Summary

Mine Type	Open Pit
Study Completed	Preliminary Economic Assessment
Commodities	Gold
Mining Method	Truck & Shovel / Loader
Mine Life	...
Snapshot	The 2018 Preliminary Economic Assessment (PEA) for the Mirado Gold Project considers the only production from a specific area, encompassing approximately five percent of Orecap's Mirado Project. Mirado Mine is a past-producing underground gold mine. PEA is based on using a conventional truck and shovel open pit method to extract this Mineral Resource. No underground mining is envisaged in this assessment. Processing of mineralized material will be carried out on a toll processing basis at an existing nearby external processing facility. December 18, 2025, Kirkland Lake Discoveries Corp. has entered into a definitive agreement to acquire the Mirado Gold Project. KLDC believes that additional drilling and updated geological interpretation could further define and expand mineralization, subject to new drilling and NI 43-101–compliant technical studies.

Deposit type

• Intrusion related

Summary:

At the Mirado project the gold mineralization in the Main zone is primarily associated with stockwork and disseminated sulphides in variably altered rock. The characteristics of the gold mineralization in the Main zone are similar to intrusion-related gold mineralization (Robert et al. 2005). These atypical deposits display similar regional-scale controls as orogenic deposits. They differ in styles of mineralization, metal association, interpreted crustal levels of emplacement, and relative age. Those gold deposits show a close spatial association with high- level porphyry stocks.

The gold mineralization at the Mirado Project that is the subject of the report is mainly associated with the zone historically named the Main Zone (and also referred to as the South zone is some historical reports). The shaft is located in the North zone located approximately 400 m northeast of the pit, but almost all exploration work since the 1960’s has been focused on the Main Zone that is in the vicinity of the open pit.

Mineralization defined in the report forms three lenses north-northwest striking lenses with up to 300 m strike length and widths of 10 to 50 m. The lenses dip west at 45 to 60o and are separated by barren intervals that are 20 to 30 m wide. The strike of the mineralized zones is broadly conformable with the regional northwest lithological and structural trends, however, the dip appears to be discordant to the described lithological trends.

Gold mineralization is structurally controlled and has been identified along north-northwest trending shear zones. North-south trending brittle structures have also been recognized on the property as being favourable for gold mineralization.

Weiershauser and El-Rassi (2013) report that a west-northwest striking shear zone is associated with the Main Zone in the vicinity of the open pit. This shear zone separates massive tuff in the south from tuff with a penetrative planar fabric in the north. North of the shear zone, on the north side of the open pit, agglomerate and lapilli tuff show foliation formed by elongated clasts. The shear zone itself is characterized by tightly spaced cleavage, locally with an oblique mineral lineation. From the Main zone open pit to the North Zone the felsic tuff generally exhibits westnorthwest striking cleavage of varying intensity. The shear zone dips approximately 80 degrees to the north-northeast.

Weiershauser and El-Rassi (2013) also report that a north-northeast-striking fault observed in core (Boreholes MD13-28, MD13-06, MD13-37) appears to coincide with the southeast limits of the main auriferous zone. This fault is characterized by slickensides with chlorite, and broken core and may correlate with a northeast-striking fault with subhorizontal lineation and sinistral sense-of-shear documented on the south side of the open pit.

Gold mineralization in the Main zone commonly occurs in highly silicified fragmental rock with varying amounts of pyrite and subordinate chalcopyrite and sphalerite. Sulphide mineralization occurs as stringers, blebs and disseminations. The distribution of gold is highly variable. The current resource model is based mainly on mineralization envelopes broadly defined by sulphide mineralization.

Weiershauser and El-Rassi (2013) report that some gold occurs at and near the contact with a rhyolite which, based on information from core logging, forms an irregular body on the south side and below the Main zone.

In the North zone, gold mineralization is associated with a series of sulphide, quartz, and quartz carbonate veinlets parallel to the shear zone foliation. The strike continuity of the veins is good.

Bourne (1985) reports that the North zone was mined in five parallel stopes for about 500 feet along strike on the 250 foot level and can be traced for about 1,000 feet along strike. The North zone extends to the 500 foot level and is open at depth.

Mining Methods

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Comminution

Crushers and Mills

Processing

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Commodity Production

Operational metrics

Personnel

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