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Nadaleen Project

Highlights

  • The Nadaleen Trend hosts 20 Carlin-type gold occurrences along a 25 km long trend, comparable in size to the entire northern Carlin Trend of Nevada
    • There are 2 distinct clusters of occurrences known as the Osiris cluster and the Anubis cluster
  • The Osiris cluster hosts the Osiris Gold Deposit (1,685,000 oz gold at 4.23 g/t) and a total of 7 occurrences
  • The Anubis cluster hosts 13 Carlin-type gold occurrences along strike the gold bearing Anubis and Northern faults
  • Drilling to-date consists of 108,696 m in 330 diamond drill holes on the Nadaleen project

Osiris Gold Deposit

Highlights

  • 2018 Inferred Mineral Resource of 1,685,000 ounces of gold at 4.23 g/t (in 12.4 Mt)
    • including a pit-constrained resource of 1,055,000 ounces of gold at 4.08 g/t (in 8.0 Mt)
  • Globally competitive discovery cost of CDN $32/oz of gold*
  • Discovery rate of 21 ounces gold per metre drilled
  • Highlight diamond drill hole intersected 42.93 m of 18.44 g/t gold from 66.19 m in OS-12-114
  • Completed 93,678 m in 281 diamond drill holes
    • ~8,000 m of step out drilling completed in 2018 subsequent to maiden resource
  • All zones outcrop at surface and remain open in multiple directions

  Gold Cut-Off Tonnes Grade (Au g/t) Gold (oz)
Pit-Constrained 1.30 g/t 8,045,000 4.08 1,055,000
Underground 2.60 g/t 4,335,000 4.52 630,000
Total Inferred Mineral Resource   12,380,000 4.23 1,685,000

*Discovery costs were calculated using a cumulative exploration cost for the Osiris Project of $53,168,791. Costs included drilling, helicopter, assays, labour, fixed wing, camp costs, fuel, general camp consumables and winter office work.

  • Osiris Geology & Mineralization

    Osiris Geology

    The bedrock geology consists of a southward and westward younging sequence of Neoproterozoic to Cambrian slope-facies sedimentary rocks that are part of the Windermere Supergroup. Two distinct intrusive rock units have been identified in the Osiris area, known as the Osiris Gabbro, dated at 465.6 ± 4.4Ma, and the Conrad gabbroic dikes, dated at 74.4 ± 1Ma. Gold mineralization is preferentially hosted in carbonate rocks, particularly silty limestone.

    The local structure is generally characterized by steep homoclinal bedding with monoclines and isolated macroscopic (hundreds of metres in scale or larger) folds. Carbonate units are folded on the mesoscopic and macroscopic scale with only minor development of any associated cleavage and without many smaller-scale folds. The Osiris area is cut by significant faults that strike generally east-west or southeast-northwest.

    Osiris Mineralization

    Gold mineralization at Osiris is typical of the Carlin type gold systems of Nevada. Mineralization occurs as replacement bodies with both structural and stratigraphic control. Deposits frequently occur along or near faults and fault zones, particularly where these zones cut favorable host carbonate rock. Deposits are intimately associated with host-rock alteration characterized by decarbonatization, argillization, silicification and sulphidation that results in the formation of gold-bearing arsenian pyrite. Deposits have elevated geochemical concentrations of Au-As-Sb-Hg-Tl.

Anubis Cluster

Highlights

  • The Anubis Cluster hosts 13 Carlin-type gold occurences
  • Located 10 km west of the Osiris Carlin-type Gold Deposit (1,685,000 ounces of gold at 4.23 g/t Au)
  • Gold mineralization associated with the Anubis Fault has been intersected over a 2.5 km strike length and down dip 540 m
  • Highlight diamond drill hole intersected 8.51 m of 19.85 g/t gold from 63.09 m in AN-12-001
  • Completed 15,018 m in 49 diamond drill holes
  • All zones outcrop at surface and remain open along strike and at depth

Anubis Cluster Highlight Diamond Drill Results

Hole From (m) To (m) Interval (m) Grade (g/t Au)
AN-12-001 63.09 71.60 8.51 19.85
AN-12-003* 69.19 85.95 16.76 9.08
AN-16-010* 18.00 79.29 61.29 2.75
BDO-18-008 509.84 514.50 4.66 6.95
BDO-18-017* 361.80 369.41 7.61 10.48
BDO-18-018 166.73 177.46 10.73 7.20
BDO-18-019 135.94 138.72 2.78 9.49

True width for diamond drill results are estimated to be 70 - 100% of intersected widths
*True width for diamond drill results are estimated to be 20 - 50% of intersected widths

Anubis Geology & Mineralization

Anubis Geology

The 13 km² Anubis Cluster is underlain by favourable mid-Paleozoic limestone, silty limestone, shales and calcareous siltstones that are cut by a network of regional scale faults. Two of these regional faults – the Anubis and Northern faults – are extensional features that are believed to be mineralizing fluid conduits. Smaller scale cross-cutting faults show strong evidence for hydrothermal alteration and are also potential areas for mineralizing fluid focus.

Anubis Mineralization

Mineralization in the Anubis Cluster shows characteristics consistent with Carlin-type gold mineralization, as do other targets along the Nadaleen Trend. The Anubis discovery outcrop consists of highly fractured, strongly folded, jasperoid altered and decarbonatized siltstone and shale. Extensive soil geochemical anomalies in the Anubis Cluster occur with well-developed hydrothermal clay alteration developed in proximity to the feeder fault systems. The large-scale pathfinder element geochemical footprint suggests a very large Carlin-type environment with a long-lived plumbing system.