North Peak Resources is actively looking to acquire further assets that meet its key investment criteria of delivering low cost metals with near term production potential in the northern hemisphere.
The Company holds an option to acquire 100% interest in the Kenogami Lake Project and signed a non binding letter of intent for option on the Black Horse gold property in October 2021.
The Kenogami Lake Project
The Kenogami Lake Project is located in north-central Eby Township and in the southern part of adjacent Grenfell Township, approximately 15 km southwest of Kirkland Lake Ontario.
The central focus for gold potential on the property is associated with two significant structures, the Cadillac-Larder Lake Deformation Zone (CLLDZ), which has been traced onto the eastern extent of the property, and the Kirkland Lake Main Break (KLMB) which projects onto the property in the eastern bay of Kenogami Lake. All the Kirkland Lake deposits are associated with the KLMB and the major mining camps of Kirkland Lake, Larder Lake Cadillac, and Val d'Or are hosted by structures adjacent to and related to the CLLDZ.
The Black Horse Property
The Black Horse property is 2,733 acres of federal lands administered by the BLM and is located within the Snake Range, Eastern White Pine County, Nevada. The property is along U.S. Highway 50 and located 50 miles east of the town of Ely, Nevada and 11 miles Northwest of Baker, Nevada, and is 100% owned by Minex.
On October 14, 2021, North Peak Resources signed a non-binding letter of intent for option on the Black Horse gold property.
Historical inferred mineral resource estimates of 350,000 troy ounces of gold with a grade of 1.2 grams gold or 0.045 oz (using a base case cut off of 0.005 opt Au), plus 1,140 million oz of silver at 0.14 ounce per ton, was prepared for Minex in a technical report dated effective November 18, 2016, by Scott E. Wilson, C.P.G. (the “Technical Report”).
The Company is not treating these historical estimates as current mineral resources or mineral reserves and has not verified the historical resource estimates.
North Peak Resources believe that the Black Horse property which was last drilled in 1998 could provide a resource offering low-cost gold production. The company plans to design a new drill programme utilising modern exploration technology to verify resource and expand potential.
|Deposit Type||Ore bodies are in 2 quartz-calcite veins along bedding faults|
|Historic Resource||350,000 oz|
|Historic Drilling||316 drill holes|