In spring 2025, Loyalist signed an LOI to acquire the Tully Gold Project subject to due diligence. Tully spans 458 hectares with one leased mining claim and 11 patented mining claims located approximately 25 kilometres north-northeast of Timmins, within the Timmins-Porcupine Gold Camp and approximately two kilometres southwest of the Bradshaw Gold Project (Gowest Gold Ltd).
Hosting a historical, uncapped gold resource of 144,000 ounces at 2.5 grams per tonne gold cutoff, Tully has demonstrated high-grade gold mineralization from surface to depth. Notable intercepts include 14.1 metres grading 20.1 grams per tonne gold, including 452.0 grams per tonne over 0.5 metres.
Step out drilling in 2013 confirmed eastern extension and depth continuity, with grades of up to 36.7 grams per tonne gold over 6.3 metres. The shallow, near-surface nature of the deposit, coupled with a historic 43-101 report outlining the geological potential of up to 1 million ounces to a depth of 650 metres, positions Tully as a high-impact exploration and development in the heart of the Abitibi greenstone belt with close proximity to Timmins.
Tully is located in the southwestern part of Tully Township, approximately 30 kilometres north-northeast of the City of Timmins, Ontario. Access is easily gained via Highway 655 and an all-weather gravel road that turns east off Highway 655, 11.5 kilometres north of the Kidd Creek Mine access road.
This road extends approximately 11 kilometres and terminates near the boundary between Prosser and Tully Townships, from which a 3-kilometre drill road leads south to the property. All-weather road access could be achieved by extending the gravel road network by approximately 3 kilometres.
The property also benefits from direct access to the Bradshaw Gold Mine. Power is available from a nearby transmission line to the west, and the Buskegau River, located immediately east of the Property, offers a reliable source of process water. The City of Timmins provides commercial, social, and mining-related services, including skilled labour.
Loyalist Exploration has entered into a binding LOI with Fulcrum Metals to acquire the Tully Gold Project. More details on the LOI can be found here. (Link to press release from April 9th, 2025)