Phoenix, Arizona--(Newsfile Corp. - February 8, 2021) - The Stock Day Podcast welcomed Cache Exploration (OTC Pink: CEXPF) ("the Company"), a gold focused Company that holds and operates the Kiyuk Lake Property which covers 590km2 in SW Nunavut. CEO of the Company, Jack Bal, joined Stock Day host Everett Jolly.
Jolly began the interview by asking about the Company's background and current projects. "Our company is Cache Exploration, and we are a Canadian exploration company. Our main project is the Kiyuk Lake gold project, which is one of the largest open pit targets in the world in Northern Canada," shared Bal. "The drill results from this deposit have been very encouraging," he added. "Our big focus is to commence a drill program, which will begin in the next 30 days. We will drill 4,000 to 5,000 meters and really take this deposit to the next level."
Jolly then commented on the Company's recent announcement detailing an agreement to acquire a historical gold mine in Krasnoyarsk, Russia. "The Krasnoyarsk gold mine was a previously producing mine," explained Bal. "The historical resource of this reserve is over 1.7 million ounces. So, it's a very good opportunity for a company like ours to get involved to become a producer in a very short way. We're very excited."
"Russia is a big producer of gold and they always have been," said Bal. "Russia has a hard time getting hard currency; the ruble has depreciated by over 50% in the last two years, so there is an opportunity for us to bring US dollars, which goes a long way in Russia."
"Where are we at with the preparations of the upcoming drill project at Kiyuk Lake?" asked Jolly. "We expect to have people on the property in the next two weeks. We have a company that will get the camp up and running in mid-February," said Bal. "At the end of the month, we will have our drilling company head up," he added. "Probably within the first week of March, we will commence our drill program. It will probably be two months long, we will drill up to 5,000 meters, and we expect some pretty good results."
"It's looking like it's an open pit target. We've gotten some of the highest grades of open pit targets in North America; in the last drill program we're averaging over three grams per tonne. Most open pit mines in the world are averaging under one gram per tonne," explained Bal. "If we can drill enough gold up there, it's a very good opportunity for a major mining company to come in and take us out."
"Is there a timeframe for when you might do a 43-101 on that property?" asked Jolly. "I think our goal is to commence the drill program in March, and then after we get the results I think we will do a 43-101 resource. We will probably come back again in the summertime and do another 4,000 to 5,000 meter drill program, and then we will update that 43-101 as we go along."
"Do you have any comments on what is going on in the silver space?" asked Jolly, noting the increasing value of silver. "The positive here is that it has brought a lot of eyes to the precious metals market," said Bal. "The more attention we can get for these metals, the better it is for junior mining companies like ours."
Jolly then asked about the Company's outlook over the next two to three quarters, as well as their current market cap and stock price. "We're going to take a good run at this gold mine in Russia," said Bal. "Our Kiyuk Lake drill program will commence within 30 days, and we will have two drill programs this year," he continued. "As results start to come in, I think the stocks will do very well."
"Why should investors take a look at your company?" asked Jolly. "We're a well structured company, we don't have a lot of shares out," said Bal. "We have capital; we raised about $2.4 million in the last 30 days," he added, noting that the Company has also received offers for additional financing. "But also, we have the projects," continued Bal. "We were very lucky to get the Kiyuk Lake project. It is one of the highest grade open pit targets in the world," he added, before elaborating on the potential of Canadian deposits. "This is where you're going to find the big deposits that become big mines."
To hear Jack Bal's entire interview, follow the link to the podcast here: https://audioboom.com/posts/7794370-cache-exploration-discusses-acquisition-of-1-7-moz-gold-mine-in-krasnoyarsk-russia-with-the-stoc
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About Cache Exploration
Cache is a gold focused Company that holds and operates the Kiyuk Lake Property which covers 590km2 in SW Nunavut: the project features a number of gold bearing prospects including 2017 identification of 8m of 26.4 g/t gold at the Rusty Zone and extensive mineralization at East Gold Point with 64 m at 1.5 g/t gold and 10 m at 6.5 g/t gold. Extensive surficial float evidence indicates a series of high-interest gold systems (see http://cacheexploration.com/CAY-NR-10-26-17 to view plan maps of Rusty Zone and East Gold Point, section showing select KI17-004 and -005 drill results and Maps of rock and till sampling results.
Qualified Persons
Chris Pennimpede, P. Geo., is a Qualified Person as defined by National Instrument 43-101, has reviewed and verified the technical information provided in this release.
For more information about Cache Exploration, please visit: http://www.cacheexploration.com/
On behalf of the Board of Directors
Cache Exploration Inc.
"Jack Bal"
Jack Bal
Chief Executive Officer
About The "Stock Day" Podcast
Founded in 2013, Stock Day is the fastest growing media outlet for Nano-Cap and Micro-Cap companies. It educates investors while simultaneously working with penny stock and OTC companies, providing transparency and clarification of under-valued, under-sold Micro-Cap stocks of the market. Stock Day provides companies with customized solutions to their news distribution in both national and international media outlets. The Stock Day Podcast is the number one radio show of its kind in America. Stock Day recently launched its Video Interview Studio located in Phoenix, Arizona.
SOURCE:
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