Couloir Capital Ltd. Mining Analyst Niall Tomlinson, MSc. Metals and Energy Finance, MSc. Mining Geology, CGeol commented in an April 19 research report that base, critical and precious metals explorer Blackwolf Copper & Gold Ltd. (BWCG:TSX) presents an interesting opportunity for investors as it offers "a core advanced exploration property that contains several targets for further resource expansion, complimented by an exciting new exploration portfolio in a world class mineral district."
Blackwolf Copper and Gold concentrates its efforts mostly on volcanogenic massive sulfide (VMS) projects in south-eastern Alaska, but also has access to several exciting new gold projects in an unexplored area on the U.S. side of the border along British Columbia's Golden Triangle.
The company's Niblack Cu-Au-Zn-Ag project is located on Prince of Wales Island in southeast Alaska. The analyst stated that though the Niblack project has historically produced only relatively small amounts of copper, the company has shown that there are now good prospects for a significant resource at the project as new geological interpretation of untested targets indicate potential for resource growth.
Couloir Capital noted that the company has acquired new Golden Triangle exploration prospects by staking out the Hyder properties. The report said that the three Hyder properties are situated in a previously unexplored slice on the Alaskan side of B.C.'s Golden Triangle region.
The analyst pointed out that even though exploration work is still at a very early stage, the projects are believed to contain several promising geological targets in an area which has historically been known to host world class deposits of both gold and base metals.
Couloir Capital advised that Blackwolf has signaled its intentions to drill test targets at the Hyder properties which if proven successful could drive the total valuation of the company higher.
The research firm stated that it is initiating coverage on Blackwolf Copper and Gold Ltd. with a "Buy" rating and estimates the "Fair Value" of the company's shares at CA$1.28 per share. The analyst noted that Blackwolf's management team and insiders own 9.82% of the company's outstanding shares which typically is considered a positive indicator as it tends to align management's interests with investors.
Blackwolf's' exploration assets portfolio consists of its 2,500 ha Niblack VMS Cu-Au type Project which is located in an area that has undergone a sizable amount of exploration over the past 20 years with more than 440 holes having been drilled to date. The company's Hyder properties include the Texas Creek, Cantoo and Casey properties which together encompass about 4,400 ha in southeastern Alaska along the Canadian border.
During 2020, the company drilled 1,774m in 10 holes at the Niblack mine with the primary goal of testing mineral extensions. Some highlighted results included hole LO20-213 which returned 11.08 m of 2.33% Cu, 2.9 8g/t Au, 1.78% Zn and 45 g/t Ag or 5.52% Cu eq. Two other holes, LO20-215 and LO20-219, returned 7.59 m of 10.75% Cu eq. and 3.10 m of 14.25% Cu eq, respectively.
The company's 2021 drill program included 1,810m in 5 holes at the Lookout Zone to test known down dip extensions and conduct infill drilling. Assay results from the first two holes intersected 27 m of 1.06% Cu, 1.87 g/t Au, 1.04% Zn and 32.83 g/t Ag or 3.08% Cu eq. and 32.6 m of 1.03% Cu, 1.49 g/t Au, 0.92% Zn and 26.54 g/t Ag or 2.67% Cu eq.
Blackwolf's shares trade under the symbol "BWCG" on the TSX Venture Exchange and last closed for trading at CA$0.56/share on Wednesday, April 20, 2022.
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Disclosures for Couloir Capital, Blackwolf Copper & Gold Ltd., April 19, 2022
This report has been prepared by an analyst on contract with or employed by Couloir Capital Ltd. The analyst certifies that the views expressed in this report which include the rating assigned to the issuer’s shares as well as the analytical substance and tone of the report accurately reflects his or her personal views about the subject securities and the issuer. No part of his / her compensation was, is, or will be directly or indirectly related to the specific recommendations.
In the last 12 months, Couloir Capital Ltd. has been retained under a service agreement by the subject issuer.
Couloir Capital holds shares and / or warrants in the Company. The warrant have an exercise price of $0.85 and expire in June of 2022.
Couloir Capital Ltd. is affiliated Couloir Securities Ltd., an Exempt Market Dealer. They shall be referred to interchangeable as Couloir Capital herein. Part of Couloir Capital's business is to connect mining companies with suitable investors that qualify under available regulatory exemptions. Couloir Capital, its affiliates and their respective officers, directors, representatives, researchers and members of their families may hold positions in the companies mentioned in this document and may buy and/or sell their securities. Additionally, Couloir Capital may have provided in the past, and may provide in the future, certain advisory or corporate finance services and receive financial and other incentives from issuers as consideration for the provision of such services.
Couloir Capital has prepared this document for general information purposes only. This document should not be considered a solicitation to purchase or sell securities or a recommendation to buy or sell securities. The information provided has been derived from sources believed to be accurate but cannot be guaranteed. This document does not consider the particular investment objectives, financial situations, or needs of individual recipients and other issues (e.g. prohibitions to investments due to law, jurisdiction issues, etc.) which may exist for certain persons. Recipients should rely on their own investigations and take their own professional advice before making an investment. Couloir Capital will not treat recipients of this document as clients by virtue of having viewed this document.
