Ajax is an alkalic copper-gold porphyry deposit hosted within the Iron Mask Batholith. Mineralization extends to depths exceeding 700 m, widths exceeding 1,000 m, and has a strike length that exceeds 2,000 m. The mineralization in the project area is associated with structural corridors of highly fractured and albite-altered sections of Sugarloaf Diorite (SLD) and Sugarloaf Volcanic Hybrid (SVHYB) units.

Chalcopyrite is the dominant copper mineral and occurs as veins, veinlets, fracture fillings, disseminations and isolated blebs in the host rock. This mineralization appears to have greater concentration within the Sugarloaf units near the contact with the Iron Mask Hybrid (IMH) unit. Accessory sulphide minerals include pyrite and molybdenite.

Gold mineralization is common and has a significant correlation with copper, but is very finegrained and visible gold has not been observed in the core. Gold mineralization increases slightly in areas where strong albite alteration occurs.

Minor palladium mineralization is associated with copper near the contacts of the IMH and SLD units. Minor amounts of silver have also been found.

The proposed mine plan envisages a conventional open pit operation producing 65,000 t/d of ore to the processing facility. The pit has been designed to be developed in seven phases. The ultimate pit will be approximately 2.7 km in an east-west direction and approximately 1.3 km in a north-south direction.

A conventional truck and shovel fleet will be used to mine 15 m benches. Drilling and blasting will be required. Horizontal drains are proposed as the primary means to depressurize the pit slope. In-pit water will be removed by way of ditches, pipes, sumps, pumps, and booster pumps.

The Ajax process plant is designed to process 23,725,000 dry tonnes of a copper-gold ore annually, or 65,000 t/d, producing approximately 250,000 dry tonnes of concentrate per year. The process design allows to produce a combined copper-gold concentrate at 25% Cu and 16.4 g/t Au.

The processing plant will consist of stage-wise crushing and grinding, followed by flotation processes to recover and upgrade copper from the feed ores. A gravity circuit will be included within the flotation circuit to enhance overall gold recovery. The the flotation concentrate will be thickened, filtered, and sent to the concentrate stockpile for loadout and subsequent shipment to smelters.

The final flotation tailings will be thickened and pumped into a tailings storage facility (TSF). Main process water will be recovered from the tailings thickener overflow in conjunction with reclaimed water from the barge at the tailings pond in TSF to the plant. Fresh water will be used for pump ........