At the Vancouver Resource Investment Conference, Alexandre Boivin, CEO of Quimbaya Gold (CSE:QIM), shed light on the company’s strategic focus in Colombia, highlighting the country’s vast, untapped mineral resources.
“(Colombia) is the most underexplored country in all of South America,” said Boivin. “Colombia has huge exploration potential, and the big guys from the industry are already there.”
He pointed to Zijin Mining’s (OTC Pink:ZIJMF,HKEX:2899) $1.9 billion acquisition of Continental Gold, as well as Aris Mining’s (TSX:ARIS,NYSEAMERICAN:ARMN) expansion efforts, as signs of Colombia’s increasing appeal.
Boivin elaborated on Quimbaya’s flagship Tahami project, located in the prolific Antioquia province, which produces 50 percent of Colombia’s gold. “There is a lot of indication for where there is gold, because artisanal miners are already there … and there are historical mines,” he said, noting that Quimbaya’s project is surrounded by established miners like Aris.
The company is planning a 4,000 meter drilling campaign in 2025.
Boivin said the goal is to prove the strike of the vein system and its depth. Neighboring mines have already reported resources with grades of 16.1 grams per metric ton, enhancing optimism about Quimbaya’s project’s potential, Boivin said.
To finance exploration, Quimbaya has partnered with independent drilling firms with structured agreements to manage costs efficiently by paying in shares or a combination of cash and shares.
This will allow Quimbaya to minimize capital raises, the chief executive explained.
Watch the full interview with Quimbaya Gold CEO Alexandre Boivin above.
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