EMX holds a 2% NSR royalty on the Tartan Lake Gold Mine Project which covers a 2,670-hectare land package located within the Flin Flon greenstone belt of northern Manitoba. Gold mineralization at Tartan Lake is associated with anastomosing quartz-carbonate veins hosted in east-west striking, steeply dipping shear zones up to 30 meters in width. The veins vary from several centimeters to several meters in width and gold grades vary from 1.0 to over 100 g/t.
The property is currently owned and operated by Satori Resources Inc. (TSX-V: BUD; “Satori”). Historical production from Tartan Lake Mine between 1986 and 1989 totaled 36,000 oz Au. Existing infrastructure on the property includes: an all-season access road; a grid connected power supply; a 500 ton per day mill; mechanical, warehouse and office buildings; a tailings impoundment site; and a 2,100-meter decline with developed underground mining galleries that extend to a depth of 300 m from surface.
Tartan Lake has a current indicated resource estimate** of 1.180 M Tonnes at an average grade of 6.32 g/t Au totaling 240 koz Au, and an inferred resource estimate of 0.240 M Tonnes at 4.89 g/t Au totaling 24 koz Au. The mineral resources are estimated using a cutoff grade of 3 g/t Au. In 2022, Satori plans to explore the historical McFadden zone 1 km southeast of the mine site and the newly identified Sly Fox target, 3 km east of the mine site. Additionally, Satori will complete a ground based induced polarity (IP) survey to identify additional targets within the Tartan Lake shear zone.
*Note: The nearby mines and deposits in the region provide context for EMX’s royalty asset, which occurs in a similar geologic setting, but this is not necessarily indicative that the project hosts similar mineralization.
**The above resource data was from the Satori Resources Inc. 2017 NI-43-101 Tartan Lake Project Technical Report. Effective date: Feb 20, 2017. QP: Dr. Allan Armitage and Mr. Peter Karelse. EMX has not done sufficient work to classify the intercepts as compliant with NI 43-101 regulation, and these results should not be relied upon until they are confirmed. However, EMX believes these results to be reliable and relevant.