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Strategic Advancements at True North Mine by 1911 Gold Corporation
1911 Gold Corporation is making significant strides in the development of the True North Mine, located within the prolific Rice Lake property in southeastern Manitoba, Canada. This article provides a comprehensive update on the Company’s strategic plans, including a detailed overview of recent developments, resource estimates, and future exploration goals.
1911 Gold Corporation is a prominent player in the Canadian mining industry, focusing on the exploration and development of gold properties. The Company is listed on the TSX Venture Exchange under the ticker symbol AUMB and on the OTC market as AUMBF. With a robust portfolio of assets and a dedicated team, 1911 Gold is well-positioned to advance its projects and contribute to the mining sector’s growth.
The True North Mine is a high-grade gold project situated within the Rice Lake property in southeastern Manitoba. Historically, the mine has produced significant quantities of gold, and 1911 Gold is committed to unlocking its full potential through strategic exploration and development initiatives. The mine’s rich history and geological significance make it a cornerstone asset for the Company.
The Importance of Rice Lake Property
The Rice Lake property is a geologically rich area known for its extensive gold mineralization. Located in the southeastern region of Manitoba, it hosts the True North Mine and several other promising exploration targets. The property’s strategic location and geological characteristics make it a prime area for gold exploration and development.
1911 Gold has undertaken several critical initiatives to advance the True North Mine. These efforts include a thorough review of the geological model, drill hole data evaluation, and updates to the mineral resource estimate. These developments are aimed at enhancing the understanding of the mine’s potential and laying the groundwork for future exploration and production.
Strategic Review of the Geological Model
The Company completed a detailed review of the current Mineral Resource geological model, confirming the integrity of the geological interpretation. This comprehensive review ensures that the model accurately reflects the geological characteristics of the True North Mine, providing a solid foundation for future resource estimates and exploration activities.
A meticulous review of the True North drill hole data was conducted, identifying areas where additional information is required while confirming the data’s integrity and accuracy. This step is crucial in validating the current resource estimates and ensuring that future exploration efforts are based on reliable data.
1911 Gold has validated the current Mineral Resource Estimate, successfully reproducing the tonnes, grades, and contained ounces. This update is essential for providing accurate and reliable resource estimates, which are critical for planning future exploration and development activities.
Geological and Structural Controls
The presence of major regional structures hosted by mafic lithological units has been confirmed as the primary control for gold mineralization at True North. Understanding these geological and structural controls is vital for generating new exploration targets and expanding the resource base.
1911 Gold was approved for $180,986 in funding under Manitoba’s resource development program, administered by the Manitoba Mineral Development Fund (MMDF). This grant demonstrates the provincial government’s support for the True North project and its recognition of the mine’s potential as a significant resource development in Manitoba.
Detailed Resource Model Update
The Company plans to complete the updating of all geological wireframes and validate the project database by the end of June 2024. This effort will support the updated Mineral Resource Estimate, providing a more accurate and comprehensive understanding of the True North Mine’s potential.
The Mineral Resource update will utilize a validated drill hole database comprised of 7,960 drill holes containing 1,529,232 meters of drilling and 30,217 underground channel samples containing 79,147 meters of sampling. This comprehensive review ensures the accuracy and reliability of the data used in resource estimates.
Future Plans for Resource Expansion
1911 Gold is focused on identifying significant target areas for potential extension of the mineral resource inventory. These efforts aim to expand the resource base and unlock additional value from the True North Mine through targeted exploration activities.
The Company is actively generating new targets for gold mineralization adjacent to the True North Mine area within favorable geological settings. These targets will be the focus of future exploration efforts, aimed at expanding the resource base and enhancing the mine’s production potential.
Following the completion of the updated Mineral Resource Estimate, 1911 Gold will focus on defining priority, drill-ready targets within the Company’s 63,036-hectare Rice Lake Greenstone Belt. This extensive exploration program is designed to identify new areas of gold mineralization and expand the resource base.
Focus on Resource Growth in 2024
The remainder of 2024 will see a strong emphasis on exploration for significant resource growth. 1911 Gold is committed to unlocking the full potential of the True North Mine and the surrounding Rice Lake property through targeted exploration and development activities.
Upon completion of the new Mineral Resource Estimate, the Company will commence work on a preliminary mine plan and re-start analysis. This economic analysis will provide further details on the restart plans, timeline, key milestones, and expected costs, setting the stage for a successful return to operations.
President’s Perspective
Mr. Shaun Heinrichs, President and CEO of 1911 Gold, commented, “Our team’s diligent efforts in assessing and updating the geological model have significantly advanced our understanding of the True North mine. Using this updated, robust geological interpretation, we are actively working on prioritizing targets that have resource expansion potential within the existing mine footprint for follow up after completing the Mineral Resource Estimate. We are also grateful for the ongoing support we have received from the Manitoba government and look forward to achieving further milestones in building a core resource project for the province.”
The current NI 43-101 underground Mineral Resource Estimate for the True North Mine contains 2.01 million tonnes at 7.41 grams per tonne (g/t) Gold (Au) for 433,000 ounces (oz) of contained Au in the indicated and inferred categories. Additionally, it includes 3.59 million tonnes at 5.79 g/t Au, containing 605,000 ounces of contained Au in the inferred category. These estimates are based on a cut-off grade of 0.10 oz per ton and a gold price of US$1,400/oz.
Historical High-Grade Drill Results
Historical drill results from the 2017 campaign have identified several high-grade gold intersections, including:
Drill hole 635-17-007: 2.30 meters at 20.90 g/t Au
Drill hole 635-17-020: 1.80 meters at 50.40 g/t Au
Drill hole 635-17-016: 4.80 meters at 29.50 g/t Au
Drill hole 635-17-022: 1.10 meters at 179.90 g/t Au
Drill hole 635-17-024: 1.80 meters at 38.30 g/t Au
Drill hole 635-17-024: 12.40 meters at 13.10 g/t Au
Drill hole 635-17-017: 7.10 meters at 12.30 g/t Au
These high-grade results highlight the significant potential for resource expansion and underscore the importance of ongoing exploration efforts.
Comprehensive Database Review
The full True North Mine area drill hole database comprises 12,408 drill holes with a total of 1,654,537 meters of drilling and 522,485 individual assays. This extensive database forms the basis for generating additional new drill targets within the mine area, outside of the current resource.
1911 Gold is actively identifying significant extensions outside of the current resource for future exploration planning and follow-up. These efforts aim to expand the resource base and unlock additional value from the True North Mine.
Regional Exploration Insights
The regional exploration drill database contains an additional 250 drill holes for 247,168 meters of drilling and 39,524 assays. This total includes 134 drill holes from the Ogama-Rockland deposit, which hosts a NI 43-101 mineral resource of 1.28 million tonnes at 8.17 g/t Au for 337,000 ounces of contained gold in the inferred category. The deposit is located approximately 30 kilometers by road to the east of the True North Mine, and its potential will be reviewed as part of the new exploration plans.
1911 Gold is continuing to work towards the goal of restarting the high-grade True North gold mine, with current plans for this to occur in late 2026. This timeframe could be accelerated should market conditions and exploration results merit a faster ramp-up. The Company expects to commence work on a preliminary mine plan upon receipt of the mineral resource update, providing further details on the restart plans, timeline, key milestones, and expected costs for a successful return to operations.
Support from Manitoba Government
The $180,986 grant from the Manitoba Mineral Development Fund further demonstrates the province’s continued commitment to the True North Resource Project. This support is crucial in advancing the project and highlights the mine’s significance as a cornerstone development in Manitoba.
FAQs
What is the True North Mine?
The True North Mine is a high-grade gold project located within the Rice Lake property in southeastern Manitoba, Canada. It is a key asset for 1911 Gold Corporation.
What recent developments have been made at True North Mine?
Recent developments include a detailed review of the geological model, validation of the mineral resource estimate, and updates to drill hole data. The Company has also secured funding from the Manitoba Mineral Development Fund.
What is the significance of the Rice Lake property?
The Rice Lake property is known for its extensive gold mineralization and hosts the True North Mine. It is a strategically important area for gold exploration and development.
What are the future plans for True North Mine?
Future plans include updating the mineral resource estimate, generating new drill targets, exploring regional drill targets, and preparing for a potential restart of the mine in late 2026.
How has the Manitoba government supported 1911 Gold Corporation?
The Manitoba government has provided $180,986 in funding through the Manitoba Mineral Development Fund to support the advancement of the True North Mine.
What are the key findings from the historical drill results at True North Mine?
Historical drill results from 2017 identified several high-grade gold intersections, indicating significant potential for resource expansion and highlighting the importance of ongoing exploration efforts.
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