Newfoundland is a large Island on the East coast of Canada, which has seen a significant increase in gold exploration during the past 12 months, with more than 400,000 metres of drilling forecasted to occur during 2021, compare to ~ 70,000 metres of drilling during 2016. This increase in activity has also seen a major increase in land being pegged across the Island. Image 1 below highlights the location of the Company’s Projects as well as the significant increase in ground being explored for minerals compared to 2019.
Newfoundland and Labrador has a rich history in the resources industry, and the government is extremely supportive for further growth in the sector. This strong government support, coupled with world class transport infrastructure, skilled workforce, as well as low cost grid power access (hydro) has resulted on the jurisdiction being ranked 8th (out of 77 jurisdictions around the world) based on their geologic attractiveness and government policies.