Mining for Treasure in Alaska's Golden Triangle

In a recent interview with Blackwolf Copper & Gold Ltd. (BWCG:TSX.V), CEO Morgan Lekstrom sat down with Stock Pulse host Rob Goodman to highlight the company's ongoing exploration efforts in Alaska's high-potential Golden Triangle region.

Goodman mentioned that Blackwolf has ongoing drilling at its Cantoo project in Alaska.

Lekstrom said the company's Cantoo project sits just 600 meters from the formerly high-grade premier gold mine, now being redeveloped. The area has seen minimal modern exploration compared to the Canadian side of the Golden Triangle. But Blackwolf Executive Chairman Rob McLeod acquired a 1920s "treasure" map suggesting rich undiscovered veins at Cantoo. Initial drilling has been positive, with updates imminent.

Beyond exploration upside, Blackwolf's nearby Niblack project hosts copper resources to provide asset backing. Lekstrom believes demand for electrification makes copper a favorable long-term bet.

Overall, Lekstrom believes Blackwolf offers that rare "needle in a haystack" opportunity, combining low-risk assets with high-reward exploration potential. He advises investors to watch for upcoming drill results, which could reveal the next major Golden Triangle discovery on the under-explored Alaskan side.

Maiden Drill Program Completed

On September 5, the company relayed the completion of its Maiden Drill Program at the Cantoo Property, located in southeast Alaska. The drilling consisted of three holes, amounting to a total of 1,356 meters. Initial visual examination of the extracted drill core samples showed substantial alteration and mineralization, which is indicative of a porphyry deposit. The Cantoo Property lies adjacent to the Canadian border and near the historic Premier Gold Mine, which is currently undergoing redevelopment.

Highlights of this included:

• Three core drill holes were completed at the Cantoo Property, reaching total depths of up to 676 meters.
• Substantial alteration and mineralization were encountered during drilling, which is consistent with a porphyry-style system similar to copper-gold +/- molybdenum deposits found in the Golden Triangle region.
• Zones of robust silicification, including veining containing sulfide minerals, were intersected. These zones correlate with surface expressions that were identified during previous surface sampling.
• While awaiting assay results from the Cantoo drilling program, the drill rig has been relocated to test for gold-silver targets at the Harry Project.

In light of this, CEO Morgan Lekstrom commented, "We are pleasantly surprised encountering indications of a porphyry system at Cantoo, although it was not unexpected given the history of the area and proximity to the Premier mine. Cantoo may represent a telescoping porphyry feeder complex to the high-grade Premier-Big Missouri epigenetic gold-silver veins, similar to the KSM-Snowfield system that underlies the Brucejack Mine to the north. 

In summary, there are strong indications that we are in the right rocks and location as we’ve hit zones at depth that are encountered at surface. Assay results are pending for these initial drill holes as well as the summer surface sampling program and will be released when available. In order to make good use of the summer exploration window, the drill has been moved to the Harry Property while we await these results."

Experts Rate Blackwolf a Buy

In late May, Couloir Capital maintained its Buy rating of the company, saying, "With an updated resource estimate and sufficient funding, we believe Blackwolf will look to build on recent strength and maintain momentum going into the rest of 2023."

Red Cloud analyst Taylor Columbizer also rated Blackwolf a Buy in a June research report, giving it a CA$0.70 target price. In the report, Columbizer noted, "With plenty of exploration upside and a potential future pathway to production through Kitsault, we believe investors should pay close attention to the Blackwolf story as exploration results continue to serve as the main share price driver in the coming months."

Technical Analyst Clive Maund rated Blackwolf a Speculative Buy in a July 23 newsletter. 

Ownership and Share Structure

Management and insiders own 24.67% of the company. Frank Giustra owns 13.4% of the company with 10.71 million shares, Robert John McLeod owns 4.23% with 2.31 million shares, Jessica Van Den Akker owns 0.60% with 0.33 million shares, and Morgan Lekstrom owns 0.19% with 0.10 million shares.

Institutions own 11.17% of the company. Crescat Capital, LLC, owns 9.32% of the company with 5.08 million shares, and U.S. Global Investors, Inc. owns 1.83% with 1.00 million shares, and American Money Management, LLC owns 0.02% with 0.01 million shares.

Frank Giustra represents a strategic investor.

The company has CA$8.5 million in the bank as of August 4, 2023.

There are no reported potential sellers or warrants overhang.

There are 80.5 million shares outstanding, all free-floating. The company has a market cap of CA$12.32 million. It trades in the 52-week period between CA$0.20 and CA$0.49.

Important Disclosures:

1. Blackwolf Copper & Gold Ltd. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Blackwolf Copper & Gold Ltd.  
3. Katherine DeGilio rote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
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