometers from Bolo. It's accessible by road. Essentially, if you get on the highway, you make a right and you're right there. Troy Canyon has some previous past production, some very high-grade gold samples. It's an epithermal deposit, more than Bolo, which is Carlin-style. Early stage, but a lot of exciting stuff for us on that project. So we're being very efficient with our time in Nevada, working on that. We hope that these results from Bolo will be shipped out of the lab tomorrow. We're expecting results from Bolo early September.
Then on Kinsley, which is our beast, the RC rig is on there right now drilling. We started drilling on the weekend. Things are going very well. We also have a core rig arriving probably next week too, along with the big rig. We're going to have, at the end of the day, three rigs on Kinsley, one rig on Bolo. That's four rigs in Nevada, drilling when gold is hitting all-time highs. So I'm very excited about what's going on, and we're working as efficiently as we can.
Gerardo Del Real: Let's talk a bit about why three rigs at Kinsley. I know initially the plan was to have the RC rig. Then you'd come in and you'd do some diamond drilling. It sounds to me like you're getting a bit more aggressive there, which of course, I welcome. As you know, I have a history with the property. It's a project that I've been excited about for years. I'm excited that New Placer Dome Gold is finally giving it a proper test. But why three rigs this early in the program, Max?
Max Sali: When the market's doing what it's doing, why not? We have the money. We have the money to go and do it, and the core rig became available. We decided to take it. Like you said, excited about Kinsley. When you look at the numbers that Kinsley pulled out in 2013, which was 42 meters of 11 grams, 22 meters of 18 grams. We even had 5 meters of 46 grams. Imagine that in this market.
Having three rigs allows us to be more aggressive. Like I said, we have the money to do so. So, why not? I don't know why anyone in this market would not be taking the full opportunity with an asset like Kinsley.
Gerardo Del Real: I keep repeating to close colleagues of mine that there's two types of CEOs right now. There's those that are traumatized by the bear market, that we are now out of, and are still acting cautiously. And there's those that understand that we are likely in the very early innings of what I believe will be a historic gold bull market. It's really, really reassuring – and has to be for New Placer Dome Gold shareholders – to hear how aggressive the company is being. The bottom line is if you don't get the truth machine out there, you can't make significant discovery. So credit to you and the team, Max.
Max Sali: Someone told me a long time ago, the best way to ruin a good project is to drill a hole. For us, all we're doing is drilling. Like you said, the truth machine. We want to make sure that people understand that Kinsley has a lot of significant upside. We are an aggressive company. We're energetic. I'm very bullish on the price of gold. I wake up every morning, just eager to get to the office and get working. Every day, I talk to my technical team for updates because I'm as excited as you or any other investor. We have an opportunity and we are taking it.
Gerardo Del Real: Max, thank you for the time. I'm looking forward to having you back on to get further updates. It sounds like September is going to be a heck of a month, as far as drill results go, on multiple projects.
Max Sali: Yes, sir. Thank you for your time.
Gerardo Del Real: Thanks again.