HEALY PROJECT
Healy Project, Alaska, USA
The Company’s flagship Healy Project is comprised of 198 State of Alaska mining claims and 30 State Selected claims currently designated as Native Selected covering 14,550 hectares of land located approximately 180km southeast of Fairbanks or 70km east of Delta Junction, within the Goodpaster mining district (the “Healy Project”). TheGoodpaster mining district is host to the world-class Pogo gold mine currently operated by Northern Star Resources Limited (ASX:NST).
Scientific and technical disclosure for the Healy Project is supported by the technical report with an effective date ofDecember 15, 2018, entitled “Technical Report for the Healy Gold Project, Goodpaster Mining District, Alaska” andprepared by Curtis J. Freeman, BA, MS P.Geo, of Avalon Development Corp, qualified persons for the purposes of NI 43-101 (the “Healy Technical Report”). The Healy Technical Report was filed on SEDAR on July 30, 2019. It can be accessed at www.sedar.com under the Company’s profile.
The Healy Project is located within the Goodpaster Mining District, which is part of the prolific Tintina Gold Province; host of significant deposits such as Donlin Creek, Fort Knox, Pogo, Coffee, Sheelite Dome and Dublin Gulch. The property straddles a regional contact between metamorphic basement rocks and Cretaceous igneous rocks, a recognized regional control for gold mineralisation. The project lies within the major north-east trending structural corridor of the Black Mountain Tectonic Zone. The Black Mountain Tectonic Zone is believed to be similar to other major north-east trending structures such as the Shaw Creek, Mt. Harper, Ketchumstuck and Sixtymile fault systems, all of which are associated with major mineral occurrences. Gold-in-soil geochemical anomalies are coincident with
numerous north-east trending structures related to this major structural corridor.
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MANAGEMENT’S DISCUSSION AND ANALYSIS For the Three Months Ended March 31, 2021
The Healy Project area was first identified and staked by Newmont Corporation in 2012, following a two year regional stream sediment sampling program in eastern Alaska. Follow-up prospecting, mapping and systematic soil sampling defined numerous, kilometer-scale gold, arsenic and antimony in soil anomalies.
In 2021, the Company plans to carry out up to 4,000m of diamond drilling on the Healy Project. Drilling will be focused at the Thor, Bronk, and Spike target areas. By the time the 2021 drilling program is completed, the Company will complete the exploration requirement of US$2 million.