Project Location Map

We had the opportunity to interview Ron Tremblay, President and Director of Levon Resources, Ltd. Previously a broker and trader with two prominent Canadian securities companies, Tremblay was appointed President of the Vancouver-based junior in October of 2006 at the request of founder Louis Wolfin (CEO and Director) and his son, David (V.P. Finance and Director). “Dave and Lou have been close associates of mine for a long time, and they asked me to get more involved in the company,” said Tremblay, noting that Wolfin was considering retirement. “I took an equity interest in the company, I bought just under 20% of the company, and Lou asked me if I would come on as president. I agreed if he would stay on as CEO, because I need his direction.”

Using his considerable financial and management experience, Tremblay is credited with having revitalized the 23 year old company, injecting it with more funding and more exploration opportunities. He said, “The reason I like the company is because it has a tremendous amount of undervalued assets. When I came on board, the stock was $0.06. It’s $0.25, $0.26 right now. It’s consolidating. It’s broken through its high over the last couple of years.”

By exploring strategic properties in two of the world's prime gold regions: Bralorne, British Columbia and the Cortez trend of Nevada, management intends to build Levon Resources into a mid-tier exploration company with economic gold resources. And recent discoveries on Levon's Congress property near Bralorne forecast an exciting future.

Originally the site of significant exploration and development by Levon in the late 1980's and early 1990's, the 6,000-acre claim still remains largely unexplored and is a prime prospect for economic mineralization. “The Congress property has 194,000 ounces, 43101-compliant resource outlined at this time, with about an average grade of a third of an ounce,” said Tremblay. Exploration in 2005 and 2006 resulted in discovery of the Golden Ledge zone, where recent trenching exposed a 1.0-to-1.5 metre-wide silicified fault zone with gold values up to 26.4 gpt Au (0.848 opt Au). The new Golden Ledge zone will undergo diamond drilling in the near future.

In keeping with the company’s strategy to explore in proven gold regions, Congress is located approximately 10 miles northeast of established mines, including the historic King, Bralorne and Pioneer mines. In fact, between 1932 and 1971, Bralorne and Pioneer produced 4.15 million ounces of gold and 0.95 million ounces of silver.

Congress Property

An aggressive three-phase exploration program began in the fall of 2006 and indicates that Congress holds significant potential for both underground lode mining and open-pit mining. To date, eight gold zones have been discovered in this area, and management plans to increase mineral resources to 500,000 contained ounces of gold through drifting and diamond drilling in 2007. “We also have antimony credits, which will account for roughly $100.00 a ton credits towards the mining of the operation,” noted Tremblay, adding that the company is currently in discussion with one particular bioleaching company. “They tell us that we should be able to produce an ounce of gold very reasonably. I hesitate to say a number at this time, but it looks very good.”

Congress Drilling

Tremblay explained the significance of the recent discoveries in light of the mine’s past. “Based on the Congress Mine, at one time this company was listed on NASDAQ and the Toronto Stock Exchange as trading at $6.00 a share, but over the years, with the gold price lowering and when all the metals and mines markets were really soft, Lou just couldn’t keep up. He had eight companies, and he couldn’t focus on all of them at the same time, so he brought me in to focus on (Levon). It’s a great opportunity to take a fantastic company with great assets and start allowing the public to understand the value of these assets.”

Due south of the Congress claims, Levon holds two largely pristine properties: BRX and Wayside, where past exploration has encountered sufficient gold mineralization. “These are very interesting properties,” said Tremblay, noting that claim includes an existing tungsten mine that was built during World War II. “tungsten is $19,300.00 a ton right now, so it would be very easy for us to put that [mine] back into production. We have a mill right next door at Bralorne where we could start creating a concentrate and shipping it, so we’re looking at that as well.”

Norma Sass drilling, near Pipeline Gold Mine

Partnering with Coral Gold Resources, Levon is exploring the Cortez trend. “We’re drilling for ‘bonanza’ Carlin-type ore bodies alongside Barrick/Kennecott's renowned Pipeline gold mine,” said Tremblay of the company’s joint venture in Nevada on three projects: the Norma Sass property, the Ruf Claims and the Eagle Claims.

Since the 1980s, Ruf Claims -- which is located about 1.5 miles northeast of the Pipeline mine -- has produced encouraging results in both geophysical surveys and drilling, and in 1995, a 6-hole, reverse-circulation drill program totaling 3,000' indicated ore grade material. Tremblay plans to get more aggressive there. “We’re going to be drilling this summer on those claims with Coral.”

Despite the company’s ample resources in British Columbia’s historic Bridge River region and its promising assets in the Cortez gold trend of Nevada, Tremblay says Levon is extremely undervalued. “The reason why the stock is where it is today is because there was some cheap paper that had been issued about a year and a half ago, but I’ve created a pretty good liquid stock over the last six to eight months since I’ve been president,” he said, pointing out that he himself owns 8 million to 10 million shares. “I’m very committed to [Levon], and I believe there’s a huge upside with all of the assets we have here. And once the market starts to recognize the value of the assets, plus the huge upside potential with all of the drilling we’re doing, it’s going to get real exciting.”

For more information:
http://www.levon.com