Canada

Zeus Olympus Sub Corp holds 157 Claims in Southwestern Quebec which cover an area of approximately ~84km² comprising the Alotta-Delphi-Zullo (ADZ) and the Lorraine Projects, see Figure 1 below. When the Company acquired Zeus, the Zeus vendors had already arranged for diamond drilling to occur at its Alotta Prospect which meant that it was possible for the Company to immediately commence a drilling programme on the 4 October 2018 (ASX announcement 3 October 2018).

 

Figure 1: Project Locality Map

The 2018 drill programme successfully intersected Ni-Cu-PGE-Co mineralisation in all nine holes drilled including some wide zones of high-grade massive sulphide mineralisation as reported in ASX Announcements 9 October 2018, 16 October 2018, 13 November 2018, 8 January 2019.

Significant 2018 Massive Sulphide Intersections included:

  • 9.20m at 2.59% Ni, 2.79% Cu, 3.37g/t PGE & 0.11% Co from 85.20m in ZA-18-08;
  • 11.28m at 2.17% Ni, 2.15% Cu, 2.94g/t PGE & 0.11% Co from 61.15m in ZA-18-05;
  • 3.27m at 2.06% Ni, 3.77% Cu, 3.09g/t PGE & 0.12% Co from 53.10m and
  • 7.10m at 2.38% Ni, 1.87% Cu, 1.90g/t PGE & 0.11% Co from 70.17m in ZA-18-04;
  • 8.13m at 1.74% Ni, 2.06%Cu, 1.59g/t PGE & 0.11% Co from 43.17m and
  • 5.30m at 3.04% Ni, 0.84% Cu, 1.96g/t PGE & 0.13% Co from 63.30m in ZA-18-06.

 

Figure 2: 2018 Hole ZA-18-08 – 8.53m of massive sulphide from 85.87m to 94.4m depth
9.2m @ 2.59% Ni, 2.79% Cu, 3.37g/t PGE and 0.11% Co.

Alotta Prospect 2019 Drill Programme

Zeus completed 904m of diamond drilling in eight holes in August and November 2019. Seven of these holes (ZA-19-02 to ZA-19-08) were drilled to better understand the previously drilled mineralised horizons as well as provide proximal extensions to the sulphide lens along dip, plunge, and strike. Highlighted results include the following massive sulphide intersections (ASX 16 December 2019).

The eighth hole ZA-19-01-EXT was a 2018 hole which was deepened to 300m for a DHEM survey.

Hole Number From To Int (m) %Cu %Ni Pt g/t Pd g/t Co ppm Au g/t Ag g/t
ZA-19-02 30.25 37 6.75 0.32 0.15 0.06 0.15 140 0.03 0.56
ZA-19-03 31.77 73.00 41.23 0.93 0.87 0.27 0.81 402 0.06 2.88
including 55.20 63.00 7.80 0.96 1.80 0.34 1.33 688 0.05 2.24
including 55.20 58.00 2.80 0.18 3.04 0.33 1.80 1078 0.02 0.87
and 86.60 87.80 1.20 0.65 2.82 0.40 2.45 1473 0.12 9.76
ZA-19-04 49.00 71.60 22.60 1.16 0.77 0.20 0.81 358 0.08 3.66
including 49.00 55.00 6.00 2.89 2.10 0.42 1.98 785 0.17 9.57
ZA-19-05 54.00 71.00 17.00 2.90 1.52 0.55 2.55 729 0.23 6.26
including 54.00 59.40 5.40 4.11 0.20 0.72 3.81 259 0.14 9.70
including 55.30 69.40 14.10 3.22 1.76 0.63 2.96 812 0.27 6.99
including 55.30 59.40 4.10 5.29 0.26 0.93 4.93 335 0.16 12.42
and 59.40 69.40 10.00 2.38 2.37 0.50 2.16 1007 0.31 4.77
ZA-19-06 64.50 78.50 14.00 1.56 1.54 0.32 1.13 721 0.08 6.09
including 64.50 70.00 5.50 1.91 2.40 0.55 1.71 962 0.12 7.31
ZA-19-07 57.00 66.15 9.15 0.43 0.23 0.07 0.25 163 0.03 1.47
ZA-19-08 55.50 79.90 24.40 1.15 0.68 0.20 0.85 419 0.10 3.27
including 55.50 65.30 9.80 1.67 1.23 0.27 1.33 765 0.13 4.18
including 55.50 61.00 5.50 1.42 1.42 0.23 1.51 875 0.10 4.99

 

Importantly hole ZA-19-05 included a spectacular 0.5m wide porphyry hosted ‘bonanza grade’ intersection of chalcopyrite – pyrrhotite massive sulphide assaying 22% Cu, 34g/t Pd, 3.5g/t Pt, 0.78% Ni, 1.4% Zn and 65g/t Ag (Figure 3). This 0.5m intercept from 55.3m forms part of a wider 4.1m zone of mineralisation assaying 5.3% Cu, 4.9g/t Pd, 0.9g/t Pt, 0.26% Ni and 12g/t Ag.

 

Figure 3: 2019 Hole ZA-19-05, 0.5m intersection of chalcopyrite – pyrrhotite massive sulphide from 55.3m hosted in feldspar porphyry assaying 22% Cu, 34g/t Pd, 3.5g/t Pt and 0.78% Ni, 1.4% Zn, 65g/t Ag.

 

Figure 4: Alotta 2019 Drilling – Long Section and Mineralised Intercepts

Alotta 2020 Drill Programme

During June 2020 Zeus completed a five-hole drill programme for 543m targeted the ESE extensions to known mineralisation. The drilling was focused around the 2019 hole ZA-19-05 to further evaluate the importance of the high-grade palladium and copper assays returned from it.

Significant intersections include:

  • Hole ZA-20-01
    • 6.4m at 1.13% Ni, 1.39% Cu, 3.5g/t Ag, and 1.7g/t PGE from 62.6m; and,
    • 3.4m at 1.64% Ni, 9.97% Cu, 33g/t Ag and 4.4g/t PGE from 75.8m.
  • Hole ZA-20-04
    • 27.5m at 1.19% Ni, 1.6% Cu, 5g/t Ag, and 1.5g/t PGE from 48.5m,
    • Including –  17.0m at 1.67% Ni, 2.12% Cu, 5g/t Ag, and 1.9g/t PGE from 48.5m; and,
    • 8.5m at 2.05% Ni, 2.1% Cu, 4g/t Ag and 2.3g/t PGE from 56.0m.
  • Hole ZA-20-05
    • 8.3m at 0.75% Ni, 1.65% Cu, 8g/t Ag and 1.8g/t PGE from 57.0m; and,
    • 12.5m at 1.55% Ni, 1.90% Cu, 15.4g/t Ag, and 2.5g/t PGE from 76.2m,
    • Including – 6.9m at 2.46% Ni, 2.48% Cu, 24.5g/t Ag and 4.9g/t PGE from 81.8m.

Assay results, drill sections and core photographs are included in ASX Announcement 4 August 2020.

Alotta Project Future Work:

Future work in the Alotta hinterland and wider Alotta, Delphi and Zullo claim area (Figure 5) will now be undertaken.

The Company will review additional historic drilling together with its 2019 VTEM survey data in the Alotta hinterland where historic drilling (1988 by Alotta Resource Ltd and in 2002 by Aurora Platinum Corp) returned several Ni-Cu intercepts 400 to 500m NW of the main deposit. Results include*:

  • DB-88-27, 16m of disseminated sulphides with 2.9m massive sulphide with 15% cpy in gabbro from 49m;
  • DB-88-28, 7m of disseminated sulphides 5% po-py and 1% cpy in gabbro from 49m;
  • DB-88-47, 10m of 15% py-po and 1% cpy in gabbro from 45m;
  • DB-88-48, 4m of 1-2% po-py from 45m;
  • DB-88-49, 9m of 5% py-po and 0.5% cpy in gabbro from 51m; and,
  • BT-02-57, 2.2m at 0.32% Ni and 0.9% Cu

* data associated with the historic drilling is not 100% complete in the Company’s Quebec database.

There are several mid-priority VTEM anomalies (2019 survey data) east of Alotta that need ground truthing and if warranted followed-up with ground EM and ultimately diamond drilling.

Patry-Delphi and Zullo Prospects

The Patry-Delphi and Zullo Prospects are located 2.2 to 3.6km respectively south of the Alotta deposit

Patry Prospect: Historic Patry drilling by Aurora Platinum Corp in 2001 was designed to test the down-dip extension of disseminated to blebby sulphides (pyrite-pyrrhotite-chalcopyrite and pentlandite) in a chloritized and carbonate altered gabbro unit with the following results:

  • Hole BT-01-36 returning 1.15m of massive sulphide with 8.3% combined Ni-Cu from 51.55m;
  • Hole BT-01-40 returning 19m at 1.38% combined Ni-Cu from 79.30m; and,
  • Hole BT-01-49 returning 29m of low-grade Ni-Cu from 49m.

Delphi Prospect: Ni-Cu-PGE mineralisation in and associated with an E-W trending shear zone. No mineralisation of economic significance returned however anomalous values in sheared gabbro. Downhole IP (2001) identified an off-hole conductive zone for follow-up. As per Patry the 2017 aeromagnetic survey covers this prospect.

Zullo Prospect: Anomalous to low-grade copper (1m at 0.96% Cu and 1.5m at 0.38% Cu) in 1964 diamond drilling to be evaluated. Mineralisation is localised at a gabbro/felsic volcanic contact.

Drilling in 1987 returned several gold intercepts best being in Hole R87-3 with 3.0m at 2.55g/t Au from 102.7m.

The Company has a 2017 detail aeromagnetic survey including ‘inversion data’ over the prospect area that will assist in targeting further drilling.

Ground EM surveys as required will be conducted over the prospective areas.

Figure 5: ADZ Project Locality Plan

Lorraine Project

The Lorraine Project comprises 139 claims in a single contiguous claim block for an area ~76km². The project area lies within the Lac Des Bois sector (Figures 6 and 7) of the BAGB. It contains the historic Cu-Ni sulphide deposit of the Lorraine Mine and several other mineralised Ni-Cu, PGE or gold occurrences. The property is accessible from the town of Ville-Marie via the regional secondary road 382 (Figure 1).

Figure 6: Lorraine Project – Locality Map

The Company’s focus within the Lorraine Project in 2020 was on the gold potential of the Lorraine Mine area at depth.

 

A 6-hole deep diamond drilling programme for 2,928m Figure 7, targeting the high-grade gold (plus copper and silver) mineralisation reported from historic sampling and limited drilling associated with the 6 Level development as detailed above of the Lorraine Nickel Mine was successfully completed. (ASX Announcement 2 September 2020).

 

 

 

 Figure 7: Locality Plan of the completed 6-holes, with the 6-L drifts (300m VD) shown on the plan.

All assays from the six targeted deep diamond holes drilled at the Lorraine Mine failed to validate the historically reported high-grade gold mineralisation from the mine’s 6th level (~300 vertical depth) development drives. This outcome was not expected given all the holes not only intersected the original Footwall Contact Target Zone but also intersected additional deeper veining and brecciation and importantly intense silica-carbonate (±sulphides) alteration zones below the FCTZ.

All assays from the six targeted deep diamond holes drilled at the Lorraine Mine failed to validate the historically reported high-grade gold mineralisation from the mine’s 6th level (~300 vertical depth) development drives. This outcome was not expected given all the holes not only intersected the original Footwall Contact Target Zone but also intersected additional deeper veining and brecciation and importantly intense silica-carbonate (±sulphides) alteration zones below the FCTZ.

Minor amounts of fine-grained visible gold were also reported from holes CM-20-01 and 02 in ASX Announcements of 14 July and 10 August 2020 including photos. The restricted nature of the visible gold was unfortunately not an indication of widespread gold mineralisation and did not increase the low-grade tenor of the core that contained it.

Lorraine Project Future Work

Given the extensive veining and brecciation and importantly the intense silica-carbonate (±sulphides) alteration zones intersected in all 6-holes drilled (see Figure 8), the Company’s management are yet to decide what additional evaluation of the core needs to be undertaken. The logical way forward is re-assaying of the recent core for a range of elements including REE.

There remain reported anomalous gold assays from historical trenching and shallow drilling to the west of the Lorraine mine to be followed up as well.

The market will be kept informed of the Company’s future plans for the Lorraine Project.

 

Figure 8:Hole CM-20-04 – The image shows altered footwall rocks exhibiting silica-carbonate veining and breccias with minor sulphides from ~480.3m downhole, ASX Announcement 20 July 2020.

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