Wilding Lake Gold Project, Newfoundland, Canada

Project

Wilding Lake Gold Project, Newfoundland, Canada

Property

The Wilding Lake Project (“Project”) lies within central Newfoundland approximately 40 km south of Buchans and is accessed by a well-maintained gravel road and subsidiary forest access roads. The Project covers 215 Km2 (859 mineral claims) and is located immediately northea st of and adjacent to Marathon Gold Corporation’s Valentine Lake project with a reported Mineral Resource of 1,060,100 oz. gold at 2.20 g/t Measured & Indicated and 200,000 oz. gold at 2.85 g/t Inferred, as of April 2015. The land package covers more than 50 kilometres of strike length of the projected structural trend that is believed to control the regional gold mineralization such as at Valentine Lake. See Figure 1.

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 in late fall 2016 which resulted 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.

Geology

The 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. The rocks underlying the Wilding Lake project are equivalent to those underlying portions of the Valentine Lake Gold deposits, located 15-30 km to the west-southwest. See Figure 2.

New Discoveries: Alder, Taz, Elm, Cedar and Dogberry Gold Occurrences

The new discoveries above are high grade gold mineralization 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.

These new occurrences (See Figure 3), are located within an important regional gold bearing structural corridor immediately northeast of Marathon Gold Corporation’s Valentine Lake project, demonstrate a strong gold system producing bonanza grades and significant widths and are hosted by the Rogerson Lake conglomerate. A summary of each follows:

  • Alder-Taz Zone: Mineralization at the Alder Zone occurs as coarse, free gold in association with chalcopyrite, rare scheelite and gold-silver telluride, in association with tourmaline bearing quartz:
  • Alder Zone: Trenching has exposed the mineralized shear zone over a strike length of 100 meters with shear zone widths attaining up to 10.55 meters. Results include: 6.0g/t Au over 8.5m, 8.7g/t Au over 6.7m and 49.3g/t Au over 4.6m (see Figures 4 and 5).
  • Taz Zone: The Taz zone is located 125 meters along strike to the southwest of the Alder Zone. Ground and wet conditions during trenching work at Taz made exposing bedrock difficult and this area remains a high priority target for the 2017 field season. Results include: 28.8g/t Au over 1.0m, 12.2g/t Au over 0.9m and 14.6g/t Au over 0.65m (see Figure 6).
  • Elm-Cedar Zone: Located approximately 1.1 kilometers northeast of the Alder-Taz Zone and the high grade assays received indicate the robust gold tenor in this particular area:
  • Elm Zone: The main shear vein, which attains widths of up to 2.0 metres, yields gold values ranging from 2.5 to 101.5 g/t Au, averaging 20.6 g/t Au (based on the 22 channels that sampled the shear vein). Trenching has exposed the vein for approximately 60 metres and it remains open along strike in both directions. The style of mineralization is very similar to Alder, occurring as a northeast-striking and moderately to shallowly southeast-dipping quartz vein within sheared Rogerson Lake Conglomerate. Free coarse gold is common and occurs in association with chalcopyrite, minor chalcocite, and locally tourmaline. Results include 101.5g/t Au over 0.5m, 93.1g/t Au over 1.3m, 37.5g/t Au over 0.9m and 18.0g/t Au over 1.2m (see Figures 7 and 8).
  • Cedar Zone: The Cedar Zone is located approximately 100 meters to the northeast of the Elm Zone. Cedar is a single NE‐trending quartz‐tourmaline vein was exposed for ~60m along strike; up to 1m wide. Moderate to steep dip toward the southeast. See Figure 9.
  • Dogberry Zone: Located approximately 450m to the southeast of the Cedar Zone. Channel samples returned up to 46.5 g/t Au over 0.6m and grab samples up to 78.8 g/t Au (see Figure 10).

Howard Bird, P.Geo., Director 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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