Savant Lake Project - Ontario (copy)

New Data highlights from 2018 prospecting

2018 – 10-day prospecting program confirmed Au mineralization at all 6 of the historic showings visited. Extensions to the Snowbird Au showing (0.3 g/t Au at ~300 m) and new Au mineralization at Stillar Bay showing were also found in 2018.

  • 650 m SW along strike from Stillar Bay     shear zone          3.9 g/t Au
  • 840 m E along strike from Stillar Bay         shear zone          0.3 g/t Au
  • 300 m N along strike from Snowbird        iron fm                 0.3 g/t Au

Highlight assays from 2018 prospecting include:

Opportunity

  • Large prospective land package covering 203.9  (1,000 claim units) within the Savant Lake Greenstone Belt. There is a cumulative strike length of over 60 km of under explored iron formation.
  • Numerous gold showings including multiple samples returning > 30g/t Au, some of the assays in the following table are from historic reports.
  • Potential for 3 styles of gold mineralization
    • Iron formation hosted gold
    • Shear zone hosted gold
    • Volcanogenic Massive Sulfide
  • 10 untested high priority conductors from 2016 VTEM airborne program.
  • Drilling in 2017 identified semi massive sulfide intersections coincident with conductive anomalies and hydrothermal alteration associated with mineralization.
  • District scale potential
    • Numerous gold showings
    • 60 km strike length of iron formation
    • Highly prospective greenstone belt
    • Minimal exploration done since the mid-80's
  • Excellent Infrastructure with existing power, rail, and all-season road.
  • Option to earn 100% interest by paying vendors in cash and shares.

Upcoming Work Program

  • 2019 work will build on the initial 2018 program and include additional prospecting and mapping on high priority areas in the Savant Lake Project.
  • Work will focus on extending known gold occurrences coincident with iron formation and ground truthing conductive anomalies identified in the 2016 VTEM survey.
  • Significant gold mineralization has been identified in non-conductive areas which highlights the importance of testing Au showings in iron formation with no EM response. These gold-in-rock geochemical anomalies occur at fold noses where iron-formation thicknesses normally increase with resultant improved ground conditions for the potential introduction of mineralizing solutions.
  • The goal of this program will be to identify additional surface mineralization and refine existing drill targets.
  • The Company believes that many of the Project's best targets remain untested.

Location

  • 240 km northwest of Thunder Bay Ontario
  • Property overlies the Savant Lake Greenstone Belt
  • Accessible by all weather roads and within 25 km of CNR main rail line

Property Geology

  • Property overlies Archean age Savant Lake Greenstone Belt
  • Rocks are primarily greywacke interbedded with cherty magnetite iron formation and mafic volcanic rocks.
  • Rocks are metamorphosed to upper greenschist (+/- amphibolite) facies and complexly folded such that the iron formation horizons are repeated.
  • Prospective iron formation interpreted from geophysics has a cumulative strike length of 60 kilometres.
  • Magnetic data and mapping indicate that strong folding of the iron formation has occurred resulting in the development of multiple steeply plunging fold hinges. This geologic setting is similar to significant iron formation hosted deposits such as Musselwhite (Goldcorp), Amaruq (Agnico) and past producing Lupin Mine and Homestake Mine.

Work Performed

  • 2018 – 10-day prospecting program confirmed Au mineralization at all 6 of the historic showings visited:
    • Horseshoe          iron fm  21.3 g/t Au and 6.1 g/t Au
    • Shoal                  iron fm   8.1 g/t Au
    • L28                    iron fm   2.9 g/t Au
    • One Pine             iron fm  1.3 g/t Au
    • Big Sandy           shear      0.8 g/t Au
    • Snowbird            iron fm   0.3 g/t Au
  • 2018 - Au mineralization was discovered in previously unknown locations:
    • 650 m SW along strike from Stillar Bay     shear     3.9 g/t Au
    • 840 m E along strike from Stillar Bay         shear     0.3 g/t Au
    • 300 m N along strike from Snowbird         iron fm   0.3 g/t Au
  • 2017 - New Dimension completed an 8-hole, 1626 m diamond drill program on the property to test mineralization associated with conductive targets generated from the 2016 airborne VTEM survey.
  • 2016 - New Dimension carried out a 925-line kilometre VTEM airborne geophysical program over the Property. 18 high priority anomalies were identified.
  • 2016 - Mapping and prospecting campaign discovered the “Big Sandy” occurrence and returned gold values to a maximum of 3.6 g/t from grab samples collected from variably sheared mafic volcanic rocks. Further prospecting at the Horseshoe target yielded additional high-grade gold mineralization, including two samples yielding 38.8 g/t and 14.3 g/t, extending the strike potential to over 500 meters.

Historic Work

  • 2014 – The property vendors completed sampling over the historical showings with values ranging from BDL to 138.87 g/t gold. In total, 35 samples reported grades exceeding 1.0 g/t gold including 11 samples exceeding 20 g/t gold. The known showings are at surface or covered by shallow overburden, but more than 90% of the interpreted iron formation horizons do not outcrop.
  • 2000 – 8 drill holes were completed on the Stillar Bay occurrence by Band-Ore Resources. These drill holes were focused on extending surface Au mineralization in sheared iron formation. They tested ~250 m of the 5 km shear zone strike length. Drilling highlights include 4.70 g/t Au over 0.5 m, 3.26 g/t Au over 1.2 m and 2.93 g/t Au over 1.8 m.
  • 1989 – Placer Dome tested the One Pine Occurrence with one drill hole. Drilling intersected iron formation, previous summaries note that 23.6 g/t Au over 0.5 m was intersected.
  • 1984 – 7 drill holes tested 100 m of strike length on the Shoal occurrence by Savant Exploration. These drill holes were targeting surface Au mineralization in iron formation and returned a maximum value of 1.87 g/t Au over 0.6 m.
  • 1983 – Raylloyd Resources drill tested 200 m of strike length of the Wiggle Creek showing with 11 drill holes. The best assays returned 15.55 g/t Au over 0.4 m, 15.23 g/t Au over 0.3 m and 9.33 g/t Au over 0.3 m.
  • Additional historical exploration included mapping, prospecting and trenching. This work exposed mixed oxide facies iron formation and clastic meta-sediments, which are host to pyrite and arsenopyrite mineralization as well as quartz veining and ankerite alteration.

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