According to an article on Motherlode TV, Enforcer Gold Corp. (TSXV:VEIN) has a strong management team that knows when to cut its losses. After receiving some promising assay results situated in a discouraging distribution pattern, Enforcer Gold decided to terminate their interest in the Montalembert gold project in Quebec in August.
“Although we had some spectacular assays come in, we didn’t get the results we had hoped for. The extreme nuggety gold distribution at Montalembert was a huge disappointment and the only logical course of action was to cut our losses, let it go and move on,” said Enforcer Gold President and CEO Steve Roebuck in his September 1 letter to shareholders.
In September 2017, Enforcer Gold looked for a second project to round out their property portfolio and settled on the Roger gold-copper project which is five kilometers north of the historic mining centre of Chibougamau, Quebec. The property was being considered as a prime spot for a winery in the early 1980s, but was turned into a mining operation instead. After SOQUEM acquired the property, they were able to develop a 2006 resource estimate of 166,700 ounces gold.
Enforcer Gold has recently released an updated resource for the property that contains an inferred resource of 365,000 ounce of gold equivalent and an indicated resource of 377,000 ounce of gold equivalent. The company will be quickly moving into the next phase of its fully-funded exploration program.
“These results have surpassed our best expectations. We were optimistic that the updated resource estimate would be a significant milestone for the Company, but this new estimate is not only a marked increase in the size of the resource, it is also a very significant boost in confidence level with over 50 percent in the Indicated category,” said Roebuck.
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