Nuvau Minerals: A Forgotten Quebec Mining District Gets a New Look

Trevor Hall (0:16)

All right, everybody, we continue along here on day three of the Beaver Creek Precious Metals Summit. And actually, we're going to introduce a new story that catches some attention here in this gold market, and that is Nouveau Minerals. We do trade on the venture exchange with the ticker symbol NMC. Happy to welcome in Christina McCarthy, the one and only. CEO of the company, she is so active. I don't even, like, your name is everywhere.

Everywhere.

Christina McCarthy (0:45)

I mean, I've been around the markets now for 18 years, which I'm aging myself saying that, but I mean, thank you for having me. It's fun to be here. This conference is so lively this year. And so it's, and I will say to that, I mean, back when I worked for Rob McHugh, and we were in the circuit constantly. So that's probably why that's maybe the names in the circuit still. And so we're on a few boards as well, but really trying to create awareness around Nouveau Minerals, which is my baby now.

Trevor Hall (1:15)

So, yeah, you've had a few successes in recent years, too.

Christina McCarthy (1:18)

Yeah, thanks. Yeah. I mean, my most recent one would have been us on the founder and former CEO of Paycore Minerals.

We went public and 11 months later, we got acquired. I mean, it was the day that we announced a $20 million over-subscribed bought deal. At 4 p.m. when that announcement comes, we ended up getting an offer to acquire our business from, to acquire our company from I-80 Gold. So, it was a not so great market and at a $90 million valuation. So, it was a really fun time. I mean, it was bittersweet because I just raised the money to really start drilling that company, but it was a great opportunity. And I think for I-80, it's district scale opportunity. So, yeah.

Trevor Hall (2:04)

Well, you are trying to replicate or repeat that success here with Duvo. And so, let's do kind of take a deep dive into the company. Obviously, we got to maybe start out with Thundermine.

Christina McCarthy (2:15)

Yeah.

Trevor Hall (2:15)

That's where the recent drilling has come from. So, maybe give us the 30 foot view, 30,000 foot view and then dive in with the exploration strategy.

Christina McCarthy (2:24)

Yeah, for sure. So, this one is interesting because, and most people don't know this, but we only just acquired 100% of this asset in March 2026 So, very recent. And then we finally got the first drills off after the spring runoff for July. And this would have been, so we were restricted to where we could drill and what metal we could drill for. So, until our deal closed with Glencore on 100% basis, we were restricted to where we could drill for base metals and we were restricted to drilling any gold targets at all. And so, this was one of the more favorable ones. It was looked at in the 1950s for copper.

They realized there was these gold bearing structures there, followed up with six holes in the 1980s and discovered that there in fact was gold there when they were looking for copper. So, we drilled our first couple of holes there and we had 139 grams over a minable width of 4.45 meters. We did a 50 meter step out and hit over 17 grams higher in the system, so closer to surface. We hit 17 grams over just under 3 meters. So, really exciting story because we've announced four holes out of 10

Seven out of those 10 holes actually had visible gold. And really, the gold story here is so exciting because, again, this is the first ever opportunity that we've ever been allowed to start drilling for gold on this massive property package.

Trevor Hall (3:53)

Yeah, what was it before? Where were they drilling before?

Christina McCarthy (3:58)

They were looking for copper mineralization before and then realized, and that was in the 50s, right? And so, this property is, I mean, it hadn't been drilled for 40 years until we came back and drilled. And it sits right, and this is actually the part that's so exciting is, if you know at all the Abitibi and you know the deformation zone, the Sunday Lake deformation zone is so well known because that is the detour discovery, which is now owned by Agnico. That is the Phetalin discovery, which is owned by Walbridge. And you saw the recent investments that Agnico made into that company. Well, this sits on that deformation zone, and it's so key because this property has never been explored for gold. And why is that? It's because Glencore is a base metal company. So why would they ever explore for gold? They've only ever explored for base metals, and they had to be large at that.