The Preview North deposit host the mineral resource estimate which is as follow:
Preview North – Indicated 41k oz. & Inferred 7k oz.
| Preview NORTH - Resource - 2025 | |||||
| Class | Au Cutoff | In Situ Tonnage and Grade | Au Metal | Stripping Ratio | |
| Tonnage | Au | ||||
| (gpt) | (tonnes) | (gpt) | (oz) | Waste / Mineral. | |
| Indicated | 0.2 | 1,020,000 | 1.26 | 41,369 | 5.9 |
| 0.25 | 933,000 | 1.36 | 40,774 | ||
| 0.5 | 613,000 | 1.88 | 37,066 | ||
| Inferred | 0.2 | 425,000 | 0.57 | 7,816 | |
| 0.25 | 366,000 | 0.63 | 7,386 | ||
| 0.5 | 161,000 | 0.96 | 4,962 | ||
Notes to the Resource Estimate Tables:
- The Mineral Resource Estimates was completed by Sue Bird, P.Eng. who is independent of the Company, with an effective date of November 6, 2025.
- The Mineral Resource Estimate for all four deposits have been confined by an open pit with “reasonable prospects of eventual economic extraction” using the following assumptions:
- Metal price of US$2,600/oz Au; /Payable metal of 99% for Au; /Offsite costs (TC/RC/Transport) for Au of US$5.80/oz;
- Pit slopes are 45 degrees; /Mining cost of mineralized material of CDN$2.56/t and CDN$2.40/t for waste, and;
- Processing costs of CDN$15.60/t with G&A costs of CDN$7.20/t. / Metallurgical recoveries are 90% for all deposits.
- Forex = 0.72 $US:$CDN /The NSR equation is: NSR (CDN$/t) = (Au*90%*CDN$114.68/g)
- The specific gravity for each deposit and lithologies or domains ranges from 2.40 to 2.91.
- Numbers may not add due to rounding.
Preview North Deposit—Orogenic Shear Hosted Gold
The Preview North Deposit is located approximately 2.6 km northeast of the Preview Southwest Deposit. Gold mineralization is associated with quartz-filled dilatant zones or veins within several sub-parallel structural shear zones. These zones are typically broad with poorly defined boundaries and highly variable shear intensity, with significant gold mineralization hosted in the most strongly deformed and sheared zones.
Preview SW & Preview North Deposits on the Contact Lake Gold Property
Gold mineralization at Preview North is hosted primarily within variably sheared metavolcanic units. Drilling has defined three main parallel structural zones/shears along which the main mineralized intercepts occur. The shear structures trend northeast and dip steeply to the northwest and have been defined along a strike length of 350 metres to a depth of up to 140 metres below surface. Preview North is thought to be located in a transpressional jog or bend in an overall transpressional shear system, where the shear bounds a complex internal system of anastomosing shears.
3D view of the 3 parallel mineralized zones at the Preview North Deposit
A total of 32 drill holes for 4,175 metres have been completed at the Preview North Deposit, with the most recent drilling in 2022.
Drill Hole PR13-163 highlights:
- 17.98 g/t Au over 5.71m from 10m depth
- 5.96 g/t Au over 5.66m from 19m depth
- 1.88 g/t Au over 21.26m from 29m depth