2025 Exploration Results
Nickel sulphide mineralization was confirmed at the near surface Gemini North Zone. The diamond drill program was designed to define the orientation and expand the mineralized envelope of the Gemini North Nickel Sulphide Zone. Sulphide mineralization is still open in multiple directions and has not been defined by the current drill hole program.
Sulphur contents are significantly enriched when compared to other large-scale nickel projects around the Timmins area and contain higher proportions of copper, platinum and palladium than observed at the CarLang A Deposit. These results further confirm the interpretation that the Gemini North Zone represents a primary nickel sulphide zone associated with the host peridotites and dunites.
Nickel mineralization associated with higher sulphur contents were intersected in all 12 holes of the 2025 Gemini North diamond drill program. The drill program was designed to determine the orientation of the sulphide associated nickel mineralization around hole EV24-CAR08 in preparation for the more intensive Phase 2 drill program. The nickel sulphide zone is currently open in all directions indicating that the target zone extends beyond the limits of the Phase 1 drill program. The Phase 2 diamond drill program is being designed (i) to test the area around the Gemini North Zone, (ii) to define the extent of the higher-grade sulphide zones, and (iii) to provide an assessment of the Gemini North’s overall potential. Surface sampling located to the west and south of the Gemini North zone identified a broad area of >0.24% nickel mineralization that are yet to be drilled tested (see figure 2).
The correlation between elevated sulphur contents and enhanced recovery characteristics has been well established in large-scale nickel projects within the Timmins Area. Notably, the Gemini North Zone has demonstrated consistently higher sulphur grades over longer drill intercepts compared to other mineralized zones in the region, underscoring its distinctive geological character. This evidence supports the interpretation that Gemini North may represent a substantial, potentially standalone, nickel sulphide zone within the Shaw Dome Project.
QEMSCAN mineralogical analysis of selected samples throughout hole EV24-CAR08 indicate millerite and heazlewoodite as being the dominant nickel minerals and chalcopyrite as the dominant copper mineral (see press release dated December 12, 2024). Higher concentrate grades and recoveries are commonly associated with this mineralogy.
Results of the open circuit test performed on a composite sample taken from varying locations within the recently discovered Gemini North Zone (see Press Releases dated November 5, 2024 and December 12, 2024) with analyzed nickel grades ranging from 0.34% to 0.54%. The composite sample was tested at an arms length, third party lab to provide preliminary metallurgical results from the Gemini North Zone. The composite sample indicated robust recovery performance with total nickel recovery of 69.7%, Iron recovery of 58.3% and Chromium recovery of 49%. The same flowsheet developed for the CarLang A deposit was used in this first open cycle test and it was indicated that further improvements related to recoveries and concentrate grades could be anticipated with optimization of the flowsheet based upon the mineralogical composition of the zone. Recovery calculations were not completed for Copper and Cobalt; however, indications from the concentrate grades imply these elements were also recovered to differing degrees.
