Thormodsdalur 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
Thormodsdalur is located in Iceland, Europe. The surrounding region has historically demonstrated a moderate potential for gold endowment and is somewhat distal to other gold properties. Physical setting (moderate elevation, low relief, temperate climate) shapes access, seasonality, and operating costs. Geologically, the area is dominated by Basic volcanic rocks, under very thin lithosphere with moderately thick sedimentary cover in a Meso- and Cenozoic Large Igneous Province tectonic province—factors that inform both deposit style and development complexity.
Drill Intercepts
Reported results (Gold) average very high grade, long, and moderate depth. The most recent intercepts are benchmarked against a global gold database.
| Date | Intercept (Gold) | Grade | Length | Depth |
|---|---|---|---|---|
| 2022-04-04 | 1.26 g/t Gold over 42.0 m from 65.1 m | High Grade | Very Thick | Moderate Depth |
| 2022-04-04 | 131.00 g/t Gold over 0.1 m from 67.4 m | Very High Grade | Very Thin | Moderate Depth |
| 2022-04-04 | 0.24 g/t Gold over 1.0 m from 99.0 m | Moderate Grade | Thin | Moderate Depth |
| 2022-04-04 | 0.25 g/t Gold over 8.0 m from 139.0 m | Moderate Grade | Very Thick | Moderate Depth |
| 2022-04-04 | 0.87 g/t Gold over 0.8 m from 133.4 m | Moderate Grade | Thin | Moderate Depth |
| 2022-04-04 | 0.35 g/t Gold over 3.8 m from 117.7 m | Moderate Grade | Thick | Moderate Depth |
| 2022-04-04 | 1.28 g/t Gold over 0.8 m from 119.2 m | High Grade | Thin | Moderate Depth |
| 2022-04-04 | 2.22 g/t Gold over 0.9 m from 101.5 m | High Grade | Thin | Moderate Depth |
| 2022-04-04 | 0.78 g/t Gold over 1.0 m from 122.0 m | Moderate Grade | Thin | Moderate Depth |
| 2022-04-04 | 1.04 g/t Gold over 1.0 m from 113.0 m | Moderate Grade | Thin | Moderate Depth |
| 2022-04-04 | 0.14 g/t Gold over 1.6 m from 201.0 m | Low Grade | Moderate Thickness | Moderate Depth |
| 2022-04-04 | 0.37 g/t Gold over 2.9 m from 150.1 m | Moderate Grade | Thick | Moderate Depth |
| 2022-04-04 | 0.37 g/t Gold over 1.0 m from 141.0 m | Moderate Grade | Thin | Moderate Depth |
| 2022-04-04 | 4.67 g/t Gold over 1.0 m from 119.0 m | Very High Grade | Thin | Moderate Depth |
| 2022-04-04 | 1.65 g/t Gold over 2.5 m from 106.6 m | High Grade | Thick | 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.