Ann: Thunder High-Grade Copper Zone Extended, page-51

The market is paying due respect to the potential.

Assuming copper is still seen as 'the commodity' to be in going forward, ie; it doesn't tumble and stay down then I see the rest of the year providing some decent results as far as increasing the resource goes because they're drilling enough to give them that chance of success. It's probably not enough to move the needle substantially but they would say it's been a successful year if that alone happened, see what happens next year, it's obviously a long term project right now.

The DSO project should help keep some stability in the share price provided the copper price settles... and it appears AW1 has the ability to raise money which should also ease market tremors.

If one believes comments from Dave and TU about what's potentially down there and how the work done so far proves their modelling then; The 'big hit' that's needed for a re-rate is 33/1 for a decent hit that'll move the needle to 50/1 for a hit that will change the focus of their exploration, it has to be long odds even if they're right about what's potentially down there.

A few snippets from my notes which I find interesting; (no guarantee they're correct)

TU 10May24 - and we know from some of our deep drilling from last year we’ve hit the same mineralization in the same minerals that we see at surface, we know we have 10’s of metres of multiple % copper at the surface and a couple of drill holes last year deeper we’ve hit the same mineralization so we know we have the same process so it’s happening throughout the entire stratigraphic column, you have that potential for something hidden, that pre-existing layer in the stratigraphy that you know the permeability that allowed these fluids to flush through and with the previous geophysics we used to target these holes last year, that was gravity which is difficult to interpret as it doesn’t necessarily get you to the core of the system because there’s a lot at play here but the EM is very good and it gets us to that 2-3% copper plus a core of things and has the potential halo around so with the geophysics we’re doing right now we think we’re going to come up with some new surface target and be able to test those with the RC rig cheaply over this spring season and summer season, but with this deeper looking geophysics, if we see a nice looking conductivity anomaly in the sub-surface there’s nothing, we haven’t seen anything that explains conductivity in the subsurface except for copper mineralization so far, so anything that we see in that survey from the spring program I’m going to be very excited to drill it in the summer program and those deeper anomalies we’ll be drilling with the diamond rig,

TU 22Sep23 - we targeted a couple of different gravity anomalies using four different drill holes and we hit 4 for 4, that’s amazing, but to hit essentially the same style of mineralization that we’re seeing at surface where we know we have significant grade, you know in the sub-surface where we think we can have significant size certainly judging by the size of the geophysical anomalies that we have intercepted that are really difficult to explain, almost impossible to explain by anything other than sulfide mineralization, we have gravity anomalies in a succession of limestone rock, we’ve taken density measurement down the hole, the only spot in these very deep drill holes 620 metres, the only spot where we’re getting high density rock is right where the sulfide mineralization is, right in this modelling, the geophysical models, right in the red spot so that to me that says the only thing that explains the sulfide as far as the gravity anomaly is sulfide mineralization and we’ve seen the same thing with electrical conductance on the EM anomalies, the only thing that explains those EM anomalies is sulfide mineralization, those two things together that’s extremely powerful for us as far as exploration strategy, and now we have two methods together where’ we’ve demonstrated a very powerful finding them and demonstrating, we previously had significant airborne anomalies, (7.10) the airborne gravity anomalies back in 2017 we were all very excited about them in 2018 unfortunately when we modelled them in 3 dimensions they came out to be very deep, more than a kilometre down which is really too deep into the drill holes in the Arctic, we came back this season (2023) in the spring program did a higher resolution ground gravity survey, fantastic results from that just in the area around the near surface mineralization, there was always two anomalies there that we’d seen in the airborne again that had been modelled a kilometre down yet when we ran the new surveys and remodelled it with the new and better data we’ve shown that the old model was not quite right in terms of depth and the new stuff modelled up around the 350 metres depth very reachable with the drone in the top 500 metres is very doable again, we’ve demonstrated over 600 metres this year so those anomalies all of a sudden we hit copper sulfide mineralization with every anomaly and it really opens up for the other bigger anomalies that I’m going to be having that chance.



I do not hold these...