Proven At Depth. The Source Is The Target.
VMS system confirmed at depth. Source target now drilling.
Conductive trend defined from reprocessed geophysics, running south to Target #6
Drill intersection widths
NBJMAP exploration grant from the Province of New Brunswick
The 2022 drilling confirmed VMS mineralization at depth across the target. EarthEx modelling traces a strong late-time conductive trend running 1.5 km south toward Target #6 — interpreted as the source of the system. Target #6 is in the active Phase 3 program.
Drill results are certified assays as reported in the Company’s news releases of November and December 2022. See Technical Notes.
Phase 1 Drill Program Certified Assays 2022 from Oct 2022 Drill Program
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WD-26-09 and WD-26-10 intervals are reported as true widths. All other widths are drilled core lengths and true widths are not yet known. Certified assay results and visual estimates from core logging are identified separately wherever they appear. Assays for the remaining Phase 3 holes are pending at ALS Global.
Copper equivalent values are for comparison only and are not directly comparable between holes; each is calculated on the metal prices and recovery assumptions disclosed in its own news release, which differ by release.
| Hole / Group | Pricing Date | Source | Recovery |
|---|---|---|---|
| 2024 Wedge holes | 13 May 2024 | — | 80% |
| WD-25-02 | 13 February 2026 | — | 80% |
| Nine Mile Brook bulk sample | 27 February 2026 | — | 80% |
| WD-25-2B | 1 April 2026 | — | 80% |
| WD-26-09 | 11 August 2026 | Bloomberg | 95% |
| WD-26-07 | 15 August 2026 | Bloomberg | 95% |
| WD-26-10 | 26 August 2026 | Kitco | 95% |
Cominco production figures for the Wedge — approximately 1.5 Mt at 2.88% Cu, mined 1962–1968 — are historical, are sourced to McCutcheon et al. (2005), predate National Instrument 43-101, have not been verified by a Qualified Person, and are not current mineral resources or mineral reserves. Historic camp production tonnages and grades are sourced to McCutcheon, S.R. and Walker, J.A. (2020), Geoscience Canada, v.47(3), Table 1, published by the Geological Association of Canada.
No mineral resource or mineral reserve has been estimated on any Nine Mile Metals property to date. A mineral resource estimate for the Wedge is in progress; there is no assurance that it will be completed or that it will support a mineral resource. Geophysical targets shown are conceptual, are derived from modelling, and are not mineral resources.
Samples are analyzed by ALS Global, Moncton, New Brunswick, an accredited laboratory independent of the Company. Base metals by ME-ICP61a four-acid digestion with ICP-AES; gold by fire assay Au-AA23 with AA finish; overlimit gold by gravimetric analysis and overlimit base metals by OG62. ALS runs its own QA/QC protocols including coarse and pulp duplicates. The Company inserts certified reference materials, duplicates and blanks with review of all results; QA/QC and data validation were performed and no material errors were observed.
The scientific and technical information in this presentation has been reviewed and approved by Gary Lohman, B.Sc., P.Geo., VP Exploration and Director, the Company’s Qualified Person under National Instrument 43-101. Mr. Lohman is not independent of the Company. The Qualified Person has verified the data underlying the technical information in this presentation, including sampling, analytical and test data.
References to the Bathurst Mining Camp as the third largest VMS camp in the world are based on published district tonnage comparisons, which rank the camp third at approximately 250 Mt. Source: Barrie, C.T. and Hannington, M.D., Classification of Volcanic-Associated Massive Sulfide Deposits Based on Host-Rock Composition, Reviews in Economic Geology. That comparison excludes districts in China and the former Soviet Union.
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