Summary:
The True North Gold Deposit is a classical Archean orogenic gold deposit, consisting of quartz-carbonate vein systems hosted by brittle-ductile shear zones and faults in volcanic and sedimentary rocks (greenstones). The deposit is hosted by a north-younging, moderately inclined, succession of volcanic and sedimentary rocks, belonging to the 2.73–2.72 Ga Gem assemblage. At Rice Lake, this assemblage includes volcanic sandstone and conglomerate, tholeiitic basalt flows and gabbro sills and dacitic volcaniclastic rocks, intruded by various felsic porphyry dikes.
All the vein-hosted gold mineralization at True North is hosted within the Townsite Unit of the Bidou Lake Assemblage and within the SAM unit gabbro which intrudes the Townsite Unit. The Bidou Lake Assemblage forms a north-facing stratigraphic sequence of tholeiitic basalt to intermediate volcanic flows, dacite crystal tuffs and breccias overlain by well stratified felsic epiclastic rock interpreted to be of pyroclastic and sedimentary origin. The stratigraphic sequence is intruded by tholeiitic gabbro sills and dykes and felsic porphyry dykes.
In the True North deposit, the gold-bearing quartz veins occur mainly as either “16-type” shear zone veins or “38-type” tensional fracture stockwork veins or, where they intersect, as a combination of the two vein types. The 16-type appear to be fault fill veins with generally higher grades and more continuity, which are laminated with pressure solution seams (stylolites) and trend north-northeast.
Tailings Management Area
The Tailings Management Area (TMA) is located approximately 1-mile (1.6 km) north of the process plant in an area naturally defined by bedrock ridges around the perimeter of a previously flat boggy area. The original ground surface of the bog was near elevation 889 feet above sea level (asl) (271 m asl) (geodetic) with bedrock ridges on the south and west sides up to 920 feet above sea level (asl) (280 m asl) and bounded to the north by bedrock up to elevation 985 feet asl (300 m asl).
The TMA currently consists of eight dykes with a number of the embankments separated by bedrock outcroppings such that they follow an A/B nomenclature. The embankments have been designed and constructed in various stages and phases from 1997 onwards to the most recent raises and improvements completed from 2012 to 2014. The current configuration of the TMA consists of a tailings pond and polishing pond, separated by dyke 7. The west half (approx.) of the tailings pond has reached its capacity, with tailings placed up to the crest of dykes 1, 2, 8, and a portion of dyke 3, while the east half of the tailings pond contains tailings submerged beneath water ranging in depth from less than 3 feet (1m) to several feet (meters). No spillway or low-level outlet structures are present in the TMA. It is understood that the TMA has been designed to safely retain water from the mill discharge, runoff, and storm events.
In order to increase the capacity to retain tailings, the former Operator began development of a new area termed the East Tailings Management Area (ETMA). The ETMA is located directly east of the TMA and currently consists of dyke 9 along its south perimeter, with dyke 6 of the TMA forming the containment along the west side. The natural contours to the north and east provide containment of the remainder of the ETMA.
Dyke 9 has an overall length of nearly 5,000 feet (1,500 m) and at its current constructed elevation, has a height of 10 feet to 13 feet (3m to 4 m). No spillway or low-level outlet structures are present in the ETMA. It is understood that the TMA has been designed to safely retain water from the process plant discharge, runoff, and storm events.
Commodity Production
During the year ended December 31, 2023, the Company completed the clean-out of the mill that had started in December 2022, recovering 478 ounces of gold.
| Commodity | Units | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|
Gold
|
oz
| ....  | .... | .... | .... | 5,653 | 7,299 | 27,877 | 10,187 |
|
Silver
|
oz
| | | | | | | 3,174 | 853 |
|
Gold Equivalent
|
oz
| | | | | | | 27,919 | 10,199 |
All production numbers are expressed as metal in doré.