Canadian Orebodies: Back to Hemlo – by Jay Currie (Resources Wire/Financial Post – April 30, 2017)

http://business.financialpost.com/

Gordon McKinnon, CEO of Canadian Orebodies (V.CORE), has gold mining, specifically gold mining at the famous Hemlo gold camp, in his blood. After all, his father, Don McKinnon co-discovered Hemlo back in the 1980’s. “I swore I’d never go into the business,” says McKinnon. But here he is helming a company which is exploring for gold at, well, Hemlo.

“We voluntarily delisted the company back in 2015. There was no money available for gold exploration and we wanted to save all costs possible to ensure the company could continue,” said McKinnon. “We joke that we called the bottom of the market when we delisted. Then, in January 2016, Rob Cudney (of FNX and Gold Eagle fame) came into the lunchroom at Northfield Capital, where we have our offices, and said, “This is the turn. We need another Hemlo.”

“Hemlo itself had a bit of a stigma that it had been picked over,” said McKinnon. “But the fact is that greenstone belts that produce mega ounce deposits, like that at Hemlo, almost always produce other systems. And, at the time, near Hemlo you could stake what you wanted.”

“I got in touch with our board member, John Harvey, who ran Noranda during the Hemlo boom and he put me in touch with Bruce Mackie who had been Noranda’s chief geologist who said, ‘Why bother?’ but I convinced him to spend three days of his time looking for areas in the camp with underexplored potential. He called back and asked for three more days and then an additional week. Now both these ex-Noranda guys are the ones that see the potential and are leading the charge.” said McKinnon.

What had caught the company’s attention is an area they refer to as the “North Limb”. “There were over a hundred historical drill holes on the property, but we saw lots of potential to go in with modern geophysics and a different mindset. It has similar geology to the southern portion of the belt which hosts the Hemlo mine, but it has been separated by a pluton.” explained McKinnon.

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