Canada

Zeus Olympus Sub Corp holds 198 Claims in Southwestern Quebec which cover an area of approximately 102km² 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:

  • 20m at 2.59% Ni, 2.79% Cu, 3.37g/t PGE & 0.11% Co from 85.20m in ZA-18-08;
  • 28m at 2.17% Ni, 2.15% Cu, 2.94g/t PGE & 0.11% Co from 61.15m in ZA-18-05;
  • 27m at 2.06% Ni, 3.77% Cu, 3.09g/t PGE & 0.12% Co from 53.10m and
  • 10m at 2.38% Ni, 1.87% Cu, 1.90g/t PGE & 0.11% Co from 70.17m in ZA-18-04;
  • 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. Apart from hole ZA-19-01-EXT, results of the program were consistent with previously drilled mineralised horizons, as well as providing proximal extensions to the sulphide lens along dip, plunge, and strike. Highlighted results include the following massive sulphide intersections (ASX 16 December 2019).

Hole Number

From

To

Interval (m)

%Cu

%Ni

Pt g/t

Pd g/t

Co ppm

Au g/t

Ag g/t

ZA-19-01-EXT*

102

300

198

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

*2018 hole deepened for DHEM survey

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.

Importantly, this intersection may represent a new style of mineralisation and mineral assemblage previously unknown at Alotta and be related to late-stage feldspar porphyry intrusives adjacent to the Alotta massive sulphide body.

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.

A long section of showing the 2019 mineralised intercepts is given in Figure 4.

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

An initial four (4) hole,  ~500m diamond drill programme targeting the Cu-Pd  mineralisation (Figures 3 and 4) is planned to follow-on the late-June 2020 Lorraine drill programme. 

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 5 and 6) 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 5: Lorraine Project – Locality Map
Figure 6: Lorraine Project – Prospect Localities

The Company’s focus within the Lorraine Project for 2020 will be on the gold potential of the Lorraine Mine area at depth

More detail and technical reporting of the 2019 exploration programme is documented in the ASX Announcements of 21 and 28 March 2019; 16, 21, 29, and 31 May 2019; 18 and 24 June 2019; 17, 22 and 26 July 2019; 7, 8, 12, 23 and 30 August 2019; 24 September 2019; 14, 15, 21, 25, and 30 October 2019; 6 November 2019; 3, 9, 11and 16 December 2019; 21 January 2020 – all of which are  available through the Investor Portal on Website.

Lorraine Mine Gold Programme

As previously announced (ASX Announcement 21 January 2020 and 2 March 2020) the Company will undertake a gold exploration programme at the Lorraine Mine Site. Orix Geoscience Canada (Orix) undertook a Scope of Works (SOW) for the Lorraine Mine Gold Project which is now complete. The SOW included the compilation of all historic mine data (1964 – 68) and digitization of all associated drilling.

In summary, during 1966 with the Level 4ore becoming poor in nickel and richer in copper, stope development at the mine was put on hold.  Development work did however continue on the 5 and 6 Levels to provide drill access to an NNE plunging Ni+Cu ore zone. Gold mineralisation was reported in the 5 and 6 Level drift development during this time. Only assay data from the 6 Level is currently available to the Company as highlighted below and shown in Figure 7 below

  • Orix’s interrogation of the database resulted in the accurate location of the high-grade channel sampled intervals on the 6-Level – 601W drift (Figure 8) namely:
  • 28m at 45.24g/t Au, 41g/t Ag and 3.19% Cu; and,
  • 4m @ 14.12g/t Au, 22g/t Ag and 3.16% Cu.
  • The collar location of underground hole 6-U-76 which intersected 1m @ 53.47 g/t Au and 12g/t Ag was also confirmed. Importantly it places this mineralised intercept approximately 12m below the 6-Level 28m channel sample (Figure 9).
Figure 7: Lorraine Mine Site – Surface Plan with  6-Level Gold Sampling
Figure 8: Lorraine Mine 6-Level (300m VD) oblique view of Figure 2 showing the location of gold assay values from the drift sampling. Underground hole U-6-76 drilled from the 601S crosscut intersected the vein system ~12m below the 601 drift
       Figure 9: Interpreted Section 60E showing the shaft and level development, importantly the location of u/g hole U-6-76 is shown with the high-grade intercept ~12m below the 6-Level drift

An initial four (4) hole,  ~2,000m diamond drill programme targeting the gold  mineralisation sampled on Level 6 of the mine (Figure 9) is planned to commence in late-June 2020.