Mitchi Project
Overview: The Mitchi property is located 10 km west of the Mitchinamecus reservoir and 100 km north of the town of Mont-Laurier. It is part of the Mitchi-Wabash mineralized district and spans over 250 km2. Situated in the northwestern portion of the central metasedimentary belt of the Grenville geological province, the Mitchi project hosts a copper-silver sediment-hosted stratiform copper type deposit (‘SSC’) modeled after the significant copper-cobalt deposits in the DRC.Copper sulphide mineralization is generally found within olivine marble and diopside gneiss sedimentary horizons. In the western part, it exhibits characteristics more akin to a porphyritic system, Iron Oxide Copper-Gold (IOCG) deposit, and/or a ‘skarn’ type deposit. Osisko Mining Inc. (“Osisko”) holds a 2% royalty on net smelter returns (NSR) from 27 claims located outside the sedimentary basin.
Mineral Resource Estimate: A maiden resource estimate (MRE) was independently conducted by InnovExplo Inc. on the Sherlock zone of the Mitchi property. The estimated measured and indicated resources for the Sherlock zone are approximately 2.99 million tonnes at a grade of 0.4% copper and 4 g/t silver. These resources are confined to a shallow open pit and are based on a cut-off grade of 0.2% copper. The estimation process used data from 66 drill holes, covering a total of 10,150 meters, which were completed between 2017 and 2022. The mineral resource estimate confirms the potential of a hub-and-spoke model for the Mitchi project.
Mitchi Project | Mineral Resources | Tonnes | Copper (%) | Silver (g/t) | Lbs of Copper | Ounces of Silver |
Measured | 6,000 | 0.47 | 2.4 | 57,200 | 400 | |
Sherlock | Indicated | 2,983,000 | 0.40 | 4.0 | 26,305,300 | 385,500 |
Measured + Indicated | 2,989,000 | 0.40 | 4.0 | 26,362,500 | 385,900 | |
Inferred | 85,000 | 0.35 | 3.8 | 653,400 | 10,200 |
*Results of the 2023 Mineral Resources Estimate.
Location and Infrastructure: The property is accessible via a well-developed network of forestry roads and is close to a hydroelectric substation located 15 km to the east. The Mitchi property is located 10 km west of the Mitchinamecus reservoir and 100 km north of the town of Mont-Laurier, Quebec.
Technical Report: Link
Wabash Project
Overview: The Wabash copper-silver property is located in the Haute-Mauricie region of Quebec, only 65km North of the Mitchi project and 15km East of the city of Parent. The project consists of 126 claims and 7266 hectares and is 100% owned by Kintavar. The project sits in the same geological environment as our Michi project but shows higher grades of copper, silver and enrichments in lead and zinc. The property is accessible by roads and has an active commercial railroad crossing the southern part of property. Auriginal Metals owns 100% of the property claims with a royalty of 0.25% applicable only on six (6) of these claims.
Exploration and Upside: The Wabash copper-silver property, part of the Mitchi-Wabash district, was advanced by Kintavar Exploration in 2020, following up on historical showings from 1916 and 1936. Since 2020, exploration has identified mineralized zones over 7 km, including highlights such as 1.01% Cu and 19.3 g/t Ag over 16.8m (WAB-21-21) & 1.19% Cu and 28.4 g/t Ag over 5.35m, within 0.59% Cu and 19.1 g/t Ag over 19m (WAB-22-22).
Location and Infrastructure: The project is accessible by roads and has an active commercial railroad crossing the property which services, among others, the active Suzorite mica mine operated by Imerys Mica Suzorite Inc., a subsidiary of Imerys S.A., a French multinational company which specializes in the production and processing of industrial minerals with a valuation of over $6B.