The Chebistuan Project is located 30 kilometers west of the town of Chibougamau, Quebec: the largest town in Nord-du-Quebec, which provides excellent infrastructure and an experienced local workforce for exploration and mining activities. Project access is excellent with provincial highways flanking the southern border of the property along with an extensive logging road network and high-voltage power transmission lines crossing the property.

The Chebistuan Project is located in the Abitibi Greenstone Belt, which is comprised of highly deformed packages of Archean volcanic rocks, siliclastic sedimentary basins and coeval intrusive rocks. Deformation along major corridors began in the northern Abitibi with the docking of the Opatica terrrane and progressively verged southward forming major gold deposits between 2700 Ma at Detour Lake in the north to < 2670 Ma along the Cadillac – Larder Lake & Porcupine – Destor deposits in the south. The property covers a major deformation zone which juxtaposes two distinct volcanic assemblages, which is a similar geological relationship to the Detour Lake deposit. First order gold-controlling structures are often located on the margins of clastic sedimentary basins in close proximity to volcanic rocks. The Chebistuan property covers 140kms of these gold prospective contacts.

The Project is located directly west of the Chibougamau and Chapais mining camps (6.5 Moz Au; 2.7 Blbs Cu of historic production). The Chibougamau camp has historically been mined and explored for Cu-Au mineralisation and the recent discovery of the Nelligan deposit (IAMGOLD – Vanstar Resources) highlights the regional potential for orogenic gold mineralisation which had been overlooked in the past.

The most significant mineralisation discovered to date on the Chebistuan Project is an intrusion-related gold system in the Deux Orignaux target area. Au mineralisation is associated with disseminated pyrite and trace sphalerite within a pervasively potassic and albite altered (Kspar-albite-quartz-hematite-carbonate-sericite assemblage) porphyritic syenite intrusion. Geophysically, the mineralised intrusion at Deux Orignaux is defined by coincident resistivity, chargeability and magnetic anomalies, and occurs along the regional clastic sedimentary basin – volcanic rock contact marked by Timiskaming type polymictic conglomerates. There is strong potential to extend known mineralisation to the east and at depth where the geophysical signature remains open, as well as the potential for discovering additional mineralised intrusions, interpreted from geophysics.

Alkaline, intrusive-hosted disseminated sulphide gold systems such as the one intersected at the Deux Orignaux target area represent a significant deposit type across the Abitibi Greenstone Belt including the Young-Davidson deposit along the Larder Lake-Cadillac fault zone, and the Duparquet deposit along the Destor-Porcupine fault zone. Many of these systems have potential for higher grade mineralisation such as the Lac Bachelor-Moroy deposit, located approximately 75km to the southwest of the Deux Orignaux discovery.

Spatial analysis of compiled historical exploration data identified the Chebistuan Project as a region of very low exploration maturity when compared to the other areas within the Abitibi Greenstone Belt. The 372 drill holes located within the 158,635 hectare project area were predominantly targeting geophysical anomalies potentially related to copper-gold systems similar to those of the Chibougamau Cu-Au Mining Camp. Very little systematic regional exploration has been conducted on the property. Provincial regional soil sampling during the 1980’s focused on sampling O-Ah horizon and lacked adequate detection limits to target low levels of Au in glacial sediment. Stream sediment sampling during the 1980’s was restricted to the eastern portion of the property with a focus on base metal exploration, lacking analysis for Au or other precious metals.

The Chebistuan Project was acquired by Kenorland through map staking in December 2019 and was optioned to Newmont Corporation July, 2020. During the summer of 2020 Kenorland collected approximately 4500 B-horizon soils (till substrate) on a 1250m x 200m grid covering the entire property (Phase 1). The Phase 2 exploration campaign consisted of a detailed geochemical survey of approximately 2,100 infill B-horizon soil samples (glacial till substrate) along with 225 C-horizon till samples analyzed for gold grain counts. Sampling was conducted within 20 areas of interest (AOIs), covering broad multi-element geochemical anomalies identified during Phase 1.

The results of Phase 1 and Phase 2 outlined multiple gold and pathfinder element anomalies including the Deux Orignaux discovery area. A prospecting campaign in the fall of 2021 resulted in the collection of 204 rock and boulder samples in the Deux Orignaux AOI to add geological context of the soil anomalism. In addition, a detailed airborne magnetics survey was completed covering three target areas, and in Q1 2022 an induced polarization (IP) survey was completed in the Deux Orignaux AOI ahead of drill targeting.

The diamond drill program was completed at the Deux Orignaux target area in Q1 of 2023 resulted in the discovery of an alkaline, intrusive-hosted disseminated sulphide gold system. This target area was defined by gold and pathfinder element anomalism in glacial overburden identified following the two phases of geochemical sampling. The maiden drill program included 2,170m of diamond drilling over seven holes testing across targets defined by the detailed magnetic and induced polarization (IP) surveys.