CONFERENCE CALL ASX Announcement 27 th April 2020 INITIAL ASSAYS HOLE 1 - 64NORTH PROJECT, ALASKA 1
64NORTH –TENEMENTS & PROSPECTS/BLOCKS Large land position surrounding Pogo Gold Mine • 1,174 State mining claims 660 km 2 • Pogo Gold Mine Northern Star ASX:NST • 10 M oz gold endowment with exploration upside at the Pogo Gold Mine, with 4 new discoveries announced by ASX:NST • Total mine life production to date 4m oz Au @ 13.6g/t Au and still operating. • 300,000 oz Au /yr historic average 2
POGO-STYLE VEINS - DRILL HOLE 20AU001 Typical Pogo-style • ~ 3% pyrite, arsenopyrite, pyrrhotite • Au-As-Bi-Te • Dolomite-sericite alteration halo • Para-gneiss host Hole ID 20AU001 (hole 1) boxes 59 and 60 whole core; depth 126.42m to 130.37m quartz veining in paragneiss. The red inset box is enlarged in next slide with a close up photograph of cut ½ drill core. 3
POGO-STYLE VEINS - DRILL HOLE 20AU001 Typical Pogo-style • ~ 3% pyrite, arsenopyrite, pyrrhotite • Au-As-Bi-Te • Dolomite-sericite alteration halo • Para-gneiss host Hole ID 20AU001; cut ½ drill core 127.16m to 127.3m quartz veins, arsenopyrite, pyrite(s) in paragneiss. Grade 0.19g/t Au, >10,000ppm As, 9.4ppm Bi, 1.13ppm Te. 4
DRILL HOLE 20AU001 Strip Log: Pogo-style evident Typical Pogo-style • ~ 3% pyrite, arsenopyrite, pyrrhotite • Au-As-Bi-Te • Dolomite-sericite Strong Au-As-Bi-Te alteration halo correlation, multiple zones • Para-gneiss host 127.16m Hole: 20AU001 5
DRILL HOLE 20AU001 Strip Log: Pogo-style evident (119-139m) Typical Pogo-style • ~ 3% pyrite, arsenopyrite, pyrrhotite • Au-As-Bi-Te • Dolomite-sericite alteration halo • Para-gneiss host Strong Au-As-Bi-Te correlation 119-139m 127.16m Hole: 20AU001 6
POGO STYLE – MINE MINERALISATION MODEL Elevated gold/arsenic/bismuth anomaly Gold-bearing quartz veins Low Angle Veins (Liese 1-3, East Deep) Serpentinite, amphibolite • These veins contain the bulk of the ore at Pogo Graphitic schist • 2-20 m thick • Hosted in regional shear zone – compression with later extension for more dilation • Shearing exploits mafic and graphitic rocks within gneiss High Angle Veins (North Zone, X-Vein) • Previously not important sources of ore • 1-5 m thick N-S/NE-SW oriented escape structures for plutonic fluids • Thought to be feeder structures Other characteristics of Pogo • Free milling gold • Low sulfide quartz veins ~ 3% pyrite, arsenopyrite, pyrrhotite, As-Bi-Te • Dolomite-sericite alteration halo • Magmatic fluid source 7
64NORTH – WEST POGO BLOCK: AURORA PROSPECT The Right Ingredients þ Right Geology – Granitic Intrusions, age 80-102 Ma, main mineralizing engine room present throughout Tintina Gold Province þ Brown fields – next to Pogo Gold Mine þ Same rocks as Pogo Mine þ Large structures – potential fluid pathways þ Highly anomalous surface geochemistry – soils, streams and rock chips þ Evidence of vertical feeder systems typical of Pogo-style mineralisation in historic drilling (western end of valley), mapping and geochem samples þ Geophysics – strongly demagnetised zone mirror of Goodpaster & Pogo þ Geophysics – CSAMT survey, indicate same conductors on RML ground þ Access Road constructed þ Water well drilled þ Drilling permits issued Completed drill target locations (green dots), incomplete hole (blue dot) and planned further drill holes (orange dots) 8
Line 6 CSAMT Survey and Cross Section with drill traces Hole1: 20AU001 The hole was designed test multiple structural targets and magnetic features not shown on the CSAMT section as well as the margin of the more conductive rock unit. Due to logistics it was drilled first while access to the next planned hole to the north was established. From surface the hole drilled through 5m of overburden and intersected predominantly biotite-quartz-feldspar paragneiss through to the end of hole. Logging indicates multiple zones of quartz veining with various orientations, thickness and vein density, as well as barren zones. The paragneiss is interpreted to be the same host rock as the Northern Star Pogo Gold Mine. Assays and visual logging of drill core confirms a Pogo-style mineral system is present at Resolution’s Aurora Prospect area. Strong sericite and dolomite alteration are present in the biotite-quartz-feldspar paragneiss and are associated with sulphide- bearing quartz veins including arsenopyrite, pyrite, bismuthinite and pyrrhotite. Assays with high levels of arsenic (As), bismuth (Bi) and elevated tellurium (Te) support the geological logging and correlation between Au-As-Bi-Te is demonstrated on the strip log and is typical of a Pogo-style mineral system. Next drill hole planned for summer 2020 and completed HoleID:20AU001 (March 2020) and assays released 27 April 2020. Left axis is RL (elevation) in meters. 9
64NORTH – WEST POGO BLOCK: AURORA & ECHO TARGETS The Right Ingredients þ Right Geology – Granitic Intrusions, age 80-102 Ma, main mineralizing engine room present throughout Tintina Gold Province þ Brown fields – next to Pogo Gold Mine þ Same rocks as Pogo Mine þ Large structures – potential fluid pathways þ Highly anomalous surface geochemistry – soils, streams and rock chips þ Evidence of vertical feeder systems typical of Pogo-style mineralisation in historic drilling (western end of valley), mapping and geochem samples þ Geophysics – strongly demagnetised zone the mirror of Goodpaster & Pogo þ Geophysics – CSAMT survey, indicate same conductors on RML ground West Pogo Block, intended drill targets for year 1, green (completed), blue (incomplete) and orange (planned) dots. 10
ASX Announcement 27 th April: INITIAL ASSAYS HOLE 1 - 64NORTH PROJECT, ALASKA Prospect From To Interval Au (g/t) Hole ID 20AU001 Aurora 94.31 94.86 0.55 0.52 20AU001 Aurora 124.83 126.31 1.48 0.31 20AU001 Aurora 129.76 131.04 1.28 0.35 20AU001 Aurora 152.85 153.22 0.37 0.30 20AU001 Aurora 241.80 242.76 0.96 0.42 20AU001 Aurora 276.88 277.00 0.12 0.94 Competent Persons Statement The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Duncan Chessell who is a member of the Australasian Institute of Mining and Metallurgy. Mr Duncan Chessell is a full-time employee of the company and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Duncan Chessell consents to the inclusion in the report of the matters based on his information in the form in which it is appears and confirms that the data reported as foreign estimates are an accurate representation of the available data and studies of the material mining project. This report includes results that have previously been released under JORC 2012 by the Company on 17 October 2019, “Binding agreement earning 80% of Gold Project in Alaska”, “Gold Symposium Conference Presentation” 24 October 2019, “AGM Presentation” 26 November 2019 and “Operations Update at 64North Project, Alaska” 31 March 2020 and “Initial assays Hole 1 – 64North Project, Alaska” 27 April 2020. The Company is not aware of any new information or data that materially affects the information included in this announcement and all material assumptions and technical parameters underpinning the Mineral Resource continue to apply and have not materially changed. 11
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