Canadian North Resources Inc. (TSX-V: CNRI) (OTCQX: CNRSF) (FSE: EO0) is a Canadian mining exploration and development company that owns 100% interest of the Ferguson Lake mining property in the Kivalliq Region of Nunavut, Canada. The property holds major base metals (nickel, copper, and cobalt) and platinum group metals (palladium, platinum, and rhodium) mineral deposits held in 10 mining leases (96.9 square kilometres) and surrounding exploration claims (156.9 square kilometres), a total area of 253.8 square kilometers.

The mandate of CNRI is to create shareholder value from the advancement of its Ferguson Lake Project, a significant potential BM and PGM producer. The Ferguson Lake Project holds over 71 million tonnes containing substantial resources of copper (1,402 million pounds), nickel (872 Mlb), cobalt (99.9 Mlb), palladium (3.20 million ounces), and platinum (0.56 Moz). These estimates are for the West Zone and the West Extension Zone that are less than 6 kilometres in length along a 15 kilometre mineralized belt. There are multiple target zones for massive sulphides and distinct low-sulfide zones for PGM mineralization.

The Ferguson Lake Project

The Ferguson Lake Project covers an area of 256.8 square kilometres, consisting of 10 contiguous mining leases over an area of about 9,686 hectares (96.9 km²) surrounded by 11 exploration claims over an area of 15,694.63 hectares (156.9 km²) .

Ferguson Lake Project Property Map

Ferguson Lake Nunavut Map

Geology

The Ferguson Lake Project covers an area of 256.8 square kilometres, consisting of 10 contiguous mining leases over an area of about 9,686 hectares (96.9 km2) surrounded by 11 exploration claims over an area of 15,694.63 hectares (156.9 km2). All leases and claims are 100% owned by Canadian North Resources Inc. The property is situated in the Hearne craton area with extensive Archean and Paleoproterozoic gneissic-granitic terrains, volcano-sedimentary greenstone belts and large Paleoproterozoic batholiths.

The Hearn craton encompasses diverse geological systems spanning 2.7 billion years and is host to various types of mineral deposits. Known mineral deposits, prospects, and mining operations includes mafic–ultramafic magmatic nickel-copper-cobalt-PGM, orogenic gold, BIF-hosted gold, volcanic-hosted copper-zinc-lead-gold-silver, unconformity-associated uranium prospects, and diamonds associated with Phanerozoic kimberlite.

The Ferguson Lake area covers an extension of the Yathkyed Greenstone Belt. This belt consists in a strongly deformed and gneissic suite of Archean supracrustal and intrusive rocks, and variably deformed Proterozoic plutons and dykes. The Archean gneissic rocks are intruded by granodiorites, quartz monzonites, and various mafic intrusions including diorites and gabbros. The oldest rocks in the southern and northeastern parts of the Ferguson Lake Project property are fine- to medium-grained amphibolites. These are the metamorphic products of the original mafic and intermediate volcanic rocks of Archean age.

Mineralization

The Project covers an area of 253.8 km2, including 96.9 km2 of mining leases and 156.9 km2 of exploration claims. This land package covers all the known base metal and PGM mineralized zones and outcrops in the Ferguson Lake area.

Extensive magmatic base metal (BM) and platinum group metals (PGM) mineralized zones were tested and three of the ten zones were historically defined from 191,000 metres drilled in 623 holes.

The three most-drilled mineralized zones (East Zones, West Zone, and West Zone Extension) are spatially related to the same Gabbro Unit that is between 10 metres and 600 metres thick.

This unit is traced by intermittent surface outcrop exposures and by diamond drilling over a strike length of 15 kilometres.

The above map, from left to right, displays the South Discovery Zone, 119 Zone, the West Zone, West Zone Extension, West Zone South, Central Zone, East Zone I and II, the M-Zone, and Anomaly 51 along the over 15-km long magmatic sulphide mineralization belt.

All Archean age lithologies on the property were subject to high-grade metamorphism and deformation. Structural evaluation in the area is focused on two of the principal mineralized zones, East (Section A-B) and West Zones (Section C-D). It is interpreted that intricate folding of the gneissic rocks, and the target mafic-ultramafic intrusion were produced arch and trough-style structures. The East and West Zones are believed to lie within the south limb of an over-turned, trough or canoe-shaped structure plunging on both ends and modified by numerous faults and shear zones.

Archeans rock includes sulphide, oxide, and silicate banded iron formations in a number of localities. These are inter-layered with the more widespread quartz-feldspar-biotite (hornblende) gneiss (mineralization host sequence).

Across the property, these units have been intruded by Archean granitic gneiss and pegmatite. Various younger Proterozoic dykes, sills, and irregular intrusions cut through these older rocks.

Exploration Potential

The extensive target mineral zones across the Ferguson Lake property are magmatic nickel-copper-cobalt massive sulphide deposits with palladium, platinum, and rhodium mineralization. These zones are spatially related to mafic (and ultramafic) intrusions, which are principally in the form of fine-to coarse-grained gabbros. A second type of mineralization consisting of low-BM sulphides with high-PGM grades is situated significantly beneath and along the footwall walls of these massive sulphide lenses within the mafic-ultgra-mafic intrusions.

Previous mineral deposit modelling and re-examination of historic resources for the main West Pit and West Extension Zones has shown that enlarged pods of better grades of BM and PGM metals mineralization are present within massive to semi-massive sulphide lenses and stringers within zones and have thicknesses between two and tens of metres.

Executives & Directors

CNRI’s executives and directors possess multiple decades of experience in business. They have launched and grown numerous junior resource companies, and managed advanced and pre-feasibility level projects and beyond. The technical team has a proven track record in both grassroots and brownfield exploration.

The executive team, directors, and advisors have collectively raised hundreds of millions of dollars in the capital markets, primarily in the resource sector. This capital market experience brings value to shareholders for the successful funding of exploration and resource development of the Ferguson Lake Project.

Lee Q. Shim

Chairman And Director

Kaihui Yang, PhD (Geology)

President & CEO, And Director

Trevor Boyd, Ph.D, P.Geo.

Vice-President, Exploration

Carmelo Marrelli, CA

Chief Financial Officer

Ms. Aier Wang, MBA

Director

Rick Brown

Director

Michael Weeks

Director

Xian Jian Guo, PhD. (Metallurgy)

Technical Advisor

Stephen Du Toit, B Comm., CMA

Advisor
 

Corporate Presentation

Contact

299 Courtneypark Drive East,
Mississauga, Ontario
Canada, L5T 2T6

(Canada) | 905-696-8288
(Toll-Free) | 1-888-688-8809

info@cnresources.com