MAYO LAKE MINERALS AND THE KENO HILL CAMP JULY 2021 - Mayo Lake Minerals Inc.
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MAYO LAKE MINERALS AND THE KENO HILL CAMP JULY 2021
Forward-Looking Statement and Disclaimer Forward-Looking: This Presentation includes certain "forward-looking statements" which are not comprised of historical facts and include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes,” “anticipates,” “expects,” “estimates,” “may,” “could,” “would,” “will,” or “plan,” since forward-looking statements are based on assumptions and address future events and conditions that involve inherent risks and uncertainties. Although these statements are based on information currently available, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this presentation includes, but is not limited to, the Company’s objectives, goals or future plans, statements, acquisition and maintenance of licenses and permits, exploration results, potential mineralization, the estimation of mineral resources, exploration, timing of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations, other indigenous peoples, and owners of surface rights, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, uncertainties and delays in the Company’s anticipated plans to go public on a recognized Canadian Stock Exchange, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, information only applies as of the date of this presentation, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Cautionary Note to United States Readers Concerning Estimates of “Measured,” “Indicated” and “Inferred Mineral Resources”: This presentation uses the terms “Measured,” “Indicated,” and “Inferred Mineral Resources” in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards. United States (US) readers are advised that while such terms are recognized under Canadian securities legislation, the US Securities and Exchange Commission does not recognize these terms. The term “Inferred Mineral Resource” refers to a mineral resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. These estimates are based on limited information and it cannot be assumed that all or any part of an “Inferred Mineral Resource” will be upgraded to a higher classification resource, such as “Indicated” or “Measured,” as a result of continued exploration. Accordingly, an estimate relating to an “Inferred Mineral Resource” is insufficient to allow meaningful application of technical and economic parameters or to enable an evaluation of economic viability. Under Canadian securities legislation, estimates of an “Inferred Mineral Resource” may not form the basis of feasibility or other economic studies. As a result, US readers are cautioned not to assume that all or any part of an “Inferred Mineral Resource” exists, or is economically or legally mineable. Readers are also cautioned not to assume that all or any part of “Measured” or “Indicated Mineral Resources” will ever be converted into “Mineral Reserves” (being the economically mineable part of an “Indicated” or “Measured” Mineral Resource). Confidentiality and Disclaimer: The information contained in this presentation is provided by the Company and its management concerning their respective histories, businesses, properties proposed and real transactions, management personnel and capitalizations and is not to be reproduced in whole or in part in any form, electronic or otherwise, or presented to others, without the express permission from the Company. It is not intended to provide legal, accounting or tax advice and should not be relied upon in that respect. No warranty, representation or guarantee with respect to the accuracy, timeliness or completeness of the information is given. All technical information contained herein has been reviewed and approved by Dr. Vern Rampton, P.Eng. and Mr. Tyrell Sutherland, P. Geo. in their capacity as “qualified persons” under the guidelines of N.I. 43-101. Mayo Lake Minerals Inc. 2
The Keno Hill Camp Excerpts from Great Mining Camps of Canada 1.The History and Geology of the Keno Hill Silver Camp, Yukon Territory; R. J. (Bob) Cathro (2006). The Yukon’s Keno Hill Camp (KHC) was not only Canada's second largest primary silver producer and one of the richest Ag-Pb-Zn vein deposits ever mined in the world, it was also one of the mainstays of the Yukon economy from the 1920s until the early 1960s. It also produced more wealth than the Klondike, one of the richest placer gold districts in the world. The KHC is defined by most geologists as a belt of high-grade silver-lead-zinc rich vein deposits (Keno Hill Style Mineralization; KHSM) approximately 21 km long and 2 to 6.5 km wide that crosses parts of Galena, Keno and Sourdough Hills north and east of Mayo Lake in the Yukon. It extends from the Silver King mine at the west end, to the Caribou Hill mine at the east end. The camp contains 16 important deposits, defined as those that produced over 15.55 t (500,000 oz) of Ag, another 19 that shipped smaller amounts to a smelter, and 35 minor occurrences. The KHC produced a total of 214M Oz of silver between 1913 and 1990 with the Elsa Mine being the second largest producer at 30M Oz., which at today’s prices is approximately US$780M. Mayo Lake Minerals Exploration — Last October, Mayo undertook drilling at the promising Carlin West silver target on its Carlin-Roop property located in the Keno Hill Silver District. The results from Mayo’s drilling plus drilling in 2020 by Mayo’s immediate neighbour to the north of its property, Metallic Minerals (MMG.V) verified the presence of KHSM mineralization throughout the Eastern Sector of the Keno Hill Silver District. In addition, Mayo discovered a second zone of KHSM when drilling its Carlin West silver target. The Keno Hill Camp forms the Central Sector of the Keno Hill Silver District. The following slides reveal more information about the high potential of its Carlin West project. Of particular interest is slide #6 which sets forth the early similarities between Carlin West and the historic Elsa Mine at Keno Hill Caution/Note: It is too early to tell right now; but there is a good probability that Mayo may uncover a new silver deposit at Carlin West with this year’s drilling. Mayo Lake Minerals Inc. 3
Drilling Extends Limits of Keno Hill Style Mineralization
East Keno Hill Silver Belt
Identified Keno Style Mineralization
at eastern end
of historical Keno Camp
Metallic Minerals
• Fox Target — 28m @ 70g AgEq/t,
including 0.8m @1,145g Ag/t;
22m @ 52g AgEq/t, including
0.8m of 684g AgEq/t
• Zone Two Target — 18.3m @ 68g
AgEq/t, including 0.8m @571g
AgEq/t
• UKHM Target — 4.6m @ 254g
AgEq/t, including 0.8m @809g
AgEq/t and 0.8m of 510g Ac Eq/t
• Cobalt Hill Target — 12.2m
@ 28g AgEq/t, including 3.8m
@594g AgEq/t
Mayo Lake Minerals
Only the more significant larger mines are shown
• Carlin East Targets — 2.7m @64g
Ag/t, Including 0.9m @ 124g Ag/t
and 1.0m @ 33g Ag/t
Reference: www.mayolakeminerals.com/news and www.metallic-minerals.com/news
Mayo Lake Minerals Inc. 4
Carlin West 2021 Silver Drill Target
▪ Drill-ready Keno-style silver target at east end of Keno Hill Silver camp
▪ Ag and Cu+Au±Ag priority areas identified for future explorations1
High expectations for high High Grade Silver
grade silver ± gold drill
intersections in 2021 in Soil (g/t)
• Up to 45 g Ag/t in soil within
300m long >15 g Ag/t anomaly
• Anomaly potentially 600m
in total length
• Airborne and ground magnetics
confirm Ag anomaly over of
1km in length
• Strong IP and resistivity indicate
intense mineralization to depth
2020 drill results2
• 2.65m at 64.4g Ag/t, including
0.85m at 124.4g Ag/t
• 1.02m at 33.0g Ag/t
0.85m at 12.8g Ag/t
• Irregular-shaped, 700m long gold Silver Targets 2020-21
in soil anomaly, with values up to
58 ppb Au Diamond Drilling
Along Axis of
1. Based on geochemical and geophysical data Silver Anomaly
2. Weather prematurely terminated drilling;
target not intercepted
Mayo Lake Minerals Inc. 5
Mayo Lake’s Carlin West; Similarities to the Historic Elsa Mine
Historic Elsa Mine Production Carlin West
• Over $780M at Today’s Prices
• From less than 300m strike
• Keno Hill style mineralization ~650m
30Moz Ag produced at ~2105g Ag/t
Key Similarities In Addition to Size
• Bedrock Host — KHQ & Greenstone Carlin West
• Alteration — silification • Ag in soil anomaly overall length of ~600m
• Vein faults contain mineralization • Highly anomalous Ag in soil length of ~300m
• Keno Hill style mineralization
Mayo Lake Minerals Inc. 6
Keno Hill Style Mineralization (KHSM) Discovered at Carlin West
• Structural measurements near WSW ENE
parallel to core axis indicating
drilling was sub parallel to late
structure
• Measurements from MLM20-01
of KHSM in Greenstone suggest
downward projection of a 15m Carlin West Zone
wide IP anomaly Model supported by
• New Zone discovered in
drill hole structural
New
interbedded graphitic schists Zone measurements
and quartzite in DDHs 20-01 and
20-02; 2.65m at 64.4g Ag/t,
including 0.75m at 124.4g Ag/t
• KHSM zone identified in altered
quartzites, 1.02m at 33.0g Ag/t;
and Greenstone, 0.85m at 12.8g
Ag/t
• Projected Carlin West Zone will
be drilled from ENE in 2021
• Drill on-site for drilling in July
• Lithologies similar to Elsa Mine,
with 30Moz Ag @ 61 oz/t
IP Resistivity Profile
Note. This model is an interpretation based on all data available to Mayo Lake Minerals. It can only be confirmed by drilling.
Drill holes did not intercept zones in most receptive lithologies to mineralization. Metres shown are down hole lengths.
Mayo Lake Minerals Inc. 7
Carlin-Roop 2021 Extended Diamond Drilling Plans
2020
• Completed first diamond holes on 600 m long silver
anomaly; Intersected Keno Hill Style mineralization;
• Lithologies similar to Elsa Mine, with 30Moz Ag at 61 oz/t;
• Drilling halted due to inclement weather;
Spring 2021
• Drill in place to complete further drilling on target;
• 500 to 800m drilling to determine exact position and
grade of silver mineralization;
Summer 2021
• Over 1000m of drilling and trenching planned on
additional prospects, to the west and north of Carlin West;
Fall 2021
• Scout drilling on multiple other targets throughout the
property
Mayo Lake Minerals Inc. 8
The View from Keno Hill
Photo by
Dr. C.F. Gleeson
Geological Survey
of Canada (1965)
Mayo Lake Minerals Inc. 9
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