Categories: Precious Metals
Topics: Gold Stocks

Trident Resources (TSX-V: ROCK)(OTC: TRDTF) CEO Jonathan Weisblatt on 7.28 g/t Au Over 15.0m Including 16.69 g/t Au Over 6.0m as well as 4.43 g/t Au Over 39.5m at the Contact Lake Gold Project

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of Trident Resources (TSX-V: ROCK)(OTC: TRDTF), Mr. Jon Weisblatt. Jon, congratulations once again. How are you today, sir?

Jonathan Weisblatt: Super excited to be on the show today, Gerardo. Thanks for having us.

Gerardo Del Real: No, listen, last time I had you on, we had record prices in the gold space. Today I have you on, we have record prices in the gold space along with silver. You have phenomenal timing, sir. You just hit 7.28 grams per tonne gold over 15 meters, that included 16.69 grams per tonne gold, over six meters and 4.43 grams per tonne gold over 39.5 meters at the Contact Lake gold project. Congrats are in order. You announced results from 10 holes. You still have assays pending. I would love to get just an overview or a summary of what you've learned about the system, the structures, the controls from this program, and then what comes next, because I see you're gearing up for a pretty aggressive 2026.

Jonathan Weisblatt: Yes. Thanks for that. And let me remind you and the audience that the Contact Lake Gold Mine was a past producer, very high grade pass producer. It produced in the mid-nineties at over six grams per tonne gold. The Bakos Shear Zone, which was really the focus of the fall program, the 7,000 meters, it's yielding very good results from shallow depth. So surface down to about 300 meters where we know that the Cameco operations mine down to. So that's really great.

The first 14 holes of the program, 10 of which have been released, they really focused in on that shallow zone. In hole three, which released in the first batch of results back in November, we really were able to show investors that Cameco didn't find all of the mineralization in that system. So we have found new zones and mineralization, and I'd like to remind you that that was a seven gram over 43 and a quarter meter, which was just a gangbuster hole. We will follow up on hole three in the winter program, and we'll come to that in just a second.

So what's really important here, and what we're learning from the recent release, is hole six and seven are very important because they extend the mineralization towards the northeast or towards the BK3 zone. Those of you that have heard me talking about the Contact Lake mine have heard me talk about BK3, which was an unmined stope in the Cameco workings. They built a drift in the nineties to get to that zone of mineralization. However, they shut the mine down in '98 before they ever got there.

So hole six and seven, extending the mineralization from the main zone all the way out to BK3. So we're just trying to fill that in to show investors to prove to ourselves that that mineralization is not a dead zone, that it carries and continues to the northeast.

The second thing that's important from these results is the depth of hole six and seven at approximately 300 to 350 meters. It proves that that ever important BK3 extension is possible at that depth. So that's the second thing. And then the third thing that's really important from this batch of holes is the first eight or nine holes had no historic drilling in and around this area and it was thought by Cameco to be a dead zone back in the nineties. Our exploration is proving otherwise.

So what we're really doing here is applying modern exploration methodologies to a historic mine and really finding great success. So that's what we've encountered so far with the first 13 holes. The final six holes from the program will show investors some deeper holes well below the known Cameco workings and will really outline the blue sky.

Now, why the deeper holes and the upcoming holes to be released are going to be important is because if you recall from my previous comments on your program and in our marketing materials, Cameco only mined to 340 meters. If you recall, the Seabee Santoy mine, the only mining complex for gold in Saskatchewan, which is about 80 kilometers to the east of us, they have mined down to 1.3 kilometers at the Seabee mine, which is now closed. And the Santoy mine, which is currently in production, mines to 750. It is our belief that these orogenic gold systems, they go down much past the 340 meters that Contact Lake mined to in the nineties, and it is our ambition to prove that there is much more gold below where Cameco stopped.

So that's kind of the importance of this program. The last thing that I will say is you tee it up for us and your audience. We are planning and executing a 10,000-meter winter program, which will follow up on a lot of the great productivity and results from the fall program. And 10,000 meters, to put that into context, is going to be one of the largest drilling programs in the La Ronge gold belt in quite some time, probably in almost 30 years.

Gerardo Del Real: Look, we have historic markets, so it's time to do historic things, right? And there's two types of companies and CEOs. There's the type of CEO and the type of company that just thinks, "Well, look, this tide lifts all boats. Let me just ride the tide." And then there's companies like Trident and yourself that are taking a historic market and making sure you get the absolute most of it. Again, congratulations on the work, but also congratulations on rewarding shareholders with activity and really looking to answers for questions that you've had for many, many years about the project and the systems that you're drilling into. Anything to add to that?

Jonathan Weisblatt: Yeah. I want to add on what you just said. It's very important for Trident, its board of directors, which we just beefed up by the way, adding Tim Termuende as our chairman. I thought I would make mention of that. It's very important to our board. It's very important to our management team to generate alpha in this rising gold environment to our shareholders.

It's one thing to have a gold company in a rising commodity environment where you rise with the tide, as you mentioned. It's another thing to generate alpha, to really go find the highest quality assets and produce the most efficient productivity and generate the greatest returns from those assets. And we think that we have that here in Trident in all of our assets and starting with Contact Lake.

I need to remind investors and your audience that there are two million ounces of gold on our balance sheet without any exploration included in those two million. And the two million ounces is exclusive of Contact Lake. Everything that you're seeing in Contact Lake is over and above the two million ounces. So at an $85, million, $90 million market cap, you're paying a very low valuation for two million ounces of gold for 200 plus million pounds of copper at our Knife Lake project and very little, if in fact nothing for any success at Contact Lake.

The last thing that I would like to say, Gerardo, is that we have $14 million in cash and marketable securities on our balance sheet. Our winter program is fully funded. We're mobilizing rigs as we speak and getting ready to deliver great results to shareholders. So thanks again for having us on your program.

Gerardo Del Real: No, listen, good work. Looking forward to having you back on and looking forward to a very, very exciting 2026. I assume you and the team will be at the Vancouver Resource Investment Conference here coming up?

Jonathan Weisblatt: We absolutely will. We'll be at the VRIC and at Roundup.

Gerardo Del Real: Excellent.

Jonathan Weisblatt: So if anybody would like to come by and say hello at our booth, please feel free to do so.

Gerardo Del Real: Beautiful. See you there, sir. Thank you.

Jonathan Weisblatt: Take care.

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