Centrefire Project

Centrefire Project

The ~2,500-hectare Centrefire Cu-Au Project is located in the Wabigoon Greenstone Belt in Northwestern Ontario, ~40 kilometers northeast of Dryden and ~35 kilometers southwest of Sioux Lookout. It has been minimally explored in the past with 10 short (<100m vertical depth) drill holes, 5 surface trenches, continuous chip sampling over multi-meter intervals and geophysics, both surface and airborne including magnetics and EM surveys. Phelps Dodge explored the area between 1968 and 1970 and discovered several stacked intervals of copper, gold, and nickel mineralization within the majority of drill holes. A Geotech airborne VTEM and magnetic survey completed in 2010 indicates 2 parallel conductors over the extent of the Project area and structural “mag-breaks” that are coincident with the known copper-gold mineralization. The project sits within a geologically favourable setting with historic surface grab sampling along the strike length of the coincident mag-high trends and VTEM conductors has returned values up to 1.9% Cu and 23.9 g/t Au¹.

Besides the noteworthy historic assays and copper-dominant “Critical Metals” status, the Project is highly prospective for several deposit types including VMS, Iron-Formation-hosted, and Orogenic and also boasts an all-season ease of access, very timely turn-around-time of drilling permits when compared to other jurisdictions, and the ability to utilize the Ontario Junior Exploration Program incentives – OJEP – which can provide a grant of up to $200,000 per session. The number of known copper, gold, and base metal deposits in this area and geologic package is remarkable and very encouraging that Centrefire has the potential for a significant discovery of similar nature.

¹ The historic results referenced herein have been reviewed by the company’s QP and are considered valid.