The Horizon property is located in the southern portion of the Archean Abitibi greenstone belt, where the Parfouru fault separates the Blake River segment to the west from the Malartic segment to the east (Daigneault et al., 2002). The western portion of the property contains the eastern end of the Blake River Group, which manifests as a north-dipping panel with faulted contacts bordered by the sedimentary units of Kewagama to the north and Cadillac to the south (De Souza et al., 2020). The local geology and mineralization styles at Marban Alliance extend onto the Horizon property over approximately 7 kilometres. Notable intercepts from NioGold in this sector include 1.0 g/t Au over 5.1 m (CW-10-013) and 0.2 g/t Au over 30.4 m (CW-10-012) on the W Zone, some 1.5 kilometres northwest of the Malartic H deposit. Additionally, the Horizon property covers the Parfouru and La Pause gold-bearing shears located south and north of the Kewagama sedimentary basin, respectively. The La Pause corridor hosts the historical Camflo mine that produced 1.9 M oz Au at 5.3 g/t Au. Significant intercepts by NioGold along those corridors include 8.2 g/t Au over 3.1 m (CW-11-021), 23.4 g/t Au over 1.0 m (CW-12-083) and 9.1 g/t Au over 2.2 m (CW-12-075). The latter was intersected in a mineralized envelope that returned 0.6 g/t Au over 49.1 m starting at surface.

A high-resolution drone mag survey was completed in March 2022 over most of Horizon with flight lines spaced at 50 metres for a total of 712 linear-kilometres. It was merged with a historical Marban Alliance heliborne mag survey completed by NioGold. A soil geochemistry survey was completed in 2022 (4,411 samples), as well as mapping and channel sampling on historical trenches (284 samples). The first drilling program by O3 Mining was completed in winter 2023 with 15 drill holes totalling 7,344 metres and targeting low-mag features characteristic of the Marban Alliance and Norlartic deposits. The assay results from this program are pending.

The discovery by prospecting of a volcanogenic horizon with an exhalative appearance (named GP-2) in summer 2022 suggests the potential for VMS deposits in the northern part of the Horizon property. The decametric siliceous horizon contains 15% finely laminated pyrite and pyrrhotite, and a grab sample returned 0.7 % Cu, 0.5 g/t Au and 9.4 g/t Ag. The government’s geological maps indicate the presence of felsic volcanics in the area. Claims have been staked to cover the prospective belt to the northwest, up to Malartic Lake, to join O3 Mining’s Heva property. The latter has been since amalgamated into the Horizon project. A VTEM survey (370 km, 100 m spacing) was completed in December 2022, and an IP survey (pole-dipole and gradient) was completed over the winter. The surveys identified weak to moderate anomalies, one of which is 1 kilometre long and coincident with the GP-2 showing. Conceptually, these potential volcanogenic horizons could lead us to a VMS deposit below the VTEM penetration limit (approximately 250 m).

The planned 2H-2023 program will include completing the soil geochemistry coverage, stripping, and about 6,000 m of drilling to test soil geochemistry anomalies from the 2022 survey, extensions of historical intercepts, and the geophysical anomalies at and around the GP-2 showing.