It is going to be interesting to find out what this anomaly reveals.

Geophysical Interpretation of Semple-Hulbert

• The geophysical data exhibits the characteristics of an intact intrusive body.
• Modeling of the magnetic data outlined a magnetic feature, which is dimensionally about >10km long by 3-4km wide and extending to at least 3km below surface.
• 8 electromagnetic targets (conductors) located within the interpreted intrusive are targeted for drilling
• Within this body the magnetic response varies spatially – suggesting multiple geologic events.
• This interpretation fits the analogy to the Voisey’s Bay deposit; that being multiple magma pulses over time.
• The modeling also exhibits features similar in nature to four of the Voisey’s Bay intrusive components; the Eastern Deeps, Discover Hill Zone, the Ovoid, and the Reid Brook Zone (feeder sheet).
• Each of these components has an associated group of strongly conductive responses which have been targeted in the upcoming drill program.

Geological Interpretation of Semple-Hulbert

Larry Hulbert, D.Sc. has reviewed the geophysical data for Semple-Hulbert, and has provided the following observations regarding interpreted geology:

In detail, the magnetic fabric of the intrusive body is remarkably similar in size, shape and form to that of the Voisey’s Bay Complex in Labrador which hosts world-class Ni-Cu deposits, and was the last significant Ni-Cu discovery in North America (1994).

Magnetically, the mafic-ultramafic rocks underlying the Semple-Hulbert property stand out regionally as a striking magnetic anomaly. Based on the Geological Survey of Canada regional airborne magnetic surveys the intrusive rocks on this property are approximately twice as magnetic as any other known mafic-ultramafic body in the "Ring of Fire" (ROF) including the southeast portion of the ROF which hosts the recently discovered world-class Ni-Cu-PGE, Cr and Fe-Ti-V deposits. Detailed magnetic surveys conducted as part of a VTEM airborne geophysical survey over the Semple-Hulbert property enhanced the significance and understanding of this regional anomaly even further.

The detailed VTEM magnetic survey outlined a "spoon-shaped" intrusion. The East-West trending linear magnetic feature is analogous to the handle of the spoon and geologically is believed to represent a feeder-dyke. At its eastern end it flares out to a width of approximately 3 km and resembles the bowl portion of a spoon. This bowl shaped area represents the main mass of the magmatic chamber. The distinctive magnetic fabric within the main mass of the intrusion clearly defines an internal stratigraphy indicative of magmatic layering as is the case at Voisey’s Bay. When one examines the location of the electromagnetic conductors from the VTEM survey relative to the magnetically defined geology the Voisey’s Bay analogue and exploration model is most compelling.