Seahawk Ventures Inc (CNSX:SHV) Second-Largest Landowner in Urban-Barry Gold District
Seahawk Ventures Inc (CNSX:SHV) (OTCMKTS:SEHKF) (FRA:7SR) President and VP Exploration Mitchell Lavery shares details of the company’s operations in the Urban-Barry gold district. Seahawk Ventures is the second-largest landholder in the Urban-Barry district, located in the Abitibi greenstone belt in Quebec. The company owns 25,000 hectares split between 5 properties. Seahawk Ventures is currently completing its airborne geophysical survey and Lavery notes that much of the eastern portion of the property has never been surveyed by air. Seahawk Ventures plans to drill between 10 and 15 holes this summer and its priority target is its Touchdown Property with 27 g/t of gold.
Narrator: Seahawk Ventures, Inc. is a Canadian resource exploration company, and the second-largest landowner in the Urban Barry Greenstone Belt in the Abitibi sub-province of Quebec, Canada.
Seahawk currently owns five properties in the region, and is the busiest gold exploration camp in Canada.
Seahawk Ventures, Inc. is listed on the CSE under the ticker symbol SHV.
Ed Milewski: I’m joined now by Mitchell Lavery, President of Seahawk Ventures.
Mitchell Lavery: That’s right.
Ed Milewski: Ticker SHV on the CSE.
Mitchell Lavery: On the CSE.
Ed Milewski: And you’re a geo?
Mitchell Lavery: I’m a geo.
Ed Milewski: And we’ve met several times over the years, but neither one of us can remember, exactly.
Mitchell Lavery: Exactly. [laughter]
Ed Milewski: Great to have you here, Mitch.
Mitchell Lavery: Thank you very much.
Ed Milewski: Yeah, yeah. So, Seahawk: grassroots operation?
Mitchell Lavery: Grassroots operation with a large – second largest land package in the Urban Barry Gold Belt.
Ed Milewski: Urban Barry. Now, that’s a famous gold belt, I take it?
Mitchell Lavery: Well, it’s certainly the, it’s the gold belt you’re hearing a lot of news right now from, because of the Bonterra situation and the Osisko situation.
Ed Milewski: Okay, so Bonterra and Osisko. I’ve been hearing a lot about Bonterra.
Mitchell Lavery: Yep. Bonterra, they have their mine, the Bachelor Lake Mine on care and maintenance, and they have their Barry pit right now on care and maintenance, and they have their Gladiator, which is the old Bonterra property, that’s also waiting for permitting. Windfall is going ahead, from what I understand, with the Windfall Zone. They have just announced that they’re splitting in two: one operating company, one exploration company. So I think that’s really good news for everybody in the area.
Ed Milewski: Okay, okay. So specifically, how many hectares do you have?
Mitchell Lavery: We have somewhere in the neighbourhood of 25,000 hectares split up among five different properties, from large to very, very small.
Ed Milewski: Okay, okay. And okay, so, let’s talk about the share structure. You have not a lot of shares outstanding.
Mitchell Lavery: No, we have about 30 million outstanding, and the insiders own about 50 percent of that.
Ed Milewski: Okay, okay. And –
Mitchell Lavery: And no overhang, no warrants, no nothing.
Ed Milewski: Right, right. And what about cash in the bank?
Mitchell Lavery: Cash in the bank, we have about $800,000, which is super Quebec flow-through, and about $100,000 hard dollars right now. And that’s one of the things I’m doing, is try to raise more hard dollars so I can be comfortable in what I’m doing.
Ed Milewski: And so, you got all this land, it hasn’t really been drilled to any great degree…
Mitchell Lavery: That’s right.
Ed Milewski: So you don’t know, I mean, you’re looking for gold, but you could also find base metals.
Mitchell Lavery: I could, I could.
Ed Milewski: There’s a zinc mine nearby.
Mitchell Lavery: That’s right. Eight kilometres south of our Blitz property, which is the extreme western property on the Urban Barry belt, is the Langlois Mine, which Nystar owns.
Ed Milewski: And that’s been in production –
Mitchell Lavery: It’s been in production for about 15 years, now.
Ed Milewski: Okay. Okay. So now, do you have any drilling programs set up at this point? Are you planning on doing some drilling this year?
Mitchell Lavery: Absolutely. We have just completed an airborne detailed mag on the Blitz, which is the west end; next week we will be flying the Skyfall, which is on the east end. We’ve already done the airborne geophysics on the central properties, so we have targets already on the central properties, and we’ll, when we analyze the new geophysical data, I’m sending in, I’ve got a prospecting crew all ready to go when the snow is gone. So I’m looking at somewhere in the neighbourhood of 10 to 15 holes this summer.
Ed Milewski: Now how, this property, because I’m not that familiar with it, to be honest with you – but is there infrastructure there? Is there, like, any roads?
Mitchell Lavery: All kinds of roads. This is a big logging area.
Ed Milewski: And power is pretty cheap in Quebec, right?
Mitchell Lavery: Power is the cheapest in Quebec.
Ed Milewski: I mean, you’d think Ontario would have done a deal with them. Don’t get me going, don’t get me going. Anyway, so you got power, you got roads, you’ve raised some money –
Mitchell Lavery: Yeah, and we’ve got suppliers, and we’ve got hotel rooms and whatever else.
Ed Milewski: Yeah, and you’ve got lots of experience in the company.
Mitchell Lavery: Yep.
Ed Milewski: So, no novices making mistakes.
Mitchell Lavery: No. I think I’ve been around since graduation, about 45 years. And the day I graduated, I moved from London, Ontario to Toronto, Ontario and started working for a mining company.
Ed Milewski: So you lived in London?
Mitchell Lavery: I did. I graduated from Western.
Ed Milewski: So you know where the Ceeps is?
Mitchell Lavery: I do. I do.
Ed Milewski: So you say, half the shares are owned by management, basically?
Mitchell Lavery: Management and –
Ed Milewski: Close associates, friends?
Mitchell Lavery: Close associates, yes.
Ed Milewski: Okay. So you got a structure that, if you get some action, it’s going to move.
Mitchell Lavery: Exactly, exactly. And very, very loyal shareholders.
Ed Milewski: And outside of management, are there any institutional holders, or is it just basically high net worth investors?
Mitchell Lavery: Basically high net worth, at this point.
Ed Milewski: Okay. Is there anything you want to add at this point?
Mitchell Lavery: That we’re completing these airborne surveys and we’re ready to go when the snow is gone, and the one intriguing part is our easternmost property, the Skyfall, half the property has never been flown. It’s a 12,000 hectare property. So we’re looking at – I’m expecting to get some really good surprises there. Well, I’m expecting to get good surprises everywhere. Our one party target right now is what we call our Touchdown property, where there have been two samples taken off it, one assay 27 grams per tonne gold, the other assay 11.
Ed Milewski: What kind of widths?
Mitchell Lavery: Just grab samples, so there would be no width.
Ed Milewski: Okay. So the fact that Osisko’s in the area, did you say that they’re splitting up into an exploration company and a producing company?
Mitchell Lavery: That’s what I’m led to understand, and I talked to the Osisko people a couple of days ago and they confirmed it.
Ed Milewski: So that would be good, because they’re obviously big shareholders in the area.
Mitchell Lavery: Absolutely, they’re the biggest landholder in the area. Huge, huge package of land.
Ed Milewski: Wow, wow. And the price of gold? I mean, I know it jumped today, and it seems to jump when the markets get ugly. Certainly not a bad price point for gold in Canada.
Mitchell Lavery: Absolutely. People forget that gold is quoted in US dollars, and we work in Canadian dollars.
Ed Milewski: Okay, Mitch, thanks a lot.
Mitchell Lavery: Thank you.
Ed Milewski: I appreciate having you here, and at some point in the future when you’re drilling, we’d like to have you back and get an update.
Mitchell Lavery: Thanks very much.
Ed Milewski: Okay. Thank you very much.
Mitchell Lavery: Anytime.
Ed Milewski: Thank you. Thanks a lot.
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