Geology Expert Sees Rich Gold in Yukon: Get Some Picks
You'd be hard-pressed to find people on the street who have heard of him, but in the mining world, Quinton Hennigh is a rock star. His picks detail some of the up-and-coming miners in the Yukon.
You'd be hard-pressed to find people on the street who have heard of him, but in the mining world, Quinton Hennigh is a rock star.
With over 40 years of experience in the precious metals mining industry, he brings a wealth of knowledge to the field. With a PhD in geology and geochemistry from the Colorado School of Mines, Hennigh has worked with major global mining firms such as Homestake Mining, now Barrick Mining Corp. (ABX:TSX; B:NYSE); Newcrest Mining Ltd. (NCM:ASX), and Newmont Corp. (NEM:NYSE; NGT:TSX; NEM:ASX). He has also led several exploration-focused mining companies as an executive.
In 2021, he joined Crescat Capital as a member of its investment team, and he now serves in an advisory role. In 2023, he became chairman and chief executive officer of San Cristobal Mining Inc., a leading private global producer of silver and zinc, following San Cristobal's acquisition of Minera San Cristobal from Sumitomo Corp. (8053:TKY; SSUMF:OTCPK) and the advancement of the Isidorito silver deposit in Bolivia.
Hennigh has contributed to numerous successful projects, including Kirkland Lake Gold Inc.'s (KL:TSX; KL:NYSE) acquisition of the Fosterville mine in Australia and the discovery and development of tier-one mineral assets worldwide, such as New Found Gold Corp.'s (NFG:TSX.V; NFGC:NYSE.American) Queensway discovery in Newfoundland, Eloro Resources Ltd.'s (ELO:TSX.V; ELRRF:OTCBB) Iska Iska silver/polymetallic deposit in Bolivia, Snowline Gold's Valley deposit in the Yukon, and Goliath Resources Ltd.'s (GOT:TSX.V; GOTRF:OTCQB; B4IF:FSE) Surebet gold discovery in British Columbia.
According to its website, Crescat Capital is a global macro asset management firm based in Denver, Colorado. It aims to achieve industry-leading absolute and risk-adjusted returns across complete business cycles, maintaining low correlation to common benchmarks.
In recent years, Crescat has been building activist stakes in a portfolio of precious metals explorers as a key expression of one of its primary macro themes. The company's investment process incorporates a blend of asset classes and strategies tailored to meet each client's unique needs and objectives, including Global Macro, Long/Short, Large Cap, and Precious Metals funds.
According to the Preqin alternative assets database, as of October 10, the company had achieved five of the top 10 hedge funds this year through September 30. The Crescat Global Macro Fund was No. 2 and has yielded 112.6%, the Crescat Institutional Macro Fund rated sixth with a 109.4% yield, the Crescat Long/Short Fund ranked third with a 121.4% yield, the Crescat Precious Metals Fund ranked No. 4 with a 120.3% yield, and the Crescat Institutional Commodity Fund ranked fifth with a 110.9% yield.
In a discussion with Streetwise Reports, Hennigh spoke of an undercapitalized industry that needs to make discoveries and train new workers quickly, and noted some explorer stock picks that he likes that could make a difference.
'A Compelling Case'
Hennigh said it began when Crescat founder Kevin Smith "out of the blue one day" to discuss investments in the mining space.
"Recognizing that mining was grossly undercapitalized for many, many years, and that metal prices and commodity prices were probably going to do well over subsequent years," he said. The company "felt getting into mining was a compelling case."
Hennigh said he was able to get the firm involved in such success stories as Great Bear and Vizsla Silver.
"But ... Kevin had shorted the broader market going into the pandemic, and he had a windfall that he basically was looking to reinvest starting around April or May of 2020," Hennigh said.
Smith said he was going to start a precious metals fund and invited Hennigh to help the firm find more junior companies to invest in.
"We jumped in and we did just an astounding number of placements into some very high-quality explorers in 2020 and 2021," Hennigh noted. "We've done well. We create a lot of value for a lot of people."
Problems on the Horizon for Industry, Expert Says
But because of the "gross undercapitalization" in the mining industry, there needs to be more expanding mines, new mines built, and new exploration, he said.
Commodity prices over the long haul "will reflect that," the geologist said, with overall strength, particularly because of increasing demand almost across the board, especially for certain things like copper, for example.
"How could you have a supply that's been constrained for years now, like no supply growth, significant growth, yet an increased demand without prices going up?" he asked. "So, I take the view that we're going to be in a bowl for a while, and it's a nice place to be."
But Hennigh also has other worries, such as the industry's workforce.
There are some distortions that have occurred due to the constraint of capital, such as a need for a new generation of workers.
"We have very few mining professionals who are coming into this industry," he said. "There's virtually no significant numbers of geologists, engineers, metallurgists, et cetera, that are entering the mining community. Other industries like tech have grown by leaps and bounds. Mining hardly at all. Okay. So that's not a good thing. These are actually significant problems we're going to have to overcome."
Money coming into the industry is a "double-edged sword," he said. "We don't have the army of people that we need to actually accomplish what the world needs."
"We need to train the next generation of mining professionals," Hennigh continued. "Otherwise, I just don't see how we're going to get ourselves out of this conundrum."
Since he predicted commodity prices will catch up, Streetwise Reports asked him for some of his best picks, and he said there's a "plethora of great stories" in the Yukon and other places, including the following.
Snowline Gold
Snowline Gold Corp.'s (SGD:TSX.V; SNWGF:OTCQB) Valley Deposit ranks among the most significant gold finds in recent times, containing 7 million ounces (Moz) of gold across all resource categories with grades surpassing 1 gram per tonne (g/t) gold, according to a piece John Zadeh for Discovery/Alert on March 14, 2025.
What makes this discovery even more remarkable is that this vast resource was identified with just 28,000 meters of drilling over a short two-year span (2022-2023), underscoring the efficiency of Snowline's exploration efforts, Zadeh wrote.
Streetwise Ownership Overview*
Snowline Gold Corp. (SGD:TSX.V; SNWGF:OTCQB)
*Share Structureas of 11/10/2025"The deposit's near-surface mineralization exhibits extraordinary continuity in three dimensions, a characteristic that significantly enhances mining economics," he noted. "Most compelling is that the highest-grade zones occur right at the surface, creating a virtually zero stripping ratio a rare and economically advantageous attribute for open-pit mining."
Hennigh said the discovery is setting off a second Yukon gold rush of sorts.
"The whole specter around Yukon as a gold jurisdiction kind of diminished over the past decade or so until Snowline resurrected things," he said. "I think the discovery of the Valley Deposit that Snowline made really fired up people and made people recognize, once again, Yukon's a great place to be. And now you're seeing that spill over into new stories."
The Valley Deposit stands out among premium gold projects in the current market, Zadeh wrote. Its blend of high-grade mineralization (2.3-2.35 g/t gold), shallow location, and three-dimensional continuity forms a rare combination of advantageous mining features.
The starter pit's nearly negligible stripping ratio around 0.9:1 waste-to-ore places it among the top tier of open-pit gold projects worldwide. In comparison, many standard operations face stripping ratios of 3:1 or higher, significantly raising mining costs and environmental impacts.
"Located in the mining-friendly Yukon, the project benefits from a jurisdiction known for permitting success," he wrote. "The Yukon government has boasted mining permit approval rates exceeding 92% over the 2020-2024 period."
The project's robust technical and economic indicators suggest it could be developed independently. However, its high quality also makes it an appealing acquisition target for major producers seeking to replenish dwindling reserves, Zadeh wrote.
Snowline announced on November 3 that it had received conditional approval to list its common shares on the Toronto Stock Exchange and transition from the TSX Venture Exchange. Final approval for the listing depends on the company fulfilling certain standard requirements of the TSX, including the submission of all necessary documentation. The company will release a statement once the TSX confirms the date when trading of Snowline's common shares is anticipated to begin on the TSX.
"This is a significant milestone for the Company, and we are thrilled to have received conditional approval to list on the TSX," said Scott Berdahl, chief executive officer and director of Snowline. "We expect this listing to enhance our visibility, broaden our investor base, increase liquidity, and provide eligibility for potential index inclusion. This move reflects our rapid progress to derisk our business as well as the high-quality nature of our flagship Valley gold deposit, which is emerging as a globally relevant project."
Latest data show about 10% of the company is owned by insiders and management, about 16% by strategic corporate entities, and about 15% by institutions. The rest is in retail.1
Top shareholders include 18526 Yukon Inc. with 15.89%, Cox Alvarez del Villar de Gubbins with 9.32%, 1832 Asset Management LP with 5.84%, T. Rowe Price Associates Inc. with 2.62%, and Van Eck Associates Corporation with 1.57%.
Its market cap is CA$2.06 billion with 173 million shares outstanding. It trades in a 52-week range of CA$4.88 and CA$14.78.
Sitka Gold
According to Hennigh, another story he likes is Sitka Gold Corp. (SIG:TSXV; SITKF:OTCQB; 1RF:FSE).
"They have multiple discoveries, like they have reduced intrusion sprinkled across their property that I think collectively could lead to the discovery of over 10 Moz very easily," he said. "So I love Sitka."
On November 6, the company reported assay results for seven diamond drill holes completed at the Rhosgobel intrusion target, part of its wholly owned, easily accessible RC Gold Project situated within the Yukon's renowned Tombstone Gold Belt.
Streetwise Ownership Overview*
Sitka Gold Corp. (SIG:TSXV; SITKF:OTCQB; 1RF:FSE)
*Share Structureas of 11/10/2025The 2025 drilling campaign was completed successfully, both on schedule and under budget, encompassing 91 diamond drill holes totaling 31,841 meters. This included 43 holes (12,722 meters) at Rhosgobel, 26 holes (10,494 meters) at Blackjack/Saddle, 10 holes (4,401 meters) at Eiger, six holes (2,171 meters) at Contact Zone, three holes (1,044 meters) at Pukelman, two holes (606 meters) at May-Qu, and one hole (401 meters) at Bear Paw Breccia Zone.
Assay results are still pending for 55 drill holes completed at RC Gold, the company said in the release.
"The consistently strong gold grades and broad mineralized intervals, such as 107.9 meters of 1.01 g/t gold (Au) from surface in DDRCRG-25-014 and 297 meters of 0.61 g/t Au from surface, including 28.5 meters of 2.20 g/t gold, in hole DDRCRG-25-017, further confirm the strength and continuity of this growing gold system that begins at surface," said Chief Executive Officer and Director Cor Coe. "With visible gold observed in sheeted quartz veining across the entire 1.1-kilometer strike drilled this year and assays now confirming gold mineralization over 575 meters of strike, Rhosgobel is rapidly emerging as a significant new gold discovery within our RC Gold Project."
The fact that 16 of the first 17 holes have returned intersections exceeding 100 gram-meters of gold further underscores "both the scale and consistency of this system," he said. "We eagerly await results from the remaining 26 holes completed at Rhosgobel as we continue to define the size and potential of this exciting new gold zone."
In an updated research flash note on the same day, Paradigm Capital Analyst Lauren McConnell said the stock was one of the firm's top picks and "one of our preferred exploration stories."
The findings further establish Rhosgobel as a key discovery at RC Gold, showcasing continuity, near-surface grade, and scale that align with open-pit development potential, McConnell noted. Intercepts confirm a strong, intrusion-related gold system that continues to grow both laterally and at depth. The early confirmation of tungsten adds potential economic benefits for the future.
Rhosgobel's rapid progression from discovery to deposit in under a year underscores Sitka's path toward a revaluation phase as results become more concentrated between Blackjack, Saddle, and Rhosgobel, the analyst said.
"Sitka is currently trading at $63/oz based on its 2.8 Moz resource," McConnell wrote in a full note on August 20. "We believe that over the next year or so, a 5 Moz resource will be outlined and based on the results to date, there will be a boost in the average grade. We are increasing our target price to CA$1.70 (was CA$1.20), based on our 5 Moz resource assumption equating to a market cap of CA$625 million."
The project's location has year-round access and proximity to power, and exploration results to date indicating a high-grade corridor is unfolding, its exploration upside with numerous targets and its essentially untested 5-kilometer corridor between Blackjack and Rhosgobel justify this valuation.
"We maintain our Speculative Buy recommendation," McConnell wrote.
About 38.1% of the company is owned by institutions, about 11.2% by management and insiders, about 10% by high-net-worth individuals, 5% by family trusts, and 35.7% retail.1
Top shareholders include Cox Alvarez del Villar de Gubbins with 9.71%, Crescat Capital with 8.65%, Sprott Assett Management with 2.69%, the CEO Coe with 2.16%, and Purpose Investments Inc. with 1.34%.
Its market cap is CA$388.55 million with 389.3 million shares outstanding. It trades in a 52-week range of CA$0.25 and CA$1.36.
Banyan Gold Corp.
One other stock Hennigh praised was Banyan Gold Corp. (BYN:TSX.V; BYAGF:OTCQB; ), which on October 31 announced the discovery of visible silver mineralization from its recent drilling campaign at the AurMac Project in Yukon, Canada.
The company said the findings confirm the high-grade silver initially identified during the 2021 drilling near the surface at the Powerline Deposit. The results revealed multiple intercepts, such as 1841.14 g/t silver over 16.8 meters within a broader 103.6-meter interval grading 302.68 g/t silver in hole AX-21-142.
Additional intervals from earlier drill holes demonstrated consistent silver mineralization, including 20.22 g/t silver over 30.5 meters in AX-21-143 and 11.22 g/t silver over 18.9 meters in AX-24-542. A newly drilled hole, AX-25-803, successfully intersected the targeted high-grade Keno-style vein, with assays pending.
Streetwise Ownership Overview*
Banyan Gold Corp. (BYN:TSX.V;BYAGF:OTCQB;)
*Share Structureas of 11/10/2025"We have long recognized the potential for Keno-style silver mineralization at AurMac," said President and CEO Tara Christie in the news release. Vice President of Exploration Duncan Mackay added that utilizing the database of oriented core has enabled the company to refine its targeting, with initial tests confirming the structure's orientation.
The silver mineralization appears to be hosted in steeply dipping iron-carbonate veins containing sphalerite, galena, and occasional electrum. These zones are distinct from the gold domains of the deposit and, according to Banyan, may offer opportunities for selective mining.
Banyan's AurMac Project hosts a pit-constrained indicated mineral resource of 2.274 million ounces of gold (112.5 million tonnes grading 0.63 g/t) and an inferred resource of 5.453 million ounces of gold (280.6 million tonnes grading 0.60 g/t), based on the company's June 28, 2025, estimate. The project benefits from existing infrastructure, including road access, a nearby powerline, and cell service.
Christie "and her crew have done a great job," Hennigh said. "I think that modeling has yielded an exceptional deposit. It's a 1-gram deposit, but huge tonnages. It's a huge deposit that could be a tier one asset. So, Banyan, very keen on."
Jeff Clark of Gold Advisor noted on October 29 that visible silver mineralization had been encountered in the ongoing drilling program at a project in Yukon, building on the high-grade results initially reported in 2021. Clark mentioned that assays from 2021 included 1841.14 g/t silver over 16.8 meters within a larger intercept of 302.68 g/t silver over 103.6 meters. Other significant findings included 20.22 g/t silver over 30.5 meters and 11.22 g/t silver over 18.9 meters.
Clark pointed out that the company's current mineral resource estimate includes 7.7 Moz of gold but no silver. However, management sees the emerging silver zones as potentially important.
On October 29, Paradigm Capital issued a positive flash note following Banyan Gold Corp.'s announcement of intersecting high-grade visible silver mineralization at the Powerline deposit within its AurMac Project in Yukon. Analysts McConnell, Don Blyth, Don MacLean, and Jeff Banwell observed that the silver seems to represent a later-stage mineralizing event that crosscuts the dominant gold veining. While the current 7.7 Moz gold resource does not account for silver, the team sees the silver as a potential value addition.
If further delineated, a silver stream could aid in development financing for AurMac, the analysts noted, saying that Banyan remains well-capitalized, having completed a CA$31.4 million financing on October 16 with strategic investor Alpayana. Paradigm emphasized that gold continues to drive project value but acknowledged that the emerging silver zones add an important dimension. The firm maintained its positive outlook and continues to monitor upcoming drill results and PEA progress.
About 6.2% of the company is owned by management and insiders, about 30% is owned by institutions, about 18.5% by strategic corporate entities, and about 16.3% by high-net-worth investors. The rest, 29%, is retail.1
Other major shareholders include Franklin Advisers with 2.95%, IXIOS Asset Management SA with 1.39%, David Rutt with 0.7%, David Robert Reid with 0.52%, and Stephen Burleton with 0.45%.
Its market share is CA$310.02 million with 413.35 million shares outstanding. It trades in a 52-week range of CA$0.18 and CA$0.84.
More Picks
Some other stories Hennigh said he liked included White Gold Corp.'s (WGO:TSX.V; WHGOF:OTCQX; 29W:FRA), which operates solely in the White Gold District of west-central Yukon. With a landholding exceeding 350,000 hectares, which covers about 40% of the district, White Gold possesses the largest contiguous claim package in the area. Its premier White Gold Project comprises four near-surface deposits, boasting a total of 1.73 Moz of gold in the Indicated category and 1.27 Moz in the Inferred category, according to an updated mineral resource estimate released in August 2025. These resources are mainly situated within open-pit designs and remain open along strike and at depth.
Another, Trifecta Gold Ltd. (TG:TSX.V:TRRFF:OTCQB), is focused on discovering Tier 1 deposits in Yukon's Tombstone Gold Belt. Trifecta recently announced an agreement to acquire up to 100% of Mt. Hinton and 10 other highly prospective, intrusion-related gold projects located in Yukon's Tombstone Gold Belt where over 17 Moz of gold have been discovered since May 2020. The company also holds three wholly owned projects two within the Yukon's White Gold District and one in Humboldt County, Nevada.
Goliath Resources Ltd. also has caught his attention, as well as Prospector Metals Corp. (PPP:TSX-V; OTCQB:PMCOF; FSE:1ET0), which identifies underexplored or overlooked districts in Yukon and Ontario; Kingfisher Metals Corp. (KFR:TSX.V: KGFMF:OTCQB; 970:FSE), which has consolidated a major project in British Columbia's Golden Triangle; Mogotes Metals, with a discovery in Chile and Argentina; and King Copper Discovery Corp. (KCP:TSXV; TBXXF:OTCQB; 3RI:FRA), with a major project in Peru.
| Want to be the first to know about interestingCopper,Gold andSilver investment ideas?Sign up to receive the FREE Streetwise Reports' newsletter. | Subscribe |
Important Disclosures:
Goliath Resources Ltd. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Snowline Gold Corp. and Barrick Mining Corp.Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.For additional disclosures, please click here.
1. Ownership and Share Structure Information
The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.