55 North Mining Highlights:
- High Grade Gold Resource:
- Last Hope Gold Project: at a 1.8 g/t cut-off: Indicated of 213,352 tonnes grading 5.53 g/t for 37,966 ounces, Inferred of 1,106,787 tonnes grading 5.17 g/t for 184,120 ounces.
- Exploration Upside:
- Open down plunge and along strike to the SE.
- 10 km south of Alamos Gold’s Lynn Lake Gold Project, currently being permitted:
- Potential for: a) toll milling, or b) as a satellite deposit
- Safe and Mining-Friendly Jurisdiction/Good Infrastructure:
- Lynn Lake gold mining camp in northern Manitoba has good infrastructure: low cost hydroelectric power, connections to an extensive road and rail network, jet aircraft capable airport with 5,000 ft. paved runway, abundant water sources.
- Management Experience and Expertise in the Camp:
- Acquired, explored, developed and then sold the Lynn Lake Gold Project in 2016 to Alamos Gold.
- Post-financing, the pro-forma EV/resource ounce is expected to be ~US$50/oz, significantly below current market valuations of peer companies.