Puddle Pond Resources continues to express optimism over its ‘Heritage Project’ in the Lamaline-Point May area.
© Paul Herridge Photo
Burin Peninsula prospectors Dan Kelly, Bert Stone and Joe Walsh are pictured with rock samples from Puddle Pond Resources’ ‘Heritage Project’ in the Lamaline-Point May area. Along with St. Lawrence prospector Alex Turpin, the trio was responsible for discovering gold and silver deposits that lead the company to option their properties back in 2012.
The Newfoundland-based junior mining company has been exploring the region for gold and silver since optioning properties in the region from Burin Peninsula prospectors in mid-2012.
Vic French, Puddle Pond’s vice president and chief operating officer, indicated a pair of drilling programs in February and again in November last year returned positive results.
“We’ve had a lot of luck. By exploration industry standards, we’ve certainly achieved a lot in the first year,” he said.
“We’re probably at a stage now that would normally take most companies or groups three or four years to achieve.”
Len Muise, who co-founded the company with Mr. French five-years-ago and is currently a corporate advisor, believes the results to date suggest the potential exists for an open pit or underground mine.
“We need one more lot of drilling, I think, to de-risk this enough to say that we’ve got a resource.”
Though the company is hopeful, Mr. French tempered expectations, noting the project is still high risk.
“This is very early,” he acknowledged.
Puddle Pond hosted a pair of information sessions in Lamaline and Fortune Tuesday with a third planned at Hotel Marystown and Convention Centre for 7 p.m. this evening.
Mr. French said the company is looking to provide the public with an update of their progress to date.