WILSON PROJECT JV

Hosts the Toussaint deposit with significant upside of untested depth and lateral extensions. Numerous satellite gold-bearing showings makeup a 800-m wide corridor striking across the project area.

• HIGHLIGHTS
• DOCUMENTS
• PHOTOS

• UPDATE : MAY 17th, 2021

PROJECT

Wilson

STATUS

Exploration drilling to explore the depth and lateral extention of the Toussaint deposit and to investigate the potential of the immediate vicinity for new gold mineralization.

COMMODITIES

Gold (Au)

LOCATION

15 km east of Lebel-sur-Quévillon, Québec (Figure 1)

Canton : Verneuil

NTS map sheet : 32F02

Latitude : 49° 02′ 24″ N

Longitude : 76° 46′ 18″ W

MINING TITLES

The property consists of 42 contiguous claims (Figure 2) covering a surface area of 1,660 hectares.

PROPERTY RIGHTS

Cartier Resources Inc. holds a 100% interest in the property. On April 26th, 2021 – Cartier announced the execution of an option agreement with Hawkmoon Resources Corp. (“Hawkmoon”) to option 100% of its interests in its Wilson property.

During the five-year option period, Hawkmoon shall have the sole and exclusive right and option to earn a 100% interest (the “Option”) by paying Cartier an amount aggregating $1,000,000 in cash, issuing in favour of Cartier of an aggregate of 5,000,000 common shares of Hawkmoon, incurring not less than $6,000,000 in expenditures and performing a minimum of 24,000 metres of diamond drilling on the Wilson property. Upon execution of the Agreement, Cartier has received an amount of $200,000 in cash and 700,000 common shares of Hawkmoon. All shares issued to Cartier under the Agreement will be subject to a statutory four (4) month hold period.

Upon the exercise of the Option, Cartier will be granted a 2% NSR production royalty on the Wilson property, half of which (1% NSR) shall be redeemable for $4,000,000

ROYALTIES

Viking Gold retain the following Net Smelter Return royalties (NSR) : i) a 0.50% NSR royalty on the Verneuil West Property, half of which (0.25% NSR) can be bought back for $250,000 and ii) a 0.35 % NSR royalty on the Verneuil Central Property, half of which (0.175% NSR) can be bought back for $175,000.

Golden Tag will retains a 0.15 % NSR royalty on the Verneuil Central Property, half of which (0.075% NSR) can be bought for $75,000.

KEY POINTS

• • The Toussaint Gold Deposit was discoved in 1992 during prospecting and stripping programs (Pictures 1 and 2);
  • To date, 60 holes have been drilled on the Toussaint deposit for a total of 9,631 m (Figure 13);
  • In 1994, Freewest Resources produced a historical resources estimate for the Toussaint deposit (GM 52557) of 187,706 tonnes at 7,1 g/t Au. Note : The qualified person has not done sufficient work to classify the resources that are the subject of this historical resources estimate. Cartier does not consider the resources presented in this historical resources estimate to be current. Cartier’s qualified person, within the meaning of NI43-101, is te Company’s Vice-president, Mr. Gaétan Lavallière, P. Geo., Ph. D.
  • The Toussaint deposit has been drilled to a depth of 250 m (Figures 6 and 7) and can be traced along strike for more than 900 m (Figure 4). The average thickness of the gold zone is 5 m (Figure 5).
  • The best results from the Toussaint deposit are presented in Figure 11.
  • The mineralization of the Toussaint deposit consits of disseminated pyrite ranging in concentration from 1 to 5%, locally up to 20% (Pictures 3, 4, 6 and 10). Pyrite is associated with coarse gold, sometimes visible to the naked eye (Pictures 5, 7, 8, and 9). Quartz breccia have been observed locally (Pictures 11, 12,13 and 14). Mineralization occurs within a zone of sheared rocks (Pictures 2, 10 and 14) at the contact between a grabbroic dyke and dacitic lavas (Figure 10). Within the mineralized shear zone, alteration is mainly sericite, carbonates and silica.
  • Seven other district gold zones are present on the Wilson Property (Figure 3):
  • Midrim : Best results : 64.6 g/t Au over 0.4 m in drill core; 5.2 g/t Au over 4.6 m in drill core and 6.3 g/t au over 2.0 m in drill hole;
  • T & M : Best results : : 2.6 g/t Au over 0.5 m in drill core; 8.0 g/t Au over 0.8 m in a channel and 297.9 g/t Au in a grab;
  • Benoist : Best results : 1.0 g/t au over 3.5 m in drill core; 2.3 g/t Au over 2.0 m in a channel and 31.3 g/t Au in a grab;
  • Moneta Porcupine North : Best results : 3.9 g/t Au over 2.0 m in a channel and 14.3 g/t Au in a grab;
  • Moneta Porcupine South : Best results : 0.6 g/t Au and 36.8 g/t Ag over 3.8 m in drill core; 1.8 g/t Au and 114.0 g/t Ag over 1.0 m in a channel and 94.8 g/t Au in a grab;
  • Parnor East : Best results : 3.4 g/t Au over 0.3 m in drill core and 1.4 g/t Au over 0.5 m in drill core;
  • Parnor : Best results : 1.9 g/t Au aver 1.5 m in drill core;
  • The Toussaint Deposit and all other gold showings are characterized by chargeability anomalies generated by IP surveys (Figure 8);
  • To date, 107 drill holes have been drilled on the Wilson Property for a total of 16,007 m, including 60 holes on the Toussaint deposit for a total of 9,631 m (60%).