Investor Insight
55 North Mining is advancing a high-grade gold asset in Manitoba with clear exploration upside and strategic proximity to a permitted, under-construction mill, positioning the company as a potential near-term production or acquisition candidate in a strong gold price environment.
Overview
55 North Mining (CSE:FFF,FSE:6YF) is a Canadian exploration and development company focused on advancing its 100 percent-owned Last Hope gold project in the Lynn Lake region of northern Manitoba. The company’s strategy centers on unlocking value from a high-grade gold system through systematic drilling, resource growth and disciplined capital allocation, while maintaining strategic optionality in a rapidly developing mining district.
The Last Hope project hosts a high-grade, structurally controlled gold resource and benefits from proximity to established infrastructure, including paved road access, power and a regional airport. Importantly, the project lies near Alamos Gold’s Lynn Lake development, creating potential future synergies such as toll milling or satellite feed scenarios, subject to further technical and economic studies.
55 North is led by an experienced management team with deep technical and capital markets expertise and a long history in the Lynn Lake camp. This background informs the company’s focused, single-asset strategy aimed at advancing Last Hope efficiently while positioning the asset for multiple potential development pathways.
Company Highlights
- High-grade Last Hope gold project has a current resource of 273,800 ounces inferred at 5.48 grams per ton (g/t) gold and 71,100 ounces indicated at 5.41 g/t gold
- Significant exploration upside, with mineralization open down-plunge and along strike
- Located approximately 20 kilometres from Alamos Gold’s Lynn Lake project, which includes a new 10,000-tonne-per-day mill under construction
- Operating in a safe, mining-friendly jurisdiction with established infrastructure and a long history of mining activity
- Impact Benefit Agreement in place with the Marcel Colomb First Nation, supporting social license and community engagement
- Led by a management team with a track record of discovering, developing and monetizing assets in the Lynn Lake camp, including the sale of Carlisle Goldfields to Alamos Gold in 2016
Key Project
Last Hope Gold Project
The Last Hope gold project is located approximately 20 kilometres southeast of Lynn Lake, Manitoba, and comprises 31 mineral claims covering roughly 50 square kilometres. The project is accessible by road and all-season trail, within a well-established mining district with a long history of gold and base metal production.
Geologically, Last Hope is a Precambrian-aged lode gold system situated within the Lynn Lake Greenstone Belt of the Churchill Structural Province. Mineralization is hosted in two near-vertical, tabular quartz-pyrite veins averaging approximately 3.5 metres in width. The deposit remains open along strike, particularly to the south, and at depth, supporting meaningful exploration upside.
The current NI 43-101 mineral resource estimate outlines 71,100 ounces of indicated gold and 273,800 ounces of inferred gold, both at grades exceeding 5 g/t gold. The resource is defined by 184 drill holes and includes numerous high-grade intercepts from both historical and recent drilling programs. With drill permits in place, 55 North is preparing to advance further drilling to test down-plunge extensions and expand the existing resource footprint.
With gold-sector consolidation accelerating and producers prioritizing high-grade ounces in established camps, 55 North is advancing Last Hope for strategic optionality. The company’s focus on resource growth and technical de-risking enhances the project’s relevance within the Lynn Lake district, positioning it for multiple value-creation outcomes, including potential strategic interest or acquisition.
Management Team
Bruce Reid – President and Chief Executive Officer
Bruce Reid is a geologist and mining executive with more than 35 years of industry experience. He previously served as chairman, president and CEO of Carlisle Goldfields, which was sold to Alamos Gold in 2016. Reid has founded and led multiple mining companies across North America and holds B.Sc. in Geology from the University of Toronto and a finance degree from the University of Windsor.
Julio DiGirolamo – Chief Financial Officer
Julio DiGirolamo is a chartered professional accountant with over 30 years of senior-level public company experience. He previously served as CFO of Carlisle Goldfields and brings extensive expertise in financial management, reporting and governance within the mining sector.
Sandra Jackson – Director
Sandra Jackson is a member of the Sagkeeng First Nation and holds a degree in economics from the University of Manitoba. She has more than three decades of experience in community, economic and institutional development, with a focus on Indigenous governance and engagement.
Herbert Urton – Director
Herbert Urton is a seasoned business executive with experience developing and managing companies at regional, national and international levels. He is currently president and CEO of Resortco Properties and a founding partner of One Sky Group, with expertise spanning hospitality, forestry and resource-related industries.
Vance Loeber – Corporate Development
Vance Loeber combines over 30 years of international experience with an extensive network to connect US and European investors with the capital needs of public resource companies. His track record includes securing major funding for large-scale projects, such as the launch of U.S. Silver and the multi-million dollar capitalization of Sandspring Resources.