COPPER LAKE PROJECT
NOVA SCOTIA MINOTAUR COPPER LAKE
Copper Lake Project
INTRODUCTION & STRATEGIC POSITIONING
Copper–Gold–Silver deposits in the Cobequid Highlands of central Nova Scotia, Canada
The Cobequid-Chedabucto Fault zone is a large crustal-scale fault system within the Cobequid Highlands which was recognized by Minotaur Exploration Ltd. of Australia in 2007 as a potential zone to host IOCG-type deposits
The Copper Lake project is comprised of a property package incorporating 215 license claims and covers approximately 34 sq. kms. The Property is located 26 km south of the town of Antigonish, Nova Scotia.
STRATEGICALLY POSITIONED
Cobequid-Chedabucto Fault Zone (CCFZ)
Exposed for approximately 300 km across the Province of Nova Scotia the CCFZ is characterized by a series of east-west striking, anastomosing and en-echelon faults that exhibit predominantly dextral strike-slip displacement through brittle and ductile deformation. Carboniferous hydrothermal mineralization and alteration, regional deformation and bimodal magmatism have been documented along the CCFZ including hydrothermal albite, biotite and iron-oxide mineralization.
Copper Lake Project
EXPLORATION HISTORY & INTRODUCTION
- Mining commenced in 1876 with two shallow shafts being sunk into the vein
- The main shaft was deepened to 41m in 1908, and cross-cuts along the vein were developed – the final recorded depth of the main shaft was 70m
- Operations ceased by 1910 due to a combination of dewatering issues, increased structural complexity, and decreasing grades along strike and at-depth
- Approximately 1200 tons were produced – 357 tons of material was shipped with an estimated grade of 5.5% Cu
- In 1937 and 1951, the underground workings were de-watered and rehabilitated for sampling
- Historic drilling is limited and relatively shallow, the proven zonation of grade and thickness indicate a potential for additional high-grade, high-tonnage zones
Copper Lake Project
EXPLORATION HISTORY & INTRODUCTION
Ongoing since the late 1800s, with numerous small-scale geophysical surveys (i.e., magnetics, self-potential, (IP), geochemical surveys, and drill programs being conducted, primarily focused on and proximal to the historic workings.
Proprietary modelling identified five high-priority conductivity anomalies that warranted further investigation.
Minotaur Exploration Limited (Australia) identified the crustal-scale, Cobequid – Chedabucto fault system and associated Fe-Oxide deposits as part of an IOCG Style System.
An extensive regional gravity survey identified Copper Lake as a priority target for detailed follow-up. Geotech Ltd. conducted an airborne VTEM and magnetic survey over the entire Copper Lake property.
Copper Lake Project
EXPLORATION PROGRAM
- Cu-Fe-Au-Co-Ni mineralization, iron oxides and carbonate alteration suggest an IOCG affinity.
- The property is proximal to the major CCFZ terrane break (fault) and locally, a 4 -5km structural corridor on the property with elevated Cu geochemistry associated with subordinate structures.
- Several fissure veins of siderite (up to 3m thick) with Chalcopyrite, Pyrite and Gold are associated with a splay fault in the area that hosts the historic Copper Lake workings.
- Recent compilation and fieldwork have identified 3 priority targets in the western portion of the claim group for further exploration, the targets associated with major faulting, splay faults, significant Cu values and untested, related geophysical anomalies.
- Additional untested geophysical targets were identified in the east peripheral to a magnetic high.
- Data Integration and Analysis to be conducted by EarthEx Geophysical Solutions Inc. will produce a 3D project model with prioritized target zones.
- The final product will characterize specific targets within the larger trends and will include recommendations for additional ground geophysics if required before drilling.
Excavation Trenching underway at the historic shaft, Copper Lake mine site
Chalcopyrite and Bornite, primary copper bearing minerals.
Copper Lake Project
2023/ 2024 EXPLORATION PROGRAM BUDGET ALLOCATION
- EarthEX processes all Geophysical data utilizing Artificial Intelligence (AI) and proprietary technology, providing 3D modelling & Target Interpretation / Prioritization.
- 3D Modeling of the Copper Lake mine vein.
- Delineation of structural and grade trends to generate new drill targets along strike and down dip of the known Copper Lake occurrence.
- Surface trenching adjacent to and peripheral to the historic workings.
- Surface trenching and sampling over Targets generated by EarthEx.
- Ground Pulse EM over Priority Targets before Drill Hole Selection.
- 3000m Drill Program testing down dip and strike projections of the historic workings and off-deposit, high-priority.
BV LABS ASSAYS AND PROJECT MINERALIZATION (COPPER, GOLD, SILVER)
JAN 2021 BV LAB ESSAY NOTES
▪Multi-element system confirmed
▪In addition to the above, select samples also included up to 1% Pb and 1.5% Zn in addition to elevated levels of As & Sb
▪The “Copper Lake vein” is the principal mineralized body on the property
▪The vein strikes 70º, dips 65º north flattens with depth and has been projected to extend to the northwest and southeast; however, displacement by post-mineralization cross-faults is possible
▪Dominant ore minerals include chalcopyrite and bornite. Smaller mineralized veins are documented throughout the district, observed in both float and outcrop
▪In addition to Cu, significant Au and Ag assay results are reported for localized intervals and confirmed by previous exploration sampling
▪Anomalous Cu values in rocks and soils outside of the historic mine area, coupled with the identification of mineralized property scale structures, indicate an extensive mineralizing system may be present
2021 COPPER LAKE PROJECT – BV LABS ASSAYS
2019 COPPER LAKE PROJECT – BV LABS ASSAYS
Copper Lake Project
ACHIEVEMENTS TO DATE
Copper exploration has been successful in defining 3 priority targets with an IOCG affinity along a 4 – 5 km corridor extending from the SW corner of the Minotaur Claims to the NE, through the Copper Lake mine site and terminating near Loch Katrine.
Copper assays at the historic site generally range from 1- 5% with local, high-grade exceptions accompanied by gold (0.1 to 20.2 g/t) with the target open at depth and along strike. Silver and zinc are also anomalous, the latter peripheral to the main copper signature and related to a black argillite.
Historic pits have been located within the Cu soil anomaly. These are NOT related to the historic workings and require further investigation. Structural controls are apparent with mineralization and geophysical targets (VTEM) occurring along or proximal to splays directly related to the main northeast-trending fault in the western portion of the claim group.
Corridor is flanked to the NW and SE by gravity highs and defined by a distinct topographic break that is further accentuated by the ground magnetics. Within the corridor, a well-defined copper target is adjacent to the historic workings and overlies a defined gravity high.
COPPER LAKE PROJECT
PRIORITY TARGETS EAST OF LOCH KATRINE
VTEM targets along the main fault, southwest of the historic mine site outline a broad, north dipping moderately conductive body at a depth of between 80 and 135m. The target lies to the south of a curvilinear moderate magnetic feature and broad, linear, northeast striking positive gravity anomaly.
Untested, high-priority VTEM targets peripheral to and on strike with a large magnetic feature (slide 21). The length of this anomaly is over 800 m in length, the response caused by a “moderately deep conductive body, dipping to the southwest at a depth of between 34m and 61m”.
Upgraded projection of historic drill holes revealed a gap in drilling coverage directly along strike with Copper Lake Fault, host to the historical workings. This is directly adjacent to and within 200 m of the historic shaft. Target also open at depth.
Untested, very high-priority VTEM targets lying on the northern edge of a large positive gravity response. The shape of the decay profiles suggests a “shallow, thick, south-dipping bedrock conductor that is highly prospective for massive sulphide mineralization”.
Several Outcrop samples with high Cu values (0.15% - 0.34%) downstream float (4.5% Cu) related to structural splays along the main 4 – 5km prospective corridor and associated with VTEm targets.
COPPER LAKE TARGETS
TARGET 1&2
TARGET 3
TARGETS 4 & 5
OTHER PROPERTIES
MCLENNAN LAKE GOLD PROJECT
COPPER LAKE PROJECT
NOVA SCOTIA MINOTAUR COPPER LAKE
Copper Lake Project
INTRODUCTION & STRATEGIC POSITIONING
Copper–Gold–Silver deposits in the Cobequid Highlands of central Nova Scotia, Canada
The Cobequid-Chedabucto Fault zone is a large crustal-scale fault system within the Cobequid Highlands which was recognized by Minotaur Exploration Ltd. of Australia in 2007 as a potential zone to host IOCG-type deposits
The Copper Lake project is comprised of a property package incorporating 215 license claims and covers approximately 34 sq. kms. The Property is located 26 km south of the town of Antigonish, Nova Scotia.
STRATEGICALLY POSITIONED
Cobequid-Chedabucto Fault Zone (CCFZ)
Exposed for approximately 300 km across the Province of Nova Scotia the CCFZ is characterized by a series of east-west striking, anastomosing and en-echelon faults that exhibit predominantly dextral strike-slip displacement through brittle and ductile deformation. Carboniferous hydrothermal mineralization and alteration, regional deformation and bimodal magmatism have been documented along the CCFZ including hydrothermal albite, biotite and iron-oxide mineralization.
Copper Lake Project
EXPLORATION HISTORY & INTRODUCTION
- Mining commenced in 1876 with two shallow shafts being sunk into the vein
- The main shaft was deepened to 41m in 1908, and cross-cuts along the vein were developed – the final recorded depth of the main shaft was 70m
- Operations ceased by 1910 due to a combination of dewatering issues, increased structural complexity, and decreasing grades along strike and at-depth
- Approximately 1200 tons were produced – 357 tons of material was shipped with an estimated grade of 5.5% Cu
- In 1937 and 1951, the underground workings were de-watered and rehabilitated for sampling
- Historic drilling is limited and relatively shallow, the proven zonation of grade and thickness indicate a potential for additional high-grade, high-tonnage zones
Copper Lake Project
EXPLORATION HISTORY & INTRODUCTION
Ongoing since the late 1800s, with numerous small-scale geophysical surveys (i.e., magnetics, self-potential, (IP), geochemical surveys, and drill programs being conducted, primarily focused on and proximal to the historic workings.
Proprietary modelling identified five high-priority conductivity anomalies that warranted further investigation.
Minotaur Exploration Limited (Australia) identified the crustal-scale, Cobequid – Chedabucto fault system and associated Fe-Oxide deposits as part of an IOCG Style System.
An extensive regional gravity survey identified Copper Lake as a priority target for detailed follow-up. Geotech Ltd. conducted an airborne VTEM and magnetic survey over the entire Copper Lake property.
Copper Lake Project
EXPLORATION PROGRAM
- Cu-Fe-Au-Co-Ni mineralization, iron oxides and carbonate alteration suggest an IOCG affinity.
- The property is proximal to the major CCFZ terrane break (fault) and locally, a 4 -5km structural corridor on the property with elevated Cu geochemistry associated with subordinate structures.
- Several fissure veins of siderite (up to 3m thick) with Chalcopyrite, Pyrite and Gold are associated with a splay fault in the area that hosts the historic Copper Lake workings.
- Recent compilation and fieldwork have identified 3 priority targets in the western portion of the claim group for further exploration, the targets associated with major faulting, splay faults, significant Cu values and untested, related geophysical anomalies.
- Additional untested geophysical targets were identified in the east peripheral to a magnetic high.
- Data Integration and Analysis to be conducted by EarthEx Geophysical Solutions Inc. will produce a 3D project model with prioritized target zones.
- The final product will characterize specific targets within the larger trends and will include recommendations for additional ground geophysics if required before drilling.
Excavation Trenching underway at the historic shaft, Copper Lake mine site
Chalcopyrite and Bornite, primary copper bearing minerals.
Copper Lake Project
2023/ 2024 EXPLORATION PROGRAM BUDGET ALLOCATION
- EarthEX processes all Geophysical data utilizing Artificial Intelligence (AI) and proprietary technology, providing 3D modelling & Target Interpretation / Prioritization.
- 3D Modeling of the Copper Lake mine vein.
- Delineation of structural and grade trends to generate new drill targets along strike and down dip of the known Copper Lake occurrence.
- Surface trenching adjacent to and peripheral to the historic workings.
- Surface trenching and sampling over Targets generated by EarthEx.
- Ground Pulse EM over Priority Targets before Drill Hole Selection.
- 3000m Drill Program testing down dip and strike projections of the historic workings and off-deposit, high-priority.
Copper Lake Project
BV LABS ASSAYS AND PROJECT MINERALIZATION (COPPER, GOLD, SILVER)
JAN 2021 BV LAB ESSAY NOTES
▪Multi-element system confirmed
▪In addition to the above, select samples also included up to 1% Pb and 1.5% Zn in addition to elevated levels of As & Sb
▪The “Copper Lake vein” is the principal mineralized body on the property
▪The vein strikes 70º, dips 65º north flattens with depth and has been projected to extend to the northwest and southeast; however, displacement by post-mineralization cross-faults is possible
▪Dominant ore minerals include chalcopyrite and bornite. Smaller mineralized veins are documented throughout the district, observed in both float and outcrop
▪In addition to Cu, significant Au and Ag assay results are reported for localized intervals and confirmed by previous exploration sampling
▪Anomalous Cu values in rocks and soils outside of the historic mine area, coupled with the identification of mineralized property scale structures, indicate an extensive mineralizing system may be present
2021 COPPER LAKE PROJECT – BV LABS ASSAYS
2019 COPPER LAKE PROJECT – BV LABS ASSAYS
Copper Lake Project
ACHIEVEMENTS TO DATE
Copper exploration has been successful in defining 3 priority targets with an IOCG affinity along a 4 – 5 km corridor extending from the SW corner of the Minotaur Claims to the NE, through the Copper Lake mine site and terminating near Loch Katrine.
Copper assays at the historic site generally range from 1- 5% with local, high-grade exceptions accompanied by gold (0.1 to 20.2 g/t) with the target open at depth and along strike. Silver and zinc are also anomalous, the latter peripheral to the main copper signature and related to a black argillite.
Historic pits have been located within the Cu soil anomaly. These are NOT related to the historic workings and require further investigation. Structural controls are apparent with mineralization and geophysical targets (VTEM) occurring along or proximal to splays directly related to the main northeast-trending fault in the western portion of the claim group.
Corridor is flanked to the NW and SE by gravity highs and defined by a distinct topographic break that is further accentuated by the ground magnetics. Within the corridor, a well-defined copper target is adjacent to the historic workings and overlies a defined gravity high.
COPPER LAKE TARGETS
TARGET 1&2
TARGET 3
TARGETS 4 & 5