Sturgeon Lake Project Highlights
- Executed binding option agreement with First Quantum Minerals Ltd (“First Quantum”) increases exposure at Sturgeon Lake Project in Ontario, Canada
- Highly prospective for volcanogenic massive sulfide (“VMS”) style copper and zinc mineralization
- Additional First Quantum mining leases will double Odin’s ground position at its Sturgeon Lake Project from 11.7km2 to 22.7km2
- Exceptional high-grade exploration potential for Odin. First Quantum’s land package in the Sturgeon Lake area hosts the past producing high-grade Sturgeon Lake Mine situated along the well-endowed and prospective - Mattabi mineralized trend
- The most notable former mines in the region produced a combined 18.6 Mt of ore with an average grade of 1.09% Cu, 8.06% Zn, 0.84% Pb, 119.6g/t Ag, 0.5g/t Au on properties currently held by First Quantum and Glencore plc. (Geological Survey of Canada, 1995).
- The geology is representative of VMS style mineralization with the eastern extension of the volcanic complex largely underexplored and partly within Odin’s ground position
The properties are strategically located in a proven mining camp with the potential for multiple satellite orebodies. Production from the camp as reported by the Geological Survey of Canada (1995) totalled 18.6Mt with an average grade of 1.09% Cu, 8.06% Zn, 0.84% Pb, 119.6g/t Ag, 0.5g/t Au. The Sturgeon Lake Deposit is located on the FQM Property that Evandale has secured an option over and it was the highest-grade orebody in the camp. The remaining known mined deposits are located within adjoining ground held by Glencore plc.