"My belief is TNR's Shotgun Gold Project can potentially grow and become a foremost, immediate satellite site Gold deposit to Donlin Gold's Mining Camp infrastructure. This vision is based on our exploration work and academic studies like the ones from Dr Tim Baker in which Shotgun Gold Project is not only listed alongside Donlin Creek as one of the "Major Porphyry Gold Deposits" but is also projected to contain the similar porphyry intrusion-related type system as Donlin."
Kirill Klip, Executive Chairman,
TNR Gold Corp.
GEM Royalty TNR Gold Corp.
“TNR Gold Corp is your gateway to the green energy rEVolution and gold stability! We're building a leading green energy metals royalty and gold company, offering a unique entry into the supply chains powering the energy transition. With a 1.5% NSR royalty (of which 0.15% is held on behalf of a shareholder) on the Mariana Lithium Project in Argentina, operated by Ganfeng Lithium, and a 0.4% NSR (of which 0.04% is held on behalf of a shareholder) on the massive Los Azules Copper Project with McEwen Mining—backed by giants like Rio Tinto and Stellantis—we’re positioned for significant cash flows without the capital burden. Add to that our 90% stake in the Shotgun Gold Project in Alaska, near the Donlin Gold deposit, with 705,960 ounces of inferred gold resources, and we’re a diversified powerhouse. TNR delivers exposure to lithium, copper, silver and gold, blending blue-sky discovery with partnerships that drive value—perfect for investors seeking growth and a hedge in today’s economic cycle!”
Kirill Klip, Executive Chairman,
TNR Gold Corp.
“We are building The Green Energy Metals Royalty and Gold Company. Our business model provides the unique entry point into the creation of supply chains for critical materials like energy metals which are powering Tesla Energy rEVolution and Gold industry which is providing the ultimate hedge during this part of the economic cycle. Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of mining cycle: starting with the power of blue sky discovery and including partnerships with industry leaders like McEwen Mining, Ganfeng Lithium and Lundin Mining as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.”Kirill Klip, Executive Chairman,
TNR Gold Corp.
"Hi, I'm Kirill Klip, Chairman and CEO of TNR Gold Corp. We're at the forefront of the green energy metals sector, with royalty interests in world-class projects like the Mariana Lithium Project and the Los Azules Copper Project in Argentina. The demand for lithium, copper, and other critical metals is surging as the world accelerates its shift towards sustainable energy. At TNR Gold, we're strategically positioned to benefit from this trend, offering investors exposure to the future of energy while maintaining a strong foothold in the gold market. With recent advancements in our key projects, such as Ganfeng Lithium's starting production at Mariana Lithium and McEwen Mining securing environmental permits for Los Azules, we're poised to generate significant value through our royalty interests. My extensive experience in mining and my commitment to sustainable practices drive our mission to contribute to a greener future."
Kirill Klip, Executive Chairman,
TNR Gold Corp.
Angela Harmantas from Proactive wrote about the new report on TNR Gold from Fundamental Research Corp:
"TNR Gold’s portfolio spans various mining assets, with a key focus on its Shotgun gold project in Alaska and royalties in two advanced-stage projects in Argentina: the Mariana lithium project, owned by Ganfeng Lithium, and the Los Azules copper-gold project, held by McEwen Copper."
"TNR Gold is about to make a strategic shift in its business model and position itself as a revenue-generating royalty firm, according to analysts at Fundamental Research Corp.
Production began earlier this year at the Mariana lithium project, owned by China’s Ganfeng Lithium, with TNR set to begin receiving royalty payments as early as the fourth quarter of 2025.
Based on current spot lithium prices, Fundamental Research estimates annual royalty revenue from Mariana could reach C$1 million." (Angela Harmantas)
"The company's other flagship royalty asset is on the Los Azules copper-gold project in Argentina, controlled by privately held McEwen Copper Inc, a division of McEwen Mining Inc (TSX:MUX, NYSE:MUX). The large-scale, open-pittable deposit holds an estimated 38 billion pounds of copper, 4.7 million ounces of gold, and 159 million ounces of silver. McEwen plans to complete a resource update and feasibility study this quarter, with construction targeted for 2026 and production slated to start by 2029.
FRC projects that TNR’s royalty from Los Azules could generate annual revenues of up to C$10 million at current copper prices.
The firm reiterated its Buy rating and increased a fair value estimate from C$0.28 to C$0.30 per share, compared with a current trading price of C$0.09." (Angela Harmantas)
Disclaimer: Please be aware that any opinions, estimates or forecasts regarding the performance of TNR Gold Corp. in any research reports do not represent the opinions, estimates or forecasts of TNR Gold Corp. or of its management.
"Elsewhere, at the Shotgun gold project in Alaska, TNR is actively seeking a JV partner to advance the project to a Preliminary Economic Assessment (PEA). Shotgun hosts inferred resources totaling 706 Koz of gold at a grade of 1.1 grams per tonne. Analysts believe the project has expansion potential, with the Shotgun Ridge deposit remaining open along strike and at depth." (Angela Harmantas)
Please read my legal disclaimer. There is NO investment advice on any of Kirill Klip's feeds and blogs. Always consult a qualified financial adviser before making any investment decisions.
Do Your Own Research.
TNR Gold – AmeriGold – Shotgun Gold
The Company’s strategy with the Shotgun Gold Project is to attract a partnership with one of the major gold mining companies. TNR is actively introducing the project to interested parties. We may be at the beginning of a great discovery. There is a clear path to moving this project forward using current geological and geophysical research to target drilling to expand the resource and form the basis of a preliminary economic analysis. The next step is to acquire a partner who shares our vision and recognises the growth potential and value to be added to the Shotgun project over time.
I believe that in order to maximise shareholder value and reach the potential valuations presented above, we must preserve capital, reduce the number of outstanding shares and not invest in Alaska with our own capital.
Our strategy, which we presented to potential strategic partners, involves creating a JV with one of the major gold mining companies. Our partner will invest substantial capital in developing the Shotgun Gold Project while earning a stake in the project.
TNR Gold shareholders will benefit from the strategic partner’s capital being invested “in the ground” and industry expertise, including operations in Alaska.
Management is investigating the best value-creation strategies for the Shotgun Gold Project. It has established the corporate structure of AmeriGold – the stand-alone company that could potentially inherit the Shotgun Gold Project JV operations after the contemplated potential spinout from TNR Gold.
TNR Gold in the Alaskan Elephant Country: Shotgun Gold Project Relationship With Developing NovaGold's Donlin Gold Mining Camp
Shotgun Gold Project Relationship With Developing NovaGold's Donlin Gold Mining Camp
By Grok (Edited)
Overview of TNR Gold's Shotgun Gold Project
"TNR Gold Corp. (TSX-V: TNR) holds a 90% interest in the Shotgun Gold Project, an advanced-stage exploration property in southwestern Alaska, USA, within the Kuskokwim Gold Belt. The project is a porphyry-style gold system targeted for a bulk mineable resource, with an inferred mineral resource of 705,960 ounces of gold (as per the NI 43-101 Technical Report dated May 27, 2013).
TNR's strategy is to attract a joint venture partner, such as a major mining company, to advance exploration and development, leveraging its proximity to established infrastructure and other major projects in the region. Recent exploration (2022-2023) focused on geochemical and geophysical anomalies from historical surveys, including those conducted by NovaGold in 1998.
NovaGold Resources Inc. (NYSE American/TSX: NG) is a key player in Alaska's gold sector through its involvement in the Donlin Gold Project, located in the same Kuskokwim Gold Belt. Donlin Gold is one of the world's largest known undeveloped gold deposits, with Measured and Indicated Resources of approximately 39 million ounces (541 million tonnes at 2.24 g/t gold) and an additional 6 million ounces Inferred, inclusive of Proven and Probable Reserves of 34 million ounces at 2.09 g/t gold. The project is managed by Donlin Gold LLC, jointly owned by NovaGold (50%) and Barrick Gold Corporation (50% until recently).
As of April 2025, NovaGold and Paulson & Co. (a U.S.-based investment firm) announced a $1 billion transaction to acquire Barrick's 50% stake, restructuring ownership: NovaGold increases to 60% (acquiring 10% for $200 million), and Paulson acquires 40% ($800 million). This deal, which includes equal governance rights and an option for NovaGold to buy out Barrick's outstanding debt, positions Donlin as a flagship development asset with strong exploration upside (current resources cover only ~5% of the land package). The project has federal and state permits in place and benefits from partnerships with local Native corporations (Calista for subsurface rights and The Kuskokwim Corporation for surface rights), emphasizing community support and jurisdictional safety in Alaska.
Development of Donlin is advancing toward feasibility and financing, with potential for a long-life, high-grade open-pit mine. It is expected to create significant infrastructure, including roads, power, ports, and camps, transforming the area into a major "gold mining camp" – a hub that could support satellite projects by reducing logistical costs and enabling economies of scale.
The relationship between TNR's Shotgun Gold Project and NovaGold's Donlin Gold is multifaceted, rooted in historical ties, geographical proximity, geological similarities, and strategic synergies for regional development. There is no current operational or financial partnership between TNR and NovaGold (or Donlin Gold LLC), but the projects are interconnected in the broader Alaskan gold landscape. Below is a breakdown:
- Shotgun originated from early exploration by NovaGold. In the 1990s-2000s, NovaGold conducted soil surveys (1998) and geophysical work (e.g., SJ Geophysics EM surveys in 2011-2012) on the property, identifying key anomalies that TNR later built upon.
- TNR optioned the project from NovaGold and, in 2010, negotiated full ownership by acquiring NovaGold's remaining 50% interest for 6 million TNR shares and 3 million warrants. This ended the direct JV but established TNR as the primary owner, with NovaGold retaining indirect exposure through its historical stake in TNR (NovaGold has been described as a "shareholder" in TNR in various updates).
- Post-acquisition, TNR advanced Shotgun to its current resource stage, but early data from NovaGold's work remains integral to ongoing exploration.
- Shotgun is located approximately 190 km (118 miles) south of Donlin Gold, placing it within the emerging Kuskokwim Gold Belt – a world-class, multi-million-ounce gold district.
- As Donlin advances (e.g., through its 2025 ownership restructuring and ongoing drilling), it is poised to develop extensive infrastructure, including access roads, airstrips, power generation, and logistics hubs. TNR executives, including Kirill Klip (Executive Chairman), have highlighted how this could benefit Shotgun as a "satellite" deposit, potentially lowering development costs by sharing regional facilities. For instance, Donlin's planned mining camp could enable easier access, reduced permitting hurdles, and shared supply chains for nearby projects like Shotgun.
- This positioning aligns with TNR's goal of attracting majors (e.g., similar to Barrick or Newmont) who could integrate Shotgun into a larger camp strategy, especially as Alaska's gold sector heats up with investments like Saudi Arabia's sovereign wealth fund acquiring NovaGold shares in 2020.
- Both projects are intrusion-related porphyry gold systems with comparable signatures: large-tonnage, bulk-mineable deposits in a tectonically active belt. Academic studies (e.g., by Dr. Tim Baker) list Shotgun alongside Donlin as a "major porphyry gold deposit" with potential for structural repeats and deeper mineralization.
- Donlin's recent drilling (e.g., 2020-2021 intercepts like 24.44m at 14.6 g/t gold) demonstrates the belt's depth potential, which TNR believes could mirror at Shotgun (where resources are shallow, from surface to 150m). TNR's 2022-2023 field programs revisited NovaGold-era targets, suggesting untapped upside potential if Donlin's camp validates the district's scale.
- NovaGold's success at Donlin (e.g., stock rally of 36% post-2025 Paulson deal) is seen by TNR as a catalyst, drawing attention to the region and increasing interest in satellites like Shotgun.
- NovaGold's involvement in Donlin underscores the region's appeal, indirectly boosting TNR's profile. TNR promotes Shotgun as part of the "Alaskan Elephant Country," often referencing Donlin in investor presentations and seeking partners amid Donlin's momentum.
- No direct equity or royalty links exist today, but TNR's advisory board includes former NovaGold director Greg Johnson, providing ongoing strategic alignment. TNR is actively soliciting JV interest from majors, positioning Shotgun to leverage Donlin's development for faster advancement.
- Recent X (Twitter) discussions from TNR and Klip (e.g., posts from July-September 2025) emphasize this synergy, linking Shotgun's potential to Donlin's $1B transaction and portraying the area as a U.S.-based gold hub.
In summary, while not directly partnered today, Shotgun's relationship to Donlin's development is strategic: historical NovaGold involvement provided foundational data, geographical closeness offers infrastructural benefits as Donlin builds a mining camp, and geological parallels position Shotgun for growth in a validated district. TNR views Donlin's progress (e.g., the 2025 Barrick exit and Paulson entry) as a tailwind, enhancing Shotgun's appeal for future partnerships. Investors should review full technical reports and consult advisors, as exploration results are not independently verified by TNR's QP."
TNR Shotgun Gold Project In "The Alaskan Elephant Country". Dr Tim Baker: "Major Porphyry Gold Deposits".
Alastair Ford: "TNR Gold’s Shotgun Project In Alaska Has All The Trappings And Trimmings It Takes To Attract In A Major."
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