The Whale Cove gold project is located in the Rankin-Ennadai greenstone belt in Nunavut, Canada. Wholly-owned and operated by BG Gold, the Whale Cove project is the most advanced project within BG Gold’s extensive land package.
Whale Cove has access to excellent infrastructure with the project area 5km from the coast, with all season road access and is proximal to Agnico Eagle’s Meliadine operations.
Vickers is the primary deposit of the Whale Cove project and benefits from a high grade multi million ounce resource of 1.5 Moz of gold at 2.0g/t in the Measured and Indicated Resource categories and 0.9 at 1.8g/t Moz in the Inferred Resource category. This includes high-grade intersections of up to 101m @ 12.3 g/t. Recoveries of up to 99.6% have been achieved using conventional methods.
The Vickers resource underpins BG Gold’s ongoing evaluation of Whale Cove as a major, open pit gold mining operation. The 2025 work programme includes resource infill and expansion drilling, metallurgical test work and a Preliminary Economic Assessment.
In addition to the Vickers deposit at Whale Cove, BG Gold holds a massive 841km2, highly prospective contiguous tenement package in the . Over 18 additional targets have been identified in the exploration property, returning excellent gold grades in early-stage drilling and assessments. Of these, the CZ, Bazooka and Howitzer are considered priority targets.
Apex holds a 0.75% gross revenue royalty over all of BG Gold’s 841km2 tenement package together with an option to increase the royalty to 1.0%.
The royalty is uncapped and there are no buyback provisions.
|
Mineralization (mt) |
Grade (g/t) |
Contained Gold (Moz) | |
|---|---|---|---|
| Measured | 0.9 | 2.02 | 0.06 |
| Indicated | 22.7 | 2.01 | 1.47 |
| Total Measured & Indicated | 23.7 | 2.01 | 1.53 |
| Inferred | 16.0 | 1.77 | 0.91 |
1 per BG Gold website
Note: Cut-off grade of 0.90 g/t. Contained metal and tonnes figures in totals may differ due to rounding. Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, marketing, or other relevant issues. The Mineral Resources in this Technical Report were estimated using CIM (2014) Standards on Mineral Resources and Reserves, Definitions and Guidelines.
The quantity and grade of the reported Inferred Resources in this estimation are uncertain in nature and there has been insufficient exploration to define this Inferred Resource as an Indicated or Measured Mineral Resource. It is uncertain if further exploration will result in upgrading the Inferred Resource to an Indicated or Measured Mineral Resource category.
