Projects
Drayton Black Lake Project
Overview
The Drayton Black Lake Project (Flagship) is a 15,257Ha package (Partially optioned and partially 100% owned) located within one of that last remaining underexplored greenstone belts in North Western Ontario. The project benefits from excellent access to priority target areas and logistical infrastructure make this project and exploration Company’s dream.
The project is split into seven areas for exploration categorization:
- Moretti
- Split Lake
- Alcona
- Alkenore
- Drayton
- McCombe
- Forster
Rainy River-Dryden-Sioux Lookout Gold District
The Drayton Black Lake Project is located within the underexplored Eagle-Wabigoon-Manitou Greenstone Belt in the Rainy River-Dryden-Sioux Lookout District encompassing +10Moz Au discovered.
District scale discovery potential:
- Similar Geological Setting to major Ontario gold discoveries: Timmins, Hemlo, Red Lake, Kirkland Lake.
- Our properties contain multiple structural settings for the discovery of district scale orogenic lode gold deposits (sheared corridors with secondary fault structures). Ore shoots are normally concentrated in these structural features (fault/vein intersections, boudaged veins, offset-shoots, vein/vein intersections, vein fold axis’).
The Company is positioned to have the next district scale discovery in Northwestern Ontario.
Proposed Ore Deposit Model: Tension Vein Array (TVA) Orogenic Gold
The major fault/shear zones across the project area have an orientation of ~45 degrees. These zones are extensive and can be followed for several kilometers along strike and may be 10m to +100m wide.
These structural corridors contain abundant and widespread alteration within the country rock such as iron-carbonate and silica. Frequent well-developed penetrative fabric indicating a long-lived fluid-rock interaction as well as strike-slip movement.
Oblique to this set of discrete shear/fault zones are a set of tension fracture-fill quartz veins with an orientation of ~80 degrees (with local variation). This is the key area for significant gold concertation within the orogenic lode gold model (Timmins, Hemlo, Red Lake, Kirkland Lake). Our projects contain multiple examples of these occurrences.
Figure 21 – Tension Vein Array (TVA) model, from Laing 2002.
Ownership
The Drayton Black Lake Project is partially optioned (2 Optionors) and partially 100% owned (Split Lake Area) Optioned from Two Optionors:
Heritage Mining owns 100% of the “Split Lake Property”: 50 Claims totalling ~336Ha
Option Agreement: Stillwater Critical Minerals
Option Agreement Signed November 25th, 2021 Totaling 680 Claims covering ~14,092 Ha
| Terms | Payments (C$) | Shares** | Project Spend (C$) | Option % Stillwater Critical Minerals |
| Drayton – Black Lake (Binding LOI Deposit) | $20,000 | |||
| IPO/Go Public Transaction* | 2,800,000 | |||
| First Anniversary (2022) | $150,000 | 1,100,000 | $500,000 | |
| Second Anniversary (2023) | $150,000* | 1,100,000 | $1,000,000 | |
| Third Anniversary (2024) | 1,100,000 | $1,000,000 | 51% | |
| Fourth Anniversary (2025) | 1,100,000 | $2,500,000 | 90% | |
| Total Acquisition | $300,000 | 7,200,000 | $5,400,000 | 90% |
* Stillwater Critical Minerals converted C$150,000 option payment into equity valued at C$300,000
Note 1
- Discovery payment based on C$1.00 per oz capped at C$10M
- Stillwater Critical Minerals has the option to maintain a 10% interest in the project through a joint venture agreement or take back a royalty described below:
- 2% NSR on unencumbered land – Buyback 1% for C$2M
- 1% NSR on Drayton, Black Lake Claims – Buyback 0.5% for C$1M
- Paul Riives retains a 2% NSR on the property with a buy back of 1% for $1,000,000 and an advanced royalty payment of $1,000 per year after the Company earns 100% of the option agreement.
Location - Excellent
The Project is located in Northwestern Ontario, Canada, multiple access avenues exist by either airplane from two international airports to Sioux Lookout (Airport – YXL) or drive:
- Thunder Bay, Ontario, Canada: ~390km drive or 50 min flight (YQT – YXL)
- Winnipeg, Manitoba, Canada: ~450km drive or 1.5-hour flight (YWG – YXL)
From Sioux Lookout, Ontario to site is approximately 15km (20min) drive via paved highway (ON-642) to the center of the project. All weather-maintained logging roads allow for easy access to all primary target areas.
Strategic Location to Existing Infrastructure includes:
- Sioux Lookout Airport (Fly in from two international airport: Thunder Bay or Winnipeg)
- Paved Highway
- Railway (CN Rail)
- Industrial/Commercial Power Access
- Abundant Water for operations
- Maintained logging road provide direct access to exploration target points
Sioux Lookout Airport
Sioux Lookout Train Station
In addition to airport and paved highway access. CN railway passes through the top portion of the project as well as ~15km drive by paved highway to the Sioux Lookout train station.
This is the main transcontinental Canadian National (CN) rail line
Sioux Lookout Train Station
Sioux Lookout Train Rail Lines
Power
Established residential and commercial scale power passes through the property providing a strategic advantage to future operational developments.
New Powerline Through DBL Project
Access for Exploration - Excellent
2023 Exploration
Photos
The DBL project provides easily accessing water for exploration activities nearby to all priority target areas on the property.
Maintained logging roads provide drive up access to all priority areas for exploration.
All priority targets have excellent access ~10km from Sioux lookout by paved highway and the 5-15km of maintained logging roads.
Priority and grass root target areas have benefited from recent logging activities minimizing environmental impact on exploration activities and improving the operational efficiency for our exploration programs.
Historical Information
Project was selected due to an immense amount of historical exploration data (+100 years worth) never consolidated into a single property – wide GIS database, until now.
Large collection of information, drill ready, strategy to rapidly advance projects.
Year | Operators | Summary | |
1930-1950 | •Alcona Gold Mines Ltd •Alkenore Buffalo Gold Mines Ltd | •Abbot Red Lake Mines Ltd •Auralee Gold Mines | •Recovery, Mapping •Drilling, Geophysical |
1951-1970 | •Coniagas Mines Ltd. •Floregold Red Lake Mines Ltd. •Conecho Mines Ltd •Wright- Hargreaves Mines Ltd •Alkenore Buffalo Gold Mines Ltd •Noranda Mines Ltd | •McCombe Mining & Expl Ltd •Rio Tinto Canadian Expl Ltd. •Bankfield Cons Mines Ltd •Cons Bellekeno Mines Ltd •Asarco Exploration Company of Canada Ltd. •Imperial Oil Enterprises | •Mapping •Drilling •Recovery •Geophysical •Bulk Sample |
1971-1990 | •Conwest Expl Co Ltd •Selco Exploration Co Ltd •Goldwinn Resources Ltd. •Cnd Gold & Metal Inc. •Golden Range Resources Inc •Goldwinn Resources Ltd. •Melrose Resources Ltd | •Teeshin Resources Ltd. •Opawica Explorations Inc. •Villeneuve Resources Ltd •Cream Silver Mines Ltd •007 Precious Metals Inc •Preston Resc Ltd •Norlode Resources Inc | •Recovery •Mapping •Geophysical •Drilling •Bulk Sample |
1991-2010 | •Teck Exploration Ltd. •Valerie Gold Resources Ltd •Placer Dome Inc, •Cameco Gold Inc. •Nwt Copper Mines Ltd | •Rio Fortuna Exploration Corp. •Ontario Expl Corp. •Fortune River Resources Corporation •Champion Bear Resc Ltd •Carina Energy Ltd. | •Mapping •Geophysical •Drilling •Bulk Sample |
2011-Current | •Fortune Tiger Resources Ltd. •Hudson River Minerals Ltd | •Duncastle Gold Corp. •Stillwater Critical Minerals •Heritage Mining Ltd. | •Drilling, Bulk Sample •Mapping •Geophysical •Chip and Channel Sampling •Data Compilation |
