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Investors Scene: E79 Resources (CSE:ESNR) CEO Update

Hey, everyone. Welcome back to investors SCE. Now, I’m excited about today’s show, because obviously, as you know, the Senate just passed a $1.9 trillion stimulus package. And this could mean potentially that gold in the levels and what that value is, is going to be blasting past its current records.

Now, one of the companies that is positioned to do really well with all of this is a company E79 Resources. It trades on the CSE under the ticker symbol ESNR. Rory Quinn is the CEO joining us now. Rory, thanks for being on.

– Thanks for having me, Jeremy. You know, I’m excited– Yeah, of course, man. I mean, I’m excited about this. Because as we just referenced, obviously, we have a stimulus package coming in. We know what this does to say, the gold economy. Let’s talk a little bit about what you’re seeing in part of this before we get into E79, because it’s a fascinating story in Australia. You’ve got the Victorian Goldfields. So first, though, where’s gold? Where’s it going?

– Yeah. Well, I’ve never been more bullish on gold. And it’s great that you referenced the $1.9 trillion in stimulus for COVID. And yeah, we do know what that does. We know what happened in 2008 with only a fraction of that amount of stimulus. I think, roughly about $800 billion. And on the back of this $1.9 trillion, I think we’re likely to see a $3 trillion infrastructure bill that can be passed in similar fashion with only 50 votes in the Senate. So half, and just Democrat votes. So really high chance it goes through. So almost $5 trillion in spending is just vast compared to anything we’ve seen before. And yeah, I wouldn’t want to be anywhere else but in gold.

– Right. Now, let’s transition a little bit over E79. Your company is in a really interesting and unique position here, because you got the expertise, and you’ve got some really undeveloped properties in areas within Australia. As I mentioned before, the Victorian Goldfields there that are showing some really promising types of sampling. So let’s talk about where you are in this exciting this about E79.

– Yeah. Well, I think really the opportunity came up when a Canadian company called Kirkland Lake explored down plunge. So at depth at a mine called Fosterville, which has turned out to be a world class mine. And world class gets thrown around a lot, but the word has no meaning if we don’t call Fosterville world class. It’s one of the highest grade mines on Earth. To reserve grade is roughly an ounce per ton. And it’s one of the more profitable mines in the world.

And so what that’s done is since that’s been really proven into this world class org body since the age of 2017, 2018, is it really allowed people to reimagine how to explore this whole region. Right. And it’s not a surface, it’s at depth. The price is it depth. And what happened at Fosterville is they explored down depth, and it just kept getting richer and richer and richer.

And so, we’ve acquired this priority ground in Beaufort, which is not far away from Fosterville in the Victorian Goldfields. And it exhibits a lot of the Pathfinder elements. So the elements we look for when we’re looking for gold, and in that region. It’s gold, arsenic, and antimony. We have a two kilometer long gold, arsenic, antimony trend. So we’re seeing this sort of Fosterville type mineralization. It’s fosterville type biogeochemical fingerprint. And we’ve got some wonderful targets that we’ll be advancing and drilling soon.

– There’s things coming down the pipeline here, Rory. But could you tease a little bit what you’re seeing. I mean, there’s a huge opportunity here.

– Yeah. Well, we’ve got two separate properties. So one is both for as I mentioned that there’s been over a million ounces of alluvial gold production. So that’s gold at surface in the plaster that kind of comes right to surface, and it’s easy to find. But all of that gold has never been sourced to hard rock. And so this gold doesn’t just appear on the surface. There’s plumbing to it. It has to come from somewhere in the Earth’s crust. And that’s what we’re exploring for.

So we’re exploring for the hard rock source of all of that gold at Beauford. And as I mentioned, we’ll be advancing drilling there shortly. We’ve already started drilling at Myrtleford, in a place called Happy Valley. Happy Valley– that region produced roughly 35,000 ounces and about an ounce per ton gold. So spectacularly, high grade.

And virtually, all of the exploration of mining that happened in that area stopped at the water table because historically, they didn’t have the capital or really the technology to pump out the water. So really, just all of the efforts to stop so what we’ll be doing is drilling underneath that historic high grade gold, and beneath the water table, and really testing that area out. So we’ll do about 1,000 meters of drilling there. It’s currently underway. We’ll look forward to reporting on that soon. And then, we’ll pivot and move the drilling over to Beaufort. And we’ll get into these really high priority targets that we have there.

– Yeah. I mean, as well as I do, the timing is everything in this industry, and especially what you’re doing now. I mean, you’ve been in this for a moment. How excited are you about this potential here?

– Well, I mean, I’ve been in gold and precious metals for about 15 years before this opportunity– for this opportunity, I should say. I was with Wheaten Precious Metals for seven years. And before that, it was Silver Wheaton and, we grew that into very large precious metals company. We did roughly $6 billion worth of transactions while I was there.

And I was on the corporate development, sat in on the corporate development committee as I reviewed these opportunities. And that’s when I was introduced to Fosterville as an opportunity out there. And really, just how perspective this area is in the Victoria Goldfields, and it’s turned into what I would say if not the hottest gold player in the world then certainly one of them.

And so my background was looking for these type of opportunities, looking for some of the best precious metal opportunities in the world. And that put me in really good stead for looking for the type of opportunities around the world that create value for investors. And this is the one I found.

– Amazing. Amazing. Well, I’m excited there’s going to be a great time to come. I know that you just started drilling which means that we’re going to have to hop on soon to talk about those results, disseminate them a little bit to the audience. Exciting times to come. It’s a great entry point here.

– That’s it. Hold tight. We’re going to have plenty of news. We’ve been very busy since the start of the year, and now, you’re going to see the news flow. So keep your eyes out and hang on tight.

– Mr. Rory Quinn of E79 resources. Thanks, man. I appreciate your time, and looking forward to having you on the show soon.

– Thanks so much, Jeremy. All the best.

– Thanks, Roy.

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