TSXV: MINK

Warren Project

Overview

Mink’s Warren Project consists of series of contiguous patented mining claims and claim cell groups designated as the Warren Patents, Warren East, Warren North and Warren Northeast (NE). The Warren Project, covers 1,130 hectares of prospective geology, in Whitesides Township, located approximately 35 road km west of the City of Timmins. (See Figure 1 – Location Map & Figure 2 – Warren Project Holdings)

Mink has the option to earn a 100% interest in the Warren Patents subject to a 1% NSR.

All other claims are 100% controlled by Mink, with no NSRs.

Mink purchased 0.5% of the 1.5%NSR on the Warren Patents from a prospector.

The Warren NE claims are subject to a 2% NSR.

Terms of Warren Patent Option:

  • 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. (Completed)
  • 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.
  • Mink has completed the first phase of work on the Warren Patents with the completion of 507 meters of drilling and incurred just over $150,000 in exploration expenditures. The balance will be completed following the December 2024 follow up drill program.

PROJECT HIGHLIGHTS

  • Mink’s geologists have completed an in-depth study of all available historical data and recent geophysical survey data.
  • The Warren Project is drill ready and a second drill program is expected to begin in December 2024.
  • The Warren Project complements Mink’s Montcalm project due to the distinctly similar, prospective geological environments with potential to host magmatic nickel copper sulphide deposits similar to the Montcalm Mine.
  • Much of the past historical work at the Warren Patents was focused on the A and B Zones. 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.
  • Mink’s phase 1 drilling on the A zone demonstrated broad zones of low-grade Ni and Cu along with a semi-massive sulphide intercept which returned 0.48% Ni, 0.12% Cu and 0.07% Co.
  • Limited exploration has been conducted on the C Zone. Mink’s recent analysis suggests the C Zone could be more properly identified as the “C Zone Trend”. Recent reprocessing of induced polarization (IP) data (See Figures 3 and 4) demonstrates the presence of a 1.6 km long IP anomaly with low resistivity and high chargeability responses across width of 100 meters on Warren Patents.
  • The extensive IP anomaly on the Warren Patents is associated with multiple occurrences (See Table 1); these occurrences are shown in Figures 3 and 4 and are designated A, B, C, Shaft, SW, D, and North Zones. The December 2024 drill program will target IP responses associated with the Shaft, SW, and North Zone.
  • The Warren NE acquisition hosts two underexplored zones of copper mineralization in a volcanogenic massive sulphide (VMS) environment. This is a very different geological setting than the magmatic sulphide environment known to most of the nickel copper occurrences on the Warren Project. The Timmins Mining Camp hosts a number of VMS deposits including Glencore’s Kidd Mine. A shallow drill hole on the Warren NE intersected a VMS environment with two mineralized zones designated the M1 and M2 Zones. The M1 Zone returned 0.174% Cu over 13 meters (including 0.36% Cu over 3.05 m.) and the M2 Zone returned 0.84% Cu over 4.3 meters (including 1.2% Cu over 2.4 m. and 3.62% Cu over 0.5 m.)

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) and Morgain Minerals Drill Logs (K. Lapierre, 1996)

PROJECT GEOLOGY

  • 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).
  • 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.
  • The Warren NE geology suggests the presence a volcanic inlier present within the KGC and the extent of this package is unknown as it is not noted on government maps. Limited drill hole data notes the presence of an altered intercalated sequence of felsic and mafic lithology which hosts the stringer and semi-massive sulphide mineralization typical of a VMS environment.