Sunrise Lake: Highly Prospective Polymetallic VMS Project
Sunrise Lake
NWT’s Premier Volcanogenic Massive Sulphide Opportunity
A highly prospective polymetallic volcanogenic massive sulfide (VMS) deposit with a historic resource estimate and significant potential for verification and expansion through modern exploration techniques.
Polymetallic VMS Potential
A VMS System with 26.7 Million Ounces of Silver, 450 Million Pounds of Zinc and 190 Million Pounds of Lead*
Located approximately 130 km east-northeast of Yellowknife in the Northwest Territories, the Sunrise Lake Project is a high-grade polymetallic Volcanogenic Massive Sulfide (VMS) deposit. The project boasts a substantial historic resource characterized by exceptional precious and base metal grades, and remains open down plunge, presenting an excellent opportunity for expansion.
*Disclaimer: The historic data and resource estimates presented here are based on a 2003 technical report. They have not been verified by a Qualified Person to meet current NI 43-101 standards and should not be relied upon as current mineral resources.
Key Highlights
12.8 Moz Ag equivalent at 262 g/t Ag (Indicated)
13.9 Moz Ag equivalent at 169 g/t Ag (Inferred)
21,774 meters of drilling data
Numerous exploration targets identified
Minimal annual lease payments
Property Details
- Drilling:
- Defined by 21,774 meters of drilling
Exploration
- Size: Six contiguous mining leases totaling 1,621 hectares
- Lease Terms:
- Annual lease payments of approximately $8,000
- No minimum work commitments
Resource Estimate
SRK Consulting
INDICATED
4.2% Zinc
0.6% Lead
0.5% Copper
130 g/t Silver
0.3 g/t Gold
INFERRED
3.0% Zinc
0.5% Lead
0.4%Copper
100 g/t Silver
0.2 g/t Gold
COMBINED Resources
Historic Mineral Resource Estimate
(1) The mineral resource estimate quoted above was prepared by Roscoe Postle Associates Inc. for Silver Standard Resources Inc. in 2003. It is classed as a historic mineral resource estimate. A qualified person has not done sufficient work to classify this historic tonnage estimate as a current mineral resource and the Company is not treating the estimate as a current mineral resource. The historic resource estimate cannot be relied upon. Additional work, including verification drilling / sampling and remodeling, will be required to verify the estimate as a current mineral resource. In addition, the assessment of economic viability would need to be redone using current or foreseeable metals prices, which are higher than those used in the 2003 estimate.
Resources in this historical resource estimate were estimated using a classical polygonal method. Intercepts were composited primarily using a geological cut-off based on the sulphide content and a nominal 30 g/t Ag grade. Internal values below 30 g/t were included for geological continuity if the composite remained above cut-off. The following metals prices were assumed: silver US$5.50 per ounce; gold US$400 per ounce; zinc US$0.45 per pound; lead US$0.25 per pound; and copper US$0.80 per pound.
A portion of the mineral resource at Sunrise Lake is not compliant with NI 43-101 guidelines due to missing QA/QC data and density measurements in the historic data base. QA/AC and density questions could be addressed by twinning a limited number of significant historic mineralized intercepts.