ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford...
Transcript of ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford...
ORFORD MINING
Orford Mining Corporate Presentation
October 2017
Orford Mining
Disclaimer
2
Cautionary Statement Concerning Forward-Looking Statements
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this presentation.
This presentation contains "forward-looking information" including without limitation statements relating to the liquidity and capital resources of Orford and potential of one or more of the Qiqavik, West Raglan, Jones-Keystone Loflin and Landrum-Faulkner exploration properties.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Orford to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, failure to obtain regulatory or shareholder approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Orford's filings with Canadian securities regulators available on SEDAR at www.sedar.com.
Although Orford has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this presentation and Orford disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
The TSXV has neither approved nor disapproved the contents of this presentation.
Qualified Person and Quality Assurance and Quality Control
The disclosure of scientific and technical information contained in this presentation has been approved by Alger St-Jean, P.Geo, Vice President, Exploration of Orford, a Qualified Person under NI 43-101.
Samples reported in this presentation and indicated as grab, outcrop, sub-outcrop, boulders and float are grab samples. Grab samples are selective by nature and values reported may not be representative of mineralized zones. All drill intervals reported in this presentation are down-hole core lengths as true thicknesses cannot be determined with available information.
The work program at Qiqavik was supervised by Michelle Sciortino, P.Geo, Senior Project Geologist who is responsible for all aspects of the work, including the quality control/quality assurance program. On-site personnel at the project log and weigh all samples prior to sealing and shipping. Sample shipments are sealed and shipped to Techni-Lab, Sainte-Germaine-Boulé, Québec. All gold assays reported were obtained by either 350-g screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish (method 1A2-5 and 1A3-50) at. The 350-g screen assay method is selected by the site geologist or the lab when samples contain coarse gold or higher percentage of sulfide mineralization that may be associated with gold relative to surrounding intervals. All samples are also analyzed for multi-elements, including copper and silver, using a four-acid method with an ICP-EOS and ICP-MS finish at Techi-labs affiliated Actlabs in Ancaster, Ontario. Overlimits were analyzed by peroxide fusion with ICP-EOS finish. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are inserted at a minimum of 10% and 5% for core and grab samples respectively for QA/QC purposes in addition to those inserted by the lab. A subset of samples has not yet been sent for a verification assay at another lab.
Techni-Lab Laboratory, is a subsidiary of Act Labs, is accredited (n. 707) by the Standards Council of Canada and found to comply with the requirements of ISO/IEC 17025:2005 (CAN-P-4E) and CAN-P-1579.
The technical information disclosed herein in respect of the Qiqavik Property is based on the independent report of Clement Dombrowski, P.Geo and Sylvain Desbiens P.Geo. titled “NI 43-101 Technical Report on Qiqavik Project, Northern Quebec, Canada” effective September 14, 2017, and on Orford Mining’s press release of October 26, 2017. The information disclosed herein in respect of the West Raglan Property is based on the independent report of Clement Dombrowski, P.Geo. titled “NI 43-101 Technical Report on West Raglan Project, Northern Quebec, Canada” effective February 20, 2017. The information disclosed herein in respect of the Jones-Keystone/Loflin Option is based on the historic report prepared by Katie Lucas, M.Sc., P.Geo., titled “NI 43-101 Technical Report on the Champion Hills Gold Project, Randolph and Davidson Counties” dated January 17, 2013 and was summarized by Alger St-Jean P. Geo. The information disclosed herein in respect of the Landrum-Faulkner Option was compiled by Carolina Gold Resources from historical company files and was reviewed by Alger St-Jean, P.Geo.
October 2017
Orford Mining October 2017
Orford Mining
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Business Proposition
Orford Mining is a mineral explorer focused on the highly prospective and underexplored Cape
Smith Belt in Northern Quebec and the Carolina Gold Belt in the Southeastern United States
Significant target-rich land position in emerging gold districts
• Qiqavik bears similarity to the Abitibi gold camp (+70 Moz Au), and has camp scale potential
• West Raglan demonstrates analogous geology to Glencore’s Raglan Mine (14.5 Mt @ 3.21% Ni M&I)1
• Earning-in to highly prospective land in the Carolina Gold Belt proximal to the Haile Mine
Focused on politically stable jurisdictions
• Quebec ranked in 2016 as the 8th most attractive global mining jurisdiction by the Fraser Institute
• Recent commissioning of the world class Haile Gold Mine in Carolina
Orford Mining’s Value Creation Strategy
Focus on underexplored regions that bear strong geological similarities and are in close proximity to existing flagship mining operations for major mining producers (Cape Smith Belt – Raglan Mine, Glencore | Carolina Gold Belt – Haile Mine, Oceanagold)
(1) Note: This information is not necessarily indicative of the mineralization on Orford Mining’s properties
Orford Mining October 2017
Orford Mining
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High Quality Exploration Team and Capital Markets-Focused Board
David Christie President, CEO, and Director
> Professional Geologist with more than 30 years of experience in the resource sector
> Current Vice President with Goodman & Company Investment Counsel and Vice President of Dundee Resources Inc.
> Former President, CEO, and Director of Eagle Hill Exploration, mining equity research analyst at TD and Scotia Capital
> Current Director of Osisko Mining Inc., eCobalt Solutions Inc., and Condor Precious Metals (private)
Tim Hollaar CFO
> +20 years of experience in mining industry finance positions
> Served in senior finance and marketing positions with several nickel companies
Alger St-Jean VP Exploration and Director
> Professional Geologist with +20 years of experience in mineral exploration and development
> Current VP Exploration of RNC Minerals and former Senior Geologist at Xstrata Nickel (formerly Falconbridge)
Michelle Sciortino Senior Project Geologist
> Professional Geologist with +10 years of experience in mineral exploration and development
> Current Senior Project Geologist with RNC Minerals
Management Team
Board of Directors
Mark Selby Chairman
> Current President and CEO of RNC Minerals, with +20 years of experience in finance and corporate development at
various companies, including Quadra Mining and Inco Limited
> Former VP Business Planning & Market Research at Quadra Mining
John Leddy Director
> Current VP, Business Development and General Counsel of RNC Minerals, with 20 years of experience as a business
lawyer and in private equity specializing in M&A, capital raising / structuring and other strategic transactions
> Former Partner in Business Law Group (M&A) at Osler
Mark Goodman Director
> Current Executive Vice President and COO of Dundee Corporation and Chairman of Dundee Sustainable Technologies
> Previous CEO of Ryan Gold, Valdez Gold, Cogitore Resources, a base metal exploration company in Northern Quebec
Lawrence Smith Director
> +25 years of experience in investment management, equity research, and banking
> VP Portfolio Management and Research at CIBC Asset Management, Director of Equity Research at Scotia Capital and
Blackmont Capital, and Project Manager – Corporate Development at Rio Algom Limited
> CFA, MBA
Michel Gauthier Director
> Professional Geologist & Fellow of the Society of Economic Geologists with +40 years of experience in mineral deposits
> Current Director of Sphinx Resources and former Vice-Chairman of the Board of Directors of SOQUEM
> Former member of advisory committees to Auditor General of Quebec and Quebec Ministry of Energy and Resources
Orford Mining October 2017
Orford Mining
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Elephant Hunting in Proven, Yet Underexplored Mineral Districts
Carolina Gold Properties Re-emerging gold belt home to the Haile Mine
Qiqavik Gold / West Raglan Emerging polymetallic belt
Meliadine (Agnico Eagle) 3.4 Moz Au at 7.3 g/t in 2P reserves
Haile Gold Mine
(Oceanagold) +2 Moz Au at 2.06 g/t in 2P reserves
Raglan Mine (Glencore) Produces 37 kt of nickel in concentrate annually
Considered one of the richest base metal mines in the world
Orford Mining Properties Major Deposit
Meadowbank (Agnico Eagle) First gold pour in 2010, 2.7 g/t reserve grade
Orford Mining: Next door to flagship operations of major deposits
Hope Bay (TMAC) 3.5 Moz Au at 7.7 g/t in 2P reserves
Note: This information is not necessarily indicative of the mineralization on Orford Mining’s properties
Orford Mining
Qiqavik
Orford Mining October 2017
Qiqavik – A New District?
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Why Cape Smith Belt (“CSB”)?
Northern Cape Smith Belt - Excellent Geological Setting Remains Underexplored
Cape Smith Belt • Qiqavik sits in a Paleoproterozoic
volcano-sedimentary orogenic belt at the margin of the Superior Craton
• Multiple large scale structures with complex geometry are pathways for mineralizing fluids
• The parallel ultramafic “Raglan Belt” has yielded world-class nickel deposits, but the northern volcano-sedimentary portion of the Belt remains virtually unexplored
• Gold districts with similar tectonic and age setting include:
Flin Flon/Snow Lake, Canada
Ashanti Belt, West Africa
Tanami Goldfields, West Australia
Tapajos-Parima Belt, Brazil
• The 40 – km long Qiqavik Break Shear Zone is thought to have focused gold mineralization
Note: The information disclosed herein in respect of the Qiqavik Property is based on the independent report of Clement Dombrowski, P.Geo of IOS Services Geoscientifiques
Inc. titled “NI 43-101 Technical Report on Qiqavik Project, Northern Quebec, Canada” effective February 8, 2017.
Orford Mining October 2017
Qiqavik
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A Newly Discovered High Grade Au/Cu Trend +40 km in Length – Gold Highlights
Orford Mining October 2017
Qiqavik
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Work Completed to Date
$6.7M spent to date on geophysics, prospecting, sampling, and 3272 m of drilling
2017 Work
721 l-km Drone Mag
105 l-km IP
649 Grab Samples
1227 Till Samples
23 Drill Holes=2722m
Orford Mining October 2017
Qiqavik
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Surface Grab Sampling - Extensive Gold Mineralization along 40-km Qiqavik Trend
Orford Mining October 2017
Qiqavik
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Geological Summary: Aurora
Geological Summary Map of Aurora Results on Preliminary Geology
• Multiple high grade surface grab samples ranging from 10 to 189 g/t. Surface channel sample 5.5 g/t over 0.45 m
• Multiple quartz veins up to 30 cm in width parallel to strike
• The granitic unit has been mapped over a 600 m strike length, and is open. Its maximum apparent surface thickness is 75 m
Looking SE
Recent Work1
1.7km
2017 Discoveries
• Aurora Central & Aurora West Discoveries over 1.7km strike, grab sample up to 457.4g/t Au
• Au up to 8.93g/t Au from the Focus Intrusive to SW of the Aurora Zone
Orford Mining October 2017
Qiqavik
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Geological Summary: Esperance, Esperance West and Horizon
Map of Esperance Results on Preliminary Geology
2017 Discoveries
• Esperance West
Extensional Zone
• QK-17-21 7m of
1.59g/t Au and QK-
17-22 2.63g/t Au
over 4m.
• Horizon Channel
Sample 5.62g/t Au
over 90cm
Orford Mining October 2017
Qiqavik
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Central
2017 Discoveries
• Follow up on an
anomalous grab
sample from 2016
resulted in the
discovery of several
high grade Au
showings up to
113.9 g/t Au.
Orford Mining October 2017
Qiqavik
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Gerfaut
2017 Discoveries
• Follow up on an
anomalous till
sample 1km south
of the Falconbridge
hole resulted in the
discovery of several
quartz boulders
with VG grading up
to 285.2g/t Au
Orford Mining October 2017
Qiqavik
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Results and Path Forward
• 2017 drilling supported the subsurface extent of the structures and
the Au mineralization discovered in the 2016 surface gold
discoveries (Esperance, Esperance West, and Aurora)
• The 2017 program illustrated that gold is associated with secondary
splay structures located along the Qiqavik Shear Zone which
extends the full 40 km length of the Qiqavik Property
• Geological data indicates that gold mineralization at Qiqavik
appears to be structurally controlled and associated with porphyry
intrusions in places
• Geological/Geochemical/Geophysical data from the summer 2017
program is currently being studied to identify and locate sites of
dilation along structures that were active at the time of gold
mineralization. This information will be used to target potentially
significant gold mineralization accumulations which tend to vary in
these types of structural settings
Orford Mining
Carolina Gold
Orford Mining October 2017
Carolina Gold Option
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Why Carolina?
• Southern extension of Appalachian Avalon Zone
• Metamorphosed volcano-sedimentary terranes
• Gold: Orogenic, low- and high-sulfidation epithermal gold
• Volcanogenic Massive Sulphides & Porphyry deposits
Proximity to the Haile Mine1 Regional Geology and Setting
Carolina Gold Belt in Appalachians
Haile Mine
• Oceanagold’s flagship operation
Romarco Minerals purchased in August 2015 for US$660M
• Large and high grade reserves at surface
+2.0 Moz Au 2P reserves at ~2.1 g/t Au
+4.8 Moz Au in MI&I resources at ~1.7 g/t Au
Expansion potential through exploration
• Competitive gold margins
Guidance at Haile is 150 – 170 koz in 2017 at US$500/oz AISC
Historical
• First gold rush in North America
• Ridgeway mine (Rio Tinto) produced 1.5 Moz Au
(1) This information is not necessarily indicative of the mineralization on Orford Mining’s properties
Distribution of Avalonian rocks within the Appalachian Orogen (source Foley & Ayuso, 2012)
Orford Mining October 2017
Carolina Gold Option
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Prolific Gold Mineralization
Ridgeway (b)
Kennecott 1988-99
1.5 Moz produced
Haile (c)
OceanaGold
4.8 Moz resource
Brewer (d)
200 koz produced
Barite Hill (a)
Nevada Goldfields 1991-95
60 koz produced
100 km
Coastal Plain sediments (Cret.-Recent)
Basin-fill sedimentary rocks (Triassic)
Greenschist metavolcanic & metasedimentary
rocks (Neoproterozoic-Ordovician)
Amphibolite metasedimentary & metavolcanic
rocks (Early Paleozoic)
Cratonic basement rocks (Proterozoic) covered
by sedimentary rocks (Paleozoic)
Columbia
Landrum/Faulkner Vein/Diss. Gold Deposits
Orford Mining Properties x Important Historic Mines Small Historic Mines & Prospects
Jones-Keystone/Loflin Diss. Gold Deposits
a
b
c d
Raleigh
Note: This information is not necessarily indicative of the mineralization on Orford Mining’s properties Mining
Orford Mining October 2017
Carolina Gold Option
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Proven Mineralization in Prospective Geology
• Orford’s Carolina Gold properties are located at the same stratigraphic horizon (geological level) and in the same rocks as the Haile, Ridgeway and Brewer deposits know as the Band of Gold.
• Historical mining and recent drilling demonstrate gold mineralization on properties.
Stratigraphic correlations of the Carolina terrane (source Foley & Ayuso, 2012)
Haile Mine
Ridgeway Mine
JK Loflin
Landrum-Faulkner
Orford Mining October 2017
Carolina Gold Option
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Jones-Keystone-Loflin Project
0.005 – 0.01
0.01 – 0.025
0.025 – 0.05
0.05 – 0.075
0.075 – 0.10
0.10 – 0.20
0.20 – 0.30
0.30 – 0.40
0.40 – 0.50
0.50 – 1
Soil Gold (ppm)
Significant Mineralization
Weak Mineralization / No data
Mineralization Projected to Surface
Ridgeway
North Pit
(projected)
Ridgeway South Pit
(projected)
Loflin
Jones-
Keystone
Comparison of Scale Jones-Keystone & Loflin Mineralization
relative to
Haile and Ridgeway Gold Deposits
Note: Relative position & orientation
of Ridgeway pits have been modified for
Illustration purposes. Scale is as shown.
Orford Mining October 2017
Carolina Gold Option
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Jones-Keystone Project – Strong, wide mineralization
Area Map: Strong and wide mineralization1 Asset Summary1
Project Name Jones-Keystone
Best
Intercepts
JK11-017: 104 m @ 1.27 g/t
(from 28 m)
JK10-006: 54 m @ 1.56 g/t
(from 184 m)
Ownership
Earn-in to 51%, option to
earn additional 19% (for
total of 70% interest)
Mineralization
Style
Disseminated gold with
pyrite & pyrrhotite in
altered volcano-
sedimentary sequence
Geological
Setting
NE-striking, tabular zones
traceable 850 meters along
strike & open to NE & at
depth
Target Size Drill-defined 850 m strike
length and open
Previous
Drilling
48 core holes in 2010 – 2011
(10,442 m) (1) Note: This is based on historical testwork not completed by Orford Mining
Orford Mining October 2017
Carolina Gold Option
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Jones-Keystone Drilling Highlights and Work Plan
*Averages weighted by length
Jones-Keystone Drilling Details Hole-ID From To Length Au
(m) (m) (m) (g/t)
JK10-006 184 238 54 1.56
including 200 228 28 3.01
including 226 228 2 9.16
JK11-015 28 44 16 0.77
including 32 42 10 1.01
JK11-016 28 88 60 0.45
including 36 46 10 1.14
JK11-017 28 132 104 1.27
including 64 104 40 2.33
including 80 94 14 3.03
JK10-024 82 104 22 1.5
JK11-025 286 324 38 0.78
including 314 324 10 1.53
JK11-026 104 130 26 0.96
including 122 130 8 1.49
JK11-027 120 144 24 0.84
including 126 144 18 1.01
JK11-031 84.3 158 73.7 0.55
including 149 156.5 7.5 1.1
JK11-036 43.5 61.7 18.3 1.16
including 54.5 60.2 5.7 3.18
JK11-047 90.3 104.5 14.2 1.11
JK11-048 103.5 138 34.5 1.14
including 114 138 24 1.52
including 128 132 4 5.53
2017-2018 Work Plan
Nov-Dec 2017
• Mapping, Trenching and IP geophysics, Re-Logging Historical Core at Jones-Keystone and Landrum –Faulkner
Jan-Feb 2018
• Drilling at Jones-Keystone (1000m) and Landrum –Faulkner (500 m)
Orford Mining October 2017
Carolina Gold Option
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Option Agreement Details
• Orford Mining has signed an option agreement with Carolina Gold Resources to earn up to a 70% interest in the Jones-Keystone/Loflin, and Landrum-Faulkner properties
Project Initial Option
Payment Exploration Spend
Annual Option
Payments Additional Spend
Jones / Keystone /
Loflin
$54,000
(half in cash, half in
Orford shares)
$500,000 in the first
year, additional $2.5M
by the fourth year
$25,000 in cash each
year for four years
$4.0M on exploration
and $150k payment in
shares over following
two years
Landrum-Faulkner
$54,000
(half in cash, half in
Orford shares)
$300,000 in the first
year, additional $1.7M
by the fourth year
$25,000 in cash each
year for four years
$2.5M on exploration
and $150k payment in
shares over following
two years
To earn-in to 51% To earn additional
20% (for total of
70%)
Option Agreements by Project
Orford Mining October 2017
Orford Mining
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Corporate Overview
Share Structure1:
Basic Shares Outstanding: 40.9 million
Warrants 8.0 million
Options 0.2 million
Fully Diluted Shares Outstanding: 49.1 million
Large Shareholders: RNC Minerals ~55% Dundee Resources Limited ~29% Market Capitalization1: C$24.5 million Cash and Cash Equivalents2 C$ 6.4 million
1. Shares outstanding, fully diluted shares outstanding, shareholdings and market capitalization as October 30, 2017 2. Cash and Cash Equivalents are Pro-forma as of June 30, 2017
Orford Mining October 2017
Orford Mining
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In Summary
Orford Mining is a mineral explorer focused on the highly prospective and underexplored Cape Smith Belt in Northern Quebec and the Carolina Gold Belt in the Southeastern United States
The Right Address Proven Team Camp Scale
Drill Ready Targets Elephant Hunting
Orford Mining
APPENDIX
Orford Mining October 2017
Qiqavik and West Raglan
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Regional Geology
Syn- to Post Tectonic
Intrusives
Watts Group (1999 Ma)
Ophiolite
Parent & Spartan Groups
(1898 to 1860 Ma)
Spartan: Clastic Fore Arc
Parent: Magmatic Arc
Chukotat (1918 Ma)
Komatiitic to N-Morb Basalts
representing change in rift to
oceanic crust formation
Povungnituk (2038 to 1991
Ma)
Sedimentary and Volcanic
units associated with the
rifting of the Superior Craton
Legend
Orford Mining October 2017
West Raglan
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A Rich Nickel, PGE District
Prolific, Yet Underexplored Region Regional Geology and Setting
Cape Smith Belt
Note: The information disclosed herein in respect of the West Raglan Property is based on the independent report of Clement Dombrowski, P.Geo of IOS Services
Geoscientifiques Inc. titled “NI 43-101 Technical Report on West Raglan Project, Northern Quebec, Canada” effective February 20, 2017.
• Cape Smith Belt host to prolific high grade polymetallic nickel deposits and includes two operating mines: Raglan and Nunavik Nickel
• Raglan ore grades among the highest of significant global nickel deposits (14.5Mt @ 3.21% Ni M&I)1
• West Raglan located 40 km from Glencore’s Raglan Mine Property
Glencore is world’s fifth largest nickel producer
Raglan is a first quartile cash cost operation
(1) This information is not necessarily indicative of the mineralization on ’s properties to be acquired by Orford Mining
Orford Mining October 2017
West Raglan
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Overview of Key Targets1
• Exploration work to date has identified outcropping sulphide mineralization over more than 35 km of strike, many zones have very limited testing
• Magnetic signatures, lithogeochemistry, and geology are the same at Frontier and Raglan
• Southern part of property has magnetic and till anomalies suggestive of Nunavik Mine (South Trend) style mineralization (larger tonnage, high Cu and PGM)
(1) The information disclosed herein in respect of the West Raglan Property is based on the independent report of Clement Dombrowski, P.Geo of IOS Services Geoscientifiques
Inc. titled “NI 43-101 Technical Report on West Raglan Project, Northern Quebec, Canada” effective February 20, 2017.
Orford Mining October 2017
West Raglan
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West Raglan: Frontier Zone
Frontier Zone
High-grade Lenses
• Five key mineralized lens clusters
• 2,500 metre strike extent has five stacked mineralized target horizons
• High-grade (2-3% Ni, 3+ g/t PGE) sulphide lenses outcropping
• High priority targets modelled from BHEM and 3D magnetic inversion suggest vast potential remains above 250 metres depth
Orford Mining October 2017
Carolina Gold Option
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Loflin Project
Area Map: Strong and wide mineralization1 Asset Summary1
Project Name Loflin
Best
Intercepts
LOC90-002: 59 m @ 1.25
g/t (from surface)
LOC10-017: 20 m @ 2.19
g/t (from 26 m)
Ownership
Earn-in to 51%, option to
earn additional 19% (for
total of 70% interest)
Mineralization
Style
Disseminated gold with
pyrite & pyrrhotite in
altered volcano-
sedimentary sequence
Geological
Setting
NE-striking, tabular zone
traceable 450 meters along
strike & open to the NE &
at depth
Target Size Drill-defined 850 m strike
length and open
Previous
Drilling
43 core holes in 1989-1991
and 2010 – 2011 (4,720 m) (1) Note: This is based on historical testwork not completed by Orford Mining
Orford Mining October 2017
Carolina Gold Option
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Jones-Keystone / Loflin Drilling Highlights
*Averages weighted by length
Jones-Keystone Drilling Highlights
Loflin Drilling Highlights
Hole-ID From To Length Au
(m) (m) (m) (g/t)
JK10-006 184 238 54 1.56
including 200 228 28 3.01
including 226 228 2 9.16
JK11-015 28 44 16 0.77
including 32 42 10 1.01
JK11-016 28 88 60 0.45
including 36 46 10 1.14
JK11-017 28 132 104 1.27
including 64 104 40 2.33
including 80 94 14 3.03
JK10-024 82 104 22 1.5
JK11-025 286 324 38 0.78
including 314 324 10 1.53
JK11-026 104 130 26 0.96
including 122 130 8 1.49
JK11-027 120 144 24 0.84
including 126 144 18 1.01
JK11-031 84.3 158 73.7 0.55
including 149 156.5 7.5 1.1
JK11-036 43.5 61.7 18.3 1.16
including 54.5 60.2 5.7 3.18
JK11-047 90.3 104.5 14.2 1.11
JK11-048 103.5 138 34.5 1.14
including 114 138 24 1.52
including 128 132 4 5.53
Hole-ID From To Length Au
(m) (m) (m) (g/t)
LOC90-001 0 97.2 97.2 0.95
LOC90-003 0 16.7 16.7 0.78
LOC91-008 80 110.9 30.9 1.02
LF11-030 0 32 32 1.34
including 25.9 32 6.1 4.13
LF11-037 54.5 74.3 19.8 0.8
LF11-038 75.2 85.5 10.3 1.23
LF11-039 16.8 47.5 30.7 1.12
LF-040 23 38.1 15.1 0.83
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Carolina Gold Option
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Jones-Keystone Details: Hole JK10-006 Loflin Hole Details: LOC90-08
*Averages weighted by length
Hole-ID From To Length Au (g/t)
JK10-006 184 186 2 1.22
JK10-006 186 188 2 0.25
JK10-006 188 190 2 0.14
JK10-006 190 192 2 0.07
JK10-006 192 194 2 0.12
JK10-006 194 196 2 0.2
JK10-006 196 198 2 0.31
JK10-006 198 200 2 0.44
JK10-006 200 202 2 1.04
JK10-006 202 204 2 3.22
JK10-006 204 206 2 2.87
JK10-006 206 208 2 2
JK10-006 208 210 2 1.31
JK10-006 210 212 2 3
JK10-006 212 214 2 1.9
JK10-006 214 216 2 1.53
JK10-006 216 218 2 1.78
JK10-006 218 220 2 2.56
JK10-006 220 222 2 5.25
JK10-006 222 224 2 4.92
JK10-006 224 226 2 1.66
JK10-006 226 228 2 9.16
JK10-006 228 230 2 0.34
JK10-006 230 232 2 0.11
JK10-006 232 234 2 1.31
JK10-006 234 236 2 0.13
JK10-006 236 238 2 0.53
Average 1.75
Hole-ID From To Length Au (g/t)
LOC91-08 80.5 82.0 1.5 2.38
LOC91-08 82.0 83.5 1.5 0.22
LOC91-08 83.5 85.0 1.5 0.71
LOC91-08 85.0 86.6 1.5 1.62
LOC91-08 86.6 88.1 1.5 0.62
LOC91-08 88.1 89.6 1.5 0.33
LOC91-08 89.6 91.1 1.5 0.92
LOC91-08 91.1 92.7 1.5 0.76
LOC91-08 92.7 94.2 1.5 1.10
LOC91-08 94.2 95.7 1.5 1.21
LOC91-08 95.7 97.2 1.5 1.38
LOC91-08 97.2 98.8 1.5 0.79
LOC91-08 98.8 100.3 1.5 2.15
LOC91-08 100.3 101.8 1.5 3.10
LOC91-08 101.8 103.3 1.5 0.37
LOC91-08 103.3 104.9 1.5 1.21
LOC91-08 104.9 106.4 1.5 0.63
LOC91-08 106.4 107.9 1.5 0.13
LOC91-08 107.9 109.4 1.5 0.15
LOC91-08 109.4 110.9 1.5 0.55
Average 1.04
Orford Mining October 2017
Carolina Gold Option
34
Landrum-Faulkner Project
Area Map: Strong and wide mineralization1 Asset Summary1
Project Name Landrum-Faulkner
Best
Intercepts
LM-1: 11.3 m @ 6.1 g/t
(from 119.5 m)
LM-6: 2.4 m @ 20.2 g/t
(from 139.9 m)
Ownership
Earn-in to 51%, option to
earn additional 19% (for
total of 70% interest)
Mineralization
Style
Gold in Qtz veins
(Landrum). Disseminated
gold with Pyritte in altered
volcano-sedimentary
sequence (Faulkner)
Geological
Setting
Near regional contact
between felsic volcanic
rocks & argillites
Target Size
Historic drilling
demonstrates continuity
over 300 m strike and over
100m depth
Previous
Drilling 10 core holes in 1983-1985 (1) Note: This is based on historical testwork not completed by Orford Mining
Orford Mining October 2017
Carolina Gold Option
35
Landrum-Faulkner Drilling and Underground Sampling Highlights
*Averages weighted by length
Hole-ID From To Length Au
(m) (m) (m) (g/t)
LM-1 119.5 130.8 11.3 6.6
LM-2 123.4 131.7 8.2 2.6
LM-6 139.9 142.3 2.4 20.1
LM-6 151.8 153.8 2 6.8
LM-8 122.5 125.7 3.2 1.7
LM-10 232.1 233.9 1.8 0.5
Landrum Drilling Details
(1983-85)
Landrum Underground Channel Sampling
(1981-83)