The Great Northern Project

The Great Northern Project is an exploration-stage project that forms part of Anaconda’s pipeline of projects within reach of the Pine Cove Mine and Mill Complex.

The Great Northern Project area is located in northwestern Newfoundland, approximately 3 km northwest of the village of Jackson’s Arm, White Bay. The area is accessible by provincial Route 420, which is connected to the Trans-Canada Highway (TCH) 75 km to the south. The Great Northern Project consists of 259 mineral claims and covers 6,475 hectares.

The Project centered along the Doucer’s Valley Fault, a regional splay off the Long Range Fault. The Doucer’s Valley Fault is a significant geological control on and host to several gold deposits, including Anaconda’s Thor Deposit (63,000 ounces Indicated and 20,000 ounces Inferred Resources) and the Rattling Brook Deposit (495,000 ounces Inferred Resources).*

Gold mineralization in the Great Northern area occurs either as disseminated gold, hosted in Precambrian or Ordovician granites or in the unconformably, overlying adjacent volcanic and sedimentary rocks. The sedimentary-hosted gold mineralization is typically higher grade. The Rattling Brook Deposit shows both styles of mineralization with granite-hosted gold mineralization in the Road and Incinerator Trail zones and sedimentary-rock-hosted Beaver Dam zone or as a combination as in the Aspy zone.

Mapping by Anaconda in late 2016 outlined a 1.7 km long by 40 to 400 m wide continuous alteration zone that is host to the main gold prospects at Jackson’s Arm on the east side of the Project area. The alteration is controlled by a fault zone that is interpreted to extend immediately to the north along strike beyond the current, known zone of alteration. The Company has also discovered similar repeating faults to the east. Consequently, Anaconda believes the potential strike of the alteration system could extend an additional 4 km, both north and east.

The Project includes several gold prospects and showings, including the Shrik, Stocker, Boot N’ Hammer, 954 Prospects and the Incinerator Trail Zone. Surface grab samples assaying up to 20.2 g/t gold and 1232.0 g/t silver at the Boot N’ Hammer Prospect; up to 56.7 g/t gold and 2.75 ounces per tonne silver at the Stocker Prospect; up to 7.2 g/t gold at the Shrik prospect; and 13.6 g/t gold at the 954 Prospect. The Incinerator Trail Zone has been tested by four reconnaissance-style diamond drill holes in the 1980’s and returned gold assays of 1.78 g/t over 4.00 metres (hole RB-35) and 2.30 g/t gold over 4.05 metres (hole RB-41).

*Resource taken from the NI 43-101 report for the Jackson’s Arm Project entitled “TECHNICAL REPORT ON MINERAL RESOURCE ESTIMATE FOR JACKSON’S ARM GOLD PROJECT WHITE BAY AREA NEWFOUNDLAND AND LABRADOR, Latitude 49o 53’ 2.65’’North, Longitude 56o 50’ 7.09’’ West”, with an effective date of April 20th, 2009. Prepared For: Kermode Resources Ltd. by Mercator Geological Services Limited.

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