Enforcer Delivers Gold Results
Enforcer Gold (VEIN-V) formerly known as Natan Gold released extraordinary results in January from a channel sample program conducted in October 2016 on their Montalembert gold project in upper Quebec. The company took 208 channel samples averaging .97 meters. Assays varied from nil to 438.23 g/t gold over 1 meter.
The project is a high-grade narrow vein system with a lot of visible gold and free gold. As such, the assays will show a wide range of results. Since random samples will not reflect average values especially with coarse free gold, the company resampled the material using metallic sieve analysis rather than the original fire assay first used. Results were released on Friday March 31, 2017. The metallic sieve results were higher in seven of the nine channel samples tested showing results of 510.79 g/t, 118.79 g/t and 108.21 g/t gold in the three highest values.
Enforcer Gold has an agreement with Globex Mining on the project that calls for an option to purchase 100% of the property for cash payments of $2.7 million over three years, the issuance of 8.5 million shares to Globex and exploration of $15 million on the project over five years. Globex also has a 3.5% gross metal royalty after a 6% GMR on the first 150,000 ounces of gold and silver recovered.
While the terms may seem steep, the mineralization begins at surface and clearly is high grade. Enforcer is well cashed up with $6 million dollar raised in 2016. The company has budgeted $2.2 million for exploration in 2017.
High-grade narrow vein systems can be a bitch. You may well know you have gold but trying to determine grade through assays is little more than rolling dice. The only way to correctly measure grade is to do a bulk sample, the bigger the better. Since the veins are pretty much vertical at Montalembert you could do a bulk sample with a pick ax but an excavator and some ANFO would be a lot faster.
Enforcer is a young company and as such will have growing pains. They have done an adequate company presentation available through their website but the site needs work.
An important axiom of the Internet is a fixed rule that you don’t make your readers jump through hoops. Clicking on the link to go to the companies’ home page gives the reader a page where they are forced to pick either an English site or a site in German. I’m not anti-German websites, for all I know 96% of their investors are German. Whichever site is most important should be dominant. The home page should allow an alternative site in the other language. Enforcer will lose half their potential readers without such a change. On any website, you lose 50% of your readers every time you make them click.
On the 2nd home page in the language selected on the 1st home page there is an option that says GET THE SCOOP WITH OUR LATEST PRESS RELEASES. Alas clicking on that link takes the reader to an error page. With news releases as important as the one released on Friday last, it’s vital that interested investors be able to find it and right now they can’t. Whoever is doing the website either needs to come up to scratch or be replaced.
I was a participant in their latest private placement and Enforcer is an advertiser. Naturally that gives me a bias so you need to take responsibility for your own due diligence.