The record gold price has prompted Canadian-focused Targa Exploration (CSE: TEX; US-OTC: TRGEF) to change tack, CEO Cameron Tymstra said in an interview.
Targa acquired the Opinaca project in Quebec from Kenorland Minerals (TSXV: KLD; US-OTC: KLDCF), initially for its lithium potential due to its proximity to Patriot Battery Metals’ (TSX: PMET; US-OTC: PMETF; ASX: PMT) large Corvette lithium pegmatite deposit. But the project also has excellent gold potential, Tymstra said.
“The discovery of two large gold anomalies at Opinaca has led us to pivot our focus from lithium to gold exploration,” he said in an interview at the Rule Symposium in July. “We believe this strategic shift will create more value for our shareholders, especially given the current strength of the gold market.”
Targa recently completed a new exploration phase at Opinaca, with assay results expected by August. Last year, with a portfolio of about 15 early stage projects across Canada, Targa’s strategy focused on lithium discovery.
Watch the full interview with The Northern Miner’s western editor, Henry Lazenby, below:
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