Transcript
Automated transcript · Written by software from the replay's audio. It can mishear names and figures; the replay is the record.
0:00 Hello everyone, we are back for another Blue Jay Gold update. As usual, we are joined by CEO Cordy Mark for a brief fall update. Now I've gone and prepared some questions, but since this is a live event, we want to let you guys in the room ask some questions, so please use the chat function at the bottom of your screen to ask questions during the event and we'll get to as many as we can. As always, this event is being recorded and will be available for replay shortly after we conclude. That Jordy, welcome. Let's start off. Let's talk about SC26003,
0:31 which confirmed mineralization more than 30m down plunge of a hole you drilled back in 2021, with essentially the same width and grade. What does that kind of continuity tell you about the scale potential of the Rainbow Zone and How far do you think it could extend? Great question. And thanks for taking the time today, Kyle. And welcome, everyone, for listening today. Hole 3 for this year, first batch out of the gate. We started drilling later in June, so it's pretty quick to get those results in and out of the lab. So very excited by the results and the results are important for you know 3 main reasons in terms of great grade and interval. The consistency that we're starting to see sort of build out just on this one zone out of many is critical to be able to show the significance of the hydrothermal system that formed that and the dilation structures that host mineralization.
1:28 Why is that important? So we see this now from surface continuously down to about 400 meters vertical depth. The grade distribution, brilliant, you know, you're 14 metres at 8 grams gold equivalent or, you know, 10 metres at 10 grams gold equivalent and you see consistency between holes, you know, more than a tennis court apart, you know, a couple of stope levels. The thing for that, for me, means it's lots of confidence to show that if you're over 400m, these types of intermediate sulphur-dation, high-grade Gold, high-grade Silver systems can have vertical highs more than 1km. And with a resource already with a strike length around 1km or more, we've got a great potential, we think, to be able to not only drill to depth, but also continuously drill laterally to show size.
2:19 So love it. Size, grade, growth potential, nice step out and gives great confirmation in terms of what we saw, what we thought the potential was to grow the system. And your very first hole at Mt. Skookum returned a high-grade intercept right on the site of the old mine that produced Gold in the late 1980s. How meaningful is it to see a grade beyond Skookum Creek this early? And what does it say about the system across the wider property?
2:48 Look, when we look at the Mount Skookum in production in the 80s, high-grade Gold and Silver, very nice grades, good intervals. This is a low-sulfidation epithermal system. This is a little bit different to Skookum Creek, which we had in Hole 3, which is a high-grade intermediate sulphuration system. For me, grades are great. Brilliant quartz, argillaria, epithermal gold system, nice textures, all the right things for that type of system. When we step back I think what we see more so is that you've got a very large mineralized district. You've got in your geology showing several kilometers of vertical displacement or vertical height of epithermal systems.
3:36 So near surface is where the high-grade results were at Mount Skookum, north of 54 grams, and then you come through the crust, deeper into the into the crust, seeing the high-grade Gold-Silver systems at Skookum Creek. So for me, you've got a very large plumbing system that stretches across the 20, 25 plus K sort of project width on a very large project area, 170 square kilometres. So we think it really shows a manifestation of multiple systems working at the same time during the EOC that stretch across a large-scale district. And by district means that has the potential to produce multiple deposits. We started to see that with Mount Skookum being in production in the eighties, Skookum Creek developing
4:28 a good resource base that we think can grow. And then on top of that, the whole eastern 0.5, you've got high-grade gold and antimony way out to the east. So love it. It just really reinforces the high-grade nature of production in the 80s with that hole, but also it's part of that mosaic component of putting the geological story together and saying, well this is a large-scale system with lots of plumbing, lots of fluids and good grades. You've now run roughly 18,000 meters of historical core through the hyperspectral scanner and describe it as a vectoring tool. Why don't you walk us through how that alteration model is actually changing where you point the drill? Yeah, I mean, critical to us was we got gifted a core archive and a history on the project of the production of the 120km of drilling.
5:22 Today we have next generation tools to be able to examine and leverage off that drill core database to be able to quickly assess and log things that geologists couldn't do in the past. And hyperspectral information that's short wavelength and mid-wavelength spectral analysis and data gathering gives us far more detail than the human eye can see, but it does it quickly. We're doing 1,000 metres a day. It's great to be able to leverage off the archive that we have, improve our understanding of the geology, alteration, understand more about plumbing systems, and we've already defined new vectors towards mineralisation. We've got patterns in there that we can look at mineral chemistry that define alteration patterns 70 to 90 metres away from the actual mineralization at Skookum Creek.
6:15 We can start to see that sort of coming in earlier. And we think ultimately from what we've seen, there's potential to automatically change some of the drill plans to target areas where we think they've come up short in previous drilling because they didn't have this information. So it's very exciting to be able to elevate exploration. That was part of our plan coming in on a historical exploration program that was sort of episodic in nature and wasn't consolidated until not that many years ago. So fantastic to have this new data. It's quick to gather, it's cheap, but it gives you the sense to be able to, we can now see things that other people can't. In fact, that 18,000 meters was completed in the first few weeks coming out. Now they're back in logging right now and they'll double that coming through.
7:03 This is the thing that builds understanding, it builds support for this is a large-scale system and we're able to improve our understanding in terms of where we should target next. I mean the simple stuff is let's go extend the zones of mineralization that we have and step out. But give you an example. Skookum Creek, that's 1 kilometer, 1.2 kilometer zone. That zone is within a 10 mile structure that has outcropping mineralization across it and we see continuity of structures that host that now with the magnetics. So with the new data that we're getting from hyperspectral work, we're able to assess commonalities in alteration patterns to be able to target other areas. So it gives us scalability beyond the zone that we're specifically looking at with high grade that we reported in 03.
7:55 So for us, that's the gives us the ultimate longevity component in terms of this is a large scale system. Skookum Creek is a structurally controlled corridor and there are other outcropping mineralization of similar styles along it that we can look to examine and be more targeted in terms of what we're looking at. What are the criteria that go towards making an excellent target in the future? So for us, it just keeps giving in terms of the fruits of the labor coming out of historical enterprises and drill core archive. Let's use those to our advantage. I want to push back a little bit because for people that don't know, it's a 170 square kilometre land package. Several target areas, like you said, and you're just getting more with the data. How are you prioritising where the drill goes for the rest of the year? That's a great question. We take a framework year. This is what it is.
8:48 Coming into a new thing, We saw a new project. We saw opportunity. We saw there's multiple areas of mineralization and we look to target those 2 in
8:58 the drilling program that we designed to better understand what they look like, where the step out targets for resource expansion are, and gathering new structural and alteration data to go, this is what the system is, this is how the system looks, this is how we can understand these things better. It's always you want to continuously improve your understanding so you can target extensions of what you have, but go, well, elsewhere on this property we've got this other zone that looks exactly the same. So we can grow that. 170 square kilometres is not a small area either. It's kind of you add in Zurich and you put down Hamhattan together and there you go. That's large, but you have to be focused. So for us, we think of what we've seen so far already, we can show more and more focus.
9:46 We think there's going to be more and more concentrated effort, specifically on the Skookum Creek structural corridor going
9:52 forward. Given the grades that we've seen, the returns that we've seen on growth and the work that we're seeing in the geology and the alteration patterns, We can really focus on this zone, predominantly in the near term for drilling throughout this year and next year, but also allocate that component of, let's also try to put everything in the regional context so we can improve our understanding as we go forward. But yes, we've got to have focus. And our focus is, we want to discover more ounces. And the most ounces that you find usually are already around existing resources. So let's use that opportunity to go, Skookum Creek already has good resource space. It's got grade. We've extended that beyond current drilling or historical drilling already.
10:39 That's a large envelope that's 10 miles long. We know we've got focus within that 170 square kilometre package. Let's go and really double down on that and look more in terms of that. So you've got to have that focus. You're right. One more question before we do a little pivot here, but just to wrap it up nicely, what should the market expect in terms of news flow and results over the balance of 2026?
11:05 Yes, we expect to continue drilling through October and keep going as long as we can. And with that in mind, we only just started reporting results. So expect results to continue to flow throughout the remainder of this year and early next year, expect those into probably late January. So you've got a catalyst-rich period there for outputs from drilling. One thing I noticed and was interested in besides Gold and Silver, you've been drilling the Becker Cochrane Antimony occurrence and kicked off metallurgical work there even. Where does Antimony fit into the Blue Jay story? And is that a standalone opportunity or a complement to the Gold?
11:47 I think it's a complement to the Gold and it's a component that really fits within a large scale magmatic hydrothermal system. You've got lots of heat, fluids and metals pumping around and of course you're going to get the deposition of different components there. So you've got that at Mount Skookum, you've got high-grade Gold. Skookum Creek, you've got high-grade Gold and Silver, Silver-Gold. As you bleed out, you'll get antinomony in the lower temperature parts of a large system. So antinomony to us, while it's an add-on, we're still focused on expanding high-grade gold resources, but we can't ignore it. When we acquired the project, physically got on ground more, we were able to tease out more physical maps in the geological offices.
12:32 It seemed fantastic the level of detail in the 60s that operators had in their underground workings, the channel sampling across these high grade and tsunami occurrences. Indeed, they got so far in terms of putting out more than 10 tonnes of material from the area and they did their own conventional flotation work. For us, it's a great opportunity to sample material, to look to improve on historical attempts for processing work, because we've come a long 60 years in processing. So we've certainly migrated the edge there in terms of engineering to be able to understand better. They produce brilliant results. Then, let's go and look at that quite easily. Go to surface, look at the surface extension of those underground workings, trench across the veins that look to be continuous, and take the material out. We put 400 kilograms straight to ALS to do a real targeted piece of work on the antinomony.
13:35 That's important because why knock back any free upside that you can see? In particular, 1 in which has already historically developed a whole bunch of attention, which warranted up to 500 metres of underground development and metallurgical work. So we looked at that in a market where North American, in particular, and downstream metal producers really are screaming for North American antinomial supply. So there's an end-to-end solution there, a mine to metal solution that could be provided from a project that has great infrastructure and is only 60km as a crow flies from the port of Skagway. So can't ignore the opportunity, put a level of effort in there, but it's certainly not our core focus, which is gold. Right.
14:29 Now, You listed on the OTCQB in August and framed it as being about audience and reaching US investors. Now, I know it's only been a month so far, but how has that broadened your reach so far?
14:40 And what's the plan to keep getting the story in front of new investors through this year and into next? Look, we are only a new story, really. Our initial listing in June the 4th, and then coming out to the US just not only a few weeks ago. So yes, I think the main component is a drive and a continuous awareness in terms of into North American markets. And the key component for that was to, as you broaden your outreach to potential investors who are interested in safety jurisdiction high-grade assets with infrastructure advantage, make it easier for them to invest in the equity. So either through Canada, and as you're reaching into the world's largest economy, you want to have a vehicle in which they can make it easy for them to invest also. So we're only in the early stages, a few weeks into that, and we'll continue to broaden and increase our outreach into North American investor markets, retail investors, the underworth individuals and various other family offices. So there's a very clear and progressive sort of reach out campaign there.
15:57 Last question for you, Jordi, and then we can wrap it up here. But you described 2026 as a framework year and you're collecting oriented core for the first time in the property's history. What does laying the groundwork now set up for Blue Jay heading into 2027? The framework year really was a great opportunity to be able to test our thesis around geology, looking at resource expansion targets, getting core new information to elevate future exploration on top of that. So structurally oriented core was a big component of that. Getting the spectral work was big. Integrating the three-dimensional pictures with geophysics. All of those components elevate future targeting. That for us already, as I spoke about a little bit before, enables us to concentrate and show where concentration should be put into future years in terms of 2027. In that sense, the Skookum Creek structural corridor to the south and to the north of the deposit itself should be a main focus of 2027.
17:07 Good grade gold, good grade silver, very high grades of continuity that we've seen in the hole 3. Let's keep examining that and then just compound our knowledge through further drilling and just potential discovery of new zones. So that's kind of the idea of a framework where you brace the program to understand where your geology is, heighten your geological understanding, and then become more clear cut in terms of cutting down the footprint that you want to focus on in the near term. Great. Robert, thank you for the update. Looking forward to more to come. For people that joined a little late, this has been recorded and our team will have the replay available shortly after we conclude here, I'd say about in a couple of hours. But when I close off here, there will be a meeting request. So if you'd like to meet with Jordi or the team, just hit that meeting request button and I'll be happy to pass along that information.
17:59 Jordi, thank you again. Great. Thanks to John. Welcome everyone, and thank you. Bye now.
