The maiden drill program at the South Uchi project in the Red Lake district of Ontario is significant, involving an $8 million funding agreement with Auranova Resources (private company), encompassing up to 15,000 meters of drilling. Zach outlines the systematic approach being taken to explore one large, over 6km, target. This will be the first drilling ever on this project.

 

We also delve into the Frotet Project in Quebec, owned by Sumitomo Metal Mining, where Kenorland holds a 2% NSR royalty. This program is a 23,000-meter winter drill program aimed to further define the Renault gold system. Zach explains the goals behind this drilling, including infill operations to support a potential maiden resource estimate. 

 

Additionally, we discuss Kenorland’s broader asset portfolio, including upcoming maiden drill programs funded by partners such as Centerra and Newmont, and extensive exploration plans in the James Bay region and Northwestern Ontario.

 

Financially, Kenorland is well-positioned with an approximate budget of $36 million for the year, of which around $30 million will be funded by partner companies, and around $25 million in the bank.