Titan Gold Property

ONTARIO

Overview

The Titan Gold Property consists of 37 mining claims totalling approximately 2,312.25 hectares land in Klotz Lake Area, Thunder Bay Mining District of Northwestern Ontario, Canada. Soldera Mining Corp. has the option to own 100 % of the Claims by making cash payments, issuing shares, and carrying out exploration work.

The Titan showing was discovered by Goldstream Resources in the fall of 2011. Here, the highly deformed and quartz veined volcanic/gabbro rocks contain visible gold with initial grab samples returning gold assays of 11.2 g/t Au, 5.9 g/t Au and 3.4 g/t Au. The Tomorrow Lake Showing is located proximal to the contact between mafic volcanic/gabbro rocks and a large diorite stock. During 1983, exploration work, the best results were in drill hole BO-83-34 which returned 7.91 g/t over 5.12 m.

Historical work on the Property dates back to the 1930’s when claims were staked, and later Gold Showing was discovered by L. Morrow who reportedly collected a 1,833 kg sample of sheared stock -worked volcanic rocks from a pit returned 31.73 g/t Au. L. Morrow in 1958 intersected a mineralized zone 5ft wide averaging 0.17 oz/t Au (5.3 g/t) over 1.5m. The same structure was again tested by Getty Resources in 1986 which returned wide low grade results with several narrow high grade intercepts (e.g. 75.6 g/t Au over 0.5m and 20.2 g/t Au over 0.5m). Of most significance is that these high grade intercepts were located within a highly carbonate altered chalcopyrite(3%)-pyrrhotite(5%) portion at the end of the hole with a final assay of 223.5-224m (EOH) returning 0.24 oz/t Au (7.5 g/t over 0.5m). A total of around seventy-two (72) holes totaling 5,666 m were drilled between 1958 and 2004 on the Property.

The nearest town to the property is Longlac situated 55 km west of the Property and is part of the Municipality of Greenstone. Geraldton is the largest populated town in the region located 30 km west of Longlac and has an airport, hospital, retail, and banking facilities.

Quality Assurance / Quality Control

Soldera has not carried out any exploration on the Titan Gold Property. All results of exploration discussed herein were carried out before Soldera acquired its interest in the Titan Gold Property and are therefore historical estimates. A Qualified Person has not verified the data disclosed, through sampling, analytical, nor test data. The information was obtained from assessment reports submitted to the Ontario government and a variety of other sources, including reports prepared for previous owners, cited in the Technical Report on the Titan Gold Property Klotz Lake Area, NTS Map 42F Thunder Bay Mining District Northwestern Ontario, Canada, prepared by Martin Ethier, P.Geo, dated June 12, 2020. A Qualified Person has not completed sufficient work to verify the historical information on the Titan Gold Property, particularly in regard to the historical drill results. The information provides an indication of the exploration potential of the Titan Gold Property but may not be representative of actual results. Soldera intends to use the historical exploration data collected on the Property as the basis for a follow-up work program.

The Property has good road access, located just south of Highway 11. Canadian National Railway (CN Rail) has a northeastern corridor connecting Longlac with Toronto, Thunder Bay and Winnipeg. A high-tension powerline runs along highway 11 just north of the Property. Natural gas is also connected to Longlac. There are several lakes, rivers, and creeks in and around the Property area which can be a source of water for exploration work. The Property size is good enough for future exploration and mining operations.

The town of Thunder Bay, located about 365 kilometres from the Property, is the largest city in Northwestern Ontario, serving as a regional commercial centre. and has most of the required supplies for exploration work. Many junior exploration and mining companies are based in Thunder Bay, and thus the city is a source of skilled mining labour.

Titan Location Map

Titan Claim Map

Highlights

The best intersections from the 2012 drilling at Titan Showing include:

  • 11.16 g Au/t over a core length of 3.0 m from 122.9 m to 125.9 m, in drill hole KL 12-01, including 61.80 g Au/t over 0.5 (from 125.4 m to 125.9 m);
  • a second zone of 2.95 g Au/t over core length of 4.0 m from 195.3 m to 199.3 m including 7.38 g/t over 0.5 m (from 195.3 m to 195.8 m) and 7.60 g/t over 0.6 m (from 197.5 m to 198.1 m) all hosted in sheared/silicified gabbro. 
  • KL-12-02b, drilled beneath KL 12-01, encountered 2.22 g Au/t over 1.3 m from 254.3-254.7 m.
  • Drill hole KL-120-08 approximately 80 m to the east encountered 43.78 g Au/t over 2.5 m from 48.0-50.5 m including visible gold over a 0.4 m section from 49.4-49.8 m assaying 271.00 g Au/t.

The Property Vendor carried out exploration work on the Property from November 2016 to May 2020 which included prospecting, geological mapping, trenching, channel sampling, ground geophysical surveys and assaying. During this work, a total of 27 samples were taken and 14-line kilometers area was mapped. Additionally, a total area of 200 square meter was excavated through trenching to expose bedrock and 5 kilometers of trail were made to improve access to the Property.

The results of 2016 channel sampling indicated gold values in the range of 0.011 g/t to 51.1 g/t (1.8 ounces per ton). One channel sample came back with 5.37 g/t gold over one-meter length. The results of prospecting and geological work sampling of 2019-20 work indicated lower values of gold with only one sample indicated 2.84 g/t.

A VLF and ground magnetic survey was completed on the Iron Grid from January 5-15, 2020 with a total 14 line-km at 50m line spacing and 25m stations. Similarly, a second magnetic / VLF was completed on the Morrow Grid from May 1-10, 2020 with a total 14 line-km at 50m line spacing and 25m stations. The results of survey have shown that the mineralization trend which was explored at Morrow Lake through drilling and trenching can further extends to the east along strike for approximately two kilometres.

History

Historical work on the Property dates back to the 1930’s when the L. Morrow staked the claims, and later Gold Showing was discovered by L. Morrow who reportedly collected a 1,833 kg bulk sample of sheared stockworked volcanic rocks from a pit located at the northeast end of Tomorrow Lake in 1951. 

  • The sample reportedly returned 31.73 g/t Au. A 15-drill hole program was completed on the Property near Morrow Lake area (Figure 5). 
  • L. Morrow in 1958 intersected a mineralized zone 5ft wide averaging 0.17 oz/t Au (5.3 g/t over 1.5m). 
  • The same structure was again tested by Getty Resources in 1986 which intersected mineralized tuffaceous units returning wide low grade results with several narrow high grade intercepts (e.g. 75.6 g/t Au over 0.5m and 20.2 g/t Au over 0.5m). 
  • Of most significance is that these high grade intercepts were located within a highly carbonate altered chalcopyrite(3%)-pyrrhotite(5%) portion at the end of the hole with a final assay of 223.5-224m (EOH) returning 0.24 oz/t Au (7.5 g/t over 0.5m) (Figures 5-9, Table 4). 
  • Between 1993 and 1996, Swereda has completed Beep Mat surveys over the property outlining magnetic anomalies. These areas were subsequently trenched/stripped and blasted. (Source AFRI 2-57590-10).

Historical Work Summary 1958-2004

YearWork CompletedCompanyReport (AFRI) NumberComments
1958Diamond DrillingL. Morrow42F13SW004415 drill holes (415m), one of which was drilled on SE corner of legacy claim 4266307 (hole 7). Hole 7 reported 5.0 ft at 0.17 oz/t Au (AFRI #: 42F13SW0036)
1982Line cutting, Ground Magnetics, prospectingBanque-Or Inc.42F13SW00365.5 miles of line cut with line separations of 100 and 400 ft, pickets at 50 ft. Total of 4.1 miles were surveyed by ground magnetics.
1985Ground Mag-EMGolden Tiger42F13SW0013Survey covers NW portion of legacy claim 4266307; 400 ft line spacing, 100 ft picket spacing.
1986Diamond DrillingGetty Resources Ltd.42F13SW00318 drill holes (1422m), only hole KL-86-23(224m) was completed on legacy claim 4266307. Intersected wide, but low-grade mineralized lapilli tuffs and narrow high-grade carbonate altered portions (e.g. 75.6 g/t Au over 0.5m and 20.2 g/t Au over 0.5m). Hole was ended in best in mineralized portion of hole.
1993Beep Mat Survey, Soil (20) and Rock
samples (16),
M.
Swereda
42F13SW2001,
42F13SW0003,
42F13SW0005
Soil: up to 249 ppb Au, Mo anomaly(s). Rock: anomalous Cu. Beep Mat anomalies were trenched and local shear zones
Trenching
(600m2)
uncovered (slightly elevated Au
results)
1995Hand strippingM.
Swereda
42F13SW0015Best sample 0.09 oz/t Au,
elevated Cu
1995Beep Mat surveyS. Shields42F13SW0011Completed over the frozen Tomorrow Lake, outlined two
anomalies.
1996BlastingM.
Swereda
42F13SW0023No significant Au results
2004DrillingClark42F13SW2003Only hole KL-04-02 on claim
4266331. Anomalous results returned (i.e. 0.77 g/t over 1m)

A total of around seventy-two (72) holes totaling 5,666 m were drilled between 1958 and 2004 on the Property. A majority of these holes tested gold mineralization hosted within sheared and quartz stockwork mineralized volcanic/gabbro intrusive, amphibolite and sheared diorite rocks in contact with or in close proximity to a large diorite intrusive body or stock. 

Visible gold was observed in drill core on occasion. Overall, most of the drilling tested gold mineralization to a vertical depth of 50 m with some holes penetrating to around the 150 m depth limit (later follow-up drill programs).

Highlights of historical drill intersections: Tomorrow Lake Showing

COMPANYHOLE No.FROM (m)TO (m)LENGTH (m)Au (g/t)
P. Martin and J. Lill (1980)80-128.9635.376.446.63
80-235.0635.980.9169.6
80-322.5623.871.316.86
80-510.0614.884.824.8
Exploration Banqu-Or Inc. (1983)BO-83-0255.4856.090.615.49
BO-83-062.443.961.522.18
BO-83-0925.7627.131.375.17
BO-83-1127.630.032.433.64
BO-83-1237.6542.314.663.33
BO-83-1341.9243.451.534.97
BO-83-1635.9741.155.183.53
BO-83-1840.5542.992.443.38
BO-83-2036.1336.620.492.23
BO-83-2134.7636.281.523.33
BO-83-2317.222.475.273.5
BO-83-2447.7151.523.812.91
BO-83-2614.7616.371.612.14
BO-83-279.6314.244.62.26
BO-83-2933.8434.450.615.14
BO-83-3351.7766.0414.272.73
BO-83-3469.374.425.127.91
Getty Mines Limited (1983)KL-83-0126.5281.52.83
KL-83-03106.9107.912.73
KL-83-09107.51135.53.52
KL-83-10144.51516.52.28
KL-04-081414.60.63.11

(Clark Exploration Consulting) Not on the Property
KL-04-0973.578.44.92.93

(Source: 20013940 Goldstream Drilling Assessment Report 2012. Highlighted drill holes are not on the Titan Property)

Highlights of 2011 Titan Showing Channel Sampling Program

Titan TrenchSample No.Au g/tAg ppmLength (m)Host Rock
Trench A (IOA)C605086.241.20.3Gabbro
C605173.892.80.67Quartz Veined Gabbro
C6052712.314.20.49Quartz Veined Gabbro
C6057531.11.60.37Quartz Vein
C6057710.93.40.39Quartz Vein
C605914.562.90.44Quartz Vein
C606001.74.20.24Gabbro
C6163414.220.60.58Quartz Veined Gabbro
Trench C (IOC)C558091.510.30.35Gabbro
C558101.010.70.61Gabbro
C5581625.32.20.28Quartz Veined Gabbro
C558272.120.40.31Quartz Vein
C558351.190.60.43Gabbro

2012 Titan Showing Drill Results Highlights

Hole IDFrom (m)To (m)g/t Au / core lengthComments
KL-12-01122.9125.911.16/3.0mmoderately sheared zone within medium-coarse grained gabbro; strong biotite + chlorite + amphibole alteration with weak to moderate carbonate + silica alteration; 10-40% quartz-carbonate stockwork throughout interval; typically 5% pyrite disseminations with up to 10% pyrite disseminations and <=1% pyrrhotite;
mineralization is typically concentrated at wallrock/stockwork contacts; main Titan shear zone(?)
including125.4125.961.8/0.5mmoderately sheared mafic to gabbroic protolith; 10% qtcsw;
<=5% pyrite disseminations and <=1% pyrrhotite; hostrock is strongly biotite + chlorite + amphibole altered with moderate silica flooding; main Titan shear zone(?)
KL-12-01195.3199.32.95/4.0mmoderately to strongly sheared zone within gabbro; strong biotite
+ chlorite + amphibole alteration with weak to strong silica flooding; 45 - 65% quartz-carbonate stockwork throughout interval; 2 - 15% pyrite disseminations +/- seams; <=5%
pyrrhotite mineralized as fracture-fill
including195.3195.87.38/0.5mstrongly sheared zone within a gabbro; gabbro is strongly silicified + amphibole + chlorite + biotite altered gabbro with 50- 65% quartz-carbonate stockwork; 7% pyrite dissems and trace pyrrhotite
and197.5198.17.60/0.6mstrongly silicified zone with weak chlorite + amphibole + biotite alteration; 70-80% quartz-carbonate stockwork; hostrock contains 15% pyrite with 5% pyrrhotite;
KL-12-02B42.743.21.33/0.5msheared gabbroic host; hostrock is strongly biotite altered with weak silica flooding; weak to moderate magnetic signature; 10% quartz carbonate veins; 7% pyrite and 1% pyrrhotite northern shear zone (north of main zone)
253.4254.72.22/1.3mmoderate to strong shear zone within moderate amphibole + biotite + silicified gabbro with weak to moderate magnetic signature; 15% quartz-carbonate stockwork 2% pyrite disseminations; shear zone may be fault terminated by a northwesterly striking fault
KL-12-03BNo significant assays
KL-12-04101.2102.31.37/1.1msheared mafic crystal tuff to gabbro host; strongly amphibole with moderate chlorite + biotite altered; 3% quartz-carbonate veins; 2% pyrite dissems +/- pyrrhotite: southern shear zone (south of main zone)
KL-12-05273.1273.91.30/0.8mwkly to moderately sheared zone within fine grained to medium grained gabbro; moderate to strong amphibole + biotite alteration with wk to mod chl + sil; locally wk magnetic signature that increases with shear; 2-4% qtcsw with up to 20% carbonate stringers; 1-2% py assoc with stringers, 1-2% po; potential continuation of the northern zone but may also fault
terminate
275.4275.81.84/0.4mstrongly sheared zone within a gabbro, augens evident; gabbro is strongly biotite altered with 70-80% carbonate stringers +/- quartz; 2-3% very fine-grained pyrite dissems +/- pyrrhotite
KL-12-06No significant assays
KL-12-0737.337.61.99/0.3mweak shear zone within medium to coarse grained gabbro; moderate biotite + chlorite + amphibole alteration; 2-3% quartz- carbonate stockwork; 2% pyrite disseminations associated with stockwork; potential extension of the southern zone
KL-12-0815.423.90.45/9.9mmoderately sheared zone within fine grained gabbro; moderate amphibole + silica alteration + mod to strong biotite; 5-10% quartz-carbonate stockwork with 25-80% qtcsw locally; 1-2% py dissems in hostrock; main Titan shear zone (?)
4850.543.78/2.5mthis mineralized zone is hosted at the contact of a mafic massive flow and a fine to medium grained gabbro; both units are moderately biotite + chlorite + silica altered; <=5% qtcsw; wk to mod mag; ~2% po dissems assoc w/ biotite; 1-2% py; main Titan
shear zone (?)
including49.449.8271.00/0.4mVisible gold; fine to medium grained gabbro; mod amph + chl + bio wk to mod sil; <=5% qtcsw; wk to mod mag; ~2% po dissems assoc w/ biotite; 1-2% py; main Titan shear zone (?)
KL-12-09115121.50.65/6.5mmoderate to strong shear hosted by dark grey fine to medium grained gabbro with moderate to strong biotite + amphibole alteration; , str amp, wk sil, abundant fracture controlled cb alteration (10%), ~5% quartz carbonate veins increased in first 1m of section, ~2% py locally up to 5%; extension of northern zone (?), extension of main Titan zone (?)

Mineralization

Gold mineralization is dominantly hosted within shear zone structures associated which splays off the regional Klob Lake fault structure. To date, the highest gold assays, in the multiple g/t Au range, have been returned from quartz and quartz- carbonate veined gabbro intrusive rocks and to a lesser extent in granodiorite and mafic volcanic rocks. 

The Titan Showing

The Titan showing was discovered by Goldstream in the fall of 2011. Here, the highly deformed and quartz veined volcanic/gabbro rocks contain visible gold with initial grab samples returning gold assays of 11.2 g/t Au, 5.9 g/t Au and 3.4 g/t Au. The showing consists of sporadic outcrop exposures covering an area measuring roughly 60 m north-south by 20 m east-west. 

Tomorrow Lake Showing

The Tomorrow Lake Showing is located proximal to the contact between mafic volcanic/gabbro rocks and a large diorite stock. In 1983, Banque Or’s best drill hole BO-83-34 returned 7.91 g/t over 5.12 m. The hostrock is 5% quartz stockwork veined. Shearing penetrates all rock types. The showing is bounded on the east and west ends by northeasterly fault structures

Geology

In the Property area, the Titan Gold Showing is located approximately 300 m north of the regional east-west striking Klob Lake fault at the intersection of a set of northeasterly and northwesterly striking faults (Figures 15-18). The Klob structure is inferred to continue southeast around Morrow and Tomorrow Lakes and along the northern contact between a synvolcanic diorite body and gabbro/mafic volcanic rocks. Northwest trending faults dominate the Titan showing area and may offset rock units towards the south by 150 m to 700 m.

Quality Assurance / Quality Control

The technical information within the Titan Property information of this website has been reviewed and approved by Martin Ethier P. Geo. an independent consultant to the Company and a qualified person under National Instrument 43-101.

REVIEW NI 43-101 Technical Report – HERE

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