Dear HRA Reader:

We have mentioned recently that HRA Advisories will be coming out with a new subscriber-only Yukon Report soon. We’d like to give you a short preview of an interview with Eric Coffin and Rob Carpenter, President & CEO of Kaminak Gold, which will be included in this report. There will be a handful of in-depth and insightful interviews with management of key Yukon companies in our special HRA report, along with key information about why this exploration rush is different than earlier ones, why it should last longer and what you need to know to help you find potential winners. Several companies have already posted 1000%+ gains in their share prices thanks to the Yukon Gold rush. We think there could be more of those to come as scores of new entrants to the area start reporting on this year’s work in coming weeks.

To ensure your copy of this exclusive report, subscribe today at our “End of Summer Sale” prices and you’ll receive our new Yukon Report (once released), as well as HRA’s New Yukon Watch List – due out in HRA’s regular publication this week!

HRA’s Yukon Watch List will include NEW Yukon companies to keep your eye on. One or many could end up on HRA’s recommended company list very soon so sign up today and get informed before the busy fall season!

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Eric Coffin’s Interview with Kaminak Gold

Rob Carpenter, CEO of Kaminak Gold Corporation (KAM.V) has over 20 years geological experience working across Canada’s north so he was well prepared to jump in with both feet when Underworld made their discovery two years ago. KAM was an early adapter, picking up the Coffee project 30 km south of the Golden Saddle discovery. KAM’s management recognized Golden Saddle as a new style of mineralization for the Yukon which they thought had the scale potential to rewrite the exploration history of the territory. Like Underworld, KAM has been moving quickly to generate targets, drill test them and move them towards resources while continuing to add more targets across their large landholding. KAM is a technical and market success, in no small part because of the geological insight of Kaminak’s management and focused exploration efforts of its crews at the Coffee project. Rob sat down with Eric recently to share his thoughts on the Coffee project and its future and on the Yukon in general and the gold rush that is gripping it.

E: Thanks for taking the time to speak with us Rob. The assay labs were a big bottleneck last year. Are they an issue again this year?

RC: They have been a lot slower than hoped, and we’re at the point now in the projects development where we will be batching larger number of holes and delivering say 10 core holes or 20 or more RC holes from a particular target so that we are able to say something meaningful about a specific area or target when we release each set of results.

This is the first season with a reverse circulation drill rig and we’re finding RC is working really well for us. We have a track mounted rig that drills at twice the speed and half the cost of the diamond rigs. The RC rig can drill holes as deep as 200m and since most of our holes are inclined, we are thoroughly testing around the top 100m vertical of Supremo and Kona.

E: Is it a problem using RC on structural targets rather than big disseminated zones?

RC: No, because we are bringing in the RC after the diamond rig has done a first pass. We know what we are looking for and what the zone should look like. We’ve done it at Supremo and Kona and its working. We started by twinning a number of holes and we found we could reproduce the grades and widths of the zones quite well with the RC. There isn’t water in the holes to spread the grade and it’s all oxidized and we know the gold goes with oxide minerals so we drill through the zone and if it’s orange we know we’re in the right place.

The RC is great for doing a lot of holes through a zone so that we can test the broad soil anomalies quickly. It replaces trenching as a prospecting tool in some areas. It’s been great at Supremo which is an old fashioned steep gold structure, the sort of thing you might see in the Canadian Shield in Ontario or Quebec. We can put a lot holes into it and define the plunge very cost effectively.

E: Will you be adding more RC rigs?

RC: Not this year, because we have several rigs going and we will have a lot of core and RC samples to keep ahead of. We have laid out a budget that should allow us to get to the point of having several zones potentially ready to generate a resource on. We have been very careful to raise everything we needed and more for this year without warrants. That means three things; shareholders will have exposure to all of this year’s results without further dilution, and we don’t have to go to the market this year so investors who want exposure to Kaminak have to go to the market. Nonetheless, if markets are favourable and terms are accretive to KAM shareholders we won’t rule anything out.

We could pile in more rigs but that strains the camp and the personnel and it might lower the quality of the work and interpretation. Getting another 10% more drilling would not have that much more impact on the project for this season. We want to make sure we meet this year’s technical objectives effectively and efficiently.

We’ve been very careful to try and keep the corporate structure tight and not issue warrants and have that overhang. Keep the risk in the rocks, not the market. We think that we will get maximum leverage for investors and we don’t want to be left in a position where the market knows we have to finance to keep going.

The above is an excerpt from one of a few in-depth company interviews that will be available to subscribers soon. These interviews make up a small fraction of the information contained in HRA’s updated Yukon Gold Rush Report. It’s a subscriber benefit. If you want your copy, you’ve got to be an HRA subscriber to get it.

*Remember, HRA’s New Watch List is due out any day. Subscribe today and discover which Yukon companies could be the next winners!

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