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PROJECT

ARNOLD PROPERTY 

28 claims – 1,225 ha

The Arnold property is located one and a half kilometres to the north and west of Agnico Eagle’s Upper Beaver deposit (1.4 Moz gold (8.0 Mt @ 5.43 g/t Au and 0.25% Cu) probable mineral reserves as of December 2020 and NI 43-101 compliant[1]), which is being explored with a 36,500 metre drill program in 2021, following 28,000 metres of drilling in 2020[2]. The property is contiguous with New Found Gold’s Lucky Strike Project on the eastern boundary and borders the past producing Victoria Creek Mine site (historical non-compliant inferred mineral resource of 134,000 oz gold, (0.82 Mt @ 5.10 g/t Au (2.5 g/t cut-off))[3]) on the southwest side of the claim group.

The Arnold property is hosted within the same Blake River mafic volcanics  as the Upper Beaver deposit and is transected by a 5½ km stretch of the Mulven Lake Fault, a deep crustal feature that recent studies by MERC[4] have shown to be potentially as deep as, or a substructure of the Larder Lake Cadillac deformation zone (LLCDZ).

The claims also contain an interpreted structural splay off the Victoria Creek Deformation Zone (host to the Upper Beaver deposit) and although these splays are prospective structures, limited exploration has been undertaken on the Mulven Lake Fault on the Arnold property.

 

[1] Agnico Eagles Mines Ltd., 2020 Annual Information Form, page 61 – reported March 26, 2021

[2] https://www.agnicoeagle.com/English/exploration/exploration-projects/Kirkland-Lake-project

[3] Queenston Mining Inc., 2011 Annual Information Form, page 15.

[4] https://merc.laurentian.ca/research/activities/transectlarderlake

KL WEST PROPERTY 

107 claims - 11,532 ha

The KLW land package is located 10 km northwest of the town of Kirkland Lake in the heart of the Kirkland Lake gold camp which has produced in excess of 47 million ounces of gold in its 100-year history[1].  The property hosts numerous intersecting northeast and northwest trending faults and structures that cut through a variety of the volcanic-dominated Blake River Group. Felsic and mafic-ultramafic intrusive rocks are also present giving the KLW land package a variety of environments conducive to orogenic gold mineralization. Numerous pits, shafts and workings are present on the property which has seen little systematic exploration.

 

[1]https://www.agnicoeagle.com/English/exploration/exploration-projects/Kirkland-Lake-project/default.aspx

KL CENTRAL PROPERTY 

10 claims – 2,342 ha

The KLC land package is transected by over 12 km of the Murdoch Fault, a deep crustal scale deformation zone that is intimately related to the gold deposits in the Kirkland Lake gold camp[1]. The KLC land package is proximal to the east-west-trending Victoria Creek Deformation Zone which is associated with Agnico Eagle’s Upper Beaver complex which hosts probable reserves of 7.99Mt at 5.43 g/t Au and 0.25% Cu for 1.4M ounces of gold [2]. The Victoria Creek gold deposit lies along the same structural trend and hosts a historical mineral resource (NI 43-101 non-compliant) of 4.2Mt at 3.27 g/t Au.

 

[1]https://s23.q4cdn.com/685814098/files/doc_downloads/technical_reports/2019/2019-Macassa-NI-43-101-Amended-July-19_Final.pdf, page 22

[2]http://www.geologyontario.mndm.gov.on.ca/mndmfiles/mdi/data/records/MDI32D04NW00043.html