The Smartest Investors Club
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Smartest Investors Club

Investing

Eskay Mining Wraps Up Summer Exploration, Prepares for 2025 Drilling Program

by August 27, 2024
August 27, 2024
Eskay Mining Wraps Up Summer Exploration, Prepares for 2025 Drilling Program

Eskay Mining (TSXV:ESK,OTCQX:ESKYF) has wrapped up its summer exploration program, laying the foundation for a drill program in 2025 after opting to postpone drilling activities due to market conditions.

“Because of the recent depressed market for mineral exploration companies, we decided to be financially prudent and hold off on undertaking a drill program this season,’ said President and CEO Mac Balkam.

Led by experienced geologist Ken McNaughton, Eskay focused on advancing its understanding of key areas in BC’s Golden Triangle region. The company’s work, which concentrated on assessing geological potential, involved ground investigations across several regions, including Storie Creek, Scarlett Knob, Tarn Lake and others.

Over the summer, Eskay gathered and submitted 363 rock samples for laboratory analysis. The company anticipates receiving results by September; they will help define future drilling targets next year.

McNaughton’s team believes Eskay can explore and drill aggressively in 2025 once capital markets have improved.

“Our keen financial management has left us in the strong position of having over C$2.5 million in cash, cashable instruments and government resource credits at a time when the exploration industry is generally cash starved,” Balkam explained in a Monday (August 26) press release.

The company’s exploration strategy is aimed at further unlocking the potential of its 100 percent owned TV, Jeff and SIB/Lulu deposits. Once its database update is finished, Eskay plans to complete a resource estimate for these deposits.

In June, the company agreed to merge with P2 Gold (TSXV:PGLD,OTCQB:PGLDF) in a deal that would have resulted in a new entity focused on both gold and copper exploration, with projects located in BC and Nevada.

However, the companies agreed to terminate the letter of intent in late June due to market conditions.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com
0
FacebookTwitterGoogle +Pinterest
previous post
2024 Countdown: Harris has post-DNC momentum but Trump is burning up campaign trail with 10 weeks left
next post
Replacement ASX Prospectus

You may also like

Heritage Exercises Option to Acquire 100% Interest in...

Carbon Capture and Storage: Basic Facts for Investors...

Option to Acquire Residual 49% of Comet Vale...

BPH Energy LimitedInvestee Cortical Dynamics Presentation

Pinnacle Provides Update on Proposed Acquisition of El...

Anteros Metals

Hempalta Corp. Announces Financial Results for Three Months...

Eagle Mountain Uses Fleet Space Technology to Advance...

Brightstar Resources Limited (ASX: BTR) – Trading Halt

Mines and Money Miami 2025: Here’s What You...

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Trump’s tax hike proposal is ‘déjà vu’ of George H. W. Bush’s...

    • Pope Francis-era deal with Chinese Communist Party again under scrutiny as Pope Leo takes the reins

    • Diver dies in preliminary operations to recover tech tycoon’s sunken superyacht

    • Metals and Mining Virtual Investor Conference: Presentations Now Available for Online Viewing

    • Vance says India-Pakistan conflict ‘none of our business’ as Trump offers US help

    Categories

    • Business (1,633)
    • Investing (4,792)
    • Politics (7,543)
    • World (6,131)
    • Terms & Conditions
    • Privacy Policy
    • About us

    Disclaimer: thesmartestinvestorsclub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 thesmartestinvestorsclub.com | All Rights Reserved


    Back To Top