Northcore Resources (TSX: NCR) was founded in 1999 as Big Red Diamond Corporation before changing to Northcore in 2011. Their focus is on the acquisition, exploration and development of Canadian mineral resources. Based in Montreal, the development stage exploration company has an interest in the West Timmins Gold Camp and three rare earth elements properties near Sept-Iles Quebec, Rouyn-Noranda, Quebec, and Prince George, British Columbia. Northcore has also entered into a joint venture agreement with Metalex Ventures and Arctic Star in the Attawapiskat diamond project in the James Bay Lowlands. Northcore holds interest in several other properties across central and western Canada.
President and CEO Jean-Francois Perrault has more than two decades of experience in the merchant banking and investment banking fields. In addition to his responsibilities with Northcore he also serves the Vice President of Corporate Finance at Jones, Gable and Company, an organization he joined following a term in the same role at Union Securities Ltd. In 2002, Perrault founded Pavillion Capital Partners where he still serves as Managing Partner. Between 1998 and 2002 Perrault was Vice President and Director of TD Capital where his most significant accomplishment was the establishment of TD Capital Private Equity Partners, the first international private equity Fund of Funds in Canadian history.
Director Micheal Neary is the Vice President and Director at ThoughtSpeed eCommerce, a Toronto, Ontario company that develops web-based management solutions. Prior to joining ThoughtSpeed, Neary founded a pair of companies, pVelocity Inc., a management efficiency firm, and Kitimat Systems Incorporated, a transportation management software developer.
Director Gordon Henriksen, an independent geologist, is the Chief Geologist at Knick Exploration, Inc. Primarily an independent geologist, Henriksen is a principal or acting consultant for many junior mining and mining exploration companies across North America, from Alaska to Mexico. He also has part ownership in a number of mining properties in Ontario and Quebec. Henriksen is an Acting Consultant to the Geological Commission of Canada.
Northcore purchased sole ownership of 12 claims that are collectively known as Lac Irene. Purchased from independent prospectors, Lac Irene sits 44 kilometers southwest of Chibougamu in Northern Quebec and covers 670 hectares. The area features excellent road access and sits adjacent to a major power line. Lac Irene is situated in the South-East Fancamp formation, a region also inhabited by Toma Gold (TSX V: LOT), who discovered a high grade intersection at Monster Lake in April 2012. Other significant gold deposits at Monster Lake include the Chevrier and Philbert deposits along with the Joe Mann mine.
Little Monster – Chibougamau
Northcore holds a 50% interest and is in a joint venture agreement with Vanstar Mining Resources (TSX V: VSR) in Little Monster. Consisting of 20 distinct cells, Little Monster covers 1,100 hectares near Chibougamau, Quebec. Similar to Lac Irene, Little Monster is nearby the high grade Toma Gold deposit. The discovered intersection offered 237.6 grams per tonne and more than 60 gold flecks were readily visible in the sample, which was taken very close to Northcore’s holding. Northcore holds first right of refusal to acquire Vanstar’s interest in Little Monster.
Bristol Gold Project – West Timmins Mining Camp
Northcore is sole owner of the Bristol Gold Project, which is found in the Timmins Gold Camp in Northern Ontario, 17 kilometers west of Timmins. The Timmins Gold Camp has yielded more than 70 million ounces of gold in its 100 plus years of continuous operation. It is nearby Lake Shore Gold’s Timmins mine and Lake Shore’s Thunder Creek discovery and is reachable by an all weather road.
Bristol Gold is comprised of two distinct claim blocks. The bigger section is approximately 1,040 hectares and contains 11 contiguous claims with 65 individual claim units. All properties are in the Bristol and Godfrey townships. The much smaller part has 2 contiguous claims with eight claim units. None of the Bristol gold claim units have been surveyed.
Northcore’s recent acquisitions are part of a larger strategy to concentrate their efforts in the Little Monster area. Little Monster holds much promise for Northcore, given the many deposits already known to exist in the region. As Northcore moves forward in its development at Little Monster, they may move to sell other Canadian interests, providing a buying opportunity for companies with similar strategies elsewhere in Canada.
Northcore has publicly stated a desire to run exploration programs here, so look for that to continue. The program will include grid establishment, ground magnetic surveys and deep penetrating electromagnetic loop surveys which can yield evidence of conductive zones at different depths. To explore the potential gold yield, Northcore will be conducting an induced polarization survey. Should these initial efforts yield fruit, Northcore is prepared to engage in a 2,000 meter diamond drilling program.