North Peak has targeted acquiring assets that meet its key investment criteria of seeking to acquire metal producing assets whose costs of acquisition, development, and production are all significantly lower than the industry average with near term production potential in the northern hemisphere.
The Company has signed a definitive agreement to acquire the Prospect Mountain Mine Complex in Nevada, USA.
* The Company can give no assurances at this time that neither the Kenogami Lake Project nor the Prospect Mountain Mine Complex will fulfill the Company’s business development goals described above.
Prospect Mountain Mine Complex
In May 2023, the Company acquired an 80% stake in the Prospect Mountain Mine complex and has the right to acquire the remaining 20% interest.
The Property lies in the Battle Mountain Eureka trend, in an area known as the Southern Eureka Gold Belt, where three styles of mineralization have been identified, Au only Carlin style mineralization, Carbonate Replacement mineralization (CRD) and carbonate hosted Porphyry Related Skarn lead, zinc and gold mineralization associated with cretaceous intrusions. At the Property, the CRD mineralization is heavily oxidized to depths of at least 610m (2000ft) below the top of the ridge line.
A Plan of Operations is in place which covers part of the Property (totalling 81 acres) and entitles an operator to pursue surface exploration, underground mining of up to 365,000 tons per annum and certain infrastructural works. It includes a permit to extract water from a well and to build water containment facilities.
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.
Mr. Mike Sutton, P.Geo., a Director of North Peak Resources, is the Qualified Person (as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects) who reviewed and approved the foregoing scientific and technical disclosure on this webpage on behalf of the Company. The Qualified Person has not reviewed the mineral tenure, nor independently verified the legal status and ownership of the properties referenced above or any underlying property agreements. The Technical Reports that can be downloaded above were authored by other Qualified Persons and those Technical Reports should be reviewed by a reader for information about those Qualified Persons and the work they completed in respect of those Technical Reports.