Tropical Gold Mines owns a 100%* interest in the Committee Bay gold project located in Nunavut, Canada.
Committee Bay Gold Project Highlights
High-grade gold endowment and an established resource
Existing exploration infrastructure
Mining friendly jurisdiction
Over 270,000 hectares with district scale discovery opportunities
Major mine development underway in the area
*The Committee Bay project is held 100% by Tropical subject to a 1% Net Smelter Royalty (“NSR”) on the entire project and an additional 1.5% NSR on a small portion of the project. The 1.5% NSR is payable on only 7,596 hectares and is buyable within two years of the commencement of commercial production for $2,000,000 for each one-third (0.5%) of the NSR
Location & Infrastructure
The Committee Bay gold project is located in Nunavut, Canada. It includes over 270,000 hectares situated along the Committee Bay Greenstone Belt (CBGB).
The CBGB is located approximately 180 kiilometres (km) NE of Agnico Eagle Mines’ Meadowbank mine and extends more than 300km northeast to the shores of Committee Bay, within Nunavut Territory of the Canadian mainland.
The project benefits from existing infrastructure, which includes:
Bulk storage fuel facilities
Five high-efficiency drill rigs
Heated drill water system
Heavy equipment on site
100-person camp at the Three Bluffs deposit area and two satellite camps in the SW of the belt
Project Geology
The Committee Bay gold project includes over 270,000 hectares situated along the Committee Bay Greenstone Belt (CBGB).
The CBGB comprises one of a number of Archean aged greenstone belts occurring within the larger Western Churchill province of north-eastern Canada. The character and history of rock packages, and the timing and nature of mineralization occurring within the CBGB is considered to be equivalent to that of other significant gold bearing Archean greenstones within the Western Churchill Province, which hosts deposits such as Meadowbank and Meliadine.
Reserves & Resources
High-grade gold occurrences are found throughout the 300km strike length of the Committee Bay Gold Bet with the most
significant being the Three Bluffs deposit that contains resources as listed in the table below: *(refer to NI43-101 report
dated May 31, 2017.
Table 1: Update Mineral Resources for the Three Bluffs Deposit as of May 31, 2017
Class
Type
Cut-Off
(g/t Au)
Tonnes
(000 t)
Gold Grade
(g/t Au)
Contained Gold
(oz Au)
Indicated
Near Surface
3.0
1,760
7.72
437,000
Underground
4.0
310
8.57
86,000
Total
2,070
7.85
524,000
Inferred
Near Surface
3.0
590
7.57
144,000
Underground
4.0
2,340
7.65
576,000
Total
2,930
7.64
720,000
Notes:
1. CIM definitions were followed for Mineral Resources.
2. Mineral Resources are estimated at cut-off grades of 3.0 g/t Au for open pit and 4.0 g/t Au for underground.
3. Mineral Resources are estimated using a long-term gold price of US$1,200 per ounce, and a US$/C$ exchange rate of 1:25.
4. Nominal minimum mining widths of five metres (near surface) and two metres (underground) were used.
5. Numbers may not add due to rounding.
6. Cautionary Note to U.S. Investors, please see the following link: SEC Cautionary Language Rider for Mining Disclosure
The Mineral Resource estimate was prepared by RPA for the Three Bluffs deposit as of May 12, 2017. The Mineral Resource is based on work by RPA in 2013 and new cut-off grades based on updated metal price, exchange rate, and operating costs.
Three Bluffs deposit remains open for expansion both along strike and at depth and is considered to have excellent exploration upside to significantly increase the resource base within 5km of the currently defined deposit trend.
Long Section of Three Bluffs Resource
2019 Drill Program
The 2019 summer drill program resulted in the Company drilling a new gold-bearing hydrothermal system and making significant progress in geophysical targeting. At the Shamrock target Auryn intersected 30 metres (m) of 0.67 g/t gold, including 1.5m of 5.03 g/t gold, which is characterized by quartz veining within gabbroic rocks. The Shamrock target is located 2.5km to the southwest of the Aiviq target where the Company drilled 10.5km of 1.22 g/t gold this summer.
Table 1: 2019 Summer Drill Results
Significant Intercepts 2019*
Prospect
Hole ID
From (m)
To (m)
Interval (m)
Au (g/t)
Shamrock
19SH001
10.5
40.5
30
0.67
Incl.
39
40.5
1.5
5.03
97.5
100.5
3
0.78
108
109.5
1.5
0.81
165
166.5
1.5
1.12
Aiviq
19RG020
39
40.5
1.5
0.31
159
169.5
10.5
1.22
Incl.
159
160.5
1.5
6.20
246
247.5
1.5
1.32
*Significant Intercepts - 2019 (minimum grade 0.25ppm, minimum width 1m, max. internal dilution 6m); True widths of mineralization are unknown based on current geometric understanding of the mineralized intervals
Importantly, a high quality pipeline of targets exists within the CBGB that are both drill ready and can quickly be advanced to drill stage. The most advanced of these targets are high-grade occurrences that have been defined through initial diamond drill testing. These include the Inuk, West Plains, and Raven targets that have the following drilling highlights listed in the table below. Collectively, these advanced targets demonstrate the potential to define additional high-grade resources within the CBGB.
Prospect
Hole ID
Depth from
(m)
Depth to
(m)
Length
(m)
Grade (g/t Au)
Inuk
3I001B*1**
62.00
74.60
12.60
16.04
Inuk
07IN006*2**
67.00
78.00
11.00
11.18
West Plains
05WP004*3**
56.85
65.58
8.73
14.76
West Plains
06WP006*4**
109.00
117.00
8.00
13.14
Raven
05RV001*5**
102.38
107.79
5.49
12.60
Raven
05RV002*5**
38.81
41.24
2.43
36.22
* Please see press releases dated 1 September 2nd, 2003, 2 September 5th, 2007, 3 August 25th, 2005, 4 October 6th 2006, and 5 May 19th, 2005 filed on Sedar under Niblack Mineral Development Inc.
** True width of intercept unknown
Exploration work on the Committee Bay Property is supervised by Michael Henrichsen, P. Geo., COO of Auryn Resources and a Qualified Person as defined by NI 43-101. Unless otherwise indicated, Mr. Henrichsen has reviewed and is responsible for the technical information contained in this website.
High-resolution till sampling has become an integral layer of data for six targets at Committee Bay, Nunavut. These targets include the previously disclosed Aiviq sampling, which was drilled in 2017
(14-Sep-2017 news release).
Gold assay results from the high-resolution (100 metre by 100 metre spacing) till surveys across nine regional targets demonstrate greater precision for identifying the potential source areas of high-grade gold mineralization seen throughout the belt. The results of the surveys have delineated gold-in-till anomalies that are consistent with the size of potential deposit footprints and will form the basis of future drill campaigns at Committee Bay.
Machine Learning:
The Computational Geoscienes Inc. machine learning platform will generate additional targets across the ‘Three Bluffs playing field’ –a 1,600 square kilometre area, which includes the Three Bluffs Deposit and the 20km shear zone hosting the Aiviq and Kallulik targets where significant gold mineralization has been encountered. The platform will process the vast amount of data (collected through extensive surface geochemical sampling, geological mapping, geophysical surveys, and drilling) from work Auryn and prior explorers have completed on the project.
To produce optimal results there needs to be extensive experience in the aforementioned fields of geoscience data processing, data interpretation, and artificial intelligence, and between Auryn and CGI, there exists a world-class team of experts across these disciplines.
Communities and the Environment
Tropical Gold Mines understands the shared value that mining can bring but also understands its risks and the importance of responsible and sustainable development. The company strives to maintain the highest standards of environmental protection and community engagement throughout all of its projects.
Tropical is focused on bringing this shared value approach to the arctic.
