2024 Wrap-up | NewQuest Capital Group
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Dear Erik,
As we approach the end of another successful year, we want to take a moment to thank you for your continued support. NewQuest continues to position itself at the forefront of mineral exploration, redefining what’s possible and charting a course toward the future of discovery. We have achieved significant milestones that demonstrate our shared commitment to exploration success. Meters drilled | 28,043 Holes drilled | 64 Targets tested | 29 Drill rigs | 8 Continued partnerships | Newmont Corporation, AngloGold Ashanti Strategic investments | Centerra Gold |
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NewQuest year in review video |
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Inflection Resources Inflection with AngloGold Ashanti continued to explore the Macquarie Arc for copper-gold in New South Wales. AngloGold Ashanti selected Duck Creek as a Phase II project while continuing to advance the Phase I regional exploration program. Drilling at Duck Creek intercepted intense hydrothermal alteration and sulphide mineralization. The company’s partnership with Fleet Space deployed 3D imaging technology over ~1,800 km2 identifying multiple new targets. These collaborations have set the stage for potential discoveries in Australia’s premier copper-gold porphyry belt. |
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Headwater Gold Headwater made remarkable progress with 7,000m of drilling on two Nevada projects. 100% funded by Newmont, work at the Spring Peak project, expanded mineralized zones and discovered new targets. Centerra Gold completed a strategic $1.54 million investment into the company. Two new projects were added to the portfolio. Momentum continued with an inaugural drill program on the 100%-owned TJ gold project. Headwater continues to focus on the discovery of high-grade gold deposits in the western US. |
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Red Canyon Resources
Red Canyon discovered a new copper-molybdenum porphyry at its 100%-owned Kendal project in British Columbia. Drilling confirmed a robust system with mineralization at surface extending over impressive intervals. The Kendal system has a large 2.5 x 1.5 km alteration footprint located near top-tier infrastructure. Red Canyon is set out to define what could be a world-class copper-moly deposit at The Kendal Project, while continuing to advance its six other 100% owned Projects. |
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FinEx Metals FinEx executed its most ambitious program yet, drilling 1,002 top of bedrock holes at the Ruoppa gold project. FinEx identified high-grade gold targets that could mark the discovery of an extraordinary orogenic gold system. 222 rock samples were collected from trenches at Ruoppa East, with 50 samples exceeding 1 g/t gold and a high of 95 g/t. This 100%-owned drill-ready project adjacent to Agnico Eagle’s Kittila Mine holds immense potential for discovery in 2025. |
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Conduit Nickel
It has been a productive year for Conduit. The company added Mark Bennett to the board. Indigenous relations program made excellent progress towards exploration agreements and long-term relationships at the Raven Project. High-resolution magnetics were flown over 150,000 hectares highlighting eleven new tier-one nickel sulphide targets. A Manitoba government grant of $300,000 was secured. Potential partnership discussions with all major global nickel producers and several other interested parties are ongoing. Permit applications were submitted across the Raven project. |
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From all of us at the NewQuest Capital Group and Companies. We wish you and your loved ones a happy holiday season.
Here’s to a prosperous and bright New Year! |
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