Iris Lake and Vanguard 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
Iris Lake and Vanguard is located in Canada, 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 (moderate elevation, moderate relief, continental climate) shapes access, seasonality, and operating costs. Geologically, the area is dominated by Metamorphics, under moderately thick lithosphere with thin sedimentary cover in a Archean Shield tectonic province—factors that inform both deposit style and development complexity.
Drill Intercepts
Reported results (Gold Equivalent) average high grade, long, and deep. The most recent intercepts are benchmarked against a global gold database.
| Date | Intercept (Gold Equivalent) | Grade | Length | Depth |
|---|---|---|---|---|
| 2016-09-13 | 1.03 g/t Gold Equivalent over 13.7 m from 591.5 m | Moderate Grade | Very Thick | Very Deep |
| 2016-09-13 | 0.50 g/t Gold Equivalent over 35.1 m from 579.3 m | Moderate Grade | Very Thick | Very Deep |
| 2016-09-13 | 1.01 g/t Gold Equivalent over 10.0 m from 422.9 m | Moderate Grade | Very Thick | Deep |
| 2016-09-13 | 0.55 g/t Gold Equivalent over 24.4 m from 419.2 m | Moderate Grade | Very Thick | Deep |
| 2016-09-13 | 0.26 g/t Gold Equivalent over 199.7 m from 414.6 m | Moderate Grade | Very Thick | Deep |
| 2012-07-23 | 0.16 g/t Gold Equivalent over 3.2 m from 101.5 m | Low Grade | Thick | Moderate Depth |
| 2012-07-23 | 0.18 g/t Gold Equivalent over 2.0 m from 102.7 m | Low Grade | Moderate Thickness | Moderate Depth |
| 2012-07-23 | 0.15 g/t Gold Equivalent over 1.9 m from 114.0 m | Low Grade | Moderate Thickness | Moderate Depth |
| 2012-07-23 | 0.10 g/t Gold Equivalent over 9.3 m from 108.0 m | Low Grade | Very Thick | Moderate Depth |
| 2012-07-23 | 0.20 g/t Gold Equivalent over 1.5 m from 108.0 m | Moderate Grade | Moderate Thickness | Moderate Depth |
| 2012-07-23 | 0.15 g/t Gold Equivalent over 3.0 m from 102.0 m | Low Grade | Thick | Moderate Depth |
| 2012-07-23 | 0.16 g/t Gold Equivalent over 1.5 m from 102.0 m | Low Grade | Moderate Thickness | Moderate Depth |
| 2012-07-23 | 2.20 g/t Gold Equivalent over 0.9 m from 36.9 m | High Grade | Thin | Shallow |
| 2012-07-23 | 0.79 g/t Gold Equivalent over 2.9 m from 34.9 m | Moderate Grade | Thick | Shallow |
| 2012-07-23 | 0.14 g/t Gold Equivalent over 1.0 m from 77.2 m | Low Grade | Thin | 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.