Canadian Gold Resources Secures Permits for Exploration Bulk Sample at Lac Arsenault

Core Viewpoint - Canadian Gold Resources Ltd. has received all necessary permits from the Government of Québec to initiate a bulk sampling program at its Lac Arsenault Gold Project, aiming to test between 5,000 to 10,000 tonnes of mineralized materials for exploration purposes only [1][5]. Permitting and Environmental Compliance - The company is required to drill three shallow water monitoring wells near the sampling area to assess potential groundwater presence, with baseline water quality testing to follow if water tables are encountered [2]. - Canadian Gold supports this requirement as part of its commitment to responsible exploration and environmental stewardship [2]. Next Steps in Operations - With permits secured, the company will prepare to mobilize personnel and equipment, finalize agreements with contractors, complete the required water wells, and install temporary infrastructure [3]. - Material sampling is expected to commence and continue for approximately three weeks, with samples transported to a third-party facility for processing and analysis [3]. Management Insights - The President & CEO of Canadian Gold highlighted that receiving the permit is a significant milestone for the Lac Arsenault Project, which aims to evaluate the technical and geological characteristics of near-surface mineralization [4]. - Historical estimates from previous work indicated approximately 40,000 tonnes grading 15.43 g/t gold and 197 g/t silver, with a revised estimate of 199,580 tonnes grading 9.59 g/t gold [4][10]. Economic Potential Clarification - While the company is optimistic about generating technical and metallurgical data from the bulk sample, no economic analysis has been completed, and there are no mineral reserves at Lac Arsenault [5]. - Any references to potential revenue from sample processing are speculative, and no production decision or feasibility study has been conducted [5]. Project Overview - The Lac Arsenault Project is located in Québec's Gaspé region and features multiple high-grade epithermal-style vein systems, including the Baker and Mersereau veins [8]. - The project is situated along the Grand Pabos Fault, which shares characteristics with other productive gold systems known for hosting multi-million-ounce deposits [8]. Historical Resource Estimates - Historical estimates were based on underground sampling and trenching, but they do not comply with current CIM standards and require further verification [6][11]. - The company plans to conduct systematic diamond drilling and verification sampling to bring these historical estimates into compliance with current standards [7][11].