Five juniors study sharing Kitsault polymetallic mill

Goliath Resources (TSXV: GOT; OTC: GOTRF) and Coast Copper (TSXV: COCO) are among the five junior companies that have signed a memorandum […]
This sample from the Real Deal zone at the Golddigger project assayed 5.43 g/t gold and 18.22 g/t gold-equivalent. Goliath Resources photo

Goliath Resources (TSXV: GOT; OTC: GOTRF) and Coast Copper (TSXV: COCO) are among the five junior companies that have signed a memorandum of understanding to share use of permitted mill at Kitsault, B.C., to treat ores from their individual projects. The other participants are Blackwolf Copper and Gold (BWCG Holding) (TSXV: BWCG; OTC: BWCGF), Dolly Varden Silver (TSXV: DV; OTC: DOLLF), and New Moly LLC.

The mill, owned by New Moly, is located near tidewater on the border of British Columbia and Alaska. The Kitsault open pit molybdenum mine operated from 1968 to 1972 and again in 1981 and  1982. Avanti Mining acquired the property in 2008 and completed a feasibility study (including a new mill) in 2010. The project is fully permitted.

New Moly was created in 2021 to combine the assets of the Kitsault project in B.C. and the Mt. Hope molybdenum project in Nevada. The company plans to begin mining at Kitsault by the end of 2027.

The other companies hold a variety of projects near Kitsault. Goliath has an option to acquire 100% of the Golddigger gold-silver property near Stewart, B.C. Coast Copper has several precious metals properties in B.C., notably the historic Empire copper-gold-silver mine and its Merry Widow property where Coast is earning a 100% interest. Blackwolf holds the Hyder base and precious metals properties (Cantoo, Casey, Texas Creek, Mineral Hill, and Rooster) on both sides of the B.C.-Alaska border. The company’s Niblack copper-gold-zinc project is located on Prince of Wales Island, also in Alaska. Dolly Varden’s 100%-owned Kitsault Valley silver-gold project, where resources have been estimated at the Homestake Ridge and Dolly Varden properties.

The five companies have engaged Fuse Advisors to complete an initial assessment of the technical viability of making the Kitsault mill a hub-and-spoke operation. The potential for blending or batching ore, process flowsheets, throughputs from the various deposits, and associated mill sizing and timelines will all be assessed.

For more information about the projects owned by the partners, visit their individual websites: www.GoliathResourcesLtd.com, www.CoastCopperCorp.com, www.BlackwolfCopperAndGold.com, www.DollyVardenSilver.com, and www.NewMoly.com.

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