Hayes Property - Isaac Target

Overview

The Isaac target was first recognized by the Company as a prospective porphyry target in 2021 through soil sampling. Gridded soil sampling (50 m spaced samples on 100 m spaced survey lines) was conducted in an area located approximately 5 km south of the Yukon River where a 2017 reconnaissance soil survey identified several isolated anomalous ridge and spur soil samples. The 2021 sampling identified a new geochemically zoned multi-element soil anomaly named the Isaac target, which measures approximately 2 km east-west by 1.5 km north-south. The anomaly has a central core measuring from 750 m to 1,000 m in diameter and enriched in bismuth and arsenic, which is surrounded by a halo of anomalous silver, lead and zinc that is greater than 400 m wide. Anomalous copper occurs in the southern portion of the core, and a relatively small area of anomalous molybdenum occurs near the core’s northern margin.

Geologically the soil anomaly is associated with a plug of Late Cretaceous Prospector Mountain suite, which is known to be prospective for porphyry copper-gold-molybdenum and epithermal style mineralization. The geochemical zonation and elemental distributions indicate that the anomaly may represent the surface expression of a copper-molybdenum porphyry core surrounded by distal or epithermal style silver-lead-zinc mineralization. Follow-up geological mapping and prospecting in 2022 returned anomalous copper values from the core area of the soil anomaly, with three grab samples returning from 730.6 – 1269.2 ppm Copper.

In 2023 a ground geophysical survey consisting of two deep IP test lines totaling 4.2 km was carried out over the Isaac target. The lines were oriented perpendicular to each other at NE-SW (line 4N) and NW-SE (line 1E) using a dipole-pole-dipole configuration. Eight chargeability anomalies were identified on Lines 1E and 4N. Five anomalies occur on Line 1E, including three 1st priority anomalies (S1-S3), one 2nd priority anomaly (M1) and one 3rd priority anomaly (W1). The 1st priority anomalies are characterized by moderate chargeability and low to high resistivity. Target depths of the 1st priority anomalies range from 70 m (S3) to 250 m (S2). An additional three anomalies occur on Line 4N, including one 1st priority anomaly (S1) and two 2nd priority anomalies (M1-M2). Target depths of these chargeability anomalies range from 220 – 550 m.

A plot of the chargeability anomalies on Line 1E in relation to soil geochemistry results for select elements (bismuth, copper, lead, silver) shows a strong correlation. The bismuth anomaly appears to be controlled by faults interpreted from the IP resistivity data. The bismuth and copper core of the soil anomaly is underlain by multiple chargeability anomalies (S1, S2, M1 and W1) which sit above a resistivity low which is interpreted as a fault structure. Lead, zinc, and silver, which form a halo around the core, are coincident with fault structures on the south side and north side of the survey area which trend NE (065°) and NW (290°) respectively. Isaac is a recently recognized (2021) target and has never been drilled tested.

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