Company description

EGR Exploration Ltd. (EGR.V) is a mineral exploration company focused on exploration for gold in the Detour-Fenelon Gold Trend, approximately 300 kilometers north of Timmins, Ontario. It’s flagship Detour West gold project is directly on strike with Agnico Eagle’s property which contains the giant Detour Lake Gold Mine and is located approximately 20 kilometers from the mine itself, which is hosted in the Abitibi Greenstone Belt just like EGR’s project. The company is targeting gold deposits associated with the potential extensions of the Detour-Fenelon trend structures onto the Detour West property. EGR also holds the Urban Barry property in Quebec, which is also located onto the Abitibi Greenstone Belt, and directly adjoins Osisko Mining’s Windfall deposit (4Moz Au).

EGR Exploration is led by CEO Daniel Rodriguez. Daniel has a financial background, and entered the junior mining space as the former VP of Corporate Development at Warrior Gold in 2020, and has over 14 years of capital markets and financial service experience. Previously, he was a manager at CIBC, and advisor at RBC and Jordan Capital Markets, with a focus on the junior mining sector. He holds a BA from the University of Toronto. He is assisted by CFO Mark T. Brown, who is a household name in the Vancouver mining scene, and is the President of Pacific Opportunity Capital, which is a financial consulting and merchant banking firm active in venture capital markets in North America. Mark has over 25 years of executive management experience in the mining sector.  His corporate activities include merger and acquisition transactions, financing, strategic corporate planning, and corporate development. Mark received a Bachelor of Commerce Degree from the University of British Columbia in 1990 and is a member of the Institute of Chartered Accountants of British Columbia. Mr. Brown was the controller of two operating gold mining companies (Miramar Mining, Eldorado Gold) with operations in northern Canada and South America. He was one of the founders of the very successful rare earth company Rare Element Resources. Currently, Mr. Brown is an officer and director of a number of public and private companies besides EGR, as he is for example CFO of Gold Terra Resource, Copper Fox Metals, Adamera Minerals and Fjordland Exploration, and Chairman of Avrupa Minerals and Alianza Minerals.

Daniel and Mark are assisted by an impressive group of geologists and prospectors, as there are Rafael Vaudrin, the senior project geologist of Skeena Resources, Dusty Nicol, with 45 years of experience and multiple gold and copper deposit discoveries under his belt, Bernie Kreft who runs an exploration and development company and owns over 75 projects in Canada, Robert Cameron, a geologist with 40 years of experience and President and CEO of Commander Resources, and Brian Atkinson who also has over 40 years of experience as a geologist, primarily for the Ontario Geological Survey in Red Lake and Timmins.

The 100% owned flagship Detour West project is 39,217 ha in size and located approximately 300 km northeast of Timmins and 185 km northeast of Cochrane by road in the northwestern part of the Abitibi Greenstone Belt within the southern part of the Superior Province in Ontario. The Detour West Property is located approximately 20 km west of the open-pit Detour Lake Gold Mine acquired by Agnico Eagle Mines in February 2022 and directly adjoins the holdings of Agnico Eagle. The project is in fact the last, most western project in a string of gold projects/deposits/mines along the 160km long Detour-Fenelon trend. Gold mineralization at the giant Detour Lake Gold Mine, the largest gold mine in Canada, is characteristic of greenstone-hosted orogenic lode gold style deposits. The Detour Lake Gold Mine produced 712,824 ounces of gold in 2021 and has proven and probable mineral reserves of 20.4Moz (835.1 Mt at 0.76 g/t gold) as of July 2022. The Detour Lake area comprises thick sequences of mafic to ultramafic volcanic rocks in structural contact to the south with younger sediments. This contact is characterized by a deformation zone referred to as the Sunday Lake Deformation Zone (SLDZ). The structures of the SLDZ are spatially related to most of the gold mineralization observed in the Detour Lake area. Exploration work on the Detour West Property by previous operators appears to indicate that the property may contain previously underexplored and unrecognized extensions of the Sunday Lake, Massicotte and Lower Detour deformation zones that host the adjacent Detour Lake gold deposit, and this is where the big prize could be for EGR.

The other project is the 100% owned 10,762ha Urban Barry property, located in the James Bay region of Quebec in the Abitibi  Greenstone Belt, which is host to the nearby Windfall gold  deposit that holds nearly 4Moz Au (Indicated and Inferred resources).  The  Langlois  base  metal-silver-gold  mine  is located  approximately 30 km to the northwest. From  November  2019  to  March 2020, the predecessor of EGR Exploration flew an airborne drone magnetic geophysical survey over the property. Results from this survey confirm the presence  of the northwest extension of rock units and  fault structures hosting the nearby Windfall  gold deposit. EGR is currently reviewing all historical data on its Urban Barry property and is in the process  of planning future field programs or options with the property.

The current cash position is about C$500k, which means EGR will be able to set up several field programs (sampling, mapping, geophysics) for Detour West , and management estimates a new raise somewhere in Q2, 2023. The exploration plan for Detour West consists of flying a high resolution airborne and interpretation and drill targeting in Q2, 2023. This will be followed up by investigating outcroppings from Lidar data in the summer, and by drill permitting in Q3 2023. After this site preparation will be done, and the highly anticipated drilling is planned to commence in Q4 2023.

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