4 Golden Reasons To Buy KORE Mining (TSX.V:KORE|OTCQB:KOREF)

By Richard Mason


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There are 4 golden reasons to buy KORE Mining Ltd (TSX.V:KORE|OTCQB:KOREF).

Its 4 district-scale gold projects.

Each of these is a company maker in its own right – Imperial and Long Valley in California and FG Gold and Gold Creek in British Columbia

This portfolio is so strong that it has attracted substantial backing from some of the mining world’s most successful investors.

Most recently, Eric Sprott massively increased his personal holding, by directly investing C$7.5 million at C$1 a share.

In Sprott’s words he believes “KORE (TSX.V:KORE|OTCQB:KOREF) is extremely under-valued” and has positioned himself as the firm’s largest shareholder, with a total investment of C$12 million in just 10 months!

But fear not. You still have a chance to follow Sprott’s lead.

Although KORE (TSX.V:KORE|OTCQB:KOREF) has already rocketed 500% in just three months, this stockhas much more left in the tank.

KORE (TSX.V:KORE|OTCQB:KOREF) is on the verge of becoming this year’s biggest breakout star. 

And the value case is so simple.

It all begins with gold ounces in the ground.

KORE (TSX.V:KORE|OTCQB:KOREF) already has 2.5 million ounces of gold in the most valuable Measured and Indicated categories, with a further 2.4 million Inferred ounces*.

This is a very large resource for a company this size and there is a tremendous amount of exploration promise still to come.

At its flagship Imperial Project this company has one of the most attractive drilling opportunities around. 

“Imperial ranks right up there with top-tier projects in the US developer space,” says CEO Scott Trebilock. 

Rival explorers with inferior assets have regularly reached C$200m market caps, without too much problem.

Especially in these incredibly bullish conditions.

KORE (TSX.V:KORE|OTCQB:KOREF) is currently valued at about C$150 million. With high impact drill campaigns planned throughout the rest of 2020, the returns could be spectacular.

Reason One To Buy KORE Mining (TSX.V:KORE|OTCQB:KOREF) – The First-Rate Imperial Gold Project

Is Imperial the reason why investors have now seen the light at KORE (TSX.V:KORE|OTCQB:KOREF)?

The California project is just nine miles from the Mesquite open-pit heap leach mine owned by fellow Vancouver gold producer Equinox Gold (now trading at $15).

Equinox, a joint TSX and NYSEA-listed miner, has produced an average of 130,000oz of gold for the last 10 straight years, at an average cost base of US$975 per oz. With spot gold prices now at eight-year highs over, US$1,750 per oz., this is a massive money-spinner.  

But KORE (TSX.V:KORE|OTCQB:KOREF) has an even better set of numbers to show you. 

Imperial is a near-surface 100% oxide gold deposit, 2.44km long and 0.75km wide, hosted in a shallow dip. 

Because the gold is so close to surface, it can be mined relatively cheaply from an open pit. 

Investors love gold projects with strong economics. 

Imperial has a low Cap Ex requirement of just US$143 million, delivering an NPV of US$343 million.

Better yet, this base case is built a conservative US$1,450/oz. gold price, far below what an ounce now fetches on the open market. 

Imperial is expected to produce 1.2 million ounces of gold over an 8-year life of mine and produce a 44% IRR.

This is one of the major reasons, KORE (TSX.V:KORE|OTCQB:KOREF), with further exploration planned to build on Imperial’s impressive gold resource, the blue-sky upside is crystal clear.

Reason Two To Buy KORE Mining (TSX.V:KORE|OTCQB:KOREF) – High Impact Drill Campaign Under Way At The FG Gold Project.

Up in the Cariboo region of British Columbia, Canada, the FG Gold Project is an appetizing mix of high and low-grade gold ribbon veins.

KORE (TSX.V:KORE|OTCQB:KOREF) has embarked on an ambitious drill campaign here, aiming to add a substantial number of new ounces of gold to the company’s already mushrooming resource.

Guess what?

It’s easy access. No surprise there. This is entirely in keeping with KORE’s (TSX.V:KORE|OTCQB:KOREF) strategy and investors get the added benefit of $15m already spent on exploration with 51,000m drilled here historically. 

The Main Zone gold resource extends across a 3km strike length. Not only is there an extra 10km of underexplored strike length, but also a new discovery in January 2019 called Nova Zone offers a lot of potential.

2018 drilling here revealed individual gold values as high as 7.8g/t gold and 3.03% copper. 

Drill core sample from FG Gold Project

The sheer scale of the FG Gold Project should not be missed either.

Covering 13,008 hectares it is a monster in the making. As the drill results start to roll in, in the second half of 2020, expect to see this venture drive KORE’s (TSX.V:KORE|OTCQB:KOREF) even higher.

Reason Three To Buy KORE Mining (TSX.V:KORE|OTCQB:KOREF) – Long Valley, An Important Gold Project In Its Own Right

Valley is ranked #3 in reasons to buy this company.

This project is a company maker in its own right!

Sitting just across the California desert from Imperial, Long Valley is a near surface gold-silver deposit, 2.5km long, with an excellent 79% oxide metallurgy. 

The map below shows the extent to which oxide mineralization covers the project area.

The project boasts just over 1.7 million ounces of indicated and inferred gold, at US$1,500/oz.

There’s big potential for expansion too — laterally in gold and silver oxides and deeper in sulphides. 

US highway 395 passes just a couple of miles from two nearby towns, cutting transportation costs and boosting value.

Mineralization is 50ft to 200ft thick in parts and in the south, exposed at the surface.

Noticing a trend here?

Long Valley covers 752 hectares, across 95 contiguous unpatented claims, with shallow gold targets. Further work here over 2020 and 2021 could see this become KORE’s (TSX.V:KORE|OTCQB:KOREF) next low-cost, high NPV asset in its portfolio.

Reason Four To Buy KORE Mining (TSX.V:KORE|OTCQB:KOREF) – Another District Scale Gold Exploration Opportunity At Gold Creek.

Gold Creek comprises 34 claims across 9,673 hectares of land, with high-grade gold bearing quartz veins.

Gold Creek is serviced by well-developed infrastructure, all-weather gravel roads — easy access, again — just 2km from the historic centre of Likely, a boom town at the heart of British Columbia’s original 1860s Gold Rush. 

150 years ago, the Cariboo Gold Rush began in earnest. American, British and Canadian explorers all raced to exploit massive new gold deposits found near the surface. But the distances and times involved in travel, and the remoteness of the country, hampered exploration. 

Today, Gold Creek lies just 70km from Williams Lake, a major regional centre with a large airport and railway. 

This project has a great deal of exploration potential, with broad zones of mineralization identified from historic drilling.

Most exploration companies have one flagship project. Some have two. Hardly any have millions of ounces of gold in their portfolios already.

Not only does KORE Mining (TSX.V:KORE|OTCQB:KOREF) have four great projects on its books with gold resources in the ground, it also has immense exploration upside.

With the gold price soaring and plenty of news to come, the share price breakout looks set to continue well into 2021.

*Footnote: KORE consolidated resource with Qualified Persons:

5.6 million tonnes @ 0.81 g/t measured = 145,000 ounces

122 million tonnes @ 0.60 g/t indicated = 2,355,000 ounces

142 million tonnes @ 0.54 g/t inferred = 2,457,000 ounces

“Amended Technical Report and Resource Estimate for the Long Valley Project, Mono County, California, USA” effective date Dec 18, 2019. Neil Prenn, P.E. and Steven I. Weiss, C.P.G. of Mine Development Associates.  Oxide cut-off 0.17 g/t.  Transition and sulphide cut-off 0.21 g/t.

“NI43-101 Technical Report, Frasergold Exploration Project, Cariboo Mining Division, BC” for Eureka Resources Inc. dated July 20, 2015 by K.V. Campbell of ERSi Earth Resource Surveys Inc. and G.H. Giroux of Giroux Consultants Ltd.

“Preliminary economic Assessement – Technical Report Imperial Gold Project” effective as of April 6, 2020 and issued on May 19, 2020 by Terre Lane and Todd Harvey of Global Resource Engineering and Glen Cole P. Geo of SRK Consulting (Canada) Inc.


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Author: Richard Mason

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Digitonic Ltd, the owner of ValueTheMarkets.com, does not hold a position or positions in the stock(s) and/or financial instrument(s) mentioned in the above article.

Digitonic Ltd, the owner of ValueTheMarkets.com, has not been paid for the production of this piece by the company or companies mentioned above.

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