Thundercloud, Ontario, Canada

The Company signed an option agreement with Teck Resources Ltd. in early 2018 to earn into 100% interest in Thundercloud as outlined in the Company's press release of February 1.

Project Overview

The Thundercloud Property is located in the central Wabigoon greenstone belt in Western Ontario. The geological setting is analogous to the Abitibi belt in Eastern Ontario but Thundercloud is much less explored. The belt contains numerous gold showings, several deposits and historic past producers including the Big Master Mine (1902-1943) and the Laurentian Mine (1906-1909). Results to date indicate excellent potential to define bulk-tonnage orogenic gold mineralization with potential for high grade mineralization. Close to 30 M oz of gold has been discovered in the area in recent years.

The Property consists of 2,250 hectares, located 47 kilometres southeast of Dryden, northern Ontario. It is readily accessible from the Trans-Canada Highway (Hwy 17). Dryden is a resource-based town with excellent infrastructure necessary for mining operations. Several large scale mining operations in the area include New Gold's Rainy River Mine (6.4 million oz gold and 18.7 million oz silver), and Goldcorp's Red Lake Gold Mine (9.25 million oz gold) as well as multiple multi-million ounce gold reserves, defined at the Canadian Malartic Hammond Reef deposit (5.8 million oz gold), and First Mining Gold's Springpole deposit (4.9 million oz gold).


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Regional Geology

The Manitou-Stormy Lakes Greenstone belt lies within the western Wabigoon Subprovince, a granite-greenstone terrane of the Superior Province. A number of thick volcano-sedimentary sequences consisting of mafic to felsic lavas and associated intrusions and pyroclastic rocks, all of which are generally overlain by sedimentary sequences, characterize the belt. Gold-bearing mineralized zones are focused in a north-south corridor within the central portion of the property. Host rocks comprise tholeiitic basalts overlain by a suite of clastic rocks of the Stormy Lake Group, including conglomerates, breccias and sandstones with a wide range in matrix and clast compositions. These rocks form a structurally complex central corridor between the intermediate composition Taylor Lake stock (26954 Ma: Davis et al. 1982) to the west and the felsic Thundercloud quartz-feldspar porphyry ("QFP") to the east.


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Property Geology and Mineralization

Gold is associated with hydrothermal alteration domains characterized by biotite-magnetite alteration with minor quartz veins and pyrrhotite. Biotite-magnetite alteration is in turn cut by chlorite-carbonate and pyrite. Both pyrrhotite and pyrite occur as disseminations, clots and veins, and are variably strained. In general, there is a correlation between sulphide concentration and gold grade, though a high ratio of pyrrhotite relative to pyrite appears to be the key for gold enrichment.

Given the importance of magnetite and pyrrhotite in the hydrothermal assemblage, several untested ground magnetic targets warrant trenching and/or drill testing. The presence of sulphides in association with gold suggests that chargeability is a key targeting tool, and this is confirmed by an excellent association of gold with a strong chargeability anomaly in the Pelham area. Additional modelled chargeability anomalies remain untested.

Past Exploration Work


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Two main zones were identified on the Property, the Pelham Zone and West Contact Zone. Most of the drilling was done in a small part of the Pelham Zone. Initial resource estimate of 300,000 oz of gold (not NI43-101 complaint) was calculated from drilling in this Zone.

Trench samples collected from the West Contact Zone during the 2006/2007 exploration campaign returned between 1.0-9.8 g/t gold, including 8.02 g/t gold over 39.0 m and 89.4 g/t gold over 3.0 m. Little follow up work was done in this area which will be one of the main focuses of the Company's upcoming exploration program.

Highlights of drill results from historic work and the recent drilling by Teck (2007 and 2008) and Laurentian Goldfields (2011) include:

  • 113.0 m @ 1.72 g/t Au (88-10)
  • 60.30 m @ 1.46 g/t Au (88-05)
  • 55.25 m @ 2.19 g/t Au (TC08-11), including 1 m @ 37.5 g/t Au, 9.34 m @ 7.91 g/t Au and 21.73 m @ 4.63 g/t Au
  • 29.66 m @ 0.77 g/t Au including 9.04 m @ 2.20 g/t Au (TC08-09)
  • 68.8 m @ 1.55 g/t Au (TC11-001)
  • 81.0 m @ 1.31 g/t Au (TC11-006)

The highest grade from historical drilling returned up to 192.7 g/t gold over 0.55 meters.

Fladgate Exploration Consulting was contracted in 2011 to create a 3D resource model of the Thundercloud historical drill data, assuming a specific gravity of 2.7 for all rocks. The model for the Pelham Zone exploration target showed an estimated potential amount of contained gold of 300,000 ounces, at a head grade of 1.6 g/t Au, using a 0.5 g/t cut-off grade, in the different grade shells. This initial resource estimate was developed for targeting purposes, and it is not National Instrument 43-101 compliant.


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The Company is currently reviewing and compiling past exploration data on Thundercloud to define targets to augment the current historical resource and to follow up on the past trenching results.