Borealis Mining Hits The Ground Running As A Newly Listed Junior Gold Company

I wanted to share this video because it is a great presentation for those interested in learning more about Borealis Mining (sponsor, see disclosure below). There are some things that stand out in it that I wanted to mention because it helps show what I have been talking about since I started reporting on Borealis Mining.

Everybody that follows my reporting knows that first and foremost I am all about the rocks. What initially got me excited about the company is the 20 square mile alteration zone on the property. It is one of the biggest in all of Nevada, as I and others in the mining sector like to say, “big systems leave big footprints” and I would add that Borealis Mining has a massive footprint.

When metals bearing fluids interact with the country rock, it chemically alters the rock and leaves an alteration zone. The next trick is you need to confirm with drilling using the Truth Machine that the alteration has a deposit of metals below it.

This is where the video really helps the viewer visualize what I’m talking about. As you are watching you are going to see open pits with large areas of alteration in the pits. That alteration in the pits is the same as the 20 square mile alteration zone that goes along the ridge beside the pits.  

I have also mentioned in past reports that Borealis Mining can use the small Truth Machine (the drill rig) and the big Truth Machine (the mine) for growth.

The alteration in the pits tells a great story about the prospectivity of the massive alteration zone that has only seen drilling on around 10% of it. Plus, it shows the alteration continues below the surface. Most importantly, it is beyond a shadow of a doubt that the alteration is associated with gold that was previously mined when gold was much lower in price.

If that isn’t already fantastic details about the rocks, I would point out that the biggest pit that was mined, also had the highest grades of gold of all the pits on the property. Here is the golden kicker, the big pit is to the side of the alteration zone in the area with thin alluvial cover.

The alteration zone on the ridge is already massive, but the biggest and highest grade pit you will see in the video, extends the area of prospectivity well out into the alluvial covered area.

When I was initially doing my homework on the Borealis project, I read a paper that compares it to South America’s best gold mine, Yanacocha. I have heard plenty of comparisons like this over the years and I always dig deeper.

So I fired up one of my favourite exploration tools, Google Earth, and zoomed in on Yanacocha. The first thing I saw was a huge alteration zone. The second thing I saw was a group of open pits that mined the oxide zones contained within the alteration zone. Then I measured the area that contained the alteration zone and pits.

With that information I went back up to the Borealis Mining’s project in Nevada to compare the dimensions. Sure enough, the Yanacocha footprint of alteration and pits, fits nicely within the Borealis alteration zone along the ridge. I didn’t even need to extend out into the alluvial covered area.

I love it when I can easily confirm the comparables on a project. Usually, actually almost never, does it work that way. Often, there is a lot of arm-waving and hopium in the comparables.

Please understand that this doesn’t mean that I think Borealis Mining has a Yanacocha in Nevada. All I’m saying is that the comparison that I read about in the paper is not pie in the sky.

For Borealis Mining to be a success they don’t need to have a Yanacocha in Nevada. If they had a Mini-Me of a Yanocacha in the best mining jurisdiction in the world for gold mining, I would be a happy camper. Based on the papers I have read, the geology, historical drilling and past mining, I can honestly say that I can’t rule out that they could have a lookalike to Yanacocha in Nevada. 

The bottom line is that you don’t get people like Tony Makuch (of Kirkland Lake Gold fame), Bob Buchan (founder of Kinross) on the board as a private company unless they thought very highly of the project. It is all about the quality of the project to them and the other board of directors that are also extremely accomplished mining company executives as well. To these people, it is all about the rocks.

The shareholder register also has Eric Sprott on it as well, he is a legend as an investor in mining companies. A good chunk of his wealth was made due to his investment into the Fosterville Mine. 

When Kirkland Lake gold was mining Fosterville, they were one of the lowest cost gold miners in the business that was mining high-grade gold and making remarkable free cash flow. Ultimately, this led to them merging with Agnico Eagle for nearly C$14 billion. This was a lucrative transaction for all concerned shareholders including Eric Sprott.

He became a significant shareholder of Borealis Mining just prior to it going public. For him, it is about the gold mining and gold exploration potential at Borealis Mining.

Several months before Borealis Mining went public, Rob McEwen was given a presentation of Borealis Mining. He has plenty of experience in Nevada and his geological team knew about the Borealis Mining project. 

Shortly after hearing the story from management, he quickly decided he wanted to take out the vendor’s shares (Waterton) completely. That transaction was consummated and closed quickly, resulting in Rob McEwen becoming Borealis Mining’s largest shareholder. 

It is fair to say that all of the key people from the board to the big shareholders, don’t get involved in a private company unless the project is a top quality gold project.

When talking about Borealis Mining, I have mentioned that they are the best prepared private company for success as a public company I have ever seen in the 30-year career in mining.

The video below will help you understand why I have the conviction to come to that conclusion. I would love to hear your opinions of whether or not you agree with me.

Allan Barry Laboucan

Disclosure

Borealis Mining is a sponsor of Rocks And Stocks News, content creation about them is for the benefit of the company. Sponsors also benefit readers of the reports as it makes content creation possible for no charge to readers. Allan Barry Laboucan is a shareholder of Borealis Mining shares and a consultant to the company.

Rocks And Stocks News does not make buying or selling recommendations. The reports are for information purposes only. Sponsors pay a fee to Rocks And Stocks News for content creation. The business model of Rocks And Stocks News is to fund research and reporting on the sector, picks and sponsors through corporate sponsorship. We are thankful to sponsors for enabling commentary free of charge to readers and viewers of the reports. When reporting on sponsors it is on behalf of the sponsors discussed in the portion of the report mentioning the sponsor. Before making any investment decision it is important for you to speak with your financial advisors to consider your risk profile. It is also important to do your homework. To help in that process, Rocks And Stocks News means to be a gateway by doing reports and interviews of management of sponsors and picks. The reports and interviews should not be considered investment advice. Allan Barry Laboucan is the founder and owner of Rocks And Stocks News, he has worked in the mining sector since 1993 and has been reporting on the sector since 2005. He has worked with and been mentored by very talented geoscientists in geology, geochemistry and geophysics. He uses the skills he has picked up during his career to assess sponsors and picks in the reports. Whether a company is a pick or a sponsor they go through the same filter and are reported on when important news is made that Allan Barry Laboucan wants to discuss on the Rocks And Stocks News platform. He may own shares in sponsors and picks for investment purposes which he discloses when discussing them in the reports.