High Grade Gold and VMS targets in Saskatchewan near Flin Flon area, nearby Hudbay 777 Mine
3 past producing gold mines with historical resources: Bootleg/Rio Mine, the Henning Maloney Mine and the Newcor Gold Mine
18 claim blocks covering 49.4 sq km. with core claims in good standing until 2040
1,500 metres of underground workings which can reopen
Grab samples results of up to 183 g/t Au at Rio Mine and 86 g/t at Henning Maloney (replace with drill results)
Searchlight Resources holds 100% ownership
Location
3,718 ha
37.18 km²
Land package
329%
Increase in property size
4
Past-producing gold mines on the property
13
Additional claim blocks staked
Bootleg Lake Claim Expansion
13 new claim blocks staked contiguous to the south and west of the original Bootleg Lake claims
July 2017 staking added 2,851 hectares, bringing the total property to 3,718 hectares (37.18 sq km) — a 329% increase in area
Original 4 contiguous claims totalling 867 hectares host four past producing gold mines: Bootleg/Rio Mine, Henning Maloney Mine, Newcor Gold Mine, and the Wekach Mine
Three deposits carry historical estimates calculated by Vista Mine Inc. (mid 1980s)
Additional gold and copper occurrences identified across the claims beyond the known deposits
Historical Resource Estimates
In order for these resources to be current, the Company will be required to conduct additional drilling on the Bootleg Property. The Company is not treating this estimate as current mineral resources or mineral reserves as defined in Nl 43-101. Although the historical resource estimate was designated as “reserves”, it cannot be compared to current mineral reserves as it is not supported b y at least a current pre-feasibility study.
| DEPOSIT | CATEGORY | TONS | TONNES | OZ/TON | GRAMS/TONNE |
|---|---|---|---|---|---|
| REPORTED | CALCULATED | REPORTED | CALCULATED | ||
| Bootleg (Rio) | Reserves | 183,871 | 166,800 | 0.35 | 12 |
| Henning Maloney | Proven | 15,000 | 13,600 | 0.45 | 15 |
| Possible | 43,000 | 39,000 | 0.16 to 0.32 | 5.5 to 11.0 | |
| Newcor | Proven | 42,500 | 38,600 | 0.31 | 10.6 |
| Possible | 156,000 | 141,500 | 0.31 | 10.6 |
1) All historical estimates above were prepared by Vista Mines Inc. in 1983 through 1987.
2) Note the historical estimate used the terms historical reserves, historical proven and possible reserves and historical proven and probable reserves were prepared before the introduction of National Instrument 43-101 Standards of Disclosure for Mineral Projects These historical estimates are considered relevant as the Company uses historical reports to evaluate historic mines as a guide to plan future exploration programs. The assumption, parameters and methods used to calculate these historical resource estimates are not known to the Company. The qualified person has not made any attempt to re-classify the estimates according to current Nl 43-101 standards and CIM definitions.
3) Data source – ASSESSMENT REPORT ON THE 2014 DIAMOND DRILLING PROGRAM, CREIGHTON PROPERTY DOUGLAS, BOOTLEG, PHANTOM AND WEKACH LAKE AREAS LARONGE MINING DISTRICT CREIGHTON, SASKATCHEWAN, by NEW MOON MINERALS CORPORATION by Anthony Spooner, P. Geo., Flin Flon, MB, August 31, 2016.
Bootleg Lake Project Portfolio
Developed in the 1980’s with mill and 1,500 m of underground workings. Vista shipped a 20,000-ton bulk sample that averaged 4.11 g/t gold, deemed uneconomic with low 1988 gold prices. Closed in 1990 prior to production due to low gold prices. Mill site reclaimed, with flooded underground workings still in place for reopening.
Gold prices are over $4000 these types of gold project are now very economically moving forward.
Drilling Program Completed
Flin Flon Mines Ltd. took over the project conducting a 46 hole diamond drill program totaling 11,352m which included results of 38.28 g/t gold over 4.2 metres in drill hole R12-80 and 14.11 g/t gold over 1.7 metres in drill hole R21-80.
A ramp decline was developed to a depth of 106.7 metres (350 ft) at the Rio (Bootleg) deposit. A 300 ton-per-day mill was acquired with plans to process ore from the Rio, Henning Maloney, and later the Newcor deposits.
Mine Startup and Closure
Operations began mid-1984 after delays due to technical issues. The mine closed just three months after startup due to lower-than-expected recovery rates and subsequently entered receivership. The property was then acquired by Vista Mines Inc.
Vista Exploration Program
Bulk Sample Testing
A 20,000-ton bulk sample was processed, returning an average grade of 4.11 g/t gold. Results were considered insufficient for viable production at the time.
Property Acquisition
The project remained dormant until its acquisition by New Moon Minerals Corp. in 2010.
RIO GOLD MINE
2018 Drilling
Drilling Highlights
5.24 g/t gold over 4.0 m, including 12.24 g/t gold over 0.5 m
2.09 g/t gold over 19.0 m, including 3.23 g/t gold over 8.0 m
| Drill Hole | Zones | From | To | Width | Au g/t |
|---|---|---|---|---|---|
| Number | metre | metre | metre | ||
| DDH BL-01 | 180 | 184 | 4 | 5.24 | |
| including | 181 | 184 | 3 | 6.55 | |
| including | 181 | 181.5 | 0.5 | 12.24 | |
| DDH BL-01 | 213 | 232 | 19 | 2.09 | |
| including | 216 | 224 | 8 | 3.23 | |
| including | 223 | 224 | 1 | 7.65 | |
| DDH BL-02 | 180 | 183 | 3 | 1.34 | |
| Including | 181 | 1820 | 1 | 2.04 | |
| DDH BL-02 | 208 | 210 | 2 | 1.54 | |
| Including | 208 | 209 | 1 | 2.24 | |
| DDH BL-02 | 222 | 227 | 5 | 2.45 | |
| including | 223 | 227 | 4 | 2.94 | |
| including | 223 | 225 | 2 | 3.84 | |
| DDH BL-02 | 291.9 | 295 | 3.1 | 1.08 | |
| Including | 294 | 295 | 1 | 1.75 | |
| DDH BL-03 | 197 | 200 | 3 | 0.77 | |
| Including | 199 | 200 | 1 | 1.44 |
The Rio Mine has 1,500 m of underground workings to 120 m depth.
Underground work is flooded and Searchlight is reviewing the Rio to dewater the mine.
Underground work is flooded and Searchlight is reviewing the Rio to dewater the mine.
UAV magnetic survey shows similar complex zone related to the Rio Fault.
| DDH | Intersection | From | To | Length | Grade |
|---|---|---|---|---|---|
| metre | metre | metre | g/t Au | ||
| HM-21-01 | 1-1 | 67.3 | 67.8 | 0.5 | 3.81 |
| HM-21-01 | 1-2 | 71.8 | 74.7 | 2.9 | 1.12 |
| including | 73.8 | 74.7 | 0.9 | 2.81 | |
| HM-21-01 | 1-3 | 90.95 | 91.9 | 0.95 | 4.15 |
| HM-21-01 | 1-4 | 141 | 145 | 4 | 1.33 |
| HM-21-02 | 2-1 | 82.25 | 92 | 9.75 | 1.16 |
| including | 83.25 | 84.1 | 0.85 | 7.91 | |
| HM-21-02 | 2-2 | 143.55 | 147 | 3.45 | 2.59 |
| including | 144.3 | 145 | 0.7 | 8.4 | |
| HM-21-02 | 2-3 | 184 | 186 | 2 | 0.51 |
| HM-21-03 | 3-1 | 137.25 | 141.3 | 4.05 | 0.51 |
| HM-21-03 | 3-2 | 160.25 | 161.25 | 1 | 2.81 |
| HM-21-03 | 3-3 | 164 | 165 | 1 | 0.96 |
| HM-21-03 | 3-4 | 194 | 195 | 1 | 31.59 |
The drilling map shows encountered in multiple gold zones.
The historical zone outlined, 200 ft along strike, 5.3 wide grading 0.50 oz/ton gold.
Henning Maloney 2021 Drilling
Confirm gold mineralization was successful and test mineralization beneath known mineralization in the underground workings also successful. The deepest gold intersection was 140 m vertically below surface, approximately 3 times the depth of the 1940s mine shaft.Cross section of the Rio drill holes from the 2018 drill program.
Drilling Highlights
7.91 g/t gold over 0.85 m in drill hole HM-21-02
8.4 g/t gold over 0.7 m in drill hole HM-21-02
8.4 g/t gold over 0.7 m in drill hole HM-21-02
Three drill holes and 11 gold intersections
Note: All widths reported are drill intersected core lengths and do not represent true widths
Newcor
The Newcor Deposit situated along the eastern shore of Douglas Lake was originally staked in 1933 with a program of trenching and drilling carried out during the next two years. In 1935 Flin Flon Gold Mines Ltd. commenced shaft sinking and underground development consisting of a 140m inclined, two-compartment shaft, with levels at 38m, 69m, 99m and 134m, as well as 1,070m of drifting and raising, and considerable underground drilling. In 1936 a 6-ton bulk sample was shipped to the Department of Mines in Ottawa. It assayed 21.43 g/t Au, 30.17 g/t Ag, 4.08% Zn, 0.44% Cu and 22.65% As.
In 1943, after several changes of ownership, Newcor Mining and Refining Ltd. purchased the property, rehabilitated the surface plant and dewatered the workings. A 200 ton-per-day mill and a 125 ton-per-day roasting plant were built between 1943 and 1947. The mine operated for part of 1947 and produced an unknown amount of gold. Surface exploration continued by several companies between 1940’s and 1980’s with various trenching, drilling and geophysics programs until acquired by Flin Flon Mines Ltd. in 1981. The most recent historical estimates reported for the Newcor deposit were prepared by Vista Mines Ltd. in 1983 which are shown in table above.
Compiled from Newspaper Reports
Wekach Gold Mines Ltd. was incorporated in 1934 to explore and develop gold showings. Exploration included an extensive trenching and sampling program, including a 6m exploratory shaft. Gold was associated with three or more quartz veins (aggregate width of 5m) within a wide shear zone in mafic volcanics, which was traced for 300m along strike in a westerly direction.
The best values reported were approximately 18 g/t Au per ton across 2m from a depth of 4.9m in the shaft, and 390 g/t Au per ton from an unspecified trench location.
Vista Mines reports encouraging gold results from an initial four-hole (1,100 ft) drill program on its Wekach Lake property in northern Saskatchewan. The drilling tested one of several recently outlined EM conductors. The four holes all intersected a strong, 30 to 130 ft wide shear zone within a dioritic intrusive over the drilled length of approximately 600 feet. The associated coincident geophysical anomaly is a minimum of 1100 feet long and is open on both ends.
Significant gold mineralization was encountered in two of the holes, spaced approximately 425 feet apart.
The intersections confirm the hosting structural zone is an important target of significant proportions. The zone has been previously tested with only one hole. The latter, drilled in 1970, reportedly returned 0.23 oz. Au/ton across a 2.0-foot wide (true width) quartz vein