Grassroots Prospecting & Mineral Prospect Generation

Highlights:

-13 Km east of historic Point Leamington Deposit (PLD)

-Alteration/mineralization indicate prospectivity for VMS

-Up to 346 ppb Au, > .22% Zn, 0.63% Cu and 4.1 g/t Ag

-PLD has NI 43-101 of 14,100,000 tonnes grading 1.86 % Zn, 0.42%

The Nanny Bag Lake Property comprises 2 separate licenses located approximately 10 km south of the town of Point Leamington. The property is accessible from woods roads off Highway 350, just east of the property, which connects the TCH at Bishop’s Falls to Point Leamington (Maps 1 and 2). (NTS 2E/06) (Map 1).

Regional Geology

The Nanny Bag Lake Property lies within the structurally complex, northeastern Exploits subzone (Dunnage Zone) of central Newfoundland. The property covers a large felsic volcanic-intrusive complex centred on Nanny Bag Lake that is part of the Cambro-Ordovician ophiolitic Wild Bight Group. Felsic volcanic rocks elsewhere in the Wild Bight Group host significant massive sulphide deposits and occurrences including the Point Leamington Deposit, Lockport Mine and Seal Bay Prospect. The Badger Group present mostly in the eastern part of the property, comprises a mid-Ordovician to early Silurian shale-turbidite sequence.

Local Geology

The northern licenses are underlain mainly by the Glovers Harbour and Sparrow Cove formations of the Wild Bight Group. The southern license is mainly underlain by the Penny’s Brook Formation of the Wild Bight Group. The latter consists of a bimodal tholeiitic volcanic suite of mafic pillowed and pyroclastic rocks and intermediate to felsic, quartz and feldspar phyric fragmental and flow rocks. The Penny’s Brook Formation comprises mainly siliciclastics, interbedded with volcaniclastic units and, locally, pillow basalts. The Glovers Harbour Formation is bounded to the north east (overlain by?) an extensive sequence of siliciclastics and black shale, perhaps representing a post volcanic basin infill. The Penny’s Brook Formation is commonly recognized as overlying the Glovers Harbour Formation and is considered the upper part of an underlying thrust slice. The repetition of stratigraphy and fault bounding of units is characteristic of thrust stack terrains. These mafic to felsic volcanics have associated gabbroic and granitoid intrusions. The Badger Group consists of Ordovician to Silurian shale-turbidite sequence

Previous Work and Mineralization

There are two historic mineral occurrences on the property, viz the Big Asco Pond Pyrite and the New Bay River Cu-Zn-Au showings (Map 2). The Big Asco ocurrence is underlain by felsic pyroclastics of the Penny's Brook Formation. Mineralization consists of disseminated pyrite hosted by felsic volcanic rocks over an extensive area. At the New Bay River Cu Showing, samples collected during Rubicon’s late 1990’s exploration program, were weakly mineralized with pyrite and five of the samples contained trace amounts of chalcopyrite and sphalerite. One sample, which contained anomalous gold (346 ppb Au) consisted of jasper, hematite and silica (Singh, 2000). Other assays returned > .22% Zn, up to 0.63% Cu and 4.1 g/t Ag. Rubicon carried out a drilling campaign to follow up on EM targets. DDH LL2000-06 intersected grey chert with magnitite but this was not assayed. DDH LL2000-07 intersected 1.6 m of 1415 ppb Au including 3041ppb Au over 0.6 m, contained in grey chert with magnitite. Anomolous Au was intersected from 48.1 to 63.9 m ranging from 12 ppb to 3014 ppb Au. Neither hole satisfactorily explained the EM conductor being followed up. DDHs LL2000-13,14: these holes tested a limited area of a large IP anomaly with at least a 2 km extent, coincident with the west edge of a large magnetic high. Both holes encountered altered and mineralized quartz porphyry and quartz-feldspar porphyry. Alteration and mineralization continued to the end of the holes - 424 m and 153 m respct. These holes intersected extensive zones of 3-10% sulphides including py+/-po+/-cpy+/-sp in fractures, stringers, patchy concentrations and disseminations and included values up to 9898 ppm Cu, over 0.7 m and 2456 ppm Zn, over 0.7 m. The Nanny grid was emplaced after zinc rich mineralization (1-3% Zn, and up to 1.2 g/t Au and 38g/t Ag in grab samples) was discovered. Both holes were collared at the same location. Other EM conductors were not followed up by Rubicon.

Exploration Model

The property lies approx 13 km to the east of the Mining Lease covering the Point Leamington Deposit, which represents the largest accumulation of massive sulphides in the Canadian Appalachians, outside the Bathurst Camp.There are many similarities in the geological setting of the Nanny Bag Lake property with the geology of the Point Leamington massive sulphide deposit, including, i) a prevalence of massive and clastic (brecciated) quartz porphyritic rhyolite and felsic intrusives; ii) presence of extensive hematitic volcanic and volcaniclastic rocks within the quartz porphyritic rocks and may be the peripheral part of an alteration system; iii) locally mixed felsic volcanic/volcaniclastic sequences host chert-jasper and sulphide-rich beds; iv) extensive areas of quartz-sericite-pyrite alteration typical of footwall alteration zones (2 zones of Zn-bearing mineralization were discovered by Rubicon Minerals (McVeigh, 2001)associated with this alteration. The Point Leamington Deposit: The Point Leamington mineralization is a large, felsic-hosted, gold-rich, Zn-Au-Cu-Ag massive sulphide deposit in a nearsurface zone along a 500 m strike length and to depths of 360 m. The most important rock type in the area from an exploration viewpoint is a quartz porphyritic rhyolite occurring as flows and pyroclastics. Much exploration has been carried out culminating in an NI 43-101 Inferred Resource Estimate by Calibre Mining Corp in 2013 at a cut-off grade of 4.0% ZnEq, of 14,100,000 tonnes grading 1.86 % Zn, 0.42% Cu, 0.02% Pb, 1.07 g/t Au and 17.12 g/t Ag (6.15% ZnEq) containing 577M lb zinc, 130M lb, copper, 6.2M lb lead, 484,000 oz Au and 7,755,000 oz Ag. The property was bought out by Newmarket Gold in 2014 who intersected up to 40 m of massive sulphide mineralization and returned a number of intercepts including 13.38 m grading 2.5 g/t Au, 2.44% Zn and 0.90% Cu (PL14-079) and 10.57 m grading 1.0 g/t Au, 4.60% Zn and 0.39% Cu (PL14-078).

Geology Source:

Crisby-Whittle, L. V. J. (compiler): 2012: Bedrock geology dataset for the Island of Newfoundland. Newfoundland and Labrador Department of Natural Resources, Geological Survey, Open File NFLD/2616 version 7.0. Mineral Occurrence Source: Mineral Occurrence Database - Geological Survey, Department of Natural Resources Website: http://www.gov.nl.ca/mines&en/geosurvey

The 100% owned Hungry pond Au-Cu-Ag property has been acquired by Grassroots through a prospector map staking arrangement.

The Hungry pond Au-Cu-Ag property is located 22km northeast of the town of Gander and adjacent to the Altius Minerals Wings Pond shear zone Au project. Wings Pond shear zone hosts widespread gold mineralization grading up to 12.2 g/t. the Au occurs within quartz veins cutting metasedimentary rocks of the Gander Group

The Hungry pond property is located in the gander group of sediments and has received no prior exploration attention on record. The property is situated over a currently unexplained magnetic high that appears to interconnect large granite intrusions to the south and north (see fig. mag map left). The north and south Pegmatite granite host several occurrences of beryl, amethyst, Mo, and Sn mineralization.

Past prospecting highlights on the property include a soil survey in 2013 where 16 out of 28 or 57% of Horz. B soil samples taken returned Au above the detection limit of 5 ppb with the highest sample returning 83 ppb Au. A stream HMC sample returned 3240ppb Au and contained VG in the pan which was removed before assaying. A bedrock grab sample on the property returned Ag up to 6.7ppm, Cu up to 735ppm, As up to 158ppm, & Bi up to 136ppm.  

Grassroots 2017 field season plans for this property include expansion on detailed prospecting & soil sampling completed to date.

The 100% owned Traverse Au property has been acquired by Grassroots through a prospector map staking arrangement.

The Traverse Au property is located 18km northeast of the town of Gander and is situated between the Gander River Ultrabasic Belt (GRUB) of rocks and the Altius Minerals Gold project known as the “Wings Pond Shear Zone” which hosts widespread gold mineralization grading up to 12.2 g/t Au within quartz veins cutting metasedimentary rocks of the Gander Group.

Gander River Ultrabasic Belt (GRUB, Blackwood, 1980) is comprising of an undated complex package of ultramafic, mafic and felsic rocks. The 1980’s saw an emphasis on gold exploration along the GRUB Line, spurred on by the discovery of a lode-gold prospect at Deer Cove on the Baie Verte Peninsula a similar mineralizing environment. The style of mineralization at Deer Cove is analogous to the Mother Lode Belt in California where the listwaenite alteration model invokes the development of gold veins in and adjacent to thrusts and reverse and normal faults.(Pilgrim 2006)

The traverse property is located in the gander group of sediments and has received no prior exploration attention on record. The property is situated over a currently unexplained magnetic high that appears to interconnect large granite intrusions to the south and north (see fig. mag map left). The north and south Pegmatite granite host several occurrences of beryl, amethyst, Mo, and Sn mineralization.

To date Grassroots has completed prospecting, soil and HMC till sampling outlining an area of elevated to highly anomalous Au. Several areas of mineralized gossans are also noted in outcrop.  Soil & rock sampling has also assayed with elevated to anomalous intrusion related elements including Mo, Sn, & W indicating the presents of a local unexposed/undiscovered intrusive source nearby. Other areas have returned anomalous ultramafic elements including Ni, Cr, & Fe. Prospecting has uncovered several listwaneite/virginite float boulders through the area. Gov. Mapping has noted slivers of ultramafic units throughout the gander group bedrock sequence.

Highlights include HMC Au values up to 10,500ppb. Bedrock grab samples  with Au up to 23ppb, Ag up to 1.2ppm, Cu up to 535ppm, Mo >220ppm, Ni >1100 & Pb up to 173ppm.   

 Grassroots 2017 field season plans for this property include advancement through detailed prospecting, soil, till, & HMC sampling with a goal to identify the most prospective target areas for advancement.