Meråker Geology and Mineralization

The Meråker property is aligned in such a way as to cover two separate mineralized trends: one within the Kjølhaug Group and a second within the Fondsjø Group. As such, the majority of property is underlain by the two groups, along with the intervening Sulåmo Group.

The overall dip of stratigraphy is towards the west-northwest; thus the eastern and southern portions of the property are structurally lowest, and are underlain by sandstone, slate, conglomerate and greywacke of the Kjølhaug Group. Sedimentary layering is visible and generally banded on a cm to dm scale, with alternating greywacke and schist bands common throughout the area. Carbonate cement is present but rare in the greywacke units. Extensive gabbro sills are also present, generally with a strike parallel to host stratigraphy. The contact of this unit with the structurally overlying Sulåmo Group is interpreted to be tectonic. The Gilså, Lillefjell, and Anna-Ebba-Duddu showings are located within this horizon, at roughly the same stratigraphic level ~ 1 km east of the contact with the overlying Sulåmo Group.

The southwestern and central parts of the property are underlain by the Sulåmo Group, dominated by slate, sandstone, mica schist and conglomerate with minor basalt. Recorded mineralization is much sparser within this group, with only a handful of historical showings. The only significant results from modern sampling within this group are from showings in a basaltic horizon near the contact with the Kjølhaug Group. This horizon has been termed the Turifoss Greenstone by previous workers, and can be traced for 20 km of strike length (8 km of which lie within the property) with a thickness of ~1 km. It is this unit which is in tectonic contact with the Kjølhaug Group. The western edge of the Sulåmo Group is defined by a 10 m thick conglomerate unit, interpreted be a basal conglomerate and taken as evidence for the overturned nature of the stratigraphy in the area.

The northwestern portion of the property is underlain by the Fondsjø Group, composed of basalt, co-magmatic dykes and gabbro (simply termed “greenstone” in much of the historic mapping) intruded by tonalitic rocks. Structurally overlying this sequence is a series of felsic volcanic rocks, which are in turn overlain by tuffaceous sediments with interlayered pillow basalt and felsic pyroclastic rocks. A string of historic showings is present at the same stratigraphic level as the felsic volcanic rocks, with the most significant being Mannfjell and Fonnfjell.

Target Description

Lillefjell

This target is defined by several pits and an old copper mine. The length from the edge of the prospects is 800m. Sampling the bedrock and dumps show grades up to: 8.01% Cu; 17.55% Zn; 2542 ppb Au; 34.4 g/t Ag. Cobalt is also anomalous, up to 410 ppm Co.

Mannfjell

Mannfjell target includes two small pits and an underground zinc mine. Mannfjell sampling data from bedrock and dumps show grades up to 4.01% Cu; >10% Zn and up to 3745 ppb Au; 157.2 g/t Ag.

Fonnfjell

Fonnfjell target consists of a cluster of five old Cu-Zn mines and three prospects. The mine productions are reported in (Figure 1). The NGU bedrock sampling reveals grades up to 5.57% Cu; up to 10% Zn, up to 2135 ppb Au and 117 g/t Ag at Øytrø that is the most anomalous gold mineralization besides Lovlibekk, on the property.

Gilså

Gilså target corresponds to an old underground mine of massive sulphides. The bedrock sampling shows grades up to 8.5% Cu; and up to 7.49% Zn, but systematically above 2.79% Zn. Some samples are anomalous in gold that can reach to 536 ppb Au and 30.3 g/t Ag.

Dronningen

Dronningen target includes three prospects, a small open pit and an underground copper mine. The bedrock and pit sampling of the mineralization shows grades up to 8.87% Cu; 0.62% Zn; 285 ppb Au and 17.7 g/t Ag.

Ebba-Vaeråsvollen

Ebba-Vaeråsvollen target covers an extensive area with eight mineral prospects aligned along 3.1 Km. The bedrock samples show grades up to 12.39% Cu; 25.91% Zn; 561 g/t Co and up to 1396 ppb Au; 472 g/t Ag.

Langsundgruva

Langsundgruva target is defined by four prospects and an underground semi-massive sulphides mine. Sampling of bedrock and dumps reveal grades up to 6.30% Cu; 19.28% Zn; 24.4 g/t Ag and 229 g/t Co.

Torsbjørk

This target consists of an underground Zn-Cu mine with semi-massive sulphides. The bedrock samples taken, show grades of up to 6.60% Cu; 2.58% Zn; 30.9 g/t Ag and 292 g/t Co.

Krogstadåa

This target includes two prospects, approximately 1,250m from apart. Some limited bedrock sampling show grades up to 5.01% Cu; >10% Zn and up to 24.3 g/t Ag; 336ppb Au.

Svartåtjern

The target of Svartåtjern consists of several mineralization occurrences in a pit suggesting previous mining. The assays at from bedrock and dumps shows up to 3.77% Cu; 0.12% Zn; 30 g/t Ag and 467 ppb Au.

Bjørnbeken

Bjørnbeken target corresponds to a copper occurrence without assessment or evaluation.

Reference: 2021 Technical Report on the Meråker Project by David Swanton, M.Sc., P.Geo. dated January 26, 2021