History

Independence Gold Corp. (“IGO”) optioned Merit from 2019-2022. During their option period, IGO reported comprehensive mapping of the property with a total of 110 samples collected from vein and country rocks exposed at surface. The best results were found in chalcedonic quartz veins with dark sulphide bands, which were defined as belonging to a ‘low sulphidation epithermal’ style deposit.

IGO further reported that samples from the property returned grades of up to 9.5 grams per tonne gold and 341 g/t silver. Surface exploration targeted several zones identified during the 2019 field season with the objective of further understanding, delineating and expanding targets.

In 2020, IGO reported that follow up work at the Central Zone found additional chalcedonic quartz material approximately 70m northeast of a 2019 high grade sample and returned 7.69 g/t Au and 447 g/t Ag. IGO reported that additional mapping and structural interpretation indicate that this area is part of the same structure that hosts the Sullivan Ridge veins but has been offset along a northwest to southeast trending fault.

Follow up work at the Sullivan Ridge Target in 2020 discovered additional chalcedonic quartz veins that branch off at 10-15 degrees from the main vein.  Samples from these veins returned grades of up to 4.35 g/t Au and up to 50 g/t Ag.  A 200 m by 100 m area of branching veins were identified through mapping.  Outcrops along a 700 m strike length also show potential for similar structures.