Londonderry - Bass River
Nova Scotia, Canada
Historically Prolific Region
Past Production and Highlights IOCG – Nova Scotia
- Has been one of the most important Nova Scotia mining districts with 60 years of historic iron production in multiple mines
- Hundreds of additional base metal showings appear in region
- Mines spread over a strike of 16 km with mineralization up to 40 m thick
- IOCG mineralized breccias throughout the properties
- Soil and rock anomalies (base metal / Gold) need follow-up
- Multiple geophysical anomalies; never drill tested
- High priority targets based on Tdem/Mag survey 2018
- 8 new tech (Nano Spectra) targets throughout the claims
Significant IOCG Potential
Iron oxide copper-gold (IOCG) mineralized systems typically have high probability for large resource development – Below are some examples elsewhere in the world.
- OZ Minerals Ltd. - Prominent Hill Mine
- 186 million tonnes at 1.1% copper
- 0.7% g/tonne gold
- BHB Billiton - Olympic Dam Mine
- 9.6 billion tonnes at 0.8% copper
- 0.26 kg/tonne uranium
- 0.31 g/tonne gold
- 1.39 g/tonne silver
- Freeport-McMoRan Inc. - La Candelaria
- 419 million tonnes at 0.5% copper
- 0.1 g/tonne gold
- 1.6g/tonne silver
Overview and History
A Nova Scotia IOCG Project
- Property overlies an IOCG mineralized system in the Cobequid–Chedabucto Fault Zone
- $10M+ in previous exploration expenditures generated numerous high-priority exploration targets throughout the claims; several drill ready
- In 2007, Minotaur Exploration Ltd. confirmed IOCG potential and, with their partner Dundee Precious Metals, spent approximately $6M
- 78 initial targets narrowed down to 18 which were classified as Very High to High priority
- Minotaur spent additional $2M drilling only 3 holes but with encouraging results; however, program discontinued due to 2008 financial crisis
- Cu-Fe-Au-Co-Ni and iron-oxide mineralization anomalies found within our claims
- Possible concentrations of Cobalt as high as 1.2% and Gold as high as 2.2 g/t (according to NS Mineral Database)
- Mongoose to continue where they left off utilizing new tech and advanced geophysics
Past Minotaur Exploration
- Minotaur has an impressive track record of exploration success and discovering IOCG/ISCG deposits
- Highly regarded for technical excellence
- Prominent Hill Discovery 2001: resources of 152.8 Mt at 1.18% Cu, 0.48 g/t Au and 2.92 g/t Ag plus 38.3 Mt at 1.17 g/t Au of non-sulfide ore*
- Minotaur looks for next generation discoveries under cover
- OZ Minerals backed Minotaur based on respect for exploration expertise
- Jericho discovery for OZ most significant in Queensland for years
- Tony Belperio - 30 years of exploration success says the IOCG targets in Nova Scotia have a good chance of a discovery
- In 2007, Minotaur Exploration Ltd. confirmed IOCG potential and, with their partner Dundee Precious Metals,
- Abandoned project due to 2008 financial crisis to focus on Australian prospects
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*Source: Miningdataonline 2020 MDO Data Online Inc
Londonderry & Bass River Claims
37 Kms & 6300+ Hectares Under Claim
Nanospectra Technology
Mongoose Utilizing Technology
New advanced mineral investigation techniques have been developed using Nanospectra Geophysics (NSG) to assist in regional exploration and improve mineral target confidence. NSG methods are employed in a collaborative, dynamic process directed toward an improved mineral exploration program.
The NSG Difference – Expertise & Innovation
Nanospectra have invested in developing the skills and technologies needed to investigate complex subsurface mineralization in any environment.
Global Reach
The technology can deploy worldwide in any season, climate and at all land-based altitudes.
Target Mineral Trends
NSG can identify actual specific mineral trends which can include gold, silver, copper, nickel and many others.
Preliminary Results from Nanospectra
Preliminary modeling results from initial data acquired from Nanospectra Technology on the Londonderry claim block.
Every element and compound, both organic and inorganic, naturally generates a distinct signature in the form of electromagnetic radiation. Hyperspectral remote sensing employs sensors, fixed on satellites, which measure this radiation as it is emitted off Earth’s surface. Hyperspectral raw measurements are then de-convolved into >200 discrete wavelength bands within each pixel or instantaneous field of view (Tulk, 2016). Observations are cross-correlated with a library of known spectra to diagnose sources and isolate spectral signatures of interest. The hyperspectral technique differs from the conventional multi-spectral method– the latter only focuses on the spectra of only a few dominant high frequency Wave lengths
Large Geophysics Database
Largest Gravity Anomaly in the Province – 12km x 4km
Minotaur NS-24 Residual Gravity
One of 18 Priority Drill Targets (Proposed Hole)
*Planned, but not yet Drilled
Minotaur Targets NS27 & NS27C (Not Yet Drilled)
Bass River
Priority Target for Future Drill Program
- 2 historic drill holes hit significant intervals of Cobalt/Iron**
- BR-87-1
- 25m @ 547ppm Co and 20.9% Fe from 5m depth
- BR-87-2
- 29m @ 662ppm Co and 21.9% Fe from 3m depth
- 15m @ 812ppm Co and 26.9% Fe from 15m depth
The holes were shallow, less then 75M in-depth.
Similar deposits worldwide show better grade in the heart of the deposit than at the surface. As seen on the slide, the holes just clipped the main IP target.
Historic work programs identified cobalt concentrates as high as 12000 ppm and gold concentrations as high as 2204 ppb.
** Technical Results of drill holes can be found on Sedar. Press release by Chilean metals July 23, 2018. Re-assays of holes that were drilled in 1987 found at the NS Department of Natural Resources
The Bass River Project is a Cobalt/Gold and Iron Oxide target with an enticing set of scientific evidence that it could become a significant target.
Bass River IP Model
Drill Ready IOCG Targets
