Canadian Mine Bolduc

The Canadian Mine Bolduc property lies within the Archean Greenstone Belt of the Abitibi Sub-province of the Canadian Shield. The Abitibi Sub-province includes a series of bands of ultramafic, mafic and felsic volcanic rocks and sedimentary rocks deposited between 2,790 and 2,690 Ma. All these rocks were deformed several times and verticalized during the Kenorean orogeny that occurred between -2.7 and -2.5 Ga (MB2016-01). Sub-circular pre- to post-tectonic TTG-type plutonic domains intruded Archean volcanic and sedimentary rocks.

More specifically, the property is located within the Taschereau-Amos-Senneterre Volcanic Segment (STAS). This segment is bounded by a series of regional E-W and NW-SE deformation corridors. Regional foliation is molded around the Montgay, Lacorne and Pascalis-Tiblemont batholiths which are large felsic-intermediate intrusions surrounding the property. Regional metamorphism is at the greenschists grade but can reach the amphibolite grade near the intrusions.

The property is largely underlain by Archean tholeiitic mafic volcanics of the Amos Group, bordered to the north and south by the Lapaix and Bolduc regional faults, respectively. Some mafic and ultramafic (UM) sills and graphitic, pyrite-bearing argillites horizons are intercalated in the volcanic sequence; this geological environment is very similar to that of the Dumont Nickel Ni-Co deposit located about 75 km to the west; the Dumont Project is preparing to enter the production phase soon, with Proven and Probable Reserves exceeding 1 billion tons grading 0.27% Ni and 107 ppm Co (Dumont website, March 2026).

The area is known for its gold mineralization potential associated with regional deformation corridors (Swanson, Carpentier-A, Bartec) and quartz-feldspar porphyries (Jolin, Savane). Two different types of mineralization are reported on the Carpentier property: 1) orogenic lode gold associated with quartz-feldspar porphyry (QFP) dykes and shear zones (Beauchamp / Bolduc deformation corridor); 2) chrysotile type asbestos mineralization hosted in ultramafic rocks.

The Swanson prospect which is located directly west of Globex’s royalty claim was found in 1939 by prospection, within the Bolduc deformation corridor. The mineralization is distributed in 3 zones and consists of pyrite and native Au disseminated in quartz-fuchsite veins bordering the Swanson syenite (Bourgault, 1988). All lithologies are sheared, faulted, and deformed. More recently, porphyritic albitized dykes of tonalite, previously termed ‘syenite’, were found to be an important host to the mineralization (Pilote and Marleau, 2020). Drilling returned up to 2.59 g/t Au over 89.5 m, 89.1 g/t Au over 1.5 m, 11 g/t Ag over 1.5 m, 0.77% Cr over 1.5 m, and 0.2% Zn over 1.5 m. The recent NI 43-101 Mineral Resource Estimate by Sako et al. (2024) discloses total open pit + underground indicated and inferred resources are estimated at 2,113,000 t and 872,000 t of ore, at 1.8 and 2.3 g/t Au, for 123,400 and 64,500 Oz of Au. The Swanson Au deposit is typical of structurally controlled gold deposits associated with felsic intrusions.

The former Canadian Bolduc Mine was discovered in 1930. It is a now closed mine that was operated by Canadian Johns-Manville Co. Ltd. and produced chrysotile type asbestos totalling 737,549t grading approximately 2.0% chrysotile from 1974 to 1977 (Sako et al., 2024). The deposit is hosted within folded and fractured peridotite and is associated with serpentine and carbonate alteration.

Numerous other Au prospects are located near the property, the most significant one being the Jolin prospect, located about 13 kilometers south of the Swanson prospect. In 1988, Abitibi Metal Mines Ltd. estimated an inferred resource (non-compliant with NI 43-101) of 823,673 metric tons at a grade of 1.86 g/t Au over an average thickness of 4.1 meters (GM47555).