The primary Ammolite resources of the company are situated within three distinct blocks in Southern Alberta, Canada. In order to assess the company's Northern property, resource experts from Sproule Associates Limited were commissioned to prepare a NI 43-101 Resource Report. So far, Sproule has identified over 9,700 concretions containing gemstones on this specific property.
Continual exploration is a fundamental aspect of GEMXX's operations, which is why the company recently acquired an additional 217 acres of gem-bearing land in Southern Alberta, Canada, comprising of two additional blocks. To date, the company has conducted three core samples on the properties located in the south, successfully confirming the presence of two shale formations that contain gemstones.
Further exploration on these two southern blocks will involve the implementation of test pits and trenching to evaluate the gemstone recovery rate per cubic yard of gem-bearing shale. The two shale formations, referred to as 3B and Zone 4, are known for their distinctive characteristics. Zone 3B is recognized for yielding gem-quality Ammonites and free-form Ammolite gemstones, while Zone 4 is known to produce the highest-grade Ammolite gemstones and Collector Ammonite fossils found anywhere in the world.
Reserves & Production
“The company has identified over 9700 gem bearing concretions on its North Block”
Jay Maull, CEO
GEMXX has recently acquired a 50% stake in Crazy Horse Mining Inc. ("CHMI"), including its mineral assets located in British Columbia, Canada. CHMI's primary Canadian gold exploration assets consist of the Snow Creek and Rosella Creek projects, along with additional mining claim options in British Columbia. The Snow Creek project spans 498 acres, with approximately 80% of the area considered mineable, while the Rosella Creek project covers 240 acres, with an estimated 90% being mineable.
In relation to the Snow Creek project, three initial test runs involving 100 cubic yards each have been completed, yielding respective results of 1.07, 1.08, and 1.12 ounces. The project holds well-defined mineral resources, featuring a 0.94:1 ratio of overburden to pay ore.
Crazy Horse Mining Inc. is a Canadian Junior resource company that possesses mining properties in British Columbia, Canada. CHMI's Snow Creek claim, covering 498 acres, is situated adjacent to the renowned Christie's Lead gold deposit, which was described as "the richest piece of ground in the Cassier gold fields" back in 1876. As for the 240-acre Rosella Creek property, limited exploration work has been conducted thus far, but it is reported that the neighboring property generates over 200 ounces per season through a small single-operator operation. CHMI intends to conduct further testing on the Rosella Creek property during the 2023 season.
"The acquisition of the Snow Creek and Rosella Creek gold asset portfolio strengthens the Company's long-term asset expansion plan and mitigates revenue risks. Moreover, it complements our Ammolite production with the world's most sought-after commodity. This will significantly reduce the cost of goods for our entire gold jewelry product line and bring us closer to our goal of vertical integration," stated Jay Maull, GEMXX's Chief Executive Officer. Mr. Maull further added, "To date, we have drilled 33 test holes and conducted three separate bulk tests involving 100 cubic yards each. Based on our initial assessments, there are indications that the properties could potentially yield over 100,000 ounces of easily recoverable gold. This will be confirmed by an S-K 1300 compliant Resource Report expected to be released this summer."
In addition to the 800 acres already held in the Company's resource portfolio, GEMXX has recently acquired an extra 217 acres of gem-bearing property in Alberta, Canada. These Southern Blocks represent two valuable assets with high-grade deposits, low operating costs, and long lifespans.
As of now, three core samples have been extracted from the southern properties, confirming the presence of two formations containing gem-bearing shale. The initial core samples, combined with the management's extensive knowledge of historic mines in neighboring areas, instill confidence that this site has the potential to be one of the world's premier Ammolite mines.
Developing the Southern Blocks will serve as a growth platform for GEMXX in both new and established markets, enabling the company to meet the global demand for its products. This site alone positions GEMXX to become a significant and scalable Ammolite producer, with an estimated production lifespan of 50 years.
Upon completion of the National Instrument 43-101 report on the Company's Southern Blocks, Management anticipates a substantial three-fold increase (3x) in the Net Present Value (NPV) of the Company's assets. GEMXX remains committed to expansion across multiple markets and aims to own or control every step of the production process.
GEMXX is building a unique global Ammolite exchange and making exceptional progress in the industry. We have people from a variety of academic and professional backgrounds on our team, including business professionals, financial experts, jewelry designers, marketing and sales specialists, engineers, and various trades. We aspire to create a comfortable and safe work environment that professionals can trust and enjoy. As our operations continue to grow we are looking for qualified candidates who are reliable, work with integrity, aspire to grow with the company, and work towards a common corporate goal. Surround yourself with other like-minded professionals, GEMXX is interested in hearing from you.