1911 Gold files NI 43-101 Technical Report for updated resource estimate for True North Gold Project, Manitoba

1911 Gold Corp. [TSXV: AUMB; OTC: AUMBF] reported that following the release of an updated underground Mineral Resource Estimate (MRE) for the True North Gold Project on November 20, 2024, the company has filed the NI 43-101 Technical Report for the 100%-owned project in southeastern Manitoba, Canada.

Highlights: Filing of Technical Report entitled “NI 43-101 Technical Report on the True North Gold Project, Bissett, Manitoba, Canada”, prepared by Lions Gate Geological Consulting Inc. and 1911 Gold, dated December 23, 2024, with an effective date of August 29, 2024

Underground MRE defined for the True North Gold Project is reported within mineral resource constraining envelopes using a 2.25 g/t gold threshold. All blocks within the envelopes are reported and tabulate as: Indicated Mineral Resource of 3,516,000 t at 4.41 g/t Au containing 499,000 ounces Au. Inferred Mineral Resource of 5,490,000 t at 3.65 g/t Au containing 644,000 oz Au.

The MRE highlights areas for resource expansion both down plunge and along strike to the modeled veins, and within areas of historic drilling, for potential resource expansion with additional drilling

Surface drill program (6,000 m) underway on new target areas that include gold mineralization intersected in historic drillholes along strike from the resource and within 400 metres of surface. New targets identified during the re-interpretation and remodelling of gold mineralization that are proximal to Au-bearing shear zones within favourable host rocks.

Planning for 25,000 metres of resource expansion and new target drilling is underway for 2025.

Shaun Heinrichs, President and CEO of 1911 Gold, commented, “We are pleased to have completed the compilation and filing of the updated Mineral Resource Estimate Technical Report for the True North Gold Project. The new robust resource estimate forms the base of our plans moving forward both for the recommencement of production and the expansion and growth of resources at the True North Gold mine. We have a significant exploration drill program underway on a number of new targets and are moving to expand this program in 2025 with more resource expansion drilling.”

First phase surface drilling is currently underway on near surface areas outside of the resource where the new geological model has identified prospective new targets with significant mineralized intercepts from historical drilling. Initially three prioritized target areas have been identified and are the target of the current drill program.

With the completion of the MRE, 1911 Gold has also identified areas of the resource model that are open and with additional drilling have the potential to expand the resources, in addition to new targets at depth in the deposit. The company is currently compiling a drill plan of over 25,000 metres of drilling for 2025 and has commenced work on a preliminary redevelopment plan, working closely with Éric Vinet, recently engaged as a key technical advisor, focusing on identifying suitable mining methods, expected costs, and overall economics supporting the restart strategy, to be covered in a new preliminary economic assessment study.

1911 Gold is a junior explorer that holds a prospective, consolidated land package totalling 63,276 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba, and also owns the True North mine and mill complex at Bissett, Manitoba, where it is reprocessing historic tailings on a seasonal basis.

1911 Gold believes its land package is a prime exploration opportunity, with potential to develop a mining district centred on the True North complex. The company also owns the Apex project near Snow Lake, Manitoba and the Denton-Keefer project near Timmins, Ontario, and intends to focus on both organic growth opportunities and accretive acquisition opportunities in North America.

1911 Gold’s True North complex and exploration land package are located within the traditional territory of the Hollow Water First Nation, signatory to Treaty No. 5 (1875-76).