The Great Northern and Viking Projects

The Great Northern Project is an exploration-stage property with a significant resource base, drill ready targets and potential for near-term resource expansion.

The Great Northern and Viking Projects comprises 2 separate claim blocks (13,775 hectares) and are located that are located near the communities of Sops Arm, Pollard’s Point and Jackson’s Arm, in western Newfoundland and Labrador (Figure 1). The area is accessible by provincial Route 420, which is connected to the Trans-Canada Highway (TCH) 75 km to the south.

The Projects are centered along a 20-kilometre section of the Doucer’s Valley Fault, a significant geological control on, and host to, several gold deposits and untested prospects, including the Rattling Brook and Thor Deposits, Jacksons Arm, Little Davis Pond, Viking, and Incinerator Trends (Figures 1 and 2). Gold mineralization is hosted within a variety of rock types that include Precambrian or Ordovician granite and granodiorite, or younger volcanic and sedimentary rocks, typically along splays off the Doucer’s Valley Fault. Alteration consists of mesothermal style sericite, quartz ± iron carbonate ± sulfide veins and stockworks with 2 to 5% total sulfides consisting of pyrite, arsenopyrite, galena, chalcopyrite, and sphalerite, and locally show trace amounts of visible gold.

The Great Northern and Viking Projects are host to significant Current and Historic Mineral Resources, including:

• An Inferred Mineral Resource Estimate^ of 5,460,000 tonnes at an average grade of 1.45 g/t gold containing 255,000 contained ounces at a cut-off grade of 1.0 g/t gold at the Rattling Brook Deposit; and
• An Historical Indicated Mineral Resource^^ of 937,000 tonnes at an average grade of 2.09 g/t gold containing 63,000 ounces of gold plus an Historical Inferred Mineral Resource of 350,000 tonnes at an average grade of 1.79 g/t gold containing 20,000 ounces of gold at a cut-off grade of 1.0 g/t gold at the Thor Deposit.

A recently completed drill program at the Apsy Zone of the Rattling Brook Deposit resulted in the discovery of a new zone of gold mineralization, confirming that northwesterly trending faults form favourable hosts to gold deposits. Specifically, gold mineralization was intersected 150 metres northwest of the Rattling Brook Deposit within the Apsy Feeder Zone, both expanding the deposit and confirming the presence of gold mineralization within the fault structures (Figures 3 and 4). Further, a recent prospecting program resulted in 32% of rock grab samples* being anomalous in gold, including assays up to 14.7 g/t gold and demonstrates along with previous sampling that gold mineralization within the Apsy Feeder Zone continues at surface over 800 metres of strike length (Figures 3 and 4).

Highlight gold intersections from the Drill Program include:

• 1.30 g/t gold over 16.5 metres (151.0 to 167.5 metres; Estimated True Thickness “TT” 7 metres) in drill hole JA-21-131;
• 1.64 g/t gold over 9.7 metres (9.0 to 18.7 metres; TT 9 metres), including 16.60 g/t gold over 0.5 metres in drill hole JA-21-127;
• 0.72 g/t gold over 128.5 metres (61.5 to 190.0 metres; TT 45 metres), including 1.27 g/t gold over 17.3 metres and 1.47 g/t gold over 7.0 metres in drill hole JA-21-129;
• 0.47 g/t gold over 103.0 metres (2.0 to 105.0 metres; TT 95 metres), including 0.98 g/t gold over 33.0 metres in drill hole JA-21-133;
• 0.79 g/t gold over 26.4 metres (121.0 to 147.4 metres; TT 25 metres), including 1.27 g/t gold over 8.4 metres in drill hole JA-21-133;
• 0.49 g/t gold over 65.2 metres (1.8 to 67.0 metres; TT 60 metres) in drill hole JA-21-124; and
• 0.61 g/t gold over 37.4 metres (12.0 to 49.4 metres; TT 35 metres) in drill hole JA-21-132.

Previous (1986 to 2007) select drill intercepts that partly define the Apsy Zone adjacent to the area of the Drill Program include:

• 1.77 g/t gold over 74.4 metres (2.3 to 76.7 metres; TT 60 metres), including 3.25 g/t gold over 22.7 metres in drill hole JA-05-35;
• 1.13 g/t gold over 115.7 metres (45.0 to 160.7 metres; TT 70 metres) in drill hole JA-05-36;
• 1.40 g/t gold over 84.6 metres (10.5 to 95.1 metres; TT 80 metres), including 8.62 g/t gold over 2.5 metres in drill hole JA-06-46;
• 1.28 g/t gold over 75.6 metres (1.0 to 76.6 metres; TT 70 metres) in drill hole JA-06-53;
• 1.22 g/t gold over 56.5 metres (61.0 to 117.5 metres; TT 50 metres) in drill hole RB-30; and
• 1.07 g/t gold over 68.0 metres (115.6 to 183.6 metres; TT 60 metres), including 8.84 g/t gold over 1.0 metres in drill hole RB-40.