Blackwolf Copper & Gold (BWCG) - Infrastructure & Expansion Update

Blackwolf Copper & Gold Ltd. is a mineral exploration and development company based out of Vancouver, British Columbia. The company is listed on the Toronto Stock Exchange (TSX-V: BWCG). Its flagship site is the Niblack project located on Prince Wales Island in southeast Alaska.

We met with Rob Mcleod, President, CEO, and Director at Blackwolf Copper & Gold. Rob is an exploration geologist with over 25 years of experience working with major and junior mining companies based out of Alaska, B.C, Yukon, and Nevada. Robs also serves as a Director for the Britannia Mine Museum. He is the former President and CEO of IDM Mining Ltd.

Company overview

Blackwolf Copper & Gold (formerly known as Heatherdale Resources) is a mining and exploration company founded in 2007. In 2020, revamped its management team, board of directors, and vision. The company has 4 major projects in its portfolio. These include the Niblack Project, the Texas Creek Property, the Cantoo Property, and the Casey Property.

The Niblack Project

The Niblack Project is the company's flagship site that featuring copper-gold, silver, zinc, and volcanogenic mass sulphide deposits. This project is situated at the Prince of Whales Island in southeast Alaska. Blackwolf Copper & Copper holds 100% interest in the area. The site is in an advanced stage with high-grade, bulk mineable underground resources complete with a full-sized production ramp.

The company recently completed 2 rounds of drilling in different areas of the property to track the source of high-grade gold and silver deposits. They have 2 sets of management teams working on their 2 major projects simultaneously.

Blackwolf Copper & Gold is looking for an M&A down the line as Niblack is a site with 5.6Mt indicated and 2.4Mt inferred resources. It features subsequent drill infills. 

The company has a results-driven approach when it comes to the Niblack Project. Being a historical site, a limited amount of the overall claim has been explored so far. For instance, the Dama Zone is a hole drilled in 1994 featuring 6% Copper at a depth of 19m. The company plans to focus on geophysics and explore multiple areas at the site.

They are seeking additional opportunities to combine the overall supply from the Niblack project in a hub-and-spoke arrangement with the stranded deposits in Southeast Alaska and Northwest British Columbia.

Blackwolf Copper & Gold has a BFS (Bankable Feasibility Study) planned which would be the deciding factor for the future direction of the project. The company has recently upgraded the site's infrastructure with a larger camp which will accelerate the ongoing drilling and engineering work.

Capital Raised

Blackwolf Copper & Gold recently raised $5.4M through shareholders and European institutions. The company closed the financing window before releasing the drill results. The amount was raised through more than 30 investors that include existing shareholders, Bellbrook Capital, Vancouver, and several clients from Haywood Securities, the company's official broker.

Since March, the company has seen appreciation in its share price where it grew from $0.85c to $1.26. The market responded positively to the company's drill result findings. Currently, the company has a market cap of $28M along with $3M liquidity.

The company is waiting for the results of additional assays and is currently in the process of purchasing a camp on lease from an indigenous-owned company along with new fuel tanks. The remaining capital will be utilized towards on-site drilling, sampling, and geophysics.

The company plans to bring large institutions on board during the next round of funding as a way to raise their liquidity. This round will be focused on taking a departure from the retail investors.

Drilling results

The initial drill results uncovered strong assays which helped in validating the company's geological model across the Niblack system. The VMS (Volcanogenic Mass Sulphide) systems are strata-bound one type felsic volcanic rocks featuring mineralization.

As the Niblack site belongs to the Neoproterozoic age, there has been significant deformation at the site leading to 2 folding events. Equipped with this information, the company was able to uncover 4-8% copper values with associated gold, silver, and zinc in the first batch of drill results that were located 1km from the existing resource.

The Lookout zone is a wide deposit with a typical VMS system structure. It features big troughs of mineralization that extend up to 20m wide. This side is ideal for bulk mining and has the potential to offer strong recoveries.

The company recently released the second batch of drill results from the Lookout zone, the company's main deposit. The company hit 2 holes at a 30 range and found 3% copper equivalent sources, which are bound to add significant tons to the existing supply.

Exploration Strategy

On the Alaska side of the border, there hasn't been a modern exploration program carried out in recent years. The most recent program was carried out by the Federal geologists of the US Government in the 1990s where high-grade gold and silver deposits were sampled from the older mines.

The area is spread across 3,600 hectares of land where the main claim is 3.5km wide and 10km long. The second block is located alongside the Ascot Resources' premier project. Rob is currently planning a small survey and exploration program in the area for discovering potential deposits.

The vision at Blackwolf Copper & Gold includes a significant ESG (Environmental, Social, and Governance) component, which conforms to the European norms. They are looking to carry out exploration operations while maintaining a low carbon footprint and respecting the local communities. The company has strong core values when it comes to protecting the local communities while maintaining a low environmental impact.

To find out more, go to the Blackwolf Copper & Gold website