North PEAK Resources Intersects Major Structure IN the Kirkland Lake Area
www.northpeakresources.com
TSX Venture: NPR
NORTH PEAK RESOURCES INTERSECTS MAJOR STRUCTURE IN THE
KIRKLAND LAKE AREA
Calgary, Canada September 27, 2021
NORTH PEAK RESOURCES LTD. (TSX Venture: NPR) (the “Company”) is pleased to announce that it
intersected a major structure at its Kenogami Lake Project, located 8 km SE of the ore zones of Kirkland
Lake along what is interpreted to be the same Main Break structure (Figure 1 - western Kirkland Lake plan).
The major structure is a 3.8 metre (m) clay gouge fault with different rock types on either side of it. It is
preceded by a 102m strong shear zone of intense sericite alteration (10%) and with ~10-15% quartz -
ankerite veining, and locally up to 15% pyrite o ver 0.5m locally - all within Archean mafic volcanic rock
(Figure 2 - photo). The Main Break is followed by ultramafic rocks and followed by Temiskaming sediments
(Figure 3 - Kenogami Lake plan) , which locally contain fine pyrite over ~0.3 metres. Assays were not
significant - with highs of 0.3 grams per tonne (g/t) Au over 1.0m, and 0.2 g/t over 1.0m - but that is the
nature of the Kirkland Lake ore (all or nothing, with a change in grade occurrin g quickly). The Figures
referenced herein are set forth below.
Mike Sutton, Director of the Company and Senior Geologist explained, “This first exploration drilling
program by North Peak on the Kenogami Lake Project targeted the Kirkland Lake Main Break , and we
intersected the structure where expected. A very wide, strong zone of alteration and quartz-ankerite veining,
along with associated sulphides is present, suggesting a big system that could be mineralized along it.”
The drilling consisted of a single 602m drill hole from the shore of Kenogami Lake. Drilling took place in the
winter, but the hole could not be completed and had to be delayed until weather and road conditions were
more favourable. This drilling completes the requirement of incurring $100,000.
This initial exploration program is in line with the recommended work program in the 43-101 Report (defined
below) and contributed towards the obligations that the Company must fulfill in order to exercise its Option
(defined below) over the Kenogami Lake Project. This initial drill hole completed the requirement under that
Option of incurring the necessary exploration expenditures before the second anniversary of the grant of
the Option, and therefore 50,000 common shares of the Company will be issued to the optionor to complete
this commitment.
The Kenogami Lake Project consists of twenty -seven mineral claims totaling 500.3 hectares which the
Company holds an option to acquire, and which contain all the same rock types, alteration, and most
importantly, the same structures, as those that host the Kirkland Lake deposits 8km to the east . Further
information in respect of the drill results are set forth in Tables 1 and 2 below.
Table 1: Drill Result Highlights
Hole ID From (m) To (m) Intercept (m) Au g/t
Kenogami Lake Property – Main Break
KEN 21-01 301.9 305.7 3.8 Major Structure
303.7 304.7 1.0 0.3
453.0 454.1 1.1 0.1
527.0 528.0 1.0 0.2
** 0.42 g/t Au was used for the bottom cut-off; True widths are unknown if not noted.
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Table 2: Drill Hole Coordinates
Hole ID Azimuth Dip Northing Easting Total Depth (m)
KEN 21-01 180 -50 5327917 558800 601.8
Geology and Mineralization
The drill hole intersected a ~102m shear zone in Archean volcanics with ~10-15% quartz-ankerite veining,
10% sericite, and locally up to 15% pyrite over 0.5m in a couple of places. In general, mineralization at
Kirkland Lake along the Main Break produced 24 million ounces of gold consisting of quartz veins within
host rocks such as mafic syenite, felsic syenite, tuffs, and Temiskaming sediments with 1-5% fine pyrite
plus local tellurides.
Review by Qualified Person, Quality Control and Reports
Michael Sutton, P.Geo., Director and Senior Geologist for North Peak Resources, is the Qualified Person
who supervised the preparation of the scientific and technical disclosure in this news release on behalf of
the Company. All core samples, are assayed by Swastika Laboratories situated in Swastika, ON . Which
has ISO/IEC 17025 accreditation. All core is under watch from the drill site to the core processing facility.
All samples are assayed for gold by Fire Assay, with gravimetric finish, and other elements assayed using
ICP. The Company's QA/QC program includes the regular insertion of blanks and standards into the sample
shipments, as well as instructions for duplication. Standards, blanks and duplicates are inserted at one per
20 samples. Approximately five percent (5%) of the pulps and rejects are sent for check assaying at a
second lab with the results averaged and intersections updated when received. Core recovery has
averaged 99%.
About North Peak Resources
The Company is a Canadian based gold exploration and development company that is listed on the TSX
Venture Exchange under the symbol “NPR”. The Company holds an option (the “Option”) to acquire 100%
interest in and to the Kenogami Lake Project (also referred to as the Leahy Property) located approximately
15km southwest of Kirkland Lake, Ontario and consisting of and to twenty-seven (27) mineral claims totaling
approximately 500.3 hectares (see the Company’s June 29, 2020, press release). Further information about
the Kenogami Lake Project can be found in the NI 43-101 Technical Report titled “Technical Report on the
Leahy Property, Kirkland Lake Area, Ontario, Canada” dated effective March 31, 2020 by Tudorel
Ciuculescu, M.SC., P.Geo. of Roscoe Postle Associates Inc. (RPA) (the “ 43-101 Report”), which can be
found on the Company’s website or under the Company’s SEDAR profile at www.sedar.com.
For further information, please contact:
Brian Hinchcliffe, CEO
Phone: +1-914-815-2773
Email: [email protected]
Website: www.northpeakresources.com
CAUTIONARY STATEMENT REGARDING FORWARD -LOOKING STATEMENTS: This news release
includes certain "forward -looking statements" under applicable Canadian securities legislation. Forward -
looking statements include, but are not limited to, statements with respect to those that address exploration
results and the analysis of those exploration results, potential quantity and/or grade of minerals, potential
for minerals and/or mineral resources, timing and plans for any exploratory drilling and statements regarding
the plans, intentions, beliefs, and current expectations of the Company with respect to the future business
activities and operating performance of the Company that may be described herein . Forward -looking
statements consist of statements that are not purely historical, including any statements regarding beliefs,
plans, expectations, or intentions regarding the future. Such information can generally be identified by the
use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and
“continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance
on forward-looking statements, as there can be no assurance that the plans, intentions or expectations
upon which they are based will occur.
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By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and
uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates,
forecasts, projections and other forward -looking statements will not occur. These assumpt ions, risks and
uncertainties include, among other things, the state of the economy in general and capital markets in
particular, as well as those risk factors discussed or referred to in the Company's Management's Discussion
and Analysis for the year ended December 31, 2020, and the period ended June 30, 2021, available at
www.sedar.com, many of which are beyond the control of the Company. Forward -looking statements
contained in this press release are expressly qualified by this cautionary statement.
The forward -looking statements contained in this press release are made as of the date of this press
release. Except as required by law, the Company disclaims any intention and assumes no obligation to
update or revise any forward-looking statements, whether as a result of new information, future events or
otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or
statements made by, third parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Figure 1. Western Kirkland Lake Plan
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Figure 2 Major Structure Core
Figure 3: Plan with drill detail