13.4 g/t Gold in Quebec, But Is There a Real System? | Bullion Gold CEO Interview

SPEAKER_1 (0:00)

This video is sponsored by Terrahutton, who makes the invisible, investible. Today on the CEO BBQ, early stage gold exploration in the Abitibi Greenstone Belt of Quebec in Canada, together with Bullion Gold.

But if you're short on time, subscribe to our free newsletter, and once a week, we'll send you a five-minute summary of all interviews we put out, resourcetalks.com for a free weekly newsletter. Now, although this company has not paid us for the production of this video, you should still understand that we are not financial advisors, and this is not intended as financial advice. It is a broad, general, and in-personal piece of information intended only for those who know and understand the risks of junior mining, of which there are many. Before moving on, read the company's official filings on SitterPlus.ca and do your own due diligence. Pause the screen and read all the disclaimers I've shown you because your capital is at risk. If this isn't clear, go to the last section of this video for a longer explanation of the risks and biases, and do not consume this content if you don't agree with everything said therein. Moving on, the flagship project for Bullion Gold is Terragold. It's a 100% owned project. It's about 12 kilometers south of Sennatierre and again, the Abitibi Greenstone Belt of Quebec. The target there is a structurally controlled gold system associated with quartz felt part porphyry intrusive corridor and a historical drilling trace mineralization for roughly 2.2 kilometers and to about 250 meters of depth.

Bullion spent this summer testing the old geological story there and a bunch of the other stuff. So they drilled 32 diamond holes for almost 4,000 meters, along with stripping, channel sampling, structural work, those reallocation of the historical drill colors, all kinds of things they will talk about later. The first four drill results have actually just been released. They were released last week in the headline grade. There was 8.4 meters at 2.5 grams, including a one meter interval in there, there was 13.4 grams. Although there was another hole that returned a different, really completely different grade and width profile. So we're talking about 44.5 meters of 0.4 grams per ton.

Surface Channel Works separately had returned 9.6 meters at 2.8 grams of gold, including in there a one meter interval at 22 grams.

There again, they drilled 32 holes for those who've been announced. So even I can do that math. And it says that there are 28 more on drill holes that are still outstanding, and results are expected to continue through the coming weeks and potentially into late 2026 as well. After which, what they're going to do is basically integrate the full data set into the geological model and try to figure out how big the next drill program has to be, part of which, of course, I'm hoping to discuss later on in the conversation as well. They do have other stuff in the portfolio, quite a lot actually, beyond the flagship. So there's Bousquet, which is roughly 30 kilometers east of Roy, Miranda, that's the most advanced secondary gold project that they have. But Bullion doesn't run this one themselves. It's actually being funded and operated by Olympiou Metals under an option agreement and they've already earned 51 percent. The option though is to earn up to 80 percent of that project. Then there's Langley, that's another project they have exposure to. It's about 110 kilometers east of Santerre, and this one is 100 percent owned. It's a polymetallic project, VMS style. We're talking copper, zinc, gold, silver, 2026 drilling there.

Return some interesting intervals as well. 41 meters and 1 percent of copper equivalent, and 30 meters and almost 1 percent of copper equivalent. Bodo is yet another project, roughly 200 kilometers north of Shibugamu, and this is an earlier stage project. It's also being actively worked though. There's rock sampling, there's tripping, there's channel sampling, there's geological mapping and stuff like that going on. It's also something that I'm hoping to touch upon in the latter part of the conversation. Those projects won't really be the focus though. Now for some of the numbers in more details, Bullion Gold Discoveries is listed as BGD on the TSIX Venture Exchange in Canada, where the average daily volume of the last three months has been about 44,000 units. 52-week high is 12 cents and a 52-week low is 5 cents. With 126 million shares outstanding and a $10.7 million market cap today, this is an 8.5-cent stock. There are 10 million options and 37 million warrants outstanding. So dilutive securities here represent about 37% of the 173 million shares on a fully dilutive basis. Last time they raised capital was in June. They raised $2 million Canadian dollars at 9 cents a share with a half a warrant at 15 for 18 months. How much money have they got left now after all that work this year? How far is that money going to get them? What kind of work is it going to buy them? And when might they have to go back to the market? Those are of course questions that I'll be asking later on in the conversation, but for this to actually become a conversation though, I will have to shut up already. And Simon, I'll give you the word here, but first of all, thank you for sitting down with me today.