Home > Boards > Canadian > Mining/Resources >

Choice Gold Corp. (CNSX:CHF)

Add CNSX:CHF Price Alert      Hide Sticky   Hide Intro
Search This Board: 
Last Post: 4/6/2012 6:45:44 PM - Followers: 0 - Board type: Free - Posts Today: 0


Choice Gold Corp. was created to acquire and advance select, high-potential mineral projects and thereby unlock shareholder value. With this goal in mind, the company has entered an option agreement with Riverside Resources Inc. (TSX-V: RRI) to acquire a 100% interest in the Sugarloaf Peak Gold Project just west of Quartzsite, Arizona. Sugarloaf Peak covers over 24 km² and was the subject of intermittent drilling from the 1950s through to the 1990s and small-scale mining for over a century. The project is the subject of a historical, non-National Instrument 43-101 compliant mineral resource and Choice Gold has a mandate to prove its economic viability, thus creating an attractive takeover target for a major gold producer.

Sugarloaf Peak

The Sugarloaf Peak Gold Project covers over 24 km² and has been the object of intermittent drilling and small scale mining during the 1950s through 1990s resulting in a historical, non 43-101 compliant, estimated resource of more than 1.2 million ounces of 0.6 g/t gold average grade with higher grade zones to be delineated. This is an historical resource and the company has not yet completed sufficient work to confirm it and it therefore cannot be relied upon.

In 2009 Riverside Resources Inc. completed a drill program on the property that successfully substantiated a portion of the historical data, while testing the geologic model at depth. Drilling targeted the southern portion of the 4 km² surface gold anomaly and was not focused on duplicating previous work by twinning historical drill holes. Riverside completed five angled diamond drill holes on the property for a total of 1,125 meters to a maximum true depth of over 200 meters in any one hole.

The drill program consistently intercepted gold mineralization comparable to operating mines in the region, which include the El Chanate Mine (operated by Capital Gold), the Herradura Mine (operated by Newmont), and the Mesquite Mine (operated by New Gold). Results from the drill program can be found on the Property Details Page.

Historical Information

Riverside Resources Inc. completed an independent NI 43-101 technical report for the Sugarloaf Peak Gold Project near Quartzsite, Arizona (November 14, 2008). The report describes a number of historical non-NI 43-101 compliant resource estimations. These estimates are of historical resources and the Riverside geologic team did not complete sufficient work to confirm a NI 43-101 compliant resource. Therefore, the estimates cannot, and should not be relied upon. This historical resource estimation along with other estimations are summarized in the NI 43-101 technical report which is filed on www.sedar.com as well as made available on Choice Gold's website.

2009 Drill Program

Drilling by Riverside identified continuous mineralization in all five holes, confirming the presence of an extensive mineralized body to a depth greater than more than double the depth of that previously recorded in historical gold assay drill data. The drill program targeted mineralization that is associated with the geologic models found at the Herradura Mine (Newmont Mining Corp. Industrias Penoles), Mesquite Mine (New Gold Inc.), and El Chanate Mine (Capital Gold Corporation). Disseminated gold mineralization appears similar to that found with this drill program on the Sugarloaf Peak Gold Project. All of the mentioned deposits are large low cost open pit gold mines extracting low grade gold near surface.

Gold mineralization with continuously strong hydrothermal alteration was intersected in all five drill holes, confirming the presence of an extensive mineralized gold system. The mineralization includes shallow oxides transitioning to sulfides at varying depths of 10 to 15 meters from the surface and deeper zones along shear zone structures. All five drill holes confirmed the presence of an extensive mineralized gold system with gold mineralization from the top to bottom of the holes. The intervals were determined using a 0.2 g/t gold (Au) cut off with a maximum gap of two meters between intervals below the cut off grade. Historical results prepared by previous companies on the property presented the data using different parameters which identified longer intervals with no cut off grade. Riverside's parameters show numerous shorter intervals from the drilling rather than extended intervals.

Drilling intersected wide zones of mineralization within an altered rhyolite unit. The mineralization appears to be controlled geologically by both shallow and steeply dipping structures and quartz stockwork veining. This stratigraphic unit and associated structures have been traced across the property in surface mapping and extends for more than 3 kilometers NW-SE along strike. This undrilled structural corridor gives more than six other drill target areas that remain to be tested. In addition, mineralization has been sampled to the north, east and west of the historical resource outline.

Quantec Geoscience performed a Titan 24 deep penetrating IP survey at the Sugarloaf Peak Gold Project during the month of April, 2011. This cutting edge survey discovered a high chargeability anomaly with strike length of approximately 2,500 metres and width of up to 1,000 metres at places. The anomaly is located between depths of 200 metres and 600 metres as per the following diagrams listed in sections A-H. Red indicates high chargeability.


Gianni Kovacevic  -  CEO & Chairman
Mr. Kovacevic is a development strategist focused on the natural resource space.  Formerly with Petaquilla Minerals (TSX: PTQ) and Petaquilla Copper (TSX: PTC) as Manager of Corporate Development, he assisted in raising over $200M in equity and debt financing.  Mr. Kovacevic is currently the Chairman of Romulus Resources (TSX-V: ROM) and a Director of Legend Gold (TSX-V: LGN).

Dr. John-Mark Staude  -  Director
Dr. Staude has over 20 years of diverse mining and exploration experience in precious and base metals.  He currently serves as President & CEO of the optionor of the Sugarloaf Peak Gold Project, Riverside Resources (TSX-V: RRI).  He previously held positions of increasing responsibility with a number of major international mining companies including Kennecott, BHP-Billiton, and most recently Teck Cominco.  Dr. Staude earned an MSc from Harvard University in 1989 and a PhD in Economic Geology from the University of Arizona in 1995.

Terence S. Ortslan  -  Director
Mr. Ortslan is the Managing Director of TSO & Associates, a firm focusing on independent mining, metals and fertilizer research for a select few financial institutions.  Involved in the investment industry since 1975, he is a mining engineer that has worked for various resource companies in Ontario and Quebec.  His government, corporate and industry advisories are at an international scale.  Mr. Ortslan also serves on a few select mining boards as Director and Committee Chairperson.

Brigitte Dejou  -  Manager of Exploration
Ms. Dejou is a professional engineer with over 20 years of experience in mineral exploration.  Prior to joining Choice Gold, she spent 2 years as a Senior Geological Engineer with Osisko Mining Corporation and 18 years within Cominco and Teck Cominco managing various exploration programs.  Ms. Dejou brings to Choice Gold vast experience in running extensive, multimillion dollar exploration projects from grass-roots to pre-feasibility stage across North America.  She holds both a Bachelor of Engineering degree and a Masters of Applied Science degree from Ecole Polytechnique de Montréal and is a member of the Ordre des Ingénieurs du Québec.

Jamie Lewin  -  CFO
Mr. Lewin is a professional accountant who has more than 15 years experience in accounting and finance for private and public companies.  He has served as CFO of several public companies, is a Director and on the Audit Committee of Abenteuer Resources (TSX-V: ABU), and is a former Director of Lucky Minerals (TSX-V: LJ).  Mr. Lewin holds the CMA designation, an MBA with specialization in financial management from City University, and a Certification in Public Companies from Simon Fraser University.  In addition, Mr. Lewin holds a LLB from Laval University and a BA in Economics from the University of Western Ontario.


Board of Directors: 
Gianni Kovacevic - President, CEO, Chairman and Director
John-Mark Staude - Director
Terence S. Ortslan - Director

Corporate Secretary:
Loraine Pike

Registered & Principal Office: 
Choice Gold Corp.
1250 West Hastings St.
‪Vancouver, BC
V6E 2M4

Tel: 1.800.975.7152
Email: info@choicegoldcorp.com
Website: www.choicegoldcorp.com

Stock Exchange Listings: 
Canadian National Stock Exchange (CNSX) - Symbol CHF

ACAL Group Chartered Accountants
Suite 1850-1066 West Hastings St.
Vancouver, BC
V6E 3X2

Tel: 604.683.3850

Miller Thompson
Robson Court, 1000-840 Howe St.
Vancouver, BC
V6Z 2M1

Tel: 604.687.2242

Share Registry: 
Computershare Trust Company of Canada
510 Burrard St., 2nd Floor
Vancouver, BC
V6C 3B9                 Tel: 604.661.9400


FORM 7  
Name of CNSX Issuer: CHOICE GOLD CORP. (the "Issuer").
Trading Symbol:  CHF
Number of Outstanding Listed Securities:                            46,108,872
Date:                        March 6, 2012
Report on Business
1. Provide a general overview and discussion of the development of the Issuer's business 
and operations over the previous month.  
Sugarloaf Peak
The Issuer is a junior mineral  exploration and development company focused on the 
acquisition and advancement of select, high-potential mineral projects.  The Issuer has the option 
to acquire a 100% undivided interest in and to the mineral claims known as the Sugarloaf Peak 
Property ("Sugarloaf Peak", the "Property", or the "Project") located in Oro Fino Mining District, La 
Paz County, Arizona.  
Phase 1A Drilling
Please see our previous Monthly Progress Reports for information regarding the  first 
phase of our drilling program and  results. In particular, the November 2011 report contains 
information regarding the Phase 1A results and our mapping campaign.
Phase 1B Drilling
In February, we initiated the phase 1B drilling program consisting of approximately 15 RC 
holes of up to 100 metres in depth.  Most of phase 1B is a follow up to the 2,012 metres of 
diamond drilling that was completed as phase 1A in 2011.  All the holes drilled in 2011 returned 
anomalous values of gold over the first 100 metres and tested only a small portion of the broad 
altered and mineralized area defined by the mapping and sampling program at the surface.  The 
goal of the present campaign is to discover intervals of economical grades, confirm the controls 
for the mineralization, define the main gold mineralogical assemblage, and start defining a 
resource.  Choice Gold has combined the results of its 2011 mapping and drilling campaign with  
program undertaken in February paid particular attention to:
1. finding the extension of the mineralization intersected in hole SGL-11-04 which returned 1.76 
g/t Au over 9.91 meters (as per our press release of October 6, 2011) including one sample 
of 5.98 g/t Au over 0.61 meters, within an iron oxide rich interval;
2. verifying some of the best reported grades intersected in historical holes in addition to testing 
other gold mineralized areas over the property;
3. verifying at depth those surficial gold anomalous areas returning multi-gram Au values inside 
and outside of the historically known mineralized central zone, including 11.9 g/t Au in the 
blue schist (see our press release of November 18, 2011).
Most of these areas were never tested in the past.  The portion on which drill testing is planned 
represents a surface area of approximately 3 square kilometers, which is about 4 times the size 
of the historically known mineralized central zone.
Sampling Procedure
We are sampling all the RC holes successively from the top to the bottom of each hole 
following rigorous QAQC procedures.  These QAQC procedures include the insertion of blanks, 
standards, and duplicates.  Representative samples will be separated through a rotary cyclone 
splitter then one portion will be homogenized through a 2-chute universal splitter.  The 
homogenized samples will then be shipped to a certified laboratory to be pulverised and analyzed 
for Au by the fire assay method and for a suite of trace elements using the ICP method.  Excess 
rock material will be stored at the Company's facilities in Ehrenberg, Arizona.  Results of the 
drilling will be published intermittently when available.
2. Provide a general overview and discussion of the activities of management.
In  February, the  Issuer  continued its efforts to continue  its investigative work to advance the 
property towards a NI 43-101 compliant mineral resource on the Sugarloaf Peak property.
3. Describe and provide details of any new products or services developed or offered. For 
resource companies, provide details of new drilling, exploration or production programs 
and acquisitions of any new properties and attach any mineral or oil and gas or other 
reports required under Ontario securities law.
We have continued our program of activities on the Sugarloaf Peak Property. 
4. Describe and provide details of any products or services that were discontinued. For 
resource companies, provide details of any drilling, exploration or production programs 
that have been amended or abandoned.
This does not apply to the Issuer.
5. Describe any new business relationships entered into between the Issuer, the Issuer's 
affiliates or third parties including contracts to supply products or services, joint venture 
agreements and licensing agreements etc. State whether the relationship is with a 
Related Person of the Issuer and provide details of the relationship.
This does not apply to the Issuer.
6. Describe the expiry or termination of any contracts or agreements between the Issuer, 
the Issuer's affiliates or third parties or cancellation of any financing arrangements that 
have been previously announced.
This does not apply to the Issuer.
7. Describe any acquisitions by the Issuer or dispositions of the Issuer's assets that 
occurred during the preceding month.  Provide details of the nature of the assets 
acquired or disposed of and provide details of the consideration paid or payable together 
with a schedule of payments if applicable, and of any valuation. State how the 
consideration was determined and whether the acquisition was from or the disposition 
was to a Related Person of the Issuer and provide details of the relationship.
This does not apply to the Issuer.
8. Describe the acquisition of new customers or loss of customers.
This does not apply to the Issuer.
9. Describe any new developments or effects on intangible products such as brand names,  
circulation lists, copyrights, franchises, licenses, patents, software, subscription lists and 
This does not apply to the Issuer.
10. Report on any employee hirings, terminations or lay-offs with details of anticipated length 
of lay-offs.
This does not apply to the Issuer.
11. Report on any labour disputes and resolutions of those disputes if applicable.
This does not apply to the Issuer.
12. Describe and provide details of legal proceedings to which the Issuer became a party, 
including the name of the court or agency, the date instituted, the principal parties t
to the 
proceedings, the nature of the claim, the amount claimed, if any, if the proceedings are 
being contested, and the present status of the proceedings.
This does not apply to the Issuer.
13. Provide details of any indebtedness incurred or repaid by the Issuer together with the 
terms of such indebtedness.
This does not apply to the Issuer.
14. Provide details of any securities issued and options or warrants granted.
Security Number 
Details of Issuance Use of 
Common shares 250,000 In February 2012 we issued 250,000 
common shares as a penalty under 
the option agreement with Riverside 
Resources Inc.
 (1) State aggregate proceeds and intended allocation of proceeds.
15. Provide details of any loans to or by Related Persons.  This does not apply to the Issuer.
16. Provide details of any changes in directors, officers or committee members.
There have been no changes since the last report, as of the date of this report the board of  directors is as follows:
Directors: Gianni Kovacevic
John-Mark Staude
Terence S. Ortslan
Officers: Gianni Kovacevic - President & CEO
Jamie Lewin - Chief Financial Officer
Mac Bell - Senior VP
The audit committee has the following members:
 Gianni Kovacevic,
 John-Mark Staude, and 
 Terence S. Ortslan
17. Discuss any trends which are likely to impact the Issuer including trends in the Issuer's  market(s) or political/regulatory trends.
This does not apply to the Issuer. 
Certificate Of Compliance
The undersigned hereby certifies that:
1. The undersigned is a director and/or senior officer of the Issuer and has been duly  authorized by a resolution of the board of directors of the Issuer to sign this Certificate of  Compliance.
2. As of the date hereof there is no material information concerning the Issuer which has  not been publicly disclosed.
3. The undersigned hereby certifies to  CNSX that the Issuer is in compliance with the  requirements of  applicable securities legislation (as such term is defined in National 
Instrument 14-101) and all CNSX Requirements (as defined in CNSX Policy 1).
4. All of the information in this Form 7 Monthly Progress Report is true.
Dated  March 6, 2012
Mac Bell
Name of Director or Senior Officer  "Mac Bell"
Signature  Senior VP
Official Capacity
Issuer Details
Name of Issuer   CHOICE GOLD CORP.
For  Month End  February 29,    2012
Date of Report   2012/03/06
Issuer Address
Suite 1110 - 925 West Georgia Street
City/Province/Postal Code
Issuer Fax No.  ( 604) 408-9301
Issuer Telephone No.   (800) 975-7152
Contact Name
Mr. Mac Bell
Contact Position  Senior VP
Contact Telephone No.   (800) 975-7152
Contact Email Address   info@choicegoldcorp.com
Web Site Address   www.choicegoldcorp.com

Current Price
Bid Ask Day's Range
  • 1D
  • 1M
  • 2M
  • 3M
  • 6M
  • 1Y
  • 2Y
  • 3Y
  • 5Y
#4   I agree. Must be pretty pricey though, but Prodigy 04/06/12 06:45:44 PM
#3   This is the type of information that should lmcat 04/06/12 12:54:44 PM
#2   Nice DD lmcat! Prodigy 04/06/12 11:47:17 AM
#1   Choice Gold Corp. Intersects More Gold at Sugarloaf lmcat 04/06/12 10:10:06 AM
Consent Preferences