Event:We are addingEnforcer Gold’s(TSXV:VEIN)to our formalWatch Listafter recently visiting the Company’s Montalembert gold project, 125km west of Chibougamau, Quebec. VEIN recently launched a 5,000-8,000m drilling campaign focused on testing the strike continuity and depth extent of the main high-grade Galena and No. 2 Veins. The drilling will also target a hydrothermal breccia, which reportedly yielded a 20m interval containing 2-20% sulphides and visible gold in historic drilling, ~4km northwest of the main veins.At the time of our visit, VEIN had completed 11 holes, with initial assay results expected in August.

Drill Program:The 50-100-hole drill campaign is designed to initially test the veins at 25-50m centres, and to a vertical depth of ~200m. Drilling will employ HQ-sized (63.5mm diameter) coring equipment to provide a more representative sample and visual representation of the geology and mineralization, compared with the EX- or AX-sized core (22-30mm) employed during previous drilling in the 1950s. Likewise, VEIN plans to process the samples via the metallic screen method (1,000g) to help mitigate the nugget effect (Exhibit 2). The method involves crushing, pulverizing and screening the entire sample, then separating 1kg of the final prepared pulp over a 100-micron dry screen. The coarse (+100) and fine (-100 ) fractions are then separately analyzed via standard fire assaying and the weighted average grade reported.

No. 2 Vein Details:The No. 2 (and Galena) Vein was originally discovered in 1949 (See work history in Exhibit 9). Three holes drilled by N.A. Timmins (1938) Inc. below the vein (and 7 below Galena) in 1950 reportedly contained multiple veins and mineralization, but assay results are unavailable. More recent channel sampling by VEIN and Globex Mining (GMXR:TSX, NR) in October 2016 saw 122 samples collected from 25 channels (3m apart), with assay results highlighted by the following:

  • Channel D109955 – 0.75m at8.88g/t Auand 2.6g/t Ag;
  • Channel D109952 – 1.1m at39.35g/t Auand 14.4g/t Ag;
  • Channel D109580 – 0.95m at5.07g/t Au; and
  • Channel D109891 – 0.9m at4.56g/t Auand 1.8g/t Ag.

Exhibit 2 highlights the updated metallic screen re-assays. Grab sampling in the area is highlighted by samples D107317, D107315, and D107311, which returned84.04g/t Au, 36.26g/t Au,and17.26g/t Au, respectively. Grab sampling 27m to the north returned up to64.48g/t Au.

More recently, VEIN reported initial assay results from additional channel sampling on the No. 2 Vein, including MCH225702, which previously returned VG in quartz (Exhibit 7), and assayed3,310g/t Au over 1.0m. A second channel, MCH225703, ~20m to the north returned 1.93g/t over 1.0m, demonstrating the vein’s continuity, and also its nuggety nature.

The No. 2 Vein is a north-south striking and steeply east-dipping shear zone ~80m east of the sub-parallel Galena Vein. Previous operators stripped No. 2 over 89m of strike; VEIN has since increased this to~189m(Exhibits 3 & 4). The vein remains open to the north and south.

At the time of our site visit, VEIN had completed five drill holes on the No. 2 Vein, including one exhibiting visible gold (Exhibit 8). Initial assays are expected in August.

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