Destiny Gold Project, Quebec
Overview
Ownership & Size: Big Ridge (formerly Alto) – 100%
127 mineral claims totaling 5,013 HaStage: Continuing Exploration: The property hosts the DAC Deposit comprised of high-grade quartz veins occurring within five parallel altered gold bearing shear zones. Mineralization extends from 15m to a depth of 400m. The DAC deposit is open along strike and at depth.
DAC NI 43-101 Resource Estimate (2025) 0.30g/t cut off
Class
Tonnes
g/Au/tonne
Au(ounces)
Indicated
6,752,000
0.91
196,549
Inferred
28,560,000
0.87
794,886
The NI 43-101 Resource Estimate for the DAC deposit was prepared for Caprock Mining Corp. and was filed on Sedar May 8, 2025. Mineral Resources are not Mineral Reserves and by definition do not demonstrate economic viability.
Location & Infrastructure Despinassay Township, road 100 km northeast of Val d’Or. The property is accessible by provincial highway 397 which passes through the property.
Regional Significance The Abitibi greenstone belt contains some of the world’s largest gold and base metal deposits. The region has produced over 180 million ounces of gold and more than 450 million tonnes of Cu-Zn since the early 1900s.
The Destiny property lies along the Chicobi Fault Zone, one of the lesser explored regional deformation corridors in the Abitibi. The DAC Deposit is one of several significant gold zones along 6 km segment of a second order structure called the Despinassy Shear Zone.
Latest Update
Big Ridge Gold Corp. entered into an option agreement with Caprock Mining Corp. in December 2024. Caprock Mining Corp. has an option to earn a 100% interest in the Destiny gold property.
Terms of the Option Agreement
Under the terms of the Option Agreement, Caprock must make the following cash payments and share issuances to Big Ridge and exploration expenditures to earn a 100% interest in the Destiny gold property:
- Issue 8,000,000 common shares in the capital of Caprock on the Closing Date, which must occur no later than April 2, 2025 (Complete);
- Pay $100,000 in cash and issue $250,000 in shares on or before the first anniversary of the closing date;
- Pay $250,000 in cash and issue $350,000 in shares on or before the second anniversary of the closing date;
- Pay $400,000 in cash and issue $700,000 in shares on or before the third anniversary of the closing date; and
- Make exploration expenditures totalling $200,000, $750,000 and $1,000,000 in the first, second and third years of the Option Agreement, respectively.
Upon Caprock’s satisfaction of the exploration expenditure and share-based payment obligations described above, it will assume Big Ridge’s existing 100% interest in the Destiny gold property. Big Ridge will retain a 1% NSR on the property, subject to a $1.0 million buy-back right in favour of Caprock.
Technical Report
