Savant Lake Project

Opportunity

  • Large prospective land package covering 203.9 km2 of the Savant Lake Greenstone Belt
  • Numerous historic and recently found gold showings including multiple samples returning > 30g/t Au
  • Excellent Infrastructure with existing power, rail, and all-season road
  • Potential for 3 styles of gold mineralization
    • Iron formation hosted gold
    • Shear zone hosted gold
    • Volcanogenic Massive Sulfide
  • VTEM airborne geophysical program (925-line kilometres) completed over the property in 2016
    • 10 untested high priority conductors
    • Drilling in 2017 identified semi massive sulfide intersections coincident with conductive anomalies. Hydrothermal alteration associated with mineralization.
  • District scale potential
    • Highly prospective greenstone belt
    • Numerous gold showings
    • Minimal exploration done since the mid-80's
  • Option to earn 100% interest by paying vendors in cash and shares

Location

The Savant Lake gold project is situated approximately 240 km northwest of Thunder Bay, Ontario in the Savant Lake Greenstone Belt. The Property is accessible by all-weather roads (provincial highways 17 and 599) and is within 25 km of the Canadian National Railway's main line.
 

Overview and Geology

The Savant Lake gold project includes iron formation hosted gold occurrences within a very prospective mineral district in Ontario. The Savant Lake Property consists of 1,000 claim units covering 203.9 square kilometres, updated since the transition to online grid staking in April 2018. New Dimension stands to earn a 100% interest in the Savant Lake Property by paying the vendors in cash and shares.

The Property is situated within the Archean age Savant Lake Greenstone Belt and is underlain primarily by greywacke interbedded with cherty magnetite iron formation and mafic volcanic rocks. These rocks have been metamorphosed to upper greenschist (+/- amphibolite) facies and complexly folded such that the iron formation horizons are repeated. There is a cumulative strike length of 60 kilometres of prospective iron formation interpreted from geophysics. The property is traversed by two ENE trending shear zones. Physiography is typical of the Canadian Shield with gentle, tree-covered terrain interspersed with muskeg and lakes.

Magnetic data indicates that strong folding of the iron formation has occurred resulting in the development of multiple steeply plunging fold hinges. Examples of fold hinges hosting mineralization include the past producing Lupin and Homestake mines. The setting of the Savant Lake gold occurrences also shows many similarities to several other significant iron formation hosted gold deposits including Goldcorp's Mussewhite Mine, Agnico Eagle's Meadowbank Mine and Agnico's recently discovered Amaruq deposit.

The Savant Lake Property, which had not seen any significant exploration since the early 1980's, hosts seven known gold occurrences that have yielded gold values ranging from below detection limit (BDL; <0.1g/t Au) to 138.87 g/t in recent prospecting. Of the seven historical gold showings on the property, all but one is spatially related to oxide facies iron formation. Gold mineralization is similar among all the showings, being hosted in mixed iron formation and adjacent pyritic meta-sediments with varying amounts of quartz veining and carbonate alteration.

Upcoming Work Program

In 2018 prospecting and mapping will be completed on high priority areas in the Savant Lake Project. This work will focus on untested gold occurrences coincident with iron formation and conductive anomalies identified in the 2016 VTEM survey. The goal of this program will be to identify additional surface mineralization and refine existing drill targets.

As well as the conductive targets identified for follow up, significant gold mineralization has been identified in non-conductive areas which highlights the importance of testing Au showings in iron formation with no EM response. These gold-in-rock geochemical anomalies occur at fold noses where iron-formation thicknesses normally increase with resultant improved ground conditions for the potential introduction of mineralizing solutions. The drill testing of these, along with additional detailed geological mapping and surface geochemistry will be key areas to follow-up on. The Company believes that many of the Project's best targets remain untested.

Work Performed

In 2017 New Dimension completed an 8-hole, 1626 m diamond drill program on the property to test mineralization associated with conductive targets generated from the 2016 airborne VTEM survey. Significant sulfide mineralization was intersected in 6 of the 8 drill holes. Additionally, alteration observed with the sulfide mineralization indicates hydrothermal origin.

New Dimension carried out a 925-line kilometre VTEM airborne geophysical program over the Property in 2016. The airborne survey successfully identified 18 high priority anomalies and resulted in a significant expansion of the claims.

A mapping and prospecting campaign completed in 2016 successfully advanced the understanding of multiple target types on the project including iron-formation hosted gold that was the initial project target priority. In addition, increased focus is being given to gold-bearing volcanogenic massive sulphides ("VMS") targets and shear related mineralization. Prospecting discovered the "Big Sandy" occurrence and returned gold values ranging from BDL to a maximum of 3.6 g/t from grab samples collected from variably sheared mafic volcanic rocks over an area measuring 300 metres by 500 metres. This shear zone type of mineralization was not previously observed on the property and significantly expands the discovery potential on the project. Further prospecting at the Horseshoe target yielded additional high-grade gold mineralization, including two samples yielding 38.8 g/t and 14.3 g/t, extending the strike potential to over 500 metres.

Historic Work

In 2014, a total of 57 samples were taken by the Property vendors over the historical showings with values ranging from BDL to 138.87 g/t gold. In total, 35 samples reported grades exceeding 1.0 g/t gold including 11 samples exceeding 20 g/t gold. The known showings are locally covered by shallow overburden, but more than 90% of the interpreted iron formation horizons do not outcrop.

During the 1980's two of the gold showings were tested by shallow drilling which returned values of 0.3 to 0.5 oz/t gold (8.5 g/t to 14.17 g/t) over narrow widths of 1.0 to 1.4 feet (0.3 metres to 0.43 metres). Historical stripped areas over the western drilled area exposed mixed oxide facies iron formation and clastic meta-sediments, which are host to pyrite and arsenopyrite mineralization as well as quartz veining and ankerite alteration.

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