Listen to this articleBelow is our recent interview with Glenn Mullan, President of International Prospect Ventures:
Q: Could you provide our readers with a brief introduction to International Prospect Ventures?
A: International Prospect Ventures Ltd. (IZZ-TSXV) is a public junior mining exploration company in the Zed Zed Group. Golden Valley Mines Ltd. (GZZ-TSXV) is the largest shareholder with over 4M of the 27M shares issued (about 16%). Rob McEwen (about 2.7M shares, or 10%), and then the board of directors (10%), friends and family (10%) and a single broker in Calgary (15%) round out the top shareholders. It takes less than 10 names to account for over 65% of the IZZ shares.
Recommended: Bryan Baeumler & The Original CleanBoot: Doing Their Part To Work Safe & Clean
Q: You’ve recently provided an update on your Wits End Gold Property; could you tell us something more?
A: The company was formed as a spin-out from Golden Valley Mines Ltd. initially focused on uranium projects in Quebec, at least until the Quebec Government imposed a moratorium on uranium exploration. After reading about some new gold discoveries in Western Australia’s “Pilbara Craton”, IZZ then staked the 8 gold properties in the Nullagine and Marble Bar area. They are quite large, at over 250,000 acres (100,000-Ha) and cover part of the area known for the original West Australian gold rush in the 1850’s. Several occurrences are known from this early work, which consisted of prospect pits, and minor excavations. Not much appears to have been done here for the ensuing 160 years, making these prospects quite attractive given that they are covered by paleo-pebble conglomerates for the most part. This is thought significant given it appears to be the same host as at the discoveries subsequently reported by Novo Resources in the same area (Beaton’s Creek) and further away at Comet Well – Purdy’s Reward, and at the Egina project.
Q: What projects are your currently focused on?
A: The story has the potential to generate excitement and market interest given the main thrust is to establish that this part of Western Australia bears many geological similarities to the Witwatersrand (hence the project name, “Wits End”) in South Africa. Why is this important? The Wits has been the largest source of gold production, with a yield thus far in excess of 1.6 billion ounces of gold. If Western Australia is indeed the “other portion”, this could open a vast injection of exploration funding seeking to prove same.
Q: What is the biggest challenge you’ve faced in your business and how did you overcome it?
A: We have had some interest on our properties to date, given independent prospectors, using metal detectors, have thus far recovered over 15 oz of gold nuggets from our properties, including one large one reported to be over 7 oz/t Au.
Recommended: Q: What are some of the main objectives for International Prospect Ventures going into 2019 and how do you plan to achieve them?
A: Our largest obstacle was the moratorium imposed by the Quebec Government in 2011, which effectively put the brakes on our key asset and program. It took some time to find something of interest that merited our attention on a significant scale. Given the small amount of shares issued, the major shareholders (including Rob McEwen and Golden Valley together owning close to 25%), and results reported to date, we are confident that IZZ will be able to finance and move its projects forward to hopefully create additional value for shareholders and the residents of Western Australia.
Activate Social Media:
