Signature Resources

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From the Chief Executive Officer of Signature Resources. Yup, thank you. Thank you very much. before I start, in terms of my other roles, I'm also chairman of Denver Gold Group, which puts on this conference and so for those who are fortunate enough to be in the room, thank you for being here. I hope you had a great conference and we appreciate it. Staff has done a great job and we appreciate what they've done. We think they've put on a great conference, so. Thank you to the staff as well. So with that, I'll introduce you to Signature Resources for those who have been able to stay. You get the advantage of seeing the cheapest stock here at the conference, at least in my opinion. We trade about $15 an ounce based upon our resource, so it's a great opportunity. I know we wouldn't trade at $100 an ounce, which would be what the average explorers trading at today on, but we have work to do. I know, we know what the work is that it needs to get done, we can't get it done, and then hopefully someday we get to that $300 an ounce where the producer is with many more ounces to go. Forward looking statements. So this is a, kind of a summary of the company. We have a single asset in, Ontario, Northwest Ontario called Lehman Lake. We published our initial resource, in July, roughly 762,000 ounces. we also have a very large regional package with 14 targets on it. Lehman may not be the best mine on this property. It is, like I said, it covers 32 kilometers, 24,000 hecta acres and exploration that we can do moving forward. I will point out the picture above is our exploration camp. We own our own camp, And so that's where we do all the exploration. What you will see up above here at the top, wildfires are a risk up in northwest Ontario, so, we have to be aware of that. That was a fire in 2022 that came right up to the camp. Unfortunately, it got into our core shack, so we lost some 80s core, which was very valuable and very painful when trying to do this resource we try to do, but we're getting past that. The other thing I will highlight over here. The two aluminum boxes, two Xanax A5 drill rigs that we own ourselves, we control our destiny when it comes to drilling. We are fly in, fly out, so it is expensive to do exploration. Costs about $600 in the summer to do exploration. If we had to use a contractor and they had to bring these in themselves and bring in all the camp and all that, it'd be double that to do exploration. So we save a ton of money by having this investment that's been made over the years for our exploration. So this is where we are. Lehman Lake claim. You can see up far northwest, up near the Manitoba border. Monument Bay is probably one of the more well known projects that's close to us. it was owned by Yama, by Agnico. It was sold to a group called, On Gold. Down 200 kilometers southwest. You'll see Mussel White. I'm sure probably you sat in the or presentation. It's not, it's a different structure than ours. It's a banded iron, but it is just in terms of something that's nearby in Red Lake that everybody knows 300 kilometers to our south, even though we're 300 kilometers away, we're considered the Red Lake District, but, That's a long way to be, you know, from it. Regional infrastructure is very important because we are remote. the green, the teal and yellow line, that's the power line that was recently run. It ran, they ran, to a new generation station right there in Satchico Lake, 40 kilometers to our east, easy for us to connect to when we do build it to get enough resource to want to talk about a mine. Easy for us to get across. The ground's flat. It wouldn't be that expensive to run a mine. Roads are the other question on the Manitoba side. These two First Nations groups, Garden Hill and Red Sucker Lake, are very isolated. Manitoba had promised before COVID that they're gonna build a road, all season roads into these communities. They have not connected them yet. Pressure is building for them to connect these communities. That's 40 kilometers away as well. We have run ice roads over to Red Sucker in the winter. It'd be easy for us to connect a road to that once they put that all season into Red Sucker Lake on that side. So by the time we get to the, to a mining, perspective, we should be getting more infrastructure coming to us, but, Mussel White's a fly in, flight out out operation too, so they can make, you can make it work up there. Our package, this is what I call our little amoeba, this the Greenstone belt that's up around the Lehman Lake all that green outline, that's our package that we, we control the state claims down in the right corner down here is more platium platinum, not something we're trading tracking. Somebody else is working on that. The blue claims are state are patented claims. They don't do that in, in Canada anymore, but we have state claims all around it. You just have to pay for work. You distribute your work credits across the state claims to hold them. There's a small green box called Other. It's owned by a group called Angel Wing Metals. yeah, at some point want to close that donut. I think Angel Wing, they just wanna see if they become our pit wall, and then they'll sell it to us. I don't blame them. It's a good strategy because their claims are patented as well, so it doesn't cost them anything to hold it. I would do the exact same thing. Frustrates me, but I do the exact same thing. This is all the drilling that's been done. So this property, much like the last one, was found in 1939. they finally put a shaft in an underground workings in, 1945, as he said, Abco, inflation, war, other things, they never put in production. the shaft and the underground workings are not, usable, but you can see they're on the. Right here in the core of where all the drilling is. So like I said, 43,000 m. Take note on the west of this dye-base dike, we don't have the density, and it'll show up in a resource and that's why it's important, but you can see a lot of high grade right around that, the underground structure, that those pink 1010 g or better dots. the old guys knew what they were doing. They chased the structure. I don't know how they did it in the forties, I just can't imagine. but they were chasing all the structure. We do have 3 bulk samples, small bulk samples, but for doing it on donkeys, it's pretty big bulk samples. They're in a 9 to 12 g per range, so gram per ton range. So when they were pulling that up as they're building that, so they sampled that, it's pretty good, but this is 43,000 m is what went into our resource. Is our resource. 762,000 in total, average grade 1.16. I'd point out the indicated is, higher than the inferred. I think as we do in-field drilling, you're gonna see the grade go up. This is nice for open pit top structure. The real target here is trying to find chase the the bigger underground, bigger grade, wider structures. That's what we're trying to do. I think I can paint a picture. I can show you why this is a million ounces within the conceptual pit. It just needs some infield drilling. We're doing a current exploration program about 4200 m that's really trying to step the extents we're trying to go 600, 600 m to the west, this pit is 1.6 kilometers. We're trying to go out this way 600 m, and then we're trying to go this way down to 500 m. The lowest point in the pit is about 340. The average drilling is about 200 m, so this is all very near surface. You can see the inferred and the indicated. The only other thing to point out is. Until 2024 whenever they did assays, they only selectively assayed where they could see the structure. The structure is very identifiable. We know there's a halo of 0.2 to 0.5 all throughout it. I mean, it's not something you'd build a mine on just that low grade, but it does fill the mill. It does cover costs, so it does help to fill in. And that's why a grade goes up because when they did the model, everything with no assays got a 0 instead of having a 0.5, 0.6, on it. These are the zones that we have. We have 5 zones within the, with, within the model. The, the north and the west, the red and the orange are the higher grade. I think what's gonna end up happening is the West is gonna split into two zones, maybe just become an extension of the south zone, because we can see a divide happening. But I also want you to note how it's broken up, how the West is broken up. That is where we can infill. The, the structures didn't end. It just hasn't been drilled yet. So just by infill drilling, we get to connect these islands, and that will help the resource too. That's why I think we can easily get to, to, to a million ounces. These are the cutoff sensitivities. We did the work at 0.3. That's where we came at the 1.16, but I want to highlight at 1.0 we have 531,000 ounces at 2 g per ton. In my mind, that's a nice starter pit, get the cash flow, then you build the underground and start driving it lower. So there is a very nice high grade at the top, for a starter pit. This shows those blocks. The 1.0 blocks are all in the red. You can see where the high grade is. I also would note outside the pit, there's a nice little high grade nugget there that can come in just by extending that pit a bit, So you can see where it all runs, but you can see the north and, and, and, and West zone has a lot of that high grade. And also I point out in terms of just trying to infill somehow or another we missed this hole. I don't know how, but I don't need AI to tell me I need to drill there. we have used some AI that has been very useful in telling us where to drill, but I think even I as a financial guy can figure that out. We also did a gold deportment study, so we wanna make sure as we're doing the exploration that we're also moving this forward technically, you can see there are no problems with recoveries. This is done at 150 microns. You can see every zone we cover, we did 4 zones. They all have nice recoveries from 92 to 96. The other thing is there's less than 2% arsenopyrite throughout the whole thing. The one thing that may challenge recoveries a bit is there's a little bit of silver associated with the gold, which is why the grinding will become more important, maybe taking it down smaller. It's not big enough to really be economic silver, but there's a one for one relationship sometimes, that does draw down recovery a little bit, but you can still see it still did just fine with that. I just highlight that. So with all this work that's been doing, we've been compiling, and you're gonna see it when we talk about the regional too, we've been compiling all this historical data from the 40s all the way to now. We, we took an old IP study from 2022 that showed an association with low resuscitivity, high chargeability, and the mineralization, and all that drilling has been done at the top. So this is the pit. Conceptual pit within this IP study. And you can see how the results hit. Within all the purple. Within that high part of that low recessivity, so part of the concept of what we're looking at now for drilling is trying to take it down into the heart of the big plum, the big purple, to see if that holds or if it's too porous and the gold passed through it and it needs a trapping mechanism for it to capture. everybody's seen big IP studies, been seeing big purple targets, so we're trying to figure it out. This is exploration, and keep that in mind always that this is exploration. You know, we always say, you know, you call it fishing, not catching. If it's easy, it'd just be catching. Same for exploration, it'd be finding, not exploring. All this is focused on exploring. The idea is to take this from 1 million ounces inside this to prove it's 3 million ounces because we're, we're remote. You need 3 million ounces. There's no doubt about it. that really makes it sexy and attractive. Again, showing the purple real quick, you can see the zones follow the purple, so at least pictorialally it makes sense. We'll see what the drilling says. The truth machine is the core, not the, models. And again on the west zone, we are testing. One of the things I said we're trying to drag it out 600 m, we're gonna drill two holes, actually this way on, on this section that's never been touched before, and that's why we're trying to drag it 600 m. If I tell you I can take this. 2.2 kilometer wide, adding 600 m, and if I can take it down to 500 m from 250 m, that's how I paint a picture this could be 3 million ounces. This is our drill plan for this year. This is a plan view of it. These are the sections that we're looking at doing the drilling on. the red are the zones, 4200 m, as I said. So just for example, I'll just show you this last section. This is, this section is where we're drilling two holes across, trying to test the depth. This last hole is 803 m. It's been completed. We don't have results yet from it. It's hole number 4, and I'll talk about 4 again because something else interesting happened there. these are double what anything we drilled. the biggest hole I drilled in 24 is 425 m. Hole number 4 is 803, like I said, hole number 5 is 725. So we're really trying to drag this down. No more just going back and infilling. I could infill, I could show grades. I could show you more infill, but that's not accelerating this project. We gotta accelerate this flywheel, get it moving. There's a plan view of it. The purple is at 225 m where that low recessivity is, shows you where the zones are, and it shows you where our drill plan is. hole number one, which I didn't have a section for here, is actually a re-entry of a 2024 hole, just trying to drag it deeper down into that purple heart. We found the structure, we didn't find the grade. as I want it, so what we may be finding, the east doesn't have it, it's, it's dying off to the east, and we, and we gotta go west, just to be honest, So a hole number 2 kinda showed the same thing. So 4, you know, we'll see what it shows when we get it reported here in about 30 days. Labs, as you may or may not know in Canada, extremely backed up. Everything's taking forever to get results, so we're way behind on getting results. I'll hopefully get 4 and 5 in 30 days, maybe hole 10, and I'm gonna show you maybe a little bit from that in 30 days, and then we'll still be getting results through the end of July. this is where hole number 1 and 2 came in. It shows you we did find the structure, that's the point of this graph. It is the north, south, and central zones. You can see the hits, and they are on structure. So geologically, technically, it's holding together, which makes us very happy. The north zone is the only thing that's kind of structurally controlled. We have a leopard rock package that is the foot wall for the north zone, and we've hit it everywhere on this property within 5 m where remodeled, which is good, at least from a model standpoint. There, we haven't, we've seen some mineralization but nothing major on the other side of this leopard rock package. I just reported this whole Monday. This is hole number 3. What it did show is, and what I thought was important, it showed we extended the north zone by 250 m from where we've ever hit it before. Idea is taking us deeper. This shows the structure goes deeper. It had 5 m at 2.2. I would have liked it to be a little bigger, a little more grade, but we are hitting the structure, so that's telling us again, maybe we need to keep looking and pushing out west instead of this east, maybe, maybe the, you know, end of it. We'll see. Show you a picture of this. This is the core box from that north zone. This is part of the core. The only reason I'm showing you this is I wanted to show you this leopard rocks. The reason we call it leopard rock, you can see, it's very spotted. it makes it easy in the, in the drill shed when they, when the core comes up, they know they've hit it. We usually drill about 20 m into it to make sure it's really there, and then we stop the holes because we know there's not much past that. So it's a good indicator for the drillers. And then you can see there's a 5.21 m intercept right there. That's pretty good. So hole number 5, this is what we'll be reporting next. Again, just trying to take it down below. I'm just trying to show in relationship to that low recessivity at 225 m, where the zones are and where we intend to hit it. We don't have the results, but I do know we hit the zones where we planned to hit them. Now we'll see what the truth machine says from the assay labs. This is look towards the west shows the three holes again, just showing the same thing I've been talking about. The west though, keep in mind is all about extending it. These are shallower holes, they're about 400 m holes, but this is about extending that pit, yeah, another 600 m, just trying to drag it out, cause we're open laterally and at depth. This is kind of where we are currently on the drill program. we're work, the hole we're drilling now, they just got back to camp from a break, they just, we're 46% done with hole number 7. They'll move up to 6. I know that it's not chronological doesn't make sense, just the way we It, it came to moving the drill rig versus the way we planned it when we first planned it. The other thing we did, we added hole number 10 that we already drilled down here. The reason is when we drilled hole number 4, we were surprised and hit a conductor zone that has been out there for the VLF, from helicopter doing VLF highs. We've always been interested in that. We didn't think it went as far as 4, which you can see right here. We thought it ended before that. But when the core came up, But first I'll show you, this is what a rock typically looks like, unmineralized, volcanic mafic, boring. There's no gold in that rock right there. This is what came up to the shed, and we're like, what the heck? We've never seen that in any of our holes. This is that conductor zone that just showed up and that's why we drew, we moved to that hole number 10. There's also a significant amount of geophysical. Anomalies showing right here where this is right next to this lake. So we said, well, we're dragging a rig over there anyway. Let's stop off, hit 200 m, and then see what happens. So we'll see what that holds. That's probably 45 days out, but I'm excited to see if we do have a whole another section because that is 250 m south. It does run 1.7 kilometers. Could it be a mirror of the Leman Lake? We'll see. Regionally, we have a ton of targets. This is all, LDA work that's been done. So we're working on I. A and B are our best targets and probably H is the next. Structurally, as we continue to put all this structure and all this mapping together, you can see what it looks like. I find it very interesting seeing, probably shoot black here, seeing how this, how this is wrapping around. All these triangles are gold occurrences from sampling, grab samples, channel samples, over 40 years of gathering data, not just us, but others. So we're very interested. I need to drop some geos out of some helicopters, not literally, but, you know, just get them out there on the ground working. Taking samples, mapping, yeah, this isn't a Brex thing, for sure, Where they follow the helicopters, at least. anyway, get work done out there, so that's what we need to do for that. Like I said, this may not be, you know, this, these may be better minds than Lehman. Lehman is where the work was already done. That's why we, that's why we're focused there. Real quickly, we own our own camp, we own our own drills, we own a ton of stock. We have a large land package, large regional land package, I'll show you the share structure real quick, 43% insiders. I am the largest shareholder at 15%. Chairman owns 13%. Jonathan Goodman, who is the CEO of Dundee Corp, also owns about 15%. Not Dundee itself, he owns it personally, so don't start thinking Dundee's. Here yet, but, you know, knock on wood, we'll see if we can get them there, we did have a little cash at the end of the quarter. We are an exploration company, so take that with a grain of salt, the meter is always running just like a taxi on that. with that, I'll take questions if I have any time. Thanks, Dan. Any questions from the room? A quick one for me. When do you think you'll be able to put some economics around the project? I presume you're just gonna drill it, drill it first, work out what's there, and then, yeah, I think we gotta get into 3 million ounces to for it to really make sense, whether it's gonna be fly in, fly out, or seeing what happens to the roads. We are doing a met study as well to follow that gold deportment. That's gonna be key to telling us what it really needs for type of mill, what type of structure, and then just keep drilling it. This thing honestly needs 40,000 m drilled on it, We can do 12,000 m at a time, at a year, but it, it really needs to, to accelerate this flywheel I talked about, it really needs 40,000 m. Thanks everybody. Thanks then cheers.