The Viking Property is host to several gold bearing trends including the Thor Trend and Deposit and the Viking, Asgard, Thor’s Cross and Odin’s Triangle Trends.
Mineral exploration on the Viking Property began in 1987 with the bulk of the exploration and discovery work being completed since 2007. A total of 62 trenches and 131 drill holes totalling 18,978.2 metres have been completed on the Viking Property (Table 1). Exploration work has resulted in defining an NI 43-101 compliant resource along the Thor Trend; the Thor Deposit.
Early work in 1987 by BP Resources Canada Limited (“BP”) comprised regional soil sampling, prospecting and grid mapping that resulted in definition of a broad, moderate gold-in-soil anomaly. In 1988 BP conducted additional line cutting, grid mapping, prospecting and soil samples, and completed a helicopter borne magnetic and VLF-EM survey. From 1987 to 1990, Noranda Exploration Company Limited (“Noranda”) completed systematic soil and rock sampling, prospecting, geological mapping, and ground magnetic, VLF and Induced Polarization (IP) surveys. Noranda completed three diamond drill holes (SM-89-1, SM-89-2 and SM-90-1) totalling 353.6 m were completed along the Viking Trend. Drill assays from the Viking Trend include: 0.56 grams per tonne (“g/t”) Au over 5.3 m (SM-89-1); 0.61 g/t Au over 0.5 m (SM-89-2) and 0.17 g/t Au over 20 m (SM-90-1). The combined work by Noranda served to outline an approximately 3.7 km-long gold soil geochemical trend with associated bedrock mineralization along the Viking Trend. Initial sampling of the Thor Trend was completed.
During 2006, Altius acquired the Viking Property and conducted a comprehensive digital data compilation and rock sampling. In 2007, Northern Abitibi Mining Corporation (“Northern Abitibi”) optioned the property from Altius.
From 2007 to 2011, Northern Abitibi completed soil sampling, prospecting, IP geophysical surveying, excavation of 62 trenches (TR1-62), road building (6.5 km), and 18,624.6 m of diamond drilling in 128 drill holes. The work resulted in outlining several areas of gold mineralization on the property including the Thor, Viking, Asgard, Thor’s Cross and Odin’s Triangle Trends. Work as resulted in initial and updated NI 43-101-compliant resources on the Thor Deposit in 2011.
The initial resource estimate on the Thor Deposit was completed for Northern Abitibi by Mercator Geological Services Limited in March 2011 and resulted in an Inferred Resource containing 6,284,000 tonnes grading 0.61 g/t Au (123,242 ounces) using a 0.2 g/t Au cut-off. In this initial estimate, high-grade domains are spatially constrained and capped at 28 g/t Au and low grade domains were capped at 5 g/t Au.
Follow-up work in 2011 by Northern Abitibi included 8 trenches (trenches 55 to 62) and drilling of an additional 24 holes totaling 4,698.2 m. This resulted in an updated mineral resource in late 2011 for the Thor Deposit.
Northern Abitibi sold the right to the property to Spruce Ridge Resources in 2012. No work has been completed on the property since late 2011.
The Thor Trend consists of mesothermal style quartz ± iron carbonate ± sulfide veins and stockworks hosted by altered Precambrian intrusive rocks. Surface mapping and drill core observations show that quartz veins within the Thor Trend commonly contain 2- 5% total sulfides consisting of pyrite, galena, chalcopyrite or sphalerite, and locally show trace amounts of visible gold.
Gold grades within the quartz veins range from less than 1.0 g/t up to 335 g/t and sheeted or stockwork vein sets surrounding high-grade veins typically contain 0.5% – 2% pyrite-galena-chalcopyrite-sphalerite along with minor visible gold. Iron carbonate is locally present in both high-grade veins and in mineralized vein stockworks. High-grade veins ranging from a few 10’s of centimetres to a few metres in width are common and are typically surrounded by a halo of veinlets containing lower grade mineralization. High-grade veins occur in all 3 of the main rock types (granite, augen gneiss, diorite) whereas larger lower grade zones of mineralization are best developed within the granite and augen gneiss units, and poorly developed within the diorite.
The Thor Deposit contains a Historical Mineral Resource Estimate as summarized in Table 2 below remains open for potential expansion along strike near surface and at depth.
The Thor Deposit hosts a Historical Mineral Resource Estimate as defined by the National Instrument 43-101 Standards for Disclosure for Mineral Projects and is not considered by the Company to be a Current Mineral Resource, since Anaconda Qualified Persons have not completed sufficient work to classify it as a Current Mineral Resource. The Indicated and Inferred Resources referenced above are taken from a technical report filed on SEDAR titled “MINERAL RESOURCE ESTIMATE UPDATE FOR THE THOR TREND GOLD DEPOSIT, NORTHERN ABITIBI MINING CORP., White Bay Area, Newfoundland and Labrador, Canada, Latitude 49o 42′ N Longitude 57o 00′ W” prepared for Northern Abitibi Mining Corp. by Dr. Shane Ebert, P. Geo. and Gary Giroux, P. Eng. MASc., December 30, 2011.
The Historical Mineral Resource Estimate of the Thor Deposit is based on 109 diamond drill holes totaling 15,574 m and 74 lines of surface channel samples cut from trenches using a diamond saw. Gold mineralization was constrained within a 3-dimensional geological solid built using Gemcom software. Gold assays within the mineralized solid were capped at 66.0 g/t Au while those outside the solid were capped at 4.0 g/t Au. Drill hole assay samples were composited into 2.5 m intervals and a block model with 5m x 5m x 5m block size was created. Gold grades were interpolated into all blocks, by a combination of ordinary and indicator kriging.
The Company considers the NI 43-101 report to be relevant and reliable given that the report was published recently and that no additional work of significance has been completed since the issuance of the Historical Mineral Resource Estimate.
The Viking trend has been tested by a total of 15 broadly-spaced drill holes. These returned significant intervals of altered and quartz-sulphide veined granodiorite augen gneiss, foliated monzogranite and deformed mafic rocks up to 45 m thick. Trenching along the Viking Trend has returned Au grades ranging between 0.10 and 0.40 g/t over continuously sampled intervals of up to 40 m, and high-grade results including a grab sample from a large boulder of altered granite from the northeast end of the Viking trend which returned 12 g/t Au, and a channel sample grading 9.9 g/t Au and 52 g/t Ag over 1.4 m. This northeast trending zone of anomalous Au in-soil geochemistry and linear magnetic low is interpreted to be a moderately east-dipping reverse fault which splays into the Doucers Valley Fault. Based on the lateral extent of gold in soil and rock mineralization and thickness of the host alteration system the Viking Trend warrants follow-up exploration drilling.
Three other gold-bearing mineralized trends are located on the property: the Thor’s Cross, Asgard and Odin’s Triangle Trends. Results of trenching, sampling and core drilling in these areas have demonstrated that both higher-grade quartz vein and disseminated low-grade styles of Au mineralization are present.
|1987||BP Resources||Line cutting and soil sampling, prospecting, geological mapping and airborne magnetics and VLF-EM||Definition of broad gold-in-soil anomaly|
|1987-1988||Noranda||Prospecting, geological mapping, rock and soil sampling||Viking Trend anomaly identified|
|1989||Noranda||systematic soil and rock sampling, prospecting, geological mapping, diamond drilling, ground magnetics, VLF and IP surveys||2 holes – 243.2 m (SM-89-1 and 2)||45 m of altered granite assaying 0.56 g/t Au over 5.3 m; discovery of the Viking Trend|
|1990||Noranda||Additional linecutting, soil and rock sampling, ground magnetic, VLF and IP surveys, and diamond drilling||1 hole – 110.4 m (SM-90-1)||Discovery of the Thor Trend; SM-90-1 assays 0.17 g/t Au over 20 m|
|2006||Altius Minerals||Data compilation, drill core review and rock sampling|
|2007||Northern Abitibi||Road building, prospecting and trenching||6 trenches (TR-1 to 6)||Assays up to 26.6 g/t Au from Viking trend, traced zone of mineralization over 200 m|
|2008||Northern Abitibi||Trenching, diamond drilling, geological mapping||20 trenches (TR-7 to 26)||10 holes – 575 m (08VK-01 to 10)||Re-discovery of Thor Trend; assays up to 2.2 g/t Au over 7 m in trenches. Drill assays up to 33.74 g/t Au over 5.75 m (08VK-01); 5.12 g/t Au over 23 m (08VK-03)|
|2009||Northern Abitibi||Trenching, diamond drilling, geological mapping||15 trenches (TR-27 to 41)||35 holes – 3,612.6 (09VK-11 to 45)||Expansion of the Thor Trend; 2.8 g/t Au over 57.4 m (09VK-14); 4.1 g/t Au over 18.2 m (09VK-19)|
|2010||Northern Abitibi||Trenching, diamond drilling, rock and soil sampling||13 trenches (TR-42 to 54)||59 holes – 9,734.8 m (10VK-46 to 103)||Expansion of the Thor Trend; 1.8 g/t Au over 32 m (10VK-60)|
|2011||Northern Abitibi||Trenching, diamond drilling, IP surveying||8 trenches (TR-55 to 62)||24 holes – 4,698.2 m(11VK-104 to 128)||Initial and Resource Update for the Thor Trend|
|Totals||62 Trenches||131 Holes – 18,974.2 metres|
Table 1: Viking Property Historical Work
|Resource Category||Cut-Off (grams per tonne)||Tonnes||Grade (grams per tonne)||Ounces of Gold (Au)|
Table 2: Thor Deposit Historical Mineral Resource Estimate Summary