Wolverine Resources Corporation (EM)【WOLV】株式ニュース

Property description: The Frog property is comprised of 5 contiguous mineral licences composed of 262
claims encompassing 6,550 ha.
Location: The Property is located approximately 70 kilometres west-northwest of the town of Natuashish
and 65 kilometres southwest of the town of Nain, Labrador, situated 30 kilometres south of the Voisey's
Bay nickel, copper, and cobalt deposit operated by Voisey’s Bay Nickel Company Ltd., a subsidiary of Vale
S.A. The Property is centered on latitude 56.02° N and longitude 62.24° W within the 1:50000 scaled
National Topographic System (“NTS”) map sheets 13M16 and 14D01.
Ownership: At the date of this report the Property is 60% owned by 86835 Newfoundland & Labrador Corp
(“86835”) of Natuashish, NL, an Innu owned private corporation and 40% owned by Wolverine Resources
Corp (“Wolverine”), a publicly trading company. On 28 February 2022, Wolverine entered into a purchase
agreement with 86835 to earn a 40% interest in the Frog Property for the consideration of 570,000,000
common shares of Wolverine at a deemed price of $0.0025 per share for a purchase price of $1,421,500.
There are no outstanding Net Smelter Royalties (“NSR”s) or encumbrances on the Property at this time.
Property History: No recorded work has been completed on the Property to date prior to 86835 acquiring
the licences. Regional-scaled government sponsored surveys including lake sediment sampling and
airborne magnetics have been completed in the area.
Geology: The Property is situated in an area near the inferred contact between the Churchill and Nain
structural provinces. The Property is underlain predominately by rocks of MesoProterozoic-aged granitic
intrusions in the Archaean-aged Nain geological province. The northern-most extent of the Property is
underlain by lower Proterozoic-aged Churchill gneisses comprised mainly of granitic to tonalitic gneisses.
Mineralization: To date, no economic mineralization has been discovered on the Property. Several float
samples taken on the Property in 2021 were found to contain weak base metal mineralization up to 889
ppm copper and 171 ppm nickel.
Exploration concept/deposit analogy: At this early stage of exploration it is difficult to ascertain a true
deposit type. Given the geological setting, however, the likely deposit type that is being modeled is the
nearby Voisey’s Bay mine, located 30 km to the north. Alternatively, during a Property visit in September
2022, it was noted that the northern extension of a strong magnetic anomaly crossing the valley floor
contained volcanic rocks similar to the Flowers River complex containing rare earth elements. Samples
have been sent for analyses and results are pending.
Status of exploration: A total of $143,545.50 has been spent during the 2021 and early 2022 exploration
programs. A total of 19 rock samples taken during prospecting in 2021 and 50 line-km of ground
magnetics have been completed on the Property to date. The 2021 ground magnetics delineated several
small anomalous magnetic high zones scattered across the grid area. Follow-up ground magnetics in
2022 delineated a strongly magnetic body extending across the entire valley over a 1.4 km strike length
that is open to the north and south. This magnetic feature is 180 to 360 m wide and shows a sharp contrast
of up to 20,000 nT between the anomaly and country rock.
Conclusions and recommendations: The Property is currently at an early stage of exploration and, although
rock samples anomalous in base metals and rare earth elements have been discovered on surface, no
source of the anomalous samples is currently evident. Magnetics on the Property have delineated several
anomalous areas to date, the most prominent of which is in the western portion of the grid extending over a
1.4 km strike length and open to the north and south.
It is recommended that airborne magnetics and radiometrics be completed over the Property to determine
the extent and quality of any rare earth deposits. Aditional prospecting is also recommended at the north
and south extents of the valley to determine a source of the strong magnetic readings from the earlier
surveys. The next phase of exploration is estimated to cost $152,000