Mining Co. Finds 10CM Streak of Visible Gold in British Columbia

Blackwolf Copper and Gold Ltd. (BWCG:TSX.V) has announced in a press release that it has released the drill results from its progress on the Swann zone on the Harry Property, located in British Columbia’s Golden Triangle. The company reports that it intercepted significant amounts of visible gold, “including an approximately 10cm long streak at roughly 140 meters depth.” Further highlights from the drill results include 1,437 grams per ton (g/t) of silver equivalent from the same drill hole, Blackwolf reports.

Morgan Lekstrom, the CEO of Blackwolf, stated, “The presence and quantity of visible gold in the drill core at the Swann zone is promising. We eagerly await assay results from the Swann zone, where drilling has expanded the strike length by an impressive 250 meters and remains open for expansion in all directions.”

Blackwolf reports that the Swann zone contains mineralization structures similar to high-grade precious metal deposits in other areas of the Golden Triangle and that the company expects veins in the zone to contain significant amounts of gold and other valuable minerals.

Falling Yuan Ignites Interest in Gold

According to Stockhead, gold investors may have a unique opportunity as the market for gold in the U.S. falls flat. Stockhead reports that, although the market for gold has failed to reach records again due to a stronger dollar and the Federal Reserve’s decision not to raise interest rates again, there may be interesting opportunities overseas.

Stockhead pointed out that in China, gold is going for US$100 per ounce to certain buyers due to a weakening Yuan and that central banks in China have remained enthusiastic about the precious metal.

A 139% Return For Investors & Catalysts

A Red Cloud Securities Report rated the company as a “Buy” for potential investors and highlighted the impressive possible returns. The report named a target price of CA$0.55 per share while it is currently trading at CA$0.23, projecting a possible 139% return for potential investors.

A Couloir Capital report from June also rated the company favorably and highlighted the company’s resource estimate from the Niblack project.

According to the report, “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.”

The Technical Analyst Clive Maund also reviewed Blackwolf at the beginning of the year and rated the company as “an Immediate Strong Speculative Buy.”

Maund highlighted the company’s share position, commenting, “With the Wedge pattern now closing up and the price has dropped back to an important long-term support level, a breakout may be imminent.”

Assay results for the Cantoo project are pending, according to an investor report for September of 2023, and the company is also expecting the results of some field samples on the project. The company has a drill program planned for Q3 and Q4 of this year for the Harry Project.

Ownership and Share Structure

Reuters provided a breakdown of the company’s ownership and share structure, where management and insiders own 13.07% of the company. According to Reuters, Frank Giustra owns 9.83% of the company with 10.71 million shares, Executive Chairman Robert John McLeod owns 2.16% of the company with 2.36 million shares, CFO Susan Marie Neale owns 0.67% of the company with 0.73 million shares, director Jessica Van Den Akker owns 0.30% of the company with 0.33 million shares, and CEO and director Morgan Lekstrom owns 0.11% of the company with 0.12 million shares.

According to Reuters, institutions own 5.58% of the company, as Crescat Capital LLC owns 4.66% of the company with 5.08 million shares, and US Global Investors, Inc. owns 0.92% of the company with 1.00 million shares.

According to Reuters, there are 108.96 million shares outstanding, with 94.7 million free float traded shares. Reuters reports that the company has a market cap of CA$17.66 million and trades in the 52-week period between CA$0.19 and CA$0.49 million shares.

Important Disclosures:

1. Blackwolf Copper and 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 and Gold Ltd.
3. Amanda Duvall wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
4. The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

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