Precore Gold’s ($PRCG) Southern Peru Gold Opportunity Explained

Nordic Funds May 11, 2026

Summary

Precore Gold's flagship Arikepay project in southern Peru may hold gold that 2012 and 2017 drilling missed.

Previous holes drilled vertically to chase copper porphyry supergene zones, leaving angled gold-bearing structures untested.

Phase 1 drilling targets roughly 3,000-5,000 meters, using 200-meter step-outs and a duplicate of the best historical hole.

At a 9 million market cap and 32 million shares, management says Phase 1 can be funded without heavy dilution.

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The guest says IAM Gold has consolidated the Quebec mining camp that hosts Precore Gold's Lac Big Rush property and now holds an inferred resource of about 8.6 million ounces of gold across several deposits, one of which he puts at 640,000 ounces grading 1.7 g/t.
He points to that consolidation as part of the reason Precore Gold moved into the camp, and names IAM Gold alongside Anglo American as a past employer of the company's geological consultant in Peru.

The guest says the project's geological consultant Dr. Jacques Tréttier discovered the Shindo mine, which was later bought out by Pan American Silver, and offers it as evidence the Peru team has discovery experience.

Top takeaway He frames his investment case around four pillars he applies to every deal - the asset, the depth and track record of management, the jurisdiction and the capital structure - and argues Precore Gold ticks all four at this early stage.
He argues that Peruvian mining risk is overstated for Scandinavian investors: mining is about 12% of GDP and 60% to 65% of exports, tier-one producers operate there, and he does not expect the government to overturn rules that welcome international investment.
On the technical case he says earlier operators drilled vertically to hunt for a supergene enrichment envelope in a porphyry, whereas the multi-intrusive system should be tested with angled holes that cut across several intrusions at once.
He sees an open-pit scenario rather than a deep underground one, with overburden of 10 to 30 metres and every historical hole hitting mineralization 10 to 30 metres down, plus collars 300 metres to a kilometre apart leaving room to add tonnage.
He ties his own position to the thesis, saying he is a large shareholder along with family and friends and expects Phase 1 results to lift the share price and re-rate the asset, with management quality first among his three reasons to invest.