TSXV: MINK

Warren Project

Overview

MINK has the option to earn a 100% interest, subject to a 1.5% NSR, in the Warren copper nickel project. The Warren project consists of 14 patented mining claims covering 251 hectares of land, located in Whitesides Township, approximately 35 km west of Timmins, Ontario (see maps).

To commence the option, MINK must

  • Issue to US Copper Corp., 250,000 MINK common shares and 250,000 MINK three-year common share purchase warrants exercisable at a price of $0.25 on closing (expected on or around July 4, 2023), and
  • To maintain and ultimately exercise the option MINK must incur $300,000 in exploration expenditures, and issue an additional 750,000 MINK common shares within 21 months from the closing date.

PROJECT HIGHLIGHTS

  • The Warren Project is drill ready. Mink’s geologists have completed an in-depth study of all available historical data and recent geophysical survey data. Some limited ground truthing to update GIS data prior to selecting drill targets will occur with a diamond drill program to follow.
  • The Warren Project complements Mink’s key Montcalm project due to the distinctly similar, prospective geological environments as well as the presence of significant Cu Ni zones at Warren.
  • Three distinct mineralized copper nickel zones have been identified and are designated Zones A, B, and C, outlined by both surface exploration and diamond drilling, focused mainly on Zones A and B over a strike length of ~600 meters.
  • Historical work in the mid 1950’s included two B-Zone bulk samples by Maralgo Mines Ltd. Bulk Sample 1 returned 0.21% Cu, 0.96% Ni, 0.11% Co and 0.10% Zn, and Bulk Sample 2 returned 2.83% Cu, 0.58% Ni, 0.10 Co and 0.13 Zn.
  • A resource* calculation of 385,000 tons of 1% Cu + Ni on the B Zone was outlined by Jade Oil & Gas. They drilled 23 holes to test Zones A and B in the mid 1950’s. Highlights include 2.5% Cu+Ni over 7.6 m and 2.8% Cu+Ni over 8.2 meters. *The resource calculation is historical in nature and is not NI43-101 compliant; it is not to be relied upon and is reported as a historical statement only.
  • Geophysical data from magnetics, horizontal loop EM (HLEM) and induced polarization (IP) suggest a potential strike length of A and B Zones of approximately 800 meters.
  • Limited exploration has been conducted on the C Zone other than a historical shaft.  A recent (2021) grab sample in the shaft area muck pile by W. Hawkins, P. Eng returned 3.7 ppm Ag, 3940 ppm Cu, 1670 ppm Ni and 223 ppm Co. Geophysical surveys (magnetic, HLEM, and IP) support a potential strike length of C Zone of 1 kilometer.

References: Technical Report for Western Troy Capital Resources on the Warren Property (W. Hawkins P. Eng, 2021) and Maxmin, Magnetometer and VLF Surveys Evaluation Report, Whitesides and Massey Twp. Claims (C. Mackenzie Consulting Geologist, 1990)

  • The Warren property is hosted within the Kamiskotia Gabbro Complex (KGC) and it is thought to be broadly equivalent to the Montcalm Gabbro Complex (MGC) but separated by a granitic arch.  The MGC hosts the former Montcalm Mine which produced approximately 3.93 million tonnes grading 1.25% Ni, 0.67% Cu and 0.05% Co (OGS, Atkinson, B., 2010) (See maps).
  • Gabbro complexes such as MGC and KGC are known to be prospective for magmatic nickel copper sulphide deposition as demonstrated by the Montcalm Mine located within the MGC. The Warren Project complements Mink’s Montcalm property due to the distinctly similar prospective geological environments found in the MGC and the KGC, as well as the presence of significant Cu Ni zones on the Warren Project.
  • As highlighted above, the Warren Project has had a sporadic exploration history since the late 1920’s to present day and a number of promising historical mineralized Cu Ni zones were outlined. The majority of the exploration completed to date on the property was completed in an area representing a very minimal portion of the property and completed well over 60 years ago. More recent geophysical surveys from the early 1990’s and 2008-2009 outlined a series of untested targets along strike from known mineralization and/or new targets proximal to known mineralization. These targets are particularly evident in the accompanying magnetic and IP compilation map shown in maps. As a result of this geophysical data being available, the Warren Project is drill ready with some minimal ground truthing of grids and occurrences.