| Dear Fellow Investor,
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| The best place to look for high-grade gold is in an area brimming with it.
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| Geologists have usually scoured such areas…but sometimes forgotten history, receding glacial ice and market timing can hand area experts a new high-potential target that completely escaped previous explorers.
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| That’s the essence of the Blackwolf Copper and Gold (BWCG.V) story — except that this company has uncovered two such targets.
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| And the timing for such a discovery is perfect: Only two kinds of metals and mining stocks are handing out strong returns these days: uranium stocks and new discoveries.
Owning uranium is easy. Knowing what stocks are likely to deliver exciting new discoveries is not! But there are ways to increase your odds:
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| 1. Choose companies with more than one opportunity to deliver splashy results
2. Demand a clear exploration plan based in deep technical expertise
3. Only buy companies that have and can raise money no matter the markets.
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| Out of the relative few companies that meet these requirements today, perhaps the most exciting is Blackwolf Copper and Gold. The company drilled two projects this summer, both near the mining town of Stewart, BC, and both have potential to generate splashy, high-grade results within days.
The Blackwolf technical team are experts in this area — and backing from a famous mining investor plus a team with deep junior mining experience means this company has cash.
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| Results from these projects are imminent, including a hole with chunky visible gold from one project and holes with vein intercepts and wall rock that also looks mineralized from the other project.
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| Of course, it’s usually very difficult to win discovery bets.
But drilling into never-before-tested veins that carry high gold and silver grades where they outcrop...and then drilling beside a few high-grade-but-forgotten hits in a target that geologists with deep regional expertise just reinterpreted...make for one of the strongest discovery bets one may ever encounter.
Consider these exciting details...
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| Visible Gold At The Harry Project
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| This map below is a good start to the story of the Harry project, which sits in between the line of high-grade deposits that Ascot is about to start mining and the rich old Scottie gold mine. Continue just 25 kilometers along trend to the northwest and you hit the Brucejack project, home to 7.6 million ounces of very high-grade gold.
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| Click image to enlarge
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| The target zones at Harry parallel this overall trend, running northwest. They look like the zones that carry all the gold at Premier — intense alteration, quartz veins and breccias, and lots of sulphides.
Each target area looks obvious today, but as the map below shows, only a few years ago ice covered the entire project, completely obscuring these gaudy rocks.
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| Click image to enlarge
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| The cluster of targets at the north end has seen the most work. It’s also where Blackwolf drilled this summer, after buying a small explore-co called Optimum Ventures to get Harry. Optimum pulled a nice hit from the Swann zone in late 2021 — 15.6 meters grading 3.1 g/t gold, 433 g/t silver, 0.6% copper, 7.2% lead, and 8.7% zinc starting just 9 meters downhole — but got no love for it from a weak metals market.
The lack of market response worked out well in the end because it prompted Optimum to merge with Blackwolf, which put the Harry project in the hands of some of the best geologists in the Stewart area. Those geos came up with a different concept around which way the rocks sit.
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| And that concept seems to have worked — we don’t have results yet, but all seven holes drilled into Swann appear mineralized and one returned “coarse visible gold” in a hit 250 meters away from Optimum’s stellar hit.
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| If this first-pass drill effort outlines a nicely mineralized gold zone that already shows scale with just a few drill holes, the market will likely see Swann as a splashy new gold discovery in an area renowned for high-grade gold.
And that discovery will be in company with the backing to keep advancing and a geologic team who are absolute experts in the Stewart area. That could generate a nice market reaction.
The first results from Harry are likely coming in about a week. But while the imminent release of seven drill assays from a likely new discovery is a good reason to own a stock, Blackwolf is also awaiting results from three holes drilled at Cantoo.
And those holes might also deliver a discovery.
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| First Drilling of High-Grade Veins at Hyder
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| Two years ago Blackwolf’s then CEO and now chairman, Rob McLeod, unearthed records of some high-grade veins almost visible from the Premier mine that had been forgotten. McLeod’s local knowledge and connections (he’s from the Stewart area) soon put five new projects into Blackwolf’s hands. Collectively they are the Hyder properties.
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| It’s amazing these projects had been forgotten, given their rich history. Back in 1925 prospectors found incredibly high-grade gold in loose rocks.
They traced them back to the Texas Glacier, which they tunneled underneath (!!) to mine the bedrock.
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| Getting ore out required a road with a bridge, which they also built. Small-scale mining ebbed and flowed with wars and weather over the years, ending in 1961 when the bridge washed out. That was long enough ago that the rich operation was apparently forgotten.
In the last 60 years the glacier retreated. The image on the left is taken from inside one of the tunnels mined through thick glacial ice. The image on the right is taken from the same spot, now ice free.
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| That mining operation tapped the Cantoo veins, which are visible in a steep hill rising up from the west side of a creek loaded with placer gold (highlighted in yellow below). The Premier mine is just a few kilometers to the east, over a ridge.
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| Click image to enlarge
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| Premier matters for two reasons. First, it is being built as a hub-and-spoke operation tapping three deposits. It goes almost without saying that Ascot would be interested in a fourth deposit, should Blackwolf find such.
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| Second, Premier’s deposits are high-grade veins, exactly the kind Blackwolf seeks at Cantoo. These veins exist in significant scale just across the ridge.
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| The photo below shows what the target looks like...
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| The cross section below shows the sampling grades (!) and drill plan.
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| Blackwolf ended up drilling three holes from the top of the ridge.
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| All three returned veins right where expected, which is promising given the very high grades these veins carry along the cliff face.
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| As a bonus, the holes showed that those veins sit within surprisingly altered and potentially porphyry mineralized host rocks.
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| ...Then There’s Niblack
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| Blackwolf has a third project called Niblack. It hosts lenses of sulphide mineralization right at tidewater on an island in Alaska and several rounds of exploration have already delineated 5.9 million indicated tonnes grading 0.94% copper, 1.8 g/t gold, 29 g/t silver, and 1.7% zinc, plus a small inferred resource.
Niblack has great grades, it’s already got some scale, and there remain a host of untested targets.
But it takes a lot of drilling to work a project like this as you search for multiple lenses of mineralization within rocks that have been twisted and overturned. Ever pragmatic, the team at Blackwolf decided it wasn’t in shareholders’ interest to spend a pile of money drilling to grow the deposit at this time.
So they got creative.
Blackwolf is working with three other companies in the area — Dolly Varden Silver, Goliath Resource and Coast Copper — on a hub-and-spoke concept that would see a central mill processing material from multiple mines. It’s a good idea because mills are expensive to build and operate; sharing that burden could well make several small/medium deposits that might not have been worth mining alone very much worth the effort.
This approach stands to create a winning path forward for the Niblack project, one that has not had any love from the market even though it has good grades, some scale and lots of potential to grow.
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| Cashed Up...
And Results On The Way
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| Blackwolf has 122 million shares outstanding. At a share price of C$0.22, it is valued at C$27 million.
There are lots of junior exploration companies today trading at less than that. But there are very few with results pending from two projects, each of which has very strong targets and kicked out drill core with visible veins, alteration and (in the case of Harry) globby gold.
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| It’s also exceptionally unusual for a junior to have a famous mining financier actively backing the company. Frank Giustra owns 13% of Blackwolf after re-upping his stake in the latest financing.
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| That financing added $3.28 million to Blackwolf’s bank account, bringing cash on hand to roughly $7 million. It’s enough to work at Niblack this winter before getting back to Cantoo and Harry next summer.
From all the evidence above, the odds are good that the Swann target at Harry produces some high-grade intercepts, turning a forgotten one-hit wonder into a strong new gold discovery.
Not only that, the Cantoo target at Hyder could soon return splashy gold-silver intercepts from at least one vein and possibly several stacked veins, perhaps within a mineralized porphyry envelope.
That would give Blackwolf a second new discovery.
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| Considering that both projects sit just kilometers from an under-construction hub-and-spoke gold mine in a part of the world famous for high-grade gold, and the stage is set perfectly.
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| With potentially headline-making drill results due in just days, the time to look at Blackwolf is now.
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| CLICK HERE
To Learn More about Blackwolf Copper and Gold Corp.
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