Lands Parcels in IOL CO-20 - PDF Free Download

Lands Parcels in IOL CO-20 1

CO-20 The Izok Corridor Lupin - multi-million ounce past gold production (3.6 million oz of gold at average grade of 9.3 g/t Au) Approximately 1 million ounces of undeveloped gold resources Deposits with Resources Hope Bay -403,600 oz at Lupin, - 418,510 oz at Ulu ref: www.elginmining.com) Arcadia High Lake Turner High Lake and Izok Lake undeveloped deposits - 2.4 million tonnes of zinc, 0.6 million tonnes of undeveloped copper resources defined (ref: www.mmg.com) Major infrastructure projects including a 325 km road to tidewater are under consideration to exploit base metal deposits Hood Izok Ren Ulu Jericho CO-20 Lupin Pistol 2

CO-20 land parcels 510 km NE of Yellowknife 20 land parcels (MEA WestKit-0001) North ~23 km long by 11 km wide (21,154 ha) South ~11 km long by 6 km wide (5,186 ha) North property adjacent to grandfathered lease on the Ulu deposit Landing strip associated with the Ulu deposit Proposed road passes along the east side of CO-20 3

CO-20 Mineral occurrences gold occurrences - two types: Archean lode gold greenstone hosted - North property - shears oblique to stratigraphy hosting sulphide-bearing qtz-carb veins (Match) - in mt-bearing pyroxenite gabbro (Fire) - in and along felsic volcanics contacts (Smoke) - Stringers, semi-massive to disseminated pyrite, pyrrhotite, chalcopyrite, and sphalerite Archean lode gold iron formation hosted - South Property - alternately described as black shales, amphibolitized iron formation, or a combination of amphibolite, mafic volcanic/gabbro or metasediment - higher gold grades are associated with disseminated sulphide, principally arsenopyrite and lesser pyrrhotite and pyrite Up to 1353 ppb Au Up to 1480 ppb Au Up to 92.33 g/t Au and 8.3 g/t Au / 2.7 m in ddh Up to 43.92 g/t Au and 9.16 g/t Au / 2.03 m in ddh Up to 29.4 g/t Au / 4.5 m in ddh Up to 11.77 g/t Au 4

CO-20 Mineral occurrences Volcanogenic massive sulphide Cu-Zn bimodal mafic - mafic to felsic metavolcanics intruded by gabbro - Mineralization traced in outcrop / frost heave over 200 m strike length - drilling intersected stringer py, po, and cpy, biotite, po - talc and chloritealtered intermediate tuffs and mafic to intermediate flows in the hangingwall - massive py, po, cpy, and sph in the footwall biotite-talc-amphibolechlorite altered mafic to intermediate tuffs - stringer overlying massive and Cu overlying Zn suggests the stratigraphy may overturned with tops to the east 4.0% Cu, 4.34% Zn / 1.56 m in ddh 5

CO-20 Geology underlain predominantly by the Eastern domain - High Lake belt - south- and east-facing basalt overlain by intermediate fragmentals and flows with lesser felsic volcanics - gabbro-diorite occur as conformable thin lenses and bodies within mafic volcanics - moderately to strongly magnetic phase that postdates an earlier non-magnetic phase - greywacke to mudstone, and amph-gt Fe-formation top the volcanics to the south rocks of the Central domain underlie the northwest corner - mafic volcanic flows, sills, dykes and breccias - metasedimentary rocks consist of graded greywacke to mudstone turbidite successions Butane Fault displays several hundreds of metres of sinistral displacement The Plumbob break separates the Eastern and Central domains 6

CO-20 Fire-Match-Smoke underlain by a sequence of NE-striking mafic flows locally interbedded with intermediate to felsic volcaniclastics, all intruded by gabbro sills Bedrock exposure - poor to moderate mineralization is associated with 030-050 o, steeply dipping, chlorite-carbonatesericite altered shear zones parallel to oblique to stratigraphy Fire shearing in mt-bearing pyroxenite gabbro Altn appear to be limited to local chloritization and carbonatization, with patchy silicification Match - mtc or non-mtc gabbro/diorite or qtz veins hosting finely disseminated py, po, and cpy along vein-host rock or volcanic contacts Altn commonly silica flooding and carbonatization Smoke -poorly exposed sulphide-bearing veins localized along narrow, sheared felsic flow in contact with mafic volcanics disseminations or bands of py and cpy comprising up to 3% of the vein 7

CO-20 Fire-Match-Smoke 1992 and 1995-32 holes (2,344 m) - ave. 73 m long 2004 6 holes (758 m) 94FD-02: 2.49 g/t Au over 0.73 m 94FD-14: 3.9 g/t Au over 3.67 m (incl. 10.90 g/t Au over 0.97) 94FD-31: 2.49 g/t Au over 0.73 m 94FD-05: 8.74 g/t Au over 1.0 m; 1.68 g/t Au over 0.90 m 94FD-03: 7.03 g/t Au over 0.5 m; 7.17 g/t Au over 0.25 m; 2.06 g/t Au over 0.4 m 94FD-29: 1.06 g/t Au over 0.51 m 94FD-19: 26.75 g/t Au over 5.3 m ( incl. 11.96 g/t Au over 0.64 m, 67.91 g/t Au over 0.7 m and 11.29 g/t Au over 0.8 m); 2.49 g/t Au over 0.83 m 94FD-11: 4.12 g/t Au over 6.4 m (incl. 8.56 g/t Au over 0.74 m and 6.89 g/t Au over 0.85 m 2.27 g/t Au over 0.89 m 04FD-12: 9.16 g/t Au over 2.03 m (incl. 10.19 g/t Au over 0.23 m 94FD-13: 12.2 g/t Au over 2.12 m (incl. 25.80 g/t Au over 0.90 m) 94FD-18: 2.23 g/t Au over 0.5 m; 4.34 g/t Au over 0.5 m 94FD-06: 4.39 g/t Au over 1.0 m (incl. 7.27 g/t Au over 0.55 m 8

CO-20 Fire-Match-Smoke Mineral deposit model: - giant Kalgoorlie gold deposit - Kalgoorlie Superpit - 652,000 oz Au produced in 2014-6,964,000 oz reserve in 2014 (http://www.barrick.com/operations/australia/kalgoorlie/default.aspx) - the most important gold host is the Golden Mile Dolerite (80% of gold produced) - tholeiitic gabbro sill intruded between a lower mafic-ultramafic volcanics and overlying felsic rocks and metasediments - ductile shear zones related to folding are the site of most economic gold mineralization (Phillips, 1986) - fluids react with gabbro depositing gold 9

CO-20 2015 Geophysics Targeted the nature of the rocks hosting gold and the associated sulphides - in mt-bearing pyroxenite gabbro (Fire) - in and along felsic volcanics contacts (Smoke) - Stringers, semi-massive to disseminated pyrite, pyrrhotite, chalcopyrite, and sphalerite magnetic response traces the magnetic gabbro sills suggests continuity through areas with little outcrop highlights sills parallel to known gold zones that have not been investigated (pass work has been guided by surface sampling) Aids in defining structures that disrupt the stratigraphy but have not been explored 10

CO-20 2015 Geophysics EM has no obvious correlation with the gold other than possibly in the Smoke - there is mention of po and py in core - correlating with the gold in one hole but not two others associated with the northern anomaly. best EM conductor is overburden covered and unexplained - No Lake gossan - 15 by 50 ft. mt-cpy in by chloritic rhyolite returned 2.19% Cu - U4 gossan: small blocks and stringers of po with minor cpy hosted by highly siliceous volcanic rocks returned up to 0.20% Cu and 1.20% Zn. - may be a good VMS target anomaly south of No Lake is also overburden covered - volcanic hosted? Spot anomaly - disseminated to massive py and po with best result 0.94% Zn. 11

CO-20 Next Steps EM has no obvious correlation with the gold other than possibly in the Smoke Budget 12

CO-20 Long Lake Long Lake showings: Eva, Genesis, Juliet, and Pulse south - NE-trending, steeply dipping shear zones up to 1 km in width approximately parallel stratigraphy - Mineralization is predominantly foliation parallel, often boudinaged, sulphide-bearing, qtz-carb veins within highly sheared sericite-chlorite altered volcanics. - Sulphides consist of disseminated py, minor cpy, with weak to moderate malachite staining. - Chloritized and carbonatized wall rock also hosts minor to moderate amounts of py and cpy - Initial sampling in 1974 of frost heaved carb-rich rocks with up to 10% cpy returned up to 0.82% Cu, 2.02% Zn, and 0.12 oz/t Au. - best sample of a shear-hosted cpy-sph-au qtz vein SE of Eve Lake returned 21.8 g/t Au - sampling southwest of Genesis Lake along a volcanic intrusive contact returned up to 7.53 g/t and 6.31g/t Au. - Juliet -sample along a NE-trending fault returned 769 ppm Au and 3,910 ppm Cu 14

CO-20 Spark - NE portion the north property on the north side of the Hood River - underlain by north-trending, amphibolite facies mafic volcanics with minor intercalated felsic tuff and sediments intruded by gabbro stocks and sills. - A 075, steeply dipping chlorite-carbonate shear zone up to 1.5 km in width terminates along a fault with a probable strike-slip sense of movement. - Mineralization consists of quartz-carbonate veins with py and po hosted by felsic volcanics and interbedded argillite and mafic volcanics - returned up to 35.4 g/t Au with another sample returning up to 1,528 ppm Cu. 15

CO-20 Contact Archean lode gold iron formation hosted - alternately described as black shales, amphibolitized iron formation, or a combination of amphibolite, mafic volcanic/gabbro or metasediment - higher gold grades are associated with disseminated sulphide, principally arsenopyrite and lesser pyrrhotite and pyrite - six gold showings covering a 3 km W-NW-trend with showing 4 located an additional 3 km to the NW - 1 to 5 m wide sulphidic horizons or facies of lean iron formation. Showing Au (g/t) length (m) Area (m x m) 1 19.2 6.5 x 1.0 1 19.03 0.5 2 2.1 1.7 3 1.64 1.5 x 1.5 4 0.9 8.0 x 2.0 5 1.2 6 2.8 3.0 x 3.0 Showing 4 Strongbow 2004 sampling Showing 3 Showing 5 Showing 6 Showing 1 Showing 2 16

CO-20 Chuk VMS Cu-Zn mineralization - NE-trending, vertical to steep west dipping, mafic -felsic metavolcanics intruded by gabbro - mineralization in all three lithologies, traced over 200-m strike length - Drilling intersected both stringer and massive style mineralization. - stringer py, po and cpy in hanging wall - massive py, po, cpy, and sph in the footwall - hole R-1-80 intersected 1.56 m of massive sulphides returning 0.03 oz/t Au, 0.48 oz/t Ag, 4.0% Cu, 4.34% Zn. - hole R-2-80 an undercut intersected stringer sulphides returning 0.25 oz/t Au and 0.35 oz/t Ag over 1.0m - TMC review of historical geophysics suggests a good potential to find additional mineralization 17

Thank You If you have any questions or require further information, please contact: Peter Hughes West Kitikmeot Gold Corp. 1-604-802-7372 petehughes@me.com 18