1911 Gold CEO discusses encouraging True North drilling assays and next steps

Hello, you're watching ProAct. If I'm joined by 1911 Gold CEO Sean Heinrichs.

Sean, good to speak with you. Your latest drilling confirms the model at True North.

How much confidence does that give you as you move towards restarting the mine?

Thanks, Steven. I appreciate the opportunity to give you a debrief on the news releases

morning. Thanks to put things in context. It's hard to get everything out of a news release.

Our underground drill program is everybody knows or if they read the news releases

is aware that started in the fall. We've been very productive. Drilled 12 over 10,000 meters

now underground. We've had a bit of a backlog and getting assays, but now we're starting

to get a pretty steady flow so there should be a lot of updates kind of in the pipeline here.

This particular set of drill holes was really around two specific targets.

These targets were ones that we'd actually identified and discussed this potential bulk

sample slash test mining targets that we could tackle in 2026. Still in the cars for us.

So when we put the drills down in the underground, the first one in particular, the goal there was

to start doing infill drilling on these two targets, both of which also would be, you know,

just if even if we didn't do them as a bulk sample this year would fall into that first year

to two years of production force. Anyways, so these were areas we definitely wanted to get to.

So what does that mean for us? We've got a significant amount of measuring and indicated resource

already in our resource. We call it all indicated in our report because we were not able to

access underground and verify some historical avoids, but there is a significant amount of measured

already in there. And what we need to do to increase that level of measure now is to take our

drill spacing a little tighter between 12 to 15 meters of spacing indicated for us since 30 meters

typically and measured is around that 12 to 15 meters. And that's what this drill program really did.

The hinge vein in particular sits in a different host rock unit and this is starkly known to do

a little bit more pinching and swelling than what you'd find in the GABR or the GABR to

spill a bit more consistent. So this drill program was even more important to see how consistent that

grade was as we completed that infill program. So we were very surprised, pleasantly surprised and

happy. Obviously to find areas that were wider than what was in the previous model. It's not

it's not a complete unexpected item just given the nature of that vein. We actually had some areas

which were narrower. So it's a bit of give and take but mostly mostly getting which was nice.

So for us to give this really strong foundation to proceed with development particularly on these

two target areas. L10 was a second large target for us. Those holes were initially just confirmation

holes areas where the drill spacing was a little bit less than ideal for us to feel confident about

mining them. Now we filled that in. We're now going to proceed to do initial development into the

L10 vein to place a second drill rig in there and complete that infill program. The hinge vein,

though we did complete the infill on it really just because we had the drill it was there.

We were waiting on other areas and it felt like the most productive use of our time in capital.

So that's one we can also now proceed on development and start to look at and we should be breaking

ground into the L10 first just to get a drill rig spates there here in the next three to four weeks

and then following that moving back over to the hinge and starting to development into the lower

part of that and starting to look at actually mining it and that's going to be a big you know

launching point for us this year. So you're planning bulk something and test mining later this

year? Was it the key milestones that investors should watch next? Yeah and look I just for everybody's

I'm using both both phrases. The real difference there is just what we're going to report on

in terms of reconciling to the bulk sample something that we're going to put a nice

ribbon around basically and do a proper grade reconciliation or proper report on recovery through

the mill mining recovery validation of our our plans around mining those areas whereas test

mining is just us getting in there and doing early mining early development in advance of the

full 2027 startup. So both of those are going to produce bull dances for us in the current year

but it's just that first one that we're really going to be disciplined around reporting and

reconciling and going back on for investors. So the key milestones for us obviously is going to be

that initial you know blasting underground first time in over what eight years there's been around

blasts and underground edge through the north we expect that to happen here in the next four to

six weeks. The second big thing is the first stopes pulled out of there those could be development

those could be or down to likely happen a little bit later into late Q2 early Q3 and then continued

progress thereafter we'll start initially with one crew advancing into the one area we'll move that

crew over to from L10 over to hinge and start advancing in that area and then look towards the

third late third quarter early fourth quarter to bring in a second crew and then there's going to be

a logical ramp up and progression of additional crews thereafter we get into 2027 so all of those

are items that we're going to report on and make sure people are aware of our progress are

quarterly reporting even from a financial perspective is not going to include a lot more around

development in advances with perspective developments there's going to be a lot a lot more

information to to look at a review which is some exploration but a lot more around this mine expansion

mine production well Sean I hope you continue to keep us updates of this your progress thank you

very much for taking the time today no problem Stephen thank you very much Sean Heinrichs he's the

CEO of 19 11 gold