The KE Report

In this Company Update, Cory chats with Mike Burke, Director and Vice President of Corporate Development at Sitka Gold (TSX-V: SIG | OTCQB: SITKF | FSE: 1RF). Mike walks us through the recent completion of the company’s 60,000 meter, 2026 exploration campaign at the flagship RC Gold Project in Yukon, detailing the scale of the program, what visual indicators are showing in the core, and what investors should anticipate as substantial assay flow begins.

Completion of the 60,000-Meter Campaign: With 149 diamond drill holes wrapped up, discover the operational execution behind Sitka’s largest exploration season to date and the timeline for releasing the remaining backlog.

Massive Assay Backlog Pending: Over 30,000 meters across 90 drill holes are currently awaiting laboratory assays, representing significant potential news flow heading into year-end.

High-Grade Expansion vs. Infill Focus: 80% focus on step-out drilling aims to grow the known footprint across Blackjack, Saddle, Eiger, and newly tested targets toward an updated mineral resource estimate targeted for Q1 2027.

Geological Drivers and Lamprophyre Dikes: Mike highlights key structural observations from the drill core, including visual gold mineralization and what the repeated association with extensional lamprophyre dikes reveals about the larger system.

Strengthening Board Leadership: An introduction to new Chairman of the Board Tim Termuende, his background building exploration value, and how his expertise aligns with Sitka's evolution beyond exploration toward advanced project development.

 

If you have any follow up questions for the team at Sitka Gold please email me at Fleck@kereport.com. 

 

Click here visit the Sitka Gold website to learn more about the Company - https://sitkagoldcorp.com/

 

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For more market commentary & interview summaries, subscribe to our Substacks: 

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Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this Company Update, Cory is joined by Mike Spreadborough, Executive Co-Chairman, and Rohan Williams, General Manager of Exploration, at Novo Resources Corp. (TSX: NVO | ASX: NVO | OTCQX: NSRPF). The discussion focuses on the recent milestone updates from the Tibooburra Gold Project in New South Wales, detailing upcoming drill programs, farm-in progression, and regional exploration initiatives:

Upcoming RC Drill Program at the Clone Prospect: How Novo is preparing to kick off an imminent 2,700-meter reverse circulation (RC) drill program following up on previous high-grade intercepts.

Step-Out Potential and Exploration Depth: Insights into testing down-plunge continuity, targeting mineralized plunge extensions down to 160 meters, and assessing analogies to high-grade Victorian goldfields.

Regional Pipeline and First-Principles Targeting: A look at how extensive stream sediment, soil sampling, and rock-chip surveys across the 22-kilometer strike are shaping air-core drill targets for next year.

Joint Venture Farm-In Milestone: Key operational and management shifts following Novo's earn-in to secure an initial 70% interest in the joint venture.

Project Timelines and Upcoming Catalysts: What investors should anticipate regarding drilling turnaround, pending soil assay releases, and long-term planning for 2027.

 

Please email me with any follow up questions for Mike and the team at Novo Resources. My email address is Fleck@kereport.com.  

 

Click here to visit the Novo Resources website to learn more about all the projects and exploration programs - https://novoresources.com/ 

 

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For more market commentary & interview summaries, subscribe to our Substacks: 

The KE Report: https://kereport.substack.com/ 

Shad’s resource market commentary: https://excelsiorprosperity.substack.com/

 

Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Jon Gilligan, President and CEO of Liberty Gold (TSX:LGD; OTCQX:LGDTF), joins me for a comprehensive review of the key metrics from the Feasibility Study released on September 8th, as well as updates on metallurgical testing, engineering work, and the permitting roadmap; with a move towards a construction decision in 2 years at the open-pit, heap leach Black Pine Gold Project in the Great Basin in southeastern Idaho.

 

On February 10, 2026 the Company announced an update to the independent Mineral Resource Estimate (the “MRE”) for Black Pine:

Indicated Resourceof 502.7 million tonnes (“Mt”) at an average grade of 0.30 g/t Au totalling 4,882,000 ounces (“oz”) Au; and

Inferred Resource of 157.1 Mt at an average grade of 0.21 g/t Au totalling 1,050,000 oz Au.

 

2026 Black Pine Feasibility Study Highlights:

 

Large-scale production: 16-year mine-life with an average annual payable production of 202,000 oz Au in Years 1-5, at an average grade of 0.35 grams per tonne gold (“g/t Au”), including peak annual production of 277,400 oz Au in Year 5; and average annual payable production of 176,700 oz Au over life-of-mine (“LOM”), including peak LOM annual production of 294,600 oz Au in Year 13.

Probable Mineral Reserve containing 4.04 million oz Au: 433.3 million tonnes at a grade of 0.29 g/t Au, supporting the planned 16-year mine-life.

Capital-efficient development: The Project has an estimated initial capital cost of $411.4 million for a conventional ROM open-pit heap-leach operation. The ratio of the Project’s base-case after-tax Net Present Value (“NPV”)(5%) to initial capital ratio is 5.8.

Competitive operating costs projected: LOM cash costs and all-in sustaining costs (“AISC”) of $1,388/oz Au and $1,566/oz Au, respectively.

Robust projected Project returns: At the base case gold price of $3,250/oz Au, the Feasibility Study estimates an after-tax NPV(5%) of $2.397 billion, after-tax Internal Rate of Return (“IRR”) of 60.5% and after-tax payback of initial capital of 2.0 years for the Project.

Black Pine generates strong projected economics across a broad range of gold prices: At $4,500/oz Au, the Project is estimated to generate an after-tax NPV(5%) of $4.336 billion (IRR of 104.3%) with a payback of 1.2 years. At a lower gold price, of $2,500/oz Au, the Feasibility Study continues to project positive economics, including an after-tax NPV(5%) of $1.215 billion (IRR of 33.4%) with a payback of 3.4 years.

 

On March 23, 2026 the Company announced that a coordinated federal and state permitting schedule has been posted to the United States government permitting dashboard, pursuant to the U.S. Federal Permitting Improvement Steering Committee Council FAST-41 federal permitting framework, which provides transparency on permitting milestones and timelines.

 Initial stages of permits will arrive in late 2027, with the final record of decision expected in Q1 2028. At that point construction will begin.

 

Having the F.S. in hand allows for discussions to assemble the capital stack of debt / equity / royalty & streaming; which will be decided upon in H1 2027. 

 

Click here to follow the latest news from Liberty Gold

 

 

If you have any questions for Jon regarding Liberty Gold, the please email me at Shad@kereport.com.

 

In full disclosure, Shad is a shareholder of Liberty Gold at the time of this recording, and may choose to buy or sell shares at any time.

 

 

For more market commentary & interview summaries, subscribe to our Substack reports:

 

The KE Report: https://kereport.substack.com/

Shad’s resource market commentary: https://excelsiorprosperity.substack.com/

 

 

Investment disclaimer:

This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this Daily Editorial, hosts Cory and Shad chat with Dave Erfle, Founder and Editor of The Junior Miner Junky, to examine the ongoing correction across the precious metals complex. With crucial monthly closes approaching and major macroeconomic catalysts on deck, Dave breaks down technical inflection points, sector divergences, and disciplined positioning strategies for mining equities.

Crucial Technical Levels for Gold and Silver: Dave details key downside triggers in the futures markets, identifying what a monthly close below key support could mean for a deeper stop run.

Historical Cycle Analogs: A comparison between current price action and the 2008 correction, highlighting how structural similarities offer clues for the next macro leg.

Divergence in Gold Stocks and Producers: Why select mining equities and producer ETFs are exhibiting relative resilience compared to past cyclical corrections.

Q3 Earnings and Cost Inflation Pressures: How rising all-in sustaining costs (AISC) and shifting margin profiles are impacting producer valuations during earnings season.

Disciplined Capital Allocation & Portfolio Strategy: Dave shares his tactical framework for scaling into high-conviction plays, managing cash reserves, and taking programmatic profits into strength.

 

Click here to visit the Junior Miner Junky website to learn more about Dave’s investment letter - https://www.juniorminerjunky.com/

 

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For more market commentary & interview summaries, subscribe to our Substacks: 

The KE Report: https://kereport.substack.com/ 

Shad’s resource market commentary: https://excelsiorprosperity.substack.com/

 

Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this Company Update, we sit down with Colin Padget, President, CEO, and Director of Founders Metals Inc. (TSX-V: FDR | OTCQX: FDMIF | FRA: 9DL0). Colin provides an in-depth look at ongoing exploration across the Antino Gold Project in Suriname, detailing recent high-grade drill results, regional expansion targets, and the strategic road ahead.

Discussion highlights include:

High-grade continuity at the Froyo Zone: An overview of standout intercepts at depth and how step-out drilling is expanding the scale of high-grade mineralization down dip.

Connecting targets across Upper Antino: How ongoing step-outs to the east are systematically testing structural continuity between Froyo and the Donut target.

Scale and orientation of the West Zone: Early impressions from recent discovery holes across strike and what this broad footprint signals for the larger system.

Advancing regional targets across the property: A status check on drilling activity and pending assays from Antino North, Antino Northeast, and Maria Geralda.

Expanded drill meterage and newsflow expectations: Insights into total expected drilling by year-end and what investors can anticipate regarding the upcoming cadence of results.

Exploration focus versus resource delivery: The strategic reasoning behind prioritizing footprint expansion and discovery drilling over an early maiden mineral resource estimate.

Strategic backing and treasury strength: How substantial investment from Gold Fields fuels ongoing exploration across the district.

 

If you have any follow up questions or topic you would like Colin to address please email us at Fleck@kereport.com or Shad@kereport.com. 

 

Click here to visit the Founders Metals website - https://www.fdrmetals.com/

 

------------------------

For more market commentary & interview summaries, subscribe to our Substacks: 

The KE Report: https://kereport.substack.com/ 

Shad’s resource market commentary: https://excelsiorprosperity.substack.com/

 

Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.