Summary

The recommended field program for 2021 includes a UAV-Magnetic and VLF-EM airborne Drone survey where magnetic and VLF-EM data will be collected. The Magnetic survey will total 560-line kilometers based on a 50m line spacing and a VLF-8 EM survey totaling 122-line kilometers is based on a line spacing of 100m. Both surveys will be flown in a near north-south direction. In addition, a soil auger sampling program and B horizon soil sampling program totaling 160 samples is further recommended to cover those areas where historical VLF conductors and associated soil geochemical results were received and to determine the effectiveness of the soil geochemical surveys. In addition, a 27.6km line cutting program is recommended to establish a cut grid located between the two anomalous creeks. A total of 11 grid lines will be established at 125m intervals with stations established along the lines at 25m intervals. The grid lines will extend over 2500m in length oriented in a near north-south direction over which 11.4-line kilometers of 2-D Active Array Induced Polarization survey will be completed.

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History

Historical work on the Kagoot Brook property was largely driven by the results received from a 1981 Geological Survey Branch, New Brunswick Department of Natural Resources stream and spring sediment survey covering the Serpentine Lake map sheet NTS 21O/02. The Kagoot Brook property covers two anomalous northeast trending tributaries draining into Kagoot Brook. The results of the survey returned significantly elevated and anomalous cobalt in silts from both tributaries with values varying from 63ppm to 1,316ppm Co. The results of the survey spurred multiple, multi-faceted exploration campaigns through the 1980’s and 1990’s.


In 1985, Brunswick Mining and Smelting Corporation Limited completed an exploration program consisting of pan, silt and soil samples collected along the anomalous drainages, a 15km cut grid was established between the creeks over which 1,051 B horizon soil samples were collected and VLF-EM and magnetic geophysical surveys were completed. The VLF survey identified three strong and two weak VLF- EM conductors associated with elevated and anomalous Cu, Ag and Co values with one of the conductors reporting elevated and anomalous soil sample results of 200ppm Cu, 3.1ppm Ag and 880ppm Co. A total of 35 silt samples collected along the anomalous drainages indicated strongly anomalous cobalt values varying from 4.0ppm Co to 6,000ppm Co, 9ppm Cu to 260ppm Cu, 0.6ppm to 4.1ppm Ag, 5ppm Ni to

215ppm Ni, 18.0ppm Pb to 112ppm Pb and 21.0ppm to 427ppm Zn. Proposed recommendations included detailed magnetic and VLF geophysical surveys and additional soil sampling along the three anomalous VLF-EM trends with 300m of trenching. 


In 2018 Explorex Resources Inc. re-processed the 1986-1987 fixed wing airborne magnetic survey data covering the property. The 3D modelling indicated the Kagoot Brook claims are underlain by a synformal fold structure with a fold axis trending near east-west. In July 2018, a 27.6km cut grid was initiated over which ground magnetic and VLF-EM surveys were to be completed. By late August the line cutters had made little progress due to the unexpected density of vegetation, the line cutters were not able to satisfy the contracted line cutting program and as a result only 8.1km of cutting was completed. As a result, in December 2018 magnetic and VLF-EM surveys were completed along widely spaced selected logging road access trails. In July and September 2018, a silt sampling program was completed along the two anomalous creeks to confirm the existence and location of the historical silt sample results. A total of 51 silt samples were collected and confirmed the historical results with cobalt values to 3,190ppm Co. The silt sampling program identified a clear and well defined up stream cut-off to the anomalous cobalt silt values. In December 2018 a two-hole NQ oriented core drill program was completed totalling 501m. The program was designed to test the underlying stratigraphy for the possible source of the anomalous stream sediment silt values. The principal rock types encountered in both holes was predominately a very fine-grained dark grey to black, finely laminated mudstone interbedded with a grey to light grey fine to coarse grained siltstone with accessory pyrrhotite. The mature sediments and rock types are interpreted to form part of the Patrick Brook Formation. The structural data collected from the oriented core suggests that each drill hole may have been collared on opposing limbs of a tight synformal fold structure. Best results

from the two-hole drill program returned 79ppm Co.

Location

The Kagoot Property is located 130km to the southwest of Bathurst, New Brunswick and is centered at 47° 12’ 21.29” N Latitude / 66° 31’ 09.73” W Longitude. The property is located on NTS 21O/02 and consists of one mineral claim 7716 Kagoot Brook which covers 193 claim units or approximately 4,233ha of land.

Recent Work & Findings

A Phase 2 Oriented NQ core drill program totaling 500m is further recommended to test significant results received from the Drone Airborne Surveys, the soil and auger sampling programs and the 2-D Induced Polarization surveys. Total budgeted exploration field costs to complete the proposed field programs total $291,347.00 ($320,481.70 including 10% contingency).