In a recent interview on Stijn Schmitz's channel, Stocks on Tour, Patrick Chidley, the Executive Chairman of Gemdale Gold Inc., provided a compelling update on the company's pre-IPO gold exploration endeavors in Finland. Chidley's insights into their flagship Pontio project and broader strategic vision paint a picture of a company on the verge of potentially unveiling a significant gold discovery in a premier European mining jurisdiction.
Chidley, a respected figure in the precious metals arena, articulated Gemdale Gold's focused approach to exploration within Finland, highlighting the country's favorable mining environment. "We've been operating in Finland only in Finland for about eight years now as a private company, and we've made tremendous progress mainly on our gold projects," Chidley stated, emphasizing the company's deep commitment to the region.
Pontio Project: Laying the Groundwork for a Major Discovery
The central focus of the interview was the Pontio project, located in Western Finland, an established mining district with robust infrastructure. Chidley expressed considerable optimism about its potential to become one of the largest gold deposits in the country. "The 18-month target is to be in a position to declare that first maiden resource on this, and at that stage, we think that we'll already have one of the largest gold deposits in Finland," he confidently asserted.
Analysts note that Chidley's emphasis on the extensive four-kilometer strike length of the Pontio mineralization trend is particularly noteworthy. "The Pontio deposit... It's a big, big system of gold mineralization," Chidley explained. "The main trend that we've been drilling is only one of several parallel trends... the M2 trend is the one that we've been focused on because it's been the one where we've got the most, the best results so far."
Chidley underscored the strategic benefits of operating in Finland, citing the existing infrastructure and supportive mining environment. "We're actually in a mining district, an existing established mining district in western Finland, so there are several mines around us, there's roads, rail, power – so it's got all of the facilities that you'd expect in a world-class, world Tier-One mining jurisdiction," he elaborated. This established infrastructure could significantly streamline any future mining operations.
Bulk Mining Potential and Near-Surface Resource
A key aspect of the Pontio project's appeal, according to Chidley, is the consistent, near-surface gold mineralization, making it a prime candidate for bulk mining. "We've just scratched the surface on this deposit, so we've drilled it down to about a maximum of about 140 meters deep, but we think it's going to continue to great depths," he noted. This shallow nature of the deposit could translate to lower extraction costs in the future. While acknowledging the generally low-grade nature, Chidley also pointed out the presence of higher-grade sections within the deposit. "We've got definitely in the deposit... There are sections of the deposit that are, you know, relatively good grade, so two, three grams," he clarified.
Beyond Pontio, Gemdale Gold possesses a portfolio of other promising assets, including the high-grade Iseneva gold project. Chidley highlighted the company's unique position of owning 100% of all their projects without any external third-party royalties. "We own 100% of all our projects, we don't have any external third-party royalties on any of the projects as well," he stated, emphasizing a significant advantage over some competitors. The company intends to seek a partner for the Iseneva project to allow for a focused advancement of its flagship Pontio asset.
Looking Ahead: Drilling and Resource Declaration
Chidley outlined the company's immediate plans, which involve an imminent financing round followed by an extensive 6,000-meter drill program at Pontio. "Very soon, we intend to complete the financing. As soon as we've done that, as soon as the money's in, we will contract a drill contractor and begin drilling on our project in Pontio," he detailed. The goal is to complete this drilling within the next 18 months, culminating in the declaration of the maiden resource.
Industry analysts suggest that Gemdale Gold's strategic positioning in a Tier-One jurisdiction, coupled with the promising early-stage results from the Pontio project, makes their pre-IPO exploration efforts particularly compelling. Chidley's confident tone and clear roadmap for the next 18 months indicate a potentially transformative period for the company as they work towards unlocking the full potential of their Finnish gold assets.
Watch the full interview:
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