Homestake Resource Corp. is a Canadian-based exploration company, committed to increasing shareholder value with an experienced management team that has successfully demonstrated the ability to identify, explore and develop gold/silver properties within North America.
The Company operates two major projects totalling 661 sq. km in the emerging Kitsault Mineral District. The primary asset is the Homestake Ridge Project, a gold-rich epithermal/VMS-related vein system hosted within Eskay Creek equivalent stratigraphy, with three deposits containing NI 43-101 compliant resource estimates.
Since acquiring the property in 2003, 74,973 meters of exploration and delineation drilling have been completed, leading to the identification of a NI 43-101 compliant mineral resource estimate of 124,000oz gold and 939,000ozs silver indicated plus 911,000ozs gold and 20,366,000ozs silver inferred at an $85NSR cut-off in three separate deposits(1).
The Company has entered into a property and share purchase agreement with seasoned and respected Canadian mining company Agnico Eagle Mines Ltd which assumed project management since January 2013, under the August 2012 option agreement. Agnico Eagle has funded a total of $4.3 million in exploration expenditures between 2012 and 2013. Agnico-Eagle has the option to earn up to 65% interest in the Homestake Ridge Project with the staged expenditure of $25.3 million over 6 years.
The Company has added to its land position in the Kitsault District through the acquisition of the Kinskuch Project, which is a 625 sq. km package of land contiguous to the Homestake Ridge Project. This project contains several highly prospective exploration and drill ready targets within similar stratigraphy to the Homestake Ridge Project. In 2011/12, Homestake Resource completed 3,860 In-km of airborne geophysics, four drill holes totaling 856 metres and surface mapping and sampling of the first set of high priority targets.
The Company’s Nevada holdings, strategically located within the Battle Mountain/Eureka, Walker Lane, Northern Nevada Rift, Austin and Kings River Rift gold trends, have been spun-out to Bravada Gold Corp. Homestake Resource holds a 10% shareholding interest in Bravada Gold Corp.
Homestake Resource Corp. is affiliated with Manex Resource Group, a private company comprised of an exceptional multi-disciplinary team of professionals, with specific expertise in all the areas of exploration, development and public company administration.
(1) The current estimate was prepared by Roscoe Postle Associates Inc. (RPA). Mineral Resources utilize three separate block models constrained by 3D wireframes of the mineralized zones. The block models are comprised of an array of blocks measuring 5 m x 5 m x 5 m, with grades for Au, Ag, Cu, AuEq and NSR values interpolated using ID3 weighting. The models identified an indicated resource of 604,000 tonnes averaging 6.4g/t Au, 48.3g/t Ag and 0.18% Cu and a cumulative inferred resource of 6,765,000 tonnes averaging 4.2g/t Au, 93.6g/t Ag, 0.11% Cu.