Florence Lake

The Florence Lake property contains high-grade nickel, copper, cobalt & PGE mineralization associated with ultramafic volcanic rocks.

The known mineralization is analogous to Northern Quebec’s Raglan Nickel Mine which has multiple orebodies, or Kambalda mines in Western Australia.

The project is located close to local communities, airports, ports and a ferry service.

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Florence Lake Infrastructure

• Two blocks covering 9,325 ha

• Only 70 km from the towns of Postville and Hopedale

• Regular scheduled flights and ferries

• Allows for supplies to be shipped, project only 25 km from tidewater

• Drilling equipment and supplies can be shipped for huge savings

• VTEM/Geochem & prospecting based out of Postville

• Pre-purchased and shipped camp in late 2022 for 2023 construction, drilling and TDEM surveys

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Florence Lake Geology

Massive and disseminated magmatic Ni-Cu-PGE mineralization related to ultramafic komatiitic volcanics in Archean greenstone belt.

Florence Lake Mineralization

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DDH FLK92-02 at the Baikie Showing:

over 11.32m (including 10.6% nickel over 0.9m) with the deepest hole at -90m

Grab samples returned up to 9.22% nickel, 0.49% copper, 0.23% cobalt, and 1718 ppb Palladium and Platinum.

Resampling historical core and showings confirmed highgrades

Core still available for further work

• Vintage magnetics maps the komatiites, but the survey was widely spaced and flown N-S for uranium

• New 50m line spaced VTEM survey provides better mag, plus sees deep for EM conductors (metals)

• Survey data suggests a large amount of conductivity to investigate, much of it correlates with known sulphide-bearing horizons, but numerous new targets

• Conductors assessed with 2022 systematic geochem and prospecting – multiple new targets identified

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Baikie Nickel Showing

Baikie Nickel Showing Intercepts