Taylor Brook Deposit

Project Overview

The Taylor Brook deposit is classified as a polymetallic VMS deposit typical of the Bathurst Mining Camp. The deposit is comprised of one to four stratabound horizons of heavily disseminated to semi-massive and massive sulphides with a strike length of approximately 650 metres and a down-dip extent of greater than 600 metres. The Taylor Brook deposit is situated approximately six kilometres along strike and northeast of Trevali Mining Corporation’s Stratmat project and is believed to host mineralization similar to that identified at the Stratmat deposit. The northeast trending Stratmat Shear Zone, which encompasses the Stratmat deposit, appears to be trending onto the Taylor Brook Property. This shear zone is truncated to the north by the Coles Brook Fault that can be mapped on the Taylor Brook Property.

The Taylor Brook deposit appears to have a nucleus of higher-grade massive sulphides concentrated in the northeast area of the Property. Sphalerite and galena are the dominant economic minerals and the width and grades of the base metal mineralization are highly variable within the sulphide zone although several narrow high grade intervals (e.g. 1.0 m. of 10.7% Zn, 2.2% Pb and 5.2 oz/ton Ag in Hole TB95-2) have been encountered. The lead, zinc, and copper ratios are consistent with those from other deposits in the Bathurst Mining Camp. The eastern portion of the Taylor Brook deposit has been drilled to shallow depths and has not been delineated to the east or west nor at depth and remains open.

For a more detailed description of the deposit, please see Walker, 1999 (View Technical Reports).

Exploration

The Taylor Brook Property and volcanogenic massive sulphide horizon has been explored by Stratabound Minerals Corp since 1987.

In 1977, Consolidated Morrison conducted an input airborne geophysical survey that identified a coincident EM and magnetic anomaly. Diamond drilling intersected the Taylor Brook base metal sulphide deposit. Follow up drilling by Sabina (1978) and Granges (1986) expanded the deposit but failed to intersect significant grades of zinc and lead.

Stratabound Minerals Corp. acquired the exploration rights to the property by entering into an option agreement in 1988. The historical exploration work was compiled and a new exploration initiative was begun. The program included line cutting, prospecting, horizontal loop EM, magnetic and extensive Induced Polarization (Dipole-Dipole resistivity) surveys. A trenching program was undertaken in the summer and lead to the delineation of a broad area of base metal sulphide mineralization near surface at the western end of the known mineralized horizon. This was interpreted to be a complex re-folded structure that may hold potential for increased grade. Teck Exploration Ltd optioned the property in 1991 and completed geological mapping and lithogeochemical surveys. Two drill holes were added to test the depth extent of the original deposit and yielded disappointing results.

In 2011, Stratabound Minerals commissioned Tetra Tech Wardrop to complete a Preliminary Economic Assessment (PEA) and Resource Estimates on their 100% owned Captain, CNE and Taylor Brook Deposits. Tetra Tech concluded that the Taylor Brook deposit warrants further investigation and development. Tetra Tech recommended that additional drilling be conducted to further investigate and develop the known Taylor Brook deposit. The deposit has not been delineated laterally to the northwest/west. The deposit requires additional work to determine if the continuity of geology and grade continue at depth and laterally to the east. Tetra Tech recommended a definition drill program of approximately 2,900 m.

Additional exploration was conducted in 2012, 2014 and 2016 that increased the level of further exploration and developing the property. Diamond drilling in 2016 intersected the two mineralized horizons that were delineated in DDH 14-39. This further increased the mineralized horizon approximately 75 metres to the south.

Jaeger Resources Corp. optioned the property from Stratabound in 2017 and initiated exploration.

Resources

The 2011 historical mineral resource estimates (NI 43-101 compliant) for the Taylor Brook deposit at 1.60% ZnEQ% cut-off grade are:

  • an Indicated Resource of 243,000 tonnes at 1.69% Zn, 0.85% Pb, 0.02% Cu and 33.42 g/t Ag and
  • an Inferred Resource of 102,000 tonnes at 1.70% Zn, 0.87% Pb, 0.02% Cu and 32.59 g/t Ag.

Please see the PRELIMINARY ECONOMIC ASSESSMENT ON THE CAPTAIN, CNE, AND TAYLOR BROOK VMS DEPOSITS, (View Technical Reports) for details.

Environment & Sustainability

  • Property is not within any designated or proposed park or environmentally sensitive area.
  • There are no apparent designated commercial interests other than logging and mining.
  • The property area does not include any fishing sensitive lakes.
  • There are no known environmental liabilities on site.

Metallurgy

A preliminary geometallurgical study was initiated in 2019 to examine the mineralogy and lithogeochemistry of the Taylor Brook Property.

A preliminary to any mineral processing study must include a mineralogical and lithogeochemical study with emphasis on trace element geochemistry. This study is important for understanding the ore, waste rock and tailings components of any deposit and their impact on the environment. This would include reclamation.

The level of detail from this investigation should increase as the project advances through the various stages of development.

The purpose of this study is as follows:

  • Define in better detail the known mineralogy.
  • Define potential lithogeochem markers (pathfinder elements) relevant to understanding the geology and mineralization.
  • Define any potential deleterious trace elements.
  • Determine if there are different ore types within the Taylor Brook Deposit which would impact recovery and processing requirements.
  • Characterize the potential tailings and waste rock that could be disposed with respect to acid rock drainage and metal leaching.
  • Determine the impact / influence of mineralogically problematic material and/or gangue minerals resulting from any deleterious trace elements.

With this kind of geometallurgical information at the exploration stage, the Company can begin to fine-tune any future mineral processing systems.

Status

Jaeger Resources Corp ("Jaeger") entered into an option agreement with Stratabound Minerals Corp ("Stratabound") in 2017 (see press release dated February 22, 2017) to earn an 80% interest in 34 of the Taylor Brook Property claims through exploration expenditures, the assumption of Stratabound's work and payment obligations relative to the Taylor Brook claims and the issuance to Stratabound of shares of Jaeger. Under the terms of the agreement Jaeger issued 1,000,000 common shares to Stratabound upon execution of the agreement, an additional 1,000,000 common shares issued to Stratabound on the one-year anniversary of the agreement and Jaeger is required to incur cumulative exploration expenditures of $500,000 over a three-year period (amended to a 6 year period as stated below). To date (November, 2019), Jaeger has expended $125,000 on exploration.

On May 15, 2019 Jaeger entered into an Amending Agreement (the “Amending Agreement”) with Stratabound. The Amending Agreement extends the original agreement to February 22, 2023 and requires Jaeger to make $500,000 (the original exploration commitment) in cumulative exploration expenditures on the Property and maintain the Property in good standing. This includes $125,000 in cumulative exploration expenditures by February 22, 2020; $200,000 by February 22, 2021; and $300,000 by February 22, 2022. Jaeger issued 1,600,000 common shares to Stratabound as consideration for the Amending Agreement. Upon Jaeger's exercise of the option, Stratabound will have the election to enter into a joint venture with Jaeger or to convert its remaining interest to a 3% net smelter return royalty which can be bought out.

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