Gold, Cobalt and Bismuth Property in Cape Breton, Nova Scotia.

The Copper Lake/Oceanview property in Cape Breton, Nova Scotia covers approximately 1,250 hectares. The project is held 75% by ExplORE Resources Limited (Perry MacKinnon) and 25% by 21Alpha Resources.

Roughly 50 historic diamond drill holes have tested more than 5 kilometres of strike, focused mainly on the Copper Lake (French Road) and Oceanview showings. Mineralization is developed within a polymetallic skarn containing copper, cobalt, bismuth, zinc, arsenic, lead, tin and silver. The skarn is hosted by siltstones, shales and mudstones and lies adjacent to Precambrian volcanics comparable to those hosting the Stirling VMS deposit approximately 28 kilometres to the southwest. The Deep Cove molybdenum deposit, located about 5 kilometres to the east, occurs within a felsic intrusive in the same volcanic package, highlighting the broader mineral endowment of the district.

Historic drilling reported cobalt and bismuth grades up to 3% over narrow widths (generally less than one metre), while surface samples have exceeded 0.4% Co and Bi. Much of the drilling, largely completed in the 1950s with the most recent work in 1988, did not consistently assay for cobalt or bismuth. As a result, the historical dataset likely understates the critical metal potential.

At Copper Lake, mineralization is exposed in two surface zones approximately 60 metres apart. The main showing was developed by a 27-metre shaft sunk in 1876. The area is marked by gossanous calc-silicate material interpreted as a metamorphosed calcareous horizon within the sedimentary sequence. Sampling at the northwest showing returned 4,070 ppm cobalt, 7,160 ppm bismuth, 272 ppm silver and 178 ppb gold, with minor copper; similar and locally higher grades were intersected in drill core.

The mineralized meta-carbonate horizon extends for more than 5 kilometres, providing substantial exploration scale. While continuous ore-grade material along the full strike length is unlikely, anomalous cobalt has been identified over nearly half that distance. High-grade cobalt, along with bismuth and associated metals, has been confirmed at both Copper Lake exposures and approximately 200 metres to the northeast in two intersections from a single drill hole. This supports the interpretation of discrete high-grade shoots within a broader mineralized corridor. Additional targets within the claim block remain untested.

A 2018 soil geochemical survey outlined strong anomalies along the margin of the survey grid, away from known showings, defining a new target area. More recent work identified float grading up to 8% copper, and follow-up grab samples returned up to 1.4 g/t gold near an undrilled bullseye magnetic anomaly.

Overall, the property combines demonstrated high-grade cobalt–bismuth mineralization, district-scale geological continuity, incomplete historical metal coverage, and newly defined geochemical and geophysical targets, supporting continued evaluation of its polymetallic potential.