The DeSantis Gold Property is a strategically located gold exploration asset in the heart of the prolific Timmins mining district of northeastern Ontario, one of Canada's most historically productive gold belts.
The Property is situated approximately 4.5 kilometres southwest of Timmins, Ontario, within a highly prospective segment of the Destor-Porcupine Deformation Zone (DPDZ), a major regional structure that controls many of the district's significant gold deposits. It lies about 11 km west of the Dome Mine (Discovery Silver) and 14 km east of the Timmins Mine (Pan American Silver), both key gold producers in the district.
The Property lies within the Neoarchean Abitibi Greenstone Belt, a world-class gold-endowed terrane characterized by volcanic, sedimentary and intrusive units. Mineralization at DeSantis is primarily mesothermal gold with associated silver and base metals, often hosted in quartz veins and hydrothermal alteration zones. Broad alteration features and historical high-grade intercepts underscore the potential for delineating a significant gold system with follow-up drilling.
DeSantis enhances Loyalist's Timmins portfolio by adding a historically productive gold property with strong exploration upside and production potential. The acquisition consolidates ground adjacent to known resources and past producers, enabling integrated exploration and future resource definition programs.
A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Loyalist is not treating the historical estimate as current mineral resources or mineral reserves.
The historical Mineral Resource Estimate (MRE) on the DeSantis Property is unclassified and does not comply with CIM Definition Standards on Mineral Resources and Mineral Reserves as required by NI 43-101. The MRE was taken from a report titled "TECHNICAL REPORT on the DESANTIS PROPERTY Porcupine Mining Division Ogden Township, Ontario, Canada" authored by Minorex Consulting Ltd. and dated May 30, 2011.
Investors are cautioned not to treat the estimate as current or rely on the estimate in making an investment decision. The MRE is included to provide shareholders with background on the rationale for acquiring the asset. A qualified person has not done sufficient work to classify this historical MRE as current mineral resources, and the Company is not treating this historical MRE as a current estimate.
It is uncertain whether, following evaluation and/or further exploration, the historical MRE will ever be reported in accordance with NI 43-101. The Company has no current plans to undertake the work to bring the MRE up to CIM reporting standards.