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0:27 As always, the summit is being recorded and will be available on Six.com and YouTube to watch afterwards. So without further ado, I'll hand things over to you, Brian. Thanks very much, Kyle. And thanks very much for everybody for joining today. Today I'm going to review our drill release from yesterday, the market and talk a little bit about our activities in Timmins. TFT Resources, we trade on the TSX and the OTCQB as well. And for those of you that don't know, TFT, going for gold or a gift from God. Before I go into the presentation, I'll just review our cautionary language. Please be cautious. I will make forward-looking statements. I'm an explorationist, I'm an optimist, and involved in the German junior mining sector. So please refer to our website for details of the cautionary language.
1:15 When we think about GFG, we set this company up 6 years ago and we're a team that's found mines, operated mines and had a strong success in the gold business. Our vision was really to advance district scale opportunities. We've put several of these together and today I'm going to talk to you about the Timmins portfolio. This is an extensive land position in excess of 800 square kilometers and really has been the focus of GSG over the last 3 to 4 years. Ultimately, we're looking to make world-class discoveries. Timmins is full of these and it's a tier 1 mining jurisdiction. And what you're gonna see today is how we approach our exploration, the results of the exploration, particularly at Gold Arm in Montclair, and really where we see the company and the project going forward. Before I go into the technical details, I'll talk to you a bit about share structure.
2:04 We're around 200 million shares outstanding, and that's implying about an 18 million market cap on today's pricing. Balance sheet's doing okay, we would have around a million and a half dollars in the bank as we spoke today. 2.8 at the end of the last quarter, we did just complete a drill program where we burned through some dollars in Q4 here. I think it's really important to think about who owns GFG. Us as insiders always participate in our financing and continue to own a good chunk of this company. Ultimately, they are most proud of the shareholder registry. Groups like Alamos Gold, good strong mid-tier gold producer, the Lundin family through their fund in 1875, and strong institutions like US Global and Pathfinder and Gold 2000. These are seasoned resource investing funds. When you think about our team, myself, Rick Johnson, Anders Carlson, and Mark Lepage, we were all part of Code Resources.
2:57 Part of the discovery at San Joaquin Gap that turned into a great mine and ultimately that's our team with GFG. At the board side, Patrick Downey, Arnold Klassen, Brian Booth, Lisa Riley, all very seasoned gold veterans of the space. When I think about why we invest in gold, and it's unique today in the sense that here we are at 2030 US. This is peak gold environment and so investors in the gold space for some reason here we see at peak gold. We're in the exploration business of the gold side so I think about trends and developments and where this portion of the sector is going. Discoveries are inherently very difficult to make these days. And it's a long-term trend. And you can see discoveries have been more and more difficult to make over the last 30 years. And anything that is found is extremely valuable.
3:45 You can look at the likes of Snowline or a Great Bear. These are true game-changing discoveries that were taken out for billions of dollars. We'll see where Snowline goes in due course. But the point of this is relevant discoveries are rare. There's characteristics of teams that make these and the philosophies that go about them. So here we sit at GFG, we've put large land positions together, we research the belts to say where we think we can find deposits under cover. We've got a technical team that's found deposits before. And I truly think that we're one of the groups that can make these few discoveries that are exceptionally valuable these days. So investing in the greenfield gold space, certainly you're at the higher risk of the risk spectrum. You really need to find teams that have track records and understand their philosophy and how they go about their exploration. I think GFG is one of the best teams out there.
4:37 So when we think about what we're doing in Timmins, here's our landscape. I call this our sandbox. It's about 200 kilometers across that map and a little sign at the top 150 million ounces if you put that in any place on earth it's about the most endowed piece of real estate there is. You can put it in Western Australia, you can put it in South Africa, you can put in Kirkland Lake. These are extremely well endowed belts and the reason GFG went to Timmins here, high endowment. There's lots of 2, 5, 10 million ounce deposits in this in this sandbox that we play in. GFG holds almost 800 square kilometers here. We're the second largest landholder only to Newmont in this belt. Infrastructure, if we look at the number of underutilized mills in this belt, it's 4 or 5 of them.
5:26 If we look at investment in new infrastructure, Cote, which borders our Doré property, 36,000 tons a day will become commercial in 2024. And continued investment presence here. Evolution is now present, proximal to our Dore property, Newmont and Alamos Gold. This is all relevant infrastructure And this is infrastructure that will need future war feed. And when we think about that and combine endowment exploration, prospectivity, and the infrastructure piece, this is ultimately why TFG has chosen to focus most of our dollars and our activity in the Timmins Belt. Great place to make a new discovery. So when we think about our land positions, we've got the Penn and Dore block out west of Timmins, and we've got the Gold Arm block out east of Timmins. We're about 20 kilometers east of Timmins.
6:19 Along the highway, we can see some geology here. The Pipestone deformation zone is this northerly of the 2 breaks, the Porcupine Dusters, the southerly of the 2 breaks. And in pink here is the area controlled by GFG. It's about 30 kilometers in strike extent. Very nice regional land position we've put together over the last couple of years. And Montclair sits in the west end of here, right in there. And I'm going to talk to you mostly about that deposit. Gold here is controlled along the 2 main breaks, the Porcupine Duster in the south, Pipestone in the north. Most relevant here as I mentioned in the last slide, infrastructure. If you're looking at Pan American or Newmont or McEwen, Agnico Eagle, those are all hosting mills that exist on this map and are within 25 kilometers of the GFG land position.
7:05 So great infrastructure, roads, highways, people and mills and great look in geology. This is ultimately why we choose to invest and explore at the Gold Arm property. When you think about our news flow, and this is truly critical for any junior company, we invest in this space and I as a shareholder because we want companies to be active. We want them to grow their discoveries, make, turn these into resources, and ultimately become a mind. GFD has been very active, and in red here are our press releases of the last 18 to 24 months. There are some great drill results in here. I think the sector is certainly under underwhelmed in terms of performance and I you know don't hide our share price performance here we sit at 8 09:10 cents like many other juniors near an all-time low we've been active we published great results we're demonstrating continuity And I think this all bodes very well for our approach and our philosophy going forward.
8:04 We've kept busy, we've got great strong factors and we're building value here. So stepping into the details of what we achieved at Montclair, this is a little more detailed map here, plan map of the Montclair system. And In yellow are the mineralized zones projected to surface. We've explored here for the last 3 years. We started with this Montclair central panel, which is the central part of that image. We had an inkling here that there was understanding there's 3 main zones, a lower and upper main zone and an upper footwall zone. Not a lot of drilling had been done in modern times. We saw this duality of bulk tonnage plus high grade. When you look at the intercepts on the left side, we've grouped those by zone. The main zone, which is this sheeted vein system, lots of 20, 30, 50, 80, and even up to 100 metre intercepts in the gram to gram and a half. That's all near surface.
8:55 That's that area in yellow, labelled here, main zone, upper and lower. That's the surface projection of the main zone. And we've drilled that, we've had great success at it and we're showing good continuity at it. The upper footwall zone down to further to the south, this sits in the footwall, that's why we call it the upper footwall zone. You can see a much higher grade. This is sort of 4 to 8, 10, 12g intervals. Good underground mining widths, 4, 8, 10, 12, even up to 20 plus meters in places. It's a very compelling target from either a surface open pittable target or even an underground environment. So that's the upper and the lower main zone. We can see the strike extension potential. We can see where we focused our drilling. And then there's this lower football zone. And I'm going to talk mostly about that today because it's the most recent press release we've put out. You can see some nice, good broad intervals. We see characteristics of grade and thickness similar to the upper football zone.
9:51 And we think that's a great area to continue to grow this system. So those are the 3 environments that we've continually drilled this GFG. We started off in a pretty shallow environment, upwards of about 200m depth, And we've continued successfully exploring down to sort of the 400 or 500 meter window. And we can see we've actually some pretty good strike length here. The system as I've outlined there, that's about 800 meters, 1.3 kilometers. It steps off further even off this map. I'm going to show you that in a subsequent slide. When we think about our methodology here, the bottom left image is the first cross-section GFT ever showed. Ultimately, we had a concept here. We had a concept that the historic old-time drillers and explorers drilled shallow holes. They only sampled the high-grade and they showed an interesting system over about a kilometer.
10:47 Vendors to us called IEP Exploration went back and completed some vertical holes. And to me, they outlined a bulk tonnage characteristic to the system that was quite intriguing. And that was the first thing that we queued in. And we also queued in, there's these foot wall zones that look kind of interesting to us in their higher grade. And really that's what we came in and acquired back 4 years ago was a concept that, you know what, there's a good Gold system here. It got good strike length. It's undercover. It's open yet. It hasn't been sampled properly. It hasn't been drilled to depth. So the first step we went about doing was, and I would probably put this back about 2 and a half years, these are the first holes GFG drilled. Some exceptionally good intercepts that we returned on the contact of these intercepts and both times ones through the main zone. So we were again, focused, as I said, on that upper 200 meters.
11:39 In feeling, growing and understanding the structural zones of the upper and lower main zone. We evolved that and really had good luck in growing this lower foot wall zone back in 2022. Intercepts like 25 grams over 25 meters at 5 grams and 16 meters at 10 grams. These were all very compelling hits in this upper foot wall zone, and they do sit very near surface. The main zone held together quite well and consists of a lower main zone and an upper main zone. So that's where we focused on, I would say, back in 2022. As we move into 2023, we've continued to grow this upper and main zone, but with more and more emphasis, we've looked deeper. And now we're down here at 250 and the deeper holes are down at 400 and 500 meters. So we're exploring and expanding the search space to depth, a revolution of the model is intriguing and growing, and you can see how the geology at depth changed from this slide to this slide. I'm gonna talk to you in a little more detail, but this reflects the succession of our exploration methodology over the last 2 years, expanding from bulk tonnage and high grade near surface into a growing the system along strike and growing the system at depth. You can see this is quite a robust system and I'm quite excited with these latest results we put out today. 5 grams over 13 meters is an exceptionally good hit. It's the deepest hole drilled on the property. It remains open. I'm going to talk to you about what we think that means.
13:08 Stepping back to this plan view again, and 5 grams over 13 meters is up in here. Now, I talked to you about the upper and lower main zone. I talked to you about the upper and lower main zone. I talked to you about the upper footwall zone. This is a long ways up to the north and ultimately it's best explained in cross section by looking at through that section and seeing where this system dips because in the end that intercept sits underneath all these upper zones and is really controlled by some of the same mineralization, the same structural controls. 5 grams over 13 meters, within that 10 grams over 4 meters. Very impressive hit and you can see where it sits in plan view. Other pending holes that we've drilled around it are currently at the lab. Quite interesting as well. We'll see where those come back with the next BASTO assay results. So I'm going to skip to section view and explain to you what we really think and why we're excited about this in particular.
14:06 So here's a cross section through hole 59. As I said, this is the deepest hole in terms of our testing of this system to date. And really we were focused on this lower footwall zone. Drawing the analogy between the upper footwall zone, the controls in the main zone, and saying, you know what, we think we can find more of this at depth. So let's continually explore this system coming down depth. We had some nice hits down here. This is a 40 gram meter product. This was about a 25 gram meter product. You can see in here some also good mineralization. So we're actually seeing some strong continuity. So we stepped out to depth and we were quite intrigued by what we've seen in this hole. First of all, we saw the Felsic Volcanics, which is this unit in yellow. It completely pinched off.
14:56 The deepest hole didn't host any. Quite intriguing step change in geology. Those are often really good things in the sense that you change in the chemistry, you change in the structure, but we did see the unit and the structural continuity of the lower footwall zone continue very well and we hit it right where we would have wanted to. It's quite an impressive zone. The overall envelope that we intercepted had about 30 meters of alteration and veining. That's not all high-grade, but when you're looking to me at the Gold system, that's what intrigued us. A much wider system of alteration and veining. Strong structural fault and hanging wall contact. We had a nice good thick vein at the top of this that was about 5 meters wide. It wasn't where the highest grade was. It created kind of about half a gram and that's these sections in the upper portion here.
15:46 That was a nice good thick quartz vein. Thickest vein we've drilled yet. Sort of 1.1 to .5 grams per ton. But as you come out the footwall of that, that's where we saw the best mineralization. So we're seeing this dilational hangwall vein system and we're seeing a replacement style mineralization of the footwall. So we see things like 5 grams, 10 grams, 20 grams, 12 grams, 6.6, and another 5 grams. So this is a very thoroughly mineralized system. 4.8 grams over 13 meters, very strong intercept. And within that, a quite compact 10 grams over 4 meters. That's what you wanna see when you're looking in an underground environment. You wanna see a mineralization that's compact, that has continuity, that has good structural controls, and that's what we're seeing in this style of intercept.
16:38 Looking in a little more detail, I show this picture here, and we kind of tweak the contrast and trying to get it to emphasize what's going on here. There's 3 or 4 different generations of mineralization and structure going on here. The host rock is an altered, highly altered, mafic volcanic rock gone to carbonate, largely which is the host rock. You see it overprinting with this sulfidation. You see these stringers coming through here. It's an extremely deformed rock. I think this was some of the 13-gram interval that was included in that. The takeaway that we've seen here is we drilled the deepest hole. It was about 150m step out on dip. If we just took that distance, that was 150 meters. This was quite a bold step out and returned the thickest zone of mineralization.
17:25 It was right on plane what we would have seen and we've seen some very positive structural changes in terms of how this system is changing, going to depth. And if we look at this, obviously we draw a dash line down here, system remains open. We're not actually that deep. It's like 430 meters deep. Many systems in this camp go down kilometers. So we can keep moving this and keep growing it to depth. This was a very encouraging intercept. Now I'm showing you ultimately this drill all back here in a cross section through this environment here. And ultimately the first map I've showed you is about a kilometer there. We're really encouraging that we can see mineralization in this environment. I'm showing you now a kilometer scale view of where we've done some drilling. We have drilled a few holes out here and these are holes about a kilometer to the east.
18:18 They showed the system continuing 2, 5, 8, 10 grams in first pass drilling, tied along the same geology going out there about a kilometer. Very interesting to see we can step out there. That's just first pass. The system continuing out there, we still have more drilling to do. We have this unit that we call the lower footwall zone. It's a high-iron basalt, also a very prospective unit. And if you think of our district targeting model and some of our neighbors, even like Onyx, who put a drill result out today that was very good. It's really about understanding the controlling geology of this unit. There's certain chemistry of these volcanic units that is very conducive to precipitating gold mineralization. These units have that right chemistry and we think we can chase them along strike moving further to the east. So we're open at depth and we're open off to the east along strike.
19:10 When we think of the big picture now, GFT put this land position together. It's 30 kilometers in strike length. I've talked to you about a kilometre right there. We have 30km here. We have another advanced target called Aljo. These are underground mine workings from the 30s. Ultimately, they're on Northeast-oriented main systems. This is a high-grade system, produced 10, 20, 30 ounces back in the wartime era. So we've done some first-pass drilling. We had some good intercepts here, and you can see stuff in the 30, 20, 30, 40-gram meter product, good open pit or underground grades that we've seen. We're going to come back here. We have another 6 or 8 holes pending on this target right now. Look forward to further more drill results from Monclera. But Also, Stepo drilling from Aljo is also at the lab. We drilled about 3,500 meters here in Q3 and into Q4, and we've only just released the first batch of those results.
20:11 Mind you, those are from Aljo. They are one of our regional targets that's also at a drill stage. So here, GFT sits, couple advanced targets from Gold Arm property, great results coming out of Gold Arm, pending results from Moncler and from the Aljo environment. Big picture, Now you kind of see where we sit. Aljo would sit in this environment. We're neighbors and I'll remind you, Black Fox mine, Holt Holloway mine. You can see Fenn Gibb here, which is Mayfair, just along strike from us to the east, the old Taylor mine, and even the McEwen stock and mill. This is about big picture. We think there's great discoveries to be made here in this environment, East of Timmins. We're just scratching the surface in things that we've done at Montclair and at Aljo, and I'm optimistic that there'll be more things to find along these structural corridors where we have extensive still cover and we know that continuity of these fertile structures are continuing off in this saline position.
21:15 That's the area east of Timmins and where we're putting in some dollars. Now GFG came to Timmins initially west of Timmins and we put together Penn and Dorian. We explored these for a number of years. We still host 100% of the ownership of these And I really like them. We added Goldarm into our property portfolio to bring a more advanced project in it. These are pretty early stage, but there's some exciting things going on in the Swayze. The Swayze is the greenstone belt just west of Timmins, right along the highway. GFG owns 2 large land positions here, Penn and Dore. Together, these are about 650 square kilometers. We've always been sandwiched between Cote, and for those of you that don't know, Cote is going to be commercial next early 2024, 36,000 tons a day.
22:03 And Borden, those are the 2 deposits that flank Dore. They sit a long strike from us. We'd be about 20 kilometers from each of those. We've always liked both these blocks and continue to see opportunity in them, building the target base. But while we put most of our drilling out at Montclair, if I just spoke towards Dore, it's an early stage property, just a couple of weeks back, we had a new neighbor come into the belt, Evolution Gold, mid-tier Australian Gold producer, optioned the property as directly adjacent to Dore. They optioned it from Northern Superior. To me, what does it tell us? It tells us that groups like IAMGOLD and Cote and groups like Newmont are on to something. This part of the belt is well endowed, it's under explored and evolution is only just the most recent mid tier or major to be present here.
22:56 So I think that map in the upper right is quite compelling when you can see the holdings of GFG, Penn and Dory, and you see the neighbors we have. There's lots of good work going on in this belt. There's lots of infrastructure being built here. We're directly proximal to infrastructure like Cautay and Borden and neighbors like Evolution as well. What are we doing on the properties? This is generative work. This is the building block that kind of bores the investor, but this is how we build new targets. Bottom right, 225 till samples collected across the property in Q3 of this year. Those are at the lab now, the bell building targets across the Dory block. We anticipate those results to generate targets for 2024 testing. So we are active on both of these properties as well and we very much believe in them going forward. We think of our overall strategy for Timmins and the budget.
23:47 We spent most of today talking about Goldarm and Montclair and the opportunity at depth and across the land position. We touched base at Penn and Doré. GFG will spend about $2.7 million this year and drill about 8,000 meters. It's a good aggressive program for a company like GFG. We're building the solid, so try to advance this to resource. We're looking at building the pipeline of targets across Gold Arm and continuing to refine it and build new targets at Penn and Dore. So I think this is an exceptionally compelling portfolio of Timmons land positions, and it's definitely puts GFG in the unique category of Timmons explorers. I'm not gonna spend too much time talking about Rattlesnake, but I wanna bring it up because this is inherent value in our portfolio. GFG started with just the Rattlesnake Hills project.
24:34 We, yes, pivoted back and have added a huge portfolio of Timmins exploration assets. Rattlesnake sits down in Wyoming. It's a great looking asset. There's about a hundred thousand meters of drilling here. We've optioned it to Newcrest. They drilled some deep porphyry holes. They didn't see what they liked in terms of the scale of system to drive a porphyry at depth. And they weren't interested in sort of the more modest heap leachable faucets. But there is 2 nice gold systems here and there's an entire gold district that we control. A hundred percent GFGs. I think there's great opportunity to find the right partner to take this project forward. It sits in our portfolio. We're a hundred percent exposed to it. There's very nice intercepts here And this is a really interesting system. On the upper left map, you see the regional land position. It's about 65 square kilometers.
25:25 You see a number of greenfield targets. In the center of that map, you see the North Stock deposit, Antelope basin deposit. Those are well-defined and expandable Gold systems in a shallow environment with reasonable lock size, lots of good drill hits on the side. I think this great opportunity to grow the system, I think there's great opportunity to make new discoveries. We're currently talking to a number of groups about finding the right home for this asset. We're going to stay focused in Timmins, but this is an area where I think there's under realized value in the GFT portfolio, and we're doing our best to unlock some of this value here. So when we think about GFT as a whole, here we sit. We're a district scale explorer. We've put these vast land positions together. We're a great team that's made discoveries before. I really think we're on to something in Panandori and Montclair.
26:13 These are exceptionally well located land positions that have good gold systems working on them. We've got good backers with the likes of groups like Alamos and the Lundin family and we really focus on putting our most efficient exploration dollars in the ground. If you ask us as shareholders we want to allocate 80% of our total corporate spend into the ground. And I really think we have a realistic chance of finding that next Timmins gold mine. So I thank you for your time today. And I'm opening up to any questions that you may have.
38:40 In the end, when a group like Alamos invest in us, They're investing in a team and they're investing in a concept in the fact that we own a bunch of land, we're doing good solid work, we're putting in great results and they're leveraged to that belt. So Allamos owns Young Davidson, they own the Island Mine, they believe in this segment, the Abitibi and they obviously believe in our team. So they're great shareholders. As a 9.9 shareholder, a company has shown a commitment to management. If somebody wants to come in and believe that Pan American has more ability and more value to be unlocked by owning GFT than Alamos, then they're going to come in and buy us. And at a 9.9 percentage holder, I don't think it discourages them. They're big boys. If the value, the transaction makes sense and it's at a price they like, a 9.9% holder is not going to scare off another company in terms of participating and being a shareholder or even going further along the share registry in time. I don't think having Alan Wilson as a 9.9% holder detracts from the ability to engage with other parties.
39:56 In terms of GFG strategy, acquisition is obviously a great outcome for an exploration company. They're just wondering at what stage would you build out resources, how many drill programs, like what would be the ideal time for an acquisition? Yeah in the end I do think you need to demonstrate size, scale and a complement to somebody's infrastructure before you're going to be acquired. And you'll have these two-hold positions which kind of allow a company to participate, have a lot more dialogue with management, to have a bit of an inside track. But if you look at those companies that are acquired, they generally go at 2 stages. Either they've shown something that can get very large and you have a great bear scenario where You might say this thing has 6 or 8 or 10 million ounce potential and that triggers an acquisition and there's no infrastructure built or it's not even resource published.
40:56 Or you can have things that move all the way through and you take them through and you've drilled them off and you said, you know what, there's 2 million ounces here, we put a PEA around it, now we've drilled it off, we take it through the pre-fees. And this thing has good, robust economics, you've de-risked it. You've materially de-risked the project. So there's generally 2 stages that an acquiring company typically would get acquired at. 1, you've shown scale that becomes very relevant and becomes world-class, or you de-risk it to the point where somebody can put a financial model around it with respect to their infrastructure. Typically, they have their own infrastructure and they want more another ore body and they can get confidence that there's a clear path to generating value and you've de-risked it. So that's the kind of stages that I think exist.
41:42 Look for GFG's perspective, We're happy to take a deposit through to drilling it off. We're happy to put it through economic studies. We've operated in built mines before. If we find something that's relevant and we find a value path to put into production and say we wanted to make a deal with Agnico Eagle and own a piece of infrastructure like Old Holloway and that that made the most sense, then we would do that. Or if we found there was a path to sell it, then we can do that as well too. Too early to say, I think for GFG stage, we got a lot more drilling to do. We would certainly want to take it through an initial resource and get our own comfort around a number of components like that before we were acquired. So lots of work to do on our front. Definitely. We have a couple of questions here as it is December and we're leading into a new year.
42:31 A couple of individuals are wondering, do you have a defined budget for next year's drill program and if so, do you have enough money for that budget? We have about a million and a half bucks in the bank right now. A good chunk of that is flow through, some of that is hard dollars. If we thought about what that could achieve, you know, it can probably get us drilling in Q1 again. And I don't have a final approved budget. If you look at what GFG has spent in Timmins over the last 4 years, we spent between 2 and a half and 3 and a half million per year in the ground. And I think that that's a reasonable budget to advance the project, show good progress, and continue to build on some momentum in terms of news flow. So that's kind of where I'd like to head. There's a couple other value levers that potentially could come to fruition for us and ultimately those would define our control when we finance next should we have to. One of those is looking at the strategic path for Rattlesnake and maybe we find the right home for that with a party and maybe that unlocks some of the cash.
43:32 There's a couple other levers we're working in the background, the strategic side that could also be quite interesting for us and bring some non-dilutive cash into the bank. So we're working on those and I'd really like to see some of those come to fruition before we thought about our next financing. Thank you. And then after the budgeting, they wanna know what's the plan with the drill program. What is your 2024 drill program strategy? You know, I'd love to look more in depth at Montclair. We put the best drill result we've had. We have a nice broad intercept. It's wide open. That's a really interesting area. I'd love to put some more meters out to the east where we have first pass drilling completed that showed encouraging results.
44:21 I'd love to see us step out and take a swing at a VMS target. This is world-class VMS territory and there's good numbers there and some historic drilling that haven't been looked at since the 70s. This is an opportunity where some of these base metals and compact, multi-commodity, BMS-style mineralization, copper, gold, zinc, can be quite valuable. You can look at a number of peers that have this duality of looking for gold and looking for BMS and I think it can be quite a successful combination. And so I'd love to see us take a swing at some of those targets next year. Also at Aljo, I'd love to get some clarity on Dory and Penn and who knows, maybe put some first pass drilling into Dory and or continue to work on Penn.
45:13 There's some excitement going on on the property boundary at Penn and you may see GFT allocate some more dollars to that in 2024 is there's certainly some opportunity there. So if you ask me, you know, 2 and a half to 3 and a half million dollars in the ground, That's what I'd like to see us spend. And generally that's allowed us to drill somewhere between 7 and 10,000 meters per year. Excellent, thank you, Rufimil. And it looks like we've addressed all the questions in the chat. We came in a little late, just a reminder this is being recorded and you can watch on YouTube probably within the day if not definitely tomorrow morning. But I'll leave it to you, Brian, for any last words. No, thanks, Kyle. Look, everybody, I really appreciate the questions today. The interest in GFG, You can always reach out to Mark LePage, who's our biz dev and IR manager, VP of the corporate office or myself as well. We're very approachable.
46:09 We're driven. We respect and want to hear from our shareholders. So please reach out, email or phone anytime. Website's got lots of good activities. And most of all, really excited for what's going on in our portfolio. Gold's at an all-time high and you really got to find groups like GFG that I think have a real chance of making discoveries these days. Thank you very much for your time. Thank you. Appreciate it. Take care. Thank you, Pierce. Appreciate it. Take care.
