Coppermine

COPPERMINE

COPPERMINE PROJECT

NUNAVUT, CANADA

Total tenure of approx. 3,685 km2 , with claims centred 70 km southwest of the Hamlet of Kugluktuk.

COPPERMINE PROJECT OVERVIEW

Early-stage exploration project located in the western Kitikmeot Region of Nunavut, 100% owned by Durango.
High-grade copper-silver in volcanic-rocks and stratiform copper-silver in overlying sedimentary rocks.
Outcropping, underexplored mineralization.
Area explored by a number of companies in the 1960’s and Cominco in the 90’s. No follow-up work was conducted until 2015, by Kaizen Discovery.
Acquired in 2023 by Durango Gold.

2015 EXPLORATION BY KAIZEN DISCOVERY

Doubled the confirmed strike length of mineralized basal Rae Group strata to approximately 80 kilometers.
Final hole of program (CP15_DD009) intersected significant copper grades and widths.
Additional staking in 2015 means mineralization is open to the west for 38 km within Kaizen licenses.

PROJECT CLAIMS

Mineral claims cover a total of 3,685 km2.

REGIONAL GEOLOGY

Cross section A-B.

REGIONAL GEOLOGY (A-B SECTION) AND PROSPECTIVITY

Two distinct copper deposit types:

High-grade structurally controlled Cu Hosted in the Coppermine Basalts.
Sediment-hosted Stratiform Cu Hosted in the Upper and Lower Rae Group Neo-Proterozoic sediments.

Additional potential for:

Magmatic PGE-Ni-Cu Hosted in the Muskox ultra-mafic layered intrusion

SEDIMENT-HOSTED STRATIFORM COPPER

Major stratiform copper deposits combine large tonnages with high grades (>2% Cu).
Neoproterozoic rocks host world’s largest and highest grade district (Central African Copperbelt).
Neoproterozoic Rae Group contains disseminated copper sulphides in shale + siltstone: compelling similarities to other major districts.

PREVIOUSLY KNOWN STRATIFORM COPPER EXTENT

District-scale land holding: 2850 km2 of sediments ~115-km strike, ~23 km dip, projection to ~1.2 km depth.
Outcropping copper sulphides.
Unexplored since early 1990s.

Stratiform Cu mineralization in Lower Rae group. Strongly disseminated as well as semi-massive pyrite, chalcopyrite and bornite in dark shales. Cominco notes this mineralization could be traced over a mile along strike.

COPPERMINE FIELDWORK, 2015 CAMPAIGN

July 7th – Positive NIRB screening result received – permits in place for 28 hole drill program.
Early July – Mobilization to site and camp construction. Existing Hope Lake camp site and air strip used to facilitate start-up and logistics. Semi-permanent 20 man camp constructed.
Mid July to Early September – Helicopter supported activities – archaeological baseline study regional prospecting, mapping, drill-program.
Early September – Camp secured for winter months.
Use of local Kugluktuk based contractor, Kikiak Contractors, for hiring. 5 Inuit employees from the Hamlet of Kugluktuk
Prospecting along the outcropping basal Rae along the Coppermine River Group – Rae Group Unconformity
Detailed Mapping of Volcanic-hosted copper showings to evaluate Tundra Licenses and realise 2015 assessment costs

2015 DRILL-PROGRAM

2063 m Total:
- 114 m – Volcanic-hosted Targets.
- 1949 m – Stratiform Sediment-hosted Targets.
Doubled the confirmed strike length of mineralized basal Rae Group strata to approximately 80 kilometers; the system remains open along strike and down dip.
Final hole of program (CP15_DD009) intersected significant copper grades and widths: 29 metres grading 0.57% copper, including a one-metre interval grading more than 3.04%, and a separate six-metre interval grading 1.06% copper.
11 new copper prospects identified.