Gold79 Mines names Macpherson as CEO

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Gold79 Mines Ltd. [AUU-TSXV; AUSVF-OTC] on Wednesday March 24 said it has appointed Derek Macpherson as the company’s new President and CEO. He will join the company in his new role on May 1, 2021.

Macpherson holds an MBA from the Schulich School of Business (part of York University, Toronto, Ont.)  and is currently Senior Vice-President Investment Banking at Red Cloud Securities Inc.

Gold79 (formerly Aura Resources Inc.) is run by a highly experienced management team and can call on the expertise of director James Franklin, a geoscientist and Canadian Mining Hall of Fame member, who spent much of his long career documenting the complex evolution of the Canadian Shield and its link to its phenomenal mineral wealth.

The company holds a 100% earn-in option and or purchase agreements on three gold projects. The two priority projects are located in Nevada. They are the Jefferson Canyon and Tip Top gold projects. The third is located in Arizona and is known as the Gold Chain Project.

All three are located along the north-west trending Walker Lane, a structural lineament, which played an integral role in the history of Nevada, beginning in 1859 with the discovery of the Comstock Lode.

“I am excited to join Gold79 at this pivotal time for the company,” Macpherson said. “As we get ready to drill the prospective Gold Chain project in Arizona, we should be able to unlock the currently unrecognized value of Gold79 for shareholders,” he said.

The Gold Chain Project is located 20 km northwest of Bullhead City, western Arizona on Bureau of Land Management Lands. The property has numerous exposures comprised of epithermal-style gold mineralization. These are contained within an area of about 10 km2. Historical data from the 1980s, including several phases of reverse circulation drilling, have identified broad zones of oxide gold mineralization, ie. 0.5 to 1.6 g/t gold.

Gary Thompson, Executive Chairman and the current CEO said he remains committed to Gold79’s future success in his ongoing role as Chairman.

Prior to completing his MBA, Macpherson worked for six years as a metallurgist. For the past 10 years, he has worked in capital markets, primarily in mining equity research and for the most part, covering junior mining companies.

On Wednesday, Gold79 shares eased 5.5% or $0.005 to $0.085 on volume of 290,750. The shares are currently trading in a 52-week range of 14 cents and $0.03.

 


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