Summary
NEWTON GOLD PROJECT
LOCATION:
Approximately 100 km west of the city of Williams Lake in central British Columbia. Characterized by plateau lands with gently rolling hills and other characteristics favourable to project development.
INFRASTRUCTURE:
The district is well served by existing transportation, power, infrastructure and a skilled workforce which supports numerous operating mines as well as late-stage mineral development and exploration projects. Conditions are excellent for year-round exploration and development activities.
RESOURCE:
June 2022 NI 43-101 resource containing 861,400 oz Au with an average grade of 0.63 g/t and 4,678,000 oz Ag with an average grade of 3.43 g/t.
MINES CLOSE BY:
Artemis’ Blackwater Project (permitted and in development) is the closest analogue and just 180 km northwest; Taseko Mines’ Prosperity Deposit; Huckleberry and Equity Silver.
Stage
Resource Expansion
Ownership
100% ownership by Carlyle.
METALS
Gold & Silver
Size
100% controlled tenure package totalling approximately 24,000 hectares.
Mineralization
Gold-Silver mineralization associated with pyrite-marcasite ± chalcopyrite ± sphalerite ± galena ± arsenopyrite.
Location
PRECIOUS METALS
DEVELOPMENT DISTRICT
The Newton property is located approximately 100 km west of the city of Williams Lake in central BC within a region characterized by plateau lands with gently rolling hills and other characteristics favourable to project development. The district is well served by existing transportation, power, infrastructure and a skilled workforce which support numerous operating mines as well as late-stage mineral development and exploration projects. Conditions are excellent for year-round exploration and development activities.
- ~180 km south of Artemis’ Blackwater Project (11.9M oz Au and 128M oz Ag)
- Blackwater was acquired from Newgold for $120M IN 2020
- Blackwater is permitted and in development to produce in 2024
- 50 km northeast of Taseko Mines Prosperity Deposit
(13.3M oz of Au & 5.3B lbs Cu)
Location
PRECIOUS METALS
DEVELOPMENT DISTRICT
The Newton property is located approximately 100 km west of the city of Williams Lake in central BC within a region characterized by plateau lands with gently rolling hills and other characteristics favourable to project development. The district is well served by existing transportation, power, infrastructure and a skilled workforce which support numerous operating mines as well as late-stage mineral development and exploration projects. Conditions are excellent for year-round exploration and development activities.
- ~180 km south of Artemis’ Blackwater Project (11.9M oz Au and 128M oz Ag)
- Blackwater was acquired from Newgold for $120M IN 2020
- Blackwater is permitted and in development to produce in 2024
- 50 km northeast of Taseko Mines Prosperity Deposit
(13.3M oz of Au & 5.3B lbs Cu)
PROJECT OVERVIEW
UNRIVALLED PRECIOUS METALS PROJECT UPSIDE
34,000+ m & 128 total drill holes
Drilled by previous owner, Amarc Resources Ltd. Explored and developed the resource during 2009-2012
24,000+ Ha
Newton Gold Project encompasses more than 24,000 Ha, the deposit contains 861,400 oz Au & 4,678,000 oz Ag (Table 1-1)
Resource occupies 0.5 sq/km (7%)
The IP anomaly measures 4 km x 2 km, covers an area greater than 7 sq/km – yet the current resource occupies slightly over 0.5 sq/km or just 7% of the anomaly
| Resource in Optimized Pit (inferred) | Grade | Metal Content | ||||
|---|---|---|---|---|---|---|
| Cut Off Au |
Mass t |
Au (g/t) |
Ag (g/t) |
AuEQ³ (g/t) |
Au (t.oz) |
Ag (t.oz) |
| 0.25 | 42,396,600 | 0.63 | 3.43 | 0.68 | 861,400 | 4,678,000 |
Notes
1. CIM Definition Standards for Mineral Resources and Mineral Reserves (May 2014) and CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (November 2019) were used for mineral resource estimation.
2. Recovery factors used are 92% for Au and 45% for Ag.
3. metal prices used are US$1900/oz for Gold and US$25/oz for Silver
4. O’Brien, M.F., (2022) Technical Report on the Updated Mineral Resource Estimate for the Newton Project, central British Columbia
Alteration Types
The alteration types and metal associations at Newton are nearly identical to those epithermal gold deposits in British Columbia – including the large Blackwater, Prosperity, Brucejack and Snowfields deposits
Epithermal Gold
The Newton Gold Project is a large, low - to intermediate-sulphidation, epithermal gold deposit that formed at about 72 Ma (Re-Os date by McClenaghan, 2012), contemporaneous with felsic volcanic and intrusive rocks emplaced into a rifted, structurally-active graben
Gold Mineralization
Gold mineralization is predominately hosted by Late Cretaceous felsic volcanic and intrusive rocks but also occurs in mafic volcanic and clastic sedimentary rocks and along fault and fracture zones
Strong quartz-sericite
Gold and associated base metal mineralization precipitated in extensive zones of strong quartz-sericite alteration
CROSS SECTION OF THE NEWTON DEPOSIT
CONSISTENT MINERALIZATION FROM TOP TO BOTTOM
RESOURCE UPSIDE OF EXISTING DEPOSIT
Northern portion of resource has multiple gold grades in excess of 1 gpt
Hole spacing prevents intersections from being incorporated into current resource
Room to expand outside of current resource pit shell
High grade intervals marked as waste in resource
Multiple high-grade intersections exist outside of the current resource
Strong continuity of high grade within main zone
Felsic volcanic host rock was encountered nearly the entire 1,001 meters to depth which historically hosted all the gold and silver credits
1- Phase 1 drilling tested unchartered open at depth 500+ meters below the current deposit with a 1,001 meter drill hole
Open in almost every direction and at depth
RESOURCE UPSIDE OF EXISTING DEPOSIT
Northern portion of resource has multiple gold grades in excess of 1 gpt
Hole spacing prevents intersections from being incorporated into current resource
Room to expand outside of current resource pit shell
High grade intervals marked as waste in resource
Multiple high-grade intersections exist outside of the current resource
Strong continuity of high grade within main zone
Felsic volcanic host rock was encountered nearly the entire 1,001 meters to depth which historically hosted all the gold and silver credits
1- Phase 1 drilling tested unchartered open at depth 500+ meters below the current deposit with a 1,001 meter drill hole
Open in almost every direction and at depth
| Drill Hole ID | From (m) | To (m) | Int. (m) | Au (g/t) | Ag (g/t) |
|---|---|---|---|---|---|
| 9001 | 228.0 | 297.0 | 69.0 | 1.41 | 10.9 |
| 9003 | 3.0 | 224.5 | 221.5 | 0.60 | 5.6 |
| 9004 | 6.0 | 195.0 | 189.0 | 1.56 | 7.9 |
| 9014 | 72.0 | 210.0 | 138.0 | 0.74 | 4.2 |
| 11040 | 15.4 | 171.0 | 155.6 | 0.58 | 2.9 |
| 11045 | 79.0 | 157.0 | 78.0 | 1.71 | 5.1 |
| 11049 | 23.5 | 144.0 | 120.5 | 0.86 | 2.2 |
| 11052 | 48.0 | 456.0 | 408.0 | 0.60 | 2.6 |
| 11054 | 43.0 | 442.0 | 399.0 | 0.50 | 2.4 |
| 12060 | 11.6 | 333.0 | 321.3 | 0.55 | 3.0 |
Select Drill Intercepts
FOOTBALL FIELDS OF CONTIGUOUS PRECIOUS METALS ZONES
Main Zone – Vein Stockworks
- Typically, around 2 gpt Au
- Up to 8 gpt Au
- Ag can reach up to 200 gpt
- Pb, Zn, Mo are present as well
- The IP anomaly measures 4 km x 2 km and covers an area greater than 7 sq/km
- Yet, the current resource occupies slightly over 0.5 sq/km or just 7% of the anomaly
Main Zone – Vein Stockworks
- Typically, around 2 gpt Au
- Up to 8 gpt Au
- Ag can reach up to 200 gpt
- Pb, Zn, Mo are present as well
- The IP anomaly measures 4 km x 2 km and covers an area greater than 7 sq/km
- Yet, the current resource occupies slightly over 0.5 sq/km or just 7% of the anomaly
NEWTON 2023 EXPLORATION GOALS & STRATEGIES
INCREASE DRILL DENSITY IN TARGETED AREAS LEADING TO INCREASES MINERAL RESOURCE
Drilling areas of high probability to host mineralization along periphery or existing drilling, near surface to deep drilling
Drilling specific gaps, coordinates, zones recommended by RPA for where the model is forced to decrease grade due to inadequate drill spacing. Note only in known mineralized areas (low hanging fruit/infill drilling)
Drilling specific gaps, coordinates, zones recommended by RPA for where the model is forced to decrease grade due to inadequate drill spacing. Note only in known mineralized areas (low hanging fruit/infill drilling)
EVALUATE THE FOOTPRINT OF THE MINERALIZATION
Explore near surface felsic volcanics with anomalous geochemical signatures coupled with moderate resistivity and chargeability
Exploration of deeper open mineralized felsic volcanics (ie. below 9004 and 9005)
Assess structural connection between two blocks separated by Newton Hill Fault
Understand the trending direction and morphology of the system
Exploration of deeper open mineralized felsic volcanics (ie. below 9004 and 9005)
Assess structural connection between two blocks separated by Newton Hill Fault
Understand the trending direction and morphology of the system
EVALUATE TARGETS DEFINED FROM SCIENTIFIC ANALYSIS
Evaluate additional domains of exploration potential in mafic volcanics, expanding discovery beyond felsic volcanic
Find further evidence of untested mineralization, geochemical and geophysics anomalies
Find further evidence of untested mineralization, geochemical and geophysics anomalies
