Geology

The Valentine Lake Property hosts structurally controlled, orogenic-type gold bearing Quartz Tourmaline Pyrite (QTP) veins which occur along or proximal to the Valentine Lake Shear Zone which juxtaposed Precambrian rock of the Valentine Lake Intrusive Complex against the Silurian Rogerson Lake conglomerate.

The property is host to four gold deposits and multiple early stage exploration prospects along a 20-kilometre North-East, South-West trend. New resource updates for the Leprechaun and the Marathon Deposits were released in January 2020 while resource updates for the Sprite and Victory Deposits were completed in October 2018.

Multiple high potential prospects have been identified within the Valentine Gold Project, all of which are located along the Valentine Lake Shear Zone and include Frank Zone, Rainbow Zone, Triangle Zone, Victoria Bridge, Narrows, Victory SW, Victory NE and the Berry Zone.

The vein geometry consists of dominantly shallow southwest dipping, stacked en-echelon extensional veining and subordinate shear parallel steeply dipping fault filled veins. The QTP veins vary in thickness but are typically 2 to 30 cm thick with visible gold occurring as sub-millimetre to millimetre scale grains within or along the margins of coarse cubic pyrite and minor tellurides. Highest gold grades are commonly associated with large (1 to 3 cm) cubic pyrite within the QTP veining.