Summary

Mine Type	Underground
Stage	Construction
Commodities	Copper Nickel Gold Silver Cobalt Platinum Palladium
Mining Method	Mechanized Cut & Fill
Backfill type	...
Mine Life	...
Snapshot	The Victoria project involves the construction of an copper and nickel mine, currently in the pre-operational phase. The main ore type is copper-nickel, with associated metals including gold, platinum and palladium. End product is copper, nickel and precious metals ore. Base scenario assumes a two-stage development: first, sinking an initial shaft with additional exploration; second, construction of a production shaft. Work is ongoing, including sinking the exploration shaft as part of the Advanced Exploration phase to define the grade of the mineral resources. The plan includes two shafts to access the deposit, a production shaft and a ventilation shaft. By Q4 2024, shaft excavation had reached around 760 meters, with underground stations completed at the 300L and 600L levels. Surface work included drainage systems, a mine water reservoir, workshop, warehouse construction, and preparation for a second waste rock dump. Engineering and stakeholder engagement also progressed.

Deposit type

• Footwall hosted
• Breccia pipe / Stockwork

Summary:

The Victoria property is situated at the junction of the SIC and the Worthington quartz diorite Offset Dyke, approximately 6.5 km northeast of Totten property. Other mineralized locations are known along the Worthington Offset between the Victoria property and the Totten Deposit. Two of these, the adjacent McIntyre deposit and the AER/Kidd Copper property, located 3 km further southwest from the Victoria property, were the objects of small mining operations.

Within the property, both the footwall contact of the SIC and the Worthington Offset Dyke dip steeply. Both intrude sheared and metamorphosed mafic volcanic and sedimentary rocks of the Stobie Formation. Zones of Sudbury Breccia occur throughout the property as discontinuous lenses. Late quartz diabase and olivine diabase dykes cross-cut all lithologies. Two dominant structural shear directions, one set trending northwest-southeast and the other trending northeast-southwest, have been defined and these control the distribution of mineralization on the property.

The Cu-Ni-PGM sulphide mineralization at the Victoria property is characterized by a complex assemblage of irregular lenses of chalcopyrite, pentlandite and pyrrhotite. The lenses dip and plunge steeply and are typically pipe-like. The complex structural features of the property have caused remobilization of the sulphides and control the lateral extent and dimensions of the mineralization.

Numerous zones of Cu-Ni-PGM mineralization are present on the Victoria property and four of these, the No. 4 Zone; West Zone; No. 1 West and No. 2 West Zones, have been mined. In addition to the above, there are several other known mineralized zones on the property which have not been the focus of historical production. These include the Far West Zone, the East Zone, the Dyke Zone, and the newly discovered Powerline Zone.

Mining Methods

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Comminution

Crushers and Mills

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Processing

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Commodity Production

Operational metrics

Personnel

Job Title	Name	Profile	Ref. Date
.......................	.......................		May 29, 2025
.......................	.......................		May 29, 2025
.......................	.......................		May 23, 2025
.......................	.......................		May 23, 2025

Employees	Year
......	2019