Croteau Est Gold Property

Summary

  • Completed a review of all geoscientific data associated with the NI 43-101 compliant gold resource (CBSZ);
  • Designed a core drill program to determine the extension of high grade gold shoots (including intersections of: 11.06 g/t gold over 9.10m including 43.75 g/t gold over 2.00m, 61.24 g/t gold over 5.95 m including 705 g/t gold over 0.5 m, 7.50 g/t gold over 7.95m including 56.40 g/t gold over 1.00m, 1.99 g/t gold over 34.65m including 9.46 g/t gold over 2.35m) associated with the CBSZ, east and west of the gold deposit and to depth; and
  • Designed core drill programs to test at least 4 key gold showings identified across the property.

The Bird in Hand

This property already has an NI 43-101 compliant gold resource defined (CBSZ). However, as clearly indicated from subsequent drill programs the system is open at depth and along strike in both directions. In fact, an understanding of where gold mineralization occurs within the related system lead to the last two phases of drilling having a success rate of 96% in terms of intersecting high-grade gold shoots (including intersections of: 11.06 g/t gold over 9.10m including 43.75 g/t gold over 2.00m, 61.24 g/t gold over 5.95 m including 705 g/t gold over 0.5 m, 7.50 g/t gold over 7.95m including 56.40 g/t gold over 1.00m, 1.99 g/t gold over 34.65m including 9.46 g/t gold over 2m). Due to a lack of funds during the recent severe bear market, the extensions of these shoots were never followed up on with additional drilling.

Blue Sky Potential

During the bear market, the Company invested wisely in low cost prospecting programs which lead to the discovery of several gold showings across the property. These discoveries lend credibility to the concept that where a large gold-bearing system occurs hosting gold mineralization such as the CBSZ, there are likely more such opportunities on the land package which is 12,454 hectares in size. Currently there are four other gold showings identified on the Croteau Est property that should be tested.

The Company has developed a 13 hole, 4,800m core drill program to follow up on those significant 2017-2018 intercepts and define the extension of the gold mineralization within the CBSZ along strike to the west, east and at depth. Total cost of this program is approximately $900,000. In addition, the Company has a plan to test four key gold showings identified elsewhere on the property through a seven hole, 1,400m core drill program, a budget of approximately $260,000.