The Yukon has produced more than 20 million ounces of placer gold.
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Discovery of the yellow metal in Canada’s Far North in the late 19th century spawned one of history’s biggest gold rushes, as armies of prospectors converged on the territory to try their luck.
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And yet, the hard rock source of all that panned-for gold remains a Holy Grail pursued by junior gold explorers in the current century.
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The rewards of success explain their keen interest in this search.
As you’re about to see, companies that have made recent Yukon discoveries have found willing buyers among the world’s mid-tier and major gold miners.
While those discoveries have already made fortunes for early investors, all signs point to more discoveries in the future.
And, thanks to its Sixtymile project, Flow Metals (FWM.CN) has a legitimate shot to write its own chapter in the Yukon’s storied history.
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Building On Recent Discoveries In The Yukon
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The fairly recent examples of Underworld Resources and Kaminak Gold highlight the upside of a discovery at Sixtymile.
Underworld sparked a new rush to Yukon’s part of the Tintina gold belt in the late ’00s, thanks to the discovery of a 1.5-million-ounce gold deposit on its White Gold project.
White Gold’s gold resource convinced Kinross Gold, in 2010, to acquire Underworld for C$139.2 million, a price that delivered money-multiplying gains for early investors.
A similar story played out for Kaminak Gold and its nearby Coffee project.
Diligent exploration enabled Kaminak to outline a three-million-ounce resource at Coffee and then to attract a C$520 million buyout by Goldcorp in 2016.
Again, early shareholders who got in on Kaminak before Coffee’s potential became clear enjoyed lucrative gains from the Goldcorp takeout.
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Modern Exploration Highlights Potential Of Past-Producing Creeks
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Will Flow Metals follow in Underworld and Kaminak’s footsteps at Sixtymile?
The potential is certainly there. The creeks you see highlighted in blue on the property map below have generated 160,000 ounces of placer gold and include the famous Miller Creek.
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Here, Flow is chasing the source of the local coarse-grain gold it continues to encounter in these streams.
To assist its search, the company has employed magnetic and very-low-frequency (VLF) geophysical surveying to identify targets along and between them.
These modern exploration techniques have already been used successfully by other companies in the region, including White Gold and Klondike Gold.
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Here’s where today’s opportunity lies: The targets revealed by this work convinced Flow to conduct a late-season drilling and trenching program to test for the gold source around and between these two creeks.
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If geologists are correct and the placer creeks are actually located on key fault systems, the 700 meters of strike outlined so far on the project could expand significantly.
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Visible Gold Is Part Of Early Evidence At Sixtymile
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Adding to the excitement building around the results of this drilling and trenching program is the presence of visible gold in recent trenching samples.
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This visible gold gives management hope that these results will confirm its theories about the tenor of the mineralization at Sixtymile.
The targets were selected by overlaying the results of that geophysical surveying over the placer occurrences on the project.
Given that Miller Creek alone has generated approximately 100,000 ounces of placer gold, Flow is eager to see what the assays from its 2020 program yield.
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Impending Results Tee Up Intriguing Discovery Bet
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Between Sixtymile’s history of placer gold, the geophysical targeting Flow has done and these impending assays, Flow Metals is a highly prospective drill-hole play.
Visible gold isn’t a guarantee of significant assays, but in this part of the world, it certainly gives hope that market-moving gold intersections are on the way.
And consider this: Flow Metals (FWM.CN) currently trades at between C$0.05 and C$0.10 a share.
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At less than C$2 million, Flow’s market cap is still miniscule. And that adds up to huge potential if they even sniff a discovery at Sixtymile.
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So far, the market’s essentially asleep at the switch here. But that could change quickly if the drilling and trenching samples currently at the lab show significant gold.
Obviously, investors will need to hurry if they want to speculate on the upside of good results. Assays are due any day now….
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