Sentinel’s newly acquired Waterloo project is situated within the highly productive Quesnel Trough in Southern B.C. and central to at least four operating mines.
The property has undergone small-scale production from high-grade silver and gold prospects since the early 1900’s.
Sentinel Resources Corp. (CSE:SNL, OTC:SNLRF) aims to be the first company to investigate the true potential of Waterloo through a systematic exploration and drill program. The plan is to conduct further geophysics and sampling with the intent to drill deeper into the most prospective silver and gold showings.
With a market cap of less than $10 million (as of Sept 14) the upside potential in shares of Sentinel should not be ignored.
New Gold Inc (TSX:NGD), with a market capitalization of $1.4 billion, is an example of this strategy culminating into a major success.
New Gold’s New Afton gold-silver-copper mine is an underground (block cave) mine located within the footprint of the historic Afton mine, 10 km west of Kamloops, British Columbia. The original Afton project was an open pit mine that was operated by Teck Corporation between 1977 and 1997. In targeting a specific mineral deposit, New Gold constructed underground tunnels, along with a new concentrator and tailings facility. They achieved commercial production in July 2012 at which time the mine had an expected 12 year life. Between 2013 and 2019 the mine produced between 69,000 and 105,000 ounces of gold each year.
Not wasting any time and intending to apply similar strategies as New Gold Inc, Sentinel Resources Corp. (CSE:SNL, OTC:SNLRF) announced on September 15th that it has commenced work on the Waterloo project.
Historical grab samples across the project point to a well mineralized system traversing the property, with high grade silver and gold veins exposed over an area of 4.0 by 0.7 kilometers.
Rob Gamley, President & CEO of Sentinel commented, “As previously stated by Sentinel, selected previously reported historical high grab samples have returned very robust silver-gold sampling results from three separate areas on the project, including:
Waterloo Silver area: 2,790 g/t Silver and 25.4 g/t Gold, 3,095 g/t Silver and 45.0 g/t Gold
Forge East: 1,507 g/t Silver and 2.80 g/t Gold, 3,085 g/t Silver and 3.80 g/t Gold
AU Showing: 794 g/t Silver and 45.70 g/t Gold
We are now seeking to confirm and hopefully expand upon that success.”
The Waterloo project, which includes the historic Waterloo Mine, has clearly shown the potential to host high-grade silver and gold mineralization. Historic work on the project such as geological mapping and prospecting have produced compelling results of high-grade silver and gold – metals which have been mined in the region for over 100 years.
Waterloo, situated in the historic Lightning Peak silver and gold camp, is located 65km East of Kelowna, BC and roughly 5 hours drive from Vancouver.
Given the success rate of surrounding mines, the potential for high grade, low cost gold and silver resource development is intriguing.
Sentinel will be directing its efforts to a well mineralized, 4 km trend centered across the property. High grade grab samples along this trend, including 2,790 g/t silver and 46 g/t gold will help provide guidance on where the company will focus exploration in order to advance their understanding of the underlying structures.
Adding sizzle to the steak, the map below depicts crosscutting subsurface structures which could significantly expand the footprint for potential high-grade gold-zinc discoveries. These zones of structural intersections remain largely untested and represent priority targets for follow-up.
With the project acquisition news Sentinel Resources Corp. (CSE: SNL, OTC:SNLRF) announced a financing of up to $500,000, which will be used to kick off the exploration program.
Post-financing Sentinel will have an impressive, tight share structure of approximately 20.5 million shares outstanding and a market capitalization under $10 million.
B.C. based junior exploration companies modeling their exploration and drill programs based on similar geology have seen their market caps and shares take off, driven by the ongoing gold and silver bull market.
Given its tight share structure and small market cap, exploration success and new discoveries could provide significant torque to share price movement.
Stay tuned for updates from Hot Stocks Review on this potentially explosive developing story and visit Sentinel’s website to learn more.
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