Bulls N' Bears with Matt Birney
Aug 13, 2026 · 3 min · 5 segments
Elk Range Mining IPO: This US gold project is anything BUT Greenfields! ASX-listed Elk Range Mining Chief Executive Officer Ed Keys talks to Matt Birney on Bulls N’ Bears about Elk’s IPO and its…
Ed KeysGuest
Matt BirneyHost
Okay, so Elk Range Mining rang the bell at the ASX this week after pocketing about $10 million to focus on its Idaho gold project.
The project comes replete with three gold prospects, an historic underground mine and even a permitted processing plant.
The Old Friday mine is the standout for now, however, with previous operators mining it and just Briefly before COVID-era supply problems shut the gate at the project, Elk Range has already signed a driller for a maiden campaign designed to test some high-grade numbers that were there historically, and they're certainly very good numbers.
Now, Ed, as I see it, directly under that old Friday mine, under the old workings, it looks like some pretty good opportunities there.
The first hole that we're going to be drilling in our maiden drilling campaign at Friday, it's going to be confirming existing high-grade mineralization.
at 5.4 grams per tonne, and this intercept ended in 133 grams per tonne at the end of hole.
This was drilled 12 years ago, and it hasn't been followed up, and quite honestly, if these kind of monster grades existed in WA, they would have been hammered right off the bat.
Now, when I look at your cross-sections, you're sort of modelling a much deeper plunging load.
We're excited to continue following up on that existing de-risked mineralization underneath the existing development, underground development at Friday.
So we're going to be following up those plunging chutes at 54 meters at 5.62 grams per ton.
So this initial maiden drilling campaign, not only is it confirming high-grade mineralization, but we're filling in those pierce points and the holes left in the foreign resource so that we can extend that resource depth.
as well as extensions along strike working towards an efficient conversion into JORC standard.
Yeah, well let's talk about along strike because it looks like you've got a hell of a lot of strike if you look at some of those soil samples, particularly to the south, right?
We've got five kilometres of soil anomalism that's contiguous straight up along strike from this historical mine.
surface.
We've got a long strike from an existing underground gold mine with very limited surface drilling.
Okay, so Elk Range Mining rang the bell at the ASX this week after pocketing about $10 million to focus on its Idaho gold project.
The project comes replete with three gold prospects, an historic underground mine and even a permitted processing plant.
The Old Friday mine is the standout for now, however, with previous operators mining it and just Briefly before COVID-era supply problems shut the gate at the project, Elk Range has already signed a driller for a maiden campaign designed to test some high-grade numbers that were there historically, and they're certainly very good numbers.
Now, Ed, as I see it, directly under that old Friday mine, under the old workings, it looks like some pretty good opportunities there.
The first hole that we're going to be drilling in our maiden drilling campaign at Friday, it's going to be confirming existing high-grade mineralization.
at 5.4 grams per tonne, and this intercept ended in 133 grams per tonne at the end of hole.
This was drilled 12 years ago, and it hasn't been followed up, and quite honestly, if these kind of monster grades existed in WA, they would have been hammered right off the bat.
Now, when I look at your cross-sections, you're sort of modelling a much deeper plunging load.
We're excited to continue following up on that existing de-risked mineralization underneath the existing development, underground development at Friday.
So we're going to be following up those plunging chutes at 54 meters at 5.62 grams per ton.
So this initial maiden drilling campaign, not only is it confirming high-grade mineralization, but we're filling in those pierce points and the holes left in the foreign resource so that we can extend that resource depth.
as well as extensions along strike working towards an efficient conversion into JORC standard.
Yeah, well let's talk about along strike because it looks like you've got a hell of a lot of strike if you look at some of those soil samples, particularly to the south, right?
We've got five kilometres of soil anomalism that's contiguous straight up along strike from this historical mine.
surface.
We've got a long strike from an existing underground gold mine with very limited surface drilling.
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