Lapon Property
Executive Summary
Executive Summary (overview)
- One-paragraph overview tied to the latest reported drilling results date.
- Estimated probability of advancing to a formal resource.
- Typical ranges for grade, tonnage, mine life, and method mix.
- Cost structure summary and where the project ranks vs peers.
Regional Gold Potential
Lapon is located in United States, North America. The surrounding region has historically demonstrated a very high potential for gold endowment and is very proximal to other gold properties. Physical setting (very high elevation, high relief, dry climate) shapes access, seasonality, and operating costs. Geologically, the area is dominated by Basic volcanic rocks, under thin lithosphere with thin sedimentary cover in a Meso- and Cenozoic Extended Crust tectonic province—factors that inform both deposit style and development complexity.
Drill Intercepts
Reported results (Gold) average very high grade, very long, and very deep. The most recent intercepts are benchmarked against a global gold database.
| Date | Intercept (Gold) | Grade | Length | Depth |
|---|---|---|---|---|
| 2025-12-11 | 1.03 g/t Gold over 45.6 m from 79.3 m | Moderate Grade | Very Thick | Moderate Depth |
| 2025-12-11 | 1.05 g/t Gold over 28.9 m from 111.3 m | Moderate Grade | Very Thick | Moderate Depth |
| 2025-12-11 | 0.98 g/t Gold over 19.8 m from 94.5 m | Moderate Grade | Very Thick | Moderate Depth |
| 2025-12-11 | 1.74 g/t Gold over 13.7 m from 202.7 m | High Grade | Very Thick | Moderate Depth |
| 2025-12-11 | 1.14 g/t Gold over 45.7 m from 88.4 m | Moderate Grade | Very Thick | Moderate Depth |
| 2025-12-11 | 0.55 g/t Gold over 16.8 m from 160.0 m | Moderate Grade | Very Thick | Moderate Depth |
| 2025-12-11 | 12.10 g/t Gold over 1.5 m from 208.8 m | Very High Grade | Moderate Thickness | Moderate Depth |
| 2025-12-11 | 1.49 g/t Gold over 47.2 m from 86.9 m | High Grade | Very Thick | Moderate Depth |
| 2025-12-11 | 13.80 g/t Gold over 1.5 m from 102.1 m | Very High Grade | Moderate Thickness | Moderate Depth |
| 2025-12-11 | 6.67 g/t Gold over 18.3 m from 135.6 m | Very High Grade | Very Thick | Moderate Depth |
| 2025-12-11 | 3.05 g/t Gold over 53.3 m from 117.4 m | High Grade | Very Thick | Moderate Depth |
| 2025-12-11 | 1.01 g/t Gold over 54.8 m from 105.2 m | Moderate Grade | Very Thick | Moderate Depth |
| 2025-10-06 | 1.15 g/t Gold over 4.5 m from 48.8 m | Moderate Grade | Thick | Moderate Depth |
| 2025-10-06 | 0.79 g/t Gold over 117.4 m from 79.2 m | Moderate Grade | Very Thick | Moderate Depth |
| 2025-10-06 | 2.48 g/t Gold over 1.6 m from 111.2 m | High Grade | Moderate Thickness | Moderate Depth |
Resource Potential
Resource Potential (overview)
- Probability estimate of advancing to a formal resource.
- Typical ranges for grade and tonnage with p50 markers.
- Side-by-side histograms vs. a global reference dataset.
- Plain-English guidance on how to interpret uncertainty.
Economic Potential
Economic Potential
- Distribution of NPV across 1,000 discounted cash-flow simulations.
- Expected NPV value with context vs. drill-stage peers.
- Discussion of spread, skew, and scenario tails (upside/downside).
- Explicit assumptions shown for discount rate and commodity price.
Assumption Distributions
Assumption Distributions
- Reserve conversion and mine life distributions.
- Recovery, processing costs, and waste:ore ratio ranges.
- Capex/offsite opex, average production rate, and other drivers.