The Great Burnt Property is hosted within the Great Burnt greenstone belt (GBGB). The Great Burnt greenstone belt is host to the Great Burnt Copper Zone with an indicated resource of 381,300 tonnes at 2.68% Cu and inferred resources of 663,100 tonnes at 2.10% Cu.
Recent drilling in 2020 by Spruce Ridge Resources reported 8.06% Cu over 27.2 m (TSXV:SHL press release dated March 18, 2021).
The Great Burnt greenstone belt also hosts the South Pond A and B copper-gold zones and the End Zone copper prospect within a 14 km mineralized corridor.
The Property is hosted within the Great Burnt greenstone belt (GBGB) which hosts Besshi-type massive sulphide deposits. These types of deposits generally occur in thick sequences of marine sedimentary rocks ranging from black shale to arkose to greywacke. Sulphide lenses can be several metres thick and extend for several kilometres. Besshi-type massive sulphide deposits are generally copper dominant and can contain precious metals such as gold and often contain cobalt. The Property is also located 4km west of the Crest Resources-Exploits Discovery joint venture project within the Exploits Subzone. The Exploits Subzone contains deep seated gold-bearing structures of the Dog Bay-Appleton Fault- GRUB Line deformation corridor that contains the high-grade Keats Gold Zone of New Found Gold.