• Larder Project

Larder Project
Abitibi Greenstone Belt
Northern Ontario, Canada

  • Located in the heart of Canada’s prolific (>200M oz) Abitibi Gold Province
  • Covers 9 km of the Cadillac/Larder Break between the Kirkland Lake (70M oz) and ` Kerr-Addison (12M oz) Gold Camps.
  • Includes at least 4 high-grade (>10 g/t) gold mineralization zones, right on the Break, defined by extensive shallowly-focused (<500m) drilling.
  • Historic shallow exploration focus means mineralization is largely untested at the depths (>500m) where most deposits in the region blossom.
  • Additional 20 km of underexplored related structures with high gold potential
  • Experienced exploration team eager to test targets left untouched by shallow focus.
  • Excellent community relations and year-round infrastructure
  • Permits in hand to drill immediately

Larder Project Location

MAG Silver’s 100% owned, 3370 ha, Larder Project straddles 9 km of the prolific Cadillac-Larder Lake Break in the heart of Canada’s 200 million ounce Abitibi Gold Province-one of the world’s premier Gold camps. The Larder project lies between the 70 million ounce Kirkland Lake (35 km west) and the 12 million ounce Kerr Addison Mine (7 km east). At least four mineralization centers are known on the property, three of which have seen extensive shallow (<500m) drilling and minor mining. The historic drilling nicely defines the geometry and controls on mineralization. Importantly, the major deposits of the region get bigger and higher grade below 500m depth, so this understanding means that potential for tracking the known mineralization into that zone is very promising. The property also covers at least another 20 km of underexplored parallel and splay structures recognized through geophysics, sampling and limited shallow drilling. The highly experienced and motivated exploration team has an extensive inventory of untapped high-potential deeper targets, many of which are permitted, so drilling can be initiated soon.

The Larder Project is comprised of patented and unpatented claims, leases and mining licenses of occupation​within McVittie and McGarry Townships in eastern Ontario-a stable and mining-friendly jurisdiction. Community relations are excellent and all parts of the property are accessible year-round.

The Larder Project hosts three high-grade gold deposits along the Cadillac-Larder Lake Break, 35 km east of Kirkland Lake. The project is 100% owned by MAG and is comprised of patented and unpatented claims, leases and mining licenses of occupation within the McVittie and McGarry Townships. The 3,370 ha project area lies 7 km west of the Kerr-Addison Mine.

All parts of the Larder property are readily accessible, and MAG has retained the exploration team going forward. The concessions associated with the Larder Project are all in good standing with various underlying obligations or royalties ranging from nil-2% NSRs associated with various mineral claims, and various payments upon a production announcement.

The Larder Project lies in the highly prolific Abitibi Gold Province of northern Ontario. The property includes several known shear-hosted (“orogenic”) gold mineralization centres located along approximately 7 km of strike length of the greater than 250 km long Larder Lake–Cadillac Break (the “Break”), a highly-productive regional first-order shear structure. Unlike in many other shear-hosted gold deposits, mineralization occurs on the Break as concentrated ore shoots along the major first-order structure as well as along related second or third-order structures. This relationship appears similar to that manifested at the nearby and adjoining well-known gold camps along the Break such as the Kerr-Addison Mine (approximately 7 km to the east) and the Kirkland Lake district (approximately 35 km to the west). The Larder segment lacks systematic exploration, especially to depth on the main Break and along the subsidiary shear structures.

MAG anticipates that the mineralization style and characteristics on this property may be similar as in neighbouring major camps, however, no assurance of this can be made. Readers are cautioned that, as the Company's exploration and drilling programs at the Larder Project advance, results may prove to be materially different from those arising from adjacent properties.

The Larder property has numerous non-technical advantages. It lies in a mining-friendly jurisdiction with a very long history of mining. There are First Nation agreements in place, with positive ongoing dialogue, and there are no identified significant environmental legacies. Infrastructure (electrical, gas, highway, water) and access are excellent; exploration costs are relatively low; experienced labour is plentiful in the area; and permitting is streamlined, predictable and timely. Importantly, many initial targets can be drilled relatively quickly from existing permitted pads.

MAG intends to apply an integrated district-scale exploration model and new technology to the search for large-volume, high-grade gold mineralization of the style known to occur throughout the Abitibi region. MAG’s technical team believe that a combination of systematic surface-based exploration combined with geophysics will likely uncover numerous targets in this highly gold mineralized region. This will focus efforts along not just the Break but also along the many known, and geophysically indicated 2nd and 3rd order structures throughout the balance of the sparsely tested claim package. The Kir Vit prospect within the Larder claim package, is the most advanced of these and may be hosted on the same structure as Agnico Eagle’s Upper Beaver Mine currently in construction a few km to the west.

Larder Project Outlook

MAG has commenced with preparations to initiate a drilling campaign in the second half of 2022. In addition to a comprehensive data review a drilling program is contemplated to drill below and lateral to the already identified mineralization. Together with concurrent groundwork, MAG also expects to advance other high priority targets on the property.

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