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34:10 So yeah, these comparisons are real. And the unique thing about Newfoundland, it's geological history is allowing us to look for pretty well every type of gold deposit known to man because of our structural history and our rocks. I mean, the island itself is generally a younger suite of rocks than, say, the rest of Canada, especially the Archean in Ontario. But age is really secondary. Structure is key for me and we've got a number of structures. We're very blessed here to have all these structures. Very good. We have about 10 minutes left of this portion, so I want to make sure I get some of these other questions in here. I'm going to start with you, Robert. How is infrastructure and exploration work and the local workforce set up? Oh, I think we're frozen.
35:00 You know, by vehicle or ATV, government is very supportive. There's a very well-educated workforce that wants to work and the infrastructure is there, like the roads at Queensway project, Tim talked about the hydro and all. So it has to be one of the best jurisdictions in the world for infrastructure. The government is very supportive and it just allows for a lot of exploration to go on. And when we start building these projects on and building mines, which are there, it makes them very cost effective. And so it's a phenomenal jurisdiction. Tim, Do you have anything to add to this?
35:47 Yeah, well, again, you know, the road networks, we would, you know, the Trans-Canada Highway runs through many of our respective properties. We're very close. We've had a long history of pulp and paper production as well. So there's a vast network of logging roads. The government over the years has done a fantastic job on building a base geological sort of knowledge of geochemistry, geology, mineral occurrences, even drill core libraries that are great references and as well as sources of information and the local people. I mean, everybody knows somebody who's got an old gold mine waiting to be found up by the cabin, you know, sort of thing. And, you know, they'll show you their rocks and things. So we've got a very willing and capable and successful prospecting community.
36:40 And, you know, the assay lab and the drilling companies are an hour's drive west of us. We can explore 12 months a year here. We should point out that you're patching in from Newfoundland today and that's where your home base is as well. Joel, did you have anything to add to that? Infrastructure and... This has been pretty well covered, but I'll put in a plug for True here, which is I've been to both of our corporate assets by logging road, actually. So Twilight is like a 15-minute drive from Grand Falls, Windsor, where our VP lives, where I set foot on the property by waking up and driving to the property. Golden Rose, we went through a logging road that's actually about 2 hours, connects with a highway that runs through the middle of Golden Rose. So you just like, you don't have to go into jungles, you don't have to build infrastructure that wasn't there, you don't have to build all the hydro.
37:32 It makes the region that much more competitive. And I think an implication that's worth mentioning on this question is just the cost structure for a lot of the explorers and then the eventually development companies is lower than a lot of comparable regions where it's up to the companies to build the infrastructure. Very good. Well, Newfoundland is a fairly new jurisdiction. What are some of the milestones ahead? And how would you guide investors to look at the space when assessing as a possible investment? So Let's start with you, Tim, on this one. Well, location. For me, if you're not on a big structure or a major regional structure, and unfortunately there are several here that have gold on them, that would be the first thing I would look at if I were an investor, was like, where are their properties?
38:21 And what's the history of that property? Has it even been drilled? Well, prior to 1980, there were 35 known gold occurrences on the island of Newfoundland. And most of those were by-product of base metal mines. Now, I think the database is somewhere north of 5,600 gold occurrences. We've had 3 mines in production since then. And the government has gone on record as saying they want 5 new mines by 2030. So with all of that kind of rolled into one package, plus the infrastructure that's here, as Joel mentioned, the government, We're a poor province again now because of the collapse of the oil price there a little while ago, but they are still committed to funding, to the best that they can, exploration companies.
39:12 And the geological survey here is second to none, And the permitting process is fairly reasonable. You know, it's like everywhere, there's everybody has issues, but you know what, you know, we can get a permit turned around in generally a month or 2, which is, you know, probably miles ahead of other jurisdictions, even in this country. Thank you. Joel, what are some tips that you would have for investors when they're assessing the jurisdiction? I think in terms of the maturity of the gold belt, there are a number of companies, especially the companies that have been there for the longest time. So it would be like a Salkomen, Newfound, Labgold, certainly like a Marathon, Matador. There are companies rolling out massive scale drill programs that are well underway.
40:01 So that's kind of an ongoing source of news flow for investors from those specific companies, but it will also give you a sense of what the geological prospectivity is for Gold on any of the structures that are being drilled. I think another major catalyst would be eventually Marathon putting their Valentine Gold deposit, getting the mine operational, which I think is targeted for late 2022 or early 2023. That's still working its way along. Then there are also other kinds of mines in other regions in Newfoundland coming on stream as well, like I think Maritime Resources, there's a couple of them. So I think there's not going to be a shortage of drilling going on across the island. It's almost impossible to book drillers for that reason. So there's a constant stream of news flow out of all the companies in the region, let alone people exploring their properties through other methods. I think there's a lot of catalysts for everyone to watch. And if it proves out geologically like any of the comparables that have been referenced on this call, you're talking about a decades long runway, multiple years and decades, as opposed to what happens next quarter or next season.
41:08 Robert, what is your perspective on this? I would really emphasize what Joel said. There's so much drilling going on and the results that are going to be coming out in the next 3 to 6-months, there's going to be a lot of stuff. It's a huge area play And it seems to be that the gold is everywhere. So it's just a matter of finding the policies that are economic, and that takes a lot of drilling. So I think it's a pretty exciting place to be. The infrastructure is phenomenal, and good government behind it, as Tim eloquently stated.
41:54 And the Gold market, I think, has a huge upside over the next while, just based on US deficits and where the US dollar is going to go. So it's a bullish place. And the key is that a rising ship, a rising tide raises all ships. So I think that the Gold sector has a very prosperous future in it. And Newfoundland as an area is highly prolific. Yeah, that's a great perspective there. So I'm just one more question and then we're gonna go into the live question and answer. But you almost, I feel like you almost just answered this Robert, but I'm going to ask why Newfoundland and why now for investors out there? Well, I, you know, again, I mean, just, I'm just restating comments made by, by Joel and Tim, the infrastructure is, is incredible. And that's makes such a big difference, you know, as to how you can spend your dollars.
42:53 There have been some huge, huge finds. I mean, Newfoundland, where we're going to hear about later from Denny, a massive find. There are mines there right now going into production. So it's highly prolific. A lot of money has gone into it, a lot of drilling going on. So, if there's a place to be in the world, It's in Newfoundland. You don't have the political risk. You've got a strong government and you've got that infrastructure. So the dollars go a lot farther and we'll see what happens. But I mean, it looks pretty interesting. I mean, that's why I'm here. Simple as that. Well put. Joel, why Newfoundland? Why now? I don't know how much I can possibly add to, I guess, what we've covered. But I think it's still early enough days that there's probably a lot of runway. Exactly.
43:50 I guess maybe that's a summary. Very good, Tim. Well, clearly grade is king. Somebody mentioned that earlier and some of the best grades drilled on the planet have been drilled in this province in the past 12 to 18 months. And, you know, that goes a long way and attracts a lot of fish. So that combined with, and as Robert mentioned, you know, like your base costs here, I mean, I use as a budgetary sort of guide, all the costs, including asking of, well, COVID has added a little bit to it, but we're between 150 and $200 all in. Infrastructure, we don't need to build roads or all that stuff is critical to me.
44:41 And yeah, again, great. You can't argue with these greats. They're going to attract a lot of capital. I mean, Eric Sprott, Rob McEwen, 2 of the biggest Gold names in certainly Canada, North America, maybe the world are here and they're all in. Can I throw, can I lob in 1 extra comment? Yes. Given my transactional background, I think another interesting thing that it's still early enough days that people are busy exploring, but what investors in the market and the existing companies haven't seen is mergers and acquisitions, and particularly big companies like majors or mid-tiers moving into the province in any meaningful way. Marathon has some exposure to Franco, Nevada. There's a Royalty stream and investment.
45:29 But I think eventually you probably will start to see consolidation in this region because there are a lot of companies, including ourselves, that are smaller. So consolidation for scale, as well as the more advanced projects getting picked off by larger companies. So I think you haven't seen that yet. You haven't seen the major institutional equity flows into the province. And those are probably in Dishia that were earlier than later in this ballgame. Right, well good. Okay, so we're gonna be moving on to our question and answer period now. We have a ton of questions, which is awesome. If we don't get to your question, don't be alarmed. All the presenters today will be getting a recorded version of today's event, as well as a transcription of all the questions, so they can get back to you if we don't get to one of your questions.
46:17 So let's start with a question here that actually has been asked a few times. What's the longer term solution for the long assay time wait? It'll only get worse or will it be on course, Tim? Well, yeah, it is an issue. We are an island, so we're landlocked. I know, and maybe Denny can obviously correct me if I'm wrong, but they were shipping their samples via truck up to the mainland for testing. And yeah, the lab was clearly, even Du Boisie Bay, I mean, I've spoken to most of the principals over there and even Voices Bay pales in comparison to what's going on out there now.
47:07 Everybody's rushing samples, so there's no such thing as rush anymore. It's back to first come, first serve. Whoever gets their pickup truck parked to the back door first is first. It's, you know, it is an issue. And I mean, we're just gonna have to deal with it. I know they are expanding the lab in Springdale, Eastern, a great lab, great service, great people. You know, they go the extra mile for you, they're working overtime. So, you know, yeah, it is an issue moving forward, but you know, we're all in the same boat. Thank you, Tim. I see Danilo that has joined us and Joel's put on his branded cap as well. Did anybody else have any anything to add about the long-term solution for the long assay weights because I know it's been asked a couple times.
47:59 Well I think there's some cool technology that's coming into this space that I think we should all pay attention to. Sorry to chime in. There's a really cool tech and development in Australia that I think a lot of majors, and when I mean majors, I mean like the Rio Tintos and the Barracks and the BHPs and stuff have been, there's been some white papers generated around this and essentially it's a photon-based solution, it consumes no sample, it's a fraction of the cost, the turnaround is much quicker, and they've put an indication forward that they're going to be shifting into Canada and open up facilities. But with all of the capital driven into Newfoundland right now for exploration, which is really, you know, an over-representation of capital against every other province, I would argue, right now in terms of exploration dollars and exploration activity, I wouldn't be surprised to see other groups like them look to set up office in Newfoundland or at very least make it accessible for Newfoundland-based companies to get their material tested.
49:02 I can't speak with any degree of expertise on this. But I know that a lot of companies have have looked to expand their facilities, and and new companies that are offering unique solutions are looking to come into the market. Great, thank you so much. Joel, did you have something to add to that? Well given that they're running a 200,000 meter drill program and we've done 2,500 meters, I'll defer to Denise answer. Okay. This next question is from David Parks. He says, I'm counting 30 plus names in some state of operations, seeking claims, drilling, permitting, construction planning, or mining. My question is, what level of activity is the island infrastructure capable of supporting? So Robert, why don't you start?
49:51 Well, it's, you know, whatever it's, you know, who's got the money, who's got the connections, you get people on it at some point in time, it's your last in line. And so you can't get it done because it's a bottleneck. So, whereas that you're probably there right now, trying to get drilling rigs and obviously ask the results So you're there, but that's a really positive development that you've got that much interest and you're going to bring in a lot of resources. So that's a good thing. That's not a bad thing at all. Okay. Did anybody else have anything to add about the level of activity in the islands infrastructure capability? Okay. Well, be careful what you wish for, I guess, is the operative phrase here. I mean, we've been yelling and screaming, come down and explore Newfoundland.
50:46 There's lots of gold here, believe us. And I guess now we're getting it. But anyway, yeah, clearly there are a few bottleneck issues, but there's obviously, I think what I find interesting is that all the companies are getting funded. Normally, it's just a handful that get the lion's share of the money. But thanks to Mr. Sprott and others, you know, everyone's got it. Everyone's got a shot here. And that's great. You know, the drill, you know, the money will be spent eventually. And what it may do is prolong this area play. I mean, there's still ground locked up. The government has an issue with some of the land access in terms of ground—crown land that will eventually be coming open for staking. And I know there's a few choice pieces that Denny's gonna be eyeing pretty nervously and others hungrily.
51:44 And yeah, I see this going on for a couple of years. So, you know, let's not be, and as Joel correctly points out, it's still early here. So we could have a dozen more discoveries. It could get worse in terms of, you know, how things kind of getting bogged down. But again, I'd rather be work to death than starving to death. This next question is actually for you, Tim. When is Soka Man planning on drilling the Fleur de Lis? Well, it is an early stage project. We're at the GIEC-Chem level now. Till sampling works very well in this jurisdiction. We bank on it. If you get delicate gold grains in your samples, like Northern Ontario, I mean, you know your gold is probably not coming from Quebec, you know, it's local gold. So the till sampling works very well. So we're going to fully complete that program. There will be a phase 2. I know we haven't made any announcements yet, but the results are even slower for till samples, if you can imagine that, because of the processing that's involved. So I suspect we'll be drilling, or at least trenching targets, you know, probably in Q2 of 22.
52:57 Okay. This Next question is from Steven Carlton. Are Newfoundland's exploration costs, sampling, assay, et cetera, stable or rising? So do you want to take that one, Joel? Sure, we've seen even in terms of the drilling contract between our Twilight project that is completed and the drilling contract we've just signed for Golden Rose, our flagship asset, merely 2-months later with the same drilling contractor we have a very good relationship with, is already an increase, I don't know what it is, maybe 10% or so. And we still think we're getting below market rates because they told us they're charging other people, given our relationship and past work. So there's certainly cost inflation, cost pressures. We're paying for prospectors sometimes if they're outsourced, you know, $550 a day or something like that, because the outsourcing company will charge a markup on top of the prospector fees. If you try and hire kids out of the schools there, they're charging rates that previously more senior geologists would be looking for.
54:00 The cost structure is still below many jurisdictions, but is rising within Newfoundland without a doubt. And then also, as was pointed out by Tim and Denis about the rush samples, everyone's trying to pay for rush samples. You don't actually get rushes, but that's still sometimes deeming for the rush charges and you're getting normal turnaround. So like the lab costs are going up. So there is a ripple impact. But luckily, many of the companies are funded. And that's just that's just part of the game. You're still benefiting relative to other jurisdictions where you'd be incurring those kind of exploration costs. Great. Did anybody else have anything to add? No, I think you all captured it well. I mean, it's driven really by, I think when you look at drill rates, it's driven by the competition. I mean, it's all supply demand and, and essentially, you know, drillers are having to compete to hang on to their drillers and they're talented people.
54:52 And in order to stay competitive, they need to pay them more money to stay. And so that ends up, the companies end up bearing the brunt of that cost. And then as for the lab ghost, I mean, yes, you all nailed it with the rush. But the reality is that there's no super rush. There's no ability to pay more. This is a non-negotiable situation. It's just a get-in-line situation, which I think really, really fair, actually. So I'm happy it's like that for the benefit of everyone. Otherwise, I think Newfound would be getting their samples back first, but no, it's really very much a get in line. Yeah. Great, Thank you so much. This next question is for King Global from Allison. How close are the GINA samples from the ETHOS recent August 9th samples?
55:45 Yeah, so they're probably a kilometer away, less than that. So they're right on trend. So our trend is like 10 kilometers and there's 5 kilometers of that of the New World trend goes into Ethos. Their results are absolutely spectacular. So we're pretty excited about that. Obviously, you know, as everywhere in Newfoundland, when people get good results and you're their neighbor, you benefit from it. So we're very excited and look forward to getting better results from them. That's great. Okay, we have time for one more question. So this is from Christopher. With several small discovery companies in the same general area, is there any thought to consolidating resources with respect to eventually getting a mine built.
56:34 Anyone have a perspective to share on that? I've been getting calls. Okay. There are interested parties. Even small, modest gold, gold deposits are of interest to someone, especially if you're a niche miner, and especially high grade near surface, basically you've paid it out. And yeah, things as these projects get more mature, like I think Denny has a small resource on 1 part or 1 showing on Queensway. And we as yet don't have a resource at Moosehead. We have 5 zones, which one do you pick on to put your resource on? We're trying to make them all one big zone, which is basically what our focus has been.
57:20 I'm not right at this minute too interested in focusing on a resource, but you put out maps and you put out assays and lengths and grades and people can kind of do the math themselves. So, but could there be some consolidation? I expect so. I'm surprised a couple haven't really been picked off yet. And I'm talking about Marathon in particular. I think they're waiting for the first sod to be turned. But yeah. Tim, any thoughts you want to leave investors with? Well, we're going to be a newsmaker on multiple fronts, all very, very attractive targets. Obviously Moosehead is what most people have associated us with in the past. It's only in the past 4 or 5 months that we've really expanded our property portfolio to become one of the larger landholders.
58:12 I think people were a little nervous or worried that we were just sort of the one shot play. Well, we fixed that in a hurry. And yeah, we're going to be making a lot of news and a lot of exciting news. We still have half of our 50,000 metre drill program to report on, a lot of low-hanging fruit waiting to be tested at Moosehead and you know the sky's the limit for for Fleur de Lis and our other 3 projects and yeah and this new wrinkle I guess in our in our portfolio as a lithium seems to have you know lit a few fires for us as well. So again, I think it's a great time to be a shareholder in multiple companies in Newfoundland, not just my own.
58:58 Great. Robert, any final thoughts that you want to leave investors with? You know, it's a massive area play. And, you know, as Tim stated, there's a lot of drilling going on. We all know about, you know, the success that Denny has had in their jewel box. And, you know, Joel, so, you know, Lots of drilling, highly perspective, and I think we're all going to benefit from what's going on. I think that's an exciting future and a stripe on a seatbelt. Joel, any final thoughts for investors here? For all the reasons that have been outlined, if you're interested in investing in precious metals or commodities generally, Nathanland has a lot to offer. And then as the plug for our company is, sure, we're going to be drilling as well. We try and execute on the guidance we put out to market.
59:49 We do have 2 properties, including 2 key properties with drill results to come, including the one between Marathon and Matador. That's what's probably the most exciting for us, is we're sandwiched between 2 Gold deposits. I'm curious to find out what's under the ground there. So that's what we're going to be working towards the rest of this year and in the next year. Thank you so much. That was great. I've learned a lot so far. And it's been an honour to moderate this event for you guys, as well as thanks to 6 and Newfoundland.gold. So now we are going to move on to our closing comments with our keynote speaker credited with putting Newfoundland in the spotlight recently, Denis Lavalette, founder and president of Newfoundgold. Thank you very much. And I just unmuted myself and I should pay credit to Tim for putting Newfoundland in the spotlight, because in many ways it helped us.
1:00:50 So with Tim's discovery, it really catalyzed our ability, even as a private company, to garner interest in what we were doing. And So everyone on the line today is playing a role or has played a role in the past of Newfoundland and most definitely will play a role in the future of this wonderful jurisdiction unfolding before us. So I'll kick start the presentation with a forward looking statement here. Bear with me as I drive this presentation. So please take the time to read through that, as forward-looking statements will undoubtedly be made. Okay, So just to jump through a couple of quick things, this is a quick picture of the overall island of Newfoundland and our very compelling and large land position on that island.
1:01:43 What brought us here was macrogeology, as well as some incredible specimens of visible gold and some very high grade. And undoubtedly, that's what brought a lot of the other participants in today's presentation and conference into this jurisdiction. And surely, there's going to be many, many discoveries made throughout the island as we're finally hitting an inflection point where investment money for modern exploration is at long last entering into this landscape. So I'll just fast forward through some of this stuff here and our team, I think, and just dive right into the project itself. So again, zooming into our overall project here, there's 2 key faults that we're interested in.
1:02:29 One is the Appleton Fault and the JBP Fault, and these lie adjacent to the Dog Bay Line. Our land is confined to what we call the Davidsville Land Package, or the Davidsville Sedimentary Suite. It's a turbidite, sandstone, silts, and shales of Devonian age, essentially. And yeah, we're basically exploring both of these faults to find what appears to be, at very least, at the north so far, something world class. We had a lot of great work done before we ever got here. So that was one of the great pleasures that we had, we got to come in and eat the lunch of some of Rubicon's work, some of Niranda's work in the early years, but I think this is because these groups took to this problem in a very unique way.
1:03:30 You know, at the time, Newfoundland and still, Newfoundland is covered, unlike many other jurisdictions around the world, another orogenic place, by gravel, glacial till, and this hides everything. This is what makes this very challenging. We've heard a lot about the rationale as to why everything is still here and why hasn't anything been found so far if this is such a great place to look. And the reality is, is because it's hard. Everything's covered. There's very little outcrop. And so finally we have the technology and we have the capabilities to look a little bit deeper. Some of the work that Godkick started in the 1990s was large till sampling programs. And these were done in pursuit of base metal deposits like Duck Pond and things like that. So what was being looked for was really VMS style deposits, base metal deposits, and the area was being scoured, The till was being scoured for that purpose.
1:04:25 The result, of course, in this area was Gold. There was a pretty pronounced set of Gold anomalies that Naranda ended up following on, but with very little capital. When we look at what some of that work led to, it led to the discovery of some veins, some trenching work where a Soil anomaly was ultimately then trenched with an excavator and some veins were exposed and drilled, maybe with 1 short drill, maybe 2. And that was about it. Exploration budgets then weren't really what they were today. And ultimately, the market environment, the commodity price, the gold price at that time, $250 an ounce, give or take. Not exactly a great place to or a great sphere to be in the gold space.
1:05:11 Base metals were the talk of the time. And so this thing didn't really get a whole lot of attention. Moving on to some of Rubicon's work, they did quite a bit of drilling on the H-Pond and Pocket Pond trend on this JVP fault just in here. Again, very shallow work. It's when we look at this a decade later, So Colin and I came in 2015, and we started looking at what some of these historic numbers were like, and really they were jaw dropping. And so it was about recognizing that this was not only an area with tremendous grade potential, but one that was underexplored. There was a tremendous amount of empty space between showings in and around showings. There was 1 off or 2 off drill holes into veins that were exposed at surface, very short things. And then, you know, those companies ultimately walked.
1:05:59 So We could really look at this under a different lens. It was a district-scale play, but more importantly, an orogenic play. I think that was one of the bits that many missed. We talk about orogenic gold. Dr. Richard Goldfarb, who is an advisor to C2C, is a tremendous thinker in the sphere of orogenic gold. He's very well published. This is basically the god of orogenic gold belts around the world understanding these systems better than likely anyone. If you have the pleasure to listen to what Dr. Richard Goldfarb has to say, you'll learn very quickly that this is a world-class orogenic belt. But even in 2015, when we came in, there was debates. There was thoughts when this vintage of exploration was occurring very early days in Queensway North. There was discussions that it was epithermal, or maybe even carlin-type deposits and stuff were a potential.
1:07:04 The geological model, everything that we're looking for, was really we're looking for the wrong things. VMS was again the primary goal or base metal type deposits. These orogenic Gold things, not only did they not name a lot of the features and faults and things appropriately, the recognition wasn't made really that this is the type of system that we have here. And now when we look at it in 2021, thanks to Dr. Rufer Goldfarb, ourselves and many other people that have came from different parts of this gold environment, whether it be the Abitibi or in West Africa or other places, where we know and smell what an orogenic system looks like. And we look at this and it's irrefutable, that's really allowed for us to pursue the right breadcrumb trails, if you will, to make tremendous discoveries. And so that's really what's enabled Newfoundland to be a jurisdiction worth exploring, worth investing in today, because really the formula wasn't there before and it was mislabeled in many ways.
1:08:09 So just zooming in here, we're looking at the northern portion of our land package, the Queensway North. We have the Appleton fault here and the JBP fault. And a tremendous number of showings, as I've mentioned before, some of these are historic in nature and some of these are thanks to us. Our maiden discovery was made here at Keats and it is a bonafide discovery because What was found at Keats was largely the footwall mineralization, the low-grade smoke stuff. And they were very close to the good stuff. Had they stepped back 10 or 15 meters, maybe we wouldn't be here today having this opportunity. But undoubtedly, Keats was a very, very tremendous discovery. We drilled behind and underneath all of that stuff and came up with a pretty miraculous intercept that's now matured into a multitude of intercepts that would follow that up and some new discoveries further along the Appleton fault zone.
1:09:03 The major driving force here, so we've heard some discussion about this by past talkers here today, is the iapetus suture zone. So this is really what underpins this orogenic story and what really needs to be keyed in on. And we'll look at this, even if you look here, Pollock et al, 2007, this image comes from. There was publications in 2013, specifically relating to the Dog Bay Line. We had Hansberger 2018, 2017, comparing this jurisdiction to the Abitibi. So this is really modern. This is new stuff. And if you look at the money flows in the space and some of the discoveries that have been made along this feature in the UK, specifically Dalaradian, through newfoundland with marathon atlantic gold being another major major deposit here that was was sold and is currently producing we have also If you go down through the United States, this entire this entire trend extends down there. And you have the Hale deposit, which was which was purchased by Oceana Gold from Remarco. All of these happened in sort of the last cycle, which is pretty remarkable.
1:10:17 And so you have a tremendous amount of thought leadership paying very close attention. And the market was really well rewarded for gambling on this particular feature as it extends from the UK all the way down to Alabama. And So this is really the manifestation of 2 continents colliding. We have the African plate crashing with the North American plate. And particularly here in Newfoundland, we have a tremendous amount of structural complexity. This crash front is a really thick, juicy package of faults and fractures, and many of them are gold bearing. This is the piping system that really formulated a lot of the organic gold systems that we're talking about. And the sheer presence of such distinct and tangible macro scale structures, deep seated faults and fractures, crustal scale breaks.
1:11:10 These things allow for world class deposit potential to occur on this island. It was maxed by the gravel, as I mentioned before. And so we've taken to charge to basically unearth a portion of it. Our focus is the Dog Bay Line, so in this zone, essentially the easternmost feature. This is what it would look like, hypothetical cross-section through such a thing. So when you have 2 continents colliding, if you can imagine, it's not this simple, but I'll make it simple. 2 cars crashing together in the hood of the cars, crinkling up like accordions. And eventually, these we're talking about rocks here, and they they will break. So you'll get these big accommodation faults, these big low displacement faults that occur, and they propagate very deeply. These deep structures basically provide the conduits to allow gold-bearing fluids to migrate through all of that material. And guess what? They do pick up gold from other features. So some of that VMS stuff that we're talking about, the sheer presence of that, This can further feed into the system and allow more metal content to be injected into these fault systems.
1:12:21 And so here we have 2 that we care most about, the Appleton and the JBP, as a hypothetical cross-section through either of those. So again here, this is a zoomed out view back to that of the entire property package in the Stavidsville group. And this is really the sedimentary group that we're key, where the JBP and the Appleton Fault sit within. We have this Mount Payton bath lift. This is older than the gold event or the orogenic event here. Not sure exactly how much. I mean, that question is being answered as we speak. There's quite a bit of academia surrounding the age dating and the relationships between all of this stuff. But essentially, we believe that it would play some role, in a very least, rheologically, in allowing for fluid pathways in these structures to occur where they do.
1:13:18 Some parts are going to be a bit tighter, and some parts are going to be open and dilated and allow for more fluid flow. We took to this with a very systematic approach, as Tim was mentioning on one of his other projects that he's developing. The first step was to use till sampling, geochemically sample the entire belt. So we did that. We came back and we've employed many modern geophysical tools. Notwithstanding this airborne EM survey that was conducted, we followed up and achieved tighter line spacing on follow-up surveys. We've also done airborne gradient gravity and many other things to really try to take the lid off of this. Again, the big problem here is till, you can't map the rocks, and so remote sensing plays a really big role in finding gold in this jurisdiction.
1:14:11 We compare this jurisdiction to other orogenic belts around the world, and one that we like to compare to, and it's not even us, the academic bodies in Newfoundland have compared it to this for quite some time, is the Bendigo Gold Belt in Australia. This is the Victoria Goldfields. It's been exploited since about the 1850s and has produced over 22 million ounces of Gold. This is a very prolific Gold belt in Australia. It's exactly the same age. It's exactly the same rocks. We have Cambro division to Devonian, Turbidite, Sanson, Silsils and Shales. The metamorphic grade is sub-green schist to green schist in both jurisdictions. The structural conditions are almost exactly the same. We have a lot of the same accessory minerals. Not only are we in the similar system, we're also in, in many cases, at least in the case of Fosterville, in the same part of the system.
1:15:01 When we look at an orogenic system, you can be very high up, where these faults came through the crust, and gold was carried all the way through the crust and brought very close to surface and precipitating in the form of veins and visible gold. Or you can be very deep down in more ductile rocks. This would be more mesozonal. We're in the epizonal part, the upper part of that. And there's some really characteristic things that we look for to fingerprint the fact that we're there, antimony being one of them with our Belangerite and Stibnite. We have also a lot of textures, brittle structures, things like that that suggest that we are in this epizonal horizon. And surely one of the shining stars of the Bendigo Gold Belt in Australia is, of course, the Fosterville Mine, and the Swan Zone exhibits all the same aforementioned characteristics.
1:15:54 I'll just dive in strictly into the Appleton Fault and the stretch of it we're exploring today. So our journey began with Keats, and we got extraordinarily lucky. We knew that the structure was right. We had a bit of low grade to work with on surface, some good smoke. There was some high grade flares for sure. Some of the other showings historically on the project were far better in terms of numbers that were yielded from that historic work. We'd even found some of our own. But nonetheless, Keats was the first place we decided to stick a hole. And sure enough, Eureka, we hit 19 meters of 93 grams. And that today has evolved. We've been continuously exploring this zone. We found mineralization in the footwall towards the Appleton fault itself. And when I talk about the Appleton fault, I like to depict it as this nice black line on a map. But in reality, it's like it looks here. It's this braided network, complex network of deformation zone, really. It's not a discrete fault or a crack. It's just a braided, diffuse deformation zone that extends basically for many, many kilometers, at least on our land package almost 100 kilometers.
1:17:05 And then our neighbors to the north also have exposure to this basically all the way to the coast. We started as I mentioned with the Keats zone and that's been developing. We've been continuously following that up and chasing it to greater depths. We've been trying to fill in the gaps because basically what's manifesting here at Keats is that we have this beautiful second order structure that comes out of the Appleton fault zone. We've been systematically exploring that second-order structure and it balloons out into this big dilation zone that formulates the highest, thickest grade portion. You'll see a lot of our drilling focused along that trend because it gives us the largest widths and the best grades, quite simply put.
1:17:54 But above and below that are also of material interest. The structure is still there, but the widths taper up to a smaller width, but in some cases we still get incredible grades. So if you have a look at the table here, you can see some examples of both. Some really nice big wide intervals with great grade, and you can also see some pretty small intervals with high grade as well. The overarching message here is that we're going to intersect these great high-grade chutes within a larger prolific mineralized system and That system is really, really big. We stepped out 2km to the north to a zone called Lotto. Lotto was again, some trenching, etc. That gave us good indices that there was Gold there.
1:18:46 We followed up on Lotto and sure enough, our very first hole came back with 2 tremendous intervals, 4.8m of 41g and 5.2m of 25g in the same hole. Since then, we followed up and we found quite a bit more mineralization at Lotto. And that story is really coming together for us. We followed up on the dome. The dome was, you know, this is actually quite a famous showing for the project because it's one of the only places where you see outcrop. And it's this massive outcropping vein. It looks like a big knob of quartz sticking out of the ground and over the years people have picked off Really tremendous specimen type samples off of the dome. And so we've been following up on that and then we went we sort of split the difference if you will between the dome and and Keats and Started working working our way back towards Keats And we drilled into the golden joint. And so we've been having a lot of fun pursuing that. And that's delivering some really good numbers.
1:19:47 The key here is that there's a lot of white space on this image above, this long section. You can see tons of areas between all of these zones that need to be explored. And these white boxes represent 50 meters. And so if we're looking down at depth here, on average, we're well within the top 200 meters and that's gonna continue to grow. These systems do not stop at 200 meters deep. If we look at orogenic systems around the world, they're kilometer steep in many cases. And so we could be experiencing and finding new high-grade chutes and new additional zones at any given depth. And this is just a 2-kilometer stretch of what we already know is basically a 7.8 kilometer manifestation of high graded surface.
1:20:38 So this is the zoom in of Keats. And as I mentioned before, just to show you, we've been following down this trend, this plunge of high grade, and there's mineralization above and below that. Below, we haven't had as much joy, but again, things can sort of pinch out and then bang, you get another balloon. So there could be repetition as we go deeper along this plane. But right now, we're just continuously chasing this down and we're having good success above. So we're continuously filling in this above wedge, we call it, and we're getting back some pretty nice numbers from that. So that's the story of Keats. The gold circles represent drill holes that we've drilled and we have assays back for and like everybody else, assay labs have been slow and the turnaround has been slow. So the gray circles represent holes that we've drilled, we just don't have assays back for so pay attention to those and hopefully in the future we'll be pressure leasing some of those as they come in.
1:21:37 One of the key things with Keats and I think is going to hold true for many places along this feature, both on our property, off our property, other places, is that there's a couple of things happening. We have this tremendous zone along a second order structure, the Keats main zone. This is a plan view looking in. We're grading towards the Appleton map here. We're drilling essentially west. And as we're doing that, we're intersecting a tremendous amount of footwall mineralization. So there's other veins back here, there's other potential zones. And at some depth, they could blow up and become, you know, more important than even the Keats. We don't know yet, but ultimately, there's a ton of mineralization back here. And we're really, right now, mission number 1 was to understand what's happening with the main zone and we're discreetly modeling out the foot wall zones as we speak to get a better understanding of their architecture. And this is just all illuminating what really there is to pay attention to as we move our exploration forward, above, below.
1:22:38 If we look over here on the West side of the fault, I got the question the other day about how come we're always drilling on the east side of the fault, does that mean the west side's no good? And the west side's really good. We've got some really good examples of that. And some of our neighbors to the north have been exclusively finding things on the west side of the fault. And so the west side, by all means, has just as much potential. It's just that we've had greater success on the East side and we started there. So eventually we are going to move over. And if you look at some of the sparse drilling at Coke Zone, even drilling the other way, not only are we hitting some high-grade close to surface, but we're hitting some pretty good low-grade intercepts. This is a very, very big envelope and this entire thing spans almost 500m end-to-end. It's a very, very compelling thing.
1:23:28 It's not to rule out the fact that this could maybe even 1 day materialize into a bulk tonnage situation, even though we have a very key focus on developing high-grade tons as we speak. Jumping up to Lotto in the same fashion, We're looking down on these zones, Lotto Dome, Golden Joint. As you can see, we call it the Golden Joint. We've got the Lotto baseline fault somewhat intersecting in theory with the Appleton fault zone. We've been drilling that intersection, hence the term Golden Joint, and we're finding mineralization sitting inside of the Appleton Fault. It's not the first time we found it. As we went up to Lotto, we drilled through Lotto and we kept the drill hole running and we found the Sunday Zone sitting inside the fault.
1:24:15 The fault is open for business and it's actually a target in and of itself. And so we're trying to make heads or tails of that too. So there's tons of expiration potential, not only in these second order systems and all of the space in between them, connecting them, but moreover in the Appleton fault itself. And some of these numbers are just absolutely incredible. As you can see from some of our most recent results from Golden Joint, and I'll point out the 5.3 meters of 430 grams. And if you go further to the east, you have this little zone over here, road. We haven't ignored it, we haven't forgotten it. It's not any less important, but road has some pretty cool numbers. I mean, we've just released as a batch of other holes, a couple of intercepts here, 2.9 meters of diagrams and 35 grams over 2.7 meters. So these are great intercepts anywhere else in the world. These would be headlines.
1:25:14 And for us, somehow we got, they got lost in the couch cushions to some degree but road is is is is a very important zone for us and if you look again the width of this section so forget about the strike the strike extent is huge it's beyond this map but the width is really big too The amount of prospective ground just along the 7.8 kilometer stretch in strike, both on the hanging wall side of the Appleton fault zone or to the east of it and the foot wall side to the west of it, there's a tremendous amount of exploration potential, the possibility for new economic zones to be folded into this thing. This is just some zoom ins here of a couple of the other zones we've talked about in the cross section of Lotto. I'll skip through some of that and get into some of what the gold looks like. So one of the cool characteristics, we talk about epizonal. We mentioned that earlier in the presentation. And the comparison to Vostrovil.
1:26:11 And one of the cool things you see about this thing is that when you look at some of these veins, they're somewhat unremarkable, I'll say, being a geologist that's worked in orogenic camps around the world, mostly in mesozonal systems or mesothermal systems, in the Archean greenstone belts that we're very familiar with in Canada, like in the Abitibi, or even in West Africa in the Ashanti Belt. And you don't really see these milky white veins being all that attractive. And here what's very unique about this is not only are these veins gold bearing, but if you look closely, you can see all of this fine-grained disseminated gold, it seems, inside of the matrix of this quartz. And that's a telltale sign that this happened very explosively.
1:26:58 This is an epizonal deposit. We have buggy texture in our veins. There's also this strange kind of almost crustiform coliform banding that we get. That's almost an epithermal flavor and maybe why this was mischaracterized as an epithermal deposit once upon a time. You know, There's a lot of really cool things that we have, not just in terms of grades in common with Fosterville, but also all of these textures and the way that this gold occurs is very, very unique. So again, just some more images of what this looks like when you drill it. And I'm just going to jump over briefly 5km east. So this is the parallel trend to Pocket Pond, H pond. So this is the JVP system.
1:27:47 It's very big, it's very impressive. And, and we're really excited to be drilling this. So it's 1 that, that for us, we're drilling actually, as we speak, and we're going to continue to do that. But we just have very little drilling anywhere outside of Pocket Pond or H Pond, but we have this system with surface mineralization for 12.4 kilometers. This is the map that I like probably best, which shows both of those things I just talked about. You've got the 7.8 kilometers on the Appleton. All of these samples are greater than 5 grams that are red and you can see that both on JVP and on Appleton and we've really just tested a few little spots and as we're adding rigs we're getting a chance to revisit and fill in gaps and find new things. So if you can imagine this system extending down hundreds and hundreds of meters in 3D, the number of new zones that we could find, how many Keats's might be here, how many lottos and roads and golden joints might exist along the Appleton Fault itself or some of these second order features.
1:28:50 It's just really a bottomless pit of potential on the Northern side of our project. And I'll make this last comment as I guess we're wrapping up on time, but both of these structures extend for 70 kilometers to the south and we've got great soil targets plotting along those structures and so we're working this up as we speak. We've got a team of about 15 people in a little camp down here and we've been working up scouring this ground, opening it up. A couple of excavators are in there now, trenching on things. And so we're really excited to find new things down here and try to unlock some potential on the Southern extension of both the Appleton and the JBP on the southern portion of the project. So that's basically it. I think we can probably put it in park there.
1:29:39 Some things to look out for with Newfound Gold in the future. We're really key on being a data-driven company and trying to employ the most modern mining, you know, Exploration 2.0 techniques. We've got a close relationship with my other company Gold Spot Discoveries, and we're currently looking into new tools that we think will give us an edge. And one of them is, we haven't made a decision on it yet but we've certainly put in many hours of research and it's about possibly being using seismic in this land package to help sharpen our exploration efforts. And so with that I'll hand it off and really exciting times for Newfoundland, exciting for all the other companies. There's a tremendous amount of potential here and wish everybody the best.
1:30:25 Hello again, everyone. Janet Leigh Sheriff. On behalf of everybody with Newfoundland.gold, I want to thank you for your time today. I also want to thank CSR Management and their fabulous team for helping to pull this together, along with 6 and Dasha, a big thank you. Our panelists, 3 fabulous companies, Thank you so much for your time and Jessica and Denny Lavallee, thank you again. I want to welcome everybody to follow Newfoundland.gold, our website is that. You can also watch the conference again on that website, as well as six.com. Thank you on behalf of all the member companies of Newfoundland.gold.
1:31:12 We have a fabulous, very busy exploration season underway and there's a lot of results that we're expecting for this fall. It's been an exciting season in Newfoundland Labrador and I also look forward to seeing everybody at the Precious Metals Summit. Newfoundland Gold will be there and will be representing the jurisdiction along with all of our member companies. Please look us up. And we're proud to announce that we'll be having a great presence at the Vancouver Resource Investment Conference and look forward to seeing everybody there again, follow us on Newfoundland. Gold and follow us on social media. Thank you again for your time and your interest and have a wonderful day.
