Antler Gold Inc., Newfoundland, Canada

Project

Antler Gold Inc., Newfoundland, Canada

Antler Gold’s Projects

Antler Gold acquired from Altius Resources a large regional land-position within eight project blocks in an emerging gold camp in Central Newfoundland. Antler has earned a 100% interest in the first option agreement in the Wilding and Noel Paul Projects (215km2), called the Wilding Lake Project, and 100% interest in a second option agreement on 5 other properties (420km2) called the Regional Project that include the Crystal Lake, Victoria River, Victoria Lake, Intersection and Cape Ray properties. Antler Golds projects cover 140km (635km2) of prospective strike length of an approximate 300km regional gold bearing structural corridor from southwest to northeast between the communities of Channel-Port Aux Basques and Grand Falls-Windsor. The Wilding Lake Project lies within central Newfoundland (see Figure 1.) approximately 40 km south of Buchans and is accessed by a well-maintained gravel road and subsidiary forest access roads. The mineralizing system along this trend, as demonstrated on the Wilding Lake project, is capable of producing both high grade gold and significant widths that include channel sample gold results of 6.0g/t over 8.5m, 8.7g/t over 6.7m, 49.3g/t over 4.6m, and 28.8g/t over 1.0m from the Alder/Taz zone, and drill results include gold intercepts of 10.01g/t over 5.35m including 49.92g/t over 0.98m (Elm Zone), and 1.51g/t over 11.0m (Red Ochre Complex). The Wilding Lake Project is located adjacent to Marathon Gold Corporation’s Valentine Lake project with a May 1st, 2018 reported resource of 2.13 million oz. (M&I) at 1.99 g/t Au and, 1.10 million oz. (Inferred) at 1.99 g/t Au. Antlers land package covers the projected structural corridor that is believed to control the regional gold mineralization such as at Valentine Lake. See Figure 2 and Figure 4.

Focused On Regional Gold Bearing Structural Corridor Target

Antler’s Projects are strategically located and target the gold potential along a significant regional structural corridor that is over 350 kilometres long defined by a deep crustal fault zone that extends southwest to northeast through central Newfoundland. The fault zone includes structures such as the ‘Valentine Lake Fault’ around the Marathon Gold’s Valentine Lake and Antlers Wilding Lake gold projects, the ‘Cape Ray Fault’ to the south within Matador Mining gold project, and the ‘Noel Paul’s Line’ to the north. This regional gold bearing structural corridor has geological characteristics similar to the regional Destor-Porcupine and Cadillac-Larder Lake Break Gold Camps that both extend from Timmins and Kirkland Lake, Ontario respectively to Val-d’Or, Quebec (both over 250 kilometres long). Both of these regional breaks are located in the Abitibi Greenstone Belt that has produced over 180 million ounces of gold since the early 1900’s.

Similarities between Antlers large regional land position covering the regional structural gold bearing corridor in Newfoundland and the world-class gold producing Destor-Porcupine and Cadillac-Larder Lake Breaks in Ontario/Quebec include:

  • Over 250 Km long regional deep crustal fault zone and important conduits for gold bearing fluids.
  • Gold mineralization is epigenetic, and
  • Structurally-controlled and often associated with splays or secondary structures off regional-scale fault zones.
  • Mineralization occurs in a wide range of rock types, with iron-rich the preferred host.
  • The Orogenic gold mineralization consist of both vein-hosted and altered wall-rock styles of mineralization.
  • Vein hosted occurrences the gold occurs either as free-gold or in association with pyrite, arsenopyrite or base metals.
  • Veins are typical of shear-zone hosted gold mineralization and comprise both shear and extension-type veining.

Recent exploration in central Newfoundland has highlighted the importance of this regional structural corridor that hosts a number of significant gold deposits and prospects along 350 km of its extent. The mineralizing system along this trend, as demonstrated on Antlers Wilding Lake project, is capable of producing both high grade gold and significant widths (that include channel sample gold results of 6.0g/t over 8.5m, 8.7g/t over 6.7m, 49.3g/t over 4.6m, and 28.8g/t over 1.0m from the Alder/Taz zone, and drill results include gold intercepts of 10.01g/t over 5.35m including 49.92g/t over 0.98m (Elm Zone), and 1.51g/t over 11.0m (Red Ochre Complex). The Wilding Lake Project is located adjacent to Marathon Gold Corporation’s Valentine Lake project with a May 1st, 2018 reported resource of 2.13 million oz. (M&I) at 1.99 g/t Au and, 1.10 million oz. (Inferred) at 1.99 g/t Au. Antlers land package covers the projected structural corridor that is believed to control the regional gold mineralization such as at Valentine Lake.

Other high interest gold deposits and occurrences within the structural corridor include the Cape Ray project of Matador Mining Limited which hosts 367,000 oz. gold at 2.75 g/t (Indicated) and 158,000 oz. gold at 1.77 g/t (Inferred) (Abut et al., 2017). ), and on 24th July, 2018, Sokoman Iron Corp. reported that a drilling program has made a high-grade discovery in an area with little previous drilling at it’s Moosehead Gold Project. Drill assay results include hole MH-18-01, that intersected a mineralized zone that returned 11.90 metres @ 44.96 grams/tonne gold.

Wilding Lake Exploration Program and Discovery History

In late 2015, several large quartz boulders, the Taz Occurrence, were uncovered during forest access road construction in the Wilding Lake area. Grab samples from the boulders assayed up to 74.8 g/t Au.

In the summer of 2016, Altius Minerals Corp. (“Altius”) personnel carried out reconnaissance prospecting and soil sampling. A cluster of mineralized quartz-tourmaline boulders was discovered during the soil sampling. A trenching program to locate the bedrock sources of the boulders was undertaken from September to November 2016 resulting in the discovery of five significant new gold showings named, Alder, Taz, Elm, Cedar and Dogberry. The gold showings mainly consist of quartz-tourmaline veins containing clots of coarse-grained chalcopyrite, hematite, malachite and visible gold hosted by sheared Rogerson Lake Conglomerate. The style of mineralization is very similar to the nearby Marathon Valentine Lake gold deposits. In addition, prospecting discovered three other showings, Birch, the Third Spot and the Bridge, which are all hosted by felsic volcanic rocks and consist of narrow base metal-rich quartz veins.

During the 2017 winter and spring Antler generated a number of additional potential gold targets for follow-up from a combination of ground magnetic and Induced Polarization (“IP”) geophysical data focused over the new gold discovery area, regional helicopter-airborne magnetic geophysical data covering the entire Wilding Lake Project area, positive gold-in-till sample geochemical data, as well as positive gold assay in soil sample survey.

The 2017 summer and fall program consisted of detailed and regional soil sampling, prospecting and mapping, mechanical trenching, rock sampling and drilling. Together with the 2016 and 2017 collected soil samples, Antler has now received over 5,700 gold-in-soil sample assays. The 2017 soil survey was designed to extend the sampling completed in 2016 to the northeast and southwest and has successfully defined four significant anomalous gold-in-soil areas (Birch, Larch, Alder-Taz (AT) and Cedar-Elm (CE)). The increased soil survey area now covers over 7.0 kilometres of the prospective gold bearing regional structural corridor.

Mechanical trenching to locate the potential bedrock sources to the gold-in-soil anomalies commenced in August 2017 resulting in the new discovery of the Red Ochre Complex and Raven mineralized zones.

Antler completed a first phase drilling program in Q4/2017 that consisted of 30 core drill holes with a total meterage of 2,599 m. Initial drill testing targeted the Elm, Alder, Taz and Raven zones which all consist of mineralized quartz vein systems hosted within sheared Rogerson Lake conglomerate, with results that include gold intercepts of 10.01 grams per tonne (“g/t”) over 5.35 metres (“m”) including 49.92 g/t over 0.98 m from the Elm Zone. The highlight of the summer 2017 exploration season was the discovery of gold within the felsic volcanics immediately to the south of the conglomerate/felsic volcanic contact, and in particular within a series of brittle fractured linear feldspar porphyry units (2 drill holes at the Red Ochre Complex) that trend across the entire length of the property. Drill results include gold intercepts of 1.51 gpt over 11.0 m. This has significantly increased the future potential opportunity to discover new gold occurrences with further drill programs on the Project.

Wilding Lake Project 2016 and 2017 Exploration

The Wilding Lake Project is underlain by Cambrian to Ordovician age volcanic and sedimentary rocks of the Tally Pond and Red Cross Lake groups and Silurian age sedimentary rocks of the Rogerson Lake Conglomerate. See Figure 3. The rocks underlying the Wilding Lake project are equivalent to those underlying portions of Marathon Gold’s Valentine Lake Gold deposits, located 15-30 km to the west-southwest, and also occurs within the same projected structural corridor that is believed to control the regional gold mineralization. See Figure 4. The gold mineralization is epigenetic and structurally-controlled and often associated with splays or secondary structures off regional-scale fault zones. As typical of orogenic gold mineralization elsewhere, the gold comprises both vein-hosted and altered wall-rock styles of mineralization. In vein hosted occurrences the gold occurs either as free-gold or in association with pyrite, arsenopyrite or base metals. The veins are typical of shear-zone hosted gold mineralization and comprise both shear and extension-type veining.

Wilding Lake Project: Soil Sample Geochemical Survey, Mechanical Trenching and Channel Sampling

The 2017 Wilding Lake soil survey was designed to extend the sampling completed in 2016 to the northeast and southwest and has successfully defined four significant anomalous gold-in-soil areas (Birch, Larch, Alder-Taz (AT) and Cedar-Elm (CE)). See Figure 5. The increased soil survey area now covers over 7.0 kilometres of the prospective gold bearing regional structural corridor. See Figure 6.

Mechanical trenching to locate the potential bedrock sources to the gold-in-soil anomalies commenced in August 2017 resulting in the new discovery of the Red Ochre Complex (See Picture 1) (See Picture 2) and Raven mineralized zone.

New Discoveries 2016 and 2017

The Project hosts multiple gold occurrences discovered in 2016, Alder, Taz, Elm, Cedar and Dogberry, and 2017 gold discoveries include the Red Ochre Complex and Raven occurrence. See Figure 7. Gold mineralization is of high grade within shear-related orogenic style quartz veins and quartz stockworks underneath a shallow overburden in an area that has not previously been systematically explored for gold.

The new 2016 gold occurrences, located within an important regional gold bearing structural corridor immediately northeast of Marathon Gold Corporation’s Valentine Lake project, demonstrate a robust gold system producing bonanza grade and significant widths hosted by the Rogerson Lake conglomerate that include:

Alder-Taz Zone (“AT Zone”): The AT Zone occurs as coarse, free gold in association with chalcopyrite and tourmaline bearing quartz veins hosted with the Rogerson Lake conglomerate. On January 24, 2017 Antler announced that further trenching at the Alder Zone showing resulted in extending the strike length of this zone to approximately 100 m (open along strike in both diections), and also reported that the mineralized zone had been extended by several metres in each direction across strike (northwest and southeast). The press release also reported composite saw-cut channel sample gold values of 8.7 g/t over 6.65 m (includes 13.8 g/t over 4.0 m); 3.5 g/t over 6.05 m; and 6.5 g/t over 3.70 m (includes 19.2 g/t over 0.9 m). (See Figure 8) (See Picture 3).

The Company also reported that prospecting resulted in the discovery of the Taz Zone, which is located approximately 125 m along strike to the southwest of Alder. The Taz vein returned reported saw-cut channel sample gold assays that included 21.8 g/t over 1.0 m and 64.2 g/t over 0.8 m. (See Figure 9).

Three drill holes tested the Alder Zone and returned gold sample results of 0.90 g/t over 1.93 m in Hole WL-17-02; 2.02 g/t over 4.90 m including 11.14 g/t over 0.5 m and 4.34 over 0.5 m in Hole WL-17-03; and 0.46 g/t over 0.90 m in Hole WL-17-04. In addition, three drill holes tested the Taz Zone and yielded gold sample values of 0.5 g/t over 3.8 m in Hole WL-17-05; 0.96 g/t over 5.95 m including 2.26 g/t over 0.90 m in Hole WL-17-06; and 1.09 g/t over 4.55 m including 2.58 g/t over 0.55 m in Hole WL-17-07.

Overall, the AT Zone drill holes did not return sample assay results consistent to those encountered in the trench channel sample results. Further drilling is warranted to continue to fully test the potential of AT Zone firstly because, the nature of the gold mineralization is coarse with a high nugget effect with sulphide mineralization often occurring as localized pods within quartz veins that can be missed with too few drill holes testing the target and secondly, adjusting the orientation of the drill holes to a more northerly direction may better cross-cut and intersect the gold bearing array of sub-vertical extensional quartz vein sets.

Elm Zone: At Elm, initial mechanical trenching in 2016 exposed the main mineralized quartz vein for approximately 60 m, which attained widths ranging approximately between 0.3 m and 2.0 m. The zone yielded gold values from 1.0 g/t to 101.5 g/t, with a weighted average of 20.6 g/t Au (based on the 22 saw-cut channel samples that cut the vein) and described previously in a press release dated January 24th, 2017. In August and September 2017, further trenching extended the Elm Zone to approximately 230 m in strike length which remains open along strike in both directions. The northeast-striking and moderately to shallowly southeast-dipping Elm zone quartz vein system is hosted within intensely sheared Rogerson Lake conglomerate with chalcopyrite and malachite mineralization. Free coarse gold was noted which occurred in association with chalcopyrite and locally tourmaline.

Thirteen drill holes tested the Elm zone. Highlight drill hole gold assays include: Hole WL-17-01-01 returned 7.53 g/t over 3.12 m including 40.85 g/t over 0.5 m, Hole WL-17- 24 returned 10.01 g/t over 5.35 m including 49.92 g/t over 0.98 m, and Hole WL-17- 25 returned 4.73 g/t over 2.30 m including 10.96 g/t over 0.97 m. Gold mineralization is coarse with a high nugget effect and further drill testing is warranted to continue to expand the zone along strike and down-dip to further define potential high-grade gold shoots. (See Figure 10) (See Figure 11) (See Picture 4).

Red Ochre Complex and Raven Mineralized Zones (2017 Discovery):

The Red Ochre Complex (“RO”) is located immediately to the south of the conglomerate/felsic volcanic contact approximately 1.9 kilometres (“km”) to the southwest of the Elm Zone, and consists of brittle fracture style quartz veins and quartz stockworks hosted by feldspar porphyry rock. Sulphide mineralization predominantly occurs as disseminated and brittle fracture fill pyrite stringers. Mechanical trenching followed by saw-cut channel and grab sampling has defined an extensive area of anomalous gold mineralization in bedrock. (See Picture 5). Elevated gold grades occur where deformation structures cross-cut the feldspar porphyry. Two drill holes drilled under the main trench returned gold sample results consistent to the trench channel sample results. Hole WL-17-11 returned gold results of 0.32 g/t over 15.0 m and 1.51 g/t over 11.0 m, and Hole WL-17-12 drilled underneath Hole Wl-17-11 returned 0.22 g/t over 16.0 m and 0.98 g/t over 17.0 m (See Figure 12) (See Figure 13). The recently discovered Red Ochre gold-bearing feldspar porphyry unit, together with the associated anomalous gold-in-soil sample results, is a major new property wide gold target for further focused drilling programs. The feldspar porphyry unit is regionally well defined by a series of linear airborne magnetic high features that trend across the property in a northeast direction for approximately 8.5 kilometres within the regional gold bearing structural corridor.

The Raven Zone is located approximately 1.5 km southwest of the Elm Zone and approximately 400 m northeast of the RO Complex where trenching exposed a minimum 3.0 m wide shear zone with significant quartz veining with pyrite, chalcopyrite and malachite mineralization hosted within the Rogerson Lake conglomerate (See Picture 6) (See Picture 7). A total of four collected rock grab samples yielded gold assay values of 273.8 g/t, 15.4 g/t, 13.6 g/t, and 3.5 g/t described in press release dated October 4th, 2017. Note that grab samples are selected samples and results are not necessarily representative of the mineralization hosted on or indicative of a property’s potential.

Two drill holes tested the Raven Zone. Hole WL-17-08 returned gold results of 1.44 g/t over 5.1 m including 3.19 g/t over 0.75 m, and Hole WL-17-09 drilled underneath Hole Wl-17-08 returned 0.96 g/t over 5.15 m including 2.53 g/t over 1.0 m. Drilling under the trench did not encounter the significant concentration of pyrite, chalcopyrite and malachite mineralization that carries the high grade gold observed in the trench rock samples and may be due to the drill hole missing the poddy nature of the mineralization within quartz veins in the conglomerate. Antler’s geological team believes the Raven Zone warrants further drill testing along strike and at depth since the zone has an early estimated potential width of 5.0 m wide and an increased number of drill holes are required to test the poddy nature of the mineralization.

Geophysical Targets

Four drill holes tested IP and/or airborne magnetic geophysical targets. This includes Hole WL-17-28 that returned gold results of 0.46 g/t over 12.7 m from sulphide mineralization in felsic volcanic/feldspar porphyry similar to the RO located approximately 700 m along strike to the west, and Hole WL-17-29 returned gold results of 0.40 g/t over 14.45 m within highly altered Rogerson Lake conglomerate and 0.46 g/t over 11.75 m at the contact between the conglomerate and gabbro. The gabbro underlies the conglomerate and the gabbro is defined by a positive magnetic anomaly approximately 7.0 km long by 2.0 km wide. See Figure 14.

Recommended Exploration Programs

The 2016 and 2017 exploration programs have successfully highlighted the high gold potential that occurs within a number of different geological settings to target with further drilling programs on the Wilding Lake Project (See Figure 17), as well as, to explore similar potential targets within Antler’s other property holdings.

Further soil sampling programs are recommended to include detailed and regional gold-in-soil sampling programs that have proven very successful in discovering the gold occurrences at Wilding Lake. These soil programs would be focused along the regional gold bearing structural corridor at Wilding Lake, Noel Paul and Crystal Lake properties to define new prospective drilling targets (See Figure 15) (See Figure 16).

Further recommended drilling programs on the Project would include expanding both the Elm and Raven Zones along strike and to depth, test the AT Zone with a different drill hole orientation that may better cross-cut and intersect the gold bearing array of sub-vertical extensional quartz vein sets, continue to expand the RO feldspar porphyry and test the associated feldspar porphyry units that trend across approximately 8.5 kilometers of the property, and target the gold bearing conglomerate and gabbro contact aureole.

Howard Bird, P.Geo., Vice President, Exploration at Antler Gold, is the qualified person as defined by NI 43-101 guidelines responsible for the technical data presented herein.

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