Great Burnt

Project highlights

• A 100% owned volcanogenic massive sulphide (VMS) deposit in central Newfoundland’s highly prospective, base-metal-rich greenstone belt, consisting of 4 prospective zones:

1. The Great Burnt Zone (Copper).

• Indicated Resource of 381,300 tonnes at 2.68% Cu, Inferred Resource of 663,100 tonnes at 2.10% Cu* and open at depth.

        2. South Pond “A” Zone (Copper, Gold).

        3. South Pond “B” Zone (Gold).

        4. End Zone Prospect (Copper).

• Recent high grade copper discovery at the Great Burnt Zone - April 26, 2016, Spruce Ridge drills 7.5 metres of 9.45% copper, including 3 metres of 19.3% copper;
• Potential high-grade starter pit identified with 237,000 tonnes at 2.51% copper (undiluted) at the Great Burnt Zone, with relatively low capex;
• Near-surface gold present at South Pond “B” Zone– drill results include 28 metres at 1.16 g/t gold, 4.33 metres at 4.75 g/t gold;
• Road and airport accessible property, with mining infrastructure nearby – Great Burnt is 40km south east of Teck’s Duck Pond mine;
• Central Newfoundland is home to many well known mining camps dating back to the mid-19th century;
• 100% interest in mining lease and 5 contiguous mineral licences covering 148 claim units with an area of 4,065 ha, lease subject to 2% NSR in favour of Glencore;
• Significant exploration data including drill database of 17,000 meters and 2007 Aeroquest Mag/EM survey.

• Prospective, near-surface gold present at South Pond “B” Zone (see South Pond “B” Plan View Diamond Drill Results);
• Spruce Intends to drill more holes at South Pond “B” Zone in Fall 2016.

 

Great Burnt Project Zones

 

Several advanced copper and gold targets on 14km mineralized trend

 

 

Great Burnt Resource Estimate

 

 

Great Burnt and South Pond