We are pleased to provide you with an update following Edgemont Gold’s five-day visit to the Laiva Gold Mine in Finland. As previously announced, Laiva Gold has signed a letter of intent with Edgemont for a planned stock exchange listing via an RTO and is currently working diligently to finalize the definitive agreement.
The visit, led by John Williamson and supported by advisors Gregory Sparks (GBS PE Minerals Industry Consulting) and Michael DuFresne (APEX Geoscience), represents significant progress in the due diligence process for the restart of the Laiva Gold Mine.
Here are the key results from the site visit:
Refinement of the Resource Model:
– APEX Geoscience is actively working on an updated technical report in accordance with NI 43-101. This report includes the latest drilling data, including crucial grade control drilling.
– The visual development of the resource model, showing the transition from initial exploration data to the more detailed representation resulting from grade control drilling, is highly encouraging and indicates the potential for a more accurate resource assessment.
Operational Optimization:
- Gregory Sparks’ expertise in grade control and mining optimization, gained through his previous involvement in the project, is crucial for developing a robust operational strategy.
- A main focus is on eliminating previous operational inefficiencies that arose from not implementing his earlier recommendations due to financial and time constraints.
- This proactive approach aims to create a more efficient and profitable mining operation.
Exploration Upside Potential:
- The evolving resource model indicates promising exploration potential near the mine.
- This suggests the possibility of expanding the existing resource base within the current mining plan, potentially leading to an extended mine life.
Collaborative Planning
- Edgemont Gold’s “comprehensive approach” and collaboration with the Laiva Gold team are crucial for developing a comprehensive execution plan.
- The goal of this partnership is to align operational strategies and leverage the combined expertise of both teams.
We are confident that the progress made during this visit represents an important step towards a successful restart of the Laiva Gold Mine. We will continue to keep you updated as we move forward in this process.
Best regards,
Max Beck | Head of IR Department
Max.Beck@LaivaGold.com
Edward Balme | IR Manager
Edward.Balme@LaivaGold.com
