Kiyuk Lake Gold Property

The Kiyuk Gold Property consist of 51 mineral claims and three mineral leases encompassing over 46,000 hectares. It is located in the Kivalliq Region of Nunavut in northern Canada and has year-round accessibility to the 35-person base camp. Kiyuk offers a compelling district-scale exploration opportunity to discover a new Canadian gold mining camp. To date gold showings have been reported across a 13-kilometer strike length that remains open in all directions. Significant past exploration, beginning with Newmont Mining in 2008 and most recently Cache Exploration in 2017, has resulted in over 13,000 metres of drilling and delineation of four mineralized zones, including the high-grade, near surface Rusty zone, as well as five additional high priority target areas that have yet to be drill tested and numerous additional prospects.

Source: https://www.margaretdiamonds.com/projects/kiyuk-lake-gold-property page : kiyuk-lake-gold-property

The Kiyuk Lake Gold Property is situated on Crown Land in the Kivalliq region of the Territory of Nunavut in northern Canada (Figure 1). The Property spans 463.45 km2 (46,345.21 ha) and comprises 51 mineral claims and three leases (Figure 2, Table 2, Table 3). The Property extends over parts of National Topographic Sheets 065C-07, 065C-08, and 065C-09. The central coordinates of the Property are approximately 60°26’N and 100°26’W (UTM 6,700,500N, 421,100E, NAD83 Zone 14N). The nearest communities with significant infrastructure are Churchill, Manitoba (400 km to the southeast); Arviat, Nunavut (350 km to the east); Lynn Lake, Manitoba (400 km to the south); and Thompson, Manitoba (545 km south-southeast).

Source: NI 43-101 Technical Report Kiyuk Lake Gold Property, Kivalliq Region, Territory of Nunavut, Canada (24 june 2019) page : 12

Spanning two million square kilometres, the Nunavut territory has 25 communities and a population of 37,996. Inuit represent 85% of the residents, creating the foundation of the territory’s culture and values. With the exception of Baker Lake, communities are located on the coast, where hunting and fishing traditionally sustained the Inuit. There are no permanent roads to Nunavut from the rest of Canada or connecting communities within Nunavut. Access is mainly by air with ships delivering supplies during the open water season (CIRNAC, 2018). The Kiyuk Lake Gold Property is remote and can only be accessed by plane via ice runway on Kiyuk Lake during the spring or by a float plane during the summer. The Property is 85 km north-northwest from the nearest airstrip which is located on the southwest shore of Nueltin Lake in northern Manitoba; 118 km east-northeast from an airstrip on Kasba Lake in southeastern Northwest Territories; and 300 km northeast from road-accessible Points North, Saskatchewan. The Nueltin Lake and Kasba Lake airstrips as operated and serviced by Treeline Fishing Lodge and Kasba Lake Lodge and are typically only operational during summer months when the fishing lodges are open. These airstrips can accommodate larger aircraft such as the Hawker Siddeley HS 748 and ATR 42/72 direct from Thompson or Winnipeg Manitoba. The nearest communities with significant infrastructure (hospital, airports, etc.) are Churchill, Manitoba (400 km to the southeast); Arviat, Nunavut (350 km to the east); Lynn Lake, Manitoba (400 km to the south); and Thompson, Manitoba (545 km south-southeast).

Source: NI 43-101 Technical Report Kiyuk Lake Gold Property, Kivalliq Region, Territory of Nunavut, Canada (24 june 2019) page : 19