The Savant Lake gold project includes iron formation hosted gold occurrences within a very prospective mineral district in Ontario. The Savant Lake Property consists of 1,000 claim units covering 203.9 square kilometres, updated since the transition to online grid staking in April 2018. New Dimension stands to earn a 100% interest in the Savant Lake Property by paying the vendors in cash and shares.
The Property is situated within the Archean age Savant Lake Greenstone Belt and is underlain primarily by greywacke interbedded with cherty magnetite iron formation and mafic volcanic rocks. These rocks have been metamorphosed to upper greenschist (+/- amphibolite) facies and complexly folded such that the iron formation horizons are repeated. There is a cumulative strike length of 60 kilometres of prospective iron formation interpreted from geophysics. The property is traversed by two ENE trending shear zones. Physiography is typical of the Canadian Shield with gentle, tree-covered terrain interspersed with muskeg and lakes.
Magnetic data indicates that strong folding of the iron formation has occurred resulting in the development of multiple steeply plunging fold hinges. Examples of fold hinges hosting mineralization include the past producing Lupin and Homestake mines. The setting of the Savant Lake gold occurrences also shows many similarities to several other significant iron formation hosted gold deposits including Goldcorp's Mussewhite Mine, Agnico Eagle's Meadowbank Mine and Agnico's recently discovered Amaruq deposit.
The Savant Lake Property, which had not seen any significant exploration since the early 1980's, hosts seven known gold occurrences that have yielded gold values ranging from below detection limit (BDL; <0.1g/t Au) to 138.87 g/t in recent prospecting. Of the seven historical gold showings on the property, all but one is spatially related to oxide facies iron formation. Gold mineralization is similar among all the showings, being hosted in mixed iron formation and adjacent pyritic meta-sediments with varying amounts of quartz veining and carbonate alteration.