Exclusive #Gold CEO Interview; Mark Scott of Sassy Resources

Gold is trading at $1,896/oz., yet gold juniors are trading as if it was hundreds of $/oz. lower. This disconnect can’t last, especially if the price tops $1,950 – $2,000/oz. in the coming weeks or months. Not that high-quality projects need higher prices — $1,896/oz. is quite strong compared to the average of $1,339/oz. from 2014-2020.

Canada’s gold production grew to 6.7M ounces in 2021, rising to 4th place after China, Australia & Russia. Last year Canada was the most explored country in the world. Eighteen months ago, when gold was > $2,000/oz., Newfoundland was one of the hottest gold jurisdictions on the planet.

Sassy Resources (CSE: SASY) / (OTCQB: SSYRF) owns nearly half of a 2,257 sq. km (225,700 hectares) gold project portfolio in Newfoundland, plus a substantial project in B.C.’s Golden Triangle, plus a newly obtained uranium prospect in the world-famous, high-grade Athabasca basin. Active exploration is being done in all three areas this year.

Sassy has near-term catalysts and a cheap valuation (in my opinion). To get the latest update, I spoke with Pres. / Dir. / CEO Mark Scott, who’s very excited about 2022. This is a company with a C$20M market cap that has three excellent project areas, any one of which could be a company-maker. Please continue reading to learn more about Mark’s vision for Sassy.

Epstein Research [ER]: Now that the Gander Gold partial spinout to shareholders is complete, can you discuss Sassy’s ongoing relationship with, and ownership of, Gander Gold?

CEO Mark Scott: The record date for the distribution of Gander Gold shares was February 1st. As the final review & approval of the Gander Gold transaction progresses, Sassy will issue the capital distribution Gander shares (8.83M total shares in two tranches) to Sassy shareholders and convert the Gander Gold special warrants held by other investors. 

While Gander & Sassy will be operated independently, the relationship between the two is obviously close given Gander’s share structure. After the conversion of special warrants and the capital distribution, Sassy will retain ~35M shares of Gander, just under 50% of the outstanding shares when it begins trading. 

Sassy will maintain a very substantial position in one of the largest gold claim packages in Newfoundland (9,032 claims / 2,257 sq. km). Based on early returns from Phase 1 exploration, this ground is proving to be highly prospective for structurally-controlled gold mineralization. 

The Company has identified potentially significant, high-grade gold in soil anomalies at both the Gander North & Mt. Peyton projects. There are thousands of samples from 2021 yet to be reported from across the Company’s six other projects in Newfoundland (Cape Ray, BLT, Carmanville, Gander South, Hermitage, Little River). 

On January 14th, Sassy announced the discovery of a multi-km long gold & copper-in-soil anomaly in the southwest section of the 949 sq. km Mt. Peyton project. Please talk about this target.   

There are a number of areas of interest that warrant follow-up work at the Mt. Peyton project. Of particular interest is the newly named ‘Golden Horseshoe’ target in the southwest portion of the property. Golden Horseshoe has never been drilled, but is interpreted to have a potential strike length of ~20 km. 

Extensive soil work has returned meaningful gold & copper anomalies closely correlated with very distinctive magnetic features. Both the 20 km overlain by gold & copper anomalies at Mt. Peyton, and the > 40 km of structure overlain by gold & copper anomalies at the Gander North project, represent the exciting potential for district-scale discoveries.

In addition to growing excitement at Sassy’s Mt. Peyton project, your team has identified another new gold trend in the Gander Gold Belt. Can you briefly describe this latest news and its significance? 

The Gander North property is made up of the “Viking” claim block optioned from Vulcan Minerals and additional properties optioned from well-known prospector Shawn Ryan. Based on early-stage work performed in Newfoundland to date, this is our highest priority target. Multiple anomalous zones of gold & copper with attractive gold-in-soil results have been identified.

The background & anomalous values, combined with very sparse historical soil/till sampling in the area, are quite promising. They share characteristics with some of the region’s most significant discoveries, incl. New Found Gold’s Queensway & Labrador Gold’s Kingsway projects in the Gander Gold Belt. 

Follow-up work will be performed this year to expand the existing soil/till sampling grids and develop high-impact drill targets.  

How important is Sassy’s newly acquired Highrock uranium property compared to your Newfoundland & B.C. gold portfolios? 

Highrock provides Sassy with an entry into the uranium space, and a way to diversify our emphasis on gold in the Eskay Camp of northwestern B.C. & in Newfoundland. 

It also provides a year-round, road-accessible project where winter drilling is not only possible but is preferred. We really like the long-term prospects for uranium as it plays a critical part in the growing global trend of decarbonization.

Highrock sits on the same geological trend hosting the historic Key Lake mine(s), which produced > 200M pounds of uranium. The staged option agreement allows Sassy to judge exploration progress yearly and allows us to keep Forum Energy Metals’ expert team at work for up to three years.

Drilling should be underway this month.

There have been important announcements regarding Sassy’s Newfoundland properties & the move into uranium, but not much news on the gold project in the Eskay Camp. Please update readers on the Foremore project. 

The 2021 exploration season at the Foremore Gold-Silver Project involved a property-wide airborne VTEM/Mag survey, ~2,700 m of diamond drilling mostly at the Westmore Discovery Zone, and ongoing geological mapping across the property.

We will report drill results from Westmore as soon as they are available and preliminary interpretation is completed. We expect that to be in the near future.

We’re very pleased with how exploration is progressing at Foremore. We look forward to sharing drill results & preliminary VTEM interpretations, both of which will inform our plans moving forward.

Is your team looking at additional acquisitions? If so, which jurisdictions and which metals/minerals? 

We’re always open to conversations about possibilities around the right projects. The potential of a project usually becomes clear fairly quickly. Such was the case with last year’s acquisitions in Newfoundland and again in Saskatchewan. 

We remain focused on opportunities in Canada, allowing us to operate in one currency, one language, and one ESG & regulatory environment. And, we continue to be interested in precious metals gold & silver, as well as uranium, and battery metal opportunities in copper, nickel, cobalt, lithium & PGEs.

There are a lot of moving parts at Sassy. Can you give us a list of key investment catalysts to watch for in 2022? 

This will be another eventful year for Sassy Resources. We started the year off with abundant news flow in January, including early-stage exploration results from Newfoundland and the Highrock acquisition. 

This quarter drilling will commence at Highrock, Gander Gold will be advanced towards a public listing, and there’s the imminent announcement of drill results from Westmore.

Max Power Mining, which holds an option on Sassy’s Nicobat claims in Ontario, commenced trading this week. Sassy holds 5M shares of MAXX.C (C$0.33 close on Feb. 16th). Throughout the balance of the year, follow-up exploration work will be done in Newfoundland, with drilling possible later this year. 

Planning is well underway for further exploration at Foremore, building on last year’s drilling & VTEM results. We now expect to have year-round exploration news on our precious metal, uranium & battery metal assets. We’re keeping our eyes & ears open for additional high-value opportunities across Canada.

Thank you Mark. Very exciting exploration going on in three areas across Canada. With gold above $1,890/oz., now’s a great time to take a closer look at Sassy Resources (CSE: SASY) / (OTCQB: SSYRF). I look forward to drill results from Foremore later this month!

Disclosures: The content of this article is for information only. Readers understand & agree that nothing contained herein, written by Peter Epstein of Epstein Research [ER], (together, [ER]) about Sassy Resources, incl. but not limited to, commentary, opinions, views, assumptions, reported facts, calculations, etc. is to be considered implicit or explicit investment advice. Nothing contained herein is a recommendation or solicitation to buy or sell any security. [ER] is not responsible under any circumstances for investment actions taken by the reader. [ER] has never been, and is not currently, a registered or licensed financial advisor or broker/dealer, investment advisor, stockbroker, trader, money manager, compliance or legal officer, and does not perform market-making activities. [ER] is not directly employed by any company, group, organization, party, or person. The shares of Sassy Resources are highly speculative, not suitable for all investors. Readers understand and agree that investments in small-cap stocks can result in a 100% loss of invested funds. It is assumed and agreed upon by readers that they will consult with their own licensed or registered financial advisors before making investment decisions.

At the time this article was originally posted, Peter Epstein owned shares of Sassy Resources and the Company was an advertiser on [ER]. 

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