October 14, 2022 (Investorideas.com Newswire) Going public in solely 10 months and for underneath 100k, Sasquatch Sources Corp. has caught knowledgeable Penny Queen’s consideration. On this article, she particulars what it’s she finds so spectacular concerning the useful resource firm and the place she believes it might be headed sooner or later.
Sasquatch Sources Corp. (SASQ:CC;SASQ:CNX) occurs to be my solely treasured metals prospect play.
To place it in perspective, my investing life is crammed with gold bugs and their ilk, and but that is the one firm searching for gold that I maintain. So why do I prefer it a lot?
Why I Like SASQ
First, the economic system is unhealthy, and that’s traditionally usually good for treasured metals. Extra importantly, Sasquatch is reasonable, and in my estimation, it has an ideal shot at changing into a producer.
It is usually model new and, like its namesake, not many individuals have seen it. Whether or not that’s on their very own or by being acquired, I do not care.
For non-gold or treasured metals lovers, it is advisable perceive the way it works. Individuals pay to assert land and go searching for gold.
This generally is a very costly and time-consuming undertaking.
It usually entails a number of analysis, pouring over historic data, then bringing out costly drills, getting lab experiences, hiring geologists, writing a 43-101 web page report, and remember spending round half 1,000,000 to turn out to be a publicly traded firm.
Within the case of Sasquatch Sources and its property on Mt. Sicker, it was completed very effectively with a tightly knit and expert crew, which has drastically decreased prices and elevated shareholder worth.
Among the preliminary drillings have been truly completed with a backpack drill. The CEO and director, Pete Smith, was an lawyer, Cambridge grad, former Supreme Courtroom clerk (former pro-wrestler), and is at present a serial founder.
Underneath his route, the corporate went public in solely 10 months and for underneath 100k.
For reference, the method usually takes rather a lot longer, and a buying and selling shell alone is often value about $1 million, ignoring property.
I used to be concerned on this undertaking with my StreetSmart DealFlow community earlier than it went public, and I bought to observe all of it come collectively. I’ve bodily toured this declare and was capable of finding samples by myself that, even to my novice eyes, had seen mineralization.
A rock I discovered that seems to be heavy in copper
On September sixth of this 12 months, they lastly made it public, with 2103 hectares on Mt. Sicker on Vancouver Island in British Columbia.
Lower than two weeks later, they introduced choosing up a further 1232 hectares adjoining to the property from an arm’s size investor, aka a part of the group, for less than the price of the declare payment, about $3k.
The areas added have been chosen due to the historic minfile mineral occurrences (authorities data of useful resource discoveries).
Supply: Sasquatch Sources
The unique 43-101 (Requirements of Disclosure for Mineral Initiatives inside Canada) confirmed a number of the sampling completed included some insanely excessive mineral ranges, with the ranges as excessive as 23.3ppm gold, 397ppm silver, 10.65% Copper, and ~30% Zinc.
There are two recognized VMS deposits (Volcanogenic large sulfide ore deposits), with considered one of them being in a serious EM anomaly.
The constraints of the required 43-101 are, in my perception, a boon to any investor keen to place in some effort. There are a lot of historic data that aren’t 43-101 compliant however might be discovered within the minfiles (and famous within the 43-101); I like to recommend studying or at the least skimming by means of them.
For instance, this quote talks concerning the dump materials on the Lenora mine: “In 1967, Mt. Sicker Mines Ltd. accomplished a feasibility research for leaching copper from dump materials from across the previous producing mines Lenora, Tyee and Richard lll. In 1969, an indicated mineral sources estimate was printed for Lenora consisting of 317,485 tonnes averaging 1.6% copper, 0.65% lead, 6.6% zinc, 140 g/t silver, and 4.11 g/t gold”.
The query on this property is just not, is there priceless sources, it’s how a lot is there.
The 5 historic mines on the property return so far as 1898, the place gold, silver, zinc, copper, and lead have been all mined. The mines produced over 350k tonnes of high-grade ore.
You is perhaps asking your self why you need to personal mineral rights someplace that somebody already mined.
The most important causes are know-how and economics. Many of the mining was completed throughout occasions when a choose and axe have been a miner’s instruments. There have been no aerial LIDAR or geophysical surveys, no handheld XRF analyzer weapons, no historic data to level individuals in the appropriate route, and there was about 100 years much less geological data.
The flexibility to find and extract minerals was typically inefficient and led to tailings piles that also have priceless metals. A normal rule in mining is that the older the tailings are, the upper grades inside them.
The economics of which minerals may very well be mined for revenue was additionally a lot totally different. On Mt. Sicker, it seems that Zinc was merely tossed to the facet; fortuitously, in a big, neat, and tidy pile. (A number of tailing piles and areas of waste rock across the declare may find yourself being processed by cellular processors.)
The prior opening and shutting of mines throughout the Sasquatch claims appear to coincide with financial woes. The final mining occurred in 1953 when gold (adjusted for inflation) was underneath $400 an oz..
Sasquatch listed on September 6, 2022, with lower than 18 million shares and solely 6.1 million free buying and selling shares. (Even my shares are nonetheless locked up for a number of extra months.)
I like a decent float, however I’m actually hoping a number of the unique founders and a number of the non-public placement holders will likely be keen to half with a few of their shares. My guess is that when the share worth will get a little bit nearer to everybody’s perceived worth, that quantity will enhance considerably.
I’ve not and won’t be compensated for this report in any method. I write experiences on my favourite picks; that is meant to be academic and never funding recommendation, as I’m not an funding advisor, only a mother on a mission to make the world higher and earn cash alongside the best way.
Photos supplied by writer.
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