FIN Resources Set to Drill High-Grade Gold at Cabin Lake Project
FIN Resources is gearing up to launch its maiden drilling campaign at the high-grade Cabin Lake Gold Project in Canada’s Northwest Territories, with ice road construction starting in early February and drilling expected by March.
- Maiden 1,500m drilling campaign planned for March
- Ice road construction to begin early February for site access
- Aurora Geosciences appointed to manage winter drilling program
- Acquisition completion expected late February after permit assignment
- Focus on confirming historic high-grade gold intercepts and new targets
Drilling Campaign Kicks Off at Cabin Lake
FIN Resources Limited (ASX – FIN) is advancing rapidly towards its first drilling program at the Cabin Lake Gold Project, located in Canada’s Northwest Territories. The company has announced that ice road construction will commence in early February, paving the way for ground access to the remote site. Drilling is scheduled to begin in the first week of March, marking a significant milestone in FIN’s exploration efforts.
The upcoming maiden drilling campaign will cover approximately 1,500 metres and aims to validate historic high-grade gold intercepts within the Bugow Iron Formation, a geological structure known for its rich mineralisation. Notably, previous drilling returned impressive results such as 31.4 metres at 13.8 grams per tonne gold, underscoring the project's potential to host a substantial gold resource.
Strategic Partnerships and Operational Preparations
To manage the complexities of winter drilling in this challenging environment, FIN has appointed Aurora Geosciences, a well-regarded geological and geophysical consultancy based in Yellowknife. Aurora’s expertise will be critical in overseeing the drilling program, which will utilise oriented diamond core drilling and downhole geophysics to refine understanding of the structural controls on gold mineralisation.
Preparations also include establishing a workers’ camp and necessary infrastructure to support the exploration team. The construction of an ice road will facilitate access to the project area, exploration camp, and drill pads, ensuring logistical efficiency during the winter months.
Acquisition Nears Completion Amid Regulatory Progress
FIN is on track to complete its acquisition of the Cabin Lake Gold Project by late February, following the finalisation of legal due diligence and agreement on all settlement documents with the vendor, Stockworks Gold Inc. The transfer of the mineral claim to FIN’s Canadian subsidiary has been completed, and the company is awaiting the assignment of the Land Use Permit from the Wek'èezhìi Land and Water Board. This permit is currently under public review and is expected to be granted in time to meet the acquisition timeline.
The project benefits from being situated in a Tier-1 mining jurisdiction with established infrastructure and strong local partnerships, including an existing access agreement with the Tłı̨chǫ Government. These factors enhance the project's viability and support FIN’s exploration ambitions.
Looking Ahead
As FIN embarks on this maiden drilling campaign, the market will be watching closely for assay results that could confirm the historic high-grade gold intercepts and potentially expand the resource base. The integration of new geological and geophysical data promises to sharpen targeting models and inform future exploration strategies.
Bottom Line?
FIN’s upcoming drilling results at Cabin Lake could be a pivotal catalyst for the company’s growth trajectory.
Questions in the middle?
- Will the maiden drilling confirm the historic high-grade gold intercepts?
- How might permit assignment delays impact the acquisition timeline?
- What are the implications of new structural data on resource estimates?
