The Edleston Project is located approximately 60km via road to the south of Timmins, Ontario. The region is home to significant former and current producers, with all required services and skilled labour available to support exploration and development of the Project. Ontario is world renowned as a mining-friendly jurisdiction.

The Young-Davidson Mine is located to the east and Cote Lake Deposit to the West. The Cadillac – Larder Lake Fault zone where the Project is located within has produced ~75Moz of gold. Within the broader Abitibi Greenstone Belt, a total of 180Moz of gold has been produced since gold was first discovered in the belt in the early 1900’s.

Edleston Project

Geology and Mineralisation

Edleston is located within the Abitibi Greenstone Belt of Archean metavolcanic and metasedimentary assemblages which have been steeply folded with the axes trending in a general east-west direction. These have been intruded mainly by large granitic bodies and by masses of mafic and ultramafic rocks and well as several ages of younger dolerite dykes. The Abitibi Greenstone Belt extends from north-eastern Ontario and northern Quebec for over 800km.

Regionally the Project is located within the western extension of the Cadillac-Larder Fault Zone along which a number of major gold deposits and mines are located. The occurrence of a Timiskaming conglomerate, similar to that occurring at Kirkland Lake, at several places within the eastern extent of the Project supports this view.

The host lithology is an altered and sheared ultramafic that exhibits extensive silicification and contains abundant quartz-carbonate veins, veinlets and fracture fill. This host unit extends over 10km to the east of the drilled area.

Mineralisation is broadly distributed throughout this lithology as pyrite in ranges of 3 to 5% with trace chalcopyrite and occasional visible gold. Intercalated volcanic and metasedimentary units lie to the north and south of the Edleston mineralised zone.

Inversion model of magnetics identified a vast nickel target

Within Edleston, the Boomerang Target, a dunite/peridotite unit has undergone extensive serpentinisation. This process converts olivine to magnetite and brucite, releasing the nickel which is typically partitioned into low sulphur nickel sulphide minerals. Initial analysis shows that 93% liberation of nickel is possible with conventional processing methods.

Due to the magnetite association with mineralisation, a 3D inversion model of magnetics has been generated and has been utilised to assist with targeting. This model indicates that Boomerang is a vast target, extending for a strike of ~6,5000 metres, a width of 500 to >1,500 metres, and a depth of well over 500 metres.

Cross Section of Bardwell

To date, drill intersections have corroborated the model with a high degree of accuracy, suggesting this a nickel target of potentially international significance.

Gold prospectivity at Sirola

Along strike 1.5km to the east of the drill defined Edleston Zone is the Sirola Zone which exhibits identical geology and mineralisation and contains some of the only exposed outcrops in the region. Outcrops consist of an altered reddish feldspar porphyry which lies in contact with mineralised ultramafic volcanic. These formations have a general strike of 100 degrees azimuth with a steep dip and are generally sheared and highly altered by carbonatization and silicification.

Extensive gold mineralisation has also been delineated by 156 diamond drill holes for >46,000m of drilling across a strike length of 540m and a maximum depth of ~500m.

Multiple significant high-grade drilling intercepts include:

  • 5.3m at 81.39 g/t Au from 110m
    including: 0.9m at 433.97 g/t Au from 115.4m
  • 5.3m at 57.4 g/t Au from 207.4m
    Including: 0.35m at 540.3 g/t Au from 208.3m
  • 0.5m at 94.24 g/t Au from 275.15m
  • 1.7m at 90.29 g/t Au from 209m
    Including: 0.6m at 253 g/t Au from 210.1m
  • 3.44m at 25.85g/t Au from 107.66m

A corridor of >3,300m strike that has been defined by multiple IP targets is yet to be drill tested, with numerous walk-up priority drill targets defined. In total there is over 10km of prospective geological strike within Aston’s tenure.

Priority of drilling has transitioned to the Boomerang nickel target as we await further gold assay results. Results will be interpretated in conjunction with the historical drilling in order to plan out further exploration. A multitude of batches of assays are pending from the Prospects.

Other Projects

Slovak Cobalt-Nickel-Copper Portfolio

With the sustained subdued cobalt market and concerns regarding the safety of contractors and stakeholders, all non-essential work continues to be deferred indefinitely at the Dobsina Cobalt Project. The Company will continue to incur expenditure to ensure tenure remains in good standing for the foreseeable future. Work continues to be limited to ongoing desktop evaluation of existing geochemical and geophysical datasets.

Jouhineva Cobalt-Copper Gold Project, Finland

A minimum expenditure drilling campaign is proposed to be undertaken as a requirement of retaining the Project. Due to the current COVID-19 pandemic, it is currently envisaged that this program will be undertaken when deemed safe to do so. Any such program will be completed under the proviso that it meets all relevant Finnish government legislation and World Health Organisation guidance. Further updates will be provided to the market around the program and its respective timing upon finalisation of the work program.

Swedish Cobalt-Copper- Nickel-Gold Project Portfolio

The Company entered into an exclusive option agreement on 10 December 2019 to divest two of its Swedish licences, Ekedal and Ruda. An evaluation of the Company’s remaining Swedish assets, Basinge Project, is underway to determine the merit of retaining the Project, and if so, appropriate work programs to progress the development of the Project.