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TSX.V: KLD $0.710.01

O’Sullivan
Project

Location:
Quebec, Canada

Size:
27,595 ha

Stage:
Grassroots

Deposit Type(s):
Orogenic Au, Intrusion-related Au

The O’Sullivan Project covers 27,595 hectares of mineral tenure within the Abitibi Greenstone Belt (AGB) along the Casa Berardi Deformation Zone (CBDZ). The CBDZ is one of the primary structures that controls orogenic gold mineralisation in the belt and hosts the active Casa Berardi mine that has produced over 1.9 million ounces of gold since 1988, with recent proven and probable reserves of 1.7 million ounces (December 31, 2019).  Other major deposits along the CBDZ include the Douay gold deposit (2.35 million oz Au inferred and 422,000 oz Au indicated) as well as the Nelligan gold deposit, having a 3.2 million ounce inferred resource (October 22, 2019). The O’Sullivan Project covers approximately 15 kilometers of strike length along the southern margin of the CBDZ where the deformation zone intersects volcanic rocks of the Stoughton-Roquemaure and Kidd-Munro assemblages.

The project is located approximately 50 kilometers east of the city of Lebel-sur-Quévillon and 150 kilometers northeast of Val-d’Or, Quebec. Local infrastructure includes a power transmission line transecting the property, a railway line approximately five kilometers to the north of the project, and an extensive network of logging roads throughout the property.

The geology of the O’Sullivan Project consists of volcanic rocks belonging to the Stoughton-Roquemaure and Kidd-Munro volcanic assemblages. The geology in the northwestern portion of the property, associated with the CBDZ, is marked by polymictic conglomerates and clastic sedimentary basins which have been moderately to strongly strained. Within the central and southern portion of the project the geology mainly consists of mafic volcanic rocks, and felsic to mafic intrusive rocks, primarily interpreted from magnetic data. Bedrock exposure throughout the property is scarce as most of the project area is concealed by glacial till and sediments.

The O’Sullivan Project has seen very limited modern exploration when compared to other areas of the Abitibi Greenstone Belt. Most of the historical exploration consisted of diamond drilling (59 drill holes totaling 9,504m) which targeted geophysical anomalies in the northern portion of the property. Within the central and east portion of the project limited glacial till sampling identified strong gold anomalism in till substrate however limited follow-up work was documented. The southern portion of the project remained largely unexplored with only a few drill holes which targeted discreet geophysical anomalies.

In 2019, the Company acquired the 27,595 hectare O’Sullivan Project through map staking.

In September 2020, a LIDAR survey was completed and used to plan a property-wide surface geochemical survey. In the summer of 2020, 1,322 B-horizon till samples were collected on a 1000m by 200m grid as a first pass reconnaissance-style program with the objective of identifying geochemical anomalism within the glacial till cover.

During October of 2021, a follow up till sampling program was completed, infilling six target areas which were identified during the initial 2020 geochemical survey. The infill soil sampling was completed on a 50m by 250m grid with a total 487 soil samples collected.