Mining Company Discovers 29,098 g/t Silver Equivalent and More

Blackwolf Copper and Gold Ltd. (BWCG:TSX.V) has announced in a press release that it has received the assay results taken from the Harry project’s Swann zone. The report included several large, high-grade gold (Au) and silver (Ag) results.

Morgan Lekstrom, the CEO of Blackwolf, stated, "I extend my sincere congratulations to our entire team of this remarkable discovery . . . We are not only thrilled by the exceptional high-grade nature of this discovery but also the tremendous value it holds for our shareholders."

The highlights of the drilling included the discovery of 29,098 grams per tonne (g/t) Ag equivalent, or 312 g/t Au and 101 g/t Ag between depths of 139m and 140m across 1m, and 25,862 g/t Ag equivalent, or 277 g/t Au and 118 g/t Ag between depths of 199m and 200m across 1m.

The Independent Speculator provided a guide to mining grades, where it stated that more than 8.0 g/t Au is considered high grade, and over 350 g/t Ag is considered high grade.

Robert McLeod, the Executive Chairman of Blackwolf, commented, "Growing up in nearby Stewart, B.C., and being part of a family with a long lineage of mining and exploration in the Golden Triangle, I have an appreciation for the rewarding nature of gold discoveries. These Early Jurassic systems often host deposits of exceptionally high grade, analogous to those found in BurceJack, which can be successfully mined at these exceptional grades and widths as well as the upper levels of the historic Premier mine, the richest gold mine in North America during the 1920s."

Gold Prices at US$1,990 per Ounce

Stockhead provided a look at the gold market as of October 27, 2023, which it believes is still going strong and may be bolstered by the development of artificial intelligence. According to the report, the price of gold is approximately US$1,990 per ounce, and is extremely close to record prices again.

This is in part due to growing uncertainty and world conflict but it is also being driven by new technology.

"The thesis there is that a boom in demand for AI applications creates a boom in demand for the chips and components that help power the tech- a boon for manufacturers such as Nvidia, but also for precious metals producers," the report stated.

Potential 139% Return for Investors

Red Cloud Securities reviewed the company on October 3, 2023, where they rated the company as a "buy" and named a target price of CA$0.55, which represents a possible 139% return for investors. The report described the location of the company’s projects in the lucrative Golden Triangle, as well as the company’s previous high-grade finds as drivers for the company’s share price.

In June, the company was reviewed by Couloir Capital, which also rated it as a "buy" and named a target price of CA$0.59, indicating a significant increase in the company’s value between this summer and October.

According to Couloir, "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."

Ownership and Share Structure

Reuters provided a breakdown of the company's ownership and share structure, where management and insiders own approximately 4.55% of the company. According to Reuters, Executive Chairman Robert John McLeod owns 1.92% of the company with 2.36 million shares, CFO Susan Marie Neale owns 0.60% of the company with 0.73 million shares, Director Jessica Van Den Akker owns 0.27% of the company with 0.33 million shares, and CEO and Director Morgan Lekstrom owns 0.12% of the company with 0.14 million shares.

Institutions own about 4.97% of the company, Reuters reports. They revealed that Crescat Capital, LLC, owns 4.15% of the company with 5.08 million shares, and U.S. Global Investors, Inc. owns 0.82% of the company with 1.00 million shares.

Frank Giustra, a strategic investor, owns 13.02% of the company with 15.96 million shares, according to Reuters.

Reuters also stated that there are 122.56 million shares outstanding, with 101.07 million free-float traded shares. It has a market cap of CA$18.98 million and trades in the 52-week period between CA$0.19 and CA$0.49, Reuters reports.

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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