Savant Lake Project - Ontario

Location:
240 km NW of Thunder Bay, NW Ontario. Accessible by all-weather road and within 25 km of CNR main rail line

Property:
1,130 claims totalling 23,525 hectares (235 sq. km) covering Savant Lake Greenstone Belt hosting 60 km cumulative strike length of underexplored iron formation. (government spending requirement up to date into 2020)

Target:
Iron-formation (Musselwhite-type) and shear-hosted gold. VMS potential also.

Ownership:
NDR Option to earn 100% interest, remaining $C 30,000 payment on or by April 1st, 2020. Vendors retain 2% NSR, 1% buyout for $C 1M.

Project Highlights

Eight known gold showings on the property:

Grab (select) sampling of surface exposures of the known showings has returned assays ranging from geochemically anomalous to high-grade, with best assays from each area reported in the table above as “Best Surface Sample”

Upcoming Work Program

  • Future 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.

Work Performed

  • External review of Savant property conducted by Fladgate Exploration in May 2019. This led to the staking of additional ground in the Savant Greenstone Belt in June 2019.
  • 2018 – 10-day prospecting program confirmed Au mineralization in grab (select) samples at all 6 of the historic showings visited:
    • Horseshoe iron formation 21.3 g/t Au and 6.1 g/t Au
    • Shoal iron formation 8.1 g/t Au
    • L28 iron formation 2.9 g/t Au
    • One Pine iron formation   1.3 g/t Au
    • Big Sandy shear zone 0.8 g/t Au
    • Snowbird iron formation   0.3 g/t Au
  • 2018 - Au mineralization in grab (select) samples were discovered in previously unknown locations:
    • 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 formation 0.3 g/t Au
  • Winter 2017 - New Dimension completed an initial 8-hole, 1626 m diamond drill program on the property to test geophysical (conductive) targets generated from the 2016 airborne VTEM survey. Many of the high-grade Au showings and high priority VTEM anomalies remain untested.
  • 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 grab 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 geochemically anomalous to 138.87 g/t gold. In total, 35 grab (select) amples 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.

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.
Comparison maps (same scale) showing Goldcorp’s Musselwhite Mine land position with iron formation versus Savant Lake.
Comparison maps (same scale) showing Goldcorp’s Musselwhite Mine land position with iron formation versus Savant Lake.

Cautionary note about adjacent properties. Goldcorp’s Musselwhite gold mine is an adjacent property,which the Company has no interest in or right to acquire. Mineral deposits on adjacent or similar properties, and any production therefore or economics with respect thereto, are not in any way indicative of mineral deposits on the Savant Lake project or the potential production from, or cost or economics of, any future mining operations on the Company’s mineral properties.

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