Signature Resources Releases Initial Resource for Lingman Lake Gold Deposit Hosted within a Single Open Pit ; Remains Open to Further Exploration
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Signature Resources Releases Initial Resource for Lingman Lake Gold Deposit
Hosted within a Single Open Pit ; Remains Open to Further Exploration
Toronto, Ontario, June 30, 2025, Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF,
FSE: 3S30) ("Signature" or the "Company") is pleased to announce its initial mineral resource
estimate (the “MRE”) on its Lingman Lake Gold Deposit in the District of Kenora, Ontario . The
MRE is a culmination of a total of 240 diamond drill holes including 33,309 assayed samples, for
a combined length of 43,222 metres (“m”) and was compiled by Watts, Griffis and McOuat
(“WGM”). Highlights of the MRE include:
• Single resource shell containing more than 20.6 million tonnes of mineralized material
and remains open (Table 1). The MRE consists of an Indicated resource of 2.15 million
tonnes with an average grade of 1.38 grams -per-tonne gold (“g/t Au”) for an estimated
95,200 ounce of gold (“oz Au”), plus an inferred resource of 18.4 million tonnes with an
average grade of 1.14 g/t Au totalling 674,320 oz Au. About 5% of the gold ounces are
outside of the statistical gold -grade capping and estimation was relatively insensitive to
cutoff and modeling methodology . The current resource pit shell extends 1.6 k ilometres
(“km”) (West to East) with a maximum width of ~400 m and a maximum depth of about 340
m below surface.
• Resource growth potential remains robust. Structures hosting the mineralization remain
open to further drilling both east, west and at depth. Modeling indicated the potential for a
further mineralization outside the pit shell that could be brought in with additional drilling and
an extension of the conceptual pit shell during a future mineral resource update. WGM also
recommended that drilling test the potential for veins to converge at depth. Several surface
channel samples have been taken near the modelled resource that have contiguous gold
intervals that are above the resource cutoff. The Company plans to follow-up with drilling to
potentially expand the resource envelope. It is important to highlight that the high- grade
intercepts from 1945 drilling were excluded and is a target area for follow -up drilling. The
Lingman Lake Gold Deposit is one of many exploration targets identified along the 24,821
hectare greenstone belt project held by Signature (Figure 8).
• Moderate metrics used for the resource calculation. The resource cap used varied by
zone, from a low of 4.5g/t in the 11650 zone to a high of 20 g/t Au in the North zone and a
cut-off grade of 0.3 g/t Au was applied. The pit shell wall was constructed with a slope of 55
degrees on all pit wall assumptions and will be subject to future geotechnical review. The
estimation of gold grades was performed with the Inverse Distance technique cube (ID³) on
capped composites. The block model structure consists of an orthogonal model (no rotation).
Ordinary Kriging (OK), Inverse Distance square (ID²) and nearest neighbourhood methods
also performed for comparisons and validations. Grade interpolations were carried out in
three passes with each successive pass using a larger search radius than t he preceding
pass and only estimating the blocks that had not been interpolated by the previous pass.
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” We are very pleased to announce the results of our initial MRE This was a
crucial step in confirming the potential of the Lingman Lake Gold Deposit.
In addition, this report demonstrates the depth and quality of the work being
done on this project to illustrate the possibilities for this greenstone belt that
Signature controls. The work has identified a number of opportunities to
expand this initial resource around the historic al Lingman Lake mine. The
studies we are conducting on the mineralogy characterizations and initial
metallurgical work to further characterize the deposit should greatly
enhance our knowledge and targeting as we test the extensions and look for
satellite deposits. All these steps should provide great confidence that we
are advancing this project in the highest quality methods possible.”
- J. Dan Denbow, CFA – President, CEO and Director
Table 1 shows the results from the initial MRE for the Lingman Lake Gold Deposit. The
modeled resource contains a total 20.6 million tonnes of material. Near the historical
underground workings, the drill density was reasonable enough for a portion to be classified as
indicated. Of the total tonnes, 2.146 million tonnes are in the indicated category with an
average grade of 1.38 g/t Au containing 95,200 oz Au. The majority of the resource was
categorized as inferred with 18.398 million tonnes at an average grade of 1.14 g/t Au
containing an estimated 674,320 oz Au. Overall, the capping of high-grade outliers impacted
the overall results by only 5%. The capping was done on a zone-by-zone basis ranging from
20 g/t Au in the North zone and 4.5 g/t in the 11650 zone.
Table 1- Lingman Lake Deposit Mineral Resource Statement **
**A total of 240 diamond drill holes including 33,309 assayed samples, for a combined length of
43,222.59 m were used in mineral resource estimation. 72 historical drill holes from 1945 and one
drill hole from 1973 were excluded from the mineral resource estimate. WGM was unable to verify
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these drill holes due to lack of a core, lack of assay certificates and logs, no physical collar location,
and lack of downhole surveys. A zero value was assigned to all unsampled intervals which
intersected mineralized zones by WGM. WGM has reviewed the database and is satisfied with the
integrity of the drilling database. WGM believes it is suitable for a median mineral resource
estimation. The MRE has been prepared for the Lingman Lake Deposit in accordance with NI 43-
101 and the current CIM definition Standards for Mineral Resources and Mineral Reserves
(November 2019).
Figure 2 shows the distribution of the block model and resource categories in planview relative
to the resource pit outline. One of the several opportunities to improve the mineral resource
estimate is further drilling west of the diabase dyke. As can be seen in the figure below, many
of the mineralized blocks of the west zone are disconnected from the main resource body, with
further drilling on the west zone these could be connected to the main res ource body capturing
the voids in the model. Another opportunity with infill drilling would be capturing areas identified
by exploration completed in the 1940’s that was not included in this resource estimate. Infill
drilling will also benefit the resource as selective assaying in earlier drilling had a negative impact
as segments that were not assayed carried a zero value in the model and affected the resource
estimate. Infill drilling will also increase drill density which may allow for the upgrading of inferred
resources to a higher categorization.
Figure 2. Planview of classified Block Model within Resource Pit Outline
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With the higher grades that reside in the upper portion of the deposit the resource is not highly
sensitive to changes in the cut-off grade. The MRE is reported using a cut-off grade of 0.30 g/t
Au. If the cut- off grade is raised to 1.00 g/t Au, estimated ounces would be approximately
531,000 ounces of gold at a grade of 1.99 g/t Au.
Table 2- Resource Sensitivity to Cut-Off Grade
Figure 3 shows a long section of the MRE in main Mineralized domains vs the pit shell . The
MRE pit shell extends 1.6 km from West to East with a maximum width of approximately 400 m
with a maximum depth of 340m based upon a cut-off grade of 0.3 g/t Au. As can be seen in this
figure there are a number of resource blocks outside of the designed pit shell pointing to another
opportunity to potentially improve the resource estimate. Successful drilling at depth could
enable a deepening of the pit design and potentially capture these blocks, assuming engineering
work confirms the viability of their extraction.
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Figure 3 – Pit Shell (In Blue) and Resource Blocks (in Pink) with Insitu Grade (=>0.3 g/t Au)
It is interpreted that the mineralization is contained in five main zones within the resource (Figure
4). With current exploration, the mineralized zones have been identified covering 2 km in the E-
W strike direction in a corridor of approximately 300m width. These mineralized zones are
typically dipping 75° to 85°. As can be seen in Table 3 the North and West zone are the largest
by volume and these zones on average have a higher grade of 1.61 g/t Au and 1.63 g/t Au
respectively.
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Figure 4 – Lingman Mineralized Domains
Table 3 – Estimate Volumes of Mineralized Domains
Domain Domain Code V olume (m3)
North 100 2,936,467
Central 200 2,442,351
South 300 1,560,566
West 400 2,860,775
11650N 500 356,238
Figure 5 is a section that shows the mineralized blocks of the identified gold zones and the MRE
pit outline. T he higher grades contained in the upper portion of this section underlies the
robustness of the resource with higher cutoff grades (Table 2). The mineralized zones extend
to the bottom of the pit outline and presents the opportunity to extend these zones at depth with
further exploration.
Diabase Dyke
Granite
West Zone (400)
11650 Zone (500)
North Zone (100)
Central
Zone (200)
South Zone (300)
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Figure 5. Modeled Blocks and Mineral Pit Outline.
Figure 6 and figure 7 below show typical cross sections of the Lingman Lake mineralized zones.
Figure 6 shows the mineralized domains east of the Diabase Dyke. Figure 7 shows the
interpreted mineralized West zone.
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Figure 6. Cross Section of Lingman Lake Mineralized Zones