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Treasury Metals Inc.’s land package lies adjacent to the Trans-Canada highway and is located midway between Thunder Bay and Winnipeg. The closest city is the City of Dryden, a drive of 15 km to the west. The community of Wabigoon is five km to the south of the Project.
Treasury Metals Inc.’s Goliath Gold Complex offices are located in former Ontario government industrial offices, workshops and storage facilities.
Goliath Gold Complex
Mineral
Estimate
| Deposit | Quantity ('000 Tonnes) | Grade Gold (g/t) | Contained Gold ('000 oz) | Grade Silver (g/t) | Contained Silver ('000 oz) |
|---|---|---|---|---|---|
| Open Pit - Goliath | |||||
| Proven | 3,969 | 1.05 | 134 | 3.22 | 410 |
| Probable | 5,580 | 0.67 | 119 | 2.20 | 395 |
| Proven & Probable | 9,549 | 0.83 | 254 | 2.62 | 805 |
| Open Pit - Goldlund | |||||
| Proven | - | - | - | - | - |
| Probable | 16,256 | 1.19 | 621 | - | - |
| Proven & Probable | 16,256 | 1.19 | 621 | - | - |
| Open Pit - Miller | |||||
| Proven | - | - | - | - | - |
| Probable | 738 | 1.03 | 24 | - | - |
| Proven & Probable | 738 | 1.03 | 24 | - | - |
| Underground - Goliath | |||||
| Proven | 596 | 3.96 | 76 | 16.73 | 321 |
| Probable | 3,180 | 2.85 | 292 | 5.85 | 598 |
| Proven & Probable | 3,776 | 3.03 | 368 | 7.56 | 918 |
| Total | |||||
| Proven | 4,565 | 1.43 | 210 | 4.98 | 731 |
| Probable | 25,745 | 1.28 | 1,057 | 1.20 | 993 |
| Total Proven & Probable | 30,319 | 1.30 | 1,267 | 1.77 | 1,724 |
Goliath Gold Complex
Mineral
Estimate
| Deposit | Cut-Off Grade (g/t) | Quantity ('000 Tonnes) | Grade Gold (g/t) | Contained Gold ('000 oz) |
|---|---|---|---|---|
| Measured Resources | ||||
| Goliath Open Pit | 0.25 | 6.223 | 1.20 | 240 |
| Goliath Underground | 2.2 | 170 | 6.24 | 34 |
| Total Measured | 6,393 | 1.33 | 274 | |
| Indicated Resources | ||||
| Goliath Open Pit | 0.3 | 23.081 | 0.75 | 559 |
| Goliath Underground | 2.2 | 2,550 | 3.55 | 291 |
| Goldlund Open Pit | 0.3 | 33,353 | 0.85 | 911 |
| Goldlund Underground | 2.2 | 222 | 4.06 | 29 |
| Miller Open Pit | 0.3 | 2,112 | 1.10 | 75 |
| Total Indicated | 61,318 | 0.95 | 1,865 | |
| Total Measured and Indicated | 67,711 | 0.98 | 2,139 | |
| Inferred Resources | ||||
| Goliath Open Pit | 0.3 | 3,330 | 0.66 | 70 |
| Goliath Underground | 2.2 | 48 | 2.95 | 5 |
| Goldlund Open Pit | 0.3 | 28,833 | 0.73 | 680 |
| Goldlund Underground | 2.2 | 222 | 3.26 | 23 |
| Miller Open Pit | 0.3 | 138 | 1.01 | 5 |
| Total Inferred | 32,571 | 0.75 | 783 | |
| Location: | 20 km east of Dryden, Northwestern Ontario |
| Resource: | 1,124Koz Au, 3,522Koz Ag Measured and Indicated and 75Koz Au, 92Koz Ag Inferred
Resource designs and all drilling at Goliath |
| Reserve: | 210Koz Au, 731Koz Ag Proven and 411Koz Au, 993Koz Ag Probable |
| Host to: | Gold and Silver |
| Stage: | Exploration and Development |
| Infrastructure: | Trans-Canada Highway, Hydro One 115/230 kV power availability, municipally controlled roads, TransCanada natural gas pipeline, CP Rail, and skilled local workforce readily available. |
| Jurisdiction: | Stable, mining-friendly jurisdiction of Northwestern Ontario. |
The Goliath Gold Project (Mine + Mill) consists of the construction, operation, decommissioning, and remediation of an open-pit and underground gold mine and associated milling infrastructure including a tailings storage facility located 20 km east of the City of Dryden, Ontario. The Goliath Gold Project received Federal Environmental Assessment Approval in 2019 with the Minister of Environment and Climate Change Canada concluding that the Goliath Gold Project was unlikely to result in significant adverse effects to the environment. Treasury Metals has commenced the process of receiving additional permits and approvals to construct and operate the Goliath Gold Project (Mine + Mill).
Treasury received a Federal government Decision Statement for the Project under the Canadian Environmental Assessment Act, 2012 (CEAA, 2012) on 19 August 2019 (Decision Statement), with the Minister of Environment and Climate Change Canada concluding that with the implementation of mitigation measures, the Project is not likely to cause significant adverse environmental effects referred to in subsection 5(1) CEAA, 2012.
As per Condition 2.9, Treasury is required to prepare an annual report each reporting year. Below is a link to the Annual Report in support of Condition 2.9.
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Adam Larsen, P.Geo., Director of Exploration, of the Company, is considered a Qualified Person for the purposes of National Instrument 43-101 and has reviewed and approved the scientific and technical information contained on this website.
Kevin Bullock, P. Eng., President, CEO and Director of NexGold, is a “qualified person” within the meaning of NI 43-101 and has reviewed and approved the scientific and technical information in this news release regarding the Goldboro Project.