Western Atlas Resources · TMAC Resources Hope Bay project ** 3.59 4.81 1.62 Sabina Gold and Silver...
Transcript of Western Atlas Resources · TMAC Resources Hope Bay project ** 3.59 4.81 1.62 Sabina Gold and Silver...
Western Atlas Resources
(TSX-V: WA)Focused on the acquisition and development of scalable precious metals projects in
premier mining jurisdictions
Corporate PresentationAugust 2019
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Disclaimer Western Atlas Resources
This presentation contains “forward-looking statements” and “forward looking information” (as defined under applicable securitieslaws), including but not limited to, statements with respect to the Company’s current and future projects, plans and operatingperformance, including in respect of the growth potential of the Western Atlas’ Projects, the success of exploration activities, futurecapital expenditures, future financing sources. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “expects”, “expected”, “budgeted”, “forecasts” and “anticipates”. Forward-looking statements andinformation, while based on management’s best estimates and assumptions, are subject to risks and uncertainties that may causeactual results to be materially different from those expressed or implied by such forward-looking statements, including but notlimited to: risks related to the completion of any acquisitions, risks related to the successful integration of any acquisitions; risksrelated to international operations; risks related to general economic conditions and credit availability, actual results of currentexploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined;fluctuations in prices of metals including gold; fluctuations in foreign currency exchange rates, increases in market prices of miningconsumables, accidents and labour disputes, title disputes, claims and limitations on insurance coverage and other risks of themining industry; changes in national and local government regulation of mining operations, tax rules and regulations, and politicaland economic developments in countries in which Western Atlas Resources operates. Although Western Atlas Resources hasattempted to identify important factors that could cause actual results to differ materially from those contained in forward-lookingstatements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be noassurance that such statements will prove to be accurate, as actual results and future events could differ materially from thoseanticipated in such statements. The forward-looking statements and forward-looking information are made as of the relevant dateand Western Atlas Resources disclaims any obligation to update any such factors or to publicly announce the result of any revisionsto any of the forward-looking statements or forward-looking information contained in this presentation to reflect future results.Accordingly, readers should not place undue reliance on forward-looking statements and information.
Roscoe Postle Associates Inc. (RPA) was retained by Western Atlas Resources Inc. to prepare an independent Technical Reporton the Meadowbank Area Project held by Western Atlas, located in Nunavut Territory, Canada. This Technical Report conforms toNI 43-101 Standards of Disclosure for Mineral Projects. RPA visited the property on July 25, 2017. This report, titled “TechnicalReport on the Meadowbank Area Project, Nunavut Territory, Canada”, and dated September 13, 2017 was prepared and signed byPaul Chamois M.Sc., P.Geo., Principal Geologist at RPA and a “qualified person” as defined in NI 43-101 independent of theCompany. He has prepared or supervised the preparation of the technical information upon which portions of this presentation arebased. Unless otherwise stated, scientific and technical information concerning the Western Atlas’ Projects, is summarized, derived,or extracted from the Technical Report, which is available for review on the Company's website at www.westernar.com.
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Multidecade combined experience and successful track-record in both the natural resources and the capital market industries
Serafino Iacono – Chairman• 30+ years of experience in financing and developing of oil, mining and other
resource projects in Latin America, the United States and Europe. Raised morethan $5 billion for numerous natural resource projects
• Co-founder and Ex. Chairman Gran Colombia Gold Corp. (Colombia’s largest goldproducer), Medoro Resources Ltd., and Bolivar Gold Corp. (sold to Gold Fields)
• Co-founder and fmr. Ex. Chairman of Pacific Rubiales Energy Corp. (now FronteraEnergy Corporation)
Fabio Capponi – President & CEO, Director• 14+ years of experience and successful track-record in creating, structuring and
selling natural resources companies in Europe and both North and Latin America
• Co-Founder and CEO, Director of CB Gold Inc. (sold in Dec. 2015)
• Previously with Endeavour Financial, has held Director and Management positionswith private companies
• Master’s degree in economics and business administration from the LUISS GuidoCarli University of Rome, Italy
Jose Francisco Arata - Director• 30+ years of experience in exploration, development and production of mineral
and hydrocarbons projects in Latin America
• Co-founder of Gran Colombia Gold Corp (Colombia’s largest gold producer),Medoro Resources Ltd., and Bolivar Gold Corp. (sold to Gold Fields)
• Co-founder and fmr. President and Executive Director of Pacific Rubiales EnergyCorp. (now Frontera Energy Corporation)
• Degree in Geology from the University of Turin, Italy and a Degree in GeologicalEngineering from the Central University of Venezuela
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Michael Galego – Director• 10+ years of M&A and corporate finance experience
• Currently serves as Chief Executive Officer of the Stronach Group'sAgricultural Division
• Fmr. Director of ICC Labs Inc. and current Director of Apolo Acquisition Corp.
• Director of Trillium Gift of Life Network and the Canadian Liver Foundation.
• Mr. Galego is a graduate of York University with Hons. B.A. and theUniversity of Windsor with LL.B.
Susan Rubin – Chief Financial Officer & Corporate Secretary, CPA, CA• 20+ years of experience in the junior mining exploration sector and the high
tech sector
• Fmr. CFO of CB Gold Inc. (sold in Dec 2015), Ventana Gold Corp., andWildcat Silver Corp.
• Held various progressively senior management positions in finance and audit
Victor Torres - Senior Exploration Geologist - Geological Engineer• 15+ years of experience in mining exploration and project development
• Fmr. Chief Project Geologist with CB Gold Inc. (sold in Dec 2015)
• Previously project geologist with Teck Cominco, Placer Dome, AntofagastaMinerals and production geologist for Centromin Peru
• BSc. in Geological Engineering from the Universidad Nacional Mayor de SanMarcos of Lima, Peru and is member of the Peruvian Engineers Association(CIP)
David Laing - Corporate Development and Technical Advisor• Mining engineer with an extensive experience in the mining and banking
industries – Fmr. COO of Equinox gold - Fmr. COO of True Gold Mining -Fmr. Executive VP of Quintana Resources Capital and one of the originalexecutives of Endeavour Mining
• Director of several publicly listed companies including Fortuna Silver Minesand Sandspring Resources
Directors, Management and Advisors Western Atlas Resources
• Raised more than $5 billion for numerous natural resource projects• Gran Colombia Gold – Largest gold producer in Colombia - E2019 production of 230k oz of Au and over 5.1milion oz in resources
• Bolivar Gold Corp - El Callao Mines, Venezuela – sold to Gold Fields for US$330M
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Ability to Perform and Deliver Value Western Atlas Resources
Board and Management have created value through the development and monetization of several natural resource projects
Management and Advisors’ Background and Technical Experience
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Capital Structure Western Atlas Resources
Management & Insiders46%
Institutional7%
Public Float47%
q Fully committed Management and Insiders• largest shareholding position w/46% of
the I/O shares• Shares in escrow – released in
installments over the next 2 yearsq Company’s CEO is the largest shareholder
- shares were acquired in each financinground and on the secondary market
Exercise Price Expiry date
Shares I/O 56,380,395
Options $0.07 (*) - $0.32 1.7 years 4,683,200
Warrants $0.30 1 year 2,053,750
Fully Diluted 63,117,345 Note (*) - 200,000 options exercisable at $0.07
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Nunavut – Open for New Discoveries Western Atlas Resources
q Pro-mining jurisdictions and home to world class mining projectsq Over 12 million oz/Au in P+P reserves, 15 million oz/Au in M+I and 9 million oz/Au in Inferred resourcesq Serviced year round - local infrastructure and labour availability
• Baker Lake and Rankin Inlet are a hub of mining activity in the region. Baker Lake provides summer shipping accessvia Hudson Bay and year-round airport facilities.
• Agnico’s 110km all-weather road from Baker Lake to Amaruq passes through Western Atlas’ Meadowbank mineralareas
q Western Atlas’ vast, highly perspective areas provide additional opportunities to add value through discovery
CANADA
Nunavut
P+P Reserves M+I Resources Inferred ResourcesM oz/Au M oz/Au M oz/Au
Agnico Eagle Meadowbank gold mine 0.10 0.13 0.00Amaruq gold deposit * 2.88 1.13 2.07Medialine gold mine 3.75 3.18 2.60
Total Agnico Eagle 6.73 4.44 4.67TMAC Resources
Hope Bay project ** 3.59 4.81 1.62Sabina Gold and Silver
Back River gold project ** 2.50 5.33 1.85Auryn Resources
Three Bluffs deposit (Committee Bay - 0.52 0.72Nordgold
Pistol Bay gold project - - 0.74
Combined Total 12.82 15.11 9.60* Note: operations exp. to begin in Q3 2019; ** Mineral Resources are inclusive of mineral reserves
Nunavut - Mineral Reserves and Resources
District scale mineral claims holding• 580 km2 of highly prospective and strategically locatedmineral claims, in Nunavut, Canada
• 100% owned - claims were staked at nominal costs –No third-party options or royalties
Immediately adjacent to Agnico Eagle’sMeadowbank producing gold mine, Amaruq golddeposit and Greyhound project• Agnico’s Meadowbank E2019 production of 95k to105koz gold (*)
• Agnico’s Amaruq E2019 and E2020 production of130k and 272k oz/Au respectively (*)
• P+P 2.9M oz/Au, M+I 1.2M oz/Au and Inferredresources of 2.0M oz/Au (**)
• Greyhound project – optioned to Agnico by Aura Silver
Fully Permitted Exploration - Drill Ready• Land and Water use permits received (incl. drilling)
• Highly Prospective and untested areas - definedseveral targets for follow up and drilling
Note: (*) Soucre – Agnico Ealge’s public disclosure. Amaruq’s commericalproduction expected for Q3 2019 - total cash costs guidance of $812/oz gold; (**)Agnico’s Meadowbank open pit mine (Goose, Portage and Vault deposits), andAmaruq gold deposit. Reserves and Resources do not include the Meliadinedeposit.
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Meadowbank Project Western Atlas Resources
Agnico’s Meadowbank Producing Gold Mine
Agnico’s Amaruq Deposit
Western Atlas Block A
Western Atlas Block B
Western Atlas Block C
Completed Exploration Program
ü NI43-101 Technical Reports (prepared by RPA)ü Detailed fiel mapping and sampling programü Over 3,800 km of airborne magnetic survey (carried out by Precision Survey)ü Over 1,500 line-km of helicopter-borne VTEM followed by electromagnetic anomaly picking (EM) and AIIP processingreport (carried out by Geotech Ltd)
ü Over 32 line-km of ground IP survey over specific targets located in Block B (carried out by Peter E. Walcott & AssociatesLtd)
Drill ready - defined targets for follow up and drilling - several of these targets have yielded gold values of up to 13.30 g/t Au and up to 44.7 g/t Ag
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Meadowbank Project – Exploration Program Western Atlas Resources
q The geological and structural framework as it relates to gold mineralization in the area is well understood and generallyassociated with Banded Iron Formation (BIF) and Shear Zones
q Exploration results suggest multiple targets with kilometres strike length located within a favourable Archean greenstone beltgeological environment with known iron formation and shear zones hosted gold mineralization
q Similar geological settings can be found at Agnico Eagle’s neighbouring Meadowbank producing gold mine and Amaruqdeposits
Results of Block B’s field traverses and related mapping have highlighted geological formations such as BIF and shear zones with a strike length in the order of kilometers
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Meadowbank Project – Block B Western Atlas Resources
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Meadowbank Project – Block B, drill target B1 Western Atlas Resources
Target B1 - Highlighted BIF and shear zones with a strike length of over 15 km and 6 km respectively
Rock Sample 10233 6.89 g/t Au
Gold content within occurrences of quartz, pyrite-arsenopyrite as lenses and disseminations and fractures hosted by iron formation
Meadowbank Project – Block B, target B1 Western Atlas Resources
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Rock Sample 10573 2.06 g/t Au
Silicified Banded Iron Formation’s (BIF) boulder hosting quartz veinlets with pyrite-arsenopyrite
60 cm
Meadowbank Project – Block B, target B1 Western Atlas Resources
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OutcropBoulder
Highly deformed and angular BIF’ boulders and extensive outcrops
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Meadowbank Project – Block B, target B1 Western Atlas Resources
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Meadowbank Project – Block B, drill target B2 Western Atlas Resources
Target B2 - Highlighted BIF and shear zones with a strike length of over 3 km and 2 km respectively
Rock Sample 10277 4.85 g/t Au
Outcrop with gold content within quartz-carbonate veinlets and as dissemination and/or semi-massive sulphides with strong silicification
Meadowbank Project – Block B, target B2 Western Atlas Resources
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Meadowbank Project - Block A Western Atlas Resources
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2017-2018 Grab SamplesAu (g/t)
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GeologyAirborne VTEM Plus (Completed)
Block A Boundary
Magnetic Lines (as identified by airborne magnetic survey)
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Road
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B-Field 0.440 ms(pV*ms)/(A*m^4)
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Block A – Target A1 – VTEM Results with Geology
Block A – Target A1 – VTEM Results
DATE: DECEMBER, 2018
SCALE: AS SHOWN
PROJECTION: UTM ZONE 14/15, NAD 83
DRAWN BY: AMANDA TUCK
Western Atlas Resources Inc. Meadowbank Area Project
Nunavut Territory, Canada
BLOCK A VTEM Results with Geology
Agnico Eagle
Agnico Eagle
Agnico Eagle
Rock Sample 10843 3.74 g/t Au
Shear-zone hosted gold mineralization - Highly oxidized boulder with quartz veins hosting pyrite-arsenopyrite
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Meadowbank Project – Block A Western Atlas Resources
Oxidized boulder (felsic volcanic) - Gold hosted mineralization within strong silicification containing disseminated pyrite-arsenopyrite
Rock Sample 10915 4.10 g/t Au
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Meadowbank Project – Block A Western Atlas Resources
Highly deformed and angular Banded Iron Formation (BIF)’ boulders within Block A
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Meadowbank Project – Block A Western Atlas Resources
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Meadowbank Project - Block C Western Atlas Resources
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2017-2018 Grab SamplesAu (g/t)
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BIF DBQFP
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Shear Zone (+/-Au)
Diabase
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Felsic Volcanics (FV)
Mafic Volcanics (MV)
Quartzite (QZ)
Greywacke (GW)
Granite (GN)
GeologyAirborne VTEM Plus (Completed)
Block C Boundary
Magnetic Lines (as identified by airborne magnetic survey)
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Block C – Target C1 – VTEM Results with Geology
Block C – Target C2 – VTEM Results with Geology
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dB/dt 0.073 mspV/(A*m^4)
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dB/dt 0.073 mspV/(A*m^4)
DATE: DECEMBER, 2018
SCALE: AS SHOWN
PROJECTION: UTM ZONE 14/15, NAD 83
DRAWN BY: AMANDA TUCK
Western Atlas Resources Inc. Meadowbank Area Project
Nunavut Territory, Canada
BLOCK C VTEM Results with Geology
Target C1Target C2
Agnico Eagle
Agnico Eagle
Meadowbank project - Nunavut• District scale mineral claims holding - 580 km2 of highly prospective mineral claims• Strategically located - immediately adjacent to Agnico Eagle’s Meadowbankproducing gold mine, Amaruq gold deposit and Greyhound project
• Fully Permitted and Drill Ready• Block B’s geological formations such as BIF and shear zones with a strike length in
the order of kilometers• Similar geological settings can be found at Agnico Eagle’s neighbouringMeadowbank producing gold mine and Amaruq deposits
Building a project pipeline• Leverage on a broad range of business experience and technical skills in order tobuild a project pipeline capable of providing long term value
• Elimination of seasonality - year-round exploration and results• JV and acquisition of new assets with historic data or early-stage projects withvalue-added through the drill-bit
• Operating in low-political risk and pro-mining jurisdictions
Proven ability to perform and deliver value• Directors and management with decades of successful track-record in both the
natural resources and the capital market industries• Value created through the development and monetization of several projects
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Western Atlas’ Advantage Western Atlas Resources
Western Atlas Resources
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AppendixMeadowbank Project – Geological features, VTEM and IP Survey
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Meadowbank Project – Block A and B Western Atlas Resources
Lithology Associated to Archean Rocks favorable to gold deposits in the area - Similar geological settings can be found at Agnico Eagle’s neighbouring Meadowbank producing gold mine and
Amaruq deposits
BANDED IRON FORMATION ULTRAMAFIC VOLCANIC ROCKS
MAFIC VOLCANICS FELSIC VOLCANICS
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BANDED IRON FORMATION SILICA IN CHERT HORIZONS WITH PYRITE
QUARTZ VEINS WITH PYRITE-ARSENOPYRITE SILICIFICATION WITH QUARTZ AND PYRITE
Mineralized alteration styles associated to gold occurrences - Similar geological settings can be found at Agnico Eagle’s neighbouring Meadowbank producing gold mine and Amaruq deposits
Meadowbank Project - Block B Western Atlas Resources
Highlights from VTEM results• 1,500 line kilometres of surveying completedover portions of the Meadowbank Blocks A, Band C (VTEM survey was carried out byGeotech Ltd.)
• Aimed at identifying bedrock conductiveresponses in areas that Western Atlasconsiders to be geologically permissive forgold mineralization
• Numerous strong electromagnetic (EM)anomalies were located in Blocks B and C
• The strong EM double-peak anomalies arerelated to bedrock conductors, i.e., BIF-related sulphides - including pyrrhotitepossibly (*)
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Meadowbank Project – VTEM survey Western Atlas Resources
IVR pit
Whale Tail pit
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Western Atlas Resources Properties
Agnico - Amaruq Property
Agnico - Meadowbank Property
JV Agnico-Aura Silver Greyhound Property
Aura Silver Property
Agnico - New Properties
Inuit Owned Lands (IOL)
IOL Subsurface Agreements
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DATE: DECEMBER, 2018
SCALE: AS SHOWN
PROJECTION: UTM ZONE 14/15, NAD 83
DRAWN BY: AMANDA TUCK
Western Atlas Resources Inc. Meadowbank Area Project
Nunavut Territory, Canada
TARGETS A1, B1, B2, AND C1 VTEM SURVEY LOCATIONS
Note: (*) Electromagnetic anomaly picking (EM) and AIIP processing report (by Geotech Ltd)
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Block B – VTEM Survey with Geology Western Atlas Resources
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!(
624000
628000
632000
636000
640000
644000
648000
7172000
7176000
7180000
7184000
7188000
7192000
Legend
0 2.5 5km
¯
Outcrops
2017-2018 Grab SamplesAu (g/t)
!( <0.015
!( 0.015 - 0.050
!( 0.051 - 0.100
!( 0.101 - 1.000
!( 1.001 - 2.500
!( >2.500
BIF DBQFP
SLT UV FV MV QZQW GN
Cover
Banded Iron Formation (BIF +/- Au)
Shear Zone (+/-Au)
Diabase
Quartz-Feldspar Porphyry (QFP)
Shale/Slate (SLT)
Ultramafic Volcanics (UV)
Felsic Volcanics (FV)
Mafic Volcanics (MV)
Quartzite (QZ)
Greywacke (GW)
Granite (GN)
GeologyAirborne VTEM Plus (Completed)
Block B Boundary
Magnetic Lines (as identified by airborne magnetic survey)
Shear
Fault
(( Thrust Fault
Road
0.551
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640000
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646000
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7186000
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7190000
0 1 2km
0 1 2km
13.3
Block B – Target B1 – VTEM Results with Geology
Block B – Target B2 – VTEM Results with Geology
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Block B – Target B3 – VTEM Results with Geology
0.00990.01160.01280.01380.01470.01560.01640.01730.01820.01910.01990.02090.02180.02280.02390.02490.02600.02730.02870.03050.03270.03610.04130.05080.06440.08130.10490.14050.18580.24390.31030.42780.57170.73050.92521.13451.35661.6185
Tau dB/dt(ms)
6.89 0.63
0.68
1.02
5.65 2.06
0.87
2.232.95
4.85
-0.0010-0.0004-0.00010.00020.00040.00060.00080.00100.00110.00120.00140.00150.00160.00170.00180.00200.00210.00220.00230.00240.00250.00260.00270.00280.00290.00300.00320.00330.00340.00360.00370.00390.00400.00420.00450.00470.00510.0057
dB/dt 0.440 mspV/(A*m^4)
0.551
0.734
0.00150.00220.00440.00750.01150.01620.02070.02530.02960.03390.03800.04200.04600.04980.05370.05770.06180.06600.06990.07410.07840.08270.08720.09200.09690.10240.10790.11430.12140.12950.13920.15100.16630.18630.21170.24970.32760.5917
dB/dt 0.073 mspV/(A*m^4)
6.89
0.68 13.31.02
5.65
2.06
0.87
0.63
2.23
2.95
4.85
0.975
1.02
0.734
Target B3
Target B2
Target B1
0 1 2km
DATE: DECEMBER, 2018
SCALE: AS SHOWN
PROJECTION: UTM ZONE 14/15, NAD 83
DRAWN BY: AMANDA TUCK
Western Atlas Resources Inc. Meadowbank Area Project
Nunavut Territory, Canada
BLOCK B VTEM Results with Geology
Agnico Eagle
Agnico Eagle
Agnico Eagle
27
Block B, drill target B1 with VTEM Western Atlas Resources
Block B, drill target B2 with VTEM Western Atlas Resources
28
29The image part with relationship ID rId3 was not found in the file.
Meadowbank Project - Block B, IP Survey Western Atlas Resources
Highlights from IP results• Multiple trends of conductors with a strike length ranging from 400 meters to 7.1 kilometers. Depth reach of the conductorsvaries from 75 meter and to over 300 meters from surface
• Numerous moderate to high chargeability anomalies coincident with and flanking VTEM anomalies• The surface projection of these anomalies coincides with areas mapped by Western Atlas• The underlain structures yielded highly anomalous gold values at points• The results of Grid 3 highlights two crosscutting chargeability trends within an intense magnetic corridor• These chargeability trends are formed by a dominant northeastern trend tracking the regional geological trend, and asecond east-westerly trend crossing the dominant trend in the southwest portion of the survey area
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63
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7176000 7176000
7178000 7178000
7180000 7180000
7182000
Legend
0 1 2km
¯
Banded Iron Formation (BIF +/- Au)
Shear Zone (+/- Au)
IP Survey Grid Areas (Completed)
Airborne VTEM Plus (Completed)
Block B Survey Boundary
Waterbody
Topographic contour
Magnetic Lines (as identified by airborne magnetic survey)
Shear
Fault
DATE: SEPTEMBER, 2018
SCALE: AS SHOWN
PROJECTION: UTM ZONE 14/15, NAD 83
DRAWN BY: AMANDA TUCK
BLOCK B - TARGET B1 Apparent Chargeability (mV/V) with
Geology
Western Atlas Resources Inc. Meadowbank Area Project
Nunavut Territory, CanadaGRID 1
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7178000 7178000
GRID 2
GRID 3
GRID 1 GRID 2
0 0.5 1Km
0 0.5 1Km
2017-2018 Grab Samples
Au (g/t)!( 0.015 - 0.050
!( 0.051 - 0.100
!( 0.101 - 1.000
!( 1.001 - 2.500
!( 2.501 - 100.000
13.3
1.02
0.68
2.06
5.65
0.63
0.6813.3
1.02
6.89
0.87
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7180000 7180000
GRID 3
0 0.5 1Km
2.8
3.4
4.0
4.6
5.1
5.7
6.3
6.9
7.5
8.1
8.6
9.2
9.8
10.4
11.0
11.6
12.2
12.7
13.3
13.9
14.5
15.1
15.7
16.2
16.8
17.4
18.0
18.6
19.2
19.7
20.3
20.9
21.5
22.1
22.7
23.2
23.8
24.4
mV/VGrid 3
15.4
15.8
16.2
16.5
16.9
17.3
17.7
18.1
18.5
18.8
19.2
19.6
20.0
20.4
20.8
21.2
21.5
21.9
22.3
22.7
23.1
23.5
23.8
24.2
24.6
25.0
25.4
25.8
26.2
26.5
26.9
27.3
27.7
28.1
28.5
28.8
29.2
29.6
mV/VGrid 1
15.6
16.3
16.9
17.6
18.2
18.8
19.5
20.1
20.8
21.4
22.1
22.7
23.3
24.0
24.6
25.3
25.9
26.5
27.2
27.8
28.5
29.1
29.7
30.4
31.0
31.7
32.3
32.9
33.6
34.2
34.9
35.5
36.2
36.8
37.4
38.1
38.7
39.4
mV/VGrid 2
Western Atlas Resources Inc.
(TSX-V: WA)
1700 - 666 Burrard StreetVancouver, BC V6C 2X8, Canada
www.westernar.comemail: [email protected]
The image part with relationship ID rId3 was not found in the file.