NORTHSHORE

HIGHLIGHTS

  • Northshore property is located in the Schreiber-Hemlo Greenstone Belt, 115 km west of Hemlo and 200 km east of Thunder Bay. Road accessible, 4 km south of the Trans-Canada Highway
  • The Company has excellent relationships with the First Nations community of Pays Plat and the Village of Schreiber.
  • The property hosts indicated resources of 391,000 oz gold plus inferred resources of 824,000 oz, all within the Afric Zone
  • As of Nov, 2016, GTA owned more than a 51% interested with Balmoral Resources (BAR) holding the remaining 48% in the joint venture (JV).
  • Higher grade at-surface mineralization is being pursued on the Afric Zone, which is on patented mining claims and the surface rights are owned by the JV.  This will allow for less complicated and more timely permitting.
  • Evaluation of a higher-grade West Pit is in progress and GTA is interested in pursuing a bulk sample in 2017.  This would further de-risk the project and provide valuable metallurgical and economic information regarding the prospect of small scale mining.

SUMMARY

GTA Resources owns more than a 51% interest in the Northshore property with Balmoral Resources retaining a 48% interest. Since optioning the property in 2011 GTA has completed a total of 103 drill holes delineating the gold mineralization at Northshore.  The bulk of the drilling (99 holes) was done on the Afric Zone.  Gold mineralization within the Afric Zone is hosted within widespread sections of altered felsic to intermediate intrusive and porphyritic rocks, hosting quartz and quartz carbonate veins, veinlets, stringers and fracture infillings.  Multiple occurrences of visible gold were observed in a number of drill holes.

The Afric Zone has been defined over an area of 500 m by 200 m and to a depth of 300 m and consists of gold mineralization of variable grade throughout. The widespread nature of the gold can be demonstrated in a number of drill holes being mineralized throughout its entire length, including hole WB-11-11 which assayed 3.21 g/t over 149.5 m (uncut).

INITIAL RESOURCE - In 2014, GTA reported an initial NI 43-101 mineral resource estimate for the Afric Zone (see associated report “Technical Report on the Mineral Resources of the Northshore Property”, dated June 30, 2014). At a cut-off grade of 0.50 grams gold per tonne the classified mineral resource was estimated to be:

  • Indicated Category: 391,000 ounces gold in 12,360,000 tonnes at a grade of 0.99 g/t gold
  • Inferred Category: 824,000 ounces gold in 29,580,000 tonnes at a grade of 0.87 g/t gold

HIGHER GRADE ZONE - Higher grade near-surface mineralization exists in the centre of the Afric Zone and this has been the focus of recent drilling.  Previous drilling in this area includes intersections of 12.49 g/t over 33.2 m and 4.35 g/t over 14.6 m, centred on an area of heavier quartz veining and associated mineralization.

In 2015, GTA contracted a study of the higher grade, near surface gold mineralization hosted within the Afric Zone. Results from this study included the outlining of two proposed shallow pits (using a cut-off grade of 1.6 g/t Au) labeled West Pit and East Pit (see GTA news release dated June 17, 2015).  The 2016 in-fill drilling focused on the West Pit and the results were very good (see GTA news release dated Aug. 22, 2016).

PRELIMINARY METALLURGY - Preliminary metallurgical test work was conducted on two composited drill core samples to determine potential gold recoveries (see GTA news release Aug. 29, 2016).  Recoveries varied from 94.8% to 99.6% over a 24 hour retention time, indicating excellent recoveries can be anticipated using conventional cyanidation.

NI 43-101 REPORT FROM JUNE 2014 (PDF)

HIGHLIGHTS

  • Northshore property is located in the Schreiber-Hemlo Greenstone Belt, 115 km west of Hemlo and 200 km east of Thunder Bay. Road accessible, 4 km south of the Trans-Canada Highway
  • The Company has excellent relationships with the First Nations community of Pays Plat and the Village of Schreiber.
  • The property hosts indicated resources of 391,000 oz gold plus inferred resources of 824,000 oz, all within the Afric Zone
  • As of Nov, 2016, GTA owned more than a 51% interested with Balmoral Resources (BAR) holding the remaining 48% in the joint venture (JV).
  • Higher grade at-surface mineralization is being pursued on the Afric Zone, which is on patented mining claims and the surface rights are owned by the JV.  This will allow for less complicated and more timely permitting.
  • Evaluation of a higher-grade West Pit is in progress and GTA is interested in pursuing a bulk sample in 2017.  This would further de-risk the project and provide valuable metallurgical and economic information regarding the prospect of small scale mining.

SUMMARY

GTA Resources owns more than a 51% interest in the Northshore property with Balmoral Resources retaining a 48% interest. Since optioning the property in 2011 GTA has completed a total of 103 drill holes delineating the gold mineralization at Northshore.  The bulk of the drilling (99 holes) was done on the Afric Zone.  Gold mineralization within the Afric Zone is hosted within widespread sections of altered felsic to intermediate intrusive and porphyritic rocks, hosting quartz and quartz carbonate veins, veinlets, stringers and fracture infillings.  Multiple occurrences of visible gold were observed in a number of drill holes.

The Afric Zone has been defined over an area of 500 m by 200 m and to a depth of 300 m and consists of gold mineralization of variable grade throughout. The widespread nature of the gold can be demonstrated in a number of drill holes being mineralized throughout its entire length, including hole WB-11-11 which assayed 3.21 g/t over 149.5 m (uncut).

INITIAL RESOURCE - In 2014, GTA reported an initial NI 43-101 mineral resource estimate for the Afric Zone (see associated report “Technical Report on the Mineral Resources of the Northshore Property”, dated June 30, 2014). At a cut-off grade of 0.50 grams gold per tonne the classified mineral resource was estimated to be:

  • Indicated Category: 391,000 ounces gold in 12,360,000 tonnes at a grade of 0.99 g/t gold
  • Inferred Category: 824,000 ounces gold in 29,580,000 tonnes at a grade of 0.87 g/t gold

HIGHER GRADE ZONE - Higher grade near-surface mineralization exists in the centre of the Afric Zone and this has been the focus of recent drilling.  Previous drilling in this area includes intersections of 12.49 g/t over 33.2 m and 4.35 g/t over 14.6 m, centred on an area of heavier quartz veining and associated mineralization.

In 2015, GTA contracted a study of the higher grade, near surface gold mineralization hosted within the Afric Zone. Results from this study included the outlining of two proposed shallow pits (using a cut-off grade of 1.6 g/t Au) labeled West Pit and East Pit (see GTA news release dated June 17, 2015).  The 2016 in-fill drilling focused on the West Pit and the results were very good (see GTA news release dated Aug. 22, 2016).

PRELIMINARY METALLURGY - Preliminary metallurgical test work was conducted on two composited drill core samples to determine potential gold recoveries (see GTA news release Aug. 29, 2016).  Recoveries varied from 94.8% to 99.6% over a 24 hour retention time, indicating excellent recoveries can be anticipated using conventional cyanidation.