Bob Moriarty of 321 Gold discusses Stakeholder Gold and the cutting-edge exploration technology it is employing in the Yukon.
Back in mid-July I did a piece on Auryn Resources Inc. (AUG:TSX.V) where I talked about their use of drones for imaging and Rotary Air Blast (RAB) drilling. Auryn is working in the far north of Canada where costs are double and more of working in, say, British Columbia. By use of RAB drills and down-hole cameras they have come up with cost savings of up to 75% yet the data they acquire immediately is as good or better than core drilling.
Auryn is working with a consulting company named Groundtruth Exploration based in Dawson, Yukon Territory in Canada. It was actually Groundtruth that came up with the concept of mixing down-hole cameras, common in the oil industry, with RAB drills. RAB drills are far faster than core rigs at 25% of the cost of core drilling but they provide chips, not core. Geologists always prefer core even if the accountants can’t stand them. But the combination of RAB drilling and down-hole cameras makes both the geologist and the accountant happy at the same time.
Groundtruth is the product of a number of people associated with and around Shawn Ryan and Cathy Wood in the Yukon. In May of 2011 the New York Times published a piece about Shawn Ryan. I wrote a piece talking about the heroes of mining about 18 months later where I gave credit to Shawn as being the best prospector in the Yukon.
In short, Groundtruth is leading the entire mining industry worldwide in the introduction of new technology to solve old mining exploration problems. They are doing it with Auryn and now with Stakeholder Gold Corp. (SRC:TSX.V) in the White Gold District of the Yukon.
Stakeholder began in …read more